Healthy Public Policy And Environment - 3087 Words

INTRODUCTION: In the current fast paced lifestyle, it is important to create health awareness among people in order to improve the overall well being and health of the community. As per O’Donnell (2009), Health Promotion can be defined as â€Å"the art and science of directing people to establish the synergies between their lifestyle and their health, enhancing their motivation and supports people to change their lifestyle to strive for an optimal health, thus increasing the overall well being at community and national level†. Optimal health can be described as a harmonious blend of spiritual, emotional, physical, social and intellectual health(O’ Donnell,2009).Health status is beyond the control of a individual, thereby, the focus of improving health is diverted to the role of health public policy and environment. Healthy public policy plays an important role in fabricating supportive environments to aid people to lead a healthy lifestyle. The central goal of this policy in c ollaboration with WHO has been on health promotion (Tones Green, 2004).Health promotion is a result of three factors 1) effectiveness of initiative 2) penetration of initiative into community 3) sustainability of the initiative. Health promotion initiative focuses to improve public health by modifying the risk factors (Hawe, Noort, King Jordens, 1997). BACKGROUND The importance of health promotion and health education is rising because of the proved research that most of the health issues are relatedShow MoreRelatedPolicy Priority Issue : The Childhood Obesity Essay1614 Words   |  7 PagesPolicy priority issue: The childhood obesity Childhood obesity is one of the major public health challenges of the 21st century. The prevalence of obesity is increasing globally. In 2013, the number of overweight children under the age of five was estimated over 42 million. Childhood obesity can cause premature death and disability in adulthood. 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The Dichotomy Over Civilian Gun Control - 1256 Words

Junie Kim AP Capstone Seminar Lewandowski 30 November 2015 Individual Research Report For decades, the United States has been split by a dichotomy over civilian gun control. â€Å"Gun control is the term used to describe how firearms may be legally produced, sold, and used,† (Gale). As stated in the Second Amendment of the U.S. Constitution, â€Å"‘A well regulated militia, being necessary to the security of a free State, the right of the people to keep and bear arms, shall not be infringed,† (Gottesman/Brown). However, â€Å"research seems to indicate that owning a gun or even just seeing one [can] change how people behave,† (Striepe). Studies have shown that weapons negatively affect the individual’s psychological processes. Actions of aggression or agitation have been shown to increase during experimental situations in which guns are in view of the subject. The purpose of this project was to determine the extent of how ownership of guns and other weapons could create conflict, and to propose a solution t o minimize these consequences. By studying how weapons can affect humans intrinsically and psychologically by slowly changing behaviors and beliefs over time, insight can be gained on the true dangers of gun ownership. This scientific approach also provided a look at the deeper consequences of civilian weapon control, allowing for further refinement in the creation of a solution to reverse the effects of gun control in the future. In 1967, Leonard Berkowitz and Anthony LePageShow MoreRelatedThe Niger Delta Struggles: Its Implications for Resource Control.17990 Words   |  72 PagesTOPIC: THE NIGER DELTA STRUGGLES: ITS IMPLICATIONS FOR RESOURCE CONTROL. A HISTORICAL OVERVIEW OF THE STUDY The Niger Delta region, Nigeria s oil belt has been the site of a generalized ethnic and regional struggle for self-determination since 1998, the location of often-violent confrontations between local ethnic communities and agents of the Nigerian state and oil companies involved in the extraction and exploitation of oil in the area. What began as community agitationRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesdeploy to demarcate historical epochs, the twentieth century does not appear to be a very coherent unit. The beginnings and ends of what we choose to call centuries are almost invariably years of little significance. But there is little agreement over when the twentieth century c.e. arrived, and there were several points both before the year 2000 (the collapse of the Soviet Union, the reunification of Germany, the surge of globalization from the mid-1990s) and afterward (9/11, or the globalRead MoreEssay about Phd Comprehensive Exam. in Leadership15004 Words   |  61 Pagesqualitative and quantitative research methods. There seems to be almost universal agreement as to the epistemological and theoretical roots of each methodology. There is however, substantial disagreement as to the appropriateness of one methodology over the other. â€Å"The researcher’s view of reality is the cornerstone to all other assumptions, that is, what is assumed here predicates the researcher’s other assumptions† (Holden Lynch, 2004). Both quantitative and qualitative methodologicalRead MoreLibrary Management204752 Words   |  820 Pages. . . 168 Delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169 Centralization and Decentralization . . . . . . . . . . . . . . . 170 Unity of Command . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 Span of Control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 Line and Staff Positions . . . . . . . . . . . . . . . . . . . . . . . . 174 Coordination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 Coordinating Mechanisms Read MoreFundamentals of Hrm263904 Words   |  1056 PagesOrganization 199 Evaluating Training and Development Effectiveness 199 Evaluating Training 199 Performance-Based Evaluat ion Measures 200 Post-Training Performance Method 200 Pre-Post-Training Performance Method 201 Pre-Post-Training Performance with Control Group Method 201 International Training and Development Issues 201 Cross-Cultural Training 201 Development 202 Summary 203 Demonstrating Comprehension: Questions for Review 203 Key Terms 204 205 HRM Workshop Linking Concepts to Practice: Discussion

