The Economist Essay Example | Topics and Well Written Essays - 2000 words

The Economist - Essay Example The main publications and services offered by the Economist include The Economist newspaper, The Economist online, Economist intelligence unit, Economist Conferences, Economist Corporate Network, The World In and Intelligent Life; along with many other government and financial brands, a well represented reflection of the fact that this newspaper that had only 6,000 copies circulated in 1920, has expanded its operations widely by keeping up with the demands of the modern times (The Economist Group, Our Brands). Unlike many of its peers, who suffered immensely by the global recession of 2008/09, The Economist has been able to report a steady growth every year. In the year 2011, the Economist has reported an increase of 10% in its profits whereas its revenue grew by 9% as compared to the last year. Such an increase in profit has led to the 10% increase in the dividend s to the shareholders in the year 2011 as compared to that of last year and the credit has been given to their advertisi ng recovery along with increased investments in their brands, which led to an increase in their print as well as e-circulations (The Economist Group, Press Releases 2011). ... The Economist always had pride in targeting the smart and the successful of the lot as their target market and it was successful too, The Economist was and is always considered as a status symbol for the respective target market but in July 2009, the Economist launched a whole new approach to its marketing strategies by targeting not only the smart and successful readers but the readers of the curious kind. The sudden change in the overall approach to the magazine’s target market has proven to be very beneficial for the company as the magazine industry grows more competitive. It has helped the company in a consistent rise in the profitability and ensuring a positive return on the shareholder’s investments. According to the Porter’s Five Forces model, there are five main factors that contribute in determining the overall competitiveness of the magazine industry (Hill et al, 2010). Every factor will be discussed separately: Risk of entry by potential competitors: T he magazine ‘The Economist’ competes both on the levels of print media and electronic media as with the passage of time the whole industry has moved to more electronic versions of distribution. Although the internet media creates both excitement and paranoia at The Economist, still the magazine has been trying to maintain its individuality on the internet. Every article on the internet is always somehow related to any other article online, thus the same individuality that the magazine pertains on the print media has proven somewhat challenging. The magazine has introduced many new features online but to say that they haven’t reached their full potential will not be unjustified, whereas new emerging magazines are utilizing

The Lesson by Toni Cade Bambara Essay Example for Free

The Lesson by Toni Cade Bambara Essay Toni Cade Bambara’s The Lesson revolves around a young black girl’s struggle to come to terms with the role that economic injustice, and the larger social injustice that it constitutes, plays in her life. Sylvia, the story’s protagonist, initially is reluctant to acknowledge that she is a victim of poverty. Far from being oblivious of the disparity between the rich and the poor, however, one might say that on some subconscious level, she is in fact aware of the inequity that permeates society and which contributes to her inexorably disadvantaged economic situation. That she relates poverty to shame—But I feel funny, shame. But what I got to be shamed about? Got as much right to go in as anybody (Bambara 604)—offers an indication as to why she is so hard-pressed to concede her substandard socioeconomic standing in the larger scheme of things. Sylvia is forced to finally address the true state of her place in society, however, when she observes firsthand the stark contrast between the rich and the poor at a fancy toy store in Manhattan. Initially furious about the blinding disparity, her emotionally charged reaction ultimately culminates in her acceptance of the real state of things, and this acceptance in turn cultivates her resolve to take action against the socioeconomic inequality that verily afflicts her, ensuring that ain’t nobody gonna beat me at nuthin (606). The Lesson posits that far from being insurmountable, economic and social injustice can be risen above, but it is necessary that we first acknowledge the role that it plays in our lives, and then determine to take action against it; indifference, and the inaction that it breeds, can only serve to perpetuate such injustices. Sylvia’s languid regard for Miss Moore, whom she refers to as this nappy-head bitch and her goddamn college degree (601), is a reflection of her initial disregard for the role that social injustice plays in her life. Miss Moore, with her proper speech (601) and desire to take responsibility for the young ones’ education (601), is a foil to Sylvia: educated, discerning, analytical. Her informed and realistic perception of the society in which they live qualifies her as an embodiment of truth within the story, and Sylvia’s rejection of her is thus symbolic of her overarching rejection of the truth. More than just refusing to acknowledge the verity of her poverty—And then she gets to the part about we all poor and live in the slums, which I don’t feature (601)—Syvlia even subconsciously runs away from it. Don’t nobody want to go for my plan, Sylvia says, which is to jump out at the next light and run off to the first bar-b-que we can find (601). Her compulsion to stray from Miss Moore suggests that on some subliminal level, she seeks to avoid confronting the truth that the lesson conveys about her indigent state. Upon arriving at the toy store, Sylvia notes: ‘This is the place,’ Miss Moore say, presenting it to us in the voice she uses at the museum. ‘Let’s look in the windows before we go in’ (602). That Miss Moore introduces the children to the store in her museum voice is indicative of her desire for the children to thoroughly analyze their new environment and synthesize what it might suggest about social stratification; Miss Moore means to show them that, like a historically significant painting in a museum, the society in which they live is worth studying intently. Although the explicit differences between the ghetto and Manhattan are immediately apparent, Sylvia initially fails to make the implicit connections between these external differences and larger social inequity. She boggles at the concept of a woman in a fur coat—Then we check out that we on Fifth Avenue and everybody dressed up in stockings. One lady in a fur coat, hot as it is. White folks crazy (602)—but fails to interpret