Trade, Finance, and State Intervention (10th-18th Centuries)
Innovations in Trade and Finance (10th-18th Centuries)
Trade growth exceeded other economic sectors due to urbanization, state demand, and expansion into Eastern Europe, Russia, and the New World. This led to global economic integration, changing trade composition and location, and increasing capital accumulation opportunities. New business organizations reduced transaction costs, facilitated capital formation, and expanded operations. Developments in payment methods, credit, and banking lowered
Read MoreVenezuelan Worker Wages: Fair Pay, Tips, and Productivity
Tips as Part of Wages
If an employee receives tips according to local custom or usage, these shall be considered part of wages. A value representing the right to receive them is estimated by collective agreement or by agreement between the parties. In case of disagreement between the employer and the worker, the estimate will be made by judicial decision.
Single Paragraph: The value the worker is entitled to receive for tips is determined by considering the quality of service, professional and worker
Read MoreSoviet Economic Transformation, Comintern, and the Great Depression Recovery
The NEP (New Economic Policy)
Following the civil war and war communism, the Soviet economy sank precipitously, and shortages in cities became widespread. The revolution began to lose some of its former supporters. The rebellion of the Kronstadt sailors at the port led Lenin to propose, at the X Congress of the Russian Communist Party, a reform to improve living conditions and overcome resistance to the revolutionary process. The new direction of the revolution in the economic field was the New Economic
Read MoreEnterprise Market Analysis: Key Concepts and Strategies
Topic 18: Analysis of Enterprise Market
18.1 Concept and Market Classes
Market Definition:
A phenomenon that occurs in an exchange relationship between buyer and seller. From a marketing standpoint, this is a very limited concept of localism. Ultimately, it must be understood as all natural or legal persons of a particular area that meet the following requirements: they want or desire to obtain a product to suit a particular need and have the economic and legal capacity to acquire that product.
Market
Read MoreNeoclassical Theory: Consumer Behavior, Production, Equilibrium, and Uncertainty
The economic problem of neoclassical theory is how it achieves the efficient allocation of resources. Equilibrium prices indicate the relative scarcity of goods and services.
The problem of the theory of consumer behavior and preferences is how to determine a way to choose among alternatives to achieve the greatest possible satisfaction.
Axioms:
Axiom of completeness: The set of consumer preferences should be complete; two food baskets can always be compared.
Axiom of reflexivity: A consumer
Market Research and Analysis: Strategies for Success
Market Structures and Research
Market Rates
Perfect Competition
- Product homogeneity
- Large number of suppliers and customers
- Total market knowledge
- Freedom of market entry and exit
Imperfect Competition
- Monopoly: A single company controls the market, setting prices without competition.
- Oligopoly: Few companies with similar products engage in strong competition.
- Monopolistic Competition: Many companies offer similar but differentiated products, leading to strong competition and differentiation strategies.