Buscar

Economia e Mercado Unidade II

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes
Você viu 3, do total de 7 páginas

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes
Você viu 6, do total de 7 páginas

Faça como milhares de estudantes: teste grátis o Passei Direto

Esse e outros conteúdos desbloqueados

16 milhões de materiais de várias disciplinas

Impressão de materiais

Agora você pode testar o

Passei Direto grátis

Você também pode ser Premium ajudando estudantes

Prévia do material em texto

�/LYUR�7H[WR���8QLGDGH�,,
�
�6OLGH�GD�DXOD�
�
�9LGHRDXOD���3DUWH�,
�9LGHRDXOD���3DUWH�,,
�9LGHRDXOD���3DUWH�,,,
�9LGHRDXOD���3DUWH�,9
([HUFtFLR���
9DVFRQFHOORV�H�*DUFLD��������S������FRPHQWDP�D�SURSyVLWR�GD�KLSyWHVH��³WXGR�R�PDLV�FRQVWDQWH´��������WRUQD�VH�SRVVtYHO�R�HVWXGR�GH�XP�GHWHUPLQDGR
PHUFDGR�VHOHFLRQDQGR�VH�DSHQDV�DV�YDULiYHLV�TXH�LQIOXHQFLDP�RV�DJHQWHV�HFRQ{PLFRV�������QHVWH�SDUWLFXODU�PHUFDGR��LQGHSHQGHQWHPHQWH�GH�RXWURV�IDWRUHV�
TXH�HVWmR�HP�RXWURV�PHUFDGRV��SRGHUHP�LQIOXHQFLi�ORV�
(VVD�KLSyWHVH�WDPEpP�p�FRQKHFLGD�FRPR�
$���0D[LPL]DomR�GRV�JDQKRV�
%���0LQLPL]DomR�GRV�JDQKRV�
&���&RHWHULV�3DULEXV�
'���/yJLFD�DULVWRWpOLFD�
(���0DFURHFRQRPLD�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�&�
&RPHQWiULRV�
&���9DVFRQFHOORV�H�*DUFLD��������S������FRPHQWDP�R�SURSyVLWR�GD�KLSyWHVH�&RHWHULV�3DULEXV��R�TXH�VLJQLILFD��WXGR�R�PDLV�FRQVWDQWH����>���@�WRUQD�VH�SRVVtYHO�R
HVWXGR�GH�XP�GHWHUPLQDGR�PHUFDGR��VHOHFLRQDQGR�VH�DSHQDV�DV�YDULiYHLV�TXH�LQIOXHQFLDP�RV�DJHQWHV�HFRQ{PLFRV�>���@�QHVWH�SDUWLFXODU�PHUFDGR�
LQGHSHQGHQWHPHQWH�GH�RXWURV�IDWRUHV��TXH�HVWmR�HP�RXWURV�PHUFDGRV��SRGHUHP�LQIOXHQFLi�ORV���2V�HQVLQDPHQWRV�HFRQ{PLFRV�VmR�PRGHORV�TXH�WHQWDP
H[SOLFLWDU�D�UHDOLGDGH�GH�IRUPD�VLPSOLILFDGD��$�HFRQRPLD��FRPR�FLrQFLD�VRFLDO�SDVVD�D�VHU�PDLV�EHP�FRPSUHHQGLGD��FRPR�OHL��DR�XWLOL]DU�VH�GR�&RHWHULV�3DULEXV�
