Principles of Economics Assignment Example | Topics and Well Written Essays - 1000 words - 7

Principles of Economics - Assignment Example This is because one will take more time looking for a parking space and the congestion in the parking area will create inconveniences. The opportunity cost is the cost of time taken to park that the students have to pay instead of engaging in other profitable activities. d) The opportunity cost of students with no employment is less than that of students with jobs earning 15 per hour. The students with no jobs are not forgoing any money as they take more time to park their cars as compared to before the price was lowered. To the contrary, those with jobs have to forgo the amount of cash they would have received if they worked those hours. b) The opportunity cost of 100 bats is 40 rackets that will be forgone if the country decides to add 100 bats more. Adding 100 bats will incorporate the resources that are usually used to produce the 40 rackets. The current resources can not be able to cater for the addition of 100 bats without decreasing the amount of rackets. Therefore, the rackets have to be produced less by 40. c) If the athletic country produces 300 bats and 300 rackets, the opportunity cost of additional 100 bats is 100 rackets. This is what is sacrificed to be able to produce the extra 100 bats. The resources will be reallocated to be used to produce the additional 100 bats. The resources have to be reallocated since they cannot cater for the additional bats. d) The additional production of 100 bats in part c will cause a greater trade off than the additional production of 100 bats in part b. This is because the opportunity cost increases as the goods produced increases. In b, 200 bats will be produced, while in c 400 bats will be produced. The gradient of the PPF becomes steeper as more bats are produced, showing a greater sacrifice in terms of rackets forgone. e) Suppose Athletic Country produces 200 bats and 200 rackets, 200

Legalization of marijuana Essay Example | Topics and Well Written Essays - 1500 words - 1

Legalization of marijuana - Essay Example Despite the whole debate surrounding support for legalizing it, criticism over the effects or consequences emanating from its use has also been critical in the decision making process. In this regard, the decision of whether to legalize marijuana or not highly depends on the measure of whether there are more advantages or disadvantages of legalizing it. Earleywine (67) argued that although marijuana has medicinal value attached to it, many things have to be put into consideration when making the decision of whether to legalize it or not. Political, social economic and health issues are some of the facets to be considered when making the decision. In light of this, there are different tenets that have to be articulated upon to come up with sound decision. If marijuana is to be legalized, it translates to economic advantage to people that will be farming and retailing it. This is a great accomplishment as it translates to improved lives of the people to be involved in the business. In fact, the government will also have the opportunity of generating revenue from the tax collected from the marijuana business. People involved in the marijuana business will be better placed in taking care of their basic needs and other requirements such as their health, education as well as different development initiatives. In addition, if marijuana will be successfully legalized, the health sector will have a boost in terms of getting medicinal value from marijuana. In fact, health facilities will economically benefit from the drug especially from the money obtained from the sale of prescription marijuana. If marijuana is legalized, there will be a need to conduct extensive medicinal research to come up with appropriate prescription drugs from marijuana. Thus, many people involved in the research will equally benefit since this will act as a form of employment to them. On the other hand, people

Old Man and The Sea :: essays papers

Old Man and The Sea In the novel The Old Man and the Sea, Ernest Hemingway uses the literary device of metaphors. Hemingway uses the metaphor of the ocean to symbolize life and to depict the role that individuals play in life. Hemingway uses the metaphor of the lions to signify people who live their lives as active participants. The tourists in the novel represent the individuals, who in observe their lives and are not active participants. In the novels that Ernest Hemingway writes, he uses metaphors to reflect his life experiences and opinions. The ocean in The Old Man and the Sea is a metaphor, which represents Hemingway's personel view of life. Hemingway believes that in life everyone must find their own niche and uses the metaphor of the ocean and the boats on it to demonstrate this. ...most of the boats were silent except for the dip of the oars. They spread apart after they were out of the mouth of the harbour and each one headed for the part of the ocean where he hoped to find fish. The old man knew he was going far out...1(page 22) Hemingway feels that in life there are people who participate in life and people who observe life as it passes just like on the ocean where there are boats that do not test their boundaries. The boats are the people in life, and most of the boats are silent. They paddle within the areas they know to be safe and always are cautious not to upset the life that they have established for themselves. Hemingway is explaining that most people don't raise a commotion, they just allow life to happen to them. The old man is testing his limits, he is challenging the ocean, and rowing where he wants to go not where the ocean wants to take him. Hemingway believes that in life, the farther person stays from the observers, the more free and exhilarated they will be. If there is a hurricane, you always see the signs of it in the sky for days ahead, if you are at sea. They do not see it ashore because they do not know what to look for, he thought. The land must make a difference too, in the shape of the clouds. But we have no hurricane coming now.2(page 51) Hemingway theorizes that in life there are going to be unexpected collisions. Just as the sea creates storms life creates storms. Those who live life to the fullest will be the least affected by these storms because they have the strength and the knowledge to handle them, but the observers or those on land will be destroyed because they do not have the power to handle the destruction that the storms will cause.

