A Reflection Essay

A Reflection Essay A Reflection Essay A Reflection Essay Paper: Writing Tips A reflective essay is a paper that basically describes your views and feeling about some particular subject. The goal of it is to convince the personal experiences and feelings that resulted. Unlike many other types of essays the purpose of this paper is not to discuss the subject, but to explore the ideas. To Write A Reflection Essay: Getting Started Before writing find the topic. There can be one major or several small topics. When you choose a topic fora reflection essay, think about the information that you have learned and interesting facts that brought you some new knowledge. It should be wide enough to raise the interest in reader. Consider at least three-page reflection essay writing. The main part of a reflection essay has to include: Keep to the basic rules of five paragraph essay: Write an introduction paragraph that gives the information about the author and the document Develop your idea by dividing it into several important points and, therefore, into several paragraphs Give solid background information Use topic sentences Provide some sense of the importance of your writing for your own faiths development Use good sentence structure, avoid sentence fragments and fuses sentences, choose language that expresses your meaning While writing a reflection essay you should provide your own experiences in an interesting manner, however carefully consider your target auditorium. It is very important to get the reader involved in the story. A reflection essay is like playground for good presentation of ideas and experiences of the writer, they allow him to grow. The successful reflection essay will involve the reader in the writers ideas, emotions, and experiences. Thus, you should use vivid writing style, different linguistic tools and analyze the audience carefully in order to engage your reader as much as possible. A Reflection Essay Writing Help If you need help in writing your work or you simply do not have time to make a research and to prepare it, you are welcome to become our client and receive a professional help in your task overnight. It is easy and very convenient. Read more: Essays on Patriotism Assignment Help Writing a Critical Essay Synthesis Writing Steps Custom Writing Service

The Muhammad Ali Center

The Muhammad Ali Center Free Online Research Papers As I walked into the Muhammad Ali Center I read a mission statement in bold black letters, it stated â€Å"To preserve and share the legacy and the ideals of Muhammad Ali, to promote, respect, honor, and understanding and to inspire adults and children everywhere, to be as great as they can be. Cassius Marcellus Clay Jr. later known as Muhammad Ali, was an African American boxer, and was proud of it. Many African Americans were ashamed of their color, but Ali was different. He was the first boxer to win the Heavyweight Championship 3 different times. He had a great personality and was liked by the people. During his life, he made big decisions that changed the course of his life completely. Muhammad Alis journey through life was a great inspiration for African American people, but Ali himself inspires admiration to everybody. Muhammad Ali was a man made to box. He had a great career before him since he made his first professional fight under President Eisenhower presidency. Through hard work and discipline, he became a professional fighter and eventually the heavyweight champion of the world. Although he lost the title twice, he regained it three times, putting him in the history books. His boxing career was put to an end when he started suffering from Parkinsons disease. This was the end of his boxing, but his greatness will never die. Muhammad Ali wanted to see peace in the country, especially racial peace. Also, he was not totally convinced with the idea of segregation because it is not good to make people be together against their will. This way of thinking and qualities is what Malcolm X saw in Ali, and therefore thought Ali could be a great messenger for the African Americans .Alis ideas and actions distinguished him from the rest, he was an inborn leader. During his life, Ali was forced to make some tough decisions, and always made them his own way. At the time of Alis fighting, the United States were involved in the Vietnam War. As a result, young Americans were been drafted to serve in the military. When political figures saw Ali fighting, they decided to stop the hurting of our own and draft him, so he hurts the people in Vietnam. Ali was not pleased with this decision, because he had just won the Heavyweight Championship and because he said, I aint got no quarrel with them Vietcong. His final decision on the issue was that he would not go to war. He was not willing to go and kill people, while his own are in bad conditions at home. In the same way, he was forced to decide if he wanted to become a billionaire and sell his people, or to become poor and not sell his people. For this rebel action, his Heavyweight Title was taken away and he was put in jail. This did not matter to him because he had followed his beliefs and obeyed All ah. He has taught his people a lesson, and that is what satisfies him. Alis strong beliefs cut his uprising career and took away his greatest years as a person and as a boxer. A very important quality that shapes Alis personality is his faith in religion. Ali risked his whole career in making a choice, right or wrong. To his eyes, the correct action was to stay and face the consequences, but not go and kill innocent people. He did not agree with discrimination, and said, People are people: God created us all. Ali was Muslim and changed his name because he had the name of his father which was passed down from a slave master. He followed his beliefs strongly and without hesitation. He went to jail because he preferred to follow Allahs laws than the land laws. His actions were greatly criticized, but also greatly supported. The country was divided in two during the time Ali and the Vietnam War were alive. The Civil Rights divided the country in two. The first group was those people that did not have an opinion on the War, so they approved it. This people thought that Ali was bad, they even feared the champion. They thought he was manipulated by his religion, and was dangerous to the society. In the other hand, the second group of people that thought the war was wrong and wanted to put a stop to it. They viewed it as a waste of time and resources. This people supported Ali and liked him. Ali was different. He had such a strong personality that he did belong to the anti-war group, but, did not participate in the organizations. He stood alone and this made him stand out. His ability to unite people under one cause made him very special and liked by most people. Muhammad Ali was different from other African Americans because he saw himself as equal to a white man. He did not think of himself as less or inferior, he even considered himself, The Greatest Muhammad Ali had a very high self-esteem and this gave him the motivation and confidence to do what he wanted. In his opinion, Black people wanted a country of their own, a country they could run and look for. Black people deserve this, because African Americans will never be free in this country, a change has to occur. The white people have brainwashed all African Americans in thinking only white is good. This kind of thought makes black people feel inferior and therefore are inferior. Ali had a good control over young kids because they looked up to him. He told this kids that the primary key for his successful career and victory in fights was that he won intellectually first, and then fought. To have this intellectual skill, go to school and get educated, then, African Americans may start r ising. Ali tried to make it possible for more and more blacks to succeed in life. Muhammad Ali had never visited South Africa due to the fact that the white government of that country was racist. The black people were treated really unfairly and without compassion. Finally, he decided to make a twelve-day visit to this country. People still regard him as the greatest and many people listen to him. Ali is just glad that at least in some places, discrimination is decreasing, but he is still fighting to solve it in other places. Muhammad Ali gave speeches, visited places and met people. At the time he visited the country, assassinations, riots, and violence were taking place. Ali had the power to and influence with his presence to keep the peace and change the behavior of millions of Blacks. He is a positive image and example to many people, his only presence influences and impacts people greatly. Ali has been deteriorated physically by Parkinsons Disease. Ali sees this as nothing, and wants to help people that share his same misfortune. His goal is now to help everybody who needs it, so he is backing up a research on the disease to try and find a cure. He is hoping his name will inspire people to unite for this cause and help in the research. Also, many people would think that Ali is now defeated and finished, but for him, boxing was the introduction to his life. He views that boxing introduced him to life and now it is when he has to live. He has to act to stop discrimination, especially racial, worldwide. Also, the world is filled with crime and hunger. He wants to help this people and stop these wrong actions. With the support and image Ali has, he may be able to help current leaders, as he helped his black brothers, solve this threatening problems. Muhammad Ali is a man of class, honor and intelligence. He has taught not only his Black brothers, but also everybody in the world we are all equal. To African Americans he is very important for his support. Muhammad Alis journey through life was a great inspiration for African American people, but Ali himself inspires admiration to everybody. His ideas and actions give us all an example of what it is to really believe in something and risk losing it all for doing what is right. Alis actions and decisions showed us he was not afraid of failure. His tranquility and determination made some people admire him. He made his decisions and stuck to them. Like he said, And now the whole world knows that, so far as my own beliefs are concerned, I did what was right for me. Not only did I see the mission statement as I entered the center I couldn’t help but stop and read it again before I left. While reading it again I thought about the cafà © exhibit where you walk in and the bell rings a voice says, â€Å"Get out we don’t serve your kind.† The cafà © exhibit let me experience some of the feelings my ancestors had for decades however I experienced this feeling for only a few hours. I learned that Muhammad Ali not only paved the way in the ring he had a hand in paving the way for many African Americans and their right to equality. At the center I also learned a lot of history on Ali and his journey. Research Papers on The Muhammad Ali CenterThe Effects of Illegal Immigration19 Century Society: A Deeply Divided EraCapital PunishmentThe Fifth HorsemanHip-Hop is ArtBringing Democracy to AfricaComparison: Letter from Birmingham and CritoAppeasement Policy Towards the Outbreak of World War 2Quebec and CanadaWhere Wild and West Meet