what she sees in relation to the disparity between the rich and the poor. Instead, all she can do is point fingers and criticize. The children’s discovery of the fiberglass sailboat marks the story’s climax and signals the transition from rising to falling action. The cost of the sailboat provokes an as yet unseen emotionally charged, one might say true reaction from Sylvia: ‘Unbelievable,’ I hear myself say and am really stunned (603). More than just being stunned at the price of the sailboat, however, Sylvia is perhaps on some deeper level stunned at the emotions that have been roused within her. It is at this point in the story that her overriding indifference towards the roles that economic and social injustice play in her life begins to yield to a real emotional response to them. Although Sylvia has begun to respond to the disparity between the rich and the poor, she is still eluctant to fully accept it: So me and Sugar turn the corner to where the entrance [to the toy store] is, but when we get there I kinda hang back. Not that I’m scared, what’s there to be afraid of, just a toy store (604). The hesitation Sylvia encounters upon entering the store is a reflection of her desire to insulate herself from the feel ings of inadequacy she is beginning to experience: she understands that if she enters the store, she will be forced to finally confront the actuality of the socioeconomic gap that separates her from the people that the store caters to. The door to the toy store symbolically manifests this divide, as the toy store itself, with is exorbitantly priced items, is symbolic of the world of the wealthy. Sylvia’s struggle to get a hold of the door is indicative of her continuing struggle to accept absolutely her disadvantaged economic situation. Once inside the store, Sylvia can no longer ignore the blinding imparity between the rich and the poor. Her discovery of an overly priced toy clown prompts her to consider what could be bought for its price: Thirty-five dollars could buy new bunk beds for Junior and Gretchen’s boy. Thirty-five dollars and the whole household could go visit Granddaddy Nelson in the country. Thirty-five dollars would pay for the rent and the piano bill too (605). Sylvia is forced to finally address the socioeconomic inequality that works against her while simultaneously conferring certain luxuries on the rich: Who are these people that spend that much for performing clowns and $1000 for toy sailboats? What kinda work they do and how they live and how come we ain’t in on it? (605). In stark contrast with her earlier disregard for economic and social injustice, Sylvia is now incensed by it. Her anger is further incited when Sugar speaks on the implications of these newly perceived inequalities: ‘I think,’ say Sugar pushing me off her feet like she never done before, cause I whip her ass in a minute, ‘that this is not much of a democracy if you ask me. Equal chance to pursue happiness means an equal crack at the dough, don’t it? [†¦] I am disgusted with Sugar’s treachery (605). In concretely addressing the existence of socioeconomic inequality and its effects on their own lives, Sugar cements its realness in Sylvia’s mind—she can no longer run from it. It is thus the truth in Sugar’s words that she is disgusted with, not Sugar herself. Sylvia’s powerful emotions ultimately culminate in her resolve to not just acknowledge the roles that economic and social injustice play in her life, but to understand these njustices and eventually rise above them: We start down the block and she gets ahead with is O. K. by me cause I’m going to the West End and then over to the Drive to think this day through. She can run if she want to and even run faster. But ain’t nobody gonna beat me at nuthin (606). That Sylvia does not run with Sugar is symbolic of her refusal to run from the truth any longer; she now understands that it is her responsibility to face her situation head-on so that she might one day overcome it. Ironically enough, in the end it is the most cynical of the pack—the one whose idea it was to ditch Miss Moore—who extracts the most meaning from the day’s activities. In his analysis of The Lesson, Jerome Cartwright addresses the significance of Sylvia’s realization in relation to how it moves her to take action: [Sylvia] is changed in a way that promises hope for her ability to respond effectively to the newly discovered reality she faces (Cartwright 61). However, he suggests that although Sylvia’s realization regarding the unfairness of life and, as a black girl, her often low position in the scheme of things (61) is central to the story, the conflict between rich and poor and the economic injustice it reveals (61) is not what drives it forward. For Cartwright, the story is essentially about the value of lessons themselves, the value of learning and thinking. [†¦] The children do not simply need to learn one lesson: they need an education (61). While the importance of the children’s education should not be underestimated, Cartwright compromises the story’s primary importance by generalizing each of Miss Moore’s lessons into a collective importance. To conflate the importance of Sylvia’s realization about her socioeconomic status with the importance of the less critical lessons Miss Moore offers throughout the day—from the uses of the microscope to the components of the paperweight—is to downplay the story’s value as a commentary on economic and social injustice. Cartwright’s generalization in this way belies the story’s true meaning. Although historical surveys of the collective economic status of African Americans point to a long-standing relegation of blacks to lower income levels, current information points to a continuation of a long-term trend toward parity with national levels and absolutely higher levels of affluence than those experienced by most populations outside the United States (Wikipedia 10). Moreover, since the mid to late 1990s, [†¦] over 1. 7 million African Americans have gone off the poverty rolls, earnings by African American women have moved to within a few percentage points of white women’s, and unemployment among blacks in recent years has dropped below the 10 percent mark (10). While these numbers are not enough to invalidate the existence of socioeconomic inequality, they affirm that in this country, social and economic injustice can be mitigated. The unprecedented access to higher education and employment (11) that African Americans have been party to since the Civil Rights Movement speaks strongly to the opportunities for change that this country affords its citizens. However, the value of the struggle cannot be lost on us. We must recognize that such fundamental change does not manifest itself overnight: it is achievable only where a lasting commitment to it is available. Change is not beyond us. Action, however, is its necessary predecessor.