Auditing and Assurance Global Environmental Politics

Question: Discuss about the Auditing and Assurance for Global Environmental Politics. Answer: Introduction: A business runs under shadow of immense competition, as well as complex scenario. This leads to exposure of the business to various risks. An inherent risk is one that exists in the system due to the nature of business reporting or various forms of regulations. However, such risks cannot be tame by internal control techniques or the presence of an auditor. When the business expands its function, product and selects the process of diversification then the business get expose to the risk that is inherent in nature. The risk evaluation process of the business contains external, as well as environmental factors, misstatements that have occurred, ethical problems like theft or fraud, improper transactions or certain transactions that needs huge estimates of the management (Manoharan, 2011). However, as the business progress, various risks indicated by the management and traced at an earlier level. This depends on the line of action and other factors like measurement and control. The evalu ation of the business happens in two major ways like the micro, as well as macro factors that needs to be taken into consideration from the point of entry till the time revenue is collected, taxes are paid, profits are distributed, etc (Fernando, 2009). Therefore, the internal control at each level considered under the evaluation of business risk and this leads to tracing of the weak points. However, there is a general tendency that the tracing of any fraud or misstatement is not discovering until it takes a huge form. The accounts department tends to ignore the mistakes that have small mistakes and leads to a path of inherent risks. For this purpose, the internal, as well as external audit is need to be present so that any weak area can be traced with ease and flexibility. The presence of mistakes in smaller chunks leads to a grave mistake. In the case of One Tel, gross mismanagement happened and the ignorance of the department of accounts that is present from lower level manager t o the Finance director. Innumerable factors like the inappropriate terms and conditions, weak management, ineffective diligence, absence of independence of the Executives and auditors led the downfall of OneTel. The business did not take serious steps when it comes to assessment of risk. The Founder, as well as the Managing Director found to making claims that were untrue and fabricated. It portrayed that the business was making strong profits and had surplus but it was altogether a different scenario. As the evaluation of the risk of the business could not be done in an effective manner, it became difficult and complex to uncover the risks that are inherent in nature. If the process were strong then the window dressing can be easily trace. However, the unearthing of the problem happen a common scenario when a grave situation happens. Assembling all these pitfalls, OneTel suffered a huge blow and was unable to operate further. The factors of inherent risk arises directly from the improper attention provided by the management in respect of the ageing debtors, as well as creditors, cheques un cleared, trial balance, as well as other statements. Failure in this respect leads to account balance that is inaccurate in nature. The main changes in the accounting policy by OneTel even enhanced the time for existence, as well as establishment of inherent risks that are unique. Repeatedly, the accounting policies were change that made the entire process complex in nature and hence, ascertaining the account balance became difficult, leading to more risk (Kruger, 2009). Accounting policies should be regular and continuous because it leads to better presentation and helps in providing relevant facts that can be understood by the related parties. Initially the company followed a policy of not accounting for intangibles and further changed it considering the expenses that are defer in nature. Hence, a change in a short sp an of time shakes the foundation and does not go well with the situation. It projects the shortcomings and leads to complexity in terms of understanding. The irregularity in the process of financial reporting tends to question the balances shown by the account and the new auditors question those (Ernst Young), they issued a qualified opinion. However, the previous auditor issues an opinion that unqualified and it covered all the companys malpractices. As per the submission of financial statements to ASIC, projected imbalance in a number of account balances and hence, innumerable expenditures were exposed and losses that were concealed in nature. Hence, the irregularity and ignorance projected by the management led to inherent risk and this occurred due to the accounting mistakes (Heeler, 2009). If the management does not reveal the actual figure, it leads to suppression of relevant facts and ultimately the investors are duped that will not help the community of the shareholders. The main cause that can be attributing to the failure is the ignorance toward s accounts, as the company was involved in marketing, as well as growth. The proper reporting process that pertains to each accounting entry generates the account balance accuracy. This process was disturbed due to mismanagement, as well as internal control mechanism that are weak in nature. Moreover, practices of fraudulent accounting led to inherent risk and the company faced a severe blow (Goodstein, 2011). Therefore, it is imperative from the discussion that the reporting process must be free from any flaws otherwise; it enhances the inherent risk and ultimately leads to downfall. Moreover, the auditor should be strong occupied with the relevant tools and techniques to trace any mistake and should provide an independent decision. The auditors at OneTel failed to carry on their obligation and hence, the entire system became complex in nature (Cook, 2001). The assumption of going concern is the main reason that the organization will continue in the near future and there remains no reason for the wind up. As per the evaluation of the balance sheet, it is evident that that there is a strong increment in the current, as well as non-current assets and liabilities. However, it is a point of ponder that the share capital of the company has increased while the profits has fallen immensely that is not a good indicator. Falling profit does not signify a strong momentum and the stakeholders are always interested in the profit earning capacity of the company (Goodstein, 2011). The losses that accumulated in the previous year stands over 200% in contrast to the last year figure. The income statement is projected that shows the EBIDT in negative numbers. It is clear from this that the loss enhanced in big numbers as the expenses in strong numbers was debit to the profit and loss account. It signifies that the company has two options: either to enha nce the revenues or reduce the debts to wipe of the losses (Cook, 2001). However, the size of the loss stands in huge numbers and it is difficult to get it cleared in one or two pears. This needs the attention and hard work of the management to bail the company out of danger. However, the challenge lies ahead because there are many limitations. The flaws of the company are exposed and even reporting is done by the agencies. It came to the forefront that the Finance Director has failed to authenticate the books, trial balance, journals, ledgers, etc. Moreover, it was a deficiency on the part of the management because the executives failed to perform their duties. There was a big loophole in terms of ageing report of the debtor, listing of cheques, etc. which were left ignored and this led to a severe crisis. Moreover, the entire management performed in a poor manner that weakened every department. If the company continue to operate in such a fashion then it will create a big gulf bet ween profit and loss where the loss figures will stand severe. Such happening will shake the solidity of the company and will create a negative impact on the functioning and deteriorate the goodwill (Kaplan, 2011). Therefore, the concept of going concern is at severe risk and considering the overall scenario, it can be said that financial mismanagement, weak system of internal control and weak financial scenario of the company will affect the going concern concept (Brown et. al, 2006). It should be evaluated quickly. The going concern concept state that the company will run for an indefinite period. However, the company can bear all such situation until a limit. If the company continue to operate in losses and accumulate big losses then it will be difficult to run the company as sources of funds is block and financial mismanagement will bound to occur. A company can perform when the funds move back and forth and the operation are carried on with ease and flexibility. However, once t he crisis strike it will be difficult for the company to operate in such a scenario. Hence, the company needs to strike on this concept and remove the irregularities so that the company does not wind up. References Brown, J.W., Chasek, P. Downie, D.L 2006, Global Environmental Politics, Boulder, CO:Westview Press. Cook, T 2001, Collapse of Australia's fourth largest telco adds to growing list of corporate failures viewed 12 September 2016, https://www.wsws.org/en/articles/2001/06/onte-j08.html Fernando, A C 2009, Corporate Governance Policies and Principles, Prentice Hall. Goodstein, E 2011, Ethics and Economics, Economics and the Environment, Wiley Heeler, D 2009, Audit Principles, Risk Assessment Effective Reporting, Pearson Press Kaplan, R.S., 2011, Accounting scholarship that advances professional knowledge and practice, The Accounting Review, vol. 86, no. 2, pp. 367383. Kruger, C 2009, Numbers finally start to add up as operators go back to basics, viewed 13 September 2016, https://www.smh.com.au/business/numbers-finally-start-to-add-up-as-operators-go-back-to-basics-20110121-19zy6.html Kruger, P., 2015, Corporate goodness and shareholder wealth, Journal of Financial economics, pp. 304-329 Manoharan, T.N., 2011, Financial Statement Fraud and Corporate Governance, The George Washington University.

A Brief Note On Othello s Tragic Flaw Essay Example For Students

A Brief Note On Othello s Tragic Flaw Essay Titile: Othello’s tragic flaw Jealousy is a neurotic flaw in the everyday lives of a human being. This tragic flaw can turn people from foes to enemies in a mater of seconds by either manipulation, or even just saying the right thing at the right time, that is able to break through someones emotional barricade. This unfortunate trait is always followed with anger no matter what the circumstance. For example, in the bible jealousy over comes Cain, Adam and Eve’s first born son, when him and his brother Able give offerings to Lord. â€Å"In the course of time Cain brought some of the fruits of the soil as an offering to the Lord.   And Abel also brought an offering—fat portions from some of the firstborn of his flock. The Lord looked with favor on Abel and his offering,   but on Cain and his offering he did not look with favor. So Cain was very angry, and his face was downcast† (Genesis 4: 3-5). To Cain the Lords unfair comparison of his brother drives him mad leading him to lose control of his emotions causing him to murder his brother out of jealousy.  Ã¢â‚¬Å"Now Cain said to his brother Abel, â€Å"Let’s go out to the field.† While they were in the field, Cain attacked his brother Abel and killed him† (Genesis 4:8). In the Lords eyes Cain’s jealousy was a flaw that drove him away from his loyalty and caused him to kill his beloved brother. No matter who you are jealousy is always a substantial flaw that can blind you from seeing the truth and can always lead to a horrific ending once the anger takes over. In the Shakespearian tragedy â€Å"Othello† jealousy overcomes many of the characters which affects Othello and causes him to kill Desdamona, it drives Iago to manipulate Othello by telling him lies about his peers, and it also blinds Othel. .also helps explain how in the end if you keep returning the favor of violence it will never go away only to cause more harm in the end. In the end we see that jealousy the tragic flaw of this shakespearean tragedy is more overwhelming and misleading then we could of ever thought. This trait is used against the Moore which leads him to kill his beloved wife Desdemona at the end of the play. Jealousy also drives Iago in his scheme to get payback on Cassio for taking the lieutenant position which leads to him manipulating Othello to not trust his friend. Also this harmful trait blinds Othello from being able to see the truth which is covered by his blindness to believe the truth that Iago has done so well to hide. In the end we see that Othello s tragic flaw of jealousy really affects the outcome of the play and how we see jealousy as the true villain of the play.

Health Care Reform Essay Research Paper 915Due free essay sample

Health Care Reform Essay, Research Paper 9:15 Due to the approaching presidential election, the two major political parties, and their campaigners, have been concentrating on the primary jobs that the state will confront. Chief among those jobs is the hereafter of Medicare, the national health-insurance program. Medicare was enacted in 1965, under the disposal of Lyndon B. Johnson, in order to supply wellness insurance for retired citizens and the handicapped ( Ryan ) . The Medicare plan covers most people aged 65 or older, every bit good as disabled people who enroll in the plan, and consists of two wellness programs: a infirmary insurance program ( portion A ) and a medical insurance program ( portion B ) ( Marmor 22 ) . Before Medicare, many Americans didn # 8217 ; Ts have wellness insurance coverage, but since its origin the plan has enrolled about 40 million donees, who jointly fund the insurance plan along with the national authorities ( Carnegie ) . Harmonizing to Dr. Don McCanne, a member of the Board of Directors of Physicians for a National Health Program, # 8220 ; Before the transition of Medicare in 1965, merely 52 % of individuals age 65 and over had hospital insurance and less than 15 % had equal wellness insurance # 8221 ; ( McCanne ) . We will write a custom essay sample on Health Care Reform Essay Research Paper 915Due or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Medicare plan has improved entree to healthcare and better the quality of life for 1000000s of aged members, and has provided insurance for 1000000s of individuals with disablements. By cut downing the load of big medical measures, Medicare besides has improved the economic position of the aged. As Dorothy Price points out # 8220 ; Over its 33 twelvemonth history, Medicare has channeled one million millions of dollars into the wellness attention system, assisting to further tremendous betterments in wellness attention engineering and medical instruction # 8221 ; ( Carnegie ) . Unfortunately though, the plan is now confronting two major jobs: donees are still holding problem in happening low-cost attention, and the Medicare plan itself is non decently funded. As a consequence of these jobs, the plan could discontinue to be unless a solution is found. One of the jobs of Medicare itself is that it doesn # 8217 ; t cover the costs of prescription drugs for its members ; this has led to one of the major grounds that the plan is in danger. A great trade of personal health care relies on the usage of drugs, and since the plan doesn # 8217 ; t cover these costs, the single must bear them. Harmonizing to the AARP, in 1999 out-of-pocket costs for prescription drugs were estimated to be $ 450 per individual each twelvemonth ( AARP ) . Obviously, members have joined the plan to defray their medical costs, but these figures indicate that they still have big costs to pay. The other job faced by the Medicare plan is that it is besides enduring from a deficiency of financess. Harmonizing to Governor George W. Bush, the fiscal wellness of Medicare is in serious hazard and might confront shortage every bit shortly as 2010 ( Bush ) . As a consequence of these major jobs, one might inquire why the program isn # 8217 ; t scrapped for another plan ; good harmonizing to polls done by the Public Agenda, an Internet populace policy site, American citizens are strongly in favour of Medicare, and would instead see the jobs ironed out ( Public Agenda ) . Therefore it is necessary to come up with a solution, so that the Medicare plan remains integral. The most favourable solution for these jobs is for the national authorities to relieve the out-of-pocket costs ( such as the costs for drugs ) of the donees by funding the Medicare plan through the usage of the national budget excess. As of now, funding for Medicare has been provided through paysheet revenue enhancements and societal security revenue enhancements paid by enrolled members and their employers, and besides through general grosss provided by the authorities. In fact, statistics provided by the United States Senate and Senator William Frist ( R-Tenn. ) indicate that Medicare members fund 25 % ( about $ 45/month ) , and the authorities covers the other 75 % of Medicare costs ( Frist ) . However, utilizing gross from the budget excess would take the force per unit area off the donees and the authorities every bit good, by steadily take downing paysheet and societal security revenue enhancements. Another of import ground that makes this proposal worthy is the fact that the national budget excess will go on to increase beyond 2010. In fact, harmonizing to George W. Bush, the budget excess is expected to turn good past $ 5 trillion over the following 10 old ages ( Bush ) . Sing the fact that Medicare expenditures undertaking to be around $ 452.2 billion over that same period ( Bush ) , there will be plentifulness of money still available for military, instruction, and other authorities outgos. Obviously, if the budget excess were to diminish or stay dead over this clip, it would be really dearly-won to keep Medicare under this proposal, but due to the budget # 8217 ; s optimistic ( to state the least ) mentality, the proposal is really reasonable and effectual. Possibly the lone other alternate to Medicare itself would be for the authorities to follow a centralised signifier of health care, similar to the one employed in Canada. In that plan, every citizen would be entitled to the same benefits irrespective of age, disablement, or unemployment. Although this plan seems like it would be for the best, it would take many old ages to implement the system. Legislation for a major issue such as health care usually spans several old ages ( Frist ) , and is one ground that the authorities and neither party has of all time brought the thought to the head. Furthermore, the funding for a public health care program would switch more to the people since the authorities would be recognizing all of the costs. Although still in usage in Canada, the populace health care system caused rather a dirt in the late 1980 # 8217 ; s in the state of Alberta. In order to do up for the tremendous costs accrued by the plan, limitations were placed on the sum of drugs that were to be prescribed by doctors ( Marmor 97 ) . This raised many concerns over the plan and its deficiency of medical moralss. In fact, many organisations in Canada have formed alliances to forestall incidents like this from happening. One such alliance, the Friends of Medicare, was instrumental in assisting go through the Canada Health Act in 1994 ( Marmor ) . The Act is designed to guarantee that Canadian s receive comprehensive medical attention at no cost. As mentioned earlier, most Americans would instead see the Medicare plan revamped alternatively of replaced. One of the steps that the authorities took was the constitution of the Medicare HMO ( wellness care organisation ) . This plan was designed to let HMO subscribers the ability to utilize any infirmary or doctor. Previously, patients who contracted with HMOs were merely allowed to utilize infirmaries and doctors under contract with that HMO supplier ( Marmor 192 ) . As a consequence, many people feared that HMO # 8217 ; s were more disquieted about money, so the wellness of its endorser. With the coming of Medicare HMO, many more people subscribed to different suppliers. Harmonizing to the Medicare HMO Internet site, the entire rank of HMO # 8217 ; s has risen to over 7 million people as a consequence of its partnership with the Medicare plan ( MCOL ) . The job with the HMO is that it is an even more private signifier of health care insurance so Medicare, and hence costs more to the person. Whereas much of the disbursement for Medicare is provided by paysheet revenue enhancements, many employers do non even contract with wellness care organisations due to be ( Ryan ) . Therefore, endorsers must pay more in premiums each month, so the estimated $ 45 monthly Medicare charge. By utilizing gross from the budget excess to cover Medicare costs, the national authorities would be profiting itself, every bit good as Medicare endorsers. As antecedently mentioned, paysheet revenue enhancements and societal security revenue enhancements, current beginnings for Medicare support, would be well lower and more aged and handicapped individuals would be able to inscribe in the plan. The money from the budget excess would be used chiefly for out-of-pocket outgos, such as prescription drug costs, every bit Wellss as to finance infirmaries and medical engineering. The authorities would profit because of a stable national health-insurance program, and due to a quickly increasing budget excess which figures to increase good over $ 5 trillion over the following 10 old ages. This allows the authorities to take attention of other major jobs countries such as instruction, offense, and the armed forces. Although there are other options such as exchanging to a more centralised sig nifier of medical attention or trusting on a more private signifier of medical attention, each has several of import jobs. The clip spent on statute law covering with a public health care system, combined with moral facets of the system make it less appealing. Likewise, added costs and insurance premiums for persons, and the heavier fiscal load on the authorities make the private system less desirable every bit good. Based on these facts, the best solution would be to reform the Medicare plan through budget excess funding. Annotated fc7 # 8220 ; AARP On Medicare Reform. # 8221 ; AARP.org 3 March 2000. 21 October 2000 *http: //www.aarp.org/election2000/medicare.html* . In this article, the AARP ( Association for the Advancement of Retired Persons ) paperss the history of Medicare, and its success supplying healthcare insurance to the aged. However, the article besides points out some of the jobs that the plan causes ; for case, many of the plan # 8217 ; s donees must pay big out-of-pocket outgos in add-on to the monthly premiums they are charged. Bush, George W. # 8220 ; A Defining American Promise. # 8221 ; georgewbush.com 15 May 2000. 20 October 2000 *http: //www.georgewbush.com/News.asp? FormMode=SP A ; ID=3. Presidential campaigner George W. Bush outlines his docket on the issues of economic security and medical attention for the aged. If elected, Governor Bush will non waver to utilize gross from the national budget excess to back up societal security and Medicare reform. Carnegie, Wilson. # 8220 ; Altman Discusses Medicare Problems. # 8221 ; BrownDailyHerald.com 6 December 1999. 22 October 2000 *http: //www.browndailyherald.com/stories. Cfm? S=O A ; ID=868* . This newspaper article featured an article with Stuart Altman, a professor of national healthy policy at Brandeis University. In it, Altman discusses the state # 8217 ; s need for proper Medicare support. Presently, the Program is jointly funded by revenue enhancement dollars and authorities gross, but is in hazard of running a shortage in the hereafter. Frist, William R. # 8220 ; Who is Eligible. # 8221 ; Senate.gov 26 January 1998. 21 October 2000 *http: //www.senate.gov/~frist/show_med/sld018.htm* . Senator William Frist of Tennessee presents a slide show explicating how the Medicare plan Plants. Frist describes the two parts of the Medicare program, and besides explains who is eligible to inscribe in Medicare. Furthermore, Frist discusses how Medicare is funded, and the functions of assorted committees in wellness attention reform. Marmor, Theodore. Understanding Health Care Reform. New Haven: Yale Univ. Pr, 1994. Theodore Marmor discusses the argument over President Clinton # 8217 ; s wellness attention reform measure, and its options. He explains what we can and can # 8217 ; t expect from the measure, and besides analyzes some proposed solutions sing health care costs. Marmor is a professor at Yale University, and has been called on by Congress several times for policy proposals and argument. He is considered an expert on wellness attention reform. McCanne, Dr. Don. # 8220 ; Rebuilding Medicare for the 21st Century. # 8221 ; Medicare4All.org 11 February 2000. 21 October 2000 *http: //www.medicare4all.org/report/med 4.html* . Dr. Don McCanne, a member of the Board of Directors of the Doctors for a National Health Program, credits Medicare for giving 1000000s of aged and handicapped individuals medical insurance coverage. However, he besides points out that the plan is earnestly under funded, and faces shortage jobs in the hereafter. In McCanne # 8217 ; s sentiment, authorities support is the best manner to relieve the lifting costs of Medicare.

CE vs. AD

CE vs. AD CE vs. AD CE vs. AD By Maeve Maddox A reader takes issue with my use of the designation CE instead of AD in this sentence: â€Å"A mix of these tribes migrated to England in the fifth and sixth centuries C.E.† Here is the reader’s reaction: Give me a break with the New Age (CE) crap.   You cant make-up words and slogans to change history or our calendar.   Its AD period. Clearly, the reader prefers the traditional Western designation of AD and BC to the equivalent CE and BCE to denote the eras demarcated by the birth of Christ. Contrary to the reader’s belief, the use of AD in lieu of CE to denote the Christian era is nothing so new as â€Å"New Age.† The term â€Å"New Age† refers to a movement of the 1970s that was characterized by alternative approaches to traditional Western culture. Environmentalism and an interest in spirituality and mysticism as opposed to organized religion are especially associated with the New Age phenomenon. The designation CE as an abbreviation for â€Å"Christian era† predates the New Age movement by about 300 years. According to The World Heritage Encyclopedia, â€Å"The expression Common Era can be found as early as 1708 in English.† Still earlier than that, another chronological term used by Christians was vulgaris aerae, â€Å"the common era.† (The adjective vulgar derives from the Latin noun vulgus, â€Å"the common people.†) This designation occurs in English as both â€Å"vulgar aera† and â€Å"vulgar era† and is abbreviated V.Ae. or V.E. However, AD/BC have been with us for a very long time, and the reader is not alone in feeling a strong repugnance toward the growing practice of replacing it with CE/BCE. At least one Christian governing body urges adherents to resist the CE/BCE notation, seeing it as a result of â€Å"secularization, anti-supernaturalism, religious pluralism, and political correctness.† On the other hand, many Christians support the change, in deference to non-Christian cultures that also employ the chronology. The abbreviations CE and BCE may be interpreted as any of the following phrases: Christian era, before Christian era common era, before common era current era, before current era I started using CE/BCE in my posts for Daily Writing Tips because we have an international audience and because I’ve become aware that more and more publishers are adopting these designations. For example, five books pulled from my shelves at random reflect the changing convention: AD/BC: Christianizing the Roman Empire, Yale University Press, 1984. AD/BC: A History of Private Life, Volume I, Harvard University Press, 1987. CE/BCE: The Encyclopedia of World History, Houghton-Mifflin, 2001. CE/BCE: Life After Death, Doubleday, 2004. CE/BCE: The Real Messiah, Watkins Publishing (London), 2009. For my part, if the World were to organize a vote on the matter, I’d vote to keep BC/AD- if only for the fact that it’s easier to tell which is which. When I read a book that uses the BCE/CE abbreviations, I have to slow down when I come to a date because the letters CE are in both designations. Any culture designing a chronology will choose a culturally significant event to mark â€Å"Year One.† Before the AD designation became common, Christians made use of the Hebrew Anno Mundi chronology, which began with the estimated date of Creation. Some Christian writers reckoned time from the birth of Abraham. â€Å"Year One† for the Islamic calendar is the year Mohammad led his followers from Mecca to Medina- 622 CE on the Gregorian calendar. Whether we call the first year of our current era AD 1 or 1 CE, the fact remains that the reckoning is based on ancient Christian belief about the year in which Jesus was born. Modern scholars calculate that the historical Jesus was actually born four to seven years earlier than 1 CE. I think it’s very likely that in another fifty years or so, a new world reckoning will supersede the current one for international use. A new chronology will separate the â€Å"before and after† eras with a new â€Å"Year One† based on some event lacking religious connotations. Style considerations The Chicago Manual of Style recommends writing CE and BCE without periods. Writers making the switch from BC/AD to BCE/CE need to be aware of a difference in where the abbreviations should be placed in relation to the date. With BC/AD, the tradition is to put BC after the date and AD before the date: Julius Caesar was assassinated in 44 BC. Joan of Arc was executed in AD 1431. With the BCE/CE designations, both follow the date: Julius Caesar was assassinated in 44 BCE. Joan of Arc was executed in 1431 CE. Writers not governed by a publication’s style guide are free to use BC/AD. However, anyone who reads much history may as well get used to seeing BCE/CE. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:How to Punctuate References to Dates and Times20 Words Meaning "Being or Existing in the Past"Double Possessive

The use of force by william carlos williams Essay

The use of force by william carlos williams - Essay Example Should one derive vicarious pleasure by such an exercise? Hurting consciousness is hurting the core personality of an individual; it is the ultimate non-physical hurt. To cause intentional pain to others is considered as the greatest sin. The story by Williams relates to the 19th century surroundings. The narrator is a doctor, and the story centers on his actions and the reactions to his actions by the girl-patient. Now, normally a doctor is a busy person, profession-wise and he has to handle a number of patients in a day, and the family members. The doctor, in this particular case, is on house calls. As he initiates the process of the physical examination of the patients he thinks, â€Å"I could see that they were all very nervous, eyeing me up and down distrustfully. As often, in such cases, they weren't telling me more than they had to, it was up to me to tell them; that's why they were spending three dollars on me.†The doctor seems to be sympathetic and aware of his respon sibilities for the patient and would like to do justice to the professional charges that he would receive. Sometimes, handling the accompanying persons is more difficult than to handle the patient. A doctor is not a member of a peace delegation; he is a professional and has a responsibility to carry out—to make the patient recoup the original health. ... the ego issue may also crop forth in which case the doctor will have his way. His forcibly gathering the throat culture from the resisting child he is examining is the case in point. (The doctor must be thinking while executing his treatment options—I am the doctor, and I know what I need to do!) Basically, the doctor is a compassionate man, but he cannot be expected to retain his composure throughout the day in the discharge of his professional duties. He is undeniably blunt and prejudiced to an extent. He has to be, and that probably depends upon the type of patients/people that he has to interact with. His actions are generally the responsive actions. He has no deliberate intentions to hurt his patients. The parents are generally weak before their offspring, and with a daughter going through the phase of ill-health, the level of weakness increases further. This is the common disposition of parents. In this story a clear picture of the psychological trends of the daughter, p arents and the doctor emerges. Each one of them is right according to their understanding, in the given circumstances. The weak parents turn further weak, in front of their ailing daughter. The daughter becomes more stubborn taking advantage of their weakness. The doctor has to intervene, he has to carry on with his professional options of his choice and finally, he assumes the posture of stubbornness. At this juncture, he doesn’t hesitate to exert his professional power. He cannot wait for the weak parents and the stubborn daughter to come to a settlement, because time is also a constraint for the doctor, and he is suspecting it to be a case of diphtheria. He must diagnose and act quickly. When the polite words, initial coaxing fails, he comes to a conclusion and he says firmly, â€Å"I'm here

General Awareness about the New Packaging for Beverage Company Assignment - 1

General Awareness about the New Packaging for Beverage Company - Assignment Example Consequently, the project management plan should be used as a reference for any decision made on the project and whenever clarifications are required in areas that are unclear. To this regards, the PMP should be used as a reference throughout the project implementation so as to ensure that the management of the project is carried out consistently and in line with the laid down policy and procedures. This, therefore, makes the PMP part and parcel of the project making it evolve with the progress of the project hence periodic updates with relevant information. The marketing project is aimed at replacing the existing packing which is plastic and metal packaging and is biohazard hence not safe to use with their disposal in the waters being capable of contaminating the entire system and posing a threat to both aquatic and human life. The packaging is not only environmentally friendly but also utilizes low carbon and free from ozone oxidants. To this regard, the plan involves creating general awareness about the new packaging for a beverage company by employing various strategic policies at different levels of publicity which can be defined as marketing. The assumptions made in the charter is that the whole organization is a unit that works first for internal solidarity and then utilize the unit by the standards of a division of labour to spread out and work for community-based agenda and that the entire human population is considered as a family. This leads to the assumption that the target market is a free market with free flow of information. As regards the constraints, the global recession will be considered especially with respect to the monetary issues. The purpose of the project is to create general awareness about the new packaging for Beverage Company by employing various strategic policies at different levels by making careful observations about different market circles both globally and internally, different groundbreaking analysis and strategic formulation aimed at powering the growth process more substantially.  Ã‚  

Arab Isreal Essay Example | Topics and Well Written Essays - 1000 words

Arab Isreal - Essay Example The roots of the conflict can be traced back to the late 19th century in which there was a rise in national movements, including Arab and Zionism nationalism. Zionism, a Jewish national movement, was seeking sanctuary when they sought to establish a Jewish State in Palestine (Seger, Tom, pp26). The mandate for Palestine was a historical League of Nations document. It contained the Jewish legal right of settling anywhere in western Palestine between the Mediterranean Sea and Jordan river. Palestine became a trouble spot of competing territorial claims and also political interest by the early years of the twentieth century. While World War one was underway the British high commissioner, Sir Henry of Egypt corresponded secretly with the patriarch of Hashemite family and governor of Mecca and Medina. He convinced them to lead an Arab revolt against the empire of Ottoman aligned with Germany against Britain and France with the promise of the establishment of an independent Arab state (Price, Randal, pp20). In 1921 the British divided Jordan into two: the Emirates of Transjordan and the Palestine Mandate. Arabs were angered by Britain’s failure to fulfill the creation of an independent Arab state. The situation was most complicated in Palestine because of the promise to support the creation of a Jewish national home by the British. The Palestine Arabs opposed the British Mandatory because it threatened their aspiration for self-rule. Moreover, the massive immigration of the Jews threatened their position in their country. Clashes broke out between the Arabs and the Jews in 1920 and 1921 whereby roughly equal numbers from the two communities got killed. The Jewish National Fund purchased large portions of land from the absentee Arab landowners leading to their eviction. The displacements led to increasing tensions and violence between the Arab peasant tenants and Jewish settlers (Haiduc-Dale, pp34). According to the

