Microeconomics Essay Example | Topics and Well Written Essays - 2000 words

Microeconomics - Essay Example The theory of â€Å"invisible hand† proposed by the father of economics, Adam Smith, refers to this theory of price. According to Smith, prices are the sacrifice made by customers in order to make a utility gain through consumption of the good or service and the gain made by producers by selling the product that they have produced. Therefore, any rational consumer would be willing to make lesser sacrifice for a comparatively larger amount of gain. On the other hand, producers or sellers would desire to be willing to earn more by selling their product than the sacrifice they have made during producing the good. The market comes to equilibrium at the point at which both the decisions regarding buying and selling the good intersect with one another. This phenomenon is termed as the invisible hand, since the market operates without intervention by any third party (Mankiw 26). Figure: Free market equilibrium (Source: Author’s creation) Three important functions are played by price mechanism in a competitive market economy. These are signaling function, rationalling function and incentive function. Signaling function Prices of goods and services in a competitive market economy demonstrate the rate of availability or scarcity of resources in the market. It indicates whether resource is allocated adequately in different sectors in the economy (Adil 71). In the long run, high price level signals producers to enter the market, while customers are signaled to leave the market and look for cheaper substitutes. Therefore, supply rise and demand falls. Figure: Signaling effect (Source: Author’s creation) Rationalling function Prices can ration scarce resources when market demand is much higher than market supply. If market demand is higher, price would rise, thereby making the good available to those customers only that have the demand for the good backed by purchasing power. It helps to bring the market to equilibrium from a position of disequilibrium b y equaling demand with supply (Boyes and ?Michael 26). Incentive function Price mechanism plays an active and important role in the market economy. Price of a good is the incentive for both buyer and seller to buy or sell the product. For successful running of a competitive market, prices should be efficient enough to incentive the economic agents to involve into economic transactions. Figure: Rationing and incentive effect (Source: Author’s creation) If there is excess demand it raises price. Incentive effect allows suppliers to increase supply while rationalling effect makes buyers to reduce demand. This leads to a new equilibrium (from e to e2). Answer 2: Demand and supply are two basic forces that operate in a competitive market structure. Price plays an important role in determining the equilibrium quantity of demand and supply in this type of economy. Although economic theory simplistically states that there is negative relationship between price of a product and its de mand and positive relationship between price of the product and its supply; there is a difference between expansion and increase in demand or supply for a good or service and contraction or decrease in demand or supply for a good or service (Friedman 13). Expansion or contraction in demand or supply Demand (or supply) can change either due to change in price of the good (or service) or due to change in other variables affecting price.

Important place Essay Example | Topics and Well Written Essays - 1000 words

Important place - Essay Example Are you interested in knowing more about this amazing place? I know you said yes, join me as we address the nitty-gritties of this wonderful place. Talking of location, my house is perfectly located in a highly and rocky ground. It stands tall besides neatly pruned cypress trees. Located at the northwest side of the homestead, my house distinguishes itself from the rest of the houses in the neighborhood. The rear door faces the south while the front towards the north. Wind movements that usually moves from the east towards the west cannot find its way into the house. In addition, a perimeter electric fence ensures that the house is fully protected against any invasion by malicious individuals. The neighborhood is very serene. Within the region, electricity is guaranteed. However, when there is no electricity there are automatic generators; this ensures that the house is continually lit. I love the location of my house, it just fits perfectly to be a dream house that I have admired over the years. The architectural design is out of this world. It is a two-storied mansion with three bedrooms, a table room, a meditation room, three washroom areas, and a kitchen. The clean finishing and the perfect match of the colors say it all. From outside, the green compound with cypress trees matches very well with shades of green painting in the exterior section of the house. On the inside, the house is sparkling white. The outside door is automated; a stranger cannot get access without a request. The kitchen and the bedrooms have a perfect wood finishing that gives the aesthetic appeal of the house. On the middle of the house is a wooden staircase; a neatly cut wooden trunk perfectly fits at the middle and connects the upper floor from the ground floor. The trunk gives the house a natural look, which makes it very appealing. The table room is one that will impress. The wooden ceiling and the perfectly tiled floor makes the house so

Strategic Management Analysis Essay Example | Topics and Well Written Essays - 3000 words

