Spanish Banking Evolution: From San Fernando to Banco de España
Before the establishment of the Banco Español de San Fernando, the financial situation was not sound. The government forced through the merger of two institutions; their shares were exchanged at par despite their differing economic situations. The resulting new bank was called Banco Español de San Fernando.
The Banco Español de San Fernando (1847-1856)
Even though the bank had a paid-in capital of 200 million reales, its problems did not disappear. Many of the new bank’s assets were impaired,
Read MoreFundamental Economic Models and Concepts
Understanding Key Economic Concepts
The Circular Flow Diagram
- This model simplifies the economy to include two types of decision-makers: businesses and households.
- Businesses produce goods and services using factors such as labor, land, and capital. These are called factors of production.
- Households own the factors of production and consume all goods and services produced by businesses.
- Households and firms interact in two types of markets:
- In markets for goods and services, households are buyers and
Key Economic Concepts Defined
Microeconomics
The branch of economics that studies the economy of consumers, households, or individual firms.
Macroeconomics
The branch of economics that studies the overall working of a national economy.
Scarcity
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs.
Economic Efficiency
The use of resources to maximize the production
Costa Rica: Customs & Residency Programs for Businesses & Individuals
Inward Processing Regime (PA) in Costa Rica
The Inward Processing Regime (PA) is a customs procedure in Costa Rica that allows goods to enter the country with the suspension of all types of duties and taxes, subject to a guarantee. This regime is designed to promote re-export and local sales of transformed products.
Modes of the Inward Processing Regime
This scheme operates under two primary modes:
- 100% Re-export (Directly or Indirectly): This mode benefits companies that re-export their entire production
Business Planning & Financial Terminology Explained
Business Planning Essentials
Product & Service Description
This section describes the product or service in detail, including relevant criteria such as weight, color, shape, texture, and volume.
Production Process
This outlines the logical phases that must be followed in the manufacture of our product, detailing the steps involved in achieving the desired output.
Production Plan
These plans are outlined in more detail within our product or service description. They encompass the overall strategy for
Read MoreInternational Trade Dynamics: Theories, Balances, and Exchange Rates
International Trade Fundamentals
Defining International Trade
International trade is the exchange of goods and services between different countries.
Free Trade Principles
Free Trade: The absence of barriers to the exchange of goods and services between countries.
Economic Impact of Global Trade
- Companies are compelled to constantly innovate and adapt their behavior to remain competitive.
- Exports from countries with low production costs can influence developed economies.
- The bulk of world trade involves