The euro area is a monetary union. In order to have a monetary union, there must be a situation in which at least two countries share the same official currency. In the euro area, this requirement is met. In other words, more than two countries have the euro as their official currency. Specifically, there are 19 states.Read More
Gross Value Added, known by its acronym GVA, is a macroeconomic magnitude that measures the total value created by a sector, country or region. That is, the value of the set of goods and services that are produced in a country during a period of time, discounting indirect taxes and intermediate consumption.
Bankruptcy is an economic situation in which a company, organization or an individual finds itself when, due to the inability to face its debts with the available resources, has to permanently cease its activity.
The term business comes from the Latin negotium, a word formed by nec and otium (“what is not leisure”). It is about the occupation, the work or the task that is carried out for profit.
Among the most notorious debates within the economic world, it is worth highlighting the debate that faces those economists who are more in favor of a market economy, and other economists, who demonstrate less confidence in “the invisible hand” of Adam Smith and, therefore, they propose a planned economy model. A very widespread debate across the planet, which, to date, has not found a valid conclusion.
Created in 1834, Zollverein was an economic organization by German termed as a customs union under Prussian leadership. Numerous German states joined forces to create a free trade zone and establish customs tariffs against third countries.
The Single Euro Payments Area (SEPA) is a collective association created in Europe that allows companies, individuals and public bodies to make payments in euros without using cash. These payments can be made using a single bank account for payment transactions in different part of Europe within the SEPA zone.
Moral values are those values that a person is acquired based on their experience. Those rules or behavioural modes are inherited and transmitted by society to citizens. In addition, they determine how to behave directly or indirectly.
The added value or value added is the additional utility that has a good or service as a consequence of having undergone a transformation process.
In other words, the value of a product or service is worth more than the sum of the resources used. This transformation process from a series of elements to a final element produces added value.
William Stanley Jevons was an English economist and logician, known for pioneering the Marginalist Revolution and for his use of the differential calculus in economics.
William Stanley Jevons (1835-1882) was born in Liverpool to a wealthy merchant family. He entered University College London , but due to the bankruptcy of the family businesses, he had to withdraw from studies and travel to Sydney, Australia to work for several years at the Mint.
The public debt is the total amounts of debts by the State or a Country to another Country or Organizations which have accumulated with the passage of different governments and which have been requested in order to obtain greater financial resources.