TRABAJO DE FUNDAMENTOS DE ECONOMÍA

(GLOSARIO DE TÉRMINOS EN INGLÉS)

PRESENTADO POR:

JAIME HURTADO MADERO

SIMON ALMANZA
CAROLINA JIMÉNEZ

PRESENTADO A:
PROF. CARMELO GUZMÁN

PROGRAMA DE ING. INDUSTRIAL

FUNDACIÓN UNIVERSITARIA TECNOLÓGICO COMFENALCO

2019
 Glossary

Reforms: Modification of a thing in order to improve it.

Taxes: are public-law revenues consisting of mandatory cash benefits, imposed

unilaterally by the State

Tax: the penalty was imposed for irregularities in the settlement of their tax
obligations.

Organization: system designed to achieve certain goals and objectives.

Property: Fact or circumstance of possessing a certain thing and being able to

dispose of it within legal limits.

Payment: a way to extinguish obligations through the effective fulfillment of a

due service.

Income: amounts received by a company for the sale of its products or services
(business income)

Investment: it is an economic term, with several related meanings such as

savings, the location of capital, and the postponement of consumption. The
term appears in business management, finance and macroeconomics

Government: authority that directs, controls and administers the institutions of

the State.

Policy: is the process of making decisions that apply to all members of a group.
It is also the art, doctrine or opinion referring to the government of the States.

Structure: configuration of the elements of a system

Money: means of common exchange, used for the payment of goods,
merchandise, services, and debts.

Finance: branch of economics and business administration.

Public sector: the set of administrative bodies through which the State complies
or enforces the policy or will expressed in the laws of the country.

State: form of social, economic organization, sovereign and coercive politics

Patrimony: is the set of goods and rights, charges and obligations, belonging to
a person, physical or legal.

Deficit: it is the lack of some good, be it money, food or anything else.

Direct taxes: is one that directly taxes the sources of wealth, property or
income.

Indirect taxes: it is the tax that taxes the consumption.

Legal persons: subject of rights and obligations as an institution

Payment capacity: is the maximum amount of your income that you can allocate
to the payment of debts.

Tax evasion: is the illegal activity in which people or companies incur when they
hide assets or income to the tax authorities.

Public expenditure: Amount of money spent by the Administration to meet the

needs of citizens.

Effective: That produces the expected effect, which goes well for a certain thing.
Tax revenues: are those that the State collects to finance public sector
activities, such as taxes, duties, products and uses.

Economy: System of production, distribution, trade and consumption of goods

and services of a society or a country.

Operating expenses: it is a forecast of all possible income and expenses of that

business over the course of a year

Entity: Association of people of any kind, especially those engaged in a work

activity.

Prosecutor: is the subject who acts as a representative of the public prosecutor

in a court.

Debt: Obligation that a person has to pay or return a thing, usually money.

Investment: Action to reverse the order, direction or position of a thing.

Budget: Advance calculation of the cost of a work or a service.

Constitution: Set of characters or traits that configure the body structure of an

individual.