Marketing Introduction and Limatations Essay

Introduction In my assignment I will be writing about Two large business agency, Marks and Spencer’s, and British Heart foundation where I will explain about the different marketing techniques and strategies they use to undertake to promote their products and services. How they Brand their company and about relationship marketing. Marks& Spencer’s Marks and Spencer are a big franchise employing up to 78,000 employees worldwide but mostly in the UK. Marks and Spencer’s are one of UK’s leading retailers with annual sales of  £8 billion. They operate more than 450 stores in 30 countries, and serve tens of millions of customers every week. Marks and Spencer’s are only as strong as the communities in which they trade. They aim to please their customers and market in an easy and understandable manner. Marks and Spencer’s promote over thousands of products, from food to clothing, each product marketed in a different fashion. Marks and Spencer’s have used many strategies to survive the recession. Them being Growth, Branding, Survival and Relationship marketing. Survival Strategies They started by cutting jobs and closing stores. In January 2009 Marks & Spencer’s were planning to close 25 small simply food stores one being Croydon Valley retail store. They cut 780 jobs and 450 head office jobs. Sales plummeted in the 13 weeks leading up to December 27 2008, they fell by 7.1 %.Total sales fell 3.4 % in the UK. Other strategies they used to regain money were Pension cuts, Even though Marks and Spencer’s overall sales fell by 1.2% there was an international sales increase and online retail increase. The retailer made pension cuts to save the company  £175m –  £200million per annum. Chairman of Marks and Spencer’s Vandavelde (2009) gave a key speech on the recovery plan. â€Å"The previous plan was like feeding a tree that was already overgrown and unhealthy. What it really needed was serious pruning back. It had unproductive limbs that were hampering its growth and a lot of its best characteristics were lost in the foliage.† This is regarding the cuts that were being made. A strategy used by M&S is SWOT. SWOT is a method for analysing a business, its resources, and its environment. Marks and Spencer’s used the SWOT method for their food products. SWOT helped them discover: What the business does better than the competition. What competitors do better than the business? Whether the business is making the most of the opportunities available. How a business should respond to changes in its external environment. By using this method and braking down each sector they were able to research if there products would sell, and their competitors such as big organisations like Tesco would affect their up sales. Another strategy which Marks and Spencer’s use is known all the Boston Matrix. The main value for them using this is because it’s a useful tool for analysing product portfolio decisions. Constraints on survival strategies are the financial situation, resources and material. Cash flow is a common constraint to the sales systems. The financial constraint is usually internal. A resource constraint is also an internal limitation. Machinery, power and skills are some resources with constraints. Moving too slowly to get products to where they need to be is a internal constraint. Material is also a constrain due to where we are buying it from, are we paying for quality and receiving a product of quality or are we not spending enough to make sure our products are efficiently made? This is a external constraint. Relationship Marketing Relationship marketing has continued to evolve and move forward as technology opens more communication channels. This includes tools for managing relationships with customers which goes beyond simple customer services. They identify six markets which are connected to relationship marketing. They are: internal markets, supplier markets, recruitment markets, referral markets, influence markets, and customer markets. Relationship marketing is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication. This approach is there for results in increased word of mouth activity. Marks and Spencer have created customer loyalty by launching different campaigns promoting different products which connect with each customer. They’ve launched fashion campaigns, food campaigns and an online clothes shop. Marks and Spencer’s have now become partners with Tesco for Fair Trade campaigns; they now have a range of electrical appliances on sale to comply with what their customers want. Marks and Spencer’s customers want to be able to rely on them to succeed and meet their needs as individual customers rather than a group. While Marks and Spencer’s have created a relationship with their buyers and are constantly researching too find out what their customers want more or less of, there are also constraints and limitations with doing so. A market constraint is external. Marks and Spencer’s