Notes, abstracts, papers, exams and problems of Economy

Taxpayers Who May Be Considered Small

The following are considered small taxpayers:

• Stores
• Kiosks
• Haberdasheries
• Sellers of drinks and meals
• Small industries (homemade clothing, footwear, woodwork)
• Hairdressers
• Garages
• Car parks
• Bars and restaurants
• Rental property owners

All these aforementioned activities must not exceed an annual income of GS. 100,000,000. If you exceed your income in a year, you should change the form of tax and switch to IRACIS. Similarly, when importing or exporting, you must also pay tax on IRACIS.

Law 2421/04 Fiscal Adequacy

New changes:

• New form formats
• New codification of the RUC
• New pay periods - perpetual calendar
• Enabling new network billing PRONET ¨ SETE
• Internet accessory for paying taxes
• Agent software for data (customers and

Financial Assets

A financial asset is any asset that is: cash, an equity instrument of another enterprise, or involves a contractual right to receive cash or another financial asset, or to exchange financial assets or liabilities with another party under potentially favorable conditions. They are also classified as a financial asset, any contract that may be or will be settled with equity instruments themselves, provided that:

• a) If it is derived, or may require the entity to accept a variable number of its own equity instruments.
• b) If it is derived, it cannot be, or will not be, settled by a fixed price for a fixed number of its own equity instruments.

Financial assets include obligations, bonds, notes, and other debt securities acquired; stocks,... Continue reading "Financial Assets: Shares, Types, and Rights" »

Company: Basic Unit of Creation and Distribution of Goods and Services

A company is the basic unit of creation and distribution of goods and services that meet our needs.

Company Elements

Human Resources

• Partners: Provide the capital necessary to launch the company (profit-seeking).
• Managers: Directly responsible for the management of the company (make decisions, receive wages).
• Employees: Contribute their workforce and knowledge, seek promotion, and better salaries.
• External Group: Relate to the company but are not part of it, e.g., clients, suppliers.

Heritage

The set of assets, rights, and obligations of the company. There are three types:

• Material Elements: Economic factors.
• Non-current Capital: Materials that are renewed after a long period.
• Capital

Business Classification

Based on Sector Activity

• Primary Sector: Involves obtaining raw materials (e.g., livestock, agriculture).
• Secondary Sector: Focuses on the transformation of raw materials or semi-processed products (e.g., industry).
• Tertiary Sector: Concerned with the provision of services.

Based on Capital Ownership

• Private Enterprise: Owned by individuals.
• Public Companies: Owned by the public sector (e.g., state, regional government, municipality).
• Joint Ventures: Ownership is shared between the government and individuals.

Based on Company Size

• Microenterprise: Fewer than 10 employees and annual revenue under 2 million.
• Small Business: 10-49 employees, annual revenue under 10 million.
• Medium Enterprise: 50-249 employees, annual revenue under

Key Economic Schools of Thought

ISO (Income Statement Only): Tax on corporate income, a direct tax reflecting wealth. It benefits businesses (corporations or legal persons).

Invisible Hand: The classical liberal school believes that individuals, pursuing their self-interests, unintentionally benefit society through the "invisible hand" of the economy.

Mercantilism: Author Spotlight: Jean-Baptiste Colbert, the father of Colbertism. Mercantilists believed that accumulating gold and silver was key to national wealth, achieved through colonies and mine exploitation.

Physiocrats: Author Spotlight: François Quesnay. He wrote "Tableau Économique," describing the circular flow of income. They considered agriculture the only economic activity capable... Continue reading "Key Economic Schools of Thought: A Concise Overview" »

Income and Wealth

Income

Total income received by owners of factors of production.

Income Distribution

How income is distributed among owners of factors of production as wages, land rents, interest, and profits. Depends on two factors:

• Wage differences (if they are small, income distribution is relatively equal)
• Wealth distribution (some countries have broad access to wealth but large income differences)

Wealth

Net asset value of tangible, physical, and financial assets.

Labor Market Dynamics

Labor Demand

Depends on wages, productivity, and prices of goods produced.

Individual Labor Supply

Shows the number of hours an individual is willing to work at a given wage.

Labor supply depends on:

• Wages
• Population
• Labor force participation rate

Aggregate Labor Supply

Represents... Continue reading "Income, Wealth & Labor Market Dynamics: A Comprehensive Overview" »

Introduction

Hospitals and medical consultations are firms offering services and charging for them. Private schools pay for the service, while in the public sector, the state is responsible. It is crucial to adhere to the budget. Efficient supply management ensures the availability of products for the operation of a center at the least expense, while maintaining good medical care.

Major health centers have a delivery service that manages procurement, acquisition, storage of equipment, and instruments. Smaller centers have less complex supply management, often handled by a single person.

Supply management involves several stages:

• Acquisition of equipment
• Storage of products

Service suitability is determined by favorable spending. Large centers manage... Continue reading "Healthcare Supply Management: Optimizing Procurement & Inventory" »

The Economy

The economy deals with the administration or use of existing resources in order to meet the needs of individuals and groups.

Economic Assets

People produce goods or products that can be economic. These products are material or tangible (car, fish, a garment), and work services are provided to individuals or groups (transport, trade, health). Economic goods are characterized by the following traits:

• They are limited and can be drained.
• They can be bought and sold.

Economic Activities

Economic activities are those that produce goods using different types of economic resources, which are called factors of production. These factors are the following:

• Natural resources - are provided directly by nature: earth, water, animals, etc.
• Human resources

Understanding the Consumer Purchase Decision Process

1. Recognize the Need

We experience a need when we sense a gap between our current state and a desired state. Needs can be categorized as follows:

• Physiological Needs: These relate to basic survival for individuals (e.g., thirst, fatigue, housing) and businesses (e.g., customers, suppliers).
• Security Needs: The need to feel protected. For individuals, this might involve insurance or medical care. For businesses, it could mean recovery of arrears or financial stability.
• Membership Needs: The need to belong to or be part of a group. For example, belonging to a union.
• Esteem Needs: The desire to be accepted and respected. For individuals, this might involve projecting a certain image. For businesses,

Sales Organization

Our company, operating in the tertiary sector, is dedicated to providing services directly to the customer. Therefore, we utilize a direct distribution channel: Manufacturer to Final Consumer.

Pricing Policy

Our company aims to achieve the following objectives:

• Establish a permanent presence.
• Generate market returns in the short term.
• Promote and position our products and services, and defend against competition.

Pricing: The price of our products and services is set by studying the following three methods, so we consider:

• The costs (COST & SELLING PRICE RANGE)
• The maximum price that can be set on the market, analyzing the advantages and disadvantages of the company against the competition.

Legal Form

The legal form is a Limited... Continue reading "Company Structure, Pricing, and Legal Aspects" »