Factors that cause effects on the airline industry

Factors that cause effects on the airline industry Introduction: Airlines overcome substantial strategic, financial and operational risks. In particular, the market changes in general economic conditions have influenced considerably the airline industry. Carriers have suffered losses of $50bn over the past 10 years  [1]  is the most specific evidence. Thus, this paper studies changes in four major fields confronting the airline industry including market forces, financial risks, government policies and global events as well. Simultaneously, this study illustrates different revenues to be derived from these points. Structure of this paper seeks to contribute in this way. After introduction, section 2 provides a theoretical analysis of market forces. Section 3, 4 and 5 describe the effect of financial risks, global event and government policies respectively. Finally, section 6 concludes the study. Analysis Market forces: First at all, the global airline industry faced intense impact as a result of the market forces of supply and demand. In fact, the change in demand is one of the most important factors which affected to the airline industry. The initial variable that can shift demand curve is income. In other words, if the passengers have the high income, obviously they will be able to get the tickets more in replacement of choosing car, train, etc. As a result, their demand to go by plane will definitely rise. However, over past 10 years, due to the global economic crisis, income has been decreased substantially which brings in the decline in demand of customers. This is illustrated by the Figure 1 below. Figure 1: Decline in demand Similarly, the wage of employees in the airlines industry has been varied considerably in the recent years. For instance, approximately 78% of employees at San Francisco Airport made under $10 per hour but this amount increased of 33% when there was a higher living wage ordinance  [2]  . All things said, the airline industry has been influenced frankly by incomes of their passengers and their own employees wages. In term of supply, input price is the essential variable to shift the supply curve. Indeed, fuel price is one of clear example. Because jet fuel costs comprise a significant component of airline operating cost, the airline industry also has been affected. While short term cash flows are related to changes in the fuel price which make revenue be slow initially, much of the price effects are likely to be passed on as all airlines face similar fuel costs in the long term. Indeed, there was an argument that airlines also face an underinvestment problem whenever profitable investment opportunities arise during times of high jet fuel costs.  [3]  About technology, due to the stronger development of technological system, the supply of world airline industry also rises. As a result, there are a huge number of both new and old airlines can provide the demand of customers. In term of competitors, if an airline sets up the higher price, they will obviously loss a large number of passengers at the same time which results in a lower revenue. The specific example is the differences in percentage of passenger seats sold (load factor) of 9 U.S airlines including Delta, American, United, Continental, US Airways, Southwest, Alaska, Jet Blue and Air Tran since they are competitors of each other. This following figure 2  [4]  describes this Figure 2: The rest variables also play an important role which affect to the demand curve of airline industry including tastes, expectation, technology and number of buyers or sellers but the most necessary factors are still the first two variables. Elasticity of demand is also the essential factor that influenced the airline industry. Indeed, competition consistently affects the price of airline tickets because it gives customers other options. When the demand is elastic, price and total revenue will be negative and when the demand is inelastic, price and total revenue will be positive. And this explains why the loss and earnings of world airline industry vary substantially. Hence, the table 1  [5]  below shows the annual loss and earnings of airline industry from 1990 to 2005 and figure 3 describes the annual net profit of the world airline industry  [6]  . Annual Loss and Earnings 1990 $   3.9 billion loss 1991 $   1.9 billion loss 1992 $   4.8 billion loss 1993 $   2.1 billion loss 1994 $   0.3 billion loss 1995 $   2.3 billion profit 1996 $   2.8 billion profit 1997 $   5.2 billion profit 1998 $   4.9 billion profit 1999 $   5.4 billion profit 2000 $   2.5 billion profit 2001 $   8.3 billion loss 2002 $11.0 billion loss 2003 $   2.4 billion loss 2004 $   7.6 billion loss 2005 $   5.7 billion loss Figure 3: Annual Loss and Earnings Figure 4: Financial risks: There are three factors that cause financial problem for airline industry: fuel price, interest rate, currency rate. Fuel price: In general, fuel price always plays an important role in the world economy. That is the reason why either increasing or decreasing of fuel price affect deeply on airline industry. It is easy to see that fuel and airline are complements. Airline cannot operate without the existing of fuel. Gasoline, oil, or other products from crude oil are utilized as irreplaceable fuel in airline industry. According to the theory, complements are two goods for which an increase in the price of one leads to a decrease in the demand for the other  [7]  . A change in price of fuel will shift the demand curve. In the other hand, assume that fuel is input and airline transportation is output. Rising in input price leads to a leftward shift the supply curve. The following diagram describes how fuel price causes a change in both demand and supply. Figure 5: Changes in both Demand and Supply Based on the diagram, when price of fuel increases from P1 to P2, the quantity demanded and quantity supplied decreased an amount computed by (Q1 Q2). As the result, both demand curve and supply curve shift to the left. Airline market reaches a new equilibrium E2. Applying those theories into the reality, the annual report 2009 of IATA stated that the surge in fuel prices in the first half of 2008 meant fuel represented more than 50% of many airlines operating costs  [8]  . By year-end 2009, crude oil prices had risen 85%, to $74 a barrel, as economic recovery began to raise demand and as futures markets, anticipating strengthening economic recovery, added to upward pressures  [9]  . Figure 6: Fuel price throughout the year, 2010  [10]   Higher jet fuel prices automatically eat into airlines profits; meanwhile improved economic conditions are boosting passenger numbers. For instances, in 2004, many nations including British Airways, had already added fuel surcharges to ticket prices or raised fares to counter higher fuel costs. Many of Asias major carriers, including Singapore Airlines, Australias Qantas, Malaysia Airlines and Indonesias Garuda had also introduced surcharges  [11]  . Fuel price cannot remain a stable status for a long run period then airline industry should be flexible to react quickly. Interest rate: Interest rate is other factor that effect on market economy in general and airline industry in particular. The interest rate connects the price of goods today and their price in the future. Higher interest rate increase expected cost of distress and this is particularly so for the airline industry where leverage is high and distress costs are substantial. Exchange rate: Exchange rate risk is important as airline profitability is related to currency values. Tourism demand is one of reasons that show how exchange rate cause changes of airline industry. Both inbound and outbound are influenced by exchange rate levels. When the exchange rate is high, tourist will receive benefits. The result is they are willing to travel more, thus, quantity demanded of airline tickets will be increased. In contrast, the depreciation of domestic currencies make tourists consider whether they should travel or not. Travelling in recessive period is a typically example. If the exchange rate falls down, customer might save their expenditure by not travelling or they might wait for promotion tickets. It means that foreign demand for international and domestic flights move inversely with the value of the home currency  [12]  . Global events The airline industry in the world has many changes every year. The more global event has happened, the more the affection has an effect on the airline industry. In 2001, after the terrorization 11/9 happened, the industry of airline decreased very quickly. Follow the number of airline industry, US airline posted they have net loss $7 billion. 20% staffs and employee lay off by US airline. The number of passenger reduce continuous and have criterion recovered in 2003  [13]   Figure 7: US Airline industry passenger revenues 1999 2004 Beside, the price of oil have effected on this industry. When the price of oil increase, the fees for material grow up .If the airline do not rise up the price of ticket, they will decrease their net profit. If the price of oil falls off, there are more than promotion tickets for passengers. Moreover, the disease can be affected to the industry .Example, when the SARS disease happened, many countries have not allowed passengers to come to place where SARS disease has. Government policies The government policy is another factor what can be effect on the airline industry. Because the government policy control on price, so the airline industry have 2 legal price such as price ceiling and price floor .The price ceiling is a legal maximum on the price at which a good can be sold  [14]  . For example, a airline has good quality, so they want increase fees. The price ceiling applied to fees to help people can be paid. When the airline wants to attracted passenger, they create promotions about the price their ticket. So the price floor is the price minimum at which ticket can be sold and the company airline still has net profit. P Surplus S E D 0 Q Figure 8: Taxes is a important factor of the government policy .When the taxes of the passenger increase ,the price of ticket rise up , so if the airline industry want to grow up, they need decrease another fees in ticket. When the taxes of the airline industry increase, the price of ticket will increase or the industry will cut off something to protect their profit. Conclusion: The above analysis showed that factors like market forces, financial risks, global events and government policies cause effects on airline industry. In order to overcome and continue develop own airlines, carriers should seek a suitable way. In details, by successfully managing opportunity cost, and adapting to an ever changing economic environment, airline industries can have economic success. However, the well-being of the nations economy will have a direct impact on the level of success experienced in the airline industry. During economic shortfalls in the nations economy, travellers will have fewer resources available to travel for pleasure. Contributing to the negative economic influences in the airline industry, future and existing policies targeting the airline industry will continue to hinder the industrys ability to recover losses in periods of economic hardships.