Avon Essay Example | Topics and Well Written Essays - 500 words

Avon - Essay Example Manufacturing, product management and sales were coordinated efficiently throughout its global market (www.dsef.org). Major products to be sold were’ perfumes, skin care products, hand, body and sun care products’. New and innovative products were added from time to time to offer more variety to the consumers. As with all businesses, the company faced stiff competition from other players in the field and had periods of slump in growth and profits, along with take-over attempts which the company was able to tide over under different managers. One such manager was a woman, Andrea Jung who was of Chinese descent and joined the company in 1994 as the President, Product marketing Group in the United States of America (www.avoncompany.com). Later on she was appointed as the CEO of the company in 1999 and was elected Chairperson in 2001. It was during her tenure that the cosmetics giant again suffered disappointing growth rates in the year 2000, faced with the rapidly changing marketplace (weblog.xanga.com). It was then that she implemented a number of grand strategies to reinforce the company image and induce a positive growth rate. The strategy included â€Å"expanding the product line in order to cater to a wide variety of populations of varied ethnicity of the world, involvement of a wide v ariety of distribution methods, entering the retail market and launching of internet sales for its products†. The grand strategy resulted in appositive growth rate by 2002 and during the period 2002-2005, the company posted a revenue growth of 9.1% which was much better than its nearest competitors (weblog.xanga.com). Major success was attributed to the expansion and diversification in product strategies as a result of market research studies initiated at the behest of Ms. Andrea Jung. The company’s average return from investment during this period catapulted to 35.7% as

Offsite construction Essay Example | Topics and Well Written Essays - 2000 words

Offsite construction - Essay Example From this research it is clear that offsite construction refers in general to construction techniques where the some portion of the construction activity is carried out at locations outside the construction site. Pre-fabrication is another term used in the context of off-site construction. The UK Government has also coined the phrase ‘Modern Methods of Construction’ to refer to off-site construction techniques. The portions fabricated off-site are referred to as components or modules, and these are integrated into the building shell at the appropriate stage in the construction. Innovations in manufacturing technology have improved the quality and effectiveness of pre-fabricated components, and changing lifestyles and demands of the public have increased the suitability of these technologies in the house building industry. The government too has increasingly become interested in these Modern Methods of Construction as a means of providing quick and affordable solutions to meet the ever-growing demand for new housing. Various governmental organisations too have posted the latest developments, policies and programmes related to the field of off-site construction on their websites. The results and details of recent studies conducted by government agencies to compare conventional construction with off-site construction are also available on the Internet. These sources will also form a part of the study, and will help provide an understanding of the approach adopted by the administration towards the modern methods of construction.

Education and equality of opportunity Essay Example | Topics and Well Written Essays - 500 words

Education and equality of opportunity - Essay Example Equality of opportunity in UK’s higher education system is provided for by the transparency practices observed during admissions (Schuetze & Slowey, 2013, p.269). The higher education admissions boards shun discriminatory practices when selecting and admitting students in higher learning institutions. This practice is consistent with the legal provisions that enforce right to education. In other words, gender, class, age, ethnicity, faith, disability, wealth, and sexual orientation are not the determining factors for admissions purposes (Brunswick, 2012, p.183). However, this does not rule out the occurrence of discriminatory practices in the UK education system. Cases of failure to admit qualified students have been reported, thereby raising concerns about the extent to which UK higher education system provides for equality of opportunity (HEFCE, 2008). The UK education sector is characterized by a large number of foreign student populations. It is important to note that the admission of foreign students in higher learning institutions is done in line with the available opportunities. Given this the high number of foreign students in the UK, it is undoubtedly true to conclude that the UK system has diversified its education opportunities. As result, equality of opportunity is not only provided to the locals, but also to the international student population. Merit is a vital factor that influences student enrolment in the UK higher education system. Whilst the system has been said to operate on a for-merit basis, the reliability, relevance, and validity of the process have been challenged (Parry, 2007, p.104). This follows concerns about the exact factors and variables that define merit. In regard to the merit factor, the equality of opportunity prospect has been more or less jeopardized. Notably, the admissions system works towards minimizing or alleviating