Strategic Management Analysis - Essay Example The selection of this company is largely based upon the well known Thomas Cook brand, which is practically synonymous with packaged vacations as well as specific vacation related financial services and products. Additionally the company’s publicized commitment to a sustainable approach both to and within the tourism sector and destinations deserves the due recognition and is furthermore one of the factors for the selection of the Thomas Cook Group. The Thomas Cook Group, as a company per se, was established in 1841 by Thomas Cook who at the time was a providing excursions for fellow temperance members and campaigners and is credited with marketing the first private excursion train (Williamson 1998). This therefore makes the company almost 170 years old, which can certainly be seen as an asset in the view of competing travel related companies and service providers within the broader tourism industry. According to the latest annual report (Thomas Cook 2009) provided by the company the staff compliment is in excess of 31,000 people, catering to over 22 million customers, and in turn generating revenue in 2009 of  £9.3 billion. In addition to offering travel, travel related, packaged travel, and financial services in the broader travel sector, the company operates 95 aircraft, predominantly operating within and from the country of Germany in Europe. In so far as geographic location and representation is concerned, the group is r epresented by company owned and franchised stores in 5 geographic regions, within 21 different countries. The Thomas Cook Group has certainly grown over the years, and it appears that sound strategic management has been at the center of this growth, based largely upon acquisitions and mergers to access specific sectors of the tourism market. The analysis of the business’ history and timeline so to speak provides valuable insight into specific strategically related process, and management decisions within the group as it in turn allows us

Global education and citizenship Essay Example | Topics and Well Written Essays - 4000 words

Global education and citizenship - Essay Example Plato’s belief that talent was distributed non-genetically and thus is present in all children; therefore children should be trained by the state so that they may be qualified to resume the role of the ruling class in a state. Education as defined today is the organized teaching of a particular curriculum to students. â€Å"Education is the application of pedagogy, a body of theoretical and applied research to teaching and learning. It draws on other disciplines such as psychology, philosophy, computer science, linguistics, neuroscience, sociology and anthropology.† [1] The earliest written piece of evidence found on the rights of children is a statement made by Thomas Spence in his famous book ‘The Rights of Infants†, published in 1796. Earlier than this period emphasis was only laid of the importance of education and no specifications were laid. While in the USA child rights movement was not born till 1800 with the concept of the â€Å"Orphan Train†; this special train was run of orphan children who used to work. It was not until 1853 that the first Children’s Aid Society was founded; who gave street children homes. There was very little and slow process on the movements for the rights of the children as this gave the world cheap labor and nor did the masters have to give any additional benefits. Various movements, committees and constitutional amendments were seen before the first effective step for the promotion of child rights was taken. After the Human Rights resolution was unanimously adapted on 8th March 1989, the commission decided that children around the world require special consideration and protection. It was decided that a draft convention on the rights of children would be adapted. This would define who fall under the category of a child; plans for continuous improvement of the situation of children all over the world would be drafted and acted upon. Convention on the Rights of

A Critical Review in the Contemporary Themes in Youth Work Practice, Essay - 2

A Critical Review in the Contemporary Themes in Youth Work Practice, Thematic Area Mental Health and Emotional Wellbeing - Essay Example Mental health and emotional well-being is a journal because it is possible to incorporate videos and supplementary materials. Presentation of the journal is via a modified PDF version of full text and presented in full digital version of science. There is a modified abstract in the print version. The journal is illustrates findings of scientific research with supporting evidence. This makes it different from other articles that generally describe a topic with an introduction. The journal is has findings for enlightening the scientific community. Mental health journal presents facts as opposed to articles that give opinion and are summary for existing articles (Brendtro, 2009 Pg7). The authors believe that developing children are complex since they undergo many dynamic processes both internal and external (Brendtro, 2009 Pg7). These processes must work together to shape and create a child. It is the understanding of the author that each individual is unique through strength and vulnerability. There are situations where vulnerabilities are deep to an extent where an individual does not engage with others or appreciate the fullness of life. Most scholars believe that the extent of full potential of a human being is determined by the opportunities and challenges he encounters. The author believes that extreme cases such as maltreatment, violence and chaos might result to emotional, behavior and psychological troubles. These problems have affected individual and the society thus millions of dollars are used in succumbing these problems. A lot of time is wasted in taking care of maltreated children because they are fragile. The authors acknowledge that policies and programs are ineffective even though lots of money and time has been invented. Many children fear childhood trauma and this makes only a fraction of their full potential to be identified (Dobson, & Perry, 2010 Pg 25). Problems that children experience during their childhood

