Friday, September 6, 2019

Economics and Global Business Applications Essay Example for Free

Economics and Global Business Applications Essay Elasticity of demand is a measure of responsiveness to a price change of a good or service. When demand is elastic, the percentage of a price change of a product will result in a larger percentage of quantity demanded (McConnell, p 77). It basically means reducing the price of a good service will result in a greater quantity demanded and an increase in revenue for the seller. When demand is inelastic, a change in price will result in a reduction of quantity demanded, which will then lead to a revenue decrease (McConnell, p 77). To demonstrate elastic and inelastic demand results, Company A sells 100 pens at $1.00 a piece each day, making their revenue $100.00. Company A then decides to sell their pens at $.50, which results in a total of 250 pens being sold. The total revenue from the price drop is $125, resulting in an additional $25.00; therefore the demand in this scenario is elastic. If selling the pens at the decreased price of $.50 would result in more pens being sold, but less total revenue, the demand is said to inelastic. According to McConnell, when demand in unit elastic, the percentage change in price and the resulting percentage changes in demand are the same. The change in price will not increase or decrease revenue. Cross price elasticity measures the response of demand to a change in price of another substitute or complimentary good (McConnell, p. 87). Substitute goods are goods that can be purchased in place of another good. Examples of substitute goods are soda (buying Coke vs. Pepsi), computers, and potato chips. A positive cross elasticity of demand means the increase of price in one good, for example Coca-Cola, will increase the demand of a substitute good, for example Pepsi. As the price for Coke increases, consumers are more likely to purchase Pepsi at a lower price, thereby increasing its demand. Complementary goods are items that are typically purchased in conjunction within one another. Examples are ringed binders and notebook paper, pencils and erasers, and potato chips and dip. A negative cross elasticity of demand in complementary goods means that the increase in price of one good, an example being potato chips, will decrease the demand for the complementary product that goes with it, the dip. Income elasticity measures the responsiveness of consumers to changes in their incomes (McConnell, p 88). Demand for normal goods tends to increase as consumers’ incomes increase and conversely, demand for inferior goods tends to decrease as consumers’ income increases. Demand is elastic where there is a large availability of substitutes. The reason for this as the price of a good increases, if there is a large amount of substitutes for this particular good, the consumer will choose the substitute. As discussed earlier, soda is an excellent example of this elasticity. Airline tickets are another example. As one airline raises its cost of a ticket or to even pay for a bag to be checked, a consumer will more likely choose a cheaper ticket or an airline that doesn’t charge for baggage over the original. If there is no (or a very limited) amount of substitutes for a good, elasticity is said to be negative. A price change in medication will not likely change the behavior of a consumer relative to demand since there isn’t a substitute to taking the medication. Household utilities are another example of a limited amount of substitutes. In discussing the proportion if one’s income devoted to a good concept, the household budget comes into play. In a given month, households pay for many different good and services. A change in price may or may not affect the households demand for those goods and services. Often, it is dependant on how much of the household budget is devoted to that good or service. Mobile phone service is an excellent example of a service that will most likely have a large amount of a household budget dedicated to it. A change in price in the cell phone service will most likely result in that family making a decision to change to a cheaper service, since that will have a large impact on their budget. On the other hand, that same household may purchase light bulbs each month. The amount of money dedicated to the purchase of light bulbs is so small, that a price increase will not likely affect the budget, therefore the family will not likely make a decision to change to a cheaper bulb. The concept of time when discussing demand is important. When a consumer has a large amount of time to decide on the purchase of a good or service, the elasticity is positive. Conversely, if there is little time, the elasticity is said to be negative. According to McConnell, and excellent example of this is gasoline for automobiles. Gasoline prices change daily and more often than not, prices rise. A family, who owns a car and is dependent on that car for work, etc, will not likely stop buying gas in the sort-term, because it is crucial to their everyday living. However, that family over a long period of time may decide to find alternate means of travel, decreasing their demand for gas. Using the graphs for elasticity of demand and total revenue, areas of elasticity, inelasticity and unit elasticity have been identified. Demand is elastic between the prices of $80.00 and $50.00, meaning the demand increases as the price decreases, resulting in an increase of total revenue. Between the prices of $50.00 and $40.00, the demand in unit elastic, meaning the percentage of drop in price resulted in the same percentage of increase in demand. Revenue remained unchanged in this price range. Between the prices of $40.00 and $0, the demand is inelastic, meaning the price drop has resulted in an increase in demand, but not enough to over come the decrease. Total revenue has been negatively impacted.

