In the hotel sector, the concept GOP, acronym for Gross Operating Profit, is widely used. In Spanish, the Gross Operating Result is used more frequently to refer to the same term. The meaning of GOP is the result of subtracting direct costs, indirect costs, payroll and direct operating expenses from total income. This financial indicator … Read more
The meaning of the Gini index, or Gini coefficient is an indicator developed by the Italian statistician Correado Gini that is used to measure the level of inequality between the inhabitants of a territory, which is usually a country. In general, its use is concentrated in the field of economía to analyze the differences in … Read more
Gross domestic product or GDP is an economic indicator that serves to reflect the total number of goods and services that have been produced by a country in a given period of time. Of course, GDP only takes into account final production, otherwise the accounting it would become double. Furthermore, GDP is limited to measuring … Read more
Talking about objectives, from an economic point of view, must necessarily refer to the objectives of the company. The objectives are the goals to be achieved, and can refer to multiple variables. For example, one can speak of production objectives, as well as objectives related to each of the company's products or services. But also, … Read more
Not all goods that are traded in the market have the same importance or have the same characteristics among them. Today we are going to talk to you about one of these types of goods: the inferior good. When we speak of inferior good we refer to goods that, by increasing people's income, demand of … Read more
When we talk about gross added value we refer to a macroeconomic magnitude to measure the total value that has been created in a given country or territory. The value created is measured according to goods and services that companies in that country have been able to produce during a specific period of time, and … Read more
The concept of gross margin refers to the direct benefit that a company obtains from a service or good. To calculate it, the difference between the sale price of the item excluding VAT and the production cost must be taken into account. This term is also known as profit margin. It is generally calculated as … Read more
Normal goods are those whose demand increases as consumer income grows. Although there are several classes of consumer goodsand services within a economía, most of these are classified as normal goods. These types of goods are usually governed by the Normal Law of Demand in which income and demand are proportional, but in addition to … Read more
A substitute good is that good (or service) that is capable of satisfying the same need as another good. In that sense, it is the consumer's decision to be able to replace said good with another due to the functions it performs. The difference between choosing one or the other is the characteristics or the … Read more
The Gross National Product (GNP) is an estimate of the total final value of all products and services generated by the residents of a country in a given period. For its calculation, unlike what happens with the Gross Domestic Product, foreigners living in the country are excluded, but what is produced by nationals residing in … Read more