The role of nursing in a mas casualty event Research Paper

The role of nursing in a mas casualty event - Research Paper Example Acts of terrorism, disease outbreaks and natural and man-made disasters can occur anywhere at any time. Some of the disasters for which for which we must be prepared are avian influenza outbreaks, violent storms, bombing, floods, fires and transport accidents. Whatever may be the form of such casualties, in case there is always a need for nurses various services to comply with the crucial needs of such an event. In Zwirn et. al., The International Nursing Coalition for Mass Casualty Education has expressed that every nurse, on graduation from an entry levels, must have knowledge and abilities to respond to emergencies of various forms, and also that if you or your staff are unaware of any such knowledge, then you must work to acquire any such, before you are asked to respond to any emergencies. (Zwirn, et. al., 2006) In short, it is intended that nurses, without the aid to usual medical support, must be able to react in a mass casualty or emergency, affecting a larger group in unusual circumstances. At Columbia University, excellent instructive programs have been developed including the Mailman School of Public Health National Center for Disaster Preparedness and also at the Saint Louis University School of Public Health the Institute for Biosecurity and in last but not the least the certification at the Vanderbilt University School of Nursing called the Mass Casualty Education (Nursing Emergency Preparedness Education Coalition, 2007). Disaster Education All sorts of medical and ethical and social trainings must include the preparedness activities. As stated by Veenema (2003) a number of useful materials can be found at the Federal Emergency Management Agency's website (FEMA), information provided at this website includes disaster fact sheets and special material is available for parents, health professionals and teachers also to guide them as to how to speak to minors about terrorism and casualties. This material is also useful in preparing you and your family to prepare for such incidents. These materials particularly discuss the measures necessary after the very crucial seventy two hours of the emergency, particularly when the possibility of state aid and local help is low. (Veenema, 2003) As volunteers and nurses it is essential that we must know that how available resources at the event of a calamity can be made use of efficiently. To counter such emergencies, it necessary that we must be aware of our society's susceptibilities and also realize the calamity plans and other practical societal activities for instance mock drills. Such experiences are highly useful if we are the first responders in any event, and what if the available persons are the only trained disaster-trained personnel, and how ones behavior would vary if we are to permanently offer our services as caregivers. (Congressional Testimony, 2006) Recognizing Potential Threats Usually nurses are the first trained professionals, to which people approach in the event of some form of casualty. Although most of us haven't experienced disorders that may be regarded as bioterror weapons, it is essential t