A Look At Three Types Of Price Searchers Economics Essay

A Look At Three Types Of Price Searchers Economics Essay A monopoly is a firm producing a commodity for which there is no close substitute. There are usually some forms of barriers of entry. It is difficult to define a pure monopoly as close substitutes are difficult to define. For example, there are no close substitutes for cigarettes, but there are many substitutes for Marlboro. 1.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Features (a) Only one seller. (b) Restricted entry by barriers. (c) Market information is not free and perfect. à ¢Ã¢â€š ¬Ã‚ ¢ Barriers to entry (a) Legal barriers create legal monopolies. (i) Public franchise: exclusive right to run a business, e.g. TVB. (ii) Government licence: exclusive right to entry into a business, e.g. taxi licence. (iii) Patent: exclusive right to use an invention, e.g. right to produce a drug. (b) Natural barriers create natural monopolies. (i) The average cost falls over a large volume of output before it rises. LRAC would be lower if an industry were under monopoly than if it was shared between two or more competitors. (ii) Control the supply of an essential raw material, e.g. most diamond mines in the world are controlled by De Beers Ltd. (iii) Economies of scale: The large fixed cost of production requires a large output to pull down the average cost, e.g. electricity generated by China Light Power Ltd. 1.2 Output And Price Decisions Definition A single-price monopoly is one that charges the same price for every unit of output it sells. The monopoly must decide how much to produce and what price to charge. It is a price-searcher. Definition A price searcher is a seller with sufficient market power to set its price by adjusting supply. Since there is only one firm in the industry, the demand curve of the firm is also the demand curve of the industry, and the seller faces a downward sloping demand curve. Table 1 illustrates the demand function of a petrol station. The marginal revenue is less than and falls faster than the price charged. The price is also equal to average revenue (AR). Table 1: Demand and marginal revenue Price (P, $/Litre) Quantity Demanded (Q) Total Revenue (TR = P x Q, $) Marginal Revenue (MR = ΆTR = ΆQ) ($/Extra Litre) 18 0 0 16 1 16 16 14 2 28 12 12 3 36 8 10 4 40 4 The monopoly maximises its profit by producing the level of output to MR = MC. Given the total cost as in Table 2, we can find that the best output level to maximise profit is at three litres, where both MC and MR are equal. The price charged is $12. Table 2: Demand and marginal cost Price (P, $/Litre) Quantity Demanded (Q) Total Revenue (TR=P x Q, $) Marginal revenue (MR = ΆTR / ΆQ, $/Extra Litre) Total Cost (TC, $) Marginal Cost ($/Extra Liter) 18 0 0 15 16 1 16 16 18 3 14 2 28 12 22 4 12 3 36 8 30 8 10 4 40 4 41 11 Graphically, the same conclusion can be derived in Figure 1. Figure 1 A monopolys output and price The price is determined by demand curve corresponding to the equilibrium quantity at which the MR equals to MC. The profit or loss is again determined by the ATC with reference to the quantity sold and the price charged. Owing to barriers to entry, economic profits will not be eliminated away in the long run. The only difference between short-run and long-run equilibrium is that in the long run, the firm will produce where MR = LRMC. 1.3 Single-price Monopoly Versus Perfect Competition A monopoly and perfect competition are two completely different market structures leading to different price and output decisions. We can summarise their differences as follows: Perfect Competition Monopoly à ¢Ã¢â€š ¬Ã‚ ¢ Price-taker à ¢Ã¢â€š ¬Ã‚ ¢ Monopoly influences its price à ¢Ã¢â€š ¬Ã‚ ¢ Produce where MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ Produce where MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ P = MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ P > MC; P > MR à ¢Ã¢â€š ¬Ã‚ ¢ No barriers to entry à ¢Ã¢â€š ¬Ã‚ ¢ Restricts output, charges a higher price In terms of output, a monopoly is always accused of restricting output in order to push the price above the marginal cost. This is known as allocative inefficiency, leading to loss in social welfare. In Figure 2, PM and QM are the price and output decisions of a monopoly, which are less than the corresponding output and price decisions in perfect competition. We can see that the PC and PM for perfect competition are set at P = AR = MR = MC. Figure 2 Price and output decisions in a monopoly and in perfect competition Similarly, the output level is reduced from QC to QM, which will hurt both consumers and producers in terms of loss in consumer surplus and producer surplus. The sum of such loss is known as deadweight loss. Definition A deadweight loss is a loss to society that cannot be recovered. Figure 3 Inefficiency of a monopoly In Figure 3, some of the losses of consumers have been captured by the producer as monopoly gain. However, there is still deadweight loss as illustrated by the area of the triangle. In this respect, a monopoly reduces the potential gain to society in term of social welfare. 1.4 Shortcomings Of A Monopoly A monopoly has the following shortcomings: à ¢Ã¢â€š ¬Ã‚ ¢ Higher price and lower output than under perfect competition in both short run and long run. à ¢Ã¢â€š ¬Ã‚ ¢ Possibility of higher cost due to lack of competition. à ¢Ã¢â€š ¬Ã‚ ¢ Unequal distribution of income as income concentrates on monopolies. à ¢Ã¢â€š ¬Ã‚ ¢ Lack of incentive in invention and innovation. 1.5 Advantages Of A Monopoly A monopoly has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Economies of scale. à ¢Ã¢â€š ¬Ã‚ ¢ Possibility of lower cost curve due to more research and development and more incentives. à ¢Ã¢â€š ¬Ã‚ ¢ I nnovation and new products. 2. Monopolistic Competition The second type of price-searcher is monopolistic competition. Definition Monopolistic competition consists of features of perfect competition and monopoly. A firm in such a market structure is also referred to as open market price-searcher as it is not protected by barriers. 2.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Large number of sellers (a) Each firm has a small market share. (b) This implies independence of firms. à ¢Ã¢â€š ¬Ã‚ ¢ Freedom of entry à ¢Ã¢â€š ¬Ã‚ ¢ Product differentiation Each firm has some market power over its loyal customer. à ¢Ã¢â€š ¬Ã‚ ¢ Each sellers product is a close substitute for many other sellers products (a) Products are made slightly different from others, i.e. differentiation. Definition In differentiation, products are made slightly different from others by brand, packaging, sales location and services. (b) Non-price competition is common. 2.2 Demand Curve Because of product differentiation, a firm can raise its price without losing all its customers. Therefore, the demand curve is downward sloping because a price rise results in the loss of some, but not all customers. The demand curve is relatively elastic because of substitutes from other firms. However, the actual elasticity depends on the degree of product differentiation. Generally, the less differentiated the product is, the more elastic the demand will be, and vice versa. 