What is the Unit of Real Value?

The Unit of Real Value (or in its acronym UVR) was created in 1999 and reflects a unit of account that tries to project the purchasing power of a currency based on the inflation of the previous month, in the country of Colombia. The UVR is often used to calculate the cost of loans that … Read more

What is the urban economy?

The concept of urban economy refers to the area of ​​science that relates economic and urban science. The urban economy studies the economic systems produced in the population in order to carry out analysis of the different urban economic strategies and to be able to translate it, later, into urban planning, projects or programs by … Read more

What is the unemployment rate?

The unemployment rate is an indicator that shows us the number of people in a specific territory who are in a situation of arrest. This data is expressed as a percentage and is essential to assess the economic situation of a country, since it offers us an overview of the number of people who do … Read more

What is unemployment?

As it happens in many terms, unemployment is one of those words that incurs several meanings. Today we are going to explain some of them, the ones that are most related to the economy. In the first place, we can understand unemployment as the state in which a person has become unemployed, that is, they … Read more

What is upcycling?

Upcycling (also known as supra-recycling) refers to the technique that uses recycled materials to transform them into new products, giving them a greater value than they had when they were just waste. This makes the key difference with the downcycling, in which the resulting product is of lower quality than the original. The importance of … Read more

Universal Banking

Universal Banking is a type of Bank whose philosophy is to offer all products and services to all potential customers and throughout the world. It is a banking model that has been favored thanks to phenomena such as globalization and electronic banking, which have made it possible to widely diversify the banking offer. In this … Read more

What is usability?

The concept of usability is used frequently in the field of technology and computing. It comes from usability and means the ease with which a user can use a tool made by other people in order to achieve a goal. Specifically, we are going to focus on the term web accessibility, which is one of … Read more

What is cardinal utility?

According to the theory of cardinal utility we can observe and quantify how satisfied a customer is with a product or service as well as the utility thereof. This is the basic principle on which the economic term of cardinal utility is founded. In this way, it could be said that cardinal utility serves to … Read more

What is the utility?

The concept of utility refers to the measure of satisfaction by which users value the choice of certain services or goods in financial terms. These services and goods have certain properties that satisfy the demands of individuals, having a positive impact on consumers. It is a very broad term, which has multiple meanings. Another useful … Read more

What is the unit price?

Listing all products with different quantities can be a bit confusing when generating bills. The billing regulations require that the concept of unit price appear, to avoid this type of mess. When we talk about unit price, as the name suggests, we mean the quantity per unit (which has only been counted once) of a … Read more