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Flashcard 1425578790156

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#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms [...].
Answer
sell output


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Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms sell output. Overall, the study session provides the economic tools for understanding how product and resource markets function and the competitive characteristics of different industries.</

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Study Session 4
nsumption. Reading 15 deals with the theory of the firm, focusing on the supply of goods and services by profit-maximizing firms. That reading provides the basis for understanding the cost side of firms’ profit equation. <span>Reading 16 completes the picture by addressing revenue and explains the types of markets in which firms sell output. Overall, the study session provides the economic tools for understanding how product and resource markets function and the competitive characteristics of different industries.<span><body><html>







Flashcard 1425628597516

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Factors of production are (the [...], labor, physical capital, and materials used in production).
Answer
land


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In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production).

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2. TYPES OF MARKETS
n markets. Investment analysts need at least a basic understanding of those markets and the demand and supply model that provides a framework for analyzing them. Markets are broadly classified as factor markets or goods markets. <span>Factor markets are markets for the purchase and sale of factors of production. In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production). Goods markets are markets for the output of production. From an economics perspective, firms, which ultimately are owned by individuals either singly or in some corporate form, are or







#cfa #cfa-level-1 #demand-function-and-demand-curve #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

Qdx=8.4−0.4Px+0.06(50)−0.01(20)=11.2−0.4Px

Notice that income and the price of automobiles are not ignored; they are simply held constant, and they are “collected” in the new constant term, 11.2. Notice also that we can rearrange Equation 3, solving for Px in terms of Qx. This operation is called “inverting the demand function,” and gives us Equation 4. (You should be able to perform this algebraic exercise to verify the result.)

Equation (4) 

Px = 28 – 2.5Qx  

Equation 4, which gives the per-gallon price of gasoline as a function of gasoline consumed per week, is referred to as the inverse demand function . We need to restrict Qx in Equation 4 to be less than or equal to 11.2 so price is not negative. Henceforward we assume that the reader can work out similar needed qualifications to the valid application of equations. The graph of the inverse demand function is called the demand curve , and is shown in Exhibit 1.1

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3.1. The Demand Function and the Demand Curve
Then we would hold constant the values of income and the price of good Y. In our example, those values are 50 and 20, respectively. So, by inserting the respective values, we would rewrite Equation 2 as Equation (3)  <span>Qdx=8.4−0.4Px+0.06(50)−0.01(20)=11.2−0.4Px Notice that income and the price of automobiles are not ignored; they are simply held constant, and they are “collected” in the new constant term, 11.2. Notice also that we can rearrange Equation 3, solving for P x in terms of Q x . This operation is called “inverting the demand function,” and gives us Equation 4. (You should be able to perform this algebraic exercise to verify the result.) Equation (4)  P x = 28 – 2.5Q x   Equation 4, which gives the per-gallon price of gasoline as a function of gasoline consumed per week, is referred to as the inverse demand function . We need to restrict Q x in Equation 4 to be less than or equal to 11.2 so price is not negative. Henceforward we assume that the reader can work out similar needed qualifications to the valid application of equations. The graph of the inverse demand function is called the demand curve , and is shown in Exhibit 1.1 Exhibit 1. Household Demand Curve for Gasoline This demand curve is drawn with price on the vertical axis and quantity on the horizontal




#cfa #cfa-level-1 #changes-in-demand-vs-movements-along-the-demand-curve #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
More importantly, the shift in demand was both a vertical shift upward and a horizontal shift to the right. That is to say, for any given quantity, the household is now willing to pay a higher price; and at any given price, the household is now willing to buy a greater quantity. Both interpretations of the shift in demand are valid.

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e is a change in a good’s own-price. A change in the value of any other variable will shift the entire demand curve. The former is referred to as a change in quantity demanded, and the latter is referred to as a change in demand. <span>More importantly, the shift in demand was both a vertical shift upward and a horizontal shift to the right. That is to say, for any given quantity, the household is now willing to pay a higher price; and at any given price, the household is now willing to buy a greater quantity. Both interpretations of the shift in demand are valid. EXAMPLE 2 Representing Consumer Buying Behavior with a Demand Function and Demand Curve An individual consumer’s monthly demand for dow




#cfa #cfa-level-1 #economics #market-equilibrium #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Variables other than own price and quantity are determined outside of the demand and supply model of this particular market. Because of that, they are called exogenous variables . Price and quantity, however, are determined within the model for this particular market and are called endogenous variables

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3.6. Market Equilibrium
al gasoline market, the demand function was given by Qdx=f(Px,I,Py) , and the supply function was given by Qsx=f(Px,W) . Those expressions are called behavioral equations because they model the behavior of, respectively, buyers and sellers. <span>Variables other than own price and quantity are determined outside of the demand and supply model of this particular market. Because of that, they are called exogenous variables . Price and quantity, however, are determined within the model for this particular market and are called endogenous variables . In our simple example, there are three exogenous variables (I, P y , and W) and three endogenous variables: P x , Qdx , and Qsx . Hence, we have a system of two equations and three un




#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #the-market-mechanism-iterating-toward-equilibrium
Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears that prices can behave in ways that are not ultimately sustainable in the long run. They may shoot up for a time but ultimately, if they do not reflect actual valuations, the bubble can burst resulting in a “correction” to a new equilibrium.

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3.7. The Market Mechanism: Iterating toward Equilibrium—or Not
price there would be excess demand, thus driving price even higher. At a price below that equilibrium there would be excess supply, thus driving price even lower toward the lower-priced equilibrium, which is a stable equilibrium. <span>Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears that prices can behave in ways that are not ultimately sustainable in the long run. They may shoot up for a time but ultimately, if they do not reflect actual valuations, the bubble can burst resulting in a “correction” to a new equilibrium. As a simple approach to understanding bubbles, consider a case in which buyers and sellers base their expectations of future prices on the rate of change of current prices:




#derecho #introduccion-al-derecho
En conclusión, el deber es simplemente el carácter obligatorio de las exigencias morales y el deber jurídico es la presión que el Estado impone para el cumplimiento de una norma que tiene carácter sancionador, tan es así que el hombre debe acatar determinados mandatos para cumplir los requerimientos normativos, de lo contrario se verá sancionado por el incumplimiento a tal deber.

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#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Exterioridad:
Estas normas no atienden la intención del sujeto, si no que enfocan al resultado material de la conducta, por ejemplo: a este tipo de normas no le interesa si una persona mata a otra que se encuentra en fase de una enfermedad terminal y sufría mucho, y por misericordia se consideró necesario matarlo, de cualquier forma existe el homicidio, o bien es un homicidio imprudencial, toda vez que la persona que decidió matarla no

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1.3.3.1 Clasificación de las normas
onio dos veces con distintas personas, aquí el actuar del individuo no le importó divorciarse del primer matrimonio, ya que según su criterio es bueno el haberlo hecho pero esto es un impedimento que consigna el Código Civil. <span>Exterioridad: Estas normas no atienden la intención del sujeto, si no que enfocan al resultado material de la conducta, por ejemplo: a este tipo de normas no le interesa si una persona mata a otra que se encuentra en fase de una enfermedad terminal y sufría mucho, y por misericordia se consideró necesario matarlo, de cualquier forma existe el homicidio, o bien es un homicidio imprudencial, toda vez que la persona que decidió matarla no 16 tenía la intención, pero de cualquier forma cometió tal acto y es castigado con una sanción que impone el poder del Estado. Incoercibilidad




#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Incoercibilidad:
La aplicación de esta norma no es exigida por el Estado, no puede ser impuesta por la fuerza o coacción, ya que su cumplimiento queda sujeto a la voluntad del individuo, por ejemplo, si una persona muy allegada a la religión, decide no ir a misa, nadie puede obligarla a ir a la fuerza y a consecuencia de su acto no puede ser castigada por su incumplimiento.

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1.3.3.1 Clasificación de las normas
homicidio imprudencial, toda vez que la persona que decidió matarla no 16 tenía la intención, pero de cualquier forma cometió tal acto y es castigado con una sanción que impone el poder del Estado. <span>Incoercibilidad: La aplicación de esta norma no es exigida por el Estado, no puede ser impuesta por la fuerza o coacción, ya que su cumplimiento queda sujeto a la voluntad del individuo, por ejemplo, si una persona muy allegada a la religión, decide no ir a misa, nadie puede obligarla a ir a la fuerza y a consecuencia de su acto no puede ser castigada por su incumplimiento. Coercibilidad: Consiste en que el cumplimiento va a ser exigido al individuo aún en contra de su voluntad e incluso con el uso de la fuerza, por ejemplo: si el padre




#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Autonomía:
Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo.

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1.3.3.1 Clasificación de las normas
xigido al individuo aún en contra de su voluntad e incluso con el uso de la fuerza, por ejemplo: si el padre niega dar alimento a sus hijos menores de edad, la norma jurídica lo sanciona y le ordena cumplir con esa obligación. <span>Autonomía: Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo. Heteronomía: Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo:




#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Heteronomía:
Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo: Las reglas que se aplican al tránsito de vehículos en una ciudad fueron creadas por personas ajenas a quien usualmente conduce su automóvil.

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1.3.3.1 Clasificación de las normas
obligación. Autonomía: Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo. <span>Heteronomía: Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo: Las reglas que se aplican al tránsito de vehículos en una ciudad fueron creadas por personas ajenas a quien usualmente conduce su automóvil. <span><body><html>




#derecho #introduccion-al-derecho #orden-juridico-de-las-normas

la pirámide sirve para reflejar la idea de validez, cada escalón es una especie de eslabón de la cadena de importancia de leyes, dentro del sistema, pero lo que otorga validez al sistema en sí es la norma fundamental. De acuerdo con el ordenamiento jurídico, la Constitución y el resto de normas emanadas de ella son jurídicamente obligatorias.

Así queda el orden de las normas jurídicas:

1) Constitución nacional.

2) Leyes o normas generales.

3) Reglamentos.

4) Negocios y actos jurídicos (contratos, testamentos).

5) Sentencias judiciales y resoluciones administrativas.

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1.3.5 Orden jurídico de las normas
lamentos que leyes y así sucesivamente. 8 Jurista filosófico y político austriaco de origen judío (1881-1973), profesor de filosofía del Derecho en la Universidad de Viena desde 1917. 20 Ahora bien, <span>la pirámide sirve para reflejar la idea de validez, cada escalón es una especie de eslabón de la cadena de importancia de leyes, dentro del sistema, pero lo que otorga validez al sistema en sí es la norma fundamental. De acuerdo con el ordenamiento jurídico, la Constitución y el resto de normas emanadas de ella son jurídicamente obligatorias. Así queda el orden de las normas jurídicas: 1) Constitución nacional. 2) Leyes o normas generales. 3) Reglamentos. 4) Negocios y actos jurídicos (contratos, testamentos). 5) Sentencias judiciales y resoluciones administrativas. <span><body><html>





Orden Jurídico de las normas en México
#derecho #has-images #introduccion-al-derecho #orden-juridico-de-las-normas

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2.1.3.1 La legislación y el proceso legislativo
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo

La legislación es el proceso mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley.

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2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
las siguientes: a) La legislación. b) La costumbre. c) Lajurisprudencia. d) La doctrina. e) Los principios generales del derecho. <span>2.1.3.1 La legislación y el proceso legislativo La legislación es el proceso mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy




Proceso Legislativo
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo
Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados.

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eso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) <span>Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión.

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2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
so mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. <span>En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy




Proceso Legislativo
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo
La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen.

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a, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. <span>La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que

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2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
so mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. <span>En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy




#blue-apron #business-model #citychef #operational-model

Blue Apron aligns its operating model with its business model through:

  • Control of the supply chain. Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment.
  • Bulk purchasing, portioned delivery. Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste.
  • Data analytics. As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software6. The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price.
  • Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms.

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
lity ingredients. On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. <span>Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decision




#blue-apron #citychef

[culinary director] Chris Sorensen’s

[culinary manager] Tim Kemp’s hands.”

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Why Men Love Blue Apron - Vogue
ho only knows how to cook one or two meals off the top of his head—agreed with Henrique’s reasoning. “I don’t have to come up with new recipes,” he said. “If the planning were left to me, I would just eat the same thing over and over again.” <span>As for the explanation behind the man hands pictured in their recipe cards, Wadiak said that was purely a coincidence. “Those hands are either my hands, [culinary director] Chris Sorensen’s hands, or [culinary manager] Tim Kemp’s hands.” The three of them are responsible for testing new recipes in the Blue Apron’s test kitchen and thus end up being photographed the majority of the time. “We’ve had a couple of recipes where it’s women testing,” he said. “But if you have one of those cards, they’re basically considered a collector’s item.” [emptylink] [imagelink] Subscribe now6 Issues for $




#blue-apron #citychef
Blue Apron has just announced that it closed a $135 million round of funding led by Fidelity Management and Research Company, with participation from existing investors

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Blue Apron Eats Up $135M At A $2B Valuation | TechCrunch
[emptylink] Next Story Inside GoPro’s Ambitious Plan To Connect Their Cameras To The Cloud <span>Blue Apron has just announced that it closed a $135 million round of funding led by Fidelity Management and Research Company, with participation from existing investors. The WSJ reported last month that this round was being sought at a $2 billion valuation. Update 10:30am ET: A Blue Apron spokesperson has just confirmed to TechCrunch that this rou




Flashcard 1428074401036

Tags
#derecho #introduccion-al-derecho
Question
las normas en general derivan del [...]
Answer
Derecho natural


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las normas en general derivan del Derecho natural y de éste resultan o emanan las leyes naturales y las leyes sociales,

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1.3LA NORMA
Antes de profundizar en el tema de la norma, es pertinente mencionar que las normas en general derivan del Derecho natural y de éste resultan o emanan las leyes naturales y las leyes sociales, como se explicará a detalle en el siguiente apartado. Ahora bien, el Derecho depende de la norma, de la sanción que el Estado impone a los ciudadanos para la convivencia







Flashcard 1428077022476

Tags
#derecho #introduccion-al-derecho
Question
el Derecho depende de la [...], de la sanción que el Estado impone a los ciudadanos para la convivencia en sociedad
Answer
norma


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el Derecho depende de la norma, de la sanción que el Estado impone a los ciudadanos para la convivencia en sociedad

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1.3LA NORMA
de la norma, es pertinente mencionar que las normas en general derivan del Derecho natural y de éste resultan o emanan las leyes naturales y las leyes sociales, como se explicará a detalle en el siguiente apartado. Ahora bien, <span>el Derecho depende de la norma, de la sanción que el Estado impone a los ciudadanos para la convivencia en sociedad, de aquí es donde surge el Derecho. Toda conducta humana debe ser regida por diferentes tipos de reglas de comportamiento, a las que se les llama norma. Las n







Flashcard 1428078857484

Tags
#derecho #introduccion-al-derecho
Question
Las normas se clasifican en normas morales, [...], sociales y jurídicas.
Answer
religiosas


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Las normas se clasifican en normas morales, religiosas, sociales y jurídicas.

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1.3LA NORMA
Estado impone a los ciudadanos para la convivencia en sociedad, de aquí es donde surge el Derecho. Toda conducta humana debe ser regida por diferentes tipos de reglas de comportamiento, a las que se les llama norma. <span>Las normas se clasifican en normas morales, religiosas, sociales y jurídicas. La palabra norma suele usarse en dos sentidos: uno amplio (Latu sensu), y otro estricto (Stricto sensu), en sentido amplio, es aplicado a toda regla de comportamiento human







Flashcard 1428080692492

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#derecho #introduccion-al-derecho
Question
Las normas [...] comprenden a las morales, la costumbre, el trato social, las jurídicas, la religión
Answer
éticas


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Las normas éticas comprenden a las morales, la costumbre, el trato social, las jurídicas, la religión

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1.3LA NORMA
dos sentidos: uno amplio (Latu sensu), y otro estricto (Stricto sensu), en sentido amplio, es aplicado a toda regla de comportamiento humano, sea obligatoria o no obligatoria, y se clasifica en dos grandes grupos: normas técnicas y éticas. <span>Estas últimas, comprenden a las morales, la costumbre, el trato social, las jurídicas, la religión; las normas técnicas son las reglas que sirven a la persona para la realización material de un objeto, no son de carácter obligatorio sino potestativo; en sentido estricto, correspon







Flashcard 1428082527500

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#derecho #introduccion-al-derecho
Question
[...]: Regla de comportamiento obligatoria o no.
Answer
Latu sensu


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Latu sensu: Regla de comportamiento obligatoria o no.

