Economic Terms and Concepts
Distribution and Allocation
Distribution: According to a plan: Allocation (Of resources)
Commercialization
Commercialize: Do organize something to make a profit
Externalities
Externalities: Possitive or negative consequences (benefit or cost) of economic activities experienced by other people
Infrastructure
Infrastructure: A basic systems and services such as transport and power supplies
Optimal
Optimal: The best of most likely to bring success
Outcome
Outcome: The result or effect of an action or situation
Unfettered
Unfettered:
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Challenges in the European Union
The European Union (EU) faces economic challenges, particularly concerning the fiscal deficits of Greece and Spain and the banking crisis within the eurozone. Greece’s substantial spending on the 2006 Athens Olympics, intended to boost tourism and economic growth, resulted in social unrest due to poor economic conditions and a lack of effective public policies. Similarly, Spain’s high taxes have led to social movements like M11, questioning excessive public expenditures
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Lesson 1: Reasons to Build and Facility Planning
Reasons to Build
There are various economic, social, and political reasons to build new facilities or assess the needs of existing ones. These include:
- Economic: Job creation, economic growth, and increased tax revenue.
- Social: Improved quality of life, community development, and social cohesion.
- Political: Enhanced city image, political prestige, and attracting investment.
Facility Planning – New Facilities
Planning for new facilities involves considerations
Read MoreUnderstanding Accounting Valuation Methods and Key Concepts
Understanding Accounting Valuation Methods
Key Valuation Methods
Several methods are used to determine the value of assets and liabilities in accounting. These include:
1. Historical Cost
The historical cost is the original purchase price or production cost of an asset. It includes all directly attributable costs necessary to bring the asset into operation.
2. Fair Value
Fair value is the price at which an asset could be exchanged between knowledgeable, willing parties in an arm’s-length transaction.
3.
Read MoreTraditional vs. Modern Business: Understanding Key Differences & Objectives
Traditional vs. Modern Business
Organizational Structure
- Traditional: Hierarchical, top-down management
- Modern: Flat or matrix-based, collaborative
Decision Making
- Traditional: Centralized by top management
- Modern: Decentralized, involving teams or AI
Communication
- Traditional: Formal, face-to-face or memos
- Modern: Informal, digital tools (emails, chats)
Technology
- Traditional: Manual processes, limited technology
- Modern: Embraces technology for automation
Customer Interaction
- Traditional: Limited, physical stores
Regulations on Working Hours and Overtime Calculation
Week Starting Tema6-1
Week starting Tema6-1 is divided by a minimum break of one hour. Jornada there continued interruption in the day. Ordinary Day or Normal maximum d this time is 40h semanales. If takes place this time an even distribution has the following limits d distribution:
- a) Stop Working Daily from 9am but not ordinary trabajo. Los under 18 may not exceed from 8 am daily including training time.
- b) Minimum Hours of Rest must be a minimum of 12 hours between day and day for older and younger