Huckleberry Finn and The Catcher in the Rye essay Essay Example for Free

Huckleberry Finn and The Catcher in the Rye essay Essay The novels ‘The Adventure of Huckleberry Finn’ and ‘The Catcher in the Rye’ are both set in times where the expectations of society differed from the ones of today. Huckleberry Finn is set in the late 1800s, pre USA civil war and in a time where slavery was an accepted occurrence and the escape of a slave was seen as legally and morally wrong. This was also a time in which church attendance and education were seen as tokens of respectability. A young boy, the eponymous character, Huck, seeks to reject all that he regards as oppressive and cruel in order to establish an alternative life as a wanderer, far from adult control. The Catcher in the Rye’, on the other hand, was set in the late 1940s, a time when teenagers were just beginning to gain their own lives and being allowed more freedom than ever before. The picaresque novel gives the reader an insight into middleclass life in New York in the 50s and how one boy felt trapped by the expectations of his parents and school. His period of comparative freedom leads to unexpected consequences as he falls victim to depression and eventual supervision in an institution, putting paid forever to his dreams of freedom. Both novels present the themes of freedom and escape and the selected extracts portray incidents in the characters’ lives which focus on this theme. In both of the extracts, the characters are pretending to be someone else, Huckleberry Finn a young girl and Holden Caulfield taking a false identity. The reader may infer from this that by assuming a different and fake identity, the two boys can escape from their own lives; ones that are full of problems and worries. Escaping their lives allows them both to live a little more freely, even if just for a little while. However, Huckleberry Finn and Holden take on their new identities for different reasons. For instance, Huckleberry Finn assumes the alternative identity in order to travel across town without being recognised by anybody, as he was supposed to have died not long before. Another reason he had to pretend to be a girl is to protect his and Jim’s safety. Holden on the other hand, assumes the alternative identity in order to befriend people he meets on his journey without the people realising that he should still be at school. Various audiences of the two novels would interpret and receive the occurrences in the extracts very differently. For example, the audience of Huckleberry Finn would be shocked at Huck escaping, living with a slave and then dressing as a girl. This is because the changes in society since Huckleberry Finn was written are significant. In the late 1800s, young boys were to be well educated and then sent off to be a successful businessman, not to escape and run amok. Slaves were also seen as inferior and a possession and anybody helping them was breaking the law. Another thing that the different audiences would feel differently about is the fact that Jim gets called a ‘nigger’ quite often. An audience of the 1880s would accept that as normal as they were used to hearing it, whereas an audience of the 2000s would be shocked by this, as the word nigger has a very malicious meaning nowadays and is considered a racist insult due to the equality rights now instilled in the majority of society, due to the word undergoing perjoration. The audience of Catcher in the Rye would probably not be surprised at the behaviour that Holden employs, as teenagers in the late 1940s were gaining a new sense of freedom and the dangers of letting your children out into the world unsupervised had not yet been considered. They also would accept that he might befriend any stranger that he comes across. However in the 40s there still existed traditional views about respect for authority although they were gradually evaded. His parents however do not approve of him staying in the hotel by himself. In the 2000s however, we would frown upon a young teenager travelling around alone, talking to strangers and booking a hotel room in a large city. The maturity of the two different characters is also very different. Although Holden wants and tries to be mature, the reader very quickly sees that he is in actual fact very childish and naive. This could be so that he can escape the realities of adult life, and stay in his idealistic child’s world forever. Despite this, he does attempt to seem more of an adult by using more taboo language and more complicated language around people who he would like to impress, like the females in the Lavender Room. For example, he says; ‘I’m twelve, for Chrissake. I’m big for my age. ’ Although the word Chrissake, which is the words ‘Christ’s sake’ after undergoing elision and with Holden’s idiolect, is not considered taboo now, it was still frowned upon in the 1940s, as some sectors of society were still highly religious. Another taboo word he used a lot is ‘Goddamn’. Again this word, which is the words ‘God damn’ that have also undergone elision and are with Holden’s idiolect, is no longer considered taboo or offensive, due to the change in society over time. This language choice illustrates Holden’s immaturity as it shows that he believes that using taboo words and more complicated language will make him look more grown up, when in actual fact it simply makes him seem barbaric and pretentious. Huck, on the other hand seems quite comfortable with his maturity level, which is one that seems to fluctuate. For instance, he seems to treat the whole journey in the novel as an adventure, one that fuels his child-like imagination; as is shown when Huck plays a prank on Jim. He says; ‘I went to the cavern to get some, and found a rattlesnake in there. I killed him, and curled him up at the foot of Jim’s blanket, ever so natural, thinking there’d be some fun when Jim found him there’. This illustrates his immature side as children are more likely to play pranks and find them amusing. Another way that Twain shows Huck’s immaturity and failed education is through his speech, as Twain uses elision in depicting Huck’s speech and gives him a very strong idiolect and dialect. One instance of this is; ‘Who done it? we’ve heard considerable about these goings on, down in Hookerville, but we don’t know who t’was that killed Huck Finn. Huck uses the word ‘t’was’ instead of saying ‘it was’. Using elision as strong as this also shows us how badly educated Huck is, despite the attempts of Widow Douglas to correct this. However, you do get to see the more mature side of Huck. One example of this is when he makes plans for his escape from his father. He makes a list of the things he needs and even fakes his own death so that he can never be found. This shows his maturity because he has the initiative to put the plans into place and fool the people he is escaping from. Another example would be when he treats and considers Jim to be his friend, as it is obvious that he has to ignore society and make his own decision to befriend someone who could potentially get him into trouble with the law. Also, he has to overcome a moral dilemma when deciding whether to escape with Jim, or hand him over to Widow Douglas, to whom Jim rightfully belongs. The fact that Jim is a possession of someone else would shock modern audiences as they are not used to this due to the change in society. This particularly shows his maturity because he was making a decision about somebody else’s life as well, as Jim would have been sold on if returned to Widow Douglas, therefore thwarting his plan to find his family. The decision that Huck had to make had consequences beyond his control and Huck was fully and completely aware of this whilst making the choice. The central characters in the two novels respond to the theme of escape in different but not quite contrasting ways. For Huckleberry Finn, the journey he goes on allows him to grow up and realise what he wants for himself in the future. Huck’s resolution to embrace traditional societal values by resuming his studies shows he has come to a positive decision about his future. On the other hand, for Holden the journey is a reality check, as it shows him that he is not ready for the outside and adult world because he hadn’t even got the simple child’s world right. He saw life as a game, and was stubbornly naive. His loss of autonomy at the end of the novel shows loss of dreams of freedom and little hope of escape from the downward spiral he has found himself in along the way.