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1.3LA NORMA
nfiere derechos. Las normas pertenecen al ámbito del deber ser; son formas de regulación de la conducta que surgen de la voluntad del hombre. En resumen, la norma se conceptualiza de la siguiente forma:4 <span>Latu sensu: Regla de comportamiento obligatoria o no. Stricto sensu: Establecen deberes y otorga derechos. Norma <span><body><html>







Flashcard 1428084362508

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#derecho #introduccion-al-derecho
Question
Aristóteles destacó al derecho natural como la facultad o sentimiento de [...], reputándolo como una característica esencial y específica del ser humano que lo distinguía de las otras especies naturales
Answer
lo justo y lo injusto


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Aristóteles destacó al derecho natural como la facultad o sentimiento de lo justo y lo injusto, reputándolo como una característica esencial y específica del ser humano que lo distinguía de las otras especies naturales

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1.3.1 Leyes naturales
yes naturales son el Derecho natural, teóricamente es el conjunto de las normas que los hombres deducen de la intimidad, de su propia conciencia y que estiman como expresión de la justicia en un momento histórico determinado.5 <span>Aristóteles destacó al derecho natural como la facultad o sentimiento de lo justo y lo injusto, reputándolo como una característica esencial y específica del ser humano que lo distinguía de las otras especies naturales.6 La distinción del Derecho con el Derecho natural es que el primero es creado de acuerdo con el comportamiento del hombre y sancionado por el Estado, y el segundo es el d







Flashcard 1428086197516

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#derecho #introduccion-al-derecho
Question

Las Normas jurídicas Son reglas de conducta expedidas por [...] para regular la pacífica convivencia de los seres humanos integrantes de una sociedad.

Answer
el poder público


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Las Normas jurídicas Son reglas de conducta expedidas por el poder público para regular la pacífica convivencia de los seres humanos integrantes de una sociedad y cuya observancia no está sujeta a la aceptación o no por parte del destinatario, ya que si és

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Normas y asi
equisito para ser bien recibido en su entorno y que si no son acatados traería como consecuencia el menosprecio o repudio del grupo social. Ejemplo: vestirse de etiqueta en una reunión de clase alta y comportarse con cortesía. <span>1.3.2.4 Normas jurídicas Son reglas de conducta expedidas por el poder público para regular la pacífica convivencia de los seres humanos integrantes de una sociedad y cuya observancia no está sujeta a la aceptación o no por parte del destinatario, ya que si éste no cumple, puede verse forzado a cumplirlas por medio de la coacción, haciendo uso de la fuerza que tiene el Estado. Ejemplo: la aplicación de una sanción por el Código Penal de determinada entidad si una persona mata a otro ser humano. 1.3.3 Características de las normas Las normas que se describieron en el subtema anterior se clasifican de acuerdo con su ámbito de aplicación en relación







Flashcard 1428087770380

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#clasificacion-de-las-normas #derecho #introduccion-al-derecho #normas-unilaterales
Question
Las normas unilaterales no prevén la existencia de [...] para [...] el [...] de las obligaciones contenidas en esa norma al destinatario
Answer
un sujeto facultado para exigir el cumplimiento


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l>Unilateralidad: Consiste en que las normas unilaterales no prevén la existencia de un sujeto facultado para exigir el cumplimiento de las obligaciones contenidas en esa norma al destinatario, es decir, o confieren facultades o imponen obligaciones, por ejemplo: un poder notarial, un convenio, un contrato<html>

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1.3.3.1 Clasificación de las normas
Unilateralidad: Consiste en que las normas unilaterales no prevén la existencia de un sujeto facultado para exigir el cumplimiento de las obligaciones contenidas en esa norma al destinatario, es decir, o confieren facultades o imponen obligaciones, por ejemplo: un poder notarial, un convenio, un contrato. Bilateralidad: Estas normas contemplan la existencia de un derecho que es desprendido de una obligación o viceversa y por lo tanto, la de un sujeto autorizado para e







Flashcard 1428089605388

Tags
#derecho #introduccion-al-derecho
Question
Interioridad:
En el actuar del individuo lleva [...] para [...] es decir, que sin importar el resultado material de la conducta, la persona actúa de acuerdo con su propia conciencia de lo que él considera bueno o malo.
Answer
la intención para cumplir una determinada norma,


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Interioridad: En el actuar del individuo lleva toda la intención para cumplir una determinada norma, es decir, que sin importar el resultado material de la conducta, la persona actúa de acuerdo con su propia conciencia de lo que él considera bueno o malo, un ejemplo de esta norma es

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1.3.3.1 Clasificación de las normas
de compra-venta, el vendedor tiene la obligación de entregar el bien y el comprador de pagarlo o desde otro punto de vista, si el vendedor recibe el dinero, el comprador tiene la obligación de exigirle que le entregue el bien. <span>Interioridad: En el actuar del individuo lleva toda la intención para cumplir una determinada norma, es decir, que sin importar el resultado material de la conducta, la persona actúa de acuerdo con su propia conciencia de lo que él considera bueno o malo, un ejemplo de esta norma es el contraer matrimonio dos veces con distintas personas, aquí el actuar del individuo no le importó divorciarse del primer matrimonio, ya que según su criterio es bueno el haberlo hecho pero esto es un impedimento que consigna el Código Civil. Exterioridad: Estas normas no atienden la intención del sujeto, si no que enfocan al resultado material de la conducta, por ejemplo: a este tipo de normas no le inter







Flashcard 1428093799692

Tags
#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Question
Incoercibilidad:
La aplicación de esta norma no es [...] y no puede [...]
Answer
no es exigida por el Estado

ser impuesta por la fuerza o coacción


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Incoercibilidad: La aplicación de esta norma no es exigida por el Estado, no puede ser impuesta por la fuerza o coacción, ya que su cumplimiento queda sujeto a la voluntad del individuo, por ejemplo, si una persona muy allegada a la religión, decide no ir

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1.3.3.1 Clasificación de las normas
homicidio imprudencial, toda vez que la persona que decidió matarla no 16 tenía la intención, pero de cualquier forma cometió tal acto y es castigado con una sanción que impone el poder del Estado. <span>Incoercibilidad: La aplicación de esta norma no es exigida por el Estado, no puede ser impuesta por la fuerza o coacción, ya que su cumplimiento queda sujeto a la voluntad del individuo, por ejemplo, si una persona muy allegada a la religión, decide no ir a misa, nadie puede obligarla a ir a la fuerza y a consecuencia de su acto no puede ser castigada por su incumplimiento. Coercibilidad: Consiste en que el cumplimiento va a ser exigido al individuo aún en contra de su voluntad e incluso con el uso de la fuerza, por ejemplo: si el padre







Flashcard 1428096683276

Tags
#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Question
Exterioridad:
Estas normas no atienden a la [...] del sujeto si no que enfocan al [...] de la conducta
Answer
la intención del sujeto

resultado material


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Exterioridad: Estas normas no atienden la intención del sujeto, si no que enfocan al resultado material de la conducta, por ejemplo: a este tipo de normas no le interesa si una persona mata a otra que se encuentra en fase de una enfermedad terminal

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1.3.3.1 Clasificación de las normas
onio dos veces con distintas personas, aquí el actuar del individuo no le importó divorciarse del primer matrimonio, ya que según su criterio es bueno el haberlo hecho pero esto es un impedimento que consigna el Código Civil. <span>Exterioridad: Estas normas no atienden la intención del sujeto, si no que enfocan al resultado material de la conducta, por ejemplo: a este tipo de normas no le interesa si una persona mata a otra que se encuentra en fase de una enfermedad terminal y sufría mucho, y por misericordia se consideró necesario matarlo, de cualquier forma existe el homicidio, o bien es un homicidio imprudencial, toda vez que la persona que decidió matarla no 16 tenía la intención, pero de cualquier forma cometió tal acto y es castigado con una sanción que impone el poder del Estado. Incoercibilidad







Flashcard 1428100877580

Tags
#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Question
Autonomía:
Estas normas son creadas por [...], con el fin de regular [...] , por ejemplo: [...] .
Answer
la conciencia misma del individuo que habrá de obedecerlas

su propia conducta

bañarse todos los días e ir al trabajo


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Autonomía: Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo.

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1.3.3.1 Clasificación de las normas
xigido al individuo aún en contra de su voluntad e incluso con el uso de la fuerza, por ejemplo: si el padre niega dar alimento a sus hijos menores de edad, la norma jurídica lo sanciona y le ordena cumplir con esa obligación. <span>Autonomía: Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo. Heteronomía: Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo:







Flashcard 1428104285452

Tags
#clasificacion-de-las-normas #derecho #introduccion-al-derecho
Question
Heteronomía:
Son las reglas que enfrenta una persona, provienen del medio [...] , es decir, son creadas por entidades distintas al [...] ,
Answer


externo

destinatario de la norma


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Heteronomía: Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo: Las reglas que se aplican al tránsito de vehículos en una ciudad fuer

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1.3.3.1 Clasificación de las normas
obligación. Autonomía: Estas normas son creadas por la conciencia misma del individuo que habrá de obedecerlas, con el fin de regular su propia conducta, por ejemplo: bañarse todos los días e ir al trabajo. <span>Heteronomía: Son las reglas que enfrenta una persona, provienen del medio externo, es decir, son creadas por entidades distintas al destinatario de la norma, ejemplo: Las reglas que se aplican al tránsito de vehículos en una ciudad fueron creadas por personas ajenas a quien usualmente conduce su automóvil. <span><body><html>







Flashcard 1428111363340

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
[...] is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good.
Answer


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utomobile prices are measured in thousands. Note that the sign on the own-price variable is negative, thus, as the price of gasoline rises, per household weekly consumption would decrease by 0.4 gallons for every dollar increase in gas price. <span>Own-price is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good.<span><body><html>

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3.1. The Demand Function and the Demand Curve
e purchased and driven; hence less gasoline will be consumed. As will be discussed later, such a relationship would indicate that gasoline and automobiles have a negative cross-price elasticity of demand and are thus complements. <span>To continue our example, suppose that the price of gasoline (P x ) is $3 per gallon, per household income (I) is $50,000, and the price of the average automobile (P y ) is $20,000. Then this function would predict that the per-household weekly demand for gasoline would be 10 gallons: 8.4 − 0.4(3) + 0.06(50) − 0.01(20) = 8.4 − 1.2 + 3 − 0.2 = 10, recalling that income and automobile prices are measured in thousands. Note that the sign on the own-price variable is negative, thus, as the price of gasoline rises, per household weekly consumption would decrease by 0.4 gallons for every dollar increase in gas price. Own-price is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good. In our example, there are three independent variables in the demand function, and one dependent variable. If any one of the independent variables changes, so does the value







Flashcard 1428113984780

Tags
#13-dic-2016 #el-financiero #enrique-quintana #noticias
Question
Para los importadores, el dólar caro ha sido costoso y creo que inevitablemente tendrá repercusión en [...]
Answer
la inflación.


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Para los importadores, el dólar caro ha sido costoso y creo que inevitablemente tendrá repercusión en la inflación.

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Un dólar estable… e incierto
crudo, tras el acuerdo de reducción de producción que se obtuvo. Si los precios del crudo mantuvieran una tendencia hacia arriba, entonces, quizás habría otro factor que pudiera propiciar una paridad más fuerte del peso. <span>Para los importadores, el dólar caro ha sido costoso y creo que inevitablemente tendrá repercusión en la inflación. Pero para otros sectores se trata de una bendición. Este fin de año se pronostica como el mejor en una década para el turismo nacional, por la reducción de viajes al extranje







Article 1428115557644

Yellen Outlook Blurred by Trump Fiscal Plans: Decision-Day Guide
#14-dic-2016 #bloomberg #noticias

Federal Reserve leaders convene in Washington this week to discuss interest rates for the first time since the U.S. presidential election sent long-term bond yields and equity markets soaring on bets the new administration will stimulate growth. While a quarter-point rate hike on Wednesday to a range of 0.5 percent to 0.75 percent is practically a foregone conclusion, investors will be keen to see how policy makers change their 2017 forecasts and what Fed Chair Janet Yellen has to tell journalists. She is scheduled to give a press conference 30 minutes after the 2 p.m. release of a post-meeting statement and new projections. Here’s what to watch for: The so-called “dot plot” graphic, which contains rate forecasts of each of the 17 officials on the policy-setting Federal Open Market Committee, will give an early glimpse of their thinking about next steps. When the dots were last updated in September, the median projection -- shared by nine of the 17 central bankers -- called for two rate increases ne



#14-dic-2016 #bloomberg #noticias

Federal Reserve leaders convene in Washington this week to discuss interest rates for the first time since the U.S. presidential election sent long-term bond yields and equity markets soaring on bets the new administration will stimulate growth.

While a quarter-point rate hike on Wednesday to a range of 0.5 percent to 0.75 percent is practically a foregone conclusion, investors will be keen to see how policy makers change their 2017 forecasts and what Fed Chair Janet Yellen has to tell journalists. She is scheduled to give a press conference 30 minutes after the 2 p.m. release of a post-meeting statement and new projections.

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Yellen Outlook Blurred by Trump Fiscal Plans: Decision-Day Guide
Federal Reserve leaders convene in Washington this week to discuss interest rates for the first time since the U.S. presidential election sent long-term bond yields and equity markets soaring on bets the new administration will stimulate growth. While a quarter-point rate hike on Wednesday to a range of 0.5 percent to 0.75 percent is practically a foregone conclusion, investors will be keen to see how policy makers change their 2017 forecasts and what Fed Chair Janet Yellen has to tell journalists. She is scheduled to give a press conference 30 minutes after the 2 p.m. release of a post-meeting statement and new projections. Here’s what to watch for: The so-called “dot plot” graphic, which contains rate forecasts of each of the 17 officials on the policy-setting Federal Open Market Committee, w




#14-dic-2016 #bloomberg #noticias
The Fed’s statement will probably strike a slightly more upbeat tone on the state of the economy than previous communiques, especially after a Labor Department report this month showed the unemployment rate dropping to a nine-year low of 4.6 percent. Other economic indicators published in December, including consumer and business sentiment, point to an uptick in growth.

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Yellen Outlook Blurred by Trump Fiscal Plans: Decision-Day Guide
t of President-elect Donald Trump’s policies. “What seems likely is that the slide down in the dots that has been going on for quite a while should come to an end,” Perli said. Upbeat Tone <span>The Fed’s statement will probably strike a slightly more upbeat tone on the state of the economy than previous communiques, especially after a Labor Department report this month showed the unemployment rate dropping to a nine-year low of 4.6 percent. Other economic indicators published in December, including consumer and business sentiment, point to an uptick in growth. While central bankers may not be ready to change their forecasts for gross domestic product just yet, they could cut their estimates of the natural rate of unemployment tha




Article 1428120014092

Informalidad ‘captura’ hasta un cuarto de la economía del país
#14-dic-2016 #el-financiero #noticias

La economía informal en México redujo el año pasado marginalmente su participación porcentual en el indicador agregado, ya que en 2014 su contribución fue de 23.9%, de acuerdo con cifras del Inegi. La economía informal en México empleó en 2015 a seis de cada 10 personas pero sólo contribuyó en 23.6 por ciento del Producto Interno Bruto (PIB), lo que es una disminución marginal respecto de 2014, año en el que la informalidad participó con 23.9 por ciento, indicó el Instituto Nacional de Estadística y Geografía (INEGI). En tanto, el año pasado, 76.4 por ciento del PIB del país fue generado en el sector formal, ubicándose como el mayor aporte del sector al menos desde 2003, señala el reporte Medición de la Economía Informal 2015. Clemente Ruíz, catedrático del Instituto de Investigaciones Económicas de la UNAM, señaló que el valor agregado de la informalidad es bajo si se considera que 57.9 por ciento de la población está ocupada en ese ámbito y subrayó que en la informalidad hay muchas empresas famil



#14-dic-2016 #el-financiero #noticias
La economía informal en México redujo el año pasado marginalmente su participación porcentual en el indicador agregado, ya que en 2014 su contribución fue de 23.9%, de acuerdo con cifras del Inegi.

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Informalidad ‘captura’ hasta un cuarto de la economía del país
La economía informal en México redujo el año pasado marginalmente su participación porcentual en el indicador agregado, ya que en 2014 su contribución fue de 23.9%, de acuerdo con cifras del Inegi. La economía informal en México empleó en 2015 a seis de cada 10 personas pero sólo contribuyó en 23.6 por ciento del Producto Interno Bruto (PIB), lo que es una disminución




#14-dic-2016 #el-financiero #noticias
La economía informal en México empleó en 2015 a seis de cada 10 personas pero sólo contribuyó en 23.6 por ciento del Producto Interno Bruto (PIB), lo que es una disminución marginal respecto de 2014, año en el que la informalidad participó con 23.9 por ciento, indicó el Instituto Nacional de Estadística y Geografía (INEGI).

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Informalidad ‘captura’ hasta un cuarto de la economía del país
>La economía informal en México redujo el año pasado marginalmente su participación porcentual en el indicador agregado, ya que en 2014 su contribución fue de 23.9%, de acuerdo con cifras del Inegi. La economía informal en México empleó en 2015 a seis de cada 10 personas pero sólo contribuyó en 23.6 por ciento del Producto Interno Bruto (PIB), lo que es una disminución marginal respecto de 2014, año en el que la informalidad participó con 23.9 por ciento, indicó el Instituto Nacional de Estadística y Geografía (INEGI). En tanto, el año pasado, 76.4 por ciento del PIB del país fue generado en el sector formal, ubicándose como el mayor aporte del sector al menos desde 2003, señala el reporte




#14-dic-2016 #el-financiero #noticias
En tanto, el año pasado, 76.4 por ciento del PIB del país fue generado en el sector formal, ubicándose como el mayor aporte del sector al menos desde 2003, señala el reporte Medición de la Economía Informal 2015.

