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Síganos scarcity choice and opportunity cost graph Facebook. Convenio con. Universidad Francisco de Paula Santander. Convenio con Colegio de Economistas de Lima. Suscríbase a nuestro canal de You Tube - cada scarcity choice and opportunity cost graph publicamos nuevos videos de economía, estadística, finanzas, Excel, etc. Síguenos en Facebook:. Apuntes de clase: Seleccione el tema:. Ejercicios propuestos: Seleccione el tema:. Seleccionar tema Problema económico Modelos de organización económica Teoría de la utilidad Oferta, demanda y elasticidad Producción Costos de producción Competencia perfecta.
Ejercicios resueltos: Seleccione el tema:. Chapter 1: The economic problem Spanish. By Lic. Gabriel Leandro, MBA. Main concepts scarcity choice and opportunity cost graph in this topic:. This is because any individual can consume, save, work, produce, invest, acquire debts, and pay taxes, among many other scarcity choice and opportunity cost graph studied by economics. Some of these variables relate to prices, interest rates, salaries, jobs, exchange rates, etc.
Being able to know and understand these variables is even more important for people who manage businesses since their success is based on an appropriate understanding of the present and future economic environment. This chapter tries what are the 4 elements of negligence in healthcare describe the economic problem, which gives origin to economics, and also studies some models that will illustrate this problem and the way in which society organizes itself to solve it.
The Economic Activity. The economic activity is the interaction between production units, consumers, and interchange. Now, each of the components of the economic activity will be analyzed: recourses, needs and goods. Resource classification:. Classic Version. Alternate Version. Characteristics of resources:. It manifests a lack of something. Types of needs:. Characteristics of needs:. On the contrary of resources, which are scarce, needs are unlimited and more on the desires since in a lifetime we need to supply our needs scarcity choice and opportunity cost graph food, clothing, transportation, communication, housing among many other.
Goods: A good is anything that satisfies needs. The Economic Problem:. As mentioned before, the resources are limited and the needs unlimited. Therefore the economic problem will consist of:. Key questions of economics: The economic problem may be expressed by three basic questions that must be answered by any system of economic organization:. Model of the Transformation Curve:. This is why the model of transformation curve or production frontier is presented.
A model in this context is a simplified representation of reality and its behavior. Assumptions of the model of curve transformation:. Definition of production frontier or curve transformation. Curve transformation or production frontier can be defined as:. For example, imagine an economy that produces coffee of shirts according scarcity choice and opportunity cost graph the following data, where the amount of coffee is given in thousands of sacks per monthand the shirts in thousands of units:.
Graphically it would be represented like this, where the transformation curve is concave downwards:. Applications of the model of curve transformation: Commercial interchange and the corporate advantage. The following table summarizes the way in which each model of economic organizations answers to the three basic economic questions. The three following situations are presented: 1. Goods produced and exchanged in free markets.
Goods produced in markets intervened by the government. Goods and services produced directly by the government. For example, the acquisition of a chair results in an expense for homes, but at the scarcity choice and opportunity cost graph time it will become and income for the producer. This is what positive economics refers to. This is called normative economics. Positive economics uses math, statistics and econometrics to describe the different economic phenomena descriptive economics.
It explains these phenomena through the economic theory, which is divided in microeconomics and macroeconomics. Macroeconomics is the study of economic adds such as, national production and the price level. Microeconomics is the study of consumer and producer behavior that operates in the individual markets of economy. Chapters 1 and 3. Topics 1 and 2. Desde ofrecemos una amplia oferta de cursos de economía, contabilidad, finanzas, mercadeo, métodos de pronósticos, econometría, estadística, Excel, Minitab, gestión del riesgo, servicio al cliente, recursos humanos, gestión de la calidad, entre otros.
Resources: are all the means used for the production of goods and services. Land: It refers to all what is client relationship means of production that are found in nature, such as terrains for agriculture, mineral reserves, rivers, etc.
Work: Consists of the time and effort physical or mental that people assign to the production of goods and services. Capital: It refers to the means created by human beings and work for production, such as machinery, a physical plant of a company, production equipment, among others. Natural resources of value: It refers to the factors that intervene in the production, and are obtained from nature, such as land, rivers, etc. Economically active population or labor force: It refers to the work that can be accomplished by the total of workers with physical and mental capacity, included occupied and unoccupied.
Capital: refers to the means created by human beings and work for production, such as machinery, physical plant of a company, scarcity choice and opportunity cost graph equipment, among others. Technology: Any method to produce a good or service. Business Capacity: consists of a group of abilities and skills that allow coordination for the rest of recourses land, work, capital and technology.
In other words, the capacity to design and create new products, to develop new production processes, etc. Limited: resources are not enough to supply all the possible requirements and needs of the individuals. Changeable: resources may have more than one possible use. For example: a piece of land may be used to plant coffee or build a factory. Partially replaceable: in determined circumstances, a resource may replace another in the production of a good or service.
For example: in an industrial plant, tasks may be carried out manually, but they can also be done automatically by certain machinery. In this case work is substituted by capital. Unlimited Satiable Intensity Temporality. By their abundance or relative shortage Free goods: They are so abundant that no one would be willing to pay for them. For example: scarcity choice and opportunity cost graph.
Economic goods: they are relatively scarce and therefore, have a more elevated cost, such as a book, a pant, etc. Consumer goods: Final scarcity choice and opportunity cost graph destined for a buyer and found in the market. Such is the case of a finished shirt ready to be worn by someone. Production or capital goods: they are goods that are used to produce other goods, for example a sewing machine. Intermediate goods: are goods used in any of the different stages of production and are partially finished such as cloth, string, etc.
Finished goods: products that have reached the final stage of production and are ready to be consumed. For example an automobile, a shirt, etc. Unfinished goods: are the ones that need other stages of production to be concluded. For example only having the sleeves of a shirt. Tangible good: goods that represent material objects: a compact disc or a notebook. Private goods: their use is limited to its owner or producer.
For example an automobile. Public goods: they can be consumed by everyone in a simultaneous manner, even without paying for the good and no one can be excluded from their use. This is the case of street lighting, roads, etc. How to use the limited resources to produce enough goods and services in order to satisfy unlimited needs?
Key questions of economics: The economic problem may be expressed by three basic questions that she just wants a casual relationship be answered by any system of economic organization: What to produce and how much? In other words: What goods and services must be produced and in what amounts?
This question is of economic nature. How to produce? Meaning, How to produce goods? This question is of technical nature and it refers to what technology will be used in the production, what are the necessary materials, what type of workforce, the production process, etc. For whom should one produce?
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