([���D�DILUPDomR���6H�RV�SUHoRV�DXPHQWDUHP��D�GHPDQGD�VHUi�UHGX]LGD���DSHQDV�WHP�YDOLGDGH�XQLYHUVDO�TXDQGR�XWLOL]DPRV�D�H[SUHVVmR�&RHWHULV�3DULEXV��6H
QDGD�DOWHUDU��VH�WXGR�SHUPDQHFHU�FRQVWDQWH��WRGDV�DV�YH]HV�TXH�RV�SUHoRV�IRUHP�PDMRUDGRV��RV�DJHQWHV�HFRQ{PLFRV�UHGX]LUmR�D�TXDQWLGDGH�GHPDQGDGD�GH
XP�GHWHUPLQDGR�EHP�RX�VHUYLoR��2V�HFRQRPLVWDV�XWLOL]DP�D�H[SUHVVmR�&RHWHULV�3DULEXV�MXVWDPHQWH�SDUD�GHPRQVWUDU�TXH�D�HFRQRPLD�QmR�p�XPD�FLrQFLD
H[DWD��FDUWHVLDQD��LPXWiYHO�
([HUFtFLR���
(PSUHVD�~QLFD�H�PXLWR�JUDQGH��DOJXQV�SHTXHQRV�FRQFRUUHQWHV�RX�SRXFDV�HPSUHVDV�JUDQGHV�H�PXLWDV�HPSUHVDV�SHTXHQDV�
$���0RQRSyOLR�RX�PRQRSV{QLR�
%���2OLJRSyOLR�RX�PRQRSyOLR�
&���&RQFRUUrQFLD�PRQRSROLVWD�
'���(VWUXWXUD�PLVWD�H�SXUD�
(���0RQRSV{QLR�RX�ROLJRSyOLR�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�%�
&RPHQWiULRV�
%���HPSUHVD�~QLFD�H�PXLWR�JUDQGH��FRP�DOJXQV�SHTXHQRV�FRQFRUUHQWHV�RX�SRXFDV�HPSUHVDV�JUDQGHV�H�PXLWDV�HPSUHVDV�SHTXHQDV��$V�JUDQGHV�HPSUHVDV
GRPLQDP�H�DV�SHTXHQDV�DV�VHJXHP��2�UHVXOWDGR�p�HIHWLYDPHQWH�R�PRQRSyOLR�RX�R�ROLJRSyOLR��$�PDLRU�SDUWH�GRV�ROLJRSyOLRV��LQG~VWULD�GR�DoR��SRU�H[HPSOR�
WHP�XP�JUDQGH�Q~PHUR�GH�SHTXHQDV�HPSUHVDV�HP�VXDV�PDUJHQV�
([HUFtFLR���
1R�FDVR�GH�RIHUWD�GH�SURGXWRV�FRPR�R�FLPHQWR�H�R�DOXPtQLR��TXH�VmR�FRQVLGHUDGRV�VXEVWLWXWRV�SHUIHLWRV�HQWUH�VL�H��SRUWDQWR��KRPRJrQHRV��D�SHTXHQD
TXDQWLGDGH�GH�RIHUWDQWHV�FDUDFWHUL]D�XP�
$���0RQRSyOLR�
%���0RQRSVRQLR�
&���2OLJRSyOLR�
'���2OLJRSyOLR�SXUR�
(���2OLJRSyOLR�LPSXUR�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�'�
&RPHQWiULRV�
'���R�FDVR�GH�RIHUWD�GH�SURGXWRV�FRPR�R�FLPHQWR�H�R�DOXPtQLR��TXH�VmR�FRQVLGHUDGRV�VXEVWLWXWRV�SHUIHLWRV�HQWUH�VL�H��SRUWDQWR��KRPRJrQHRV��D�SHTXHQD