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Informalidad ‘captura’ hasta un cuarto de la economía del país
en 23.6 por ciento del Producto Interno Bruto (PIB), lo que es una disminución marginal respecto de 2014, año en el que la informalidad participó con 23.9 por ciento, indicó el Instituto Nacional de Estadística y Geografía (INEGI). <span>En tanto, el año pasado, 76.4 por ciento del PIB del país fue generado en el sector formal, ubicándose como el mayor aporte del sector al menos desde 2003, señala el reporte Medición de la Economía Informal 2015. Clemente Ruíz, catedrático del Instituto de Investigaciones Económicas de la UNAM, señaló que el valor agregado de la informalidad es bajo si se considera que 57.9 por ciento




#14-dic-2016 #el-financiero #noticias
Clemente Ruíz, catedrático del Instituto de Investigaciones Económicas de la UNAM, señaló que el valor agregado de la informalidad es bajo si se considera que 57.9 por ciento de la población está ocupada en ese ámbito y subrayó que en la informalidad hay muchas empresas familiares que no tienen acceso a apoyos que los hagan más eficientes.

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Informalidad ‘captura’ hasta un cuarto de la economía del país
INEGI). En tanto, el año pasado, 76.4 por ciento del PIB del país fue generado en el sector formal, ubicándose como el mayor aporte del sector al menos desde 2003, señala el reporte Medición de la Economía Informal 2015. <span>Clemente Ruíz, catedrático del Instituto de Investigaciones Económicas de la UNAM, señaló que el valor agregado de la informalidad es bajo si se considera que 57.9 por ciento de la población está ocupada en ese ámbito y subrayó que en la informalidad hay muchas empresas familiares que no tienen acceso a apoyos que los hagan más eficientes. “Mientras tengamos esa estructura de ocupación en el sector informal, no habrá manera de subir la productividad, se necesitan políticas de apoyo pues las acciones que han hab




Article 1428127616268

La oportunidad que nos da la informalidad
#14-dic-2016 #el-financiero #enrique-quintana #noticias

¿Es usted informal? En ese caso, su productividad promedio es de 144 mil pesos por año. Es decir, como trabajador del sector formal, tiene usted una productividad laboral que supera en 4.4 veces a la de quien labora en la informalidad. Esta es otra de las enormes desigualdades que existen en el país, además de las de carácter regional o de estrato social. Pero, al mismo tiempo nos señala una de las grandes oportunidades que tiene México. Si tan sólo la tercera parte de los informales pasara a formar parte del sector formal de la economía, eso significaría que casi 10 millones de trabajadores podrían aumentar su productividad de manera radical. Con los datos señalados arriba, ese cambio implicaría un crecimiento del PIB en 27 por ciento. Pero no pensemos que ese proceso pueda suceder como por un milagro. Aun si tardara una década completa, ese tránsito a la formalidad daría lugar al crecimiento de 2.4 puntos porcentuales del PIB cada año. Tan sólo ese cambio duplicaría el ritmo de crecimie



#14-dic-2016 #el-financiero #enrique-quintana #noticias
como trabajador del sector formal, tiene usted una productividad laboral que supera en 4.4 veces a la de quien labora en la informalidad

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La oportunidad que nos da la informalidad
¿Es usted informal? En ese caso, su productividad promedio es de 144 mil pesos por año. Es decir, como trabajador del sector formal, tiene usted una productividad laboral que supera en 4.4 veces a la de quien labora en la informalidad. Esta es otra de las enormes desigualdades que existen en el país, además de las de carácter regional o de estrato social. Pero, al mismo tiempo nos señala una de




#14-dic-2016 #el-financiero #enrique-quintana #noticias
Si tan sólo la tercera parte de los informales pasara a formar parte del sector formal de la economía, eso significaría que casi 10 millones de trabajadores podrían aumentar su productividad de manera radical.

Con los datos señalados arriba, ese cambio implicaría un crecimiento del PIB en 27 por ciento.

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La oportunidad que nos da la informalidad
ad. Esta es otra de las enormes desigualdades que existen en el país, además de las de carácter regional o de estrato social. Pero, al mismo tiempo nos señala una de las grandes oportunidades que tiene México. <span>Si tan sólo la tercera parte de los informales pasara a formar parte del sector formal de la economía, eso significaría que casi 10 millones de trabajadores podrían aumentar su productividad de manera radical. Con los datos señalados arriba, ese cambio implicaría un crecimiento del PIB en 27 por ciento. Pero no pensemos que ese proceso pueda suceder como por un milagro. Aun si tardara una década completa, ese tránsito a la formalidad daría lugar al crecimiento de 2.4 puntos




#14-dic-2016 #el-financiero #enrique-quintana #noticias
Si tan sólo la tercera parte de los informales pasara a formar parte del sector formal de la economía, eso significaría que casi 10 millones de trabajadores podrían aumentar su productividad de manera radical.

Con los datos señalados arriba, ese cambio implicaría un crecimiento del PIB en 27 por ciento.

Pero no pensemos que ese proceso pueda suceder como por un milagro. Aun si tardara una década completa, ese tránsito a la formalidad daría lugar al crecimiento de 2.4 puntos porcentuales del PIB cada año.

Tan sólo ese cambio duplicaría el ritmo de crecimiento que la economía ha tenido en el último cuarto siglo. De esa relevancia es.

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La oportunidad que nos da la informalidad
ad. Esta es otra de las enormes desigualdades que existen en el país, además de las de carácter regional o de estrato social. Pero, al mismo tiempo nos señala una de las grandes oportunidades que tiene México. <span>Si tan sólo la tercera parte de los informales pasara a formar parte del sector formal de la economía, eso significaría que casi 10 millones de trabajadores podrían aumentar su productividad de manera radical. Con los datos señalados arriba, ese cambio implicaría un crecimiento del PIB en 27 por ciento. Pero no pensemos que ese proceso pueda suceder como por un milagro. Aun si tardara una década completa, ese tránsito a la formalidad daría lugar al crecimiento de 2.4 puntos porcentuales del PIB cada año. Tan sólo ese cambio duplicaría el ritmo de crecimiento que la economía ha tenido en el último cuarto siglo. De esa relevancia es. En el papel, trasladar fuerza laboral de la informalidad a la formalidad puede sonar muy sencillo. En la realidad es extremadamente complejo. Desde que el INEGI lo




#14-dic-2016 #el-financiero #enrique-quintana #noticias
El empleo formal en la economía, aunque produce el 76.4 por ciento del PIB, apenas está compuesto de 21.7 millones de trabajadores, mientras que quienes trabajan en la informalidad suman 29.8 millonesde trabajadores.

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La oportunidad que nos da la informalidad
al máximo peso de la informalidad en el PIB y fue de 26.8 por ciento del PIB. Al cierre del año pasado se bajó a 23.6 por ciento. Es decir, hubo apenas una reducción de 3.2 porcentuales en 6 años, algo así como medio punto por año. <span>El empleo formal en la economía, aunque produce el 76.4 por ciento del PIB, apenas está compuesto de 21.7 millones de trabajadores, mientras que quienes trabajan en la informalidad suman 29.8 millonesde trabajadores. En nuestro complicado mercado laboral, del total del empleo informal, hay 11.5 millones de trabajadores que laboran mayormente en microempresas, mientras que hay otros 18.3 m




Article 1428135218444

Trump sería el factor clave para predecir a la Fed
#14-dic-2016 #el-financiero #noticias

La fortaleza del dólar desatada tras las elecciones en Estados Unidos deberán ser consideradas por el banco central, aseguran analistas. Una vez que la Reserva Federal (Fed) de Estados Unidos tome hoy su decisión de política monetaria, en la que se espera un aumento de 25 puntos base, los inversionistas buscarán en el discurso y en las previsiones del banco central pistas sobre los siguientes pasos de la autoridad. Las menciones que haga sobre Donald Trump serán la clave para descifrar los próximos movimientos, aseguran analistas. Uno de los factores que la Fed deberá tomar en cuenta es la fortaleza que ha cobrado el dólar desde el triunfo del candidato republicano, ya que ésta ha comenzado a repercutir en la balanza comercial estadounidense, describió Lino Marmolejo, gerente de operación de DerFin. El especialista añadió que también será importante para el banco central considerar si habrá algún cambio en el estatus de los tratados comerciales que Estados Unidos mantiene con otras naciones, ya



#14-dic-2016 #el-financiero #noticias
Rafael Camarena, economista de Santander México, destacó que la Fed podría modificar el ritmo al que subiría las tasas, pero dependerá de la política fiscal que implemente Donald Trump.

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Trump sería el factor clave para predecir a la Fed
amente en el crecimiento económico. Además del comunicado, el banco central publicará sus proyecciones sobre las variables económicas más relevantes, y Janet Yellen ofrecerá una conferencia de prensa a las 13:30 horas. <span>Rafael Camarena, economista de Santander México, destacó que la Fed podría modificar el ritmo al que subiría las tasas, pero dependerá de la política fiscal que implemente Donald Trump. “Será relevante ver la postura que tome la Fed para este miércoles, ya que dará a conocer sus estimados sobre las principales variables económicas, siendo importante la expe




#14-dic-2016 #el-financiero #noticias
Será relevante ver la postura que tome la Fed para este miércoles, ya que dará a conocer sus estimados sobre las principales variables económicas, siendo importante la expectativa de los miembros del Comité respecto de las tasas de interés (dot plot)”, aseveró Camarena.

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Trump sería el factor clave para predecir a la Fed
ncia de prensa a las 13:30 horas. Rafael Camarena, economista de Santander México, destacó que la Fed podría modificar el ritmo al que subiría las tasas, pero dependerá de la política fiscal que implemente Donald Trump. “<span>Será relevante ver la postura que tome la Fed para este miércoles, ya que dará a conocer sus estimados sobre las principales variables económicas, siendo importante la expectativa de los miembros del Comité respecto de las tasas de interés (dot plot)”, aseveró Camarena. Felix Boni, director de Análisis de HR Ratings, dijo la Fed podría decretar una mayor alza de tasas, debido a la expectativa sobre un mayor crecimiento económico en Estados U




#14-dic-2016 #el-financiero #noticias
Si los funcionarios de la Fed elevan la tasa de referencia, la próxima alza sería en junio, según una probabilidad promedio de 35 por ciento asignada por participantes en la encuesta. Atribuyeron una probabilidad de 25 por ciento de que la próxima alza ocurra en marzo, y una probabilidad de 12 por ciento de que la Fed esperará hasta noviembre.

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Trump sería el factor clave para predecir a la Fed
a de tasas, debido a la expectativa sobre un mayor crecimiento económico en Estados Unidos bajo la presidencia de Donald Trump, y coincidió en que la política fiscal del presidente electo será fundamental. EL ESCENARIO EN 2017 <span>Si los funcionarios de la Fed elevan la tasa de referencia, la próxima alza sería en junio, según una probabilidad promedio de 35 por ciento asignada por participantes en la encuesta. Atribuyeron una probabilidad de 25 por ciento de que la próxima alza ocurra en marzo, y una probabilidad de 12 por ciento de que la Fed esperará hasta noviembre. Cuando la Fed subió las tasas de interés hace un año, uso la palabra “gradual” dos veces para describir su previsión de estrategia, y dijo que la tasa de fondos federales pro




Article 1428141247756

Ya hay gabinete de Trump para México
#14-dic-2016 #el-financiero #noticias

Con la designación de su secretario de Estado, Trump prácticamente concluye el proceso de integración de su gabinete presidencial. Faltarían un par de designaciones, ambas inminentes: la del número dos en materia internacional, en principio el exembajador ante la ONU John Bolton, y el Representante Especial para Negociaciones Comerciales (USTR) Dan DiMicco, el exempresario acerero. Con estos dos nombramientos quedaría ya integrado el equipo encargado de todos los temas en la agenda de Washington con nuestro país. El panorama se antoja desolador, pero es el que es. Ya no hay muchos motivos de especulación, aunque quienes sigan prefiriendo postergar decisiones y medidas de México frente, ante y contra Trump, encontrarán excusas para perseverar en la pasividad y la espera indefinida. Algunos nos recodarán sabiamente que los miembros del gobierno aún no han sido designados, que el Senado puede rechazarlos, o que algún milagro intervendrá para evitar que hagan lo que han dicho que harán. Cada quien… El probl



#14-dic-2016 #el-financiero #noticias
Con la designación de su secretario de Estado, Trump prácticamente concluye el proceso de integración de su gabinete presidencial. Faltarían un par de designaciones, ambas inminentes: la del número dos en materia internacional, en principio el exembajador ante la ONU John Bolton, y el Representante Especial para Negociaciones Comerciales (USTR) Dan DiMicco, el exempresario acerero. Con estos dos nombramientos quedaría ya integrado el equipo encargado de todos los temas en la agenda de Washington con nuestro país.

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Ya hay gabinete de Trump para México
Con la designación de su secretario de Estado, Trump prácticamente concluye el proceso de integración de su gabinete presidencial. Faltarían un par de designaciones, ambas inminentes: la del número dos en materia internacional, en principio el exembajador ante la ONU John Bolton, y el Representante Especial para Negociaciones Comerciales (USTR) Dan DiMicco, el exempresario acerero. Con estos dos nombramientos quedaría ya integrado el equipo encargado de todos los temas en la agenda de Washington con nuestro país. El panorama se antoja desolador, pero es el que es. Ya no hay muchos motivos de especulación, aunque quienes sigan prefiriendo postergar decisiones y medidas de México frente




Flashcard 1428154879244

Tags
#cfa #cfa-level-1 #demand-function-and-demand-curve #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
solving for Px in terms of Qx. This operation is called [...]
Answer
“inverting the demand function,”


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x+0.06(50)−0.01(20)=11.2−0.4Px Notice that income and the price of automobiles are not ignored; they are simply held constant, and they are “collected” in the new constant term, 11.2. Notice also that we can rearrange Equation 3, <span>solving for P x in terms of Q x . This operation is called “inverting the demand function,” and gives us Equation 4. (You should be able to perform this algebraic exercise to verify the result.) Equation (4)  P x = 28 – 2.5Q x   Equatio

Original toplevel document

3.1. The Demand Function and the Demand Curve
Then we would hold constant the values of income and the price of good Y. In our example, those values are 50 and 20, respectively. So, by inserting the respective values, we would rewrite Equation 2 as Equation (3)  <span>Qdx=8.4−0.4Px+0.06(50)−0.01(20)=11.2−0.4Px Notice that income and the price of automobiles are not ignored; they are simply held constant, and they are “collected” in the new constant term, 11.2. Notice also that we can rearrange Equation 3, solving for P x in terms of Q x . This operation is called “inverting the demand function,” and gives us Equation 4. (You should be able to perform this algebraic exercise to verify the result.) Equation (4)  P x = 28 – 2.5Q x   Equation 4, which gives the per-gallon price of gasoline as a function of gasoline consumed per week, is referred to as the inverse demand function . We need to restrict Q x in Equation 4 to be less than or equal to 11.2 so price is not negative. Henceforward we assume that the reader can work out similar needed qualifications to the valid application of equations. The graph of the inverse demand function is called the demand curve , and is shown in Exhibit 1.1 Exhibit 1. Household Demand Curve for Gasoline This demand curve is drawn with price on the vertical axis and quantity on the horizontal







Flashcard 1428157762828

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
At its simplest level, production of a good consists of transforming [...]
Answer
inputs, or factors of production


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At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because

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3.3. The Supply Function and the Supply Curve
between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. <span>At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For si







Flashcard 1428160122124

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
At its simplest level, production of a good consists of transforming [...].

Answer
inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services


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At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production de

Original toplevel document

3.3. The Supply Function and the Supply Curve
between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. <span>At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For si







Flashcard 1428162481420

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Economists refer to the “rules” that govern transformation of factors of production (input) as [...] .


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simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as <span>the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors.<span><body><html>

Original toplevel document

3.3. The Supply Function and the Supply Curve
between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. <span>At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For si







Flashcard 1428164840716

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Because producers have to purchase [...] the cost of production depends on both the technology and the price of those factors.
Answer
inputs in factor markets,


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rming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to <span>purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors.<span><body><html>

Original toplevel document

3.3. The Supply Function and the Supply Curve
between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. <span>At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For si







Flashcard 1428167200012

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
The most important variables for demand is [...].
Answer
the item’s own price


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We first analyze demand. The quantity consumers are willing to buy clearly depends on a number of different factors called variables. Perhaps the most important of those variables is the item’s own price.

Original toplevel document

3.1. The Demand Function and the Demand Curve
We first analyze demand. The quantity consumers are willing to buy clearly depends on a number of different factors called variables. Perhaps the most important of those variables is the item’s own price. In general, economists believe that as the price of a good rises, buyers will choose to buy less of it, and as its price falls, they buy more. This is such a ubiquitous observation that







Flashcard 1428168772876

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Besides a good’s own price, other variables also have influence on purchase decision, such as [...], [...], the prices of other goods that serve as substitutes or complements, and so on.
Answer
consumers’ incomes, their tastes and preferences


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Although a good’s own price is important in determining consumers’ willingness to purchase it, other variables also have influence on that decision, such as consumers’ incomes, their tastes and preferences, the prices of other goods that serve as substitutes or complements, and so on. Economists attempt to capture all of these influences in a relationship called the demand function .</spa

Original toplevel document

3.1. The Demand Function and the Demand Curve
yers will choose to buy less of it, and as its price falls, they buy more. This is such a ubiquitous observation that it has come to be called the law of demand , although we shall see that it need not hold in all circumstances. <span>Although a good’s own price is important in determining consumers’ willingness to purchase it, other variables also have influence on that decision, such as consumers’ incomes, their tastes and preferences, the prices of other goods that serve as substitutes or complements, and so on. Economists attempt to capture all of these influences in a relationship called the demand function . (In general, a function is a relationship that assigns a unique value to a dependent variable for any given set of values of a group of independent variables.) We represent such a deman







Flashcard 1428170607884

Tags
#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Inverse demand function is a restatement of the demand function in which
[...]
Answer
price is stated as a function of quantity.