Effect of Globalization on Market Processes

Effect of Globalization on Market Processes This is the concept is well established in the current market process, Globalization is the international process and activities. Generally globalization means countries interrelated and integrated each and other. But academics and professionals provide different definition to globalization as follows, (Suny Levin institute) Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven byinternational tradeandinvestmentand aided byinformation technology. This process has effects on theenvironment, onculture, on political systems, oneconomic developmentand prosperity, and onhuman physical well-beingin societies around the world Ambassador Gà ©rard Stoudmann Globalization is a process that encompasses the causes, course, and consequences of transnational and Trans cultural integration of human and non-human activities.† Anthony McGrew’s Globalization [is] a process which generates flows and connections, not simply across nation-states and national territorial boundaries, but between global regions, continents and civilizations. This invites a definition of globalization as: ‘an historical process which engenders a significant shift in the spatial reach of networks and systems of social relations to transcontinental or interregional patterns of human organization, activity and the exercise of power. Sociologist Cesare Poppi â€Å"The literature stemming from the debate on globalization has grown in the last decade beyond any individual’s capability of extracting a workable definition of the concept. In a sense, the meaning of the concept is self-evident, in another, it is vague and obscure as its reaches are wide and constantly shifting. Perhaps, more than any other concept, globalization is the debate about it Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. Globalization has affected the products people consume, the environment, culture, security, and idea exchange between different countries. There are many factors that lead to the speedy globalization trends. Factors drive the globalization Globalization is the current strength of business and organization globalization is occurred for the following drivers otherwise globalization cannot achieve the better position in the market. Specially globalization emphasis drivers or factors illustrate under three category that are Market drivers Cost drivers Competition drivers Environmental drivers Market drivers Customer needs and wants is the main concern in the globalization, today market moves to updated service and process, but the organization consider the customer wants and need and they move to purchase the product and service from different area, then geographically every country they haven’t an entire resources, then the organization need a international support to achieve the market position. Global customers are other important factors who determine the international business and globalization, earlier the customers are requires the local product, and their requirement was limited to local but today international organization and multinational organization makes the customer limit into global, then the organization makes the international business and covers global customers as well International channeling and communication is another factor that drive the globalization today, telecommunication services are developed in many factors that makes the globalization into more effective and efficient, basically telecommunication development makes the globalization into effective and efficient. Technology There are many powerful factors of demand changes but the preference factor is technology. Today world is technology world. Technology affects and makes the changes in entire sectors. When the technology will change or update then the less period the organization can evaluate the sign of demand changes. Day to day technology development makes the organization survival into more difficult, but the organization also includes the innovation and create new concept into the business Strengths of market drivers Today a market driver makes the globalization into more effective and efficiency, there are many global areas, and business sector makes the process and business into standard. Specially banking industries, Soft drink industries, automobile industries, computer, aircraft industries are makes the market strength, and many industries uses the globalization to achieve the better position in the market as well. Traditionally and Separate different national markets are merging into one huge global marketplace where the preferences tastes and purchasing behavior of consumers in different nations are starting to converge to some global model. Cost drivers Second major important sector that determine the globalization is cost drivers, basically organization provide more importance for two activities, which are income level and cost, organization used the globalization to increase the income level and reduces the cost. Global scale economics, production different, changing technology, production development cost are the major factors that affect the globalization. Competitive advantages, absolute advantages are mostly consider under the cost drivers. Organization cost and scale of cost determines the globalization, firstly every organization consider the cost, and compare the cost, then the organization moves to less cost product and service, then the organization can increase the profit and income. Cost drivers are makes the activities and process into more better. Being lowers its overall costs by sourcing, manufacturing, and selling aircraft worldwide. Government and environmental factors Government and environmental factors that directly drive the globalization, trade policy is the main concern in the government sectors, every country that have a special government policies, and procedures, then the organization cannot freely provide the service to the market, then the organization must adopt to the government. government policies, and there economy policy decide the globalization activities as well. Government is another factors influence in the demand. Mostly government makes some changes and update in the country ongoing g process. Sometime country government directly influence in demand. Introduce new tariff, Tax holidays, newly product imports, increase or decrease Tax Government awareness programs, provide market ideas to citizen, political inflexible, Government budget deficit and etc. The above government intervention makes the changes in the demand and Government can make every changes so this is the more risky and powerful factors in demand changes Government system and procedures changes are another impact of the globalization. System and procedures changes inform that culture of the organization is different from the others. When government every small changes will makes the system also to be change. Simply government system and procedures are depending in country policy and economy scale., changes in government procedures, include new system, reporting power change, authority structure change, new people arrivals and economy interest rate, inflation rate are the major changes occurs after influence government drivers of globalization. Competitive drivers Every sector face the problem of competition, many academic people argued that the competition is the best sign for the healthy marketing. Today business is customer based business and the customers are king. Organization avoid the customer needs mean that is the major risk to the company. Globalization strategy is the better strategy to faced the competition challenges, Organization