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Hi, good morning. We are starting today a new unit called Business and Money.

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This is social science. Business means negocios and money you already know what is it.

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So we are starting focusing on many years ago when money didn't exist.

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So the trade took place in squares, en las plazas de las ciudades y los pueblos.

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people went there with their products and they exchanged it for others

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So if I wanted to buy some milk, I went there with my sheep and I said

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Hello, I would like to have some milk, would you like my sheep in exchange?

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And if that person agreed, then I went home with milk and the other person went home with my sheep

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That is an exchange of products and it was called bartering

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in trueque, many years ago. Now it doesn't happen. What can I do with my money? With

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your money you can do four things. You can save it, ahorrarlo. You can invest it, invertirlo.

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You can spend it, gastarlo. Or you can donate it, donarlo. The two words here which are

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more difficult for you are donate and invest. Donate is a synonym of give. I mean you are

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giving your money to an organization for example because you would like to help

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lo estás dando, lo estás regalando, you don't want nothing, you don't want anything in

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exchange but invest this word is quite complicated and it is related to

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business when you invest, cuando inviertes, it's because you want that you want your

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money grow. So you put your money on something and sometime afterwards you get more money than

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at the beginning. It's quite complicated to understand this concept. What is a budget?

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A budget means presupuesto. And what can a budget do? A budget can help us manage our money

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effectively in order to have less expenses and more savings. If you have a budget you can organize

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your economy, ¿ok? Se organiza tu economía para tener menos gastos y más ahorro, con lo cual tu dinero

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cada vez es más. Nevertheless we have to bear in mind three kinds of expenses, of gastos. The first

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one is fixed expenses, los gastos fijos, they are always the same and as an example is the house

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rent or the mortgage, la renta de la casa, el alquiler o la hipoteca, todos los meses es la

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misma cantidad. Then we have variable expenses, los gastos variables, they are the same but the

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amount is different, for example, I don't know, when you go shopping for buying

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food to a supermarket and it's something that it's variable because you always go

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to the supermarket to buy food but you don't always spend the same quantity of

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money in doing the shopping. Unenforcing expenses, los gastos

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imprevistos they need to be paid but they are unexpected so for example if you're at home

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and suddenly the washing machine is broken you have to buy a new one you didn't expect

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that to happen but it happened so you have to pay for a new washing machine okay that's the

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and forcing expenses. We can plan our budget. Nuestro presupuesto lo podemos planear. How?

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First of all, we have to write down the incomes and the expenses. Incomes means ingresos and

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expenses, gastos. So you have there in front of you an image, a picture of a budget, which is

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quite easy to understand, so I'm going to read it with you. We have the date, Saturday,

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3rd of April. One item, pocket money, la paga. Income, el ingreso, 3 euros. Do I spend something?

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No, nothing. So what do I have? 3 euros. Then on Sunday the 4th I cleaned my dad's car.

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So my dad gave me 5 euros for cleaning the car. So it's an income, es un ingreso. Did

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Did I spend something of that? No. So 3 del pocket money plus 5 del cleaning card, now

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I have 8 euros. But I love reading comics a lot, so I pay for a comic subscription,

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una suscripción a un cómic, que es lo mismo cada vez, es un gasto fijo, a fixed expense,

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cost me 1 euro and 50 so 8 euros that I had minus 150 now I have 6 euros and 50

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and so on okay so you can have there is an example of a budget how can I get

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more with my money como puedo obtener más por mi dinero but there are some

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tips hay algunos truquitos algunos consejos for example you have to know

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exactly what you want to buy and how

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much money you have. For example, imagine

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you want to buy iPhone, an iPhone, iPhone 11

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so to buy the iPhone 11 you have to know

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how much money you have. Then you have to

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make a list of your needs and compare

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prices. Imagine you already have the

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money to buy the iPhone 11 because you

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have saved a lot, has ahorrado muchisimo, you

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have saved a lot and now you have the money to buy the iPhone 11, but does the

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iPhone 11 cost the same in all the shops? Of course not, so you have to make an

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investigation, you have to investigate in which shop can you buy the iPhone 11, in

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which shop is the iPhone 11 cheaper, okay? So it is important then to look at these

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words, sale, bargain, discount, deal, rebaja, esto es una ganga, hay descuento, ofertas,

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because they say to us that we can find some products at half price or cheaper than usual.

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Now we are going to talk about businesses, los negocios.

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who does what in a business but before saying who does what in a business we

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have to know what is a business and how many kinds of businesses can we find

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no? Antes de saber quién hace cada cosa en un negocio vamos a saber, vamos a aprender

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los diferentes tipos de negocio que hay so here we can find four kinds of

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businesses the first one is the family business family business is very easy to

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understand because family members work here. Then we have partnership, sociedad.

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Two or more people set up a business and share all the expenses and benefits.

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Well, this is quite complicated, okay? So I'm going to explain this in Spanish.

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Una sociedad quiere decir que dos o más personas quieren montar un negocio.