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Inverse demand function is a restatement of the demand function in which price is stated as a function of quantity.







Flashcard 1428172180748

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
the only thing that can cause a movement along the demand curve is a change in [...]
Answer
a good’s own-price


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the only thing that can cause a movement along the demand curve is a change in a good’s own-price

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rcepts have both increased, resulting in an outward shift in the demand curve, as shown in Exhibit 2. Exhibit 2. Household Demand Curve for Gasoline before and after Change in Income In general, <span>the only thing that can cause a movement along the demand curve is a change in a good’s own-price. A change in the value of any other variable will shift the entire demand curve. The former is referred to as a change in quantity demanded, and the latter is referred to as a change in







#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

In general, the only thing that can cause a movement along the demand curve is a change in a good’s own-price. A change in the value of any other variable will shift the entire demand curve. The former is referred to as a change in quantity demanded, and the latter is referred to as a change in demand.

More importantly, the shift in demand was both a vertical shift upward and a horizontal shift to the right. That is to say, for any given quantity, the household is now willing to pay a higher price; and at any given price, the household is now willing to buy a greater quantity. Both interpretations of the shift in demand are valid.

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but the intercepts have both increased, resulting in an outward shift in the demand curve, as shown in Exhibit 2. Exhibit 2. Household Demand Curve for Gasoline before and after Change in Income <span>In general, the only thing that can cause a movement along the demand curve is a change in a good’s own-price. A change in the value of any other variable will shift the entire demand curve. The former is referred to as a change in quantity demanded, and the latter is referred to as a change in demand. More importantly, the shift in demand was both a vertical shift upward and a horizontal shift to the right. That is to say, for any given quantity, the household is now willing to pay a higher price; and at any given price, the household is now willing to buy a greater quantity. Both interpretations of the shift in demand are valid. EXAMPLE 2 Representing Consumer Buying Behavior with a Demand Function and Demand Curve An individual consumer’s monthly demand for dow




Flashcard 1428176112908

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
the supply function , depends on [...] as well as [...] . The greater the difference between those two values, the greater is the willingness of producers to supply the good.
Answer
the price at which the good can be sold

the cost of production for an additional unit of the good


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the supply function , depends on the price at which the good can be sold as well as the cost of production for an additional unit of the good. The greater the difference between those two values, the greater is the willingness of producers to supply the good

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3.3. The Supply Function and the Supply Curve
ervice is called supply. In general, producers are willing to sell their product for a price as long as that price is at least as high as the cost to produce an additional unit of the product. It follows that the willingness to supply, called <span>the supply function , depends on the price at which the good can be sold as well as the cost of production for an additional unit of the good. The greater the difference between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. At its simplest level, productio







Flashcard 1428178472204

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on [...].
Answer
the prices (i.e., costs) of the inputs necessary to produce it


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Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For simplicity, we can assume that the only input in a production process is labor that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hen

Original toplevel document

3.3. The Supply Function and the Supply Curve
nomists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. <span>Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For simplicity, we can assume that the only input in a production process is labor that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hence, we can say that (for any given level of technology) the willingness to supply a good depends on the price of that good and the wage rate. This concept is captured in the following equation, which represents an individual seller’s supply function: Equation (7)  Qsx=f(Px,W,…) where Qsx







#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
For simplicity, we can assume that the only input in a production process is labor that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hence, we can say that (for any given level of technology) the willingness to supply a good depends on the price of that good and the wage rate.

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Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For simplicity, we can assume that the only input in a production process is labor that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hence, we can say that (for any given level of technology) the willingness to supply a good depends on the price of that good and the wage rate.

Original toplevel document

3.3. The Supply Function and the Supply Curve
nomists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. <span>Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For simplicity, we can assume that the only input in a production process is labor that must be purchased in the labor market. The price of an hour of labor is the wage rate, or W. Hence, we can say that (for any given level of technology) the willingness to supply a good depends on the price of that good and the wage rate. This concept is captured in the following equation, which represents an individual seller’s supply function: Equation (7)  Qsx=f(Px,W,…) where Qsx




Flashcard 1428184501516

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
A rise in price typically results in a greater quantity supplied, and viceversa. Hence, the supply curve has a positive slope, in contrast to the negative slope of a demand curve. This positive relationship is often referred to as [...]
Answer


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ults in a greater quantity supplied, and a lower price results in a lower quantity supplied. Hence, the supply curve has a positive slope, in contrast to the negative slope of a demand curve. This positive relationship is often referred to as <span>the law of supply .<span><body><html>

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3.3. The Supply Function and the Supply Curve
ek. The increase in price has enticed the seller to supply a greater quantity of gasoline per week than at the lower price. 3.4. Changes in Supply vs. Movements along the Supply Curve As we saw earlier, <span>a change in the (own) price of a product causes a change in the quantity of that good willingly supplied. A rise in price typically results in a greater quantity supplied, and a lower price results in a lower quantity supplied. Hence, the supply curve has a positive slope, in contrast to the negative slope of a demand curve. This positive relationship is often referred to as the law of supply . What happens when a variable other than own-price takes on different values? We could answer this question in our example by assuming a different value for wage rate, say,







Flashcard 1428186074380

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Algebraically, we can find equilibrium price by [...]
Answer
setting the demand function equal to the supply function and solving for price.


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Algebraically, we can find equilibrium price by setting the demand function equal to the supply function and solving for price. Recall that in our hypothetical example of a local gasoline market, the demand function was given by Qdx=f(Px,I,Py) , and the supply function was given by Qsx=f(Px,W)</bod

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3.6. Market Equilibrium
ept, as indicated by the shaded arrows. But for all quantities above Q∗x , the lowest price willingly accepted by sellers is greater than the highest price willingly offered by buyers. Clearly, trades will not be made beyond Q∗x. <span>Algebraically, we can find equilibrium price by setting the demand function equal to the supply function and solving for price. Recall that in our hypothetical example of a local gasoline market, the demand function was given by Qdx=f(Px,I,Py) , and the supply function was given by Qsx=f(Px,W) . Those expressions are called behavioral equations because they model the behavior of, respectively, buyers and sellers. Variables other than own price and quantity are determined ou







Flashcard 1428189482252

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#cfa #cfa-level-1 #economics #market-equilibrium #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Variables other than own price and quantity are determined outside of the demand and supply model of a particular market. Because of that, they are called [...] .


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Variables other than own price and quantity are determined outside of the demand and supply model of this particular market. Because of that, they are called exogenous variables . Price and quantity, however, are determined within the model for this particular market and are called endogenous variables

Original toplevel document

3.6. Market Equilibrium
al gasoline market, the demand function was given by Qdx=f(Px,I,Py) , and the supply function was given by Qsx=f(Px,W) . Those expressions are called behavioral equations because they model the behavior of, respectively, buyers and sellers. <span>Variables other than own price and quantity are determined outside of the demand and supply model of this particular market. Because of that, they are called exogenous variables . Price and quantity, however, are determined within the model for this particular market and are called endogenous variables . In our simple example, there are three exogenous variables (I, P y , and W) and three endogenous variables: P x , Qdx , and Qsx . Hence, we have a system of two equations and three un







Flashcard 1428192890124

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #the-market-mechanism-iterating-toward-equilibrium
Question
Observation suggests that most markets are characterized by [...].
Answer
stable equilibria


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Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears t

Original toplevel document

3.7. The Market Mechanism: Iterating toward Equilibrium—or Not
price there would be excess demand, thus driving price even higher. At a price below that equilibrium there would be excess supply, thus driving price even lower toward the lower-priced equilibrium, which is a stable equilibrium. <span>Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears that prices can behave in ways that are not ultimately sustainable in the long run. They may shoot up for a time but ultimately, if they do not reflect actual valuations, the bubble can burst resulting in a “correction” to a new equilibrium. As a simple approach to understanding bubbles, consider a case in which buyers and sellers base their expectations of future prices on the rate of change of current prices:







#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #the-market-mechanism-iterating-toward-equilibrium
Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero.

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Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears that prices can behave in ways that are not ultimately sustainable

Original toplevel document

3.7. The Market Mechanism: Iterating toward Equilibrium—or Not
price there would be excess demand, thus driving price even higher. At a price below that equilibrium there would be excess supply, thus driving price even lower toward the lower-priced equilibrium, which is a stable equilibrium. <span>Observation suggests that most markets are characterized by stable equilibria. Prices do not often shoot off to infinity or plunge toward zero. However, occasionally we do observe price bubbles occurring in real estate, securities, and other markets. It appears that prices can behave in ways that are not ultimately sustainable in the long run. They may shoot up for a time but ultimately, if they do not reflect actual valuations, the bubble can burst resulting in a “correction” to a new equilibrium. As a simple approach to understanding bubbles, consider a case in which buyers and sellers base their expectations of future prices on the rate of change of current prices:




Flashcard 1428197084428

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Sometimes markets really do use [...] to arrive at equilibrium price.
Answer
auctions


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Sometimes markets really do use auctions to arrive at equilibrium price. Auctions can be categorized into two types depending on whether the value of the item being sold is the same for each bidder or is unique to each bidder.

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3.8. Auctions as a Way to Find Equilibrium Price
Sometimes markets really do use auctions to arrive at equilibrium price. Auctions can be categorized into two types depending on whether the value of the item being sold is the same for each bidder or is unique to each bidder. The first case is called a common value auction in which there is some actual common value that will ultimately be revealed after the auction is settled. Prior to the auction’s settle







Flashcard 1428199443724

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Auctions can be categorized into two types depending on wether the value of the item being sold if for each bidder [...] or [...]
Answer
the same or unique to each bidder.


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Sometimes markets really do use auctions to arrive at equilibrium price. Auctions can be categorized into two types depending on whether the value of the item being sold is the same for each bidder or is unique to each bidder.

Original toplevel document

3.8. Auctions as a Way to Find Equilibrium Price
Sometimes markets really do use auctions to arrive at equilibrium price. Auctions can be categorized into two types depending on whether the value of the item being sold is the same for each bidder or is unique to each bidder. The first case is called a common value auction in which there is some actual common value that will ultimately be revealed after the auction is settled. Prior to the auction’s settle







Flashcard 1428201803020

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
The basic model of markets is [...]
Answer
the demand and supply model.


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The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior an

Original toplevel document

SUMMARY
ay’s global economy, an understanding of the demand and supply model is essential for any analyst who hopes to grasp the implications of economic developments on investment values. Among the points made are the following: <span>The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the i







Flashcard 1428204162316

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as [...].
Answer
a negatively sloped demand curve


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The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market

Original toplevel document

SUMMARY
ay’s global economy, an understanding of the demand and supply model is essential for any analyst who hopes to grasp the implications of economic developments on investment values. Among the points made are the following: <span>The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the i







Flashcard 1428206521612

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as [...]
Answer
a positively sloped supply curve.


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model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as <span>a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly

Original toplevel document

SUMMARY
ay’s global economy, an understanding of the demand and supply model is essential for any analyst who hopes to grasp the implications of economic developments on investment values. Among the points made are the following: <span>The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the i







Flashcard 1428208880908

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
The interaction of buyers and sellers in a market results in [...].
Answer
equilibrium


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and form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in <span>equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers.<span><body><html>

Original toplevel document

SUMMARY
ay’s global economy, an understanding of the demand and supply model is essential for any analyst who hopes to grasp the implications of economic developments on investment values. Among the points made are the following: <span>The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the i







Flashcard 1428211240204

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers.
Answer
Equilibrium


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a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. <span>Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers.<span><body><html>

Original toplevel document

SUMMARY
ay’s global economy, an understanding of the demand and supply model is essential for any analyst who hopes to grasp the implications of economic developments on investment values. Among the points made are the following: <span>The basic model of markets is the demand and supply model. The demand function represents buyers’ behavior and can be depicted (in its inverse demand form) as a negatively sloped demand curve. The supply function represents sellers’ behavior and can be depicted (in its inverse supply form) as a positively sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the i







Flashcard 1428213599500

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question

[...] are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households.

Answer
Goods markets


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Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers

Original toplevel document

SUMMARY
sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. <span>Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “hol







Flashcard 1428215958796

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question

[...] are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability.

Answer
Factor markets


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Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equ

Original toplevel document

SUMMARY
sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. <span>Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “hol







Flashcard 1428218318092

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question

[...] are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services.

Answer
Capital markets


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s buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. <span>Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. <span><body><html>

Original toplevel document

SUMMARY
sloped supply curve. The interaction of buyers and sellers in a market results in equilibrium. Equilibrium exists when the highest price willingly paid by buyers is just equal to the lowest price willingly accepted by sellers. <span>Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “hol







Flashcard 1428220677388

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Demand and supply curves are drawn on the assumption that everything except the price of the good itself is [...].
Answer
held constant (an assumption known as ceteris paribus or “holding all other things constant”)


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Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as oppo

Original toplevel document

SUMMARY
s and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. <span>Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve. If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceed







#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before.

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Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve.

Original toplevel document

SUMMARY
s and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. <span>Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve. If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceed




Flashcard 1428226968844

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve.
Answer
The market mechanism


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ative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. <span>The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve.<span><body><html>

Original toplevel document

SUMMARY
s and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. <span>Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve. If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceed







Flashcard 1428230114572

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
When something other than price changes, the demand curve or the supply curve will [...]. This is referred to as [...] , as opposed to [...]
Answer
shift relative to the other curve

a change in demand or supply

quantity demanded


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When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a

Original toplevel document

SUMMARY
s and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital markets are used by firms to sell debt or equity to raise long-term capital to finance the production of goods and services. <span>Demand and supply curves are drawn on the assumption that everything except the price of the good itself is held constant (an assumption known as ceteris paribus or “holding all other things constant”). When something other than price changes, the demand curve or the supply curve will shift relative to the other curve. This shift is referred to as a change in demand or supply, as opposed to quantity demanded or quantity supplied. A new equilibrium generally will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve. If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceed







Flashcard 1428232473868

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Sometimes [...] are used to seek equilibrium prices.
Answer
auctions


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Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed.

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428234833164

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed.
Answer
Common value


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Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true va

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428237192460

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as [...].
Answer
the winner’s curse


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hat have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as <span>the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until t

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428239551756

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] auctions sell items that (generally) have a unique subjective value for each bidder.
Answer
Private value


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lue to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. <span>Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highes

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428241911052

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item.
Answer
Ascending price


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y optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. <span>Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions be

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428244270348

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...], or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price.
Answer
Descending price


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ions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. <span>Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428246629644

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
[...] auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions.
Answer
Second price sealed bid


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increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. <span>Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a for

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428248988940

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Treasury notes and some other financial instruments are sold using a form of [...] in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order.
Answer
Dutch auction (called a single price auction)


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illing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of <span>Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be abl

Original toplevel document

SUMMARY
ven price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. <span>Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that value before the auction is completed. Overly optimistic bidders overestimate the true value and end up paying a price greater than that value. This result is known as the winner’s curse. Private value auctions sell items that (generally) have a unique subjective value for each bidder. Ascending price auctions use an auctioneer to call out ever increasing prices until the last, highest bidder ultimately pays his/her bid price and buys the item. Descending price, or Dutch, auctions begin at a very high price and then reduce that price until one bidder is willing to buy at that price. Second price sealed bid auctions are sometimes used to induce bidders to reveal their true reservation prices in private value auctions. Treasury notes and some other financial instruments are sold using a form of Dutch auction (called a single price auction) in which competitive and non-competitive bids are arrayed in descending price (increasing yield) order. The winning bidders all pay the same price, but marginal bidders might not be able to fill their entire order at the market clearing price. Markets that work freely can optimize society’s welfare, as measured by consumer surplus and producer surplus. Consumer surplus is the difference between the total value







Flashcard 1428251610380

Tags
#introducción-al-derecho
Question
[...] es la obligación que toda persona tiene que cumplir para realizar un mandato, dicho en otras palabras, es el hacer o no hacer una determinada conducta, de lo contrario se aplicará una sanción.
Answer
El deber


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El deber es la obligación que toda persona tiene que cumplir para realizar un mandato, dicho en otras palabras, es el hacer o no hacer una determinada conducta, de lo contrario se aplicará una s

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Flashcard 1428253183244

Question
La distinción clara del deber y derecho, es que el primero es una forma de [...] y el Derecho es la exigencia
Answer
conducta


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La distinción clara del deber y derecho, es que el primero es una forma de conducta y el Derecho es la exigencia; un ejemplo claro sería el deber que tengo de pagar un impuesto y mi derecho es el que con el pago de mi impuesto el Estado me proporcione de servicios pú

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Flashcard 1428256853260

Tags
#algebra-baldor
Question
Una misma letra puede representar distintos valores [...]
Answer
diferenciándolos por medio de comillas; por ejemplo: a a " , a'", que se leen a prima, a se gunda, a tercera,


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Una misma letra puede representar distintos valores diferenciándolos por medio de comillas; por ejemplo: a a " , a'", que se leen a prima, a se gunda, a tercera, o también por medio de subíndices; por ejemplo: alt a2, (h, que se leen a subuno, a subdos, a subtres.