faced many problems in the internal and external factors, every organization provide the close competition to the product and service, then the organization need to up-date the product and service, makes the innovation services are more important to the organization, then the organization expand its service and range by day to day and that makes the globalization into more effective and essentials. Advantages and disadvantages of globalization Many years and decades that the above concept under the debates, because the organization and country were received the mixed results on globalization. Many development countries received the positive result from globalizations and developing countries failed to receive the positive result. There are many impacts that occurred from the globalization as follows, Globalization has positive side and negative side to both country and business as well. Specially economy that describes that income level increase, GDP and GNP level increase, market expansion, technology development, innovation and creativity activities, market trend increase, global standard products, quality of the product and service, and etc. But other side of the globalization that describes that country loss their own nature, and cultural impact, increase the poverty, market and resources are highly consumed, environmental impacts, social and individual attitude changes, and etc Advantages of globalization International Trade Today international trade and achieve the better market position are the main concern of international trade. International trade has become wider its possibility with the help of business process outsourcing, purchase and sale of product and service are not the only two transactions involved in international trade. International trade reduce the border of nation to nation and that makes the economy into more strength, specially international business process as well import and export are became huge growth, that impact to income per person and process. GDP and GNP increase is the another milestone advantage to the country and net profit increase, gross profit and profit margin increases are another favourable aspects in the globalization, when international market reduce the tariff, release the tax and other government intervention, then many investors interest to increase the investment in the market. Higher Sales Once product, service or company gets on the radar screen of scenario, it increases chances that consumers will make a purchase. As knowledge becomes a truth, it is also the point where new customers start to extend the word, telling friends and family about this remarkable new product they exposed. Sales will steadily increase as spreads. Without employing marketing strategies, these sales may not have ever happened Healthy Competition Marketing also foster an environment in the marketplace for strong completion. Marketing hard work get the word out on pricing of products and services, this not only reaches the future consumers, but also reaches other companies competing for the consumers’ business. As opposed to companies that have a control on products and services that can blame almost any price, marketing helps keep pricing competitive for a business to try to win over consumers before its competition does. Without competition, well known companies would continue to sell while lesser known companies or new companies would situate little possibility of ever becoming successful. Marketing facilitates the healthy competition that allows small businesses and new businesses to be successful enter and grow in the marketplace Innovation and Intellectual Property The strength of enterprise is able to be seen across the victory stories that characterize many of businesses. The will to be successful even with the chances is what drive to grow businesses from position up, globalization makes the business into more effective and makes the human resource into more effective, that makes the creativity thoughts and innovation. Other favourable advantages of globalization as follows, Channel Execution system and implementation of recognized social media channels (Face book, Twitter, YouTube, Google+, Foursquare, YouTube, LinkedIn, Interest and more). Strategy Implementation put into practice and personalizes your social marketing tactic including designing, building and executing social media tactics. Campaign activities generate designs and a satisfied marketing strategy that correspond with a specific campaign or promotional materials. Online Reputation Management make the most of proactive discussion monitoring to assist brands to listen, understand and connect in conversations in social media. Blogger Relations Conduct blogger outreach campaigns to influence the influencers and boost the reach of your messaging. Event Integration integrate social media into events, shows, and conference to increase alertness, word of mouth marketing and contribution Communication Communication and telecommunication development makes the organization process into effective. Today globalization makes the process and procedures into effective. Information technology has played a vital role in bringing the countries closer in terms of communication every single information is easily accessible from almost every corner of the world. The Internet has significantly affected the global economy, thereby providing direct access to information and products. Disadvantages of globalization Loss of Culture Every nation they have separate culture, and that recognize the country, After the globalization not impact on economy but also impact on culture, then that makes negative impact, and another economy cultures that directly influence on local country culture, and economy.. With large number of people migrate into and out of a country. They tend to follow the foreign culture more, forgetting their own roots. This can give rise to cultural conflicts. Monopoly Monopoly is a situation where in only one seller has a say in a particular product or products. It is possible that when a product is the leader in its field, the company may begin to exploit the consumers; the leader takes full advantage of the sale of its product, which may later lead to illegal and unethical practices being followed. Monopoly is disastrous as it widens the gap between the developed and developing countries. Environmental issues Every organization that entered to another economy and operate the business in different countries, then the globalization moves the capital into one place to another place then the organization starts the large investment, then the country or organization mislead the resources, that makes the process into defective. Monopoly Monopoly is a situation where in only one seller has a say in a particular product or products. It is possible that when a product is the leader in its field, the company may begin to exploit the consumers. As there exists no close competitors, the leader takes full advantage of the sale of its product, which may later lead to illegal and unethical practices being followed. Monopoly is disastrous as it widens the gap between the developed and developing countries. Developed countries can suppress development of undeveloped and under-developed countries, then the development countries uses the developing countries for only resource requirement, then the organization or developing countries are not interest in the globalization Economic depression in one country can trigger adverse reaction across the globe. It can increase spread of communicable diseases. Companies face much greater competition. This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale.

