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BUSINESS ECONOMICS - Coggle Diagram

- - - - .The economy is the correct and prudent administration of goods
      - It is the science of scarcity.
      - It is the science of how to solve unlimited needs with limited resources.
  - - - c.Soviet Communism
        
        It refers to the dominant economic system in eastern Europe, Russia, China and other countries during much of the 20th century and thus differentiated from the socialist and communist systems envisioned by Karl Marx.
      - d. Feudalism
        
        It arises when in the ninth century, the Germanic invaders made the division of the conquered lands between the nobles and the warriors.
      - b. Slavery
        
        It was born as a consequence of the advancement in production and the division of labor.
      - e. The Capitalism
        
        It appears naturally, around the eighteenth century, when international trade spread and technical and scientific advances burst into Great Britain and Western Europe. Its validity continues to this day.
      - a. Primitive Communism
        
        It is linked to the first historical data on human life on earth.
      - f. The Economic System of the Future
        
        Today electronic commerce makes it available to anyone to offer their products or services anywhere on the globe.
  - - - Needs were exceeding resources, thus making it appear that practices that developed became what we know as economics.
      - The economy was born out of hunger.
  - - - "scarce" is associated with the concept "limited or" economic "as opposed to unlimited or free.
        
        Resources are limited (scarce), but needs are limitless.
- - - - .Even natural resources such as flora, fauna, water, minerals, etc., fall into this classification
      - Everything we can touch falls into this classification.
  - - - These resources are used to acquire the necessary resources, either the physical resources to be transformed or the other resources used in the transformation.
      - It refers to money, credits, loans, and investments.
  - - - Time has always been a resource to solve the problem of scarcity and hunger.
      - The problem is not how much time we have, but rather what we do with the time we have, how well we use it.
      - Time is a vital resource
  - - - Human Resources
        
        People are not a resource of a company. People are the company itself.
        
        .We can use the phrase human resources when referring to the resources that people bring to the company: values, experience, culture, attitudes, knowledge and talents
        
        When a person uses his talent for the benefit of an organization, he is giving it the best he has, the best he can give.
        
        Technological
        
        It is the art of knowing does
- - - - The main elements of a market are:
        
        Producers
        
        Are those people or organizations that can meet the needs of customers and try to do so.
        
        Consumers
        
        They are people or organization with needs to satisfy, money to spend and the desire to spend it .
        
        Products
        
        They are the means (articles or services) with which the needs of consumers will be satisfied.
      - A market is people or organization with needs to satisfy, money to spend and the desire to spend it.
- - - - Customs unions
        
        Common Market
        
        Free Trade Zones
        
        Total integration
        
        Customs preferences system.
        
        The possible forms of economic integration could be:
      - Effects on Administration Services
        
        They arise from the elimination of many customs and administrative services, it is a saving.
        
        Diversion or traffic effects
        
        These occur when economically integrated countries set their own tariffs for countries outside the bloc, then a competition for tariffs occurs.
        
        Effects on the terms of trade
        
        Changes in trade patterns derived from economic integration will affect the terms of trade with third countries, expressed in the price relationships between imports and exports, thus causing a real income redistribution among associated countries and.
        
        Benefits of Economic Integration
        
        Changes in productivity as a consequence of greater specialization and the application of the comparative advantages of the members.
        
        Production improvements as a consequence of large-scale production.
        
        Changes in competition and in productive efficiency.
        
        Increase in the level of employment and the volume of production.
        
        Improvements in transport and communication networks in general.
        
        Effects on Consumption
        
        They arise from the substitution of certain goods, whether domestic or foreign, by goods of different species but of the same genus and destined to satisfy the same need, originating in other countries of the union.
        
        Effects on Production
        
        Positive
        
        If it makes possible the substitution of high-cost national sources of supply for production from some of the other member countries with lower costs, the savings would allow a more efficient use of productive resources and an improvement in welfare patterns..
        
        Negative
        
        If what is replaced are lower-cost imports from third countries, by productions originating in the region and with higher costs, there was an increase in expenses.
  - - - The objectives of the FTAA are to preserve and strengthen democracy in the American Continent, eradicate poverty and discrimination, promote economic and sustainable development, open the doors to new markets, and conserve the environment.