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Flashcard 1428259474700

Tags
#algebra-baldor
Question
Los signos empleados en Algebra son de tres clases: [...], Signos de Relación y Signos de Agrupación.
Answer
Signos de Ope ración


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Los signos empleados en Algebra son de tres clases: Signos de Ope ración, Signos de Relación y Signos de Agrupación.

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Flashcard 1428261309708

Tags
#algebra-baldor
Question
Fórmula algebraica es la representación, por medio de letras, de [...]
Answer
una regla o de un principio general.


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Fórmula algebraica es la representación, por medio de letras, de una regla o de un principio general.

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Flashcard 1428263144716

Tags
#algebra-baldor
Question
En Algebra se verifican con las cantidades las mismas operaciones que en Aritmética: [...]
Answer
Suma, Resta, Multiplicación, División, Elevación a Potencias y Extracción de Raíces


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En Algebra se verifican con las cantidades las mismas operaciones que en Aritmética: Suma, Resta, Multiplicación, División, Elevación a Poten cias y Extracción de Raíces, que se indican con los signos siguientes: El Signo de la Suma es +, que se lee más. Así a + b se lee “a más b”.

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Flashcard 1428265504012

Tags
#algebra-baldor
Question
un ei producto de dos factores, cualquiera de los factores es llamado [...] del otro factor.
Answer
coeficiente


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un ei producto de dos factores, cualquiera de los factores es llamado coeficiente del otro factor. Así, en el producto 3a el factor 3 es coeficiente del factor a e indica que el factor a se toma como sumando tres veces, o sea 3a = a + a + a; en el producto 5b, el fac

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Flashcard 1428268125452

Tags
#algebra-baldor
Question
Los signos de agrupación son: el paréntesis ordinario ( ) el parénte sis angular o corchete [ ], [...] y la barra o vínculo.

Estos signos indican que la operación colocada entre ellos debe efectuarse primero.
Answer
las llaves { }


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Los signos de agrupación son: el paréntesis ordinario ( ) el parénte sis angular o corchete [ ], las llaves { } y la barra o vínculo. Estos signos indican que la operación colocada entre ellos debe efectuarse primero. Así, (a + b)c indica que el resultado de la suma de a y b debe multi

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Flashcard 1428269960460

Tags
#algebra-baldor
Question
El camino recorrido a la derecha o hacia arriba de un punto se desig na con el signo [...] y el camino recorrido a la izquierda o hacia abajo de un punto se representa con el signo [...] .
Answer
+


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El camino recorrido a la derecha o hacia arriba de un punto se desig na con el signo + y el camino recorrido a la izquierda o hacia abajo de un punto se representa con el signo —.

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Flashcard 1428272581900

Tags
#algebra-baldor
Question
De dos cantidades positivas, es mayor la de mayor [...]
Answer
valor absoluto


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De dos cantidades positivas, es mayor la de mayor valor absoluto; así, + 5 es mayor que -1-3, mientras que de dos cantidades negativas es mayor la de menor valor absoluto: —3 es mayor que —5; —9 es menor que —4</sp

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Flashcard 1428377439500

Tags
#algebra-baldor
Question
Valor absoluto de una cantidad es [...]
Answer
el número que representa la can tidad prescindiendo del signo o sentido de la cantidad


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Valor absoluto de una cantidad es el número que representa la can tidad prescindiendo del signo o sentido de la cantidad, y valor relativo es el sentido de la cantidad, representado por el signo. Así, el valor absoluto de + $8 es $8, y el valor relativo haber, expre sado por e

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Flashcard 1428483083532

Tags
#algebra-baldor
Question
El concepto de la cantidad en Algebra es m ucho más amplio que [...]
Answer
en A ritm ética.


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El concepto de la cantidad en Algebra es m ucho más amplio que en A ritm ética.

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Flashcard 1428510084364

Tags
#algebra-baldor
Question
Las cantidades conocidas se expresan por [...]
Answer
las primeras letras del alfa beto: a, b, c, d


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Las cantidades conocidas se expresan por las primeras letras del alfa beto: a, b, c, d

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Flashcard 1428582960396

Tags
#algebra-baldor
Question
Entre factores literales o entre un factor numérico y uno literal el [...] suele omitirse.
Answer
signo de multiplicación


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Entre factores literales o entre un factor num érico y uno literal el signo de multiplicación suele omitirse. Así abe equivale a a x b x c ; 5xy equivale a 5 XxXy

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Flashcard 1428645612812

Tags
#blue-apron #citychef
Question
The company works with [...] to create delivery boxes of perfectly portioned dinners that [...]
Answer
local farmers

minimize food waste


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The company works with local farmers to create delivery boxes of perfectly portioned dinners that minimize food waste and allow users to try new ingredients and recipes, at an affordable price of $10 per meal per person.</

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
olving a prescient problem facing many Americans today: they love to cook but feel they don’t have the time. Blue Apron “delivers farm fresh ingredients and original recipes so [people] can create an incredible meal any night of the week 2 .” <span>The company works with local farmers to create delivery boxes of perfectly portioned dinners that minimize food waste and allow users to try new ingredients and recipes, at an affordable price of $10 per meal per person. Blue Apron curates meal kits, boxes of ingredients and instructions for cooking exactly three dinners a week. They are sold on a subscription basis for two or four people. As of Decem







#trivium
In true liberal education…the essential activity of the student is to relate the facts learned into a unified, organic whole, to assimilate them as…the rose assimilates food from the soil and increases in size, vitality, and beauty

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#trivium
What is language? How does it work? What makes good language? Coleridge defined prose as “words in their best order” and poetry as “the best words in the best order.”

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#trivium
Sister Miriam Joseph acknowledges her debt to Aristotle, John Milton, and Jacques Maritain.

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#trivium
language evolves from the very nat ure of being human. Because we are rational, we think; because we are social, we interact with other people; because we are corporeal, we use a physical medium

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#trivium
Aristotle’s theories of language and literature underlie this work.

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#sister-miriam-joseph #trivium
Words are categorized by their relationship to being and to each other.

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#sister-miriam-joseph #trivium
When a speaker or writ er uses a word, thus assigning it a particular meaning, it becomes a term and enters the realm of logic.

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#sister-miriam-joseph #trivium
Aristotle’s categories enable us to translate the linguistic symbol into a logical entity ready to take its place in a proposition. From propositions, the reader moves to syllogisms, ent hymemes, sorites, formal fallacies, and material fallacies

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#sister-miriam-joseph #trivium
The Trivium explains t hat logic is the art of deduction. As thinking beings, we know something and from that knowledge can deduce new knowledge.

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#sister-miriam-joseph #trivium
Where does the initial knowledge come from? The section on [...] answers that question.

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#sister-miriam-joseph #trivium
Sister Miriam Joseph, who was also a Shakespearean scholar, actually wrote about Shakespeare as a master of the trivium.

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#sister-miriam-joseph #trivium
Rhetoric concerns the choices a speaker or writer makes from the options grammar and logic offer

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#sister-miriam-joseph #trivium
Sister Miriam Joseph reviews the history of rhet oric and presents Aristotle’s perspective on the means of persuasion

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#sister-miriam-joseph #trivium
She includes poetics—communication through the narrative created by the author—in addition to rhet oric or direct communication. Here, the reader will find Aristotle’s six elements of poetics.

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#sister-miriam-joseph #trivium
In the service of rhetoric and poet ics, Sister Miriam Joseph explains figurative language according to the classical topics of invention from which they are derived, poetry and versificat ion, and the essay. The chapt er ends with a brief guide to composition.

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#sister-miriam-joseph #trivium
studying the liberal arts is an intransitive activity; the effect of studying these arts stays within the individual and perfects the faculties of the mind and spirit.

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#sister-miriam-joseph #trivium
The concept is classical, but the term liberal arts and the division of the arts into the trivium and the quadrivium date from the Middle Ages

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#sister-miriam-joseph #trivium
The trivium includes those aspects of t he liberal arts that pertain to mind

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#sister-miriam-joseph #trivium
the quadrivium, those aspects of the liberal arts that pertain to matter.

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#sister-miriam-joseph #trivium
arithmetic, music, geometry, and astronomy constitute the quadrivium

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#sister-miriam-joseph #trivium
Logic, grammar, and rhetoric constitute the trivium

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#sister-miriam-joseph #trivium
Logic is the art of thinking; grammar, the art of inventing symbols and combining them to express thought; and rhetoric, the art of communicating thought from one mind to anot her, the adaptation of language to circumstance

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#sister-miriam-joseph #trivium
Arithmetic, t he theory of number, and music, an application of the theory of number (the measurement of discrete quantities in motion), are the arts of discrete quantity or number.

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#sister-miriam-joseph #trivium
Geometry, the theory of space, and astronomy, an application of the theory of space, are the arts of continuous quantity or extension.

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#sister-miriam-joseph #trivium
These arts of reading, writing, and reckoning have formed the traditional basis of liberal education, each constituting both a field of knowledge and the technique t o acquire that knowledge.

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#sister-miriam-joseph #trivium
The degree bachelor of arts is awarded to those who demonstrate the requisite proficiency in these arts, and the degree master of arts, to those who have demonstrat ed a greater proficiency

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#sister-miriam-joseph #trivium
Those who first perfect their own faculties through liberal education are thereby better prepared to serve others in a professional or other capacity.

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#sister-miriam-joseph #trivium
The seven liberal arts differ essentially from the many utilitarian arts (such as carpentry, masonry, plumbing, salesmanship, printing, editing, banking, law, medicine, or the care of souls) and from the seven fine arts (architecture, instrumental music, sculpture, painting, literature, t he drama, and the dance), for both the utilitarian arts and the fine arts are transitive activities, whereas the essential characteristic of the liberal arts is that they are immanent or intransitive activities

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#sister-miriam-joseph #trivium
The utilitarian artist produces utilities that serve the wants of humanity; the fine artist, if he is of the highest order, produces a work that is “a thing of beauty and a joy forever” and that has the power to elevate the human spirit.

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#sister-miriam-joseph #trivium
In the exercise of both the utilitarian and the fine arts, although the action begins in the agent, it goes out from the agent and ends in the object produced and usually has a commercial value; and therefore the artist is paid for the work.

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#sister-miriam-joseph #trivium
In the exercise of the liberal arts, however, the action begins in the agent and ends in the agent, who is perfected by the action; consequently, the liberal artist, far from being paid for his hard work, of which he receives the sole and full benefit, usually pays a teacher to give needed instruction and guidance in the practice of the liberal arts.

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#sister-miriam-joseph #trivium
The action of a transitive verb (like planes) begins in the agent but “goes across” and ends in the object (the wood). The action of an intransit ive verb (like blooms) begins in the agent and ends in the agent (the rose, which is perfected by blooming).

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#sister-miriam-joseph #trivium
The three classes of goods—valuable, useful, and pleasurable—illustrate the same type of distinction that exists among the arts.

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#sister-miriam-joseph #trivium
Valuable goods are those which are not only desired for their own sake but which increase the intrinsic worth of their possessor. For instance, knowledge, virtue, and health are valuable goods.

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#sister-miriam-joseph #trivium
Useful goods are those which are desired because they enable one to acquire valuable goods. For instance, food, medicine, money, tools, and books are useful goods.

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#sister-miriam-joseph #trivium
Pleasurable goods are those which are desired for their own sake because of the satisfaction they give their possessor. For instance, happiness, an honorable reputation, social prestige, flowers, and savory food are pleasurable goods.

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#sister-miriam-joseph #trivium
Pleasurable goods are those which are desired for their own sake because of the satisfaction they give their possessor. For instance, happiness, an honorable reputation, social prestige, flowers, and savory food are pleasurable goods. They do not add to the intrinsic worth of their possessor, nor are they desired as means, yet they may be associated with valuable goods or useful goods. For instance, knowledge, which increases worth, may at the same time be pleasurable; ice cream, which is nourishing food, promotes health, and is, at the same time, enjoyable.

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#sister-miriam-joseph #trivium
The utilitarian or servile arts enable one to be a servant—of another person, of the state, of a corporation, or of a business—and to earn a living.

The liberal arts, in contrast, teach one how to live; they train the faculties and bring them to perfection; they enable a person to rise above his material environment to live an intellectual, a rational, and therefore a free life in gaining t ruth. Jesus Christ said, “You shall know the truth, and the truth shall make you free” (John 8:32). 3 The

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#sister-miriam-joseph #trivium
The new motto of Saint John’s College, Annapolis, Maryland, expresses the purpose of a liberal arts college with an interesting play on the etymology of liberal: “Facio liberos ex liberis libris libraque.” “I make free men of children by means of books and a balance [laboratory experiments].”

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#sister-miriam-joseph #trivium
Each of the liberal arts is both a science and an art in the sense that in the province of each there is something t o know (science) and something to do (art).

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#sister-miriam-joseph #trivium
An art may be used successfully before one has a formal knowledge of its precepts. For example, a child of three may use correct grammar even though the child knows nothing of formal grammar. Similarly, logic and rhetoric may be effectively used by those who do not know the precepts of these arts. It is, however, desirable and satisfying to acquire a clear knowledge of the precepts and to know why certain forms of expression or thought are right and wrong.

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#sister-miriam-joseph #trivium
The trivium is t he organon, or instrument, of all education at all levels because the arts of logic, grammar, and rhetoric are the arts of communicat ion itself in that they govern the means of communication—namely, reading, writing, speaking, and listening. Thinking is inherent in these four activities.

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#sister-miriam-joseph #trivium
The trivium is used vitally when it is exercised in reading and composition.

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#sister-miriam-joseph #trivium
It was systematically and intensively exercised in the reading of the Latin classics and in t he composition of Latin prose and verse by boys in the grammar schools of England and the continent during the sixteenth century. This was the training that formed the int ellectual habits of Shakespeare and other Renaissance writers.

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#sister-miriam-joseph #trivium
In the Greek grammar of Dionysius Thrax (ca.166 B.C .), the oldest extant book on grammar 6 and the basis for grammatical texts for at least thirteen centuries, grammar is defined in so comprehensive a manner that it includes versification, rhetoric, and literary criticism.

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Greek grammar of Dionysius Thrax (ca.166 B.C .
#sister-miriam-joseph #trivium
Grammar is an experiment al knowledge of the usages of languages as generally current among poets and prose writers. It is divided into six parts: (1) trained reading with due regard to prosody [versification]; (2) exposition, according to poetic figures [rhetoric]; (3) ready statement of dialectical peculiarities and allusion; (4) discovery of etymologies; (5) the accurate account of analogies; (6) criticism of poet ical product ions which is the noblest part of grammatical art.

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#sister-miriam-joseph #trivium
The pupil must cooperate with the teacher; he must be active, not passive. The teacher may be present either directly or indirectly. When one studies a book, the author is a teacher indirectly present through the book.

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#sister-miriam-joseph #trivium
Communication, as the etymology of the word signifies, results in something possessed in common; it is a oneness shared.

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#sister-miriam-joseph #trivium
Communication takes place only when two minds really meet. If the reader or listener receives the same ideas and emotions that the writer or speaker wished to convey, he understands (although he may disagree); if he receives no ideas, he does not understand; if different ideas, he misunderstands.

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#sister-miriam-joseph #trivium
Education is the highest of arts in the sense that it imposes forms (ideas and ideals) not on matter, as do other arts (for instance carpent ry or sculpture) but on mind.

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#sister-miriam-joseph #trivium
In true liberal education, as Newman 7 explained, the essential activity of the st udent is to relate the facts learned int o a unified, organic whole, to assimilate them as the body assimilates food or as the rose assimilates food from the soil and increases in size, vitality, and beauty.

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#sister-miriam-joseph #trivium
A learner must use mental hooks and eyes to join the facts together to form a significant whole. This makes learning easier, more interesting, and much more valuable.

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#sister-miriam-joseph #trivium
Even if one forgets many of the fact s once learned and related, the mind retains the vigor and perfection gained by its exercise upon them.

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#sister-miriam-joseph #trivium
Even if one forgets many of the fact s once learned and related, the mind retains the vigor and perfection gained by its exercise upon them. It can do this, however, only by grappling with facts and ideas. Moreover, it is much easier to remember related ideas than unrelated ideas.

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#sister-miriam-joseph #trivium
The trivium, in itself a tool or a skill, has become associated with its most appropriate subject matter—the languages, oratory, literature, history, philosophy.

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#sister-miriam-joseph #trivium
The quadrivium comprises not only mathematics but many branches of science. The theory of number includes not merely arithmetic but also algebra, calculus, the theory of equations, and other branches of higher mathematics. The applications of the theory of number include not only music (here understood as musical principles, like those of harmony, which constitute t he liberal art of music and must be distinguished from applied instrumental music, which is a fine art) but also physics, much of chemistry, and other forms of scientific measurement of discrete quantities. The theory of space includes analytic geometry and trigonometry. Applications of the theory of space include principles of architecture, geography, surveying, and engineering.

