Sol Melia

Sol Meliá, S.A. was founded by Gabriel Escarrer Juliá in 1956 in Mallorca, when he leased the Altair Hotel in Palma. Over the subsequent years Escarrer took advantage of the island's increasing popularity as a tourist destination for package holidaymakers, adding further properties to the portfolio of his company

Nowadays, the company is the world's largest operator of holiday resorts and the 13th biggest hotel chain worldwide. Domestically the company is the market leader in both resort and urban hotels. Currently Sol Meliá operates more than 300 hotels in 30 countries worldwide, employing over 35,000 people.

Although publicly-traded since 1996, the Escarrer family continues to control Sol Meliá, holding a combined stake of over 61% at the end of 2007.

The brics

Brasil, Russia, India and China are the four countries that make up the BRICs. These four countries are said to be at a similar stage of developing economic advancement.

Changing Business Environment

CHANGING BUSINESS ENVIRONMENT

The new economist lady

The Nobel Prize in Economic this year has been awarded to two economists: Elinor Ostrom and Oliver Williamson for their research in outside the market forces.

Ostrom is the first woman to receive the award. A professor at Indiana University, she won the Nobel "for her analysis of economic governance, especially the commons," according to the Royal Swedish Academy of Sciences press release.

Climate change is an issue Ostrom believes can't wait for government regulation to solve.

Her research shows that people can develop sophisticated mechanisms for decision-making and rule enforcement to handle conflicts of interest. In other words, it's possible for citiziens to work collectively to solve problems outside of the marketplace and without the need for government regulation.

Taxes

Taxes are involuntary fees that are imposed on individuals, companies or goods that are enforced by the government to raise government funds.
They are very important for a countries economy and for the living standards. Taxes are used to improve infrastructure, help the unemployed, and many other things.
They can be very beneficial for people as well as a pain for most people.
There are many types of taxes, as seen in the visual above.

Business Organisation

IGCSE BS: Business Oragnisation

Business Activity

IGCSE BS: Business Activity

Assets and liabilities

Assets - economic resources. They are items fóf economic value that can be exchanged for cash. Securities and stock are types of assets.

Liabilities -obligation that binds individuals or companies to settle a debt. They are things that you owe to someone else. Mortages and loans are liabilities.

When you buy a house, the house would become your asset. The mortage with which you financed the house is your liability.

In a balance sheet, the value of the assets has to equal the value of the liabilities.

Why Economics?

Because Economics examines what drives human beings to do what they do, and looks at how they react when faced with difficulties or succes.

Because Economics matters. It determines everything from the price of what you eat, to how much your house costs, and whether or not you have an education or health care.

Because it helps you to understand the world around you.

Because it is a subject that is provocative, poweful, and highly relevant to almost every aspect of our lives.