2.3 Price And Output Determination 2.3.1 Short run A firm in monopolistic competition faces a downward sloping demand curve. The marginal revenue (MR) curve of the firm in monopolistic competition is downward sloping. The profit is maximised where marginal revenue equals marginal cost. The profit-maximising output level is determined by the intersection of MR and MC curves. The profit-maximising price is determined by the demand curve. The firm can make a normal profit, an economic profit or a loss, depending on the difference between the price and the average total cost. Since each firm is small and has market power, no single firm can effectively influence what other firms do. If one firm changes its price, this action has no effect on the actions of the other firms. Figure 4 Monopolistic competition in the short run 2.3.2 Long run Economic profits in the short run will attract new entrants. When new firms enter, they share the market demand. The existing firms demand curve shifts inwards, representing less demand. This process continues until all economic profits are exhausted. When only normal profits remain, there is no incentive for new entrants. In Figure 5, the price and quantity are $140 and 60 units respectively. As the price is just equal to ATC, there is no economic profit. Figure 5 Monopolistic competition in the long run The long-run equilibrium will be a position where the downward sloping demand curve is tangent to the LRAC curve. However, the demand curve will never be tangent to the bottom of LRAC because it is downward sloping. The profit-maximising output is 60 units and price is $140. The firm in monopolistic competition has excess capacity as it does not produce at the optimum level of output where the LRAC is the lowest. Figure 6 Excess capacity in monopolistic competition 2.4 Shortcomings Monopolistic competition has the following disadvantages: à ¢Ã¢â€š ¬Ã‚ ¢ Owing to monopoly power, long-run equilibrium brings a higher price and lower output than perfect competition. à ¢Ã¢â€š ¬Ã‚ ¢ Owing to downward sloping demand curve, the firms demand curve will never be tangent to the bottom of the LRAC curve, implying that it will not produce at the least-cost point. Therefore, product differentiation in monopolistic competition creates excess capacity (i.e. creates inefficiency). à ¢Ã¢â€š ¬Ã‚ ¢ Less scope for economies of scale as share among many sellers. à ¢Ã¢â€š ¬Ã‚ ¢ Lack of economic profits in the long run for research and development. 2.5 Advantages Monopolistic competition has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Demand curve is highly elastic due to the large number of substitutes. à ¢Ã¢â€š ¬Ã‚ ¢ Diversity of products is available. (However, it has been argued that the cost of diversity is excess capacity which is a type of inefficiency.) à ¢Ã¢â€š ¬Ã‚ ¢ Greater freedom of entry when compared with monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ Absence of economic profits in the long run helps to keep prices down for consumers. 3. Oligopoly Definition An oligopoly occurs when only a few firms share a large proportion of the industry. 3.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Few number of sellers Competition among a few, e.g. two to 20. à ¢Ã¢â€š ¬Ã‚ ¢ Products may be identical or differentiated à ¢Ã¢â€š ¬Ã‚ ¢ Barriers to entry Entry may be relatively difficult or impossible (e.g. petroleum). à ¢Ã¢â€š ¬Ã‚ ¢ Interdependence of firms Oligopolists react to the pricing policy of rivals. The outcome is that there is no single generally accepted theory of oligopoly. Firms may react differently and unpredictably. A firms policy will depend on how it thinks its competitors will react to its move and the consequence depends on how its competitors really react. 3.2 Collusion And Competition The interdependence of firms in an oligopoly drives firms into one of the following two incompatible policies: à ¢Ã¢â€š ¬Ã‚ ¢ Collusive oligopoly: Oligopolists have formal or tacit agreement to limit competition among themselves to reduce uncertainty. For example, they may set output quotas, fix prices and limit product promotion. The typical collusive oligopoly is a cartel price leadership. à ¢Ã¢â€š ¬Ã‚ ¢ Non-collusive oligopoly: There is no formal agreement among oligopolists. Firms compete for bigger shares of industry profits. 3.3 Collusive Oligopoly A typical collusive oligopoly has these features: à ¢Ã¢â€š ¬Ã‚ ¢ Cartel Firms acts like a monopoly to maximise industry profits. (a) Cartel by non-price competition: Market price is set by joint profit maximisation and each firm observes that price. However, they compete for customers in the form of non-price competition. (b) Cartel by quotas: Another way is to set the price by joint profit maximisation. Each firm observes that price, but each firm will take its share or quota of the total quantity demanded at the controlled price. Thus, both cases require adherence to the price-setting by joint profit-maximisation among oligopolists. The only difference is whether the quantity demanded at the controlled price is competed among the firms in the form of non-price competition or is divided among themselves in the form of quotas. à ¢Ã¢â€š ¬Ã‚ ¢ Price leadership The demand curve of price leader represents the market share of the leader. The leader first maximises its profits at the point where leaders MC = MR. The corresponding price of leaders demand curve becomes the market price which every other firm has to follow. The leader supplies at its equilibrium quantity and the followers supply the rest representing the difference between market demand and leaders supply. 3.4 Kinked Demand Curve Model There are many theories to explain different kinds of phenomena in oligopoly. One such theory, the kinked demand curve, is put forward by Paul M. Sweezy to explain the price rigidity or sticky price in an oligopoly industry. Assumptions: à ¢Ã¢â€š ¬Ã‚ ¢ If a firm raises its price, others will not follow. Thus, the demand curve will be more elastic in this range. à ¢Ã¢â€š ¬Ã‚ ¢ If a firm cuts its price, so will the other firms. The demand curve in this range will be less elastic. These assumptions result in the kinked demand curve. In Figure 7, because the demand curve has kinked, the MR has broken as is illustrated by the gap between a and b on the graph. And the output and price would be the same even though the MC rises due to the same level by the equality of MR and MC. Thus, the price will be sticky when the cost increases within a certain range. Figure 7 The kinked demand curve 3.5 Shortcomings An oligopoly has the following disadvantages: à ¢Ã¢â€š ¬Ã‚ ¢ Shares all the same disadvantages of monopoly, as discussed earlier in this chapter. à ¢Ã¢â€š ¬Ã‚ ¢ Less scope for economies of scale than monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ More extensive advertising than monopoly, e.g. non-price competition. 3.6 Advantages An oligopoly has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Economic profits: returns for research and development. à ¢Ã¢â€š ¬Ã‚ ¢ Incentive for innovation: for capturing larger market share. à ¢Ã¢â€š ¬Ã‚ ¢ Greater choice: non-price competition through product differentiation. 4. FACTOR MARKET For the production of goods and services, a firm has to acquire factors of production. The markets for factors of production are similar to those of the product market, as they can be categorised into perfect or imperfect markets. The demand for a factor of production is dependent upon the demand of goods that use the factor. Hence, the demand for factors of production is a derived demand. Definition Derived demand is demand for a productive resource that results from the demand for the goods and services produced by the resource. Figure 8 Illustration of the factor and product markets Factor payment is the income for the owner of the factor of production for use of the factor over a period of time. The factor income for labour, land, capital and entrepreneurship are wages, rent, interest and normal profit respectively. In a perfectly competitive factor market, the factor payment is determined by the forces of demand and supply. Figure 9 Demand and supply in the factor market 5. MARGINAL PRODUCTIVITY THEORY This theory explains that the demand for a factor depends on the marginal revenue product (MRP) of the factor. Definition Marginal revenue product (MRP) is the additional sales revenue resulting from employing an additional worker. Marginal product (MP) is the extra output produced by the additional worker. The MP curve is downward sloping because of the law of diminishing returns. MRP = MP (factor) x MR (goods) The MRP curve is downward sloping from left to right. It is identical in shape to the MP curve because MR (i.e. price of a good) is constant under perfect competition in the product market. Figure 10 Marginal product for labour and marginal revenue product 6. DEMAND FOR A FACTOR Marginal cost (MC) is the extra cost of employing an additional unit of factor of production. In a perfectly competitive factor market, a firms MC graph for a factor is horizontal because the firm is facing a perfectly elastic supply of the factor. Therefore, MC = Price of the factor (i.e. MC of labour = Wages) 6.1 Profit Maximisation The firm maximises profits when: Marginal cost of hiring an extra unit of labour = Marginal revenue from the labours output to the firm In equilibrium, MC (labour) / Wages (factor price) = MRP Hence, the firms demand curve for labour is identical to its MRP curve. Figure 11 Demand for labour The market demand curve for labour is the sum of quantities of labour demanded by all firms at each wage rate. Chapter Review à ¢Ã¢â€š ¬Ã‚ ¢ A monopoly is a price-searcher who is a seller with sufficient market power to set his price by adjusting supply. à ¢Ã¢â€š ¬Ã‚ ¢ The monopoly maximises its profit by producing the level of output to MR = MC. à ¢Ã¢â€š ¬Ã‚ ¢ A monopoly restricts output in order to push price above the marginal cost. Such allocative inefficiency leads to a loss in social welfare. à ¢Ã¢â€š ¬Ã‚ ¢ Because of product differentiation, a firm in monopolistic competition can raise its price without losing all its customers. à ¢Ã¢â€š ¬Ã‚ ¢ The firm in monopolistic competition has excess capacity as it does not produce at the optimum level of output where the LRAC is the lowest. à ¢Ã¢â€š ¬Ã‚ ¢ Due to the interdependence of firms, oligopolists react to the pricing policy of their rivals. à ¢Ã¢â€š ¬Ã‚ ¢ The kinked demand curve explains that the price will be sticky when the cost increases within a certain range. à ¢Ã¢â€š ¬Ã‚ ¢ A firm will maximise profits when the marginal cost of hiring an extra unit of labour = the marginal revenue from the labours output to the firm What You Need To Know à ¢Ã¢â€š ¬Ã‚ ¢ Monopoly: A firm producing a commodity for which there is no close substitute. à ¢Ã¢â€š ¬Ã‚ ¢ Deadweight loss: Loss to society that cannot be recovered. à ¢Ã¢â€š ¬Ã‚ ¢ Single-price monopoly: Monopoly that charges the same price for every unit of output it sells. à ¢Ã¢â€š ¬Ã‚ ¢ Monopolistic competition: This market structure consists of features of perfect competition and monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ Differentiation: Products are made slightly different from others by brand, packaging, sales location and services. à ¢Ã¢â€š ¬Ã‚ ¢ Oligopoly: Only a few firms share a large proportion of the industry. à ¢Ã¢â€š ¬Ã‚ ¢ Derived demand: Demand for a productive resource that results from the demand for the goods and services produced by the resource. Work Them Out 1. Which of the following is NOT a characteristic of a monopoly? A The monopolist faces an inelastic demand for its product B There is only one seller in the market C Barriers of entry exist D The monopolist can influence the price 2. Which of the following statements is NOT true? A As an oligopolist responds to competitors actions, it can be considered a perfectly competitive firm. B Products in an oligopoly may be differentiated. C A cartel is like a monopolist with power to maximise industry profit. D Oligopoly is a market structure favourable to collusion. 3. The characteristic of a monopoly is A its large scale of production B the existence of barriers to entry C the huge initial investment D the necessity for a large market 4. A natural monopoly exists when A a franchise is granted to a firm B economies of scale are necessary C a firm can prevent the entry of competitors D a firm specialises in natural resources extraction 5. The monopolist can make economic profits because A entry is prevented B it charges a high product price C it has low promotion costs D it has a large market share 6. Economic profits earned by a monopolist are most likely due to A barriers of entry B an unexpected rise in the price of its product C good luck D the rate of return allowed by the government 7. Which of the following is NOT a feature of oligopoly? A Only a few firms dominate the industry. B There are no barriers to entry into the industry. C The product may be either homogeneous or differentiated. D Firms in an oligopoly face downward-sloping demand curves. 8. Which of the following is NOT a characteristic of monopolistic competition? A A single price exists for similar goods. B Only normal profit exists in the long run. C Products are differentiated. D Excess capacity exists in the long run. 9. Which of the following statements is NOT true? A There are numerous sellers in perfect competition. B Products are differentiated in monopolistic competition. C Firms in perfect competition maximise profits. D Information is perfect in monopolistic competition. 10. What is the likely market structure of coffee shops in Hong Kong? A Monopoly B Oligopoly C Monopolistic competition D Perfect competition SHORT QUESTIONS What factor(s) enable(s) a monopoly to earn economic profits in the long run? Why do perfectly competitive firms maximise their profits by producing so that their marginal cost equals the price, but monopolists maximise their profits by setting a price that is greater than marginal costs? What are the characteristics of a market that allows a monopolist to successfully price discriminate between groups? Explain how a firm in an oligopoly can differentiate its product. ESSAY QUESTIONS 1. Peters Toy Factory, a single-price monopoly, has the following demand schedule and total cost for luxury toys: Quantity (Toys) Price ($/Toy) Total Cost ($) 0 10 1 1 8 3 2 6 7 3 4 13 4 2 21 5 0 31 Calculate Peters total revenue schedule. Calculate Peters marginal revenue schedule. Calculate Peters profit-maximising levels of : (i) output (ii) price (iii) marginal cost (iv) marginal revenue (v) profit 2. Mr Ma started a recycling business in Hong Kong this month. He employs students to sort and collect bottles, paying 10 cents for each bottle collected. The students can sort the following number of bottles in an hour. Number Of Students Number Of Bottles 1 200 2 450 3 750 4 1,150 5 1,450 6 1,700 7 1,900 8 2,050 9 2,150 (a) Why does the students marginal product decline? (b) If all other firms pay the students $25 an hour to collect bottles, how many students will Mr Ma hire? If the fee for each collected bottle rises to 12.5 cents and the students wages increases to $37.50 an hour, (c) Calculate and show the changes to the students marginal revenue product in a table. (d) How many students will Mr Ma hire?