A Fortunate Life :: Free Essay Writer

Essay – A Fortunate Life by A.B. Facey â€Å"Bert Facey is the epitome of the legendary Australian†. Demonstrate this from a study of his autobiography. Albert Facey’s novel, A Fortunate Life depicts the life of an extraordinary man living in old Australia. Facey portrays many characteristics that would label him as being a ‘true Aussie battler’, but it is the deeper and more sensitive side of him that allows him to be labeled with the term – a legendary Australian. A legend by dictionary terms is someone who is admired by others and achieved great accomplishments. Facey has certainly both achieved and accomplished much during his life, such as learning to read at a late age. Facey’s life was full of private success and were it not for his book; he would have remained an unsung hero throughout Australian history. Facey’s lack of education haunted him throughout his early life. As Facey ‘hadn’t any schooling’ he found it difficult to read and write. Facey had always viewed his illiteracy as a personal shortcoming and took pains to not display his ignorance to the world. ‘Then a waitress came with a list of what we could have to eat. I was stumped – I couldn’t read or write. Then I had a brainwave and decided to have what Mr. Lander ordered.’ Facey was not comfortable with his feelings of inadequacy, and took many painful steps to try and rectify the situation. He eventually, through much practice and determination, learnt to read and write, and was able to pen his novel. The fact that Facey both acknowledged and overcame his illiteracy, shows him to be a man of great spirit and willpower as facing up to personal faults is never an easy thing to do. Life as an itinerant rural worker was very tough for Facey and not very rewarding. Throughout his early life, Facey was forced to work for extremely poor money and working conditions. Although life was hard, Facey was not one to complain or make trouble. He worked hard for the Bibby’s and previous employers, and was a loyal worker and a good companion. Facey showed an immense amount of pride in his work and was always willing to lend a hand to a mate. During his life, Facey made numerous friends or ‘mates’. He was friendly to the people he worked with, the soldiers he fought with and his family he lived with.

