BUSINESS ECONOMICS Essay Example | Topics and Well Written Essays - 1250 words

BUSINESS ECONOMICS - Essay Example This paper will discuss the concept of elasticity and how a government tax on a product -- in this instance, cigarettes -- can affect the business firm in terms of how much a specific tax on cigarette can be shifted to the buyer and how much has to be absorbed. Price elasticity (Ep) of demand is the ratio of the percentage change in quantity to the percentage change in the price of a product or service, all other things remaining unchanged. Algebraically, this is expressed as follows: where P and Q are the price and quantity, respectively. This formula assumes point elasticity instead of an arc price elasticity for simplicity sake, as our objective of understanding the concept of elasticity can be sufficiently served by this simple assumption. Price elasticity measures how responsive the sales would be in relation to changes in price. Products and services inherently have different price elasticities, so that managerial decisions on expansion or reduction of output would depend to an important degree on how accurate are the determination of such elasticities. At the outset, we may consider the benchmark elasticity = 1 as indicating that a percentage change in price is just equaled by the same percentage change in quantity demanded. Where demand is somewhat less responsive to changes in price, we can say that demand is relatively inelastic -- that is to say, a percentage increase in price triggers a lower percentage change in quantity demanded. Demand is relatively elastic when a change in price causes a larger percentage change in quantity demanded. A vertical demand curve denotes perfectly inelastic demand with an Ep of 0, whereas a perfectly elastic demand would be a horizontal demand curve with an Ep of infinity ( ∠ž). An important elasticity criterion is whether a good is a necessity or a luxury. A necessity has an inelastic or relatively inelastic demand curve. A good that is inessential (or a luxury) has a relatively elastic demand curve;

Globalization and the gains from international trade Essay - 1

Globalization and the gains from international trade - Essay Example Using certain assumptions, Samuelson concluded that although it cannot be illustrated that everyone stands to gain under free trade, it can nevertheless, be proven that no one could be any less worse (Kemp 1995, pp. 3-4). According to him, in a free system, both production and consumption always end up higher than those in autarkic states. A free trade society is better off since the trade frontier rises high above the autarkic frontier on all aspects implying that it can obtain more all of such goods minus some of the tedious inputs (Samuelson 1962, pp. 820-821). Kemp believes that gains in free trade is evinced only if none of the countries within the globalised system is worse off than those in smaller customs unions. Free trade, according to him, is just one of the integral characteristics of globalisation that ultimately gives rise to more global development (Kemp1987). Kemp (1962) expanded on Samuelson’s theory by proving that GTIF is applicable to countries of whatever size under similar assumptions. Using the equation p1 z1 – w1 a1 ? p1 z0 - w1 a0, Kemp concluded that it is impossible to make everyone better off by a mere redistribution of goods under autarky and illustrated, using the same utility curves employed by Samuelson, that free trade is better than autarky (see Fig. 2). ... Point pp also passes below u1 because it operates under autarkic condition, but point RR, which operates under free-trade, can neither lie inside autarkic levels. In sum, the GFTIP has four core theories, assuming a fixed market with finite numbers of individuals and commodities: free trade is better than no trade, whether an economy is small or big; any improvement in trade is beneficial in the case of small open economies; trade in further products is likewise beneficial for small open economies, and; a relationship involving any trade agreement is mutually beneficial for any subset of trading countries (Kemp 1995, p. 105). ii) Carefully explain and annotate the proof of the classical GFITP provided by Grandmont and McFadden (1972). Why is this proof generally regarded as the first satisfactory proof of the classical gains from international trade proposition? The first satisfactory and complete proof of the classical GFITP is believed to be that propounded by Grandmont and McFadde n in 1972. The reason for the long lag of time between proposition and proof lies in technicality: the absence of a lump sum compensated world before World War II (Kemp and Wan 1972). Grandmont and McFadden proved that autarkic countries can subsequently evolve into free trade without harming their consumers through internal financing to ensure, at least, that consumers are not worse off than before. With the classical GFITP reduced into Propositions A and B, Grandmont and McFadden developed a model to prove their validity (1972, p. 110). In the Grandmont-McFadden model, both Propositions A and B assume decentralised and multiple-consumers nations with competitive domestic markets. Proposition A states that â€Å"Given a world competitive trade

Service Management Assignment Example | Topics and Well Written Essays - 500 words - 5

Service Management - Assignment Example The author illustrates the relationship between the named variables using two case studies. The conclusion was that cultural differences between the tourist and the operator greatly influence the supply chain management in this industry. As such, training was needed in order to enhance the cultural skills of the tourism operator in order to improve the process (Koblun, 2011). Basically, this article is trying to point out the fact that cultural greatly influences the tourism industry. This is true especially in the 21st century where various cultures are converging together due to globalization effects (Reisinger, 2009). It is also true that the best way to improve performance is through training as it will enhance intercultural communication skills that can be used in the supply chain management (Wahab, 2001).   From the presented data, the confirmed link from the service performance network includes leadership-strategy-process-services-customer satisfaction-retention and loyalty-financial performance. However, a link that involves staff satisfaction and anything related to the consumers such as retention loyalty and attraction have not yet been confirmed (Johnston, Clark & Shulver, 2012). All this comes due to the positive linear correlations between sales per square meter, share of grocery budget, customer satisfaction and customer referral. All these show that customer loyalty and customer satisfaction is high. The same also illustrates that service value and output quality is high. The named organization has a reputation based on excellent services, which is the reason why customer satisfaction and referral is high. Nevertheless, there is a negative linear correlation between employee turnover, referral, satisfaction, style of supervision and operating ratio. Since these are indicators of employee loyalty, employee service capability and employee

Globalization and the gains from international trade Essay - 1

Globalization and the gains from international trade - Essay Example Using certain assumptions, Samuelson concluded that although it cannot be illustrated that everyone stands to gain under free trade, it can nevertheless, be proven that no one could be any less worse (Kemp 1995, pp. 3-4). According to him, in a free system, both production and consumption always end up higher than those in autarkic states. A free trade society is better off since the trade frontier rises high above the autarkic frontier on all aspects implying that it can obtain more all of such goods minus some of the tedious inputs (Samuelson 1962, pp. 820-821). Kemp believes that gains in free trade is evinced only if none of the countries within the globalised system is worse off than those in smaller customs unions. Free trade, according to him, is just one of the integral characteristics of globalisation that ultimately gives rise to more global development (Kemp1987). Kemp (1962) expanded on Samuelson’s theory by proving that GTIF is applicable to countries of whatever size under similar assumptions. Using the equation p1 z1 – w1 a1 ? p1 z0 - w1 a0, Kemp concluded that it is impossible to make everyone better off by a mere redistribution of goods under autarky and illustrated, using the same utility curves employed by Samuelson, that free trade is better than autarky (see Fig. 2). ... Point pp also passes below u1 because it operates under autarkic condition, but point RR, which operates under free-trade, can neither lie inside autarkic levels. In sum, the GFTIP has four core theories, assuming a fixed market with finite numbers of individuals and commodities: free trade is better than no trade, whether an economy is small or big; any improvement in trade is beneficial in the case of small open economies; trade in further products is likewise beneficial for small open economies, and; a relationship involving any trade agreement is mutually beneficial for any subset of trading countries (Kemp 1995, p. 105). ii) Carefully explain and annotate the proof of the classical GFITP provided by Grandmont and McFadden (1972). Why is this proof generally regarded as the first satisfactory proof of the classical gains from international trade proposition? The first satisfactory and complete proof of the classical GFITP is believed to be that propounded by Grandmont and McFadde n in 1972. The reason for the long lag of time between proposition and proof lies in technicality: the absence of a lump sum compensated world before World War II (Kemp and Wan 1972). Grandmont and McFadden proved that autarkic countries can subsequently evolve into free trade without harming their consumers through internal financing to ensure, at least, that consumers are not worse off than before. With the classical GFITP reduced into Propositions A and B, Grandmont and McFadden developed a model to prove their validity (1972, p. 110). In the Grandmont-McFadden model, both Propositions A and B assume decentralised and multiple-consumers nations with competitive domestic markets. Proposition A states that â€Å"Given a world competitive trade

College Tuition Essay Example for Free

College Tuition Essay There’s no escaping the fact that college cost are rising. According to recently released reports from the College Board, most students and their families can expert to pay, on average, from $95 to $1,404 more than last year for this year’s tuition and fees, depending on the type of college. (Collegeboard. com) The United States needs to lower the cost of college tuition; because students and parents have had to pay double the amount of money for schooling then they would have ten years ago. In the past five years, the average cost of in-state tuition and fees at public colleges has jumped thirty-five percent. In the past twenty-five years, the average cost of tuition and fees has risen faster than personal income, consumer prices and even health insurance. In 1999 students had to pay $2,489 for universities and $865 for community college. In 2003 the price rose from $3,441 for universities and $1,120 for community college. In 2006 the price jumped to $4,867 for universities and $1,483 for community college. Between 1999 and 2006 there was a 95. 54 percent change in the universities pay and a 71. 45 percent change for community colleges. There is no denying the fact that college tuition has doubled in prices (USAtoday. com). According to stateuniversity. com Blinn College undergraduate tuition for in-district students is $1,260, for in-state $2,478 and for out of state $5670; not including the undergraduate required fee which is $1,176 for all three districts. For tuition alone you are spending between $2,436 and $6,846. Now if you add in books and supplies which runs between $946 and $995. You also can not forget about room and board which can run $5,888 to $6,047 (stateuniversity. com). If you add that all together for Blinn College you are expected to spend roughly $9,270 to attend Blinn College for a semester. A small reduction in state support may result in a large increase in tuition. We help pay for maintaining access for handicapped students; Meetings environmental requirements; screening international students; and conforming to historical preservation requirements. If you think about it we are helping out the school and students. Prices increase as colleges compete for students to come to there college. Of course there are scholarships and financial aid, but not everyone can qualify for them. Paul Middendorf, 54, Richmond, Texas says, â€Å"†¦. When my first son, now twenty-six, applied for college, he applied for dozens of scholarships but was told they earned too much money to qualify for financial aid. † They had to finance their children’s college education with a mix of savings and federal parent loans. (USAtoday. com) According msnbc. msn. com; a companion report released on trends in student aid in grant aid – money students do not have to pay back – have covered only about one-third of the increase at public four year schools. Students are footing more and more of the bill with private loans from banks and student loans companies. Undergraduate private borrowing grew twelve percent to $14. 5 billion in 2006-2007. The rate of increase in total private borrowing for education has slowed, but borrowing has increased over the last decade. Legislators are tired of taking the blame for the escalating price of a college education, and some – mainly Democrats – say they want to resume setting tuition themselves. University leaders argue that the additional money is crucial for attracting and retaining top faculty. (chron. com) Students and families are caught in the middle. â€Å"With tuition and gas, it is hard to make end’s meet,† said Charlotte Atkinson, 26, a senior at the University of Houston. Instead of having to digest such an immense amount of information, students and their families should be able to apply for financial aid by making a note on their tax returns (a solution advocated by Democratic presidential nominee Barack Obama). It is hard to even realize that money is such a big factor in our lives today. Based on the information I have given you it is a fact that the cost of college tuition needs to be lowered so that more students can attend and pay for college.

Safeguarding the Welfare of Children

Safeguarding the Welfare of Children A protection and safeguarding the welfare of children is defined as protection against bad behaviour, ensuring that would not affect the childs health or development, and also ensuring that children grow up in a safe environment and effective care. Child protection is to ensure and promote the welfare. It is also an alert mechanism for child neglect and abuse. Legislative framework is there to protect children. There are a lot of laws, guidelines, policies and procedures. All this is designed to ensure the childs welfare. So, let`s discuss the Basic Law. But first you need to know that the legislative framework has three sections. The first is a learning and development requirements. The second is an assessment. The third section is the safeguarding and welfare requirements. Here is a brief overview of framework. One of them is the Children Act 1989. This law was introduced to attempt to streamline the laws affecting children. They emphasized the priority importance of the principle. This means that the childs welfare is paramount when decisions made for his/her education. We are working to safeguard children in 2006 to confirm the exact commit the Agency and service work together in order to reduce the risk to threaten the well-being of the child. The Safeguarding Vulnerable Groups Act 2006 is designed to work with vulnerable groups and in particular at what has been done. Statutory guidance documents are produced by each relevant government departments in order to explain the responsibilities that are different for illegal language. They serve to explain to anyone who works with children and to more accurately indicate their responsibility to protect children from abuse. Policies and procedures give annual review setting out the duties of an employee on child protection. It also provides training for everybody at work who relates to the setting. The obligation is to inform the Independent Safeguarding Authority about any human concerns with the settings and t hreatening for children. They give the order to work with the Local Safeguarding Board. It also provides a procedure including the assessment of the risks by ensuring that the policy is working in practice. The Criminal Records Bureau check all adults who have uncontrolled access to children under 18 years of age. This system checks all who want to work with children or an old people or persons who are otherwise classified as vulnerable. They can provide information about a person with a criminal history or who had to pay for a criminal conviction is ended. This information is gathered from several sources and compared CRP which has granted the applicant to disclose knowledge or information. The Independent Safeguard Authority presents contradictory vetting and barring scheme which requires anyone who works or volunteer with children and vulnerable adults to register with the ISA. The child exploitation and online protection centre is focused on combating the sexual exploitation of children and runs think u know internet security scheme. The NSPCC helps defeat of cruelty to children in different ways. They provide such assistance to children as child line services to families and children, tips for adults and professionals, carry out research and consultation services. So there are a lot of laws, guidelines, procedures and policies ensuring the welfare of a child. This is the Health and Safety at Work Act 1974 and the Management of Health and Safety regulations in 1999 which includes first aid, emergency procedure, injuries, accidents and illness and Control of Hazardous Substances. As well as data protection act 1998, disability discrimination ANCT disability in 1995 and 200 in 2004, raced Relations Amendment Act 2000, the Children Act 2004, working together to safeguard children. As you can see it is include all legislative frameworks and cooperate with the best welfare and protection of children. All settings must realize Early Years legislative framework f or child welfare, safety, and security and road Obstruction ensuring even not happened events that they are not going to happen. Child protection is more important. It ensures the safety of children, learning and development. However, our problems exist. There are four different forms of abuse. They are physical abuse, emotional abuse, sexual abuse and neglect. Physical abuse or injury is to engage the coincidence someone deliberately endangering the child. This can take different forms of injuries. Bruising occurs from being slapped, punched, shaken or squeezed. Cuts may occur from scratches, bite marks, a torn frenulum. Fractures such as skull and limb fractures can be a result from being thrown against hard objects. Burns or scalds range from cigarettes, irons, bath or kettle. Often a particular injury can be readily explained, but we have to disclose that if a child has bruises that show some pattern of an object such as dental records or iron stamp. Also look out for behavioural disturbances such as aggression. Another form of abuse is emotional abuse. This happens when a child consistently faces threaten ing ill-treatment from an adult. It can be verbal, mocking, ridiculing and insulting abuse of a child. It is difficult to establish common forms of abuse, but signs of emotional abuse include withdrawn behaviour, attention seeking, low self-esteem, stammering and stuttering, telling lies, tearfulness. Emotional neglect means that the children do not receive love and affection from adults. They are often left alone. Neglect occurs when an adult cannot give a child what he needs to develop physically. Often adults are leaving children unattended. Physical neglect signs are being underweight, unwashed clothes, poor skin tone, matted hair, being constantly tired, hungry and listless or lack of energy. Also often you can see the signs such as health problems and low self-esteem. Sexual abuse is when the adult uses children for sexual purposes. This can be anal intercourse or inclusion of watching pornography. This means that the child is encouraged to sexually intimate behaviour or oral sex, masturbation or the fondling of sexual parts. Sexual abuse may include signs such as bruises or scratches as non-accidental injury or physical injury, itching or pain in the genital area, wetting or get soiling themselves, low self-esteem and lack of confidence. There may also want to be treated like a baby or have poor sleep or eating patterns. A bullying usually includes deliberate hostility and aggression, a victim who is less powerfull than bully, an outcome which is always painful and distressing. Bullying can be physical, such as pushing, kicking, hitting, pinching or any other forms of violence. Verbal bullying can be such as name-calling, sarcasm, spreading rumours, threats. Emotional: excluding, tormenting, ridicule, humiliation. Racist: racial taunts, graffiti, gestures. Sexual preference: unwanted physical contact, abusive comments, homophobic abuse. Cyber: sending up messages, emails and cell phone messages. There is a case when children need urgent medical assistan ce. It includes bouts, scalding, burns, electric voltage, poisoning, fainting, concussion, bouts of bleeding, fractures, bouts of asthma, respiratory, diabetes. They should go to the doctor if the children have a high temperature more than 24 hours, a persistent cough, pain above the eyes, sore throat or ear pain. Joint disease signs and symptoms include facial colour change, temperature change, behavioural changes- calm, upset, complains about pain, coughing and sneezing, rash, lethargy, diarrhoea or nausea. Statutory requirements are to encourage the protection and welfare of all children. For this everybody are working with a lot of authority in order to achieve the best results for child welfare. Evaluate the safety of children in Early Years settings. So as I said there are many structures, which are doing its best for the childs welfare and security. It is important to share information with the right people. RIDDOR is reporting injuries, diseases and dangerous occurrences regulations 1995. If an incident occurs at work that is serious enough to keep