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#sister-miriam-joseph #trivium
The three R’s—reading, writing, and reckoning—constitute the core not only of elementary education but also of higher education.

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#sister-miriam-joseph #trivium
Competence in the use of language and competence in handling abstractions, part icularly mathematical quantities, are regarded as the most reliable indexes to a student’s intellectual caliber.

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#sister-miriam-joseph #trivium
The three arts of language provide discipline of mind inasmuch as mind finds expression in language. The four arts of quantity provide means for the study of matter inasmuch as quantity—more precisely, extension—is the outstanding characteristic of matter

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#sister-miriam-joseph #trivium
Extension is a characteristic of matter only, whereas number is a characteristic of both matter and spirit.) The function of the trivium is the training of the mind for the study of matter and spirit, which together constitute the sum of reality.

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#sister-miriam-joseph #trivium
The fruit of education is culture, which Matthew Arnold 8 defined as “the knowledge of ourselves [mind] and the world [matter].”

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The Language Arts and Reality
#sister-miriam-joseph #trivium
The three language arts can be defined as they relate to reality and to each other. Metaphysics or ontology, the science of being, is concerned with reality, with the thing- as-it-exists. Logic, grammar, and rhetoric have the following relation to reality.

Logic is concerned with the thing-as-it-is-known.

Grammar is concerned with the thing-as-it-is-symbolized.

Rhetoric is concerned with the thing-as-it-is-communicated.

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ILLUSTRATION: Relationship between metaphysics and language arts
#sister-miriam-joseph #trivium
The discovery of the planet Pluto in 1930 illustrates the relationship between metaphysics and the language arts. The planet Pluto had been a real entity, traveling in its orbit about our sun, for centuries; its discovery in 1930 did not creat e it. By being discovered, however, it became in 1930 for the first time a logical entity. When it was named Pluto, it became a grammatical entity. When by its name knowledge of it was communicated to others through the spoken word and also through the written word, the planet Pluto became a rhetorical entit y

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#sister-miriam-joseph #trivium
Rhetoric is the master art of the trivium, 12 for it presupposes and makes use of grammar and logic; it is the art of communicating through symbols ideas about reality

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#sister-miriam-joseph #trivium
Phonetics prescribes how to combine sounds so as to form spoken words correctly.

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#sister-miriam-joseph #trivium
Spelling prescribes how to combine letters so as to form written words correctly.

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#sister-miriam-joseph #trivium
Grammar prescribes how to combine words so as to form sentences correctly.

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#sister-miriam-joseph #trivium
Rhetoric prescribes how to combine sentences into paragraphs and paragraphs into a whole composition having unity, coherence, and the desired emphasis, as well as clarity, force, and beauty

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#sister-miriam-joseph #trivium
Logic prescribes how to combine concepts into judgments and judgments into syllogisms and chains of reasoning so as to achieve truth.

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#rhetoric #sister-miriam-joseph #trivium
Rhetoric prescribes that diction be clear and appropriate and that sentences be varied in structure and rhythm

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#rhetoric #sister-miriam-joseph #trivium
Rhetoric recognizes various levels of discourse, such as the literary (maiden or damsel, steed), the common (girl, horse), the illiterate (gal, hoss), the slang (skirt, plug), the technical (homo sapiens, equus caballus), each with its appropriate use.

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#sister-miriam-joseph #trivium
Since rhetoric is the master art of the trivium, it may even enjoin the use of bad grammar or bad logic, as in the portrayal of an illiterate or stupid character in a story.

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#sister-miriam-joseph #trivium
ust as rhetoric is the master art of the trivium, so logic is the art of arts because it directs the very act of reason, which directs all other human acts to their proper end through the means it determines.

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#sister-miriam-joseph #trivium
In the preface to his Art of Logic, the poet Milton remarks: The general matter of the general arts is either reason or speech. They are employed either in perfecting reason for the sake of proper thinking, as in logic, or in perfecting speech, and that either for the sake of the correct use of words, as in grammar, or the effective use of words, as in rhetoric. Of all the arts the first and most general is logic, then grammar, and last of all rhetoric, since there can be much use of reason without speech, but no use of speech without reason. We gave the second place to grammar because correct speech can be unadorned; but it can hardly be adorned before it is correct

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#sister-miriam-joseph #trivium
Because the arts of language are normative, they are practical studies as contrasted with speculative.

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#sister-miriam-joseph #trivium
A speculative st udy is one that merely seeks to know—for example, astronomy. We can merely know about the heavenly bodies. We cannot influence their movement s

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#sister-miriam-joseph #trivium
A practical, normative study is one that seeks to regulate, to bring into conformity with a norm or standard—for example, ethics. The norm of ethics is the good, and its purpose is to bring human conduct into conformity with goodness.

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#sister-miriam-joseph #trivium
Correct ness is the norm of phonetics, spelling, and grammar

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#sister-miriam-joseph #trivium
Effectiveness is the norm of rhetoric.

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#sister-miriam-joseph #trivium
Truth is the norm of logic. Correctness in thinking is the normal means to reach truth, which is the conformity of thought with things as they are—with reality.

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#sister-miriam-joseph #trivium
The intellect itself is perfected in its operations by the five intellectual virtues, three speculative and two practical.

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#sister-miriam-joseph #trivium
Understanding is the intuitive grasp of first principles. (For example, of contradictory statements, one must be true, the other false.)

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#sister-miriam-joseph #trivium
Science is knowledge of proximate causes (physics, mathematics, economics, etc.)

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#sister-miriam-joseph #trivium
Wisdom is knowledge of ultimate causes—metaphysics in the nat ural order, theology in the supernatural order

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#sister-miriam-joseph #trivium
Prudence is right reason about something to be done

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#sister-miriam-joseph #trivium
Art is right reason about something to be made. 14

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#sister-miriam-joseph #the-function-of-language #trivium
The function of language is threefold: to communicate thought, volition, and emotion.

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#sister-miriam-joseph #the-function-of-language #trivium
Man, like other animals, may communicate emotions such as fright, anger, or satisfaction by means of cries or exclamations which in human language are called interjections

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#sister-miriam-joseph #the-function-of-language #trivium
animals use different kinds of cries to express different emotions. Dogs bark in one way when they are angry, and in another when they are pleased.

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#sister-miriam-joseph #the-function-of-language #trivium
Although they may be repeated, animal cries can never be united to form a sentence; they are always mere interjections, and interjections, even in human speech, cannot be assimilated into the structure of a sentence.

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#sister-miriam-joseph #the-function-of-language #trivium
Human beings, however, are not limited, as other animals are, to expressing their feelings by interject ions; they may use sentences.

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#sister-miriam-joseph #the-function-of-language #trivium
Volition (desires) or appetition (appetites) may be expressed by cries or exclamat ions, as when a baby cries or a dog barks for food. Since, however, desires multiply as knowledge increases, humans usually express their desires, choices, and commands in sentences.

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#sister-miriam-joseph #the-function-of-language #trivium
Only humans can utter sounds which unite in a sentence to express thought because humans alone among animals have the power to think. Consequently, they alone have language in the proper sense of the word.

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#sister-miriam-joseph #trivium
humans alone among animals have the power to think. Consequently, they alone have language in the proper sense of the word. 1 This follows from their nature, for they are rational and therefore have something to say, social and therefore have someone to say it to, and animal and therefore require a physical mode of communicating ideas from one mind, which is isolated from all others in the body, to another mind likewise isolated.

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#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium
There are possible only two modes of communicating ideas through a physical or material medium—by imitation or by symbol.

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Imitation
#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium
An imitation is an artificial likeness, for example: a painting, photograph, cartoon, statue, pantomime, a gesture such as threatening with a clenched fist or rejecting by pushing away with the hands, and picture writing. There is no mistaking the meaning of a picture; it means what it resembles. The picture of a horse or a tree cannot represent a man or a dog. Even though imitation is a clear means of communication, it is limited, difficult , slow, and unable to express the essences of things. Imagine picture writing your next letter to a friend. Within limits, however, imitation is a vivid and effective mode of communicat ion.

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Symbol
#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium
A symbol is an arbit rary sensible sign having a meaning imposed on it by convention. A sign is sensible, for it can be perceived by the senses. Every sign has meaning either from nature or from convention. A cloud, which is a sign of rain, and smoke, which is a sign of fire, have meaning from nature. A green light, which is a sign that traffic should move, has meaning from convention.

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SYMBOLS: MEANING FROM NATURE OR CONVENTION
#means-of-communication #sister-miriam-joseph #symbols #the-function-of-language #trivium
By convention or arbitrary agreement, symbols are devised that are either temporary or permanent

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#means-of-communication #sister-miriam-joseph #symbols #the-function-of-language #trivium
Temporary symbols: signals adopted by a football team, the password necessary to get through military lines, school or team colors.

Permanent symbols: traffic lights, flags, a soldier’s salute, a nod of affirmation, heraldry, hieroglyphics, chemical formulas, numbers.

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#means-of-communication #sister-miriam-joseph #symbols #the-function-of-language #trivium
All words are symbols with the exception of a very few imitative or onomatopoeic words, such as boom, buzz, hiss, plop, ticktock

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#sister-miriam-joseph #trivium
We are likely to undervalue our precious herit age of symbols and to underestimate their convenience. Some symbols are less convenient than others for t he same purpose. For example, Roman numerals are less convenient for computation than Arabic numerals.

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#means-of-communication #sister-miriam-joseph #symbols #the-function-of-language #trivium
In a work by Alcuin (735–804),

CCXXXV is multiplied by IV in this manner.

CC IV—DCCC
XXX IV—CXX V
IV—XX

Roman numerals were used in all computations necessary in carrying on the business of the vast Roman Empire.

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SYMBOLS: SPECIAL OR COMMON
#means-of-communication #sister-miriam-joseph #special-or-common #symbols #the-function-of-language #trivium
Special symbols are designed by experts to express with precision ideas in a special field of knowledge, for example: mathematics, chemistry, music. Such special languages are international and do not require translation, for t heir symbols are understood by people of all nationalities in their own language. The multiplication table is a set of symbols understood by a French person in French, by a German in German, etc. The same is true of chemical formulas and equations and of musical notation.

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#means-of-communication #sister-miriam-joseph #special-or-common #symbols #the-function-of-language #trivium
Common symbols or words, such as French, German, Chinese, or Greek words, constitute the common languages. A common language is one invented by the common people to meet all their needs of communication in the course of life. precise and more ambiguous in the sense that one word may have either of two or more meanings. The common languages are not understood internationally but require translation.

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#means-of-communication #sister-miriam-joseph #special-or-common #symbols #the-function-of-language #trivium
Two attempts to provide an international language may be mentioned. Esperanto is an artificial amalgam based on words common to the chief European languages. Basic English is a careful selection of 850 English words, which through paraphrase are designed to do duty for a wider vocabulary

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#means-of-communication #sister-miriam-joseph #special-or-common #symbols #the-function-of-language #trivium
Every dead language, such as Latin, was at one time a living common language. It may be serviceable for special uses, such as liturgy or doctrine, 6 from the very fact that it is a dead language and, therefore, not subject to changes or to a variet y of interpretations as a living language is. A dead language is more likely to be understood in exactly the same way in all t imes and places.

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#means-of-communication #sister-miriam-joseph #special-or-common #symbols #the-function-of-language #trivium
According to the mode of expression, a common language may be a system of either spoken symbols or of other signs.

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#sister-miriam-joseph #trivium
The spoken language is the original and fundament al system of symbols for which all other signs are merely substituted. The written language is the most important substitute and the only one ordinarily understood. Among other substitute signs are Braille, sign language, the semaphore code. Each of these substitutes merely renders into its own system of signs words of a common language.

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Flashcard 1428853493004

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
In a [...] , each buyer places a subjective value on the item, and in general their values differ.


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In the second case, called a private value auction , each buyer places a subjective value on the item, and in general their values differ. An example might be an auction for a unique piece of art that buyers are hoping to purchase for t

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3.8. Auctions as a Way to Find Equilibrium Price
true value. An example of a common value auction would be bidding on a jar containing many coins. Each bidder could estimate the value; but until someone buys the jar and actually counts the coins, no one knows with certainty the true value. <span>In the second case, called a private value auction , each buyer places a subjective value on the item, and in general their values differ. An example might be an auction for a unique piece of art that buyers are hoping to purchase for their own personal enjoyment, not primarily as an investment to be sold later. Auctions also differ according to the mechanism used to arrive at a price and to determine the ultimate buyer. These mechanisms include the ascending price (or English) auc







Flashcard 1428856114444

Tags
#derecho #introduccion-al-derecho
Question
El deber es simplemente el carácter obligatorio de las exigencias [...]
Answer
morales


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En conclusión, el deber es simplemente el carácter obligatorio de las exigencias morales y el deber jurídico es la presión que el Estado impone para el cumplimiento de una norma que tiene carácter sancionador, tan es así que el hombre debe acatar determinados manda

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Flashcard 1428859260172

Tags
#derecho #introduccion-al-derecho
Question
El [...] es la presión que el Estado impone para el cumplimiento de una norma que tiene carácter sancionador, tan es así que el hombre debe acatar determinados mandatos para cumplir los requerimientos normativos, de lo contrario se verá sancionado por el incumplimiento a tal deber.
Answer
deber jurídico


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En conclusión, el deber es simplemente el carácter obligatorio de las exigencias morales y el deber jurídico es la presión que el Estado impone para el cumplimiento de una norma que tiene carácter sancionador, tan es así que el hombre debe acatar determinados mandatos para cumplir los requerim

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Flashcard 1428861881612

Tags
#derecho #introduccion-al-derecho #orden-juridico-de-las-normas
Question

Así queda el orden de las normas jurídicas:

1) Constitución nacional.

2) Leyes o normas generales.

3) [...]

4) Negocios y actos jurídicos (contratos, testamentos).

5) Sentencias judiciales y resoluciones administrativas.

Answer
3) Reglamentos.


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ón y el resto de normas emanadas de ella son jurídicamente obligatorias. Así queda el orden de las normas jurídicas: 1) Constitución nacional. 2) Leyes o normas generales. <span>3) Reglamentos. 4) Negocios y actos jurídicos (contratos, testamentos). 5) Sentencias judiciales y resoluciones administrativas. <span><body></ht

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1.3.5 Orden jurídico de las normas
lamentos que leyes y así sucesivamente. 8 Jurista filosófico y político austriaco de origen judío (1881-1973), profesor de filosofía del Derecho en la Universidad de Viena desde 1917. 20 Ahora bien, <span>la pirámide sirve para reflejar la idea de validez, cada escalón es una especie de eslabón de la cadena de importancia de leyes, dentro del sistema, pero lo que otorga validez al sistema en sí es la norma fundamental. De acuerdo con el ordenamiento jurídico, la Constitución y el resto de normas emanadas de ella son jurídicamente obligatorias. Así queda el orden de las normas jurídicas: 1) Constitución nacional. 2) Leyes o normas generales. 3) Reglamentos. 4) Negocios y actos jurídicos (contratos, testamentos). 5) Sentencias judiciales y resoluciones administrativas. <span><body><html>







Flashcard 1428868173068

Tags
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo
Question

La legislación es el proceso mediante el cual los órganos del Estado, ([...]), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley.

Answer
el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores


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La legislación es el proceso mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley.

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2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
las siguientes: a) La legislación. b) La costumbre. c) Lajurisprudencia. d) La doctrina. e) Los principios generales del derecho. <span>2.1.3.1 La legislación y el proceso legislativo La legislación es el proceso mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy







Flashcard 1428870794508

Tags
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo
Question
Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete a[...], a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados.
Answer
El Presidente de la República


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Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados.

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2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
so mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. <span>En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy







Flashcard 1428873415948

Tags
#derecho #introduccion-al-derecho
Question
Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a [...].
Answer
comisión


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Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates.

Original toplevel document

2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
so mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. <span>En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy







Flashcard 1428875250956

Tags
#derecho #introduccion-al-derecho #legislacion-y-proceso-legislativo
Question

La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama [...].