Managerial Economics Essay

Q.1.0) For each of the following events, assume that either the supply curve or the demand curve (not both shifted). Explain which curve shifted and indicate the direction of the shift. a.From 1950 to 1979 the wages paid to fruit pickers increased while the number of fruit pickers employed decreased. b.During the same period the price of radio sets declined, while the number of radio sets purchased increased. c.Housing prices are rising but more houses are sold. d.Australian Airlines reduces its average plane fare by 30 percent in order to attract more customers. Ans. a) In this case the number of the fruit pickers has decreased while the wages of the fruit pickers has increased. Thus, the demand has not changed. The supply of the fruit pickers has decreased, hence, the fruit pickers supply has shifted to the left. b) In this case the price of the radio sets declined while the number of radio sets purchased increased. This means the demand has increased. The demand curve has shifted to the right. c) In this case the housing prices are rising but more houses were sold. The demand of the houses has increased. The demand curve has moved to the right. d) In this the Australian Airlines reduces its average plane fare by 30 percent in order to attract more customers. The aim here is increase the revenue in the future. The supply is been increased to accommodate the increasing customers. The supply curve is moved to the right. Q.2.0) Explain the meaning of elasticity? What are the different types of elasticities? What are the factors that affect each type of elasticity? Of what use are these elasticities to business? Ans. Elasticity is a measure of the responsiveness of one variable to changes in another variable; the percentage change in one variable that arises due to a given percentage change in another variable. The Elasticity is one of the important factors to measure the market condition, the market character and depicts a comprehensive picture of the supply, demand relation. The different types of Elasticities are Own price elasticity, cross-price elasticity, income elasticity and other elasticity such as own advertisement elasticity and cross-advertisement elasticity. 2.1. Own price elasticity: A measure of the responsiveness of the quantity demanded of a good to a change in the price of that good; the percentage change in quantity demanded divided by the percentage change in the price of the good. EdQx, Px Percentage change in quantity demanded = %∆Qdx = Percentage change in price of the good %∆Px The Own price elasticity of demand is measured in terms of its absolute value, if the absolute value is greater than one (1) is said to be elastic, if the absolute value is less than one (1) is said to be inelastic and if the absolute value is equal to one (1) is said to be unitary. 2.1.1 Elastic demand: Demand is Elastic if the absolute value of the own price elasticity is greater than 1. │EdQx,Px│> 1 This means that the percentage change in the quantity demanded is more than the percentage change in the price of the good. Generally, the demand is elastic for consumer goods. The important point is when the total revenue increases (decreases) as a result of a fall (rise) in price, demand is elastic. 2.1.2 Inelastic demand: Demand is inelastic if the absolute value of the own price elasticity is less than 1. │EdQx,Px│< 1 This means that the percentage change in the quantity demanded is less than the percentage change in the percentage change in the price of the good. The demand is elastic for the daily requirement goods, specialty goods. The important point is when the total revenue decrease (increases) as a result of a fall (rise) in price, demand is inelastic. 2.1.3 Unitary elastic demand: Demand is unitary elastic if the absolute value of the own price elasticity is equal to 1. │EdQx, Px│= 1 This means that the percentage change in the price is equal to the percentage change in quantity demanded of the good. As the percentage change in price is equal to the percentage change in the quantity demanded, the total revenue does not change as price changes. 2.1.4 Perfectly elastic demand: A condition in which a small percentage change in price brings about an infinite percentage change in quantity demanded. │EdQx, Px│= ∞ 2.1.5 Perfectly inelastic demand: A condition in which the quantity demanded does not change as the price changes. │EdQx, Px│= 0 2.1.6 Influencing factors: The price elasticity is determined the following factors, the availability of the substitutes, time factor and the expenditure share of the product in consumer’s budget. * Availability of viable options: The price elasticity is very much influenced by the availability of substitutes. The price elasticity is greater when the substitutes are more. This is because of the wider choices consumer has. The minimal changes in the price of one good will result immediate shift of the demand to the other good. The elasticity for the broadly defined commodities tends to be more inelastic than the demand for specific commodities. This is because the specific products are demanded on the basis of the consumer’s tastes, preferences, likes, passion and need. * Time factor: The time factor influences the character of the demand of the good. In general, the availability of time allows the consumer to pursue the substitutes, which eventually results in the decline of the demand for the good whose price has increased. In short time, the demand is more likely to be inelastic for the reason that the consumer will not be able to find the substitutes. *Expenditure on the product: The amount spent by the consumer on a particular product determines the character of the demand elasticity of the product. The products on which the consumer spends fewer amounts are likely to be inelastic conversely the products on which the consumer spends large amount are likely to be elastic. This is because the slightest increase in their prices would have a great impact on the consumer’s budget. 2.1.7 Uses to the business: The own price elasticity is very much essential to the business to analyze the market and further to formulate the strategies to gain maximum benefit from the given situation. The price elasticity enables the firm to asses the relationship between the price of its product and the demand. The firm can be able to gauge the relationship between their products and other products in the market. This helps the firm to identify which are the competing products and complementing products. The firm by assessing the price elasticity can be able to define fine price strategies, promotion strategies and as well can contemplate about the synergies with the other firms whose products are in complementary relationship with the firm’s products. 2.2 Income elasticity: A measure of the responsiveness of the demand for a good to changes in consumer income; the percentage change in quantity demanded divided by the percentage change in income. EmQx, M Percentage change in quantity demanded %∆Qdx = Percentage change in the consumer income = %∆M If EmQx, M > 0, then X is a normal good, an increase in income leads to an increase in the consumption of X. If EmQx, M < 0, then X is an inferior good, an increase in income leads to a decrease in the consumption of X. 2.2.1 Influencing factors: The important factors influencing this elasticity are the income level of the consumers and the nature of the product. If the product is not having the perceived value or not having the perceived image, the product will be purchased more when the income level of consumer decreases conversely the products will be purchased less when the income level of the consumer increases. 2.2.2 Uses: The firms will be able to identify their product’s perceived  value. This assists the firms to modify their product’s features, promote well or position their product well in the market. In general, the firms are interested in making their products a normal good, the demand increases with the increase in the income level of the consumer. This elasticity helps the firms to define their pricing strategy to suit the consumer’s perceived value. 2.3 Cross-price elasticity: A measure of the responsiveness of the demand for a good to changes in the price of a related good; the percentage change in the quantity demanded of one good divided by the percentage change in the price of a related good. EdQx, Py = Percentage change in quantity demanded of one good = %∆Qdx Percentage change in price of related good %∆Py This elasticity helps in understanding the relationship between two goods. This elasticity explains whether two goods are complement or substitute to each other. If EdQx, Py > 0, the two goods are substitutes to each other, the larger the positive coefficient, the greater the substitutability between the two goods. If EdQx, Py < 0, the two goods are complement to each other, the larger the negative coefficient, the greater the complementary relationship between the two goods. The important point is the sign of the coefficient is important when mentioning the Cross-price elasticity. 2.3.1 Influencing factors: The close relationship between the products has a great impact on the elasticity. If the product has many competing or substitutes which offer similar benefits mix, the demand changes highly even with a minor changes in the price of the product or the changes in the price  of the substitutes. This elasticity is also influenced by the price of the complementing products; if the price of the complementing products increases (decreases) the demand for the firm’s product decreases (increases). 2.3.2 Uses: This helps the firms to handle the competition by formulating a well defined pricing strategy. The firms will be able to assess the relationship with the other products. The firms can identify the competing as well complementing products in the market. The demand of the product is highly influenced by the competing and contemplating product’s price. The firm by assessing the cross-price elasticity will be able to handle the competition and as well can form synergies with the firms offering complementary products. This will enable the firms to operate efficiently in the market. 2.4 Price elasticity of supply: The ratio of the percentage change in the quantity supplied of a product to the percentage change in its price. Es = percentage change in quantity supply = %∆Qsx percentage change in price %∆P Es > 1, elastic supply, the percentage change in quantity supply is more than the percentage change in price. Es < 1, inelastic supply, the percentage change in quantity supply is less than the percentage change in price. Es = 1, unitary elastic, the percentage change in quantity supply is equal to the percentage change in price. 2.4 Influencing factors: The influencing factors are the price of the product, the nature of the market. The ultimate objective of the firm is to make maximum profits, the firm will supply according to the rise in price and demand in the market to gain optimum profits. 2.5 Uses: This elasticity helps the firms to strike a balance among the price of the product, demand and supply of the product. This also helps the firms to define their production and supply str0ategy so as to address the given situation. Q.3.0) Read the New Economy Index dealing with the effects of internet and increased competition on business competition (http://www.neweconomyindex.org/section1_page06.html). a. List factors that are said to be driving the increased competition between firms? Do these factors suggest that the structures of the markets in which firms operate are taking on more of the characteristics of the perfectly competitive market structures? b. Is there information on these pages that gives an indication of whether increased competition is having an effect on the profitability of the firm? Ans. a) The factors that are said to be driving the increased competition between the firms are: i. Emergence of global market place. ii. The number of increased firms. iii. Technology that makes the entry easy for new entrants. iv. Ever increasing from securities markets to increase shareholders value. v. Frenetic atmosphere of mergers. vi. Increased number of large institutional investors. Yes, these factors suggest that the structures of the market are taking on more of the characteristics of the perfectly competition. The major  characteristics are the increased number of firms, more number of players. The easy entry for the new entrants suggests that the market is not having any entry barriers. b) Yes, the information on these pages indicates the effect of the competition on the profitability of the firms. The average price mark-up over the cost ration in manufacturing in United States had declined from about 19 percent in 1970 to 15 percent between 1980 and 1992. Q.4.0) Evaluate the economic case for economic integration in either South Asia or ASEAN region (chose the region which you live). Will this be beneficial for your country? Why or why not? Ans. I am from India and India is an active participant in South Asian regional development and welfare programs. The economic integration is an important factor influencing the prosperity of the nations worldwide. The economic integration is one most successful tool exploited by many countries to gain economic benefits and welfare. The movement of South Asian countries; India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan and Maldives towards the economic integration in the South Asian region will be a big step towards their economic welfare. The India has already signed Free Trade Agreement (FTA) with Thailand, one more similar agreement with Association of South East Asian Nations (ASEAN) and another trade agreement with Singapore in early next year. This is the initiative taken by India to bring close the nations of this part of the world and leap towards the economic integration. The developed have already formed their Regional Trade Agreement (RTA) such as North American Free Trade Agreement, European Union accord. The South Asian countries must formulate a similar platform to present their argument with one consented voice and craft own free trade agreement to counter the  growing competition from these countries. According a world bank report the success of the RTA is that the RTA were successful in eliminating the trade barriers thus, paving way for the free flow of goods and services, which ultimately benefits the masses. The trade barriers segment the market, restricts the free flow of goods, service, investments, development schemes which call for a joint venture. Therefore wide range policy measures are required to facilitate the economic integration. A direct shift from closed to open regionalism will enable the countries to operate in more liberal market. The increased relations between the nations allows the free flow of ideas, fosters alternative thinking and exchange of technology. In a liberal trade regime, the South Asian countries will reap benefits in terms increased volume of trade, larger investments and increased production but, also the new technologies which were hitherto unknown at work place. India, with a one fifth of worlds population has been successful in gearing the interaction between the South Asian countries, has a larger part to play and as well the biggest beneficiary from the economic integration in this region. There are some competitive complications in the integrations. Most of the countries are having rivalry among them as they offer similar products to the international market. India and Sri Lank compete in agro-products; tea, coffee, rubber and jute, Malaysia and Singapore in clothing, Japan and South Korea in electronics. At present the integration trade among SAARC is less than 5 percent, where as it is 55 percent in European Union countries and 65 percent in North American countries. The trade between India and Pakistan is currently at US$ 251; with the integration trade it would go up to US$ 4 billion. Q.5.0) What is a market failure? What are the different types of market failures? Discuss and give an example. Ans. The situation in which the following characteristics developed in the market is termed as Market failure. The different types of market failures are Market power Externalities Public goods Incomplete information 5.1 Market power: The ability of a firm to set its price above marginal cost. The main aim of the government is to create a perfect competition in the market. But, many a times it is not possible. There always exist some firms who have an advantage over the other firms operating in the same industry. These firms gain sustainable competitive advantage by having larger market share, high technology, competitive market position and/or financial support. The firm which has sustainable competitive advantage will exercise power to influence the market prices. The firm will keep its price higher than the marginal cost, the resources required to produce that unit good, thus decreasing the social welfare. The government will intervene in these instances to regulate these firms to increase the social welfare. When the firms exercise the market power, the social welfare will minimize, the consumer has to pay more than the cost incurred by the producer to produce that extra unit. The government formulates certain laws to avert the concentration in the market, which eventually results in Market power. In most of the countries, the governments formulate laws to control the formation of market power by legislating antitrust policy and price regulation. Example: The formation of a monopoly is a clear case of market power. Most of the firms attempt to build a monopoly. In monopoly market, the entry is restricted and the firms can charge high price than the marginal cost. In the above figure it shows the monopolist’s demand, marginal cost, and marginal cost and marginal revenue curves. In a perfect competitive market all the consumers are charged similar. But, in this case the monopolist charges PM price for the profit maximizing out put units of QM. At this price the consumer is pays higher amount for the last unit produced than the cost to produce it. Total social welfare in monopoly is the sum of producer and consumer surplus, the region W in the above figure. The triangle ABC represents the dead weight loss. 5.1.1 Antitrust policy: Government policies designed to keep firms from monopolizing their markets. The main aim of the antitrust policy is to eliminate the dead weight loss and discourage the mangers to exercise price-fixing agreements and other collusive practices by declaring it as an illegal to foster monopoly. The first successful antitrust act was used against United States and Trans-Missouri Freight Association agreement, which the Supreme Court declared as illegal. Standard Oil of New Jersey along with Standard Oil of Ohio was charged with attempting to fix the prices of petroleum products and the prices at which the products would be shipped. Standard Oil, in particular, was accused of numerous activities designed to enhance monopoly. 