Essays on Curve

Introduction

There is a long standing debate in .Economics between the classical school of macroeconomics and the Keynesian school of Macroeconomics. While the classicalists school believes in a laissez faire or free market economy the Keynesian school proposes government intervention in times of recession, inflation or such other macroeconomic disbalance in the economy. In this paper we are going to present the major differences in the Classical and Keynesian school of macroeconomics in terms of aggregate demand and supply and in terms of the impact on inflation and unemployment.

Aggregate Demand and Supply

The classical model is a supply side model. The proponents of ...

Introduction

There are two major school of macroeconomic thinking, the Keynesian school and the Classical school. The classical model has evolved over a long time and name of a number of renowned economists is attached to this school of thought. The Keynesian school has been built on the theories and models developed by John Maynard Keynes. In this paper we discuss the differences in these two schools of thought in terms of aggregate demand and supply and the relation between inflation and unemployment.

Aggregate Demand and Supply

The classical model is essentially a supply side model. According to the classical school of thought the ...

1. Plan for the assessment of Market structure Effectiveness for Operations of the Company. It can be easily asserted that the performance of the company as well as the market scenario changes whenever there are changes in the demand for a certain product over a period of time. It was observed that there is increasing trend in demand for microwave category. With the pressure and increase in complexity of individual lives and their living standards, the attitude and perception of people towards microwave food seems to be favorable. Such microwave food is also increasingly demanded as a result of ...

Types of Centrifugal Pumps

Centrifugal pumps consist of impellers and volutes and turn electrical energy into mechanical energy. The impeller rotates producing centrifugal force that adds to the pressure of a fluid budging the liquids in the desired direction through a piping system. There are basically two types of centrifugal pumps; Single-stage radial flow centrifugal pumps and multistage centrifugal pumps.

Single-Stage Centrifugal Pumps

These pumps consist of one impeller and are used in production operations to offer pump low to moderate pump services total dynamic head of less than 700ft/min. The characteristic curve of the pump is shown below: Graph showing single-stage centrifugal pump characteristics. Retrieved ...

Impact of Unemployment on the Long Term

The unemployment is defined as the state of looking for a job and not being able to get a job. The unemployed people are willing to be in the labor market; however, the economies cannot produce enough jobs for all the workers. The unemployment might continue the long term, especially after the recession times in the national economies (Krueger, Cramer and Cho 230). The ability to create new jobs is very essential for the national economies. The recession times in the world cause an increase in the unemployment rate, and some of the unemployments are long-term unemployments. The most ...

Introduction

Knowledge of how rapidly reaction proceeds is among the most important for practice in chemistry and chemical engineering. We often use casual descriptions of reaction rate such as “slow” or “fast” in our lives, however, such information can be scarcely enough for practical and industrial applications, such as running a chemical plant, for example. While there is a huge spectrum of the reaction rates that are present in nature – from the extremely slow steel oxidation to extremely rapid gas combustion, the quantitative measure is needed to compare them practically. For a general reaction in solution:

the kinetic rate expression ...

There are different approaches to define small economies. Besides usual quantitative ways to measure country’s smallness by its population, territory, GDP and other criteria, there some qualitative factors that are used to define the economy’s scale. Some economists state that small economies are those that adopt “price taking” policies as they cannot dictate their rules in the market, neither significantly influence trade rules. This peculiarity of small economies mainly lies in the fact that such countries have limited resources. Hereby, small countries are more dependent on imports and are forced to accept trade agreements offered by large ...

Introduction

This paper will critically analyze and review the biography of the American entrepreneur, Steve Jobs a founder of Apple and its CEO until his death in 2011. Steve Jobs is known for having two separate spells with Apple – first as its founder in 1976 and secondly, as a visionary leader who turned the company around in 1997 when it was under serious crisis. The purpose of this paper is to conduct a review and assessment of how the company was founded and ran and how it became successful under Steve Jobs. This will include the examination of the situation ...

1. Plan for the assessment of Market structure Effectiveness for Operations of the Company. When there is a fluctuation in the demand for a certain product from one year to the other, we should understand that market and Company performance are changing. There can be observed a decent increasing trend for the products in the microwave category. The complexity of individual lives is increasing and as a result, the perception towards microwave food items is favorable. The savings in time and the wide range of choices could be taken as the main reasons for these types of goods selection. ...

Binomial distribution

When do we use the binomial distribution? The binomial distribution is very useful when there are very many trials conducted in an experiment, say n, and we want to get the probability of finding success where each number of successes has a given probability of occurrence. The probability of success is denoted by p while that of failure is the complement, i.e. (1-p) (Collani & Dräger, 2011). The binomial distribution gives some of the probabilities that are associated with repeated Bernoulli independent trials.

Characteristics of binomial distribution

For a binomial experiment, an action is repeated several definite number of times The condition for ...

1. Plan for the assessment of Market structure Effectiveness for Operations of the Company. Analysis of the performance of microwave category can be done through the increase or decrease in the demand between years. The analysis shows that the demand is ever increasing for microwave category products. The perceived advantage of using microwave foods has increased as the life of people is becoming more and more complex. The advantages could be summarized as time saving, greater appeal since it is a gourmet meal and the variety provided. The multi-use of the products at any time of the day in ...

The item presented in the photo is a Ferrari F12 Berlinetta supercar. The color of the car is bright red, which stands out in the surrounding shades of green of the vegetation. The car is easily recognizable because it displays the emblematic silver symbol in the shape of a prancing horse on its grill. The symbol stands out in a central position, on the grille. Above the grille, there is another Ferrari symbol. This is a yellow rectangular sign, displaying the black prancing horse. Other Ferrari symbols can be distinguished on the wheels as well and yet another one ...

Business Cycle Theory

Annotated Bibliography Arnold, L. G. (2002). Business cycle theory. Oxford: Oxford University Press. Business cycle theory is a comprