Introduction to Retail Management
What is Retail?
According to Swapna Pradhan, the word “Retail” is derived from the French word “Retailer”, which means to break bulk. Retail consists of all activities involved in the marketing of goods and services directly to the consumer for their personal, family, or household use.
What is Retail Management?
The various processes that help customers procure the desired merchandise from retail stores for their end use are referred to as retail management. Retail management includes all the
Read MoreResource Allocation and Demand in Economics
Unit 1: The Economic Problem of Scarcity and Resource Allocation
Resource Allocation
Resource allocation in an economic area involves combining existing resources with needs. It means matching resources and needs according to a scale of preferences, choosing concrete objectives, and ranking them based on those preferences. Most countries utilize a market economy (where individual needs are contrasted with their satisfaction), prevalent in Western and some Eastern countries. However, government intervention
Read MoreSpecial VAT Schemes in Spain for Businesses
Special Charge Scheme Equivalence
This mandatory scheme applies to retail traders who are individuals or entities paying IRPF tax and meet the following criteria:
- Deliver goods without transformation.
- Over 80% of deliveries are to non-professional customers.
Retailers notify suppliers of their status. Suppliers then issue invoices under the special scheme. VAT rates are adjusted (e.g., 18% becomes 4%, 8% becomes 1%, 4% becomes 0.05%). Excise goods like snuff have a 1.75% rate. The tax base for the
Read MoreMacroeconomics: A Comprehensive Overview
What is Macroeconomics?
Macroeconomics is the study of the behavior of the economy as a whole. It examines the overall level of output, employment, and prices in a country.
Microeconomics, conversely, is the study of prices, quantities, and specific markets.
The Virtuous Circle
The virtuous circle can be explained according to this scheme:
- Low interest rates: The state promotes low interest rates to encourage borrowing for production and stimulate depressed areas. Low rates also free up resources for
Essential Business Vocabulary for Professionals
Business Vocabulary
General Terms
- Get a Promotion: Be promoted
- Get the Sack: Be dismissed
- Early Retirement: Retirement
- Flexitime Work: Flexible work hours
- Overtime Work: Overtime
- Recruitment: Hiring
- Vacancy: Open position
- Resignation: Leaving a job
- Make Somebody Redundant: Lay off staff
- Overworked: Work overload
- Pay Rise: Raise
- Workload: Amount of work
- Deadline: Delivery deadline
- Workaholic: Someone who works excessively
- Subsidiary: Affiliate (an entity controlled by another entity)
- Head Office: Main office
- Car Dealership:
Public Policy: Incentives, Challenges, and Decision-Making
2) Incentives in Public Policy
Public policy aims to encourage beneficial activities like work, education, and savings while discouraging harmful ones such as crime, substance abuse, and pollution. To achieve this, policymakers utilize both positive and negative incentives. Positive incentives reward desired behaviors, while negative incentives penalize undesirable ones. As highlighted in the literature, modifying incentives is a potent tool for influencing behavior.