Chemestry Assessed Practical :: Papers

Chemestry Assessed Practical Variables: The variables for this practical are: 1. The metal that it used- magnesium, copper or iron. 2. The amount of metal that is used- any amount as long as it is divisible by 0.5 grams. 3. The concentration of the solution of the solution- molarity 0.1M or 0.5M. I am going to change the amount of metal. Fair Test: To make this a fair test I must keep everything constant except the variable (the amount of metal). But even the variable must be changed at a consistent rate (going up in 0.5g). Method Apparatus List:  · Copper Sulfate solution (0.5M).  · Powdered magnesium (15g in total).  · 2x Beaker.  · Measuring cylinder.  · Safety goggles. Measurements: I am going to use 50cm ³ of copper sulfate and then us the following measurements of powdered magnesium 0.5g, 1.0g, 1.5g, 2.0g, and 2.5g. =================================================================== Safety: I will wear safety goggles throughout the experiment, I will be careful when I pour the solution and when I am shaking it I will shake it gently. Equations: [IMAGE]Magnesium + Copper Magnesium + Copper Sulfate Sulfate [IMAGE]Mg + CuSO4 MgSO4 + Cu Method: I will measure out 50cm ³ of copper sulfate solution (0.5M) in a measuring cylinder then add it to a polystyrene cup, as polystyrene is a bad conductor of heat. Before I add the magnesium I will wait until the copper sulfate solution is at a consistent temperature and take and record the start temperature. I will then add the desired amount of magnesium (as it already weighed out for me) to the copper sulfate solution. I will observe what happens and measure the temperature change from the start to 1 minute and to 2 minutes. I will repeat this twice and then work out an average temperature change for each separate amount of powdered magnesium. If I get a result that is completely different to the other one then I will record this as a Chemestry Assessed Practical :: Papers Chemestry Assessed Practical Variables: The variables for this practical are: 1. The metal that it used- magnesium, copper or iron. 2. The amount of metal that is used- any amount as long as it is divisible by 0.5 grams. 3. The concentration of the solution of the solution- molarity 0.1M or 0.5M. I am going to change the amount of metal. Fair Test: To make this a fair test I must keep everything constant except the variable (the amount of metal). But even the variable must be changed at a consistent rate (going up in 0.5g). Method Apparatus List:  · Copper Sulfate solution (0.5M).  · Powdered magnesium (15g in total).  · 2x Beaker.  · Measuring cylinder.  · Safety goggles. Measurements: I am going to use 50cm ³ of copper sulfate and then us the following measurements of powdered magnesium 0.5g, 1.0g, 1.5g, 2.0g, and 2.5g. =================================================================== Safety: I will wear safety goggles throughout the experiment, I will be careful when I pour the solution and when I am shaking it I will shake it gently. Equations: [IMAGE]Magnesium + Copper Magnesium + Copper Sulfate Sulfate [IMAGE]Mg + CuSO4 MgSO4 + Cu Method: I will measure out 50cm ³ of copper sulfate solution (0.5M) in a measuring cylinder then add it to a polystyrene cup, as polystyrene is a bad conductor of heat. Before I add the magnesium I will wait until the copper sulfate solution is at a consistent temperature and take and record the start temperature. I will then add the desired amount of magnesium (as it already weighed out for me) to the copper sulfate solution. I will observe what happens and measure the temperature change from the start to 1 minute and to 2 minutes. I will repeat this twice and then work out an average temperature change for each separate amount of powdered magnesium. If I get a result that is completely different to the other one then I will record this as a

Humanity Survey Analysis Paper

The true answer lies within the actions of the beings of this world. In order to fully determine the answer of the question, one must observe each person's opinion of mankind's characteristic and behavior individually. In this essay, I will be explaining and accentuating the details on people's personal opinions on mankind's behavior and the decorum of humanities interests. In order to achieve desired data, I have conducted a survey interviewing 35 individuals with three questions; Is man essentially indifferent to the suffering of others, or no? Are humans â€Å"sheep† who allow others, or do we follow our own path in life?Are humans basically selfish and selfless? Data showed that out of 35 individuals, 54. 3% of participants state that man is not indifferent, 76. 47% saying that humans are sheep and roughly 88. 5% stating that man is selfish and gloriousness. Judging by the results, you can conclude that most people say that man is selfish and sheepskin people but is not in different. Therefore, the sun. ‘eye shows that peoples opinions are optimistic, but not to the point where survival of the fittest is kicked, to the part here 31 individuals have agreed to the selfish criteria.In this world, I believe there are two types of people: sheep or the wolf. Being the sheep, as said so in the survey, is when people follow the footsteps of others only to achieve similar goals that do not have meaning. Being the wolf is where people separate from the pack and venture off on their path which ultimately leads to loneliness. Coming from a family full Of medical majors, doctors and dentists, I sought to be the wolf of the world where I can become a part of something great. For years, eave dreamt of changing the world by giving what it sorely needs to survive, energy.In the future, I want to be the one who develops clean energy for the world. Therefore, believe that mankind is indifferent and selfish in their own ways, I individually speaking. Many people ha ve stated that humanity is cruel or selfless, indifferent or heedful. Humanity has been called many things due to its lack of consideration or crudeness such as global warming, war, animal cruelty, or domestic violence. But are we so buried deep inside our flaws that we cannot fathom that fact we can do better to change ourselves?Or are we too adamant to face reality where people are using Darning's theory of survival of the fittest keep their place in this world conquered by feudal society? History has shown us dynamic social and industrial revolutions and world wars, showing man's capability of destroying itself over a piece of land or some border skirmish half/ay around the world, TO ensure selflessness and to pave our pathway towards success, we must act immediately on our behalf to lead better lives, so we can thrive as a whole. It would not only change ourselves individually, but will the change the world forever.