TXDQWLGDGH�GH�RIHUWDQWHV�FDUDFWHUL]D�XP�ROLJRSyOLR�SXUR�RX�ROLJRSyOLR�SHUIHLWR��2�ROLJRSyOLR�p�XPD�VLWXDomR�GH�PHUFDGRV�FRQFHQWUDGRV��QD�TXDO�D�SURGXomR�VH
FRQFHQWUD�HP�XP�SHTXHQR�Q~PHUR�GH�ILUPDV��1R�ROLJRSyOLR�WDPEpP�H[LVWHP�EDUUHLUDV�j�HQWUDGD�GH�SRWHQFLDLV�FRQFRUUHQWHV��PDV�DV�Do}HV�HQWUH�DV
HPSUHVDV�QmR�VmR�QHFHVVDULDPHQWH�FRRUGHQDGDV��4XDQGR�Ki�DOJXP�WLSR�GH�DFHUWR�UHIHUHQWH�DRV�SUHoRV�TXH�VHUmR�SUDWLFDGRV��R�ROLJRSyOLR�FDUDFWHUL]D�VH�FRPR
XP�FDUWHO��0RQRSyOLR�SXUR�RX�QDWXUDO��RFRUUH�TXDQGR�R�PHUFDGR��SRU�VXDV�SUySULDV�FDUDFWHUtVWLFDV��H[LJH�D�LQVWDODomR�GH�JUDQGHV�SODQWDV�LQGXVWULDLV��TXH
RSHUDP�QRUPDOPHQWH�FRP�HFRQRPLDV�GH�HVFDOD�H�FXVWRV�XQLWiULRV�EDVWDQWH�EDL[RV��SRVVLELOLWDQGR�j�HPSUHVD�FREUDU�SUHoRV�EDL[RV�SRU�VHX�SURGXWR��R�TXH
DFDED�SUDWLFDPHQWH�LQYLDELOL]DQGR�D�HQWUDGD�GH�QRYRV�FRQFRUUHQWHV��0RQRSyOLR�OHJDO��TXDQGR�XPD�OHL�DVVHJXUD�DR�YHQGHGRU�D�SULPD]LD�QR�PHUFDGR��([HPSOR�
DWp�������D�3HWUREUiV�SRVVXtD��SRU�OHL��R�PRQRSyOLR�GDV�DWLYLGDGHV�GH�H[WUDomR�H�UHILQR�GR�SHWUyOHR��0RQRSyOLR�WpFQLFR��TXDQGR�D�SURGXomR�DWUDYpV�GH�XPD
~QLFD�HPSUHVD�p�D�IRUPD�PDLV�EDUDWD�GH�IDEULFDomR�GR�SURGXWR��([HPSOR��JHUDomR�H�GLVWULEXLomR�GH�HQHUJLD�HOpWULFD��0RQRSyOLR�ELODWHUDO��TXDQGR�XP
PRQRSVRQLVWD��YHUHPRV�D�VHJXLU���QD�FRPSUD�GH�XP�IDWRU�GH�SURGXomR��GHIURQWD�VH�FRP�XP�PRQRSROLVWD�QD�YHQGD�GHVVH�IDWRU��([HPSOR��D�%RPEULO�FRPSUD
XP�WLSR�GH�DoR�TXH�DSHQDV�D�%HOJR�0LQHLUD�SURGX]��2�SUHoR�GHSHQGHUi�GR�SRGHU�GH�EDUJDQKD�GH�FDGD�XP�
([HUFtFLR���
2�IXQFLRQDPHQWR�EiVLFR�GRV�PHUFDGRV�H�GD�LQWHUDomR�HQWUH�RV�DJHQWHV��SRU�PHLR�GD�FRQKHFLGD�OHL�GD�RIHUWD�H�GD�SURFXUD��e�Dt�TXH�WUDWDPRV�GH�PRVWUDU�FRPR
R�VLVWHPD�VH�PDQWpP�HP�HTXLOtEULR��GLUHFLRQDGR�QmR�GH�IRUPD�FHQWUDO��PDV�SHORV�SUHoRV�TXH�DVVXPHP�RV�YiULRV�EHQV�H�VHUYLoRV��(�PRVWUD�VH�FRPR�R
PHUFDGR��SRU�VXD�OLYUH�DWXDomR��DWLQJH�R�JUDX�GH�HILFLrQFLD�HFRQ{PLFD��2�WH[WR�DFLPD�VH�UHIHUH�D�R��
$���3ODQHMDPHQWR�H�FRQWUROH�
%���)RUoDV�SURGXWLYDV�
&���0RGRV�GH�SURGXomR�
'���)XQomR��RIHUWD��GHPDQGD�H�SUHoR�
(���(FRQRPLD�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�'�
&RPHQWiULRV�
'���$�OHL�GD�RIHUWD�H�GD�SURFXUD�EDVHLD�VH�QD�LQWHUDomR�PHUFDGROyJLFD�HQWUH�RV�DJHQWHV��DVVLP��SDUD�TXH�R�PHUFDGR�REWHQKD�HILFLrQFLD�HFRQ{PLFD�VHUi
QHFHVViULR�TXH�VH�HVWDEHOHoD�XP�HTXLOtEULR��FRQIRUPH�VH�GHPRQVWUD�QR�H[HPSOR�D�VHJXLU��$V�IXQo}HV�GH�RIHUWD�H�GHPDQGD�GH�XP�SURGXWR�VmR�GDGDV�SRU
RIHUWD�S ������[�H�GHPDQGD�S �����[��TXDO�R�SUHoR�GH�PHUFDGR"�5HVSRVWD��2�SUHoR�GH�PHUFDGR�VH�Gi�TXDQGR�RV�SUHoRV�VmR�LJXDLV��4XDQGR�D�GHPDQGD�p
PDLRU�TXH�D�RIHUWD��R�SUHoR�ILFD�DFLPD�GR�SUHoR�GH�PHUFDGR�H�YLFH�YHUVD��S ������[�� !�S �����[�������[� ������[����[ ����[ �����
([HUFtFLR���
+i�PXLWDV�HPSUHVDV�YHQGHQGR�SURGXWRV�GLIHUHQFLDGRV��TXH�QmR�VmR�VXEVWLWXWRV�SUy[LPRV�HQWUH�VL��LGHQWLILFDGRV�SRU�PDUFDV�GLIHUHQWHV��ID]HQGR�FRP�TXH�RV
SURGXWRUHV�SRVVDP�FRPHUFLDOL]DU�R�VHX�SURGXWR�D�XP�SUHoR�PDLV�FRQYHQLHQWH��PD[LPL]DQGR�VHXV�OXFURV��(VVH�WH[WR�GHILQH�
$���2OLJRSyOLRV�
%���0RQRSV{QLRV�
&���&RQFRUUrQFLD�PRQRSROtVWLFD�
'���2OLJRSyOLR�ELODWHUDO�
(���2OLJRSV{QLR�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�&�
&RPHQWiULRV�
&���HP�(FRQRPLD��D�FRQFRUUrQFLD�RX�FRPSHWLomR�PRQRSROtVWLFD�p�XPD�HVWUXWXUD�GH�PHUFDGR�HP�TXH�VmR�SURGX]LGRV�EHQV�GLIHUHQWHV��HQWUHWDQWR��FRP
VXEVWLWXWRV�SUy[LPRV�SDVVtYHLV�GH�FRQFRUUrQFLD��7UDWD�VH�GH�XPD�HVWUXWXUD�GH�PHUFDGR�LQWHUPHGLiULD�HQWUH�D�FRQFRUUrQFLD�SHUIHLWD�H�R�PRQRSyOLR��PDV�TXH
QmR�VH�FRQIXQGH�FRP�R�ROLJRSyOLR�SHODV�VHJXLQWHV�FDUDFWHUtVWLFDV��1~PHUR�UHODWLYDPHQWH�JUDQGH�GH�HPSUHVDV�FRP�FHUWR�SRGHU�FRQFRUUHQFLDO��SRUpP�FRP
VHJPHQWRV�GH�PHUFDGRV�H�SURGXWRV�GLIHUHQFLDGRV��VHMD�SRU�FDUDFWHUtVWLFDV�ItVLFDV��HPEDODJHP�RX�SUHVWDomR�GH�VHUYLoRV�FRPSOHPHQWDUHV��FRPR�SyV�YHQGD�
0DUJHP�GH�PDQREUD�SDUD�IL[DomR�GRV�SUHoRV�QmR�p�PXLWR�DPSOD��XPD�YH]�TXH�H[LVWHP�SURGXWRV�VXEVWLWXWRV�QR�PHUFDGR��0XLWRV�FRPSUDGRUHV�H�PXLWRV
YHQGHGRUHV��&RQVXPLGRUHV�WrP�DV�VXDV�SUHIHUrQFLDV�GHILQLGDV�H�YHQGHGRUHV�WHQWDP�GLIHUHQFLDU�RV�VHXV�SURGXWRV�GDTXHOHV�SURGX]LGRV�SHORV�VHXV
FRQFRUUHQWHV�GLUHWRV��RX�VHMD��RV�EHQV�H�RV�VHUYLoRV�VmR�KHWHURJrQHRV��([LVWHP�EDUUHLUDV�GH�HQWUDGD��FRPR�GLIHUHQFLDomR�GR�SURGXWR��FDQDLV�GH�GLVWULEXLomR
�TXDQWR�PDLV�FRQWURODGD�D�GLVWULEXLomR�QR�DWDFDGR�H�QR�YDUHMR�PDLV�GLItFLO�p�D�HQWUDGD�GH�QRYRV�FRQFRUUHQWHV���WHFQRORJLDV�HWF��(VVDV�FDUDFWHUtVWLFDV�DFDEDP
DWULEXLQGR�FHUWR�SRGHU�VREUH�R�SUHoR�GH�VHX�SURGXWR��DSHVDU�GR�PHUFDGR�VHU�FRPSHWLWLYR��GDt�R�QRPH�FRQFRUUrQFLD�PRQRSROtVWLFD���2V�SURGXWRV�SRGHP�VHU
LJXDLV��PDV�FDGD�HPSUHVD�YDL�WHQWDU�GLIHUHQFLDU�VHXV�DUWLJRV��([HPSOR��EDWDWD�IULWD��VDERU�TXHLMR��QDWXUDO��WLSRV�GH�HPEDODJHP��FRP�EULQGHV��FRP�WDWXDJHQV�
IRUPDWR�RQGXODGR��OLVR��HQWUH�RXWURV���(VVH�SRGHU�p�GHILQLGR��HP�WHUPRV�HFRQ{PLFRV��FRPR�SRGHU�GH�PHUFDGR�
([HUFtFLR���
2FRUUH�TXDQGR�D�SURGXomR�RX�R�FRQVXPR�GH�XP�EHP�DIHWD��QHJDWLYD�RX�SRVLWLYDPHQWH��RXWURV�LQGLYtGXRV��VHP�TXH�LVVR�VHMD�DSRQWDGR�SHORV�SUHoRV�GH
PHUFDGR��(VWH�HYHQWR�p�FKDPDGR�GH�
$���0HUFDGR�SHUIHLWR�%���0LFURHFRQRPLD�
&���2OLJRSyOLR�
'���0HUFDGR�GRPpVWLFR�
(���([WHUQDOLGDGHV�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�(�
&RPHQWiULRV�
(���HQWUH�DV�LPSHUIHLo}HV�GH�PHUFDGR��SRGHP�VHU�PHQFLRQDGDV�DV�H[WHUQDOLGDGHV��TXDQGR�D�SURGXomR�RX�R�FRQVXPR�GH�XP�EHP�DIHWD��QHJDWLYD�RX
SRVLWLYDPHQWH��RXWURV�LQGLYtGXRV��VHP�TXH�LVVR�VHMD�DSRQWDGR�SHORV�SUHoRV�GH�PHUFDGR��2XWUR�DVSHFWR�UHODFLRQD�VH�jV�IDOKDV�GH�LQIRUPDomR��TXH�LPSHGHP�D
DGHTXDGD�WRPDGD�GH�GHFLV}HV��2�SRGHU�GH�PRQRSyOLR��QRUPDOPHQWH��WDPEpP�FRQGX]�D�SUHoRV�PDLRUHV�GR�TXH�RV�TXH�VHULDP�SUDWLFDGRV�FDVR�RV�SURGXWRUHV
