Macroeconomic Objectives: Achieving Full Employment and Price Stability
Macroeconomic Objectives: Balance and Changes
The set of macroeconomic objectives can be summarized in one: to achieve full employment with price stability and more efficient.
Factors Affecting the Economy
- Internal Market Forces: Changes in population, consumer behavior, investment, and technological innovation.
- External Perturbations: Events that happen around us and influence the government.
- Government Action: Directing and controlling the economy through fiscal and monetary policy.
Objectives of a
Read MoreUnderstanding Unemployment and Inflation: Key Concepts
Understanding Unemployment
Employed, unemployed, and inactive.
- Unemployment rate: Percentage of the active population that is unemployed.
- Participation rate: Percentage of the adult population that belongs to the workforce.
- Discouraged workers: People who would like to work but have given up searching.
Unemployment Rate
- Frictional Unemployment: Unemployment that occurs because workers take time to find the job that best matches their tastes and skills.
- Structural Unemployment: Unemployment due to the number
Hotel Classification, Ownership Models, and Housekeeping Standards
Hotel Classification and Ownership
Guest Segments
- Leisure: Individuals and groups
- Business: Individuals, groups, military staff, government staff
Classification
- Location: City center, resort, airport, suburban, highway
- Price: Limited price, mid-range, first-class/luxury
- Star Rating: 1-5 (criteria differ depending on the country)
- Other Categories: All-suite, conference, timeshare/condo, spa, golf resort, theme resort, rural, boutique
- Ownership:
- Independent
- Referral association
- Chain
Hotel Chain Ownership Models
1.
Read MoreEconomic Activity: Production, Distribution, Consumption
Economic Activity: Production, Distribution, and Consumption
Economic activity refers to the different processes that occur during the production and consumption of goods and services. There are three phases: production, distribution, and consumption. People obtain the resources they need to live through it. The people, groups, or institutions involved in the economy are called economic agents. There are three main types of economic agents: the family, the company, and the state.
What Is Economic
Read MoreUnderstanding Inflation and Unemployment: Causes and Impacts
Impact of Other Production Costs
Source of inflation: Increasing cost, autonomous, one of the factors involved in the production function, keeping the rest unchanged.
- The potential inflation of these costs will be higher the lower the possibility of replacing the expensive factor.
- The process is enhanced in times of buoyant demand that allow total or partial transfer of costs to prices.
Inflation of Costs and Economic Policy
Whatever the ultimate source of cost inflation, apply two main lines of economic
Read MoreUnderstanding Financial Intermediaries and Their Role
The Financial System
The financial system of a country consists of the set of institutions, financial assets, and markets, with the purpose of channeling the savings created by the spending units with surplus units to deficit spending.
Financial Intermediaries
Financial Intermediaries are the set of specialized institutions in mediating between lenders (who lend money because they have a surplus) and borrowers (who can apply for loans because they have deficits).