an employee off work for three or more days, employers will need to fill in the relevant paperwork and send the report to the health and safety executive. They may investigate serious incidents and give advice on how to improve practice if needed. Health and Safety at Work Act 1974 and the Management of Health and Safety at Work regulations 1999 provides instructions on how to use the equipment and identifies a function. They ensure that throughout the employee environment is safe and does not contain a risk to health or well-being of the staff and users. Data Protection Act 1998 implementation of an appropriate system for coll ection, storage and access to essential information about children and families when required by regulations. Protection of Children Act 1999 regulates who can work with children and under what conditions. All employees who have direct contact with children must have a Criminal Records Bureau disclosure enhances. The Human Rights Act 1998 includes illegal lever public powers violate the human rights covenants. The main line is equality for policies and practices. Disability Discrimination Act 1995 and 200 in 2004 disability Key Impact Is that all training opportunities are flexible and available with respect to each childs individual needs. Race Relations Amendment Act 2000 requirement is to monitor and record all racist incidents. The Children Act 1989 includes requirements for premises, quality of care and staff. This gives the individual child welfare. Communicate to the Children Act 2004 is to ensure the childs best Interests. RIDDOR is an institution. The authority concerned sh ould be notified of such cases as death, Major Injuries, Top Seven days Injuries, Dangerous Occurrences and occupation illnesses. Lets talk about a healthy balanced diet. In England the school trust fund has been formed to ensure schools adopt the 14 nutrition based standards and five food groups. The Eat well plate is prepared in accordance with government guidelines for healthy nutrition. It is based in five groups. This is the bread, rice, pasta and other starch foods. The second group include fruit and vegetables. The third group is milk and dairy products. The fourth group is meat, fish, eggs, beans and other non-dairy sources of protein. And the fifth group consists of food and drinks high in fats or sugar. Seven Nutrients are protein, which grows body and is good for the brain, skin and blood. Another is the carbohydrates that provide energy. Fat provides energy and will store a body if eaten too much. Minerals build the bones and teeth, including calcium, iron and fluoride w hich are found in a large food. Next is water and it makes up two thirds of the body`s weight essential for children to drink. And last are vitamins. They help to maintain a healthy body. It is advisable to use the less sugar and salt and food additives in food as well as snacks. Nutrition is important in order to grow because we should get energy and heat the battle against infections, heal the body, make healthy function of brain, good assurance body functions and develop good eating manners to prevent bad digestion, concentration and alertness. There are religious or cultural beliefs that cannot eat certain foods. The Hindu group do not eat beef, and may be vegetarians. Muslims do not eat beef or pork products or seafood. Meat is being prepared by halal method. Christians may eat fish on Fridays. Jews may not eat pork or shell fish. Food is produced by the method of Kosher. There are also health needs that may affect how the products are prepared or which products can be eaten. V egetarians do not eat meat or meat products. Vegans do not eat animal products. Restrict celiac gluten is found in wheat barley, rye. Sensitive to allergies often cannot eat nuts and milk. Reactions to allergies can be such as vomiting, difficulty in breathing, swelling of lips and tongue, rash usually found on the chest back limbs, tightness in the throat or Itching, diarrhoea, wheezing, anaphylactic shock. Unhealthy diet threatens child obesity, failure to thrive, poor immune system, recurrent infections, nutritional anaemia, underfeeding. A higher risk of developing diabetes heart attacks, dental decay and osteoporosis. And unfortunately but common eating disorders found in children and young people. This is anorexia and bulimia nervosa. They have profound implications on the development of the child self-concept and self-esteem. There are requirements that should be followed in the environment to ensure the safeguarding and welfare of children. There are many physical conditions that are hazards to the health, safety and security. It includes lighting, temperature, rest facilities, ventilation, toilet facilities, etc. So practitioner has to make sure that he or she is aware of settings, health and safety and security procedures before starts work. Take account of individuals` needs, wishes, preferences, and choices, while ensuring your own roles and responsibilities in relation to health and safety. Seek additional support to resolve health and safety problems where necessary. Report issues to the appropriate people and minimise risk. Safeguarding agencies help is many different ways. There are lots of help for children and us. Safeguarding and promoting the welfare of children is the responsibility of the local authority, working in partnership with other public organisations, the voluntary sector, children and young people, parents and carers, and the wider community. A key objective for local authorities is to ensure that children are protected from harm. Other functions are housing, sport, culture and leisure services, and youth services. Health professionals and organisations have a role to play in safeguarding and promoting the welfare of children. The general principles are to aim to ensure that all affected children receive appropriate and timely preventative and therapeutic interventions, ensuring that all health professionals can recognise risk factors and contribute to reviews, enquiries and child protection plans, as well as planning support for children and providing on-going promotional and preventative support through proactive work. Professionals who work directly with children should ensure that safeguarding and promoting their welfare forms an integral part of all stages of the care they offer. The police recognise the fundamental importance of inter – agency w orking in combating child abuse. They involve social work colleagues. The police are committed to sharing information and intelligence with other organisations and should be notified as soon as possible where criminal offence has been or is suspected of being committed. Probation services supervise offenders with aim of reducing re – offending and protecting the public. Early years services such as children ` s centres, nurseries, child minders, pre-schools, playgroups and holiday and out- of- school schemes – all play an important part in the lives of large numbers of children. Everyone working in early year`s services should know how to recognise and respond to the possible abuse and neglect of a child. Let`s talk about the importance of personal hygiene. Children should be encouraged to wash their hands before meals and snack time. Children should be discouraged from eating off the floor. Using cutlery allows the child to learn table manners and will lessen the chan ce of the transfer of germs from the hands to the mouth. Teaching the correct principles of hygiene should begin at as early age as possible. It will help to prevent the spread of infections and diseases that can damage the digestive tract, respiratory tract and the external features of the body. Children will follow the example from the adults so they should lead by example. Maintaining correct hygiene will allow the child to be independent and will lessen the likelihood of bullying if they are kept clean and tidy and do not suffer from associated complaints. There are some good methods to reward positive behaviour such as providing reward charts or stickers, giving the child extra responsibility, acknowledging the repeat behaviour, praising the behaviour and providing undivided attention to the child.

If I Could Give Freedom Away :: essays research papers

I see on the news, a five-year-old girl is injured in a car accident. As a result, she becomes paralyzed from the waist down. The doctors say she will never walk again. This girl must spend the rest of her life confined to a wheel chair. The freedom to walk has been taken away from an innocent child.When I stop to think about this I realize how much I take for granted the use of my legs. I remember how much I enjoy walking along a beach with warm, wet sand squishing through my toes. I realize how much it means to me playing sports for my school and being part of a team. How different my life would be if I would not be able to go hiking through the woods or go swimming and jumping off diving boards. I look back at the times when I was a child and hopped on my bike to ride into town or just ran around the neighborhood playing with my friends. Many people who are paraplegic or have physical disabilities will never have these opportunities. Every day of their lives they must face struggles. Simple things I do routinely every day, like getting out of bed in the morning and getting dressed, would be a challenge for the physically impaired. What would it be like if I had to wheel myself from class to class, instead of walking freely through the halls. I think the worst part of being physically disabled must be, sad but true, the staring, the teasing, and being made fun of. Not everyone would be so cruel, but cruelty does happen. If I could give away freedom, I would give the freedom of movement to all people who are paralyzed in some way. I would give it to people in this condition so they could enjoy all the things other humans can enjoy. Some people are born with disabilities, and others dreadfully obtain them during their lives. Some of these disabilities can be cured, but many can’t be. I think this is unfair and everyone should be given the same opportunities in life.Why should someone be denied the freedom to run?