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The economics is a science that studies the human behaviour as the . . . between the purpose and the limited means that have alternatives applications
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The scarcity implies that there are not . . . resources to produce enough to cover all the needs
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The scarcity also implies that all the society's . . . can not be met at the same time, so it must follow a priority politics
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Useful means everything that has . . . to satisfy human's needs
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Human societies have developed the politics to decide the priorities and the . . . to satisfy them
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The economic agents are: households, firms and . . .
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The . . . takes part in the economy by making laws that regulate the way that the other economic agents act when they go to the market
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The . . . takes part in the economy by offering, at a lower price or for free, goods and services that the society things that it must be able to receive all the population
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The opportunity cost is what an agent . . . when he makes a decision
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The more we spend in national security to protect our coasts from the foreign aggressors (cannons), the less we'll spend in personal goods to . . . the standard of living in our country (butter)
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The legislation that forces the firms to reduce the . . . raises the cost to produce goods and services
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Higher costs can create lower company profits, . . . salaries, higher prices or all the three things at the same time
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The Production Possibility Frontier (PPF) is the group of productive factors or technologies' combinations that reach the . . . production
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The situations that can be given in a country's productive structure are: . . . productive structure, efficient productive structure and unattainable productive structure
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The efficient productive structure is located in the . . . or very near to it
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The unattainable productive structure is . . . because no country can produce more than is possible
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The Production Possibility Frontier (PPF) is . . . because the opportunity cost is increasing
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The displacement of the Production Possiblity Frontier (PPF) can be due to technological improvements, an . . . in capital, an increase of workers or the discovery of new natural resources
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The . . . is to buy or to sell without use cash money
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The first jobs in the first sedentary communities of human beings, like . . . or metal working, started to develop
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Bartering began with the need to exchange what is owned for what is needed. Although, on occasion, many intermediary exchanges were necessary to satisfy needs. That, combined with the growth of settlements and expansion of commercial . . . facilitated the appearance of the concept of “coins”
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The native people of . . . also exchanged their products in markets.
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The first historical signs that we have of money shaped as a coin in the West are those of the . . .
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The states started to issue notes and coins that gave right to the bearer to exchange them for . . . from the country's reserves
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Between 1870 and the 1st World War the Gold . . . was mainly adopted
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By the end of the 2nd World War the allies established a new financial system in the . . .
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By 1971 the USA's expansive fiscal politics cause the abundance of dollars, which created doubts about its convertibility to . . .
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In December of 1971, the president of the United States, Richard Nixon, suspended on his own the dollar conversion to gold and devalued the dollar by . . .%
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The monetary authorities and the Central Banks take part in the exchange market with the objective of maintaining at short-term the prices' . . .
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In capitalism the . . . is fixed in economic action so that capital accumulates.
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The State doesn't take part in . . .
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The most prominent contemporary representatives scholars for the . . . school of economics are Ludwing von Mises and Friedrich Hayek
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John Maynar Keynes holds that the State can increase the effective demand by avoiding the cyclical . . .
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The . . . needed a huge bureaucracy at the service of the State, so the decisions and the reaction capacity were slower
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The centralice planning economy appeared due to the state of emergency and the war economy for the war against the White Army and the . . . during the Russian Civil War
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The . . . economy was extended after the 2nd World War for all The East Europe and many asian countries, under the Soviet Union and the Komintern
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In the case of the USSR, it had to assign a huge amount of its budget to maintain the army and the war technology in its . . . War with the USA.
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. . . is trying to defend the centralized economic system by making some reforms or concessions in strategic sectors, like tourism, to the market economy, prevailing abroad
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A production process converts inputs into outputs (. . .) with physical, technological, human and other types of resources
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The three factors that Classic economists use are: land, . . . and capital
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Neoclassic economist only use . . . and labour
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In the economy of knowledge and business development produced since the end of the . . . Century, people consider that technology and science (what has been called R&D -Research and Development- or even R, D&I - Research, Development and Innovation -) is a 4th factor of production that characterizes more and more the production in the industrialised countries.
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To the concept of physical capital or financial capital is added the concept of human capital or intellectual capital, even . . . capital, as a way of explaining the improvement of the productivity that isn't due to the other factors
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The new factors of production are: natural capital, physical capital, material labour and intangible capital (know-how, organization, non-physical but computable assests, . . ., knowledge economy)
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Added Value is the increase in value that is produced in a good in each . . . of the production process
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The division of labour, generally speaking, deals about specialization and cooperation of the labour forces in tasks and . . ., with the objective of improving efficiency.
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The . . . division is a group of jobs executed before by one person but today is divided into different professions
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The . . . product is the amount of units of product that are obtained for every unit of factor used
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A greater productivity using the same resources or producing the same goods or services equals . . . profitability for the company
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The . . . is a measurement of the effect of the economies of scale, in which the total production increases more in proportion to the amount that each factor of production increases.
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The . . . need the foreign powers for their development
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The business . . . manages and plans the activities of the purchasing, production, transport, warehousing, maintenance and distribution departments
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The Grundy's Four P's are: product, price, distribution or place and advertising or . . .
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The agriculture belongs to the . . . sector
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The industrial firms are in the . . . sector
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In the firms that belong to only one person, this person has a unlimited responsability (with . . . he owns)
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A . . . has 10 workers or less
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The firm classification according to who is the owner is: private sector company, public sector company, mixed company and . . . company
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The firm classification according to the market share is: . . . firm, specialist firm, leader firm and follower firm
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Total costs are those that a company has in a production process or activity. They are the sum of . . . costs and variable costs
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If the activity level decreases, . . . costs decrease
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In Microeconomic Theory variable costs are not linear, at the beginning they are more . . . but after that they are less increasing
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Profit is output value . . . input value
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In Andalusia, traditionally the main products have been . . ., olive tree and grapewine.
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In Andalusia, greenhouse farming, mainly in . . . has also increased.
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In Andalusia, the most important animals in . . . are partridges, rabbits, hares, quails, thrush, pigeons, etc
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. . . sector was minority and now it is majority in the western economies
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What would be the added value in the first stage of the production if the wood is sold at 1 €, the wholesale chair at 15 € and the retail chair at 30 €?
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What would be the added value in the second stage of the production if the wood is sold at 1 €, the wholesale chair at 15 € and the retail chair at 30 €?
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What would be the added value in the third stage of the production if the wood is sold at 1 €, the wholesale chair at 15 € and the retail chair at 30 €?
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What would be the marginal product for three workers, if the total products, according to the number of workers are: 1-19,800, 2-38,280, 3-54,780? Two decimal numbers, by rounding (when it be necessary)
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What would be the marginal product for three workers, if the average products, according to the number of workers are: 1-44,720, 2-39,520, 3-31,200? Two decimal numbers, by rounding (when it be necessary)
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What would be the total product for three workers, if the average products, according to the number of workers are: 1-14,310, 2-12,960, 3-8,100? Two decimal numbers, by rounding (when it be necessary)
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What would be the total product for three workers, if the marginal products, according to the number of workers are: 1-19,610, 2-17,760, 3-11,100? Two decimal numbers, by rounding (when it be necessary)
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What would be the average product for three workers, if the marginal products, according to the number of workers are: 1-198,900, 2-192,400, 3-169,000? Two decimal numbers, by rounding (when it be necessary)
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What would be the average product for three workers, if the total products, according to the number of workers are: 1-113,220, 2-183,520, 3-236,800? Two decimal numbers, by rounding (when it be necessary)