What is expiration?

A definition of maturity is the day on which the term granted for the payment of a debt or obligation. Setting the maturity gives the payment commitment the essential predictability for the proper organization of business. The expiration implies that there is a specific moment in which the creditor You have the possibility to claim … Read more

What is efficiency?

The definition of efficiency is the relationship that exists between the resources used in a project and the results obtained with it. It refers above all to obtaining the same objective with the use of the least possible number of resources or when more goals are reached with the same number of resources or less. … Read more

What is the economic model?

An economic model refers to the set of relationships and phenomena can be represented in a much simpler way to demonstrate a set of variables related to the economy. Types of economic model In macroeconomic models and microeconomic models is how the economic models themselves are classified. In particular, macroeconomic models are in charge of … Read more

What is embezzlement?

In the world of economics, unfortunately, there are also acts against good customs that affect natural and legal persons. Specifically, embezzlement is a crime carried out by an authority or an official when they are carrying out their work. Embezzlement may consist of diverting funds for private or private purposes (for themselves or for third … Read more

What is emancipation?

The concept of emancipation allows a minor who has an age between 16 and 18 years, to have total freedom to act and grants ability to act. This person is endowed with the ability to make decisions and act for himself, as if he were of legal age. Motives for emancipation A person can be … Read more

What is the exchange rate?

The exchange rate is the relationship that exists between the value of a currency or divided among a different one. The concept of exchange rate includes the total number of units that are needed of a currency to know how much is needed until obtaining the unit of another. For this reason, the exchange rate … Read more

What is normative economics?

Normative economics is a type of economic vision that tries to give recommendations, make policies or actions based on personal (or subjective) opinions of what should be done. El objetivo the economía normative is to identify desirable goals to apply positive economics knowledge to achieve them. Positive economics is one that explains economic phenomena objectively, … Read more

What is energy saving?

Saving energy, also known as energy efficiency or energy saving, is a key concept for sustainable development. In a planet where natural resources -especially energy- are wasted, the energy saving plan arises as a need to save available resources, safeguard non-renewable energy sources and reduce the impact of climate change on our planet. Types of … Read more

Definition of E-commerce

E-commerce or electronic commerce is a method that consists of buying and selling goods, products and services through electronic means, such as the Internet and other computer networks. Thanks to the rise of new technologies and broadband, thee-commerceIt has become very popular among users who decide to shop online. Among the advantages of electronic commerce … Read more

What is elasticity in economics?

When we talk about elasticity in economics, we talk about the price elasticity of the demand curve for a certain product or service. Actually, with the concept of elasticity, what is done is to measure the response capacity of a certain good or service to a price change. Thus, the elasticity of demand can be … Read more