Answer
Cámara de Origen


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l Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama <span>Cámara de Origen. <span><body><html>

Original toplevel document

2.1 CLASIFICACIÓN DE LAS FUENTES DEL DERECHO
so mediante el cual los órganos del Estado, (el Congreso de la Unión, que se conforma por la Cámara de Diputados y Cámara de Senadores), crean las normas jurídicas generales, abstractas y obligatorias que integrarán la ley. <span>En nuestro sistema mexicano existen seis etapas para la creación de una ley, a saber: iniciativa, discusión, aprobación, sanción, publicación e iniciación de la vigencia. Al hablar del proceso legislativo surge la idea de un procedimiento que ha de seguirse para la creación de las leyes federales o locales, acto que en nuestra Constitución se consigna en los artículos 71 y 72, que a continuación se explican: a) Iniciativa, el derecho de iniciar leyes, conforme al artículo 71 de nuestra Constitución Política de los Estados Unidos Mexicanos, le compete al Presidente de la República, a los Diputados y Senadores, al Congreso de la Unión y a las Legislaturas de los Estados. Las iniciativas presentadas por el Presidente de la República, por las Legislaturas de los Estados o por las Diputaciones de los mismos, pasarán desde luego a comisión. Las que presentaren los diputados o los senadores, se sujetarán a los trámites que designe el Reglamento de Debates. La iniciativa de ley es un proyecto que se presenta al Poder Legislativo para éste lo estudie, analice y, en su caso, siguiendo el proceso que señala la Constitución Política de los Estados Unidos Mexicanos, se convierta en ley; a la Cámara que primero recibe el proyecto de ley se le llama Cámara de Origen. b) Discusión es el acto por el cual las Cámaras deliberan acerca de las iniciativas, a fin de determinar si deben o no ser aprobadas,11 debaten sobre la proposición que se les ha hecho, exponiendo los puntos de vista que existan a favor o en contra de ella y formulando los puntos de vista que consideran pertinentes para el perfeccionamiento del proyecto. Una vez que la iniciativa de ley ha sido estudiada, discutida y revisada por la Cámara de Origen, si se considera que es prudente, se procede al siguiente paso del proceso legislativo: la aprobación. c) Aprobación, aquí los integrantes de la Cámara de Origen dan su autorización a la iniciativa para que ésta se convierta en ley, una vez aprobada la iniciativa, se envía a la otra Cámara, a cual se denomina Cámara Revisora, para que ésta también la discuta. La aprobación pude ser total o parcial, la primera de ellas se da cuando aceptan que la iniciativa, una vez discutida y analizada, fue autoriza por la Cámara de Origen para que se apruebe la ley; la segunda, se da cuando la iniciativa de ley tiene observaciones, por tal motivo elaborarán la propuesta de reformas o adiciones que se consideren pertinentes y sea discutida nuevamente. d) Sanción, una vez que la iniciativa de ley ha sido aprobada por las dos Cámaras, se debe enviar el Ejecutivo para que éste ordene su publicación, y es el acto por el cual el Presidente de la República manifiesta, mediante su firma, la aprobación del proyecto de ley que le envían las Cámaras, a este hecho se le llama sanción Sin embargo, el Presidente de la República puede hacer observaciones, y en este caso, la devolverá a la Cámara de Origen, en donde será discutido de nuevo, y su fuere confirmado por las dos terceras partes del número total de votos de la Cámara de Origen, y pasará otra vez a la Cámara Revisora, en la cual se analizarán las observaciones, y si la iniciativa también fuere confirmada por la misma mayoría, el proyecto se declarará y será enviado al Ejecutivo para su promulgación; así, en caso de que las observaciones sean aceptadas, el procedimiento será el mismo para el caso de la revisión. A la facultad que tiene el Presidente de la República para hacer observaciones o rechazar iniciativas de ley aprobadas por las Cámaras, se le denomina derecho de veto. El Ejecutivo dispone de un término de 10 días hábiles para ejercer el derecho de veto, pues se entiende que si pasado ese término sin que devuelva el proyecto de ley a su Cámara de Origen, éste ha sido aceptado por el Ejecutivo, si se da el caso de que en ese término concluyan o se suspendan las sesiones del Congreso, la devolución deberá hacerse el primer día hábil en que el Congreso reinicie sus sesiones. f) Promulgación, una vez que el proyecto de ley ha sido aceptado por el Poder Ejecutivo, se procede a la promulgación, que es la aprobación expresa del Ejecutivo, donde se manifiesta la orden de publicación y que se ejecute dicha ley. 32 g) Publicación, una vez que la ley fue promulgada, ésta debe ser puesta en conocimiento de la población. Se publica en el Diario Oficial de la Federación, que es el medio de comunicación que utilizan las autoridades federales para dar a conocer a la población las resoluciones administrativas, las leyes y otros avisos de importancia general. Respecto a la publicación de las leyes que emiten los Estados, éstas se realizan por medio de la Gaceta de Gobierno del Estado. h) Iniciación de la vigencia, aquí es donde la ley empieza a tener fuerza obligatoria para toda la población. En México, existen dos sistemas para que inicie la vigencia de una ley, a saber: El sucesivo consiste en que la ley entra en vigor tres días después de la publicación en el Diario Oficial de la Federación, en los lugares en los cuales no se publiquen el diario oficial, se dará un día más por cada 40 kilómetros o fracción que exceda la mitad de distancia entre el lugar de publicación y el sitio donde habrá de iniciarse la vigencia. Este sistema está considerado en el artículo 3 del Código Civil Federal, y es utilizada en el caso de que la ley no establezca la fecha en que entrará en vigor. El sincrónico es cuando la propia ley señala el día que iniciará su vigencia, en este caso, entrará en vigor en todos los lugares de su aplicación en la fecha establecida, esto lo señala el artículo 4 del Código Civil Federal. 2.1.3.2 La costumbre Es la regulación de la conducta surgida espontáneamente de un grupo social y de observancia voluntaria para quienes lo constituy







Flashcard 1428878658828

Tags
#blue-apron #citychef
Question
Blue Apron creates and captures value by solving a prescient problem facing many Americans today: [...] but [...]
Answer
they love to cook

feel they don’t have the time.


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Blue Apron creates and captures value by solving a prescient problem facing many Americans today: they love to cook but feel they don’t have the time.

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
Written by SRT, Posted on December 9, 2015 Blue Apron leverages supply chain innovation to get fresh ingredients, great recipes delivered weekly to your home. [imagelink] <span>Blue Apron creates and captures value by solving a prescient problem facing many Americans today: they love to cook but feel they don’t have the time. Blue Apron “delivers farm fresh ingredients and original recipes so [people] can create an incredible meal any night of the week 2 .” The company works with local farmers to create deli







Article 1428881018124

The (almost) complete guide to food delivery services major-players
#citychef #complete-guide-of-food-delivery-service

What’s for dinner? Venture capitalists have been betting big that you’ll turn to one of a growing number of food delivery services for an answer. The on-demand services range from providing ingredients and recipes to delivering pre-cooked gourmet meals to your doorstep. Recipe and ingredient subscription services Blue Apron and Hello Fresh have each landed $193 million in total investment capital; and an ever-growing list of similar companies also have been funded generously in the past three years. Add to the category services such GrubHub a nd Seamless, essentially logistics companies that deliver restaurant fare, and startups like Maple and Gobble, which have their own kitchens and operate solely in the home delivery space, and you have a hot and burgeoning industry that didn’t exist five years ago. Even Uber and Amazon are getting in on the act: UberEATS is now delivering restaurant meals in less than ten minutes in four U.S. cities; Amazon promises one hour delivery of groceries and prepared me



#citychef
Recipe and ingredient subscription services Blue Apron and Hello Fresh have each landed $193 million in total investment capital

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
ve been betting big that you’ll turn to one of a growing number of food delivery services for an answer. The on-demand services range from providing ingredients and recipes to delivering pre-cooked gourmet meals to your doorstep. <span>Recipe and ingredient subscription services Blue Apron and Hello Fresh have each landed $193 million in total investment capital; and an ever-growing list of similar companies also have been funded generously in the past three years. Add to the category services such GrubHub a nd Seamless, essentially logistics c




#citychef
Recipe and ingredient subscription services Blue Apron and Hello Fresh have each landed $193 million in total investment capital; and an ever-growing list of similar companies also have been funded generously in the past three years. Add to the category services such GrubHub a nd Seamless, essentially logistics companies that deliver restaurant fare, and startups like Maple and Gobble, which have their own kitchens and operate solely in the home delivery space, and you have a hot and burgeoning industry that didn’t exist five years ago.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
ve been betting big that you’ll turn to one of a growing number of food delivery services for an answer. The on-demand services range from providing ingredients and recipes to delivering pre-cooked gourmet meals to your doorstep. <span>Recipe and ingredient subscription services Blue Apron and Hello Fresh have each landed $193 million in total investment capital; and an ever-growing list of similar companies also have been funded generously in the past three years. Add to the category services such GrubHub a nd Seamless, essentially logistics companies that deliver restaurant fare, and startups like Maple and Gobble, which have their own kitchens and operate solely in the home delivery space, and you have a hot and burgeoning industry that didn’t exist five years ago. Even Uber and Amazon are getting in on the act: UberEATS is now delivering restaurant meals in less than ten minutes in four U.S. cities; Amazon promises one hour delivery




#citychef #complete-guide-of-food-delivery-service
Even Uber and Amazon are getting in on the act: UberEATS is now delivering restaurant meals in less than ten minutes in four U.S. cities; Amazon promises one hour delivery of groceries and prepared meals in a handful of markets.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
companies that deliver restaurant fare, and startups like Maple and Gobble, which have their own kitchens and operate solely in the home delivery space, and you have a hot and burgeoning industry that didn’t exist five years ago. <span>Even Uber and Amazon are getting in on the act: UberEATS is now delivering restaurant meals in less than ten minutes in four U.S. cities; Amazon promises one hour delivery of groceries and prepared meals in a handful of markets. But it’s not an easy business. Good Eggs, a San Francisco-based that delivered groceries and prepared food, recently closed its doors, citing the difficulties of scaling an




#citychef #complete-guide-of-food-delivery-service
But it’s not an easy business. Good Eggs, a San Francisco-based that delivered groceries and prepared food, recently closed its doors, citing the difficulties of scaling and supply chain management.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
Even Uber and Amazon are getting in on the act: UberEATS is now delivering restaurant meals in less than ten minutes in four U.S. cities; Amazon promises one hour delivery of groceries and prepared meals in a handful of markets. <span>But it’s not an easy business. Good Eggs, a San Francisco-based that delivered groceries and prepared food, recently closed its doors, citing the difficulties of scaling and supply chain management. “The [companies] that succeed will be the ones that build differentiated products, solve complex operational challenges, and create brands that customers are emotionally in




#citychef #complete-guide-of-food-delivery-service
“The [companies] that succeed will be the ones that build differentiated products, solve complex operational challenges, and create brands that customers are emotionally involved with,” contends Blue Apron co-founder and CEO Matt Salzberg. His company recently opened a third distribution center and now delivers meals across the continental U.S.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
ndful of markets. But it’s not an easy business. Good Eggs, a San Francisco-based that delivered groceries and prepared food, recently closed its doors, citing the difficulties of scaling and supply chain management. <span>“The [companies] that succeed will be the ones that build differentiated products, solve complex operational challenges, and create brands that customers are emotionally involved with,” contends Blue Apron co-founder and CEO Matt Salzberg. His company recently opened a third distribution center and now delivers meals across the continental U.S. Some of the startups are pivoting, too. Take, for example, Gobble, which founder Ooshma Garg launched in 2010 as a traditional prepared meal delivery service. Last spring,




#citychef #complete-guide-of-food-delivery-service
Some of the startups are pivoting, too. Take, for example, Gobble, which founder Ooshma Garg launched in 2010 as a traditional prepared meal delivery service. Last spring, she changed her model and now delivers dinner kits that can be prepared in ten minutes and in one pan. Prices start at $11.95 per meal. She says the company learned that “getting food in a takeout box was not satisfying [to some working parents] because people felt guilty about not actually cooking.”

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
es, and create brands that customers are emotionally involved with,” contends Blue Apron co-founder and CEO Matt Salzberg. His company recently opened a third distribution center and now delivers meals across the continental U.S. <span>Some of the startups are pivoting, too. Take, for example, Gobble, which founder Ooshma Garg launched in 2010 as a traditional prepared meal delivery service. Last spring, she changed her model and now delivers dinner kits that can be prepared in ten minutes and in one pan. Prices start at $11.95 per meal. She says the company learned that “getting food in a takeout box was not satisfying [to some working parents] because people felt guilty about not actually cooking.” Other companies that have also iterated their models to differentiate themselves from the pack: BodyOm delivers healthy snacks similar to another service, Nature Box but it




#citychef #complete-guide-of-food-delivery-service
Other companies that have also iterated their models to differentiate themselves from the pack: BodyOm delivers healthy snacks similar to another service, Nature Box but it offers only raw food; Zesty competes with traditional delivery companies like Seamless by offering only healthy meals with nutritional info and calorie counts. “No one product will own the entire market,” says Garg. “A lot of these companies are complementary with one another.”

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

The (almost) complete guide to food delivery services
in ten minutes and in one pan. Prices start at $11.95 per meal. She says the company learned that “getting food in a takeout box was not satisfying [to some working parents] because people felt guilty about not actually cooking.” <span>Other companies that have also iterated their models to differentiate themselves from the pack: BodyOm delivers healthy snacks similar to another service, Nature Box but it offers only raw food; Zesty competes with traditional delivery companies like Seamless by offering only healthy meals with nutritional info and calorie counts. “No one product will own the entire market,” says Garg. “A lot of these companies are complementary with one another.” Here’s a rundown of the market and its major players: Recipe and ingredient dinner kits : Blue Apron, Hello Fresh and Plated are the most established players a




#citychef #complete-guide-of-food-delivery-service
Recipe and ingredient dinner kits: Blue Apron, Hello Fresh and Plated are the most established players and offer subscription boxes that include recipes and ingredients for three dinners per week for at least two people. Costs range from $10 – $15 per dinner, and the services offer varying degrees of customization. Smaller players such as Marley Spoon, PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas.

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The (almost) complete guide to food delivery services major-players
s with nutritional info and calorie counts. “No one product will own the entire market,” says Garg. “A lot of these companies are complementary with one another.” Here’s a rundown of the market and its major players: <span>Recipe and ingredient dinner kits : Blue Apron, Hello Fresh and Plated are the most established players and offer subscription boxes that include recipes and ingredients for three dinners per week for at least two people. Costs range from $10 – $15 per dinner, and the services offer varying degrees of customization. Smaller players such as Marley Spoon, PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas. Restaurant takeout. Seamless and GrubHub, which merged in 2013, are essentially mobile platforms that connect consumers with local restaurants for takeout delivery. Restau




#citychef #complete-guide-of-food-delivery-service
Restaurant takeout. Seamless and GrubHub, which merged in 2013, are essentially mobile platforms that connect consumers with local restaurants for takeout delivery. Restaurants pay the services a commission. Unlike smaller competitor DoorDash, GrubHub does not have its own fleet of delivery vehicles, but that may be changing soon. In response to big competitors such as Uber and Amazon, who also have designs on the food delivery market and have the logistical manpower to be far more agile than most restaurants, GrubHub is rolling out its own fleet in a few test markets.

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The (almost) complete guide to food delivery services major-players
range from $10 – $15 per dinner, and the services offer varying degrees of customization. Smaller players such as Marley Spoon, PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas. <span>Restaurant takeout. Seamless and GrubHub, which merged in 2013, are essentially mobile platforms that connect consumers with local restaurants for takeout delivery. Restaurants pay the services a commission. Unlike smaller competitor DoorDash, GrubHub does not have its own fleet of delivery vehicles, but that may be changing soon. In response to big competitors such as Uber and Amazon, who also have designs on the food delivery market and have the logistical manpower to be far more agile than most restaurants, GrubHub is rolling out its own fleet in a few test markets. Prepared food delivery. Companies such as Munchery , Sprig, Maple and SpoonRocket prepare their own gourmet meals, often tapping into celebrity chef mojo (Momofuku’s Davi




#citychef #complete-guide-of-food-delivery-service
Prepared food delivery. Companies such as Munchery, Sprig, Maple and SpoonRocket prepare their own gourmet meals, often tapping into celebrity chef mojo (Momofuku’s David Chang is an investor in Maple), and delivering to local markets. They may cater to individuals, or focus on corporate clients in startup hubs such as New York and San Francisco. The sweet spot: inventive, healthy meals in the $10 range.

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The (almost) complete guide to food delivery services major-players
o big competitors such as Uber and Amazon, who also have designs on the food delivery market and have the logistical manpower to be far more agile than most restaurants, GrubHub is rolling out its own fleet in a few test markets. <span>Prepared food delivery. Companies such as Munchery , Sprig, Maple and SpoonRocket prepare their own gourmet meals, often tapping into celebrity chef mojo (Momofuku’s David Chang is an investor in Maple), and delivering to local markets. They may cater to individuals, or focus on corporate clients in startup hubs such as New York and San Francisco. The sweet spot: inventive, healthy meals in the $10 range. Niche delivery services. There are endless variations on the delivery theme – name a food preference, and there’s surely a startup that can accommodate you. For instance,




#citychef #complete-guide-of-food-delivery-service
Niche delivery services. There are endless variations on the delivery theme – name a food preference, and there’s surely a startup that can accommodate you. For instance, Purple Carrot is a recipe and ingredient delivery service that appeals to vegans with it’s all raw, whole food, and plant-based aesthetic. Green Blender offers weekly delivery of five smoothie recipes and pre-portioned ingredients. And Fuel Food will send you five to 10 prepared meals per week, complete with calorie counts and nutritional information.