5.1.2 Price regulation: In many instances a single firm may be able to service the market or the  government may wish to allow the firm to practice monopoly. When the economies of scale are larger, the government may allow the firm to practice monopoly but choose to regulate the price of the firm’s products. Example: In India, the government has allowed the Maruti Udyog Ltd., au automobile manufacturing firm, to practice monopoly in small car segment till 1998. This was mainly to support this PSU, to gain the strength in the market and as was the capacity of the firm was made to address the demand of the market. Even though the Maruti was the only car manufacturer in the small car segment, the government has practiced strong price regulation in order to eliminate the dead weight loss. Regulating a Monopolist’s price at the Socially Efficient Level 5.2 Externalities: Effects on the third party who is not the part in decision making process is termed as the Externalities. There are two types of externalities; positive externalities and negative externalities. 5.2.1 Positive externalities: The benefits are received by the party which is not involved in the production or consumption of a good. Example: The benefits of the immunization of the public, which eventually leads to building a health society, benefits all the people irrespective of their participation in the process. The government programs aiming at imparting education to every one leads to the building a knowledgeable society. This initiative benefits the whole nation. 5.2.2 Negative externalities: The costs borne by parties who are not involved in the production or consumption of a good. Example: The pollution in the air, water and soil. The public in general suffers with out directly involving in the process. The society will be bearing some costs of this damage to the environment, but eventually the  impact will on everyone. 5.2.3 The Clean Air Act: The Clean Air Act was formed to address the much devastating issue of the pollution. The new act covers the industry which releases over 10 tons per year of any of the listed pollutants or 25 tons per year of any combination of those pollutants. The firms under this act are required to obtain permit to pollute. The permit is issued to the industry on the basis of its nature, level of pollution in that area and the calculated level of pollution that would be emitted by the firm at a fee. The act also supports the new entrants to find efficient ways to decrease the pollution in the industrial process. The Act’s another important feature is, a firm can sell its limit to the other firm if the firm has lower level pollution than the permitted level. This is to encourage the firms to find the new ways to minimize the pollution in their firms. 5.3 Public goods: A good that is nonrival and nonexclusionary in consumption. Public goods are the goods, which can be consumed by everyone. The goods are not paid by any one or the benefits are received by everyone. These benefits cannot be allocated to any single person; clean air, sunlight etc. In general, if no one pays for these goods, as everyone along with the purchaser will be benefited. Thus, there is little or no major incentive for the purchaser. This very factor leads to free ride phenomenon. 5.3.1 Nonrival consumption: A good is nonrival in consumption if the consumption of the good by one person does not preclude other people from also consuming the good. Example: street lights, public parks, radio signals, national defense. 5.3.2 Nonexclusionary consumption: A good or service is nonexclusionary if,  once provided, no one can be excluded from consuming it. Example: clean air, roads. It would be advantageous for a firm to contribute to public goods in its market place to create goodwill in the market. The same thing goes with the individuals as well. The benefit arising from paying for the public good is not exclusive for any individual, thus everyone would be willing not to pay for them, which eventually results in failure of the market in providing public goods. In conclusion, if the firm’s goal is to maximize profits, the last dollar spent on contributions to public projects should bring in one additional dollar in revenue. 5.4 Incomplete information: The information about the product and services to all the interested parties is important for the market to operate efficiently. The participants must have good knowledge about the product or service’s features, price, benefits, the risks and the available technologies. The incomplete information will eventually result in inefficiencies in the market functioning, usage and the firm’s output. The severe causes of market failure are asymmetric information, a situation where some market participants have better information than others. The presence of asymmetric information can lead buyers to refuse to purchase from sellers ort of fear that the seller is attempting to dump the product because it worth less than they are willing to pay and in some cases, may lead to the market collapse. The government has formulated policies to address this issue. 5.4.1 Rules Against Insider Trading: The regulation to avert the asymmetric information problem is by formulating rules against insider trading. The insiders will have more information about the company; can take better decisions about its stock trading. This if continues, the traders may reject the company’s shares. There will be little or no chance to the outsiders in the market which is dominated by the insiders; this will eventually result in market failure. To prevent insider trading form destroying the market for financial assets, the government has enacted rules against insider trading. The regulation is in Section 16 of the Securities and Exchange Act (1934) and amended in1990 and effective form May 1, 1991. Example: The manger has who has got a better knowledge about the company’s inside information may utilize to gain profits. If the company is contemplating to form a merger which would increase the value of the company, will buy the share in advance and sell them when actually the share value increase after the merger. Thus, gains maximum profits. 5.4.2 Certification: To eliminate the asymmetric information problems, the other devise is the certification. The government issues the certification of authenticity to the product or services after confirming to prescribe standards. This will ensure the consumers to get a fare deal in their transactions. Example: The issue of certification of authenticity by the government to the schools, colleges, industries etc. 5.4.3 Truth in lending: The little or no comprehensive information about the barrowings has resulted in financial crisis across the world. The government has passes legislation on the barrowing and repaying criteria to simplify the issue, Truth in Lending Simplification Act (1980). The truth in lending act affects both the supply and demand of credit. The barrowers have more information about the credit criteria, reduces the risk involved in repayment of the loan. The availability of information to the  barrowers increases the demand, thus, the demand curve for the loans moves towards the right. The suppliers are affected mainly by the increased cost in complying with the government regulations, hence the supply curve of the loan moves towards the left. This movement eventually results in increase in the price of the loan (interest). 5.4.4 Truth in advertising: Advertisement is one of the important means of communicating with the potential and actual buyers. The main aim of the advertisement is to turn viewers into buyers. Under the pressure to push the product in the market, the companies will indulge in providing the false information or too much from too little truth. When the consumers understand this, they will switch to competitor’s product or service. To alleviate this problem the government formulated the truth in advertisement. The main aim of this regulation is to cease the company’s from giving false information and to compensate the consumer who has incurred damages from a misguiding advertisement. 5.4.5 Enforcing contracts: Today’s markets are so dynamic, the relationships changes very quickly. In the attempt to gain the maximum benefit from a given situation, the companies become opportunists. To preserve the best interest of both parties the government has formed enforcing contracts regulation. In most of the instances the end-of-period is a crucial thing. The firms often violate the contract principles to gain instant benefit from a changing situation with out due concern to the other party’s interest. To solve this problem the government has formed Enforcing contracts, requires dishonest people to honor the terms of contracts. 5.4.6 Rent seeking: Selfishly motivated efforts to influence another party’s decision. The government always intervenes into the market in order to avert the market  failure. The government’s aim to intervene the market is to improve the allocation of resources in the economy by alleviating the problems associated with market power, externalities, public goods and incomplete information. The government policies benefits one party at the expense of other party. For this reason the lobbyists send huge amount of money in attempts to influence government policies. Q.6.0) Define CPI and Unemployment. What is the limitations/criticism of the following? a. CPI as a measure of change in prices. b. Unemployment rate as a measure of true employment. Ans. 6.1) The inflation and deflation are the two vital determining factors of the macroeconomics. Inflation: An increase in the general (average) price level of goods and services in the economy. The inflation does not mean that all prices of all products in the economy rise during a given period. Inflation is an increase in the overall average level of prices and not an increase in the price of any specific product. Deflation: A decrease in the general (average) price level of goods and service in the economy. In genera, the deflation is the reduction in the rate of inflation. 6.2 The Consumer Price Index (CPI): An index that measure changes in the average prices of consumer goods and services. The consumer price index is the widely accepted and used scale for measuring the inflation or deflation. The CPI is also called as the cost-of-living index. The CPI will measure the price changes in the consumer goods only. This measurement is considered with the effect of changes in the prices consumer goods on the income of the consumers. In Australia, the Australian Bureau of Statistics (ABS) prepares the CPI. The ABS price collectors contact a sample of retail stores, other businesses supplying consumer products or services, home owners and tenants in Australia’s capital cities, each quarterly. The items included in the market basket are the items used or consumed by a typical urban family, under the category of food & beverage, clothing, housing expenses, transportation, medical care, entertainment and a range of other goods and services. The composition of the market basket generally remains unchanged from one period to the next; hence the CPI is also called as fixed-price index. Computing CPI: CPI = Cost of the market basket of products at current year prices Ãâ€" 100 Cost of the same market basket of products at base-year prices Base year: A year chosen as a reference pint for composition with some earlier or later year. Annual rate of inflation= CPI in given year ─ CPI in previous year Ãâ€" 100 CPI in previous year 6.3 Limitation/criticism of CPI: The CPI as a measure of change in prices has attracted much criticism because of its limitations. The reasons for the change in price are affluent, the computing of CPI does not consider all these factors as it would be  difficult to collect and compile the data. 1. The CPI considers the items consumed by a typical urban family rather than the purchases of the consumers in every area. This very character limits the CPI to present a comprehensive measurement. Even in the family segment, the purchases of different families differ considerably from a typical family, the retired people have different buying criteria, purchases more of medicines and less of children products and the family who have more young children will have different needs. 2. The CPI does not acknowledge the changes in quality which in many instances results in the changes in the prices. Generally, the improving quality or performance of a product costs more to the producer, thus the producer will increase the price, the CPI fails to acknowledge this very fact. The price of television has increased quite highly, but the quality of the picture, sound and the added features are also the new benefits of today’s televisions, the CPI will not take these factors into consideration. 3. The composition of the market basket most of times is unchanged, which results in ignoring the latest trends. The market is more dynamic than ever and every year there are many new and innovative products and service are introduced to the market. The failure to take the changing patterns and preferences, the CPI will not be a comprehensive measure of the change in prices. b) It is very important for every country to assess the unemployment rate. The countries most important and valuable asset is its labor force. The government has to gauge the productivity of its employment force to develop the country. 6.4 Unemployment rate: The percentage of people in the labor force who are without jobs and are actively seeding jobs. The unemployment is not all the people who do not have jobs, but the people who are part of the labor force who do not have jobs or seeking jobs. 6.5 Civilian labor force: The number of people 15 years of age and older who are employed or who are actively seeking a job, excluding those in the armed forced, home makers, students, discouraged workers and other persons not in the labor force. 6.6 Limitations/criticism: The calculation of Unemployment rate has attracted much criticism for limitations to give a comprehensive detail of the employment. The Australian Bureau of Statistics (ABS) computes the unemployment rate in Australia. 1. False response to the ABS survey about the unemployment. The respondents may give false information about their employment. The respondents may give false information about their current position; they might say they are seeking a job even if they are not or employed in illegal activities. This could be because of the benefits of registering oneself as unemployed or job seekers. 2. The official definition of the unemployment understates the unemployment rate by not considering the discouraged workers. Discouraged worker: A person who wants to work, but who has given up searching for work because he or she believes there will be no job offers. After repeated rejections, discouraged workers often turn to their families, friends and possibly other forms of welfare for support. The ABS counts a discouraged worker as anyone who has looked for work within the last six months, but responds that they no longer looking for a job and includes in ‘not in labor’ category. The number of discouraged workers is likely to rise during a recession; the degree of underestimation of the official unemployment rate is thought to increase during a downturn. 3. Another understating of the unemployment rate occurs because the survey treats the part time workers equal to the full time workers. Some of these  part time workers might be willing to go for full time job given a chance. These latter workers are underemployed. Such under-utilization of the employees is great in recession, but is not reflected in the measured unemployment rate.