Stereotypes and Stereotyping - I Was a Teenage Hippie Essay -- Example

Stereotyping - I Was a Teenage Hippie Imagine a 17-year-old kid. He is five feet eleven inches tall, weighs 180 lbs., with very long hair and a beard. His hair parts in the middle and stops at his waist, meaning his hair is about three and a half feet long. He dresses not for the fashion of the day, but with old standards: blue jeans and a flannel shirt in the winter or blue jeans and a short sleeve shirt in the summer. Generally, his shirts in summer are T-shirts, typically with some provocative text or an advertisement for a rock group. That kid was me in 1974. I was the stereotypical "hippie," and my social circle during that year and the four years preceding it (two of those years in middle school and two years in high school) included other hippies. The hippie subculture has often been subject to a stereotyped image over the years. The image identified with the hippie is one of an individual that is generally unclean and unkempt, usually lives in squalor, has a drug habit, and is not very smart. Of course, male members of the hippie subculture all had long hair. Though the conservatives stereotyped me and my friends by what they saw, they did not know a single thing about us. The group I was involved with socially was made up of eight other guys besides myself and two girls, but the eleven of us were known by our peers as "The Dirty Dozen." We were looked upon by the conservatives in our town as being "just a bunch of damn hippies." Obviously, The Dirty Dozen was stereotyped because of our appearance. Indeed, it would have been easy for any of us to change our image to something more socially acceptable. For example, cutting my air, shaving off my beard, and changing my... ...day. I find myself not being so quick to judge by looks alone. I find myself consciously thinking that I should not stereotype what I see before me. I do not know the person; I only know the image. I certainly do not want to consider myself so narrow minded that I engage in the very behavior displayed by the conservatives in the 1960s and 1970s. Because of the tendency of people to stereotype others, I hold the belief that I would be subject to stereotyping today. While I maintain views that might be politically incorrect and continue to hold dear a bit of the non-conforming attitude embraced by the hippie subculture, would people guess that to look at me today? Considering my conservative image today, would people guess that on the inside I might still be a "hippie?" Or would they look at me and see me as a "boring old fart" conservative yuppie?