SXGHVVHP�FRPSHWLU�PDLV�DFHQWXDGDPHQWH�QRV�PHUFDGRV�
([HUFtFLR���
e�YHURVVtPLO�DILUPDU�TXH�
,��$�WHRULD�GRV�FXVWRV�H�GD�SURGXomR�QmR�WHP�LQWHUUHODomR�
,,��$VSHFWRV�FXOWXUDLV�QmR�GHWHUPLQDP�D�GHPDQGD�
,,,��'HFLV}HV�H�IDWRV�HFRQ{PLFRV�QmR�FRQGX]HP�D�PXGDQoDV�QD�UHODomR�RIHUWD��GHPDQGD�H�SUHoR�
,9��$�PDWHPiWLFD�H�D�HVWDWtVWLFD�WHP�DPSOD�DSOLFDomR�QRV�PRGHORV�GH�DQiOLVH�GRV�IHQ{PHQRV�PLFURHFRQ{PLFRV�
9��&RQFHLWRV�HFRQ{PLFRV�QmR�VH�UHODFLRQDP�FRP�D�WHRULD�GD�ILUPD�
$���,�
%���,,�
&���,,,�
'���,9�
(���9�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�'�
&RPHQWiULRV�
'���$�PDWHPiWLFD�H�D�HVWDWtVWLFD�WHP�DPSOD�DSOLFDomR�QRV�PRGHORV�GH�DQiOLVH�GRV�IHQ{PHQRV�PLFURHFRQ{PLFRV�
([HUFtFLR���
&RQVLGHUDQGR�D�FRQFRUUrQFLD�SXUD��HVVD�HVWUXWXUD�PHUFDGROyJLFD��RV�SURGXWRUHV�QmR�ID]HP�QHQKXP�WLSR�GH�GLIHUHQFLDomR�HQWUH�SURGXWRV�QHP�WHQWDP�DGRWDU
RXWUDV�IRUPDV�GH�FRQFRUUrQFLD�H[WUDSUHoR��(VWH�FRQFHLWR�UHIHUH�VH�D�VHJXLQWH�KLSyWHVH�
$���0HUFDGR�DWRPL]DGR�
%���/LYUH�HQWUDGD�H�VDtGD�
&���0RELOLGDGH�GH�EHQV�
'���7RPDGRUHV�GH�SUHoR�
(���1mR�Ki�H[WHUQDOLGDGHV�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�'�
&RPHQWiULRV�
'���7RPDGRUHV�GH�SUHoR�RX�SULFH�WDNHUV��FRPR�DV�ILUPDV�QmR�H[HUFHP�FRQWUROH�VLJQLILFDWLYR�VREUH�R�SUHoR�GR�SURGXWR��R�SURGXWRU�LQGLYLGXDO�HP�FRQFRUUrQFLD
SXUD�p�XP�WRPDGRU�GH�SUHoR��Mi�TXH�D�ILUPD�QmR�SRGH�LQIOXHQFLDU�R�SUHoR�GH�PHUFDGR��DSHQDV�DMXVWDU�VH�D�HOH��,VVR�RFRUUH�SRUTXH��HP�FRQFRUUrQFLD�SHUIHLWD�
FDGD�ILUPD�SURGX]�XPD�IUDomR�WmR�SHTXHQD�GD�SURGXomR�WRWDO�TXH�DXPHQWDU�RX�GLPLQXLU�VXD�SURGXomR�QmR�DFDUUHWDUi�XP�LPSDFWR�VLJQLILFDWLYR�VREUH�D�RIHUWD
WRWDO�QHP�VREUH�R�SUHoR�GH�HTXLOtEULR�
([HUFtFLR���
e�YHUGDGH�DILUPDU�TXH�
$���(P�XPD�FRQFRUUrQFLD�PRQRSROLVWD�RV�SURGXWRV�VmR�KRPRJrQLRV��
%���(P�XPD�FRQFRUUrQFLD�PRQRSROLVWD�RV�SURGXWRV�VmR�GLIHUHQFLDGRV��
&���(P�XPD�FRQFRUUrQFLD�PRQRSROLVWD�GHWHUPLQD�VH�D�OLGHUDQoD�GH�PHUFDGR�SHOR�SUHoR��
'���(P�XPD�FRQFRUUrQFLD�PRQRSROLVWD�D�FRQFHQWUDomR�HFRQ{PLFD�p�GH������SDUD�XPD�~QLFD�HPSUHVD��
(���1mR�p�SRVVtYHO�PHGLU�D�FRQFHQWUDomR�HFRQ{PLFD�HP�XPD�FRQFRUUrQFLD�PRQRSROLVWD��
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�$�
&RPHQWiULRV�
$���D�FRQFRUUrQFLD�PRQRSROLVWD�p�XPD�HVWUXWXUD�GH�PHUFDGR�TXH�VH�FDUDFWHUL]D�SHOD�H[LVWrQFLD�GH�XP�JUDQGH�Q~PHUR�GH�HPSUHVDV��$�SULQFLSDO�GLIHUHQoD
HQWUH�XP�PHUFDGR�HP�FRQFRUUrQFLD�PRQRSROLVWD�H�FRQFRUUrQFLD�SHUIHLWD�p�TXH�R�SULPHLUR�VH�UHIHUH�D�SURGXWRV�GLIHUHQFLDGRV��HQTXDQWR�R�VHJXQGR�GL]�UHVSHLWR
D�SURGXWRV�KRPRJrQHRV�
([HUFtFLR����
³�4XDQWR�PDLRU�R�HPSUHJR�GH�DOJXQV�IDWRUHV�GH�SURGXomR�HP�XP�VHWRU��GHL[DQGR�RV�GHPDLV�FRQVWDQWHV��PHQRUHV�VHUmR�RV�DFUpVFLPRV�QR�SURGXWR�WRWDO�´�(VWD
DILUPDomR�p�YHUGDGHLUD�HP�UHODomR�j�
$���/HL�GD�GHPDQGD�
%���/HL�GD�RIHUWD�
&���/HL�GD�SURGXWLYLGDGH�PDUJLQDO�GHFUHVFHQWH�
'���/HL�GR�UHQGLPHQWR�FUHVFHQWH�GH�HVFDOD�
(���'HILQLomR�GR�FXVWR�PDUJLQDO�
2�DOXQR�UHVSRQGHX�H�DFHUWRX��$OWHUQDWLYD�&�
&RPHQWiULRV�
&���8P�FRQFHLWR�LPSRUWDQWH�QD�DQiOLVH�GD�WHRULD�GD�SURGXomR�p�D�OHL�GRV�UHQGLPHQWRV�GHFUHVFHQWHV��TXH�GHVFUHYH�R�FRPSRUWDPHQWR�GD�WD[D�GH�YDULDomR�GD
SURGXomR�TXDQGR�DSHQDV�XP�LQVXPR�YDULD��H�WRGRV�RV�GHPDLV�SHUPDQHFHP�FRQVWDQWHV��$R�DXPHQWDU�D�SURGXomR�GH�DFRUGR�FRP�VXD�IXQomR�GH�SURGXomR��HP
XPD�HPSUHVD�TXH�SRVVXL�DSHQDV�XP�LQVXPR�YDULiYHO��WRGRV�RV�RXWURV�FRQVLGHUDGRV�LQVXPRV�IL[RV���DV�SURSRUo}HV�GH�FRPELQDo}HV�HQWUH�RV�LQVXPRV�VH
DOWHUDP����(VVD�DOWHUDomR�HVWi�FRQGLFLRQDGD�SHOD�OHL�GRV�UHQGLPHQWRV�GHFUHVFHQWHV�RX�OHL�GD�SURGXWLYLGDGH�PDUJLQDO�GHFUHVFHQWH�±�TXDQWR�PDLRU�R�HPSUHJR
GH�DOJXQV�IDWRUHV�GH�SURGXomR�HP�XP�VHWRU��GHL[DQGR�RV�GHPDLV�FRQVWDQWHV��PHQRUHV�VHUmR�RV�DFUpVFLPRV�QR�SURGXWR�WRWDO�

Outros materiais