Laissez-faire: Supply and Demand and Demand Curve

TASK 1 Laissez-faire Laissez-faire is an economic environment in which transaction between private parties are free from tariffs, government subsidies, and enforced monopolies, with only enough government regulation sufficient to protect property rights against theft and aggression. The phrase laissez-faire is French and literally means â€Å"let them do†. But it broadly implies â€Å"let it be†, or â€Å"leave it alone†. A laissez-faire state and completely free market has never existed, though the degree of government regulation varies considerably. The basic characteristics of Laissez-faire economic systemFree competition The main body of the economic operation is for a large number of small private enterprises. Production and management strategies are made by private capitalists according to changing in market supply and demand. Private capitalists are free to participate or exit the economic activity of any of industries. The form of price is spontaneous in market. It shows the change of supply and demand, it can distribute the scarce resources to producers, and also distributes goods and services to consumers. Consumer rights Consumers are the main part of economic operation.Consumer rights show: private capitalists must be base on and consider the preferences of consumers in the coordination of production and management strategies. According to consumers in the market, the number of monetary voting (consumers use their own money to purchase their favorite products, it is also another form of voting), and understand the social consumption trends. Thus distributes human and material resources, financial resources, production and meet consumers demand to achieve the purpose of maximum profit. Consumers are the guidance of economic activity through the function of preference for certain goods and services.Protecting of government Laissez-faire economic activities and resource allocation by the market mechanism to promote, the country or the government's economic functions are restricted to the protection of free competition, protection of private property, set up some necessary public utilities and public facilities. The components are absence to function an idealized free market. The problems mainly in the following aspects: 1. The competition between enterprises is limited, and some may be a monopoly industries. In these cases, they will push up prices, up profits. 2.The lack of competition to promote efficient and profitable company†¦ 3. Power and wealth may not equal distribution. 4. Some of the company's behavior is harmful to the society. 5. Private enterprise will not produce some of the whole society to their own advantage but without the product. 6. The free market economy could lead to macroeconomic instability, may appear high unemployment and production of the decline of the recession and rising prices. TASK 2 Government intervention in the market can be used to achieve various economic objectives which may not be best achieved by the market.There are several policy instruments that the government can use. At one extreme, it can totally replace the market by providing goods and services itself. At the other extreme, it can merely seek to persuade producers, consumers or workers to act differently. Between the two extremes the government has a number of instruments, it can use to change the way of markets operating. These include taxes, subsidies, laws and regulatory bodies. Taxes and subsidies When there are imperfections in the market, social efficiency will not be achieved. Marginal social benefit will not equal marginal social cost.A different level of output would be more desirable. Taxes and subsidies can be used to correct these imperfections. Essentially the approach is to tax those goods or activities where the market produces too much, and subsidies those where the market produces too little. Taxes and subsidies correct externalities. Government imposes a tax equal to the marginal external cost, grant a subsidy equal to the marginal external benefit. Taxes and subsidies are to correct for monopoly. If the problem of monopoly that the government wishes to tackle is that of excessive profit, it can impose a lump-sum tax on the monopolist.A tax of a fixed absolute amount irrespective of how much the monopolist produces, or the price it charges. Advantages of taxes and subsidies It forces firms to take on board the full social costs and benefits of their actions. It is also adjustable according to the magnitude of the problem. What is more, by taxing firms for polluting, firms are encouraged to find cleaner ways of producing. Disadvantages of taxes and subsidies Infeasible use different tax and subsidy rates. Lack of knowledge. Laws prohibiting or regulating undesirable structures or behavior Laws are frequently used to correct market imperfections.Laws can be of those main types: those that prohibit or regulate behavior that imposes external cost s, those that prevent firms providing false or misleading information, and those that prevent or regulate monopolies and oligopolies. Advantages of legal restrictions When the danger is very great, it might be much safer to ban various practices altogether rather than to rely on taxes or on individuals attempting to assert their property rights through the civil courts. Disadvantages of legal restrictions The main problem is that restrictions tend to be a rather blunt weapon.Regulatory bodies Rather than using the blunt weapon of general legislation to ban or restrict various activities, a more â€Å"subtle† approach can be adopted. This involves the use of various regulatory bodies. Having identified possible cases where action might be required, the regulatory body would probably conduct an investigation and then prepare a report containing its findings and recommendations. It might also have the power to enforce its decisions. The advantage of such bodies is that a case-by -case approach can be adopted and, as a result, the most appropriate solution adopted.However, investigations may be expensive and time consuming only a few cases may be examined, and offending firms may make various promises of good behavior which may not in fact be carried out owing to a lack of follow-up by the regulatory body. Price controls Price controls can be used either to raise prices above, or to reduce them below, the free-market level. Prices could be raised above the market equilibrium to support the incomes of certain supplier. Prices could be lowered in order to protect consumer’s interests. The direct provision of goods and servicesSocial justice, society may feel that these things should not be provided according to ability to pay. Rather they should be provided of right: an equal right based on need. Large positive externalities, people other than the consumer may benefit substantially. TASK 3 To avoid fluctuation of inflation, the related policies of gover nment are monetary policy, Fixed exchange rates, Gold standard, Wage and price controls, cost of living allowance. Monetary policy Central banks must be keeping their inter-lending rates at low levels. To target rate is around 2%-6% per year.Government can avoid inflation through setting interest rates. High interest rates and slow growth of the money supply are the traditional ways, central banks prevent inflation. Keeping the growth rate of money steadily, and using monetary policy to control it, increasing interest rate, slowing the rise in money supply. Encourage people to put money in the bank. To reduce the number of money circulation. According to Keynesian, reduces aggregate demand when the economic is expanding, and increases demand to keep inflation stable. Increase taxes or reduce government spending.Fixed exchange rates Under fixed exchange rates, a country's currency is tied in value to another single currency. This essentially means the inflation rate in the fixed exch ange rate country is determined by inflation rate of country. Fixed exchange rate prevents a government from using domestic monetary policy in order to keep economic stable. Gold standard The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set, fixed quantities of gold.The standard specifies how the gold backing would be implemented, including the amount of specie per currency unit. The gold standard was partially abandoned via the international adoption of the Bretton Woods System. Under this system all other major currencies were tied at fixed rates to the dollar, which itself was tied to gold at the rate of $35 per ounce. In the gold standard system, the internal value of currencies and external value in general is consistent, currency exchange between is stable and the exchange rate also have relatively solid foundation.Wage and price control Wage and price control is also called Income policy, Income policy mainly is to take wage price management policy, in order to prevent trade unions and the two groups monopoly enterprises still each other caused by the wages, prices take turns to the rising trend. Its purpose is to tries to control inflation and not lead to increased unemployment. Incomes policy based on the theory of main is pushed by cost inflation, because cost inflation is pushed by because of the rising cost of supply, especially wage increase, thus cause the price level to rise.Therefore, we must take inhibits the incomes policy, the form has the following kinds: sure wage-prices will, in order to limit wages-prices to rise. Base on compulsory measures, impose income tax policy. Cost of living allowance Keep the general level of commodity prices steady, strict control prices, the incomes of the workers and living allowance, reduce the cost of their life, so as to control income and the increased cost of products. The relationship between inflation and e mployment Demand-pull inflation When aggregate demand exceeds aggregate supply, will cause the general price level continued to rise.From Philips curve, we can understand that, when aggregate demand is greater than aggregate supply, in order to meet aggregate demand in the short term, we can increase aggregate output to provide more employment. TASK 4 Supply –Demand curve Supply Supply is to point to a producers in other conditions remain unchanged, at one time, ability and willingness to for a price to market with the amount of products. A supply schedule is a table that shows the relationship between the price of a good and the quantity supplied. A supply curve is a graph that illustrates that relationship.The supply curve is supply table and supply the visualization expression, and demand form or demand function of handing over the equilibrium, is used to represent the market producers and demanders can constitute a trade goods quantity and price. The supply curve can with â€Å"curve† appeared, also can use the â€Å"straight† form. In theory, meet the supply curve only supply theorem can be tilted to the upper right. The determinants of supply follow: 1. Production costs, how much a good costs to be produced 2. Technology used in production, and/or technological advances 3. The price of related goods . Firms' expectations about future prices 5. Number of suppliers Demand Demand is to point to a consumer in other conditions remain unchanged, within certain time, ability and willingness to buy in a given price of the product quantity. The demand curve is demand form and demand function expression of visualization, and supply table or transfer the equilibrium of supply function, which is used to represent the market producers and demanders can constitute a trade goods quantity and price. The demand curve can with â€Å"curve† appeared, also can use the