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Para montar un negocio pues tienen que poner dinero de su bolsillo, con lo cual

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todas esas personas ponen el mismo dinero y comparten los gastos y los beneficios que

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después tendrán de ese negocio. That's a partnership. Then we have sole trader. Sole

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trader or propietario minorista runs his or her own business alone. That means that that person

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is just one person, nobody else, okay? Just one. It's a sole trader. And last one, franchise,

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is the one that you already know private company that pays a fee to the modern company to use the

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brand and sell the products for example i have put here two examples zara and burger king

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they are both franchised why in how many zaras do you know only one how many burger kings do you

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only one? No, of course not. You can find Zara's and Burger King's all over the world. That is

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because they are franchises, so they pay a fee, pagan una cuota, to the mother company, a la

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empresa principal, in order to use their brand para poder usar su marca y sus productos. Así que

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imagine if I want to open a Zara store in the Ponte Molins street, because I have

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I have taken a look at a place that I like and that is empty, because what I do is I get in

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contact with the Zara center and I say hello I want to open a business, he says to me

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okay, you have to pay me as much per month, which would be a fixed expense, I pay him

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tanto al mes y a cambio me deja abrir un Zara en la calle Pond de Molins, en el local donde

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yo quiero.

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That's a franchise.

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Now we are ready to talk about who does what in a company, in a business.

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A company belongs to a group of people called shareholders, accionistas.

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Well, another difficult word, shareholders, accionistas, what's that?

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Well, los accionistas son personas que se asocian, que son los dueños de la empresa

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¿Por qué? Un poco como pasaba antes en la sociedad, porque ponen el dinero para que esa empresa tire para adelante

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Ellos son los dueños, son los accionistas, son los dueños de la empresa, son los que han puesto el dinero

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So, how is a company organized?

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At the top, we have the CEO, the chief executive officer.

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Bueno, pues, this chief executive officer es el director general, director ejecutivo.

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He's the boss.

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And we think of our school, this person, the CEO of our school, could be Iván.

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¿Vale?

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Pero esto no es realista porque nuestro cole no es una empresa,

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pero vamos a imaginar que lo fuera, ¿vale?

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Para que sea más fácil para entenderlo.

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So the CEO at school would be Iván

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Then below the CEO we have the chief financial officer

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This person is responsible for the money

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The person responsible for the money at the school is María

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Below we have the chief operation officer

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This is the responsible for the department directors

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This person at the school would be May

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then we have department directors there are several departments such as the sales department

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finance department human resources department administration information technology marketing

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department many departments and they are run by directors the sales director the finance director

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the human resource director well these directors at the school would be for example victor victor

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or is the director of the TIC department, or Ana, the sexto, she is the Spanish department

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director, or me, Natalia, I am the director of the bilingual department, and at the bottom

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of the pyramid we can find the managers and staffs, los gerentes y el resto de personal,

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They don't have many responsibilities, even though they are also the bosses of somebody

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else.

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Siempre son jefes de alguien más, aunque tienen otros jefes por encima.

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If we think of our school, they can be all the teachers, for example.

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And that's all about the organization of a company.

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If you want to run a successful business, you have to think several things, which are

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very easy and you're going to understand very well.

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If you earn more money than you spend, si ganas más dinero del que gastas, you are going

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to make a profit, tendrás un beneficio, but the way round, if you spend more money than

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you earn, you are going to have a loss, si gastas más dinero del que ganas, tendrás

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una pérdida, ok?

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So that's very easy.

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You have a picture in front of you, an image of June accounts, ice cream sales, yes, you

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have money in, money out, balance, and then you have something called startup costs, and

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an arrow saying that these are the gastos iniciales.

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Gastos iniciales is something you must pay to get your business started, ¿vale?

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to start a business there are always some initial expenses that I have to pay

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always, as I have told you before I had my place on Pond de Molins de Zara street

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but it is an empty place, my initial expenses, what will it be? I will have to paint it, I will have to

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put it nice, I will have to buy the furniture to be able to put the t-shirts, the

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perchas, no? Todo eso. Tendré que contratar la luz, el agua, ¿vale? Then we have ongoing costs.

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This is a synonym for fixed expenses, ¿ok? Fixed expenses are gastos fijos, so they are things I

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have to pay all year. Por ejemplo, en mi caso de mi tienda de zara en la calle Pondemolins,

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Unos fixed expenses que voy a tener siempre

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Pues va a ser mi factura de la luz, del gas, de la electricidad

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También voy a tener que pagar el alquiler, todo eso

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Ah, y pagar también a la gente que trabaje en mi tienda

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Tendré que pagarle un salario

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Unvariable costs, los gastos variables

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They may change according to how many sales the business makes

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pues si resulta que estoy vendiendo muchas camisetas amarillas

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porque este año el amarillo está de moda

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pues tendré que comprar más camisetas amarillas

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son variable expenses of variable costs

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and that's all

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we have finished with these units

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I know it's a bit complicated to understand all the words

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but please if you have questions

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if you don't understand something

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let me know okay you have this video for you and you can watch it as many times as you want

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or as many times as you need okay so bye bye thank you for listening to me