Background to the EU 1957 Treaty Of Rome established the EEC between 6 original members 1960 EFTA between UK, Aus, Den, Nor, Port, Swiss and Swe 1973 UK, Ireland and Denmark join EC 1999 Creating of Euro single currency. Community Institutions European Commission, this is the civil service of the EU Council of Ministers from …
Black Wednesday refers to the date 16 September 1992, when the UK was forced out of the ERM. The Exchange rate mechanism was a key policy tool for the Conservative government. The logic of joining the ERM was that the chancellor Nigel Lawson believed that being in a fixed exchange rate Would help to reduce …
Building societies evolved in the 18th Century as a way for people to buy a house by pooling savings and mortgages. Many of the early building societies were temporary i.e. the aim was to pay off a mortgage and then close down the building society. However, permanent building societies emerged as more people wished to …
Business ethics refers to the way firms behave with regard to conducting business. Business ethics involves following legal requirements for business, but, also involves considering issues which may be legal but not necessarily beneficial for society. Business Ethics may involve. Treatment of workers, shareholders, stakeholders, suppliers etc Care not to mislead consumers and workers with …
Costs of production relate to the different expenses that a firm faces in producing a good or service. Types of costs Fixed costs – costs that don’t vary with output Sunk costs – costs that cannot be recovered on leaving industry, e.g. advertising Variable costs – costs relating to how much is produced (e.g. raw …
Reasons for the economic decline of Italy.
The French are not too happy. The rating agency Moody have stripped France of their triple AAA rating – downgrading French debt to AA. [link] It probably wouldn’t be so bad, but their English neighbours still retain a AAA rating, despite having a much higher budget deficit. As the English would say, that’s just not …
Recently a reader asked whether economic growth was increasing living standards and why economic growth was not leading to more leisure time in developed economies. – Is economic growth necessary? Not only is leisure time not increasing, but it is becoming more common for ‘special holidays’ to become just another retail day. In the US, …