Discuss ‘The Chinese Room’ Argument Essay

In 1980, John Searle began a widespread dispute with his paper, ‘Minds, Brains, and Programmes’ (Searle, 1980). The paper referred to a thought experiment which argued against the possibility that computers can ever have artificial intelligence (AI); in essence a condemnation that machines will ever be able to think. Searle’s argument was based on two key claims. That; â€Å"brains cause minds and syntax doesn’t suffice for semantics† (Searle, 1980, p.417). Syntax in this instance refers to the computer language used to create a programme; a combination of illegible code (to the untrained eye) which provides the basis and commands for the action of a programme running on a computer. Semantics refers to the study of meaning or the understanding behind the use of language. Searle’s claim was that it is the existence of a brain which gives us our minds and the intelligence which we have, and that no combination of programming language is sufficient enough to contribute meaning to the machine and therein for the machine to understand. His claim was that the apparent understanding of a computer is merely more than a set of programmed codes, allowing the machine to extort answers based on available information. He did not deny that computers could be programmed to perform to act as if they understand and have meaning. In fact he quoted; â€Å"the computer is not merely a tool in the study of the mind, rather the appropriately programmed computer really is a mind in the sense that computers given the right programs can be literally said to understand and have other cognitive states† (Searle, 1980, p. 417). Searle’s argument was that we may be able to create machines with ‘weak AI’ – that is, we can programme a machine to behave as if it were thinking, to simulate thought and produce a perceptible understanding, but the claim of ‘strong AI’ (that machines are able to run with syntax and have cognitive states as humans and understand and produce answers based on this cognitive understanding, that it really has (or is) a mind (Chalmers, 1992)) is just not possible. A machine is unable to generate fundamental human mindsets such as intentionality, subjectivity, and comprehension (Ibid, 1992). Searle’s main argument for this notion came from his ‘Chinese room experiment’, for which there has been much deliberation and denunciation from fellow researchers, philosophers and psychologists. This paper aims to analyse the arguments, assess counter augments and propose that John Searle was accurate in his philosophy; that machines will n ever think as humans and that the issue relates more to the simple fact that a computer is neither human nor biological in nature, nor can it ever be. In 1950, Alan Turing proposed a method of examining the intelligibility of a machine to become known as ‘The Turing Test’ (Turing, 1950). It describes an examination of the veracity to which a machine can be deemed intelligent, should it so pass . Searle (1980) argued that the test is fallible, in that a machine without intelligence is able to pass such a test. ‘The Chinese Room’ is Searle’s example of such machine. ‘The Chinese room’ experiment is what is termed by physicists a ‘thought experiment’ (Reynolds and Kates, 1995); such that it is a hypothetical experiment which is not physically performed, often without any intention of the experiment ever being executed. It was proposed by Searle as a way of illustrating his understanding that a machine will never logically be able to possess a mind. Searle (1980) suggests that we envisage ourselves as a monolingual (speaking only one language) English speaker, locked inside a room with a large group of Chinese writing in addition to a second group of Chinese script. We are also presented with a set of rules in English which allow us to connect the initial set of writings, with the second set of script. The set of rules allows you to identify the first and second set of symbols (syntax) purely by their presenting form. Furthermore, we are presented with a third set of Chinese symbols and additional English instructions whi ch makes it feasible for you to associate particular items from the third batch with the preceding two. This commands you consequently to ‘give back’ particular Chinese symbols with particular shapes in response. Searle encourages us to accept that the initial set of writing is a ‘script’ (a natural language processing computational data set); the second set a ‘story’ and the third group ‘questions’. The symbols which are returned are the ‘answers’ and the English instructions are the ‘computer programme’. However, should you be the one inside ‘the Chinese room’ you would not be aware of this. However, Searle suggests that your responses to the questions become so good, that you are impossible to differentiate from a native Chinese speaker; yet you are merely behaving as a computer. Searle argues that whilst in the room and delivering correct answers, he still does not know anything. He cannot speak Chinese yet is able to produce the correct answers without an understanding of the Chinese language. Searle’s thought experiment demonstrated that of ‘weak AI’; that we can indeed programme a machine to behave as if it were thinking and such to simulate thought and hence produce a perceptible understanding, when in fact the machine understands nothing; it is simply following a linear instructional set, for which the answers are already programmed. The machine is not producing intuitive thought; it is providing a programmed answer. Searle was presented with many critical replies to ‘the Chinese room’ experiment, for which he offered a rejoinder; a retort to the replies by looking at the room in a different way to account for such counterarguments presented by researchers in the field of AI. Harnard (1993) supports ‘The Systems Reply’ in refute of the work of Searle. This argues that we are encouraged to focus on the wrong agent; the individual in the room. This implies that the man in the room does not understand Chinese as a single entity, but the system in which he operates (the room), does. However, an evident opposition to such claim is that the system (the room) again has no real way of connecting meaning to the Chinese symbols any more than the individual man did in the first instance. Even if the individual were to internalize (memorise) the entire instructional components, and be removed from the system (room), how would the system compute the answers, if all the computational ability is within the man. Furthermore, the ‘room’ cannot understand Chinese. ‘The Robot Reply’ is due to refutation by Harnard (1989) who argued that meaning is unable to be attached to the ciphers of Chinese writing due to the lack of ‘sensory-motoric’ connection. That is, the symbols are in no way attached to a physical meaning, that which can be ‘seen’ and comprehended. As children, we learn to associate meaning of words by attaching them to physical ‘things’. Harnard argues, that ‘the Chinese room’ lacks this ability to associate meaning to the words, and thus is unable to produce understanding. Yet, Searle’s defence is that if we were to further imagine a computer inside a robot, producing a representation of walking and perceiving, then according to Harnard, the robot would have understanding of other mental states. However, when Searle places the room (with the man inside) inside the robot and allows the symbols to come from a television attached to the robot, he insists that he still does not have understanding; that his computational production is still merely a display of ‘symbol representation’ (Searle, 1980, p.420). Searle also argues that part of ‘The Robot Reply’ is in itself, disputing the fact that human cognition is merely symbol manipulation and as such refutes the opinion of ‘strong AI’, as it is in need of ‘causal relations to the outside world’ (Ibid, p.420). Again, the system simply follows a computational set of rules installed by the programmer and produces linear answers, based upon such rules. There is no spontaneous thought or understanding of the Chinese symbols, it merely matches with that already programmed in the system. ‘The Robot Reply’ is therefore suggestive that programmed structure is enough to be acc ountable for mental processes; for cognition. ‘[this suggests] that some computational structure is sufficient for mentality, and both are therefore futile’ (Chalmers, 1992, p.3). Further to ‘the Robot Reply’, academics from Berkley (Searle, 1980) proposed ‘The Brain Simulator Reply’, in which the notion of exactly what the man represents is questioned. It is hereby proposed that the computer (man in the room) signifies neurons firing at the synapse of a Chinese narrator. It is argued here that we would have to accept that the machine understood the stories. If we did not, we would have to assume that native Chinese speakers also did not understand the stories since at a neuronal level there would be no difference. The opposition clearly defines understanding by the correct firing of neurons, which may well produce the correct responses from the ‘machine’ and a perceived understanding, that is assumed, but the argument remains; does the machine (man) actually understand that which he is producing (answering), or is it again, merely a computational puzzle, solved through logical programming? Searle argues yes. He asks us to imagine a man in the room using water pipes and valves to represent the biological process of neuronal firing at the synapse. The input (English instructions) now informs the man, which valves to turn on and off and thus produce an answer (a set of flowing pipes at the end of the system). Again, Searle argues that neither the man, nor the pipes actually understand Chinese. Yes, they have an answer and yes, the answer is undoubtedly correct, but the elements which produced the answer (the man and the pipes) still do not understand what the answer is; they do not have semantic representation for the output. Here, the representation of the neurons is simply that; a representation. A representation which is unable to account for the higher functioning processes of the brain and the semanticist understanding therein. Further argument suggests a combination of the aforementioned elements known as ‘The Combination Reply’ should allow for ‘intentionality†™ to the system, as proposed by academics at Berkley and Standford (Simon and Eisenstadt, 2002). The idea is such that combining the intelligence of all the replies aforementioned into one system, the system should be able to produce semantic inference from the linear answer produced by the syntax. Again, Searle (1980) is unable to justify such claims, as the sum of all parts does not account for understanding. Not one of the replies was able to validate genuine understanding from the system and as such, the combination of the three counterarguments, will still remain as ambiguous as first presented. Searle quotes; â€Å"if the robot looks and behaves sufficiently like us then we would suppose, until proven otherwise, that it must have mental states like ours that cause and are expressed by its behavior†¦ [i]f we knew independently how to account for its behavior without such assumptions†¦we would not attribute intentionality to it, especially if we knew it had a formal program† (1980, p. 421). Searle’s argument is simple. If we did not know that a comput er produces answers from specifically programmed syntax, then it is plausible to accept that it may have mental states such as ours. The issue however is straightforwardly so, that we do know that the system is a computational set and as such is not a thinking machine any more so than any other computational structure. ‘The Chinese Room’ thought experiment is undoubtedly notorious and controversial in essence. The thought experiment has been refuted and discredited repeatedly, yet perceivably defended by Searle. His own defensive stance has appeared to cause infuriation amongst ‘strong AI’ theorists, resulting in questionable counter attacks, resulting in more of what appears a â€Å"religious diatribe against AI, masquerading as a serious scientific argument† (Hofstadter 1980, p. 433) than a significant opposition. Searle (1980) argues that accurate programming in no instance can ever produce ‘thought’ in the essence of what we understand thought to be; not only the amalgamation of significant numbers of neurons firing, but the underlying predominance which make us what we are, that predominance being consciousness. From a functionalist perspective, with the mind being entwined within the brain and our bodies entangled further, creating a machine which ‘thinks’ as a human is nigh impossible. To do so, would be to create an exact match of what we are, how we are constructed and the properties of substance of which we stand. If successful, we have not created a thinking ‘machine’ but a thinking ‘human’; a human which alas, is not a machine. Searle (1982) argues that it is an undeniable fact that the earth is comprised of particular biological systems, particularly brains which are able to create intellectual phenomena which are encompassed with meaning. Suggesting that a machine is capable of intelligence would therein suggest that a machine would need the computational power equivalent to that of the human mind. Searle (Ibid, 1982, p. 467) states that he has offered an argument which displays that no recognised machine is able ‘by itself’ to ever be capable of generating such semantic powers. It is therefore assumed, that no matter how far science is able to recreate machines with behavioural characteristics of a ‘thinking’ human, it will never be more than a programmed mass of syntax, computed and presented as thought, yet never actually existing as actual thought. References: Chalmers, D. 1992, ‘Subsymbolic Computation and the Chinese Room’, in J. Dinsmore (ed.), The Symbolic and Connectionist Paradigms: Closing the Gap, Hillsdale, NJ: Lawrence Erlbaum. Harnad, S. 1989. Minds, machines and Searle. Journal of Experimental and Theoretical Artificial Intelligence, 1, pp.5-25. Harnad, S. 1993. Grounding symbols in the analog [sic] world with neural nets. Think 2(1): 12-78 (Special issue on â€Å"Connectionism versus Symbolism,† D.M.W. Powers & P.A. Flach, eds.). Simon, H.A., & Eisenstadt, S.A., 2002. A Chinese Room that Understands Views into the Chinese room. In: J. Preston * M. Bishop (eds). New essays on Searle and artificial intelligence Oxford: Clarendon, pp. 95-108. Hofstadter, D. 1980. Reductionism and religion. Behavioral and Brain Sciences 3(3),pp.433–34. Reynolds, G. H., & Kates, D.B. 1995. The second amendment and states’ rights: a thought experiment. William and Mary Law Review, 36, pp.1737-73. Searle, J. 1980. â€Å"Minds, Brains, and Programs.† Behavioral and Brain Sciences 3, pp.417-424. Searle, J. 1982. ‘The Myth of the Computer: An Exchange’, in New York Review of Books 4, pp.459-67.

