Introduction to Economics
Basic Concepts
Economy
Economics deals with how to manage scarce resources to produce and distribute goods and services for consumption among members of society.
Needs
Needs are the feeling of lacking something, coupled with the desire to satisfy it. Needs are relative because individual desires are not fixed.
Types of Needs:
- Individual: Natural, such as food.
- Social: Related to living in society, such as celebrations.
- Collective: Needs that surpass the individual and pertain to society, such as transportation.
Business Administration and Management: A Comprehensive Guide
Definition of Organization
An organization is a set of related items arranged to achieve a specific objective. Key elements include people, goals, tasks, and administration.
Management Definition
Management is the coordination of people and material resources to achieve objectives.
Phases in the Management Process
According to Freeman, the phases include planning, control, organization, and management.
Management’s Foundation
Management is founded on decision-making.
Definition of Control
Pérez-Carballo
Read MoreUnderstanding Company Financial Statements: A Guide to Key Elements
Company Financial Statements
General Information
Company Name
This section displays the official name of the company as registered in its statutes.
RUT
This section displays the company’s unique tax identification number (RUT), which signifies its role in society.
Currency Type
This section indicates the currency used in the financial statements. “P” represents Chilean pesos, and “D” represents US dollars.
Type of Financial Statements
This section specifies the type of financial reporting. “I” represents
Read MoreUnderstanding Economic Units and Business Structures
Economic Units
Businesses and Consumers
Businesses and consumers are generally known as economic units. These units combine human and physical components to obtain goods and services to meet present and future needs.
Companies
A company is defined as the set of material, human, and capital resources that interact to accomplish a goal, whether or not for profit. Companies are the most prevalent economic units in the commercial sector.
Types of Companies
There are two main types of companies:
- Societies of
Market Structures: A Comprehensive Overview
Market Structures
Perfect Competition
Perfect competition describes a market with many buyers and sellers. No single producer controls the price; it is determined by the market. This structure is common with agricultural products.
Conditions for Perfect Competition:
- Firms are price-takers.
- Many buyers and sellers exist.
- Products are homogeneous (no difference between products from different sellers).
- Perfect information exists (all participants know market conditions).
- Free entry and exit for firms.
Operation
Read MoreFilm Production Financing and Co-production
Requirements for Participation in Spanish and European Co-production
These requirements relate to co-bipartite and multipartite financial participation.
Spanish Co-productions
- Financial co-production: The financial contribution may be between 10% and 25%.
- Co-bipartite: Each co-producer may provide between 20% and 80%.
- Multipartite: No contribution will be less than 10% nor more than 70%.
European Co-productions
- Bipartite: Minimum contribution is 10%, maximum is 70%.
- Multipartite: Allows for more than two