competitors are always changing strategies and competing in new and better ways to try and come out on top. A question which is asked within big businesses such as M&S is, is the market demand for our products decreasing? This is an external constraint, if there’s no longer a demand for the product then their profit margin decreases. A decrease in sales = decreased profit. Benchmarking is a strategy that is used by M&S for marketing this involves looking outside the box to examine how other organisations are achieving their performance levels and to understand the processes they are using to be successful. In this way benchmarking helps explain the processes behind excellent performances. Although this strategy helps M&S stay ahead it can also bring them down as changing your outlook and ideas can be a constraint, Managing change is a common constraint. Markets are dynamic and always changing. Organisations work to stay ahead of markets and their leading competitiors. Knowledge could be an internal constraint to success, this could become critical if survival is at stake. Growth Strategies Marks and Spencer uses the Mckinsey Growth Matrix, to expand and grow their business. Instead of trying to find out how other business have grown, the Matrix strategy argues to grow on your own strengths. They have developed there growth strategies based on : Operational skills, Privileged assets, Growth skills and Special relationships. By growing based on these strategies M&S have been able to keep their customer loyalty but also have been able to increase their products and launch new promotions to engage new customers, by using different approaches they have a better change to widen their customer satisfaction. Some of these products can be sold to existing customers who may trust the business (and its brands) to deliver but new customers may need more persuasion. Even though M&S base their growth on their on development they do analyze their competitors. They use recorded dare, opportunistic date and observable date. * Recorded data: examples include competitor annual reports and product brochures. * Observable data: good example is competitor pricing. * Opportunistic data: to get hold of this kind of data requires a lot of planning and organisation. Marks and Spencer’s have grown as a company by producing a wide range of products, by up selling and engaging in customer loyalty. Strategies that have been used are the foundation of growing. They have focused their marketing and sales on a specific target market this has improved effectiveness and speed the learning process. Unfortunately a common constraint could be an unresponsive market. Marks and Spencer’s campaigns have reeled in more customers but buyer Motivation is a must in all businesses, companies can often fail to provide incentives to motivate their buyers to purchase. A constraint which can be avoided is the follow up after sale. Once a product has been bought research should be conducted to find feedback on that product and if theirs a chance of growth from that product. Branding The brand of a product is very important when making your decision weather to buy something. People buy branded names due to loyalty. Either they no the quality is good or the product is always going to taste good. For example; going to Tesco and having the choice to buy, 23p Tesco value beans or 63p Heinz beans. Just because it’s not a named brand doesn’t mean the quality isn’t as good, there’s just no risk. Trust is the most critical component in building and maintaining a strong, emotionally driven brand. Strategies used to introduce their brand to the public is media. By promoting their brands its then known by existing and new customers. Many businesses such as M*&S use celebrities in their campaigns this is to engage the buyers and also make them aware that a celebrity likes the brand. Limitations Legal constraints: Marks and Spencer may be constrained by a variety of licensure and other regulatory requirements, based on the industry and activities the business wants to pursue. For example M&S sell alcohol so they will need to have a alcohol license before they are permitted to sell any alcohol. Sales of goods act 1979, This act requires trader to sell goods that are described and are satisfactory. Marks and Spencer’s sell products to members there for the information stated should be accurate and not misleading. For example : selling food which states that there’s only 130 calories in it but really there 600. This is illegal. Voluntary Constraint This is where a company voluntary state that they won’t do something, or they always will. For example: Marks and Spencer’s have joined forces with Tesco to sell Fair trade products, and they are also recycling old clothes to Oxfam. These things do not have to be done but yet they do they do them anyway to give them a better reputation with the public. Pressure Pressure groups can be extremely effective in changing organisational behaviour.

MSDS - Definition of Chemistry Terms

MSDS Definition: MSDS is an acronym for Material Safety Data Sheet.A MSDS is a written document that outlines information and procedures for handling and working with chemicals.Current MSDS documents contain physical and chemical property information, potential hazard information, emergency procedures, and manufacturer contact information. Also Known As: Material Safety Data Sheet

Biography of Ludwig van Beethoven - 746 Words

The change of music from Classicism to Romanticism couldn’t have occurred without the contributions brought by Ludwig van Beethoven. He was one of the most influential German composer and pianist of all time. Ludwig van Beethoven was born in Bonn, Germany on December 16, 1770. His mother was a singer in the service and his father was a court musician. His father noticed that Beethoven had a skill at a young age, and began teaching him piano and violin. Beethoven was a hard learner, self-involved and impatient. Gottlob Neefe, become young Beethoven’s mentor, he thought Beethoven was the next Mozart. By the time he came back to Vienna, Mozart had died so Beethoven took help from Haydn. Beethoven gave his first public performance at the age of eight and published his first works at the age of twelve. By 1800, Beethoven had become aware of his advancing deafness, absolutely the most horrible destiny for a musician and painful to a composer. Beethoven planned suicide, but in the end held life, determined to go on composing. He tried every treatment available but couldn’t find a fix. Through the last 10 years of his life, Beethoven heard absolutely nothing. However, he decided that he couldn’t let something like that obstruct his ability to compose music. Since he couldn’t listen to the music, he decided that he would use a different sense to experience it. He cut off the legs off his piano so that he could play it sitting on the ground and sense various sounds based on theShow MoreRelatedBiography of Ludwig Van Beethoven3909 Words   |  16 PagesSource: Encyclopedia of World Biography, 2nd ed. 17 Vols. Gale Research, 1998. Updated: 05/18/2006 TABLE OF CONTENTS Biographical Essay Further Readings Source Citation Updates BIOGRAPHICAL ESSAY The instrumental music of the German composer Ludwig van Beethoven (1770-1827) forms a peak in the development of tonal music and is one of the crucial evolutionary developments in the history of music as a whole. The early compositions of Ludwig van Beethoven marked the culmination of theRead MoreLudwig Van Beethoven: A Biography1318 Words   |  5 Pagesï » ¿Beethoven Ludwig van Beethoven is considered by many to be the best and most influential composer of all time. His imminence as a composer becomes even more remarkable when one considers the fact that he suffered severe hearing loss for much of his life and was totally deaf for the last decade of his life; the same time that he was composing some of his best-known and most highly regarded works. In order to understand how a man who could not hear the music he was creating became one of theRead MoreBiography Of Ludwig Van Beethoven s Symphonies1558 Words   |  7 Pages Ludwig van Beethoven’s nine symphonies are indispensable pieces of music and contributed to him being referred to as one of the most famous musicians in all of musical history. His symphonies are still played today and are recognized around the world. He is known as a symphonic master due to his nine symphonies. Ludwig van Beethoven was a German composer during the transitional period between the Classical and Romantic eras. Beethoven’s symphonies were greatly influenced by Haydn and Mozart inRead MoreBiography Of Ludwig Van Beethoven s Symphony1368 Words   |  6 PagesLudwig Van Beethoven was a prolific musician of the 18th Century who, in all his time, composed nine symphonies, one opera, five piano concertos, thirty-two piano sonatas, and many other string quartets and hundreds of songs . Throughout this essay I shall be focusing on the symphony that after four years of hard work and plenty alterations , was brought to life and to this day is probably one of the best-known classical pieces: Symphony No. 5 in C Minor. This piece contains great examples of musicRead MoreBiography Of Ludwig Van Beethoven s Work1474 Words   |  6 PagesLudwig Van Beethoven was born in 1170 and didn’t have the happiest childhood. His father would rather drink instead of perform music that was a trail of his family. Beethoven studied counterpoint with Haydn but the relationship between them was not a positive one. Beethoven would fulfill his early promise as a composer, he discovered in this late twenties that his hearing was gradually getting weaker. He would later became deaf and contemplated suicide. By his faith with art he would becomeRead MoreBiography Of Ludwig Van Beethoven s Symphony 964 Words   |  4 PagesLudwig Van Beethoven’s monumental â€Å"9th Symphony† was his crowning achievement from his long career. https://www.youtube.com/watch?v=DwpbcL8Fmdc is the link to view the concert! This piece was highly controversial, and most people at the time had thought Beethoven had finally gone mad when the truth is, he was just going deaf. While attention tends to focus on the choral finale, the opening of the work is every bit as momentous. He immediately established the key, which served as a logical bridgeRead MoreBiography Of Ludwig Van Beethoven s Moonlight Sonata 1635 Words   |  7 PagesLudwig Van Beethoven is one of the single most decorated composers and musicians in the history of mankind. The legendary German composer, though long deceased today, has left us with dozens and dozens of works composed and played by him for us to marvel at and understand the true meaning of music. Mainly known for his work and compositions with the piano, he composed pieces to be performed with multiple different instruments. My goal, however, is to explore one of the most popular compositions thatRead MoreBiography Of Ludwig Van Beethoven s Influence On The Development Of World Music957 Words   |  4 PagesLudwig Van Beethoven was born in Bonn. He born on December 17, 1770, and died on March 16, 1827. He was a German comp oser and musician, one of Vienna’s classical music representatives. His music had a great contribution to the world music. He set the culmination of classical music in the Classical Era (1750-1820), while opening up the road of the romantic music in the Romantic Era (1820-1900), played an important role on the development of world music. He created â€Å"nine numbered symphonies, 32 pianoRead MoreBiography Of Ludwig Van Beethoven s Life On All Levels Of The Greatest People That Ever Walked The Earth1228 Words   |  5 PagesDecmber 16th 1770 in Bonn Ludwig Van Beethoven was created to be soon form into one of the greatest people that ever walked the earth. As a composer, Ludwig Beethoven can be considered the equivalent of any of today’s stars of popular music. His trend setting compositions made music an integral part of life on all levels of society from the royal courts to the general population. His mass appeal can be attributed to his standard defying compositions that forcibly modernized the 18th century musicRead MoreLudwig Van Beethoven, One of the Greatest Composers of the Roomantic Period1099 Words   |  4 PagesThe Life of Ludwig van Beethoven Multitudes of music books recount the life of Ludwig van Beethoven and his contributions to music. There are many different texts that provide hard evidence that he was an individual who went on to become one of the best-known composers of all times. The early life of music saw many composers try to succeed with writing and publishing music. However, Ludwig van Beethoven emerged to become a crucial figure during the transition from Classical to Romantic eras

The Impact Of Technology On The World Of Statistical...

Introduction Technology is constantly changing and evolving – so it can be no surprise that it is having an effect on the world of statistical education. This paper takes a look at three different articles – The Guidelines for Assessment and Instruction in Statistics Education (GAISE) Report (Franklin et al., 2007), that presents information on statistical education as a whole and two other articles, Evaluating Data Analysis Software: The Case of TinkerPlots (Fitzallen, 2007) and The Role of Technology in Improving Student Learning of Statistics (Ben-Zvi, Chance, Garfield, and Medina, 2007) that provide a look at how technology is playing a role in facilitating that education. At a glance – it may seem as if The GAISE Report does not fit†¦show more content†¦It shows how statistics can influence our personal choices, citizenship, and our workplace/professions. The report then goes on to describe what statistical education should look like. The framework presented in the report is based off the National Council of Teachers of Mathematics (NCTM) and its Principles and Standards for School Mathematics published in 2000. The framework breaks down statistical education into four main components: 1. Formulate Questions †¢ Clarify the problem at hand †¢ Formulate one (or more) questions that can be answered with data. 2. Collect Data †¢ Design a plan to collect appropriate data †¢ Employ the plan to collect data 3. Analyze Data †¢ Select appropriate graphical and numerical methods †¢ Use these methods to analyze the data 4. Interpret Results †¢ Interpret the analysis †¢ Relate the interpretation to the original question (Franklin et al, 2007, p. 11) From there each component is broken down further into three different levels of understanding (A, B, C – with C being the highest level). Examples of satisfying or obtaining each level within each component are given and explained. The article also spends some time distinguishing what makes statistics different from mathematics and that difference is variability in the data. The framework provides an understanding for how variability effects each of the four components, in order; anticipating, acknowledging,