Ingenious vs. Ingenuous

Ingenious vs. Ingenuous Ingenious vs. Ingenuous Ingenious vs. Ingenuous By Simon Kewin Be careful with ingenious and ingenuous. Sometimes a single letter can make a great deal of difference to the meaning of a word. Take, for example, the two words ingenious and ingenuous. Ingenious means clever, original or inventive. It derives ultimately from the Latin word ingenium, which means a natural capacity or talent. It’s the same word from which engine, among other words, derives. So, a talented or clever person could be described as ingenious, as could a device or idea that is particularly clever or well-suited to its purpose. Ingenuous, however, means innocent and unsuspecting, perhaps in a childlike way. It derives from a separate Latin word, ingenuus, meaning native or freeborn. It’s the same word from which ingenue/ingenu derives, meaning a naà ¯ve young woman/man. Originally, ingenuous tended to have a more positive sense than it does now : it meant candid, frank or honourable. Today, the word often has more negative overtones. To be ingenuous is to be unsophisticated. So, the one letter difference between ingenious and ingenuous gives us two words that actually have more-or-less opposite meanings. Be careful which you use. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:The Meaning of "To a T"44 Resume Writing TipsAdvance vs. Advanced

Euthanasia around the World essays

Euthanasia around the World essays Some countries that have addressed this issue are: Australia: Their Northern Territory passed a law on 1995-MAY-25 which was assented to on 1995-JUN-16. 1 It permitted active euthanasia, under careful controls, when certain prerequisites are met. The Northern Territory consists of about 1/6 the land mass of Australia but only has a population of about 168,000 people. The law started as a private member's bill Rights of the Terminally Ill Bill 1995, sponsored by Marshall Perron. It was opposed by the Australian Medical Association and a variety of right-to-life groups. A "conscience vote" was allowed in which members were free to vote independently of party discipline. The original name was preserved. The law is called the Rights of the Terminally Ill Act. It went into effect on 1996-JUL-1. Similar bills were introduced in other Australian states. A survey conducted by Newspoll in 1995-JUL found 81% of Australian adults support voluntary euthanasia. This is an increase over an earlier result of 79% in 1994-JUL. A poll by the Roy Mo rgan Research Centre in 1995-JUN showed similar results: 78% in favor. This is an increase from 66% in 1986. A separate poll showed that 60% of doctors and 78% of nurses in Victoria favored voluntary euthanasia. An additional poll was taken among 6500 Christian congregations, representing 19 denominations. They found that 40% agreed with assisted suicide for terminally ill persons; 30% opposed; 30% uncertain. Among older church attendees, support was higher (50% among those 60 and older). Bob Dent, 66, was the first person to take advantage of the new law. He had moved to the Northern Territory as a Church of England (Episcopal, Anglican) missionary. He became disillusioned with politics within the church and left his calling to become a building estimator. He was diagnosed with cancer in 1991, and converted to Buddhism shortly afterwards. He wrote a letter saying "If you disagree with voluntary euthana...

Effects of credit crunch Essay Example | Topics and Well Written Essays - 1500 words

Effects of credit crunch - Essay Example ; data cover both central government debt and local government debt, which China's National Audit Office estimated at RMB 10.72 trillion (approximately US$1.66 trillion)in 2011; data exclude policy bank bonds, Ministry of Railway debt, China Asset Management Company debt, and non-performing loans 51.9% of GDP (2012 est.) 50.5% of GDP (2011 est.) note: data cover central government debt, and exclude debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions Central bank discount rate $3.389 trillion (31 December 2011 est.) $4.763 trillion (31 December 2010) $5.008 trillion (31 December 2009 est.) $1.015 trillion (31 December 2011) $1.616 trillion (31 December 2010) $1.179 trillion (31 December 2009) Commercial bank prime lending rate 2.25% (31 December 2011 est.) 3.25% (31 December 2010 est.) 5.5% (31 December 2010 est.) 6% (31 December 2009 est.) note: the Indian central bank's policy rate - the repurchase rate - was 8% during December 2012 Stock of money 6% (31 December 2012 est.) 6.56% (31 December 2011 est.) 10.8% (31 December 2012 est.) 10.19% (31 December 2011 est.) Stock of quasi money $2.434 trillion (31 December 2008) $2.09 trillion (31 December 2007) $278.8 billion (31 December 2009) $239.8 billion (31 December 2008) Stock of domestic credit $4.523 trillion (31 December 2008) $3.437 trillion (31 December 2007) $853.4 billion (31 December 2009) $687.7 billion (31 December 2008) Stock of narrow money $12.59 trillion (31 December 2012 est.) $10.92 trillion (31 December 2011 est.) $1.402 trillion (31 December 2012 est.) $1.249 trillion (31 December 2011 est.) Stock of broad money $4.91 trillion (31 December 2012 est.) $4.6 trillion (31 December 2011 est.) $342.3 billion (31 December 2012 est.) $305.7 billion (31 December 2011 est.) Taxes and other revenues $15.58 trillion (31 December 2012 est.) $13.52 trillion (31 December 2011 est.) $1.451 trillion (31 December 2012 est.) $1.293 trillion (31 December 2011 est.) Budget surplus (+) or deficit (-) 22.3% of GDP (2012 est.) 8.8% of GDP (2012 est.) -2.3% of GDP (2012 est.) -5.6% of GDP (2012 est.) Table 1; comparison between Indian and Chinese economies, retrieved from http://www.indexmundi.com/factbook/compare/china.india/economy. China and India have some similar country economic profiles and

Agenda Setting Essay Example | Topics and Well Written Essays - 1250 words

Agenda Setting - Essay Example As such, the input of the media in setting the agenda in such circumstances is vita since it helps decipher some of the prevailing political events at the time. The mass media is more likely to influence the opinions of an electorate during campaigns than the actual politician is. The structure of the media characterized with the various gatekeepers implies that decision of the mass media is informed therefore factual. The electorate therefore relies on the communications from the media. The elite are always more interested in politics that the illiterate in a society because politics of a country influences their wellbeing. Such a group considers the information they obtain from the media. The group relies on the media to initiate debates in social circles. The illiterate on the other hand believe the mass media content which often help them make their own personal decisions. The mass media gives intensified attention to specific issues in the society through repetitive coverage thus ensuring that the public discusses them at various stages. The article discusses the role of mass communication research in understanding the various effects of the mass media. The media continues to remain a vital section of the society that influences the actions, thoughts and feelings of the public. This implies that media is a vital aspect that does not only inform the public but influences the actions and thoughts of their target audience. By heightening research in the field, the scholar explains that the practitioners in the industry would discover new appropriate ways of ensuring that the media performs its functions effectively without harming the public. Mass communication research just as in any other discipline serves to develop new knowledge thereby informing the future of the profession. The book suggests specific features of the profession that requires effective research in order to uphold