â€Å"straight† form.In theory, can meet the requirement of the demand c urve can only theorem is right to tilt, so Veblen Goods and Giffen Goods are general demand curve is not those from left to right leaning items. The determinants of demand follow: 1. Income 2. Tastes and preferences 3. Prices of related goods and services 4. Consumers' expectations about future prices and incomes 5. Number of potential consumers Equilibrium Equilibrium is about the price-quantity curve, it means the quantity of supply is equal to the quantity of demand.In the market, when the price is given, the quantity of products that consumers demand is balanced by the quantity of products that producers supply. Demand curve shifts At each price point, greater quantity is demanded, the curve from D1 to D2, at the same time, the equilibrium price from P1 to P2, and the equilibrium quantity from Q1 to Q2. There is an increase in demand which has caused an increase in quantity. The increase can also come from changing tastes and incomes, price changes in complementary and substitut e goods, market expectation, and number of consumers.If the demand decreases, the situation is opposite, the demand D2 down to D1, the equilibrium price decreases, and the equilibrium quantity also decreases. The quantity supplied at each price is the same as before the demand shift, reflecting the fact that the supply curve has not shifted; but the equilibrium quantity and price are different as a result of the change in demand. Supply curve shifts When the supply of a product decreases, curve from S1 to S2, it makes the equilibrium price decreases from P1 to P2, but the equilibrium quantity increases from Q1 to Q2.If the quantity of supply decreases, the curve will from S2 to S1. The equilibrium price will increase and the equilibrium quantity will decrease as consumers move along the demand curve to the new higher price and associated lower quantity demanded. Partial equilibrium Partial equilibrium as the name suggests takes into consideration only a part of the market, ceteris p aribus to attain equilibrium. Partial equilibrium is based on a limited range of data, a standard example is the price of a single product, all other prices of the products in a fixed analysis.The supply and demand model is a local equilibrium model of economic balance, clear the market prices of the goods and some specific number won independence in other markets. In other words, the prices of all the alternative and complementary, and income level of consumer is constant. Partial equilibrium analysis testing these policy actions in the influence of creating balance in the industry or market only specific directly affected, ignore its effect in any other market or industry that they were small almost no influence. AD-AS model (Long-term equilibrium)AS is long-term total supply curve, it and potential output line entirely coincidence, when the total demand curve to AD, total demand curve and long-term total supply curve intersection of the decision's production for Y E, price level for P. When the total demand increased total demand curve from AD move up to the AD, total demand curve and long-term total supply curve intersection of the decision's production for Y E, price level for P, because Y = Y = Y *, so in the long run of total demand is growing only raised the price level, and won't change the production or income. TASK 5 Market Demand for Coffee Form of D0 Price| 1. | 0. 75| 0. 5| 0. 25| Quantity| 9| 11| 12| 14| Form of D1 (Price same as D0) Price| 1. 5| 0. 75| 0. 5| 0. 25| Quantity| 7| 8| 9| 10| Form of D1 (Quantity same as D0) Price| 0. 5| 0. 2| 0. 1| 0. 05| Quantity| 9| 11| 12| 14| If we define D0 is the initial demand curve. When demand decreases, D0 will leftward to D1. We can understand from above form, when D1 same as D0 in price, quantity of D1 is decreased; when D1 same as D0 in quantity, price of D1 is decreased. So the equlibrium of D1 is also decreased. ( the quantity and the price are decreased at the same time) Form of D2 (Price same as D0 ) Price| 1. 5| 0. 75| 0. 5| 0. 25|Quantity| 11| 13| 15| 17| Form of D2 (Quantity same as D0) Price| 3| 1. 5| 1| 0. 75| Quantity| 9| 11| 12| 14| If we define D0 is the initial demand curve. When demand increases, D0 will rightward to D2. We can understand from above form, when D2 same as D0 in price, quantity of D2 is increased; when D2 same as D0 in quantity, price of D2 is increased. So the equilibrium of D2 is also increased. (the quantity and the price are increased at the same time) Factors that affect the demand for coffee Consumer income. Generally speaking, in other conditions of constant, the higher the income of consumers, the more demand for commodities.So the quantity of coffee high income consumer demand is more than the quantity of coffee low income consumer demand. Consumer preferences. When consumers of some goods of preference increased, the demand for the goods number will increase. Instead, when of preference abate, demand will reduce the number. So the quantity of coffee demand that people like coffee is more than the quantity of coffee demand that people don’t like coffee. The price of related products. When the price of a commodity itself is fixed, but and it related to other commodity price change, this kind of goods is the number needs will also be changing. o a commodity demand and alternatives to price but change, namely substitutes the increase in the price of the commodities will cause the increase of demand, the price will reduce substitute caused the reduction of the demand for commodities. Reference of assignment Begg. D. and Ward. D. (2003) Economics for business. Boston: McGraw-Hill Economics for business. Press: FT Finance Abel, Andrew; Bernanke, Ben (2005). Macroeconomics (5th ed. ). Pearson Websites: http://www. conservapedia. com http://en. wikipedia. org