Glosary 6 - Activity 9

Market Failure/Falla de mercado: is the economic situation defined by an inefficient distribution of goods and services in the free market. In market failure, the individual incentives for rational behavior do not lead to rational outcomes for the group.
Externalities/Externalidades: a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey.
Deadweight Loss/Pérdida de peso muerto: also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved. That can be caused by monopoly pricing in the case of artificial scarcity, an externality, a tax or subsidy, or a binding price ceiling or price floor such as a minimum wage.
Under-produced/Subproducido: produce less of (a commodity) than is wanted or needed.
Over-consumed/Sobre consumido: que consume mucho

Comentarios

Publicar un comentario

Entradas populares de este blog

Glosary 4 - Activity 6

Consumer/Consumidor: A consumer is a person or organization that uses or consumes economic services or commodities Utility/Utilidad: a large company that provides a service such as electricity, gas, etc. Maximization/Maximización: The profit motive, in the theory in capitalism, is the desire to earn income in the form of profit. Stated differently, the reason for a business's existence is to turn a profit. The profit motive functions according to rational choice theory, or the theory that individuals tend to pursue what is in their own best interests. Accordingly, businesses seek to benefit themselves and/or their shareholders by maximizing profit. Remains/Permanece: the parts left over after other parts have been removed, used, or destroyed. Avoid/Evitar: to stay away from someone or something Forgo/Abstenerse: omit or decline to take (something pleasant or valuable); go without. Tastes/Preferences//Gusto/Preferencias: It assumes a real or imagi...
Leer más

Glosary 3 - Activity 4

1. Nacional output/producción nacional:National production is the Gross National Product (GNP), which is defined as the monetary value of all final goods and services produced in the country in a given period. 2. Economic growth/crecimiento económico:Economic growth is the increase in income or value of final goods and services produced by an economy in a given period. 3. Allocation/asignación:Thing that is assigned; especially amount of money that a person is allocated for performing a job or performing a function. 4. Incide/ingresos:Amount of money earned or collected. 5. Price system/sistema de precios:It is any economic system that makes its distribution of goods and services by assigning prices to said goods and services and using any form of money or debit checks. 6. Polices/politicas:It is the orientation or guideline that must be disclosed, understood and followed by all members of the organization, it includes the rules and responsibilities of each area of ​​the organiza...
Leer más

Glosary 5. Activity 8

1. Equilibrium/ Equilibrio: A state in which opposing forces or influences are balanced. 2. Market Clearing Price/ Precio de equilibrio del Mercado: The price of goods or services that exists when the quantity supplied is equal to the quantity demanded. 3. Below/ Abajo: At a lower level or layer than. 4. Above/ Encima: In or to a higher position than something else. 5. Imbalance/ Desequilibrio: Lack of proportion or relation between corresponding things. 6. Current/ Corriente: something that flows, as a stream. 7. restored / restaurado / return a thing to its previous state. 8. Cutting prices / reducción de precios / price Reduction Strategy: Maintaining a lower price in the market, but without losing the quality of the product within it. 9. attains / alcanza / be enough or enough a thing for some purpose. 10. led/  dirigir / directing is guiding, coordinating, agglutinating, attracting, it is the way to achieve the fulfillment of the Company's Mission. It is to put into o...
Leer más