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s an investor in Maple), and delivering to local markets. They may cater to individuals, or focus on corporate clients in startup hubs such as New York and San Francisco. The sweet spot: inventive, healthy meals in the $10 range. <span>Niche delivery services. There are endless variations on the delivery theme – name a food preference, and there’s surely a startup that can accommodate you. For instance, Purple Carrot is a recipe and ingredient delivery service that appeals to vegans with it’s all raw, whole food, and plant-based aesthetic. Green Blender offers weekly delivery of five smoothie recipes and pre-portioned ingredients. And Fuel Food will send you five to 10 prepared meals per week, complete with calorie counts and nutritional information. <span><body><html>




Article 1428901727500

How an immigrant motherfucker made munchery
#citychef #munchery

Tri Tran was always looking for something better to eat than government gruel. He grew up in the desper-ately lean decade after the end of the Vietnam War, in the small city of Ba Ria, about 50 miles southeast of Ho Chi Minh City. Because his parents were public school teachers, they received discounts on rations of rice, root vegetables, and sorghum, which his mother cooked together. The paste was barely enough to subsist on and gave Tran terrible digestive problems. So he, his older brother, Trac, and their father occasionally sneaked into desiccated rice fields to gather wild vegetables and, if they were lucky, paddy crabs. Tran’s parents knew their sons faced limited prospects. Tran was only 11 years old in 1986, but he remembers failed escape attempts, brokered by shady operators who skirted the com-munist government’s prohibition on leaving the country. Once, the family stowed away in a canoe and paddled into the middle of Ganh Rai Bay to meet a larger boat that never arrived. Later, walking back f



Flashcard 1428903038220

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Demand curve shows both the [...], and [...] at each price
Answer
highest price buyers are willing to pay for each quantity

the highest quantity buyers are willing and able to purchase


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Demand curve shows both the highest price buyers are willing to pay for each quantity, and the highest quantity buyers are willing and able to purchase at each price

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3. BASIC PRINCIPLES AND CONCEPTS
se a given amount of a good or service at a given price. Supply is the willingness of sellers to offer a given quantity of a good or service for a given price. Later, study on the theory of the firm will yield the supply curve. <span>The demand and supply model is useful in explaining how price and quantity traded are determined and how external influences affect the values of those variables. Buyers’ behavior is captured in the demand function and its graphical equivalent, the demand curve. This curve shows both the highest price buyers are willing to pay for each quantity, and the highest quantity buyers are willing and able to purchase at each price. Sellers’ behavior is captured in the supply function and its graphical equivalent, the supply curve. This curve shows simultaneously the lowest price sellers are willing to accept for each quantity and the highest quantity sellers are willing to offer at each price. If, at a given quantity, the highest price that buyers are willing to pay is equal to the lowest price that sellers are willing to accept, we say the market has reached it







Flashcard 1428905397516

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
Sellers’ behavior is captured in [...] and its graphical equivalent, [...].
Answer
the supply function

the supply curve


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Sellers’ behavior is captured in the supply function and its graphical equivalent, the supply curve. This curve shows simultaneously the lowest price sellers are willing to accept for each quantity and the highest quantity sellers are willing to offer at each price

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3. BASIC PRINCIPLES AND CONCEPTS
se a given amount of a good or service at a given price. Supply is the willingness of sellers to offer a given quantity of a good or service for a given price. Later, study on the theory of the firm will yield the supply curve. <span>The demand and supply model is useful in explaining how price and quantity traded are determined and how external influences affect the values of those variables. Buyers’ behavior is captured in the demand function and its graphical equivalent, the demand curve. This curve shows both the highest price buyers are willing to pay for each quantity, and the highest quantity buyers are willing and able to purchase at each price. Sellers’ behavior is captured in the supply function and its graphical equivalent, the supply curve. This curve shows simultaneously the lowest price sellers are willing to accept for each quantity and the highest quantity sellers are willing to offer at each price. If, at a given quantity, the highest price that buyers are willing to pay is equal to the lowest price that sellers are willing to accept, we say the market has reached it







Flashcard 1428908018956

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
For every unit up to the equilibrium unit traded, buyers would have been willing to pay [...].
Answer
more than they actually had to pay


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For every unit up to the equilibrium unit traded, buyers would have been willing to pay more than they actually had to pay. Additionally, for every one of those units, sellers would have been willing to sell it for less than they actually received. The total value to buyers was greater than the total variab

Original toplevel document

3.11. Total Surplus—Total Value minus Total Variable Cost
In the previous sections, we have seen that consumers and producers both receive “a bargain” when they are allowed to engage in a mutually beneficial, voluntary exchange with one another. For every unit up to the equilibrium unit traded, buyers would have been willing to pay more than they actually had to pay. Additionally, for every one of those units, sellers would have been willing to sell it for less than they actually received. The total value to buyers was greater than the total variable cost to sellers. The difference between those two values is called total surplus , and it is made up of the sum of consumer surplus and producer surplus. Note that the way the total surplus is divided between consumers and producers depends on the steepness of the d







Flashcard 1428910378252

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
The difference between the value buyers would have been willing to pay mor and sellers would have been willing to charge less (up to equilibrium price) is called [...]
Answer


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, for every one of those units, sellers would have been willing to sell it for less than they actually received. The total value to buyers was greater than the total variable cost to sellers. The difference between those two values is called <span>total surplus<span><body><html>

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3.11. Total Surplus—Total Value minus Total Variable Cost
In the previous sections, we have seen that consumers and producers both receive “a bargain” when they are allowed to engage in a mutually beneficial, voluntary exchange with one another. For every unit up to the equilibrium unit traded, buyers would have been willing to pay more than they actually had to pay. Additionally, for every one of those units, sellers would have been willing to sell it for less than they actually received. The total value to buyers was greater than the total variable cost to sellers. The difference between those two values is called total surplus , and it is made up of the sum of consumer surplus and producer surplus. Note that the way the total surplus is divided between consumers and producers depends on the steepness of the d







Flashcard 1428914572556

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
This result is the beauty of free markets: They maximize society’s net benefit from production and consumption of goods and services.

What are they talking about?
Answer
Total Surplus


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nd are allowed to buy all they desire at that price, and when all firms face that same price and are allowed to sell as much as they want at that price, the total of consumer and producer surplus (total surplus) is maximized from that market. <span>This result is the beauty of free markets: They maximize society’s net benefit from production and consumption of goods and services.<span><body><html>

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3.12. Markets Maximize Society’s Total Surplus
antities that equate their marginal values across all consumers. Importantly, that behavior maximizes total consumer surplus. Exhibit 15. How Total Surplus Can Be Reduced by Rearranging Quantity <span>A precisely analogous argument can be made to show that when all producers produce quantities such that their marginal costs are equated across all firms, total producer surplus is maximized. The result of this analysis is that when all consumers face the same market equilibrium price and are allowed to buy all they desire at that price, and when all firms face that same price and are allowed to sell as much as they want at that price, the total of consumer and producer surplus (total surplus) is maximized from that market. This result is the beauty of free markets: They maximize society’s net benefit from production and consumption of goods and services. <span><body><html>







Flashcard 1428918766860

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
When the tax is imposed, the demand curve shifts [...] by the tax per unit, t.
Answer
vertically downward


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When the tax is imposed, the demand curve shifts vertically downward by the tax per unit, t. This shift results in a new equilibrium

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3.13. Market Interference: The Negative Impact on Total Surplus
; Originally, the pre-tax equilibrium is where D and S intersect at (P*, Q*). Consumer surplus is given by triangle a plus rectangle b plus triangle c, and producer surplus consists of triangle f plus rectangle d plus triangle e. <span>When the tax is imposed, the demand curve shifts vertically downward by the tax per unit, t. This shift results in a new equilibrium at the intersection of S and D′. That new equilibrium price is received by sellers (P rec’d ). However, buyers now must pay an additional t per unit to government, resulting in a total







Flashcard 1428920601868

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Sometimes, [...] interfere with the free working of markets. Examples include price ceilings, price floors, and specific taxes.
Answer
government policies


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Sometimes, government policies interfere with the free working of markets. Examples include price ceilings, price floors, and specific taxes. Whenever the imposition of such a policy alters the free market equilibriu

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SUMMARY
ducer surplus is the difference between the total revenue received by sellers from selling a given amount and the total variable cost of production of that amount. When equilibrium price is reached, total surplus is maximized. <span>Sometimes, government policies interfere with the free working of markets. Examples include price ceilings, price floors, and specific taxes. Whenever the imposition of such a policy alters the free market equilibrium quantity (the quantity that maximizes total surplus), there is a redistribution of surplus between buyers and sellers; but there is also a reduction of total surplus, called deadweight loss. Other influences can result in an imbalance between demand and supply. Search costs are impediments in the ability of willing buyers and willing sellers to meet in a transaction. Brokers can add value if they reduce search costs and match buyers and sellers. In general, anything that improves information about the willingness of buyers and sellers to engage will reduce search costs and add value. Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the per







Flashcard 1428922961164

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Examples include price ceilings, price floors, and specific taxes.

Examples of what?
Answer
Government interference


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Sometimes, government policies interfere with the free working of markets. Examples include price ceilings, price floors, and specific taxes. Whenever the imposition of such a policy alters the free market equilibrium quantity (the quantity that maximizes total surplus), there is a redistribution of surplus between buyers and

Original toplevel document

SUMMARY
ducer surplus is the difference between the total revenue received by sellers from selling a given amount and the total variable cost of production of that amount. When equilibrium price is reached, total surplus is maximized. <span>Sometimes, government policies interfere with the free working of markets. Examples include price ceilings, price floors, and specific taxes. Whenever the imposition of such a policy alters the free market equilibrium quantity (the quantity that maximizes total surplus), there is a redistribution of surplus between buyers and sellers; but there is also a reduction of total surplus, called deadweight loss. Other influences can result in an imbalance between demand and supply. Search costs are impediments in the ability of willing buyers and willing sellers to meet in a transaction. Brokers can add value if they reduce search costs and match buyers and sellers. In general, anything that improves information about the willingness of buyers and sellers to engage will reduce search costs and add value. Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the per







Flashcard 1428927941900

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
Economists use a quantitative measure of sensitivity called [...].
Answer
elasticity


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Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the percentage change in the independent variable of interest. Important specific elasticities

Original toplevel document

SUMMARY
tion. Brokers can add value if they reduce search costs and match buyers and sellers. In general, anything that improves information about the willingness of buyers and sellers to engage will reduce search costs and add value. <span>Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the percentage change in the independent variable of interest. Important specific elasticities include own-price elasticity of demand, income elasticity of demand, and cross-price elasticity of demand. Based on algebraic sign and magnitude of the various elasticities, goods can be classified into groups. If own-price elasticity of demand is less than one in absolute va







Flashcard 1428930301196

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
In general, elasticity is the ratio of [...].
Answer
the percentage change in the dependent variable to the percentage change in the independent variable of interest


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Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the percentage change in the independent variable of interest. Important specific elasticities include own-price elasticity of demand, income elasticity of demand, and cross-price elasticity of demand.

Original toplevel document

SUMMARY
tion. Brokers can add value if they reduce search costs and match buyers and sellers. In general, anything that improves information about the willingness of buyers and sellers to engage will reduce search costs and add value. <span>Economists use a quantitative measure of sensitivity called elasticity. In general, elasticity is the ratio of the percentage change in the dependent variable to the percentage change in the independent variable of interest. Important specific elasticities include own-price elasticity of demand, income elasticity of demand, and cross-price elasticity of demand. Based on algebraic sign and magnitude of the various elasticities, goods can be classified into groups. If own-price elasticity of demand is less than one in absolute va







Flashcard 1428932922636

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary
Question
If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and [...].
Answer
price will rise


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If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall.

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SUMMARY
lly will be obtained at a different price and a different quantity than before. The market mechanism is the ability of prices to adjust to eliminate any excess demand or supply resulting from a shift in one or the other curve. <span>If, at a given price, the quantity demanded exceeds the quantity supplied, there is excess demand and price will rise. If, at a given price, the quantity supplied exceeds the quantity demanded, there is excess supply and price will fall. Sometimes auctions are used to seek equilibrium prices. Common value auctions sell items that have the same value to all bidders, but bidders can only estimate that valu







Flashcard 1428934757644

Tags
#blue-apron #citychef
Question
The business model focuses on removing the biggest obstacle to cooking – [...]
Answer
deciding what to cook.


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The business model focuses on removing the biggest obstacle to cooking – deciding what to cook.

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
asonal ingredients at a better value than the local grocery store. As COO Matt Wadiak says, “everybody who wants to cook is our customer 1 ”. The recipes are simple, with instructions written in a clear and direct way, complete with pictures. <span>The business model focuses on removing the biggest obstacle to cooking – deciding what to cook. The service is convenient, offering free delivery in refrigerated boxes whenever best fits the customer’s schedule. The step-by-step recipes are appropriate for beginner and experienced







Control of the supply chain.
#blue-apron #citychef #operational-model #supply-chain
Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment.

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Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat,

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
lity ingredients. On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. <span>Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decision




#blue-apron #business-model #citychef #operational-model
Bulk purchasing, portioned delivery. Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste.

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regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. <span>Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage t

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
lity ingredients. On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. <span>Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decision




Data analytics.
#blue-apron #business-model #citychef #data-analytics #operational-model
As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software6. The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price.

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r week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. <span>Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and managemen

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
lity ingredients. On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. <span>Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decision




Supporting Suppliers.
#blue-apron #business-model #citychef #operational-model #supporting-suppliers
There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms.

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for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. <span>Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. <span><body><html>

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
lity ingredients. On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. <span>Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest partner for a given shipment. Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from 1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per week, Blue Apron can allocate the ingredients in a way that reduces food waste. Everything subscribers receive is pre-measured to the precise proportions the recipe requires, meaning less spending on unnecessary produce and less food waste. Data analytics . As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operations, ecommerce and order processing, shipping software, customer service software 6 . The software can estimate how many customers will cancel an order in any given week, for example, which allows the company to plan meals based on the expected availability and price of certain crops. Using this data helps create processes that improve operational efficiency and lower costs, supporting the $10 per meal price. Supporting Suppliers. There is a team at Blue Apron responsible for negotiating with farms to source ingredients, but they also work closely with farmers on crop rotation and management. This allows the company to work with farmers to plan production in a way that is more seasonal, more efficient and utilizes their resources better, all of which results in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decision




#blue-apron #citychef
Key operational decisions about supply chain control, supplier relations, and use of data to drive decision making, help the company succeed in its goal of delivering fresh ingredients at a low price, helping people cook great meals any night of the week.

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Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decisions about supply chain control, supplier relations, and use of data to drive decision making, help the company succeed in its goal of delivering fresh ingredients at a low price, helping people cook great meals any night of the week.

Original toplevel document

Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
in higher quality crops at lower prices for consumers. Additionally, by helping farmers to plan to rotate “heavy feeder” plants with less hungry plants like legumes, the farms use less pesticide and fertilize, resulting in healthier farms. <span>Blue Apron focuses on bringing their customers an easy way to cook through a high quality food delivery service that has never bene available at scale before. Key operational decisions about supply chain control, supplier relations, and use of data to drive decision making, help the company succeed in its goal of delivering fresh ingredients at a low price, helping people cook great meals any night of the week. 1 http://www.vogue.com/13375872/men-love-blue-apron/ 2 https://www.blueapron.com/ 3 http://www.forbes.com/sites/alexkonrad/2015/10/14/inside-blue-apron-and-the-meal-kit-rush/




Flashcard 1428946029836

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#blue-apron #citychef
Question
Who is a customer of blue apron?
Answer
“Everybody who wants to cook is our customer,”


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when I asked cofounder and COO Wadiak whether men were their target customers, he quickly dispelled that notion. “Everybody who wants to cook is our customer,” he explained over the phone. “But we have actually found that we have a high percentage of customers who have never cooked before.”

Original toplevel document

Why Men Love Blue Apron - Vogue
t is about having a nice home-cooked meal,” he said. “We throw on some music and divide the tasks. I’m the meat-and-stove guy. She’s better at dicing.” Adding to my hunch, I noted that the hands pictured on their recipe cards were male. But <span>when I asked cofounder and COO Wadiak whether men were their target customers, he quickly dispelled that notion. “Everybody who wants to cook is our customer,” he explained over the phone. “But we have actually found that we have a high percentage of customers who have never cooked before.” Wadiak worked for years as a chef, both in restaurants and in people’s homes. “If you ever teach a class to someone who has never cooked before, you really learn quickly what people can







Flashcard 1428951797004

Tags
#blue-apron #citychef
Question

[culinary director]
[...]
[culinary manager] Tim Kemp’s hands.”
Answer
Chris Sorensen’s


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[culinary director] Chris Sorensen’s [culinary manager] Tim Kemp’s hands.”

Original toplevel document

Why Men Love Blue Apron - Vogue
ho only knows how to cook one or two meals off the top of his head—agreed with Henrique’s reasoning. “I don’t have to come up with new recipes,” he said. “If the planning were left to me, I would just eat the same thing over and over again.” <span>As for the explanation behind the man hands pictured in their recipe cards, Wadiak said that was purely a coincidence. “Those hands are either my hands, [culinary director] Chris Sorensen’s hands, or [culinary manager] Tim Kemp’s hands.” The three of them are responsible for testing new recipes in the Blue Apron’s test kitchen and thus end up being photographed the majority of the time. “We’ve had a couple of recipes where it’s women testing,” he said. “But if you have one of those cards, they’re basically considered a collector’s item.” [emptylink] [imagelink] Subscribe now6 Issues for $