Understanding Retirement and Pension Systems in Spain
Retirement is the name given to the administrative act that allows individuals to cease gainful employment, either on their own or for someone else, after reaching a certain legal maximum age. This act is often associated with a passive state of employment. Upon termination of employment, the beneficiary of the pension is credited with an economic benefit, which is usually a monthly rent. The provision is for life and is only extinguished with the death of the interested party. The termination of
Read MoreUnderstanding Consumer Behavior: Utility Theory, Competition, and Monopoly
Utility Theory
Utility theory attempts to explain consumer behavior. From this perspective, utility is the ability of an asset to satisfy needs. A good is more useful to the extent that it better meets a need. This utility is qualitative (real or apparent qualities of the goods), spatial (the object must be within reach of the individual), and temporal (referring to when the need is satisfied).
This theory is based on several assumptions:
- Consumer income per unit of time is limited.
- The characteristics
Understanding Marketing Concepts and Their Importance
T.1: Concept
Marketing: is a human activity whose purpose is to satisfy the needs and desires of human beings through exchange processes. Desires: willingness to meet a need. Requirements: substance or lack of something, common to all human beings. Claims: formulation conditional expresses a desire for resources and marketing stimuli received. Products: any material, service, or idea that has value to consumers or users and can satisfy a need. Value and satisfaction: expectation derived from products
Read MoreKey Accounting Principles for Accurate Financial Reporting
Accounting Principles
Accounting principles are fundamental rules for accurate financial reporting, ensuring a true representation of a company’s assets, liabilities, financial position, and results.
General Accounting Plan
The following principles are essential:
1. True and Fair View
Annual accounts must clearly reflect the company’s financial reality. When standard principles suffice, explanations should be provided. In exceptional cases where principles conflict with a true representation, those principles
Read MoreMastering the Marketing Mix: Product, Price, and Distribution Strategies
The Marketing Mix
The marketing mix is the set of controllable variables a company uses to create a specific market position and influence its target market. These variables are: product, price, distribution, and communication.
Product Levels
Commodity: The core benefit or need the product satisfies.
Formal Product: Attributes that differentiate the product, including:
- Quality: Technical (functional performance) and economic (durability and value).
- Brand: Name, term, sign, symbol, design, or combination,
Understanding the Financial System and Money Functions
The Financial System: Functions of Money: Be the change accepted by everyone, unit of account, worth of goods, securities deposits to savings guarantee. Evolution of Money: Exchange: exchange of some goods for others, Be Money 2.1 skins, sun, spearheads, 2.2 precious metals: gold, silver, and copper. Currencies: value guaranteed by the state, Bills: bills that gave the banquet as a guarantee of deposits convertible into gold.
Money Currently Used: set of notes and coins in circulation in an economy
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