Todays Educational System Essay Example for Free

Todays Educational System Essay What is wrong with the education system we follow today in the country? The general education system is focused only on examinations rather than training students for the future and really testing their knowledge. Because of this, students are forced to take tests that show only their retention powers, not their actual capacity or knowledge. So engineers today cannot do actual work in technology and doctors do not go to people who need their services. Is the problem with the system or the approach towards education as a whole? Today, students are completely professionally-oriented and they take examinations for the same rather than to gain knowledge, or do research in the subject. In our colleges, we have infrastructure and good faculty, but there is no motivation to do research. Even in the field of medicine, no one is motivated to do research because everything is so examination and job-oriented. But that is also a requirement of today’s times. Yes, but not at the cost of real learning. India’s education system looks at commercial gains only and students are trained to look at their monetary future. The curriculum is also built around clearing an exam and getting into particular professions. Learning is not a priority. So who is at fault for this mess? Those regulating and those making policies are equally responsible. If the system has deteriorated to this level where learning has been substituted by a race to clear an examination, regulators and policymakers are to blame for not acting on time to correct this anomaly. It’s also not enough to have rules and regulations, it is important how they are implemented. Government bodies are not controlling institutions. That should become a priority. Also, for good institutions that are promoting real learning, there should be no interference. Is the present practice of allowing the private sector indiscriminately into education the right approach? Most educational engineering and medical colleges owned by the government are not equipped in terms of infrastructure and faculty and their quality has been suffering. The better government institutions cannot accommodate the vast number of students who are seeking to get into them. So the need for the private sector comes in. They are filling the gap. But private sector institutions also charge very high fees. Yes, many of the private institutions take advantage of the situation and charge high fees. There are very good students in rural areas but they can’t afford good education today. In some states, the government does regulate fees, including your state (Tamil Nadu). Yes, but instead of concentrating on just the private sector institutions, the government should strengthen and improve the quality of the government educational institutions. Once that is done, quality education will become affordable and everyone would be willing to join them. Now the standard of these institutions, barring a few leading ones, has gone down so much that no one wants to go there. Everyone is going to private sector colleges, even at a much higher cost. â€Å"The combined engineering entrance exams is a good idea. Without it, many rural students will not be able to get in.† What’s the solution? How can we put the system in order? One way to do this is through public-private partnership. It has succeeded in many sectors, so why not in education? The private sector can develop the institutions and provide infrastructure and the government can build the curriculum and run them. In fact, policymakers, professionals and the public should come together with an aim to build good educational institutions. It is good to have as many universities as possible, because many students do not get an opportunity to get into good colleges. But the government should have a strict control on every aspect, like infrastructure, faculty, facilities and curriculum, right from the time they are set up. There should be a periodic accreditation system where once every two years institutions seek accreditation and the regulatory bodies check if all norms are being followed, for it’s often seen that once a sanction comes through, institutions openly flout norms. Corruption is rampant at institutions as well as regulatory bodies. Yes, and seats are today sold for a lot of money. This is because private institutions spend a lot of money to set up infrastructure and they try to get that back in any way—scrupulous and unscrupulous. This is something that needs to be totally weeded out. There is a big debate on the combined engineering examinations. Is that a healthy idea? It is a good proposal and should be extended to the medical colleges too. Without the entrance exams, many rural students cannot get in because those from the big cities have the advantage of coaching and scoring high marks. With a common exam, everyone will be on an equal footing. Your institution, Aravind Eye Care Group, has set examples of fair play and stands out in this system with values and principles. How do you continue to do that? We have set our own standards and we select purely on merit. Our tuition fees are not enhanced to suit our needs and we provide value-based education. We ensure that adequate facilities like infrastructure and faculty are available before we start a course. We cannot forget that students sacrifice a lot to come to learn. And we do periodic evaluation. Is there anything you want to tell today’s students? They must remember that college education is the basic foundation. It’s the only place they will get to learn. Once they are outside, they will have to practise what they learnt herethey will not get a chance to learn outside. So they should seize the opportunity, make the most of it.

