Employment Contracts and Labor Market: Key Concepts
Employment Contracts and Labor Law
An employment contract is an agreement between an employee and an employer where the employer agrees to pay a fee to receive services. The worker must be 18 years old, or if between 16 and 18, legally emancipated or with parental consent.
Key Elements of an Employment Contract
- Place and date of the agreement
- Identification of the parties
- Name and category of the worker
- Place of work
- Working hours
- Duration of the contract
- Start date
- Pay rate
- Annual leave entitlement
- Notice
International Economy and Technological Shifts: 1870-1945
Item 3: The Emergence of an International Economy (1870-1945)
1. Market, Trade, and Factors
a) The Integration of Markets
Trade in antiquity was based on traditional economies in which the movement of goods was limited due to inefficient transport. Modern economies are built to sell, and with them increases the movement of goods and factors. Trade grew faster than production in the nineteenth century: GDP increased by 2.5% and trade by 4%. Foreign trade multiplied by 25 due to the internationalization
Read MoreEuropean Union and International Organizations: A Glossary
Single European Act
1986. This was the first modification of the basic treaties of the European Communities. Among its major innovations, it sanctioned the existence of the European Council and strengthened the powers of the European Parliament with the aim of establishing the single market.
World Bank (WB)
An international economic institution born after the Bretton Woods Conference in 1944, with the role of providing credit worldwide, but especially to developing States. It is owned by 185 countries.
Read MoreInternational Economics: Trade, Finance, and Globalization
International economic studies how countries influence each other’s economies through two acts: 1. International trade (exchange of goods and services across borders) 2. International finance (movement of money for loans, investments, and financial assets). Gains from Trade: Countries benefit by specializing in goods having a comparative advantage and trading for what they lack.
Comparative Advantage: A country is more efficient in producing a specific good, it specializes in that product and trades
Read MoreCompetitive Pricing Strategies and Market Dynamics
Competitive Pricing Strategies
Competition-oriented pricing: The first thing to consider is the stage of the market or industry in its life cycle and the company’s position within it. This will directly affect what is called “price architecture” and may cause a loss of control in the face of competitors’ or distributors’ decisions.
In this case, a firm ensures that the prices it sets are in keeping with those charged by competitors, often referred to as the going-rate price. This kind of pricing
Read MoreProject Management: Life Cycle, Business Significance, and Working Capital
1. Project Life Cycle and its Main Components
The life cycle of a project is comprised of seven major stages, each with a specific duration:
- Idea: The initial concept for the project, whether it involves creating a business or developing a product or service.
- Profile: Outlining the project’s scope, objectives, and structure. This stage also involves estimating the project’s base cost.
- Pre-feasibility: Conducting market research to determine the target market and assess the initial feasibility of