Economic Adjustments: The Late 19th-Century Great Depression
Item 5. Adjustments in the Economy
5.1 The Great Depression
During the late 19th and early 20th centuries, there were significant changes in the global economy. This period, a time of maturity for capitalism, presents two contrasting theories. Depending on the indicators used, conclusions about the era’s evolution differ. If we use changes in profits as an indicator, we find Western Europe immersed in a crisis of contraction, hence the name “Great Depression” or “Finisecular Crisis” (End of the Century
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Venezuelan Economic History: Key Periods and Transformations
Agricultural Period Constitutions
- 1857: Enacted by Congress on April 16, 1857, and promulgated by President José Tadeo Monagas. Its political objective was to allow immediate connection and meet the aspirations of the President.
- 1874: Enacted in Caracas on May 23, 1874, and promulgated by President Antonio Guzmán Blanco on the 27th of the same month.
- 1901: Enacted by Cipriano Castro on March 23, 1901. This constitution, along with the 1904
Rural Enterprise: Key Concepts and Development
Key Concepts of Rural Enterprise and Development
1. Defining Characteristics:
- a. Human capacity to initiate change, identifying opportunities.
- b. Transforming reality through new ideas and projecting a future vision.
- c. A medium for exchange where people buy, sell, or exchange to meet needs and provide products/services.
- d. Must be competitive and purchasable, covering costs and expenses incurred in production.
- e. The person or organization concerned with the product or service’s environmental impact.
Understanding Inflation: Causes, Measurement, and Types
Causes of Inflation
Demand-Pull Inflation
Demand-pull inflation occurs when there is an increase in aggregate demand (the total value of goods and services purchased in an economy over a period of time).
- Monetarists: Believe inflation is caused by an increase in aggregate demand due to an increase in the money supply. They base their explanation on the quantity theory of money:
M (Amount of money / money supply) * V (Velocity of circulation of money) = P (Average level of prices) * Q (Amount of production)
Understanding Bank Account Types: Current and Savings
Understanding Bank Account Types
The most frequent type of account cancellation is initiated by the customer, who must notify the entity and simultaneously balance the account or regulate it if it is overdrawn. In turn, the following formalities must be met:
Current Accounts
For current accounts, the agency requires the submission of the checkbook with unused checks.
Savings Accounts
For savings accounts, the client delivers the savings account book.
Current Accounts: An Overview
A current account is a
Read MoreFactors of Production, Economic Activity, and Exchange
Factors of Production
Resources, also known as factors of production, are inputs used in the production of goods and services. The three primary factors of production are land, labor, and capital, with some economists including entrepreneurship as a fourth factor.
Land
Land encompasses not only farmland but also all natural resources from the ground and sea, such as minerals.
Labor
Labor refers to the physical and intellectual capabilities of human beings involved in the production process. Workers transform
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