Thursday, September 5, 2019

Ethnographic Study of the Informal Sector

Ethnographic Study of the Informal Sector INTRODUCTION The informal sector will be understood through an exercise of selling of paper clips as street vendors for a period of seven days. Paper clips are a stationery item used for binding papers together and are used by students, offices, lawyers, and government officials amongst others. However today, the availability of substitutes like staplers (a creation of technology) has challenged the utility of the commodity. The informal sector is that part of the economy which is not taxed, monitored by any form of government or included in any gross national product (GNP), unlike the formal economy. In 1997-98, the informal economy generated nearly 76% of employment and nearly 46% of the income in Mumbai. Despite their physical existence and the millions involved in it, for sheer survival, their ‘official’ ‘invisibility’ makes them ineligible for most statutorily ordained benefits and allowances. PREPARATORY STAGE A pre-sales activity was conducted to understand the potential target group. The interactions revealed that most consumers don’t have a requirement for this product, as staplers are a more reliable paper binding solution. The pre-sales research revealed that paper clips are sold in quantities of 100 clips a box. Based on the findings, a sales model was developed wherein the bulk of 100 clips would be resold 10-12 clips in plastic pouches. This would allow people to purchase small quantities and also convenient selling. The model adopted is similar to wholesaler-retailer supply chain model wherein the retailer makes bulk purchases from a wholesaler and sells smaller quantities to the customer. A similar model is used by street vendors who buy in bulk and retail smaller quantities. A cost-plus pricing strategy was adopted and a profit margin of 200-300% was agreed upon, which would be reduced through the course of the exercise until enough capital was accumulated. In addition to repacking, a packaging strategy was adopted. Zip lock plastics would be used to package the paper clips, thereby adding value to the commodity. Purchases of both the paper and the packaging material were made from the wholesale market in Abdul Rahman Street, Crawford Market where stationery is dealt with in wholesale quantities. Due to capital constraints, stock could not be purchased in bulk, limiting our bargaining power. It was decided that any profits incurred on the first day, would be ploughed-back to maintain a better inventory status. Locations selected for selling activity consisted of areas frequented by office goers, students and children. The objective set for the selling exercise was to cover costs and make profits by adopting a sales maximization approach through the use of strategies like customization, price discrimination, bundling, advertising, and market segmentation. EXECUTION STAGE Due to dearth of capital on the first day of our study, a sufficient stock of paper clips was purchased but did not allow for purchase of packaging materials. Waste packaging materials from the streets of Crawford Market was used as a substitute for the ‘zip lock pouches’. A huge profit margin was targeted on the first day that would generate capital to fund better quality packaging for the remaining days. The entire experience over the 7-day period is illustrated in the table below (refer Appendix I). Day Location Rationale for Location Experience Day 1 Fort, Outside Bombay High Court Potential Buyers: lawyers and office goers.  ·Problem arose because people returning home from work and lunch did not stop to indulge  ·Prices were very high so sales were slow.  ·Selling on the wrong side of the road and changed position to target people going towards the station. Day 2 HR, Jai Hind and KC College. Potential Buyers: Students, who have utility for stationery, especially females using customization and improved packaging material.  ·Customization and product bundling proved to be very effective. -The colored and fancy paper clips were sold out, despite higher price Zip locks used resulted in quick sales  ·Right time for sales (1pm onwards) when most students were done with their lectures. Day 3 Street Vendor Fair, Outside St. Michael’s Church, Mahim To study the variation in the sales of the commodity on a normal day in comparison to ‘special occasions’  ·Relatively easier to sell during a ‘fair’ or during special occasions  ·People are more willing to buy when exposed to multiple commodities within a given space. Day 4 Marine Drive To understand variation sales in a tourist and recreational spot  ·The price was lowered as a larger stock was procured due to profits from the previous day  ·Concentrated on sales promotion strategies by giving off free units to girls who purchased packets  ·Strategy was successful (word-of-mouth marketing played a significant role) Day 5 Trains, Central Line – CST to Dadar (Return) To understand the variation sales in a mode of transport  ·The female partner made large sales in the ladies compartment of the while the other partner was unsuccessful in the general.  ·Women are more approachable on trains which can be attributed to the large number of sellers in the women’s compartments on trains  ·Buying behavior exhibited by women is primarily an outcome of ‘novelty value’ of the products being sold Day 6 Marine Lines Station To sell amongst other street vendors and understand the dynamics of street vending.  ·Holding up a banner to ‘advertise’ the product did not work in the informal sector  ·Other experienced vendors came and interacted with us, passed comments and also ridiculed us. They moved away after they didn’t see a threat to their business  ·Interaction with vendors: On asking about the ‘hafta’ to be paid, they refused to speak to and turned away An unsuccessful sale as it was a Saturday.  ·Interaction with authorities: A BMC truck came to evict the vendors, confiscating their supplies, politely asked us to move Day 7 Republic Day Parade, Marine Drive To understand how national holidays have an impact on sales in the informal sector  ·Stood beside a flag vendor considering people might need clips to put on the flags.  ·No sales took place as people were engaged in watching the Parade EVALUATION STAGE Theory versus reality On engaging with the market on a first hand basis, we came across the following economic concepts while studying various sales strategies to maximize our sales in order to keep earning a profit. :- Monopoly firm: Since we were the only sellers of this product on the streets, we had the liberty to use price discrimination along with product differentiation. We gauged our targets and according to their outlooks and then decided the price to charge them. Price discrimination:-the same products were sold at different prices in different spaces to different consumers. First degree and third degree price discrimination was adopted. Under this the firm charged different prices to different set of consumers. For example while selling in the High Court premises; we sold the small quantity at Rs. 20 a packet to lawyers while we sold the packet to women in trains at Rs.5. In the former case, the entire consumer surplus was converted into the firm’s revenue and profits. The concept of third degree price discrimination was used here where groups having inelastic demand (lawyers/office goers) were charged a higher price compared to the women in trains who had elastic demand for whom the price was comparatively lower. The theory of price discrimination did not work for us as instead of playing with consumer surplus to make profits, we ended up just covering costs per day, neither did it minimize our costs nor did it increase output. Moreo ver the experiment of just 7 days was too short to judge this concept. However, the law of demand was justified wherein there is more demand when there is reduction in price. The elasticity was 1.0195 which is relatively elastic. However, from the interaction in the market we found out that it is inconsequential and hence, nullified. (Refer Appendix II) Product Bundling: The firm offered several products for sale as one combined product. It is a common feature in many imperfectly competitive product markets. The firm used the technique of bundling to create more demand and capture the market. For example- instead of selling big metallic binders, metal U- clips, colored U-clips and fancy clips separately we bundled them together and sold them as a packaged deal at Rs. 20 targeting the college students. This concept worked for us. Sales maximization: was set as possible goal which occurs when the firm sells as much as possible without making a loss. We implied this strategy wherein we after a point where we had covered all our costs, we concentrated on selling as much as we can even if it is at a low profit margin as long as there was no loss. This helped us in earning our revenue and capital for next days. Thus, the application of this theory was successful. We also came to the conclusion that paper clips as such are not a commodity that a street vendor would sell. It is more likely to be found in stationery shops as they serve a market which requires all these goods. Lessons Learnt: Operating in the informal economy showed us that there existsno perfect knowledgewith respect to commodities being sold (in terms of availability and price).Venturing further into the streets of Crawford Market revealed that the commodity sold is much cheaper when compared to the peripheral shops. The procurement exercise highlighted the prevalence ofinformation asymmetry. The presence of street vendors is a menace for commuters but a boon for the working poor by providing goods (sometimes necessities) at a substantially cheaper price. The survey revealed that most street vendors require credit in order to start an enterprise but were often denied access due to lack of collateral but they haven’t applied for any loans due to a variety of reasons. They are not well aware of the government policies and are subjected to constant evictions by the municipal corporations as we observed when the street vendors were made to flee the scene when the BMC truck arrived at Marine Lines station during the course of our study. An important aspect is the self-employment, which is an important component of the informal sector that allows this section of the urban poor to earn income but is also classified into different types of employment like employees, middlemen, and unpaid family members or self-employed. Thus, the informal sector acts a livelihood-sustainin g platform. Interactions with street vendors, it was found out that they suffer from problems like hypertension, hyperacidity migraine attacks and severe backaches. Another aspect revealed was the participation of women. Women form a significant proportion of the informal labor force. (Refer Appendix III for Survey Questionnaire and Appendix IV for results/findings). Policies in place: The National Policy for Urban Street Vendors, 2004 was the first policy that called hawkers as â€Å"vendors† in designated areas called hawker zones and non-hawker zones and to ensure absence of congestion and maintain hygiene in public spaces and streets. Policy of Housing and Urban Poverty Alleviation, 2009: By the National Commission on enterprises in the unorganized sector, this bill has not been introduced so far. It does not focus on natural markets like railway stations, depots, taxi stands, etc. Heavy fines are levied on unregistered sellers and their goods are confiscated. Non perishables are left off with heavy fines; however, fruit and vegetable vendors lose everything. The â€Å"Panchnama† of confiscated goods is not issues by policemen and records are not maintained. National Policy on Urban Street Vendors, 2009: It reports the conditions of work and promotion of livelihoods in the unorganized sector. It provides a constitutional angle to practice any occupation. For example: Right to adequate means of livelihood, Article 14, 19 (1) (g), 38(2), 39(a) and 41. Suggestions:- Registration must be made compulsory for street vendors by issuing licenses to prevent illegal rent seeking activities in the form of â€Å"haftas† from officials and thus, providing them with recognition. Incentive to register can be provided to street vendors by providing subsidized healthcare to registered vendors. Cheap housing and accommodation or slum rehabilitation can be provided to register street vendors as most of them are migrants from all over the country. A mechanism to file a PIL must be established for the street vendors to seek redressal for confiscated goods. Alternate spaces should be allotted for their activities if the area has to be cleared of such activities. For example, the shift of Agra Market during the 2010 Commonwealth Games. Stricter laws and there enforcement is necessary so that illegal hawking is avoided and they do not seem a nuisance to the commuters. In this way, both parts of the society can live in harmony.

Wednesday, September 4, 2019

Essay --

It is widely known that in EFL learning situations, many students â€Å"exhibit fear of foreign language speaking† (Yaikhong & Usaha, 2012, p. 23). In Asian countries, EFL learners suffer even more in language classroom anxiety because of insufficient language environment. According to Scovel (1978), anxiety in language learning is â€Å"a state of apprehension, a vague fear† (p. 134). Such anxiety may exist in many aspects of language learning process. Language classroom anxiety is one of the most common concerns. Many researches showed that students’ classroom anxiety will greatly affect their language learning effect (Young, 1986; Horwitz & Young, 1991; Phillips, 1992; & Aida, 1994). For example, Wariyachitra (2003) stated that classroom anxiety will reduce students’ motivation in communication, and if students avoid interaction in English, they will not succeed in learning the target language. Arnold and Brown (1999) believed that anxiety might be the most important reason that causes obstruction of language learning. Another researcher Boonkit (2010) did a research in Thai, and the result revealed that the undergraduate students are not confident enough to communicate in English, even in language classrooms. These findings tell us many EFL students are lack of communication opportunities, which are very crucial to their language learning, because they dare not use the language. In the learning process, this classroom anxiety is the key element that causes students’ lack of confidence and poor language performance. In China, situations are quite the same. Reading, writing, even listening are always much easier for Chinese EFL learners, and Speaking is always the most suffering course. People don’t have chance to speak English in their ... ...age skills and cognitive abilities. Harris, etc. believed that students with speaking anxiety will â€Å"often avoid anxiety-producing social or performance situations†, because they don’t know how to change their negative response in such situations, if they cannot avoid such situations, the will suffer a lot (2002, p. 543). The problem is what will happen after they repeated suffering and practice? Can they improve themselves with proper training and sufficient practice chances? Few researchers have done investigation in this field. In this study, I will try to answer the following question based on previous researches and a survey: a) Can EPS tasks lead to EFL students’ language classroom anxiety reduction? b) Can EPS tasks lead to EFL students’ language public presentation improvement? c) Is there any relation between students’ anxiety level and language performance?

Tuesday, September 3, 2019

Ageism In Playboy :: essays research papers

Ageism in Playboy Definitions: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Content analysis is the process of picking apart and closely observing a subject matter. 2)  Ã‚  Ã‚  Ã‚  Ã‚  Ageism is the discrimination of people based on their age. Hypothesis: That I will find no women over the age 30 pictured in an issue of Playboy Magazine.   Ã‚  Ã‚  Ã‚  Ã‚  In this paper I plan to prove that the hypothesis stated above is true because in society youth is considered a both beautiful and desirable quality to posses. Because Playboy Magazine is a popular magazine aimed at male readers, and because this magazine uses both youth and beauty to sell itself, it could be concluded that men desire female images that manifest beauty in youth. I chose to look at Playboy because Playboy’s interest is to sell magazines that satisfy the desires of males. Why does Playboy satisfy the desires of males? It is because in their magazines women between the ages of 18 and 29 are featured nude displaying the youth that their bodies posses. I chose to test this hypothesis by looking at Playboy’s 1997 January issue and reading the descriptions of the models such as their height, weight, bust, hips, and most importantly age. This particular issue happened to have all models in the running for Playmate of the Year so I had 12 sub jects to observe. If this hypothesis holds true, then the real underlying question will surface: What makes youth beautiful? My hypothesis was proven true to a certain point. As I thumbed through the twelve models in the running for Playmate of the year, as I suspected, none of the models were over the age of 30. The oldest of the 12 models was age 26. However, my hypothesis stated that I would not find any women in an entire issue of Playboy, not just the models. On page 51 of the 1997 January issue was and interview featuring Whoopi Goldberg. There was not one, not two, but three photographs of the 41-year-old actress. In this entire issue of Playboy, there was a woman over the age of 30; thus my hypothesis was proven wrong. However, I still conclude that ageism still existed in this issue of Playboy Magazine. Why? The answer is because no models over the age of 30 had been chosen to appear nude in this issue. I believe it is because Playboy wants to portray youth as beautiful to its selected reader. The firm bodies and youthful smiles of women under the age of thirty is what Playboy’s editors con sider beautiful.

Monday, September 2, 2019

A Student Looks at Hate Speech and Hate Web Sites :: Sell Websites Buy Web Sites

A Student Looks at Hate Speech and Hate Web Sites Before delving into the ethics of hate sites, a definition of hate speech is required because it is the foundation of these 'hate sites.' Hate speech disparages someone because of an immutable characteristic of that person - such as his or her race, gender, or ethnicity. It's been around for many years, and was primarily confined to pamphlets, books, magazines, and flyers. These media channels were prohibitive. Publishing a single pamphlet could cost hundreds of dollars, assuming that some printer would agree to handle the job. The Internet revolutionized the propagation of hate propaganda. Slick websites could be created for very little money. People can join from across the country using chat groups, making the cost of organizing considerably less. Once organized, a hate group can use the Internet to disseminate its message or to destabilize the messages of opponents. More and more hate groups have been adopting the Internet as its tool. "Hate sites on the Internet increased by 56 percent, from 163 in 1997 to 254 in 1998."1 Banning hate speech from the Internet was discussed in the Supreme Court case Reno v. ACLU, decided in 1997. This case arose after the Congress passed the Communications Decency Act (CDA) as part of the Telecommunications Act of 1996. CDA was passed because of the concerns regarding the easily accessible pornography on the Internet. The CDA was created to restrain accessibility to minors, but it was challenged because it had the potential consequence of limiting adult access to protected speech. In the decision, Justice Stevens rejected CDA, saying it "threatens to torch a large segment of the Internet community."4 In addition, he recognized that the Internet deserved full First Amendment protection. In the early 1990s, the pro-life group known as the American Coalition of Life Advocates (ACLA) distributed WANTED-style posters listing the names, addresses, and phone numbers of 12 people, labeled "THE DEADLY DOZEN." The posters offer $5000 reward for information leading to arrest, conviction, and revocation of license to practice medicine. The listed doctors were advised to take caution, wear bulletproof vests, and were offered 24/7 marshal protection once the FBI was alerted about these posters in 1995. Some of the group's intended audience took these posters seriously and began shooting at and sometimes killing the listed doctors. On October 26, 1996, Planned Parenthood sued ACLA in the U.

Sunday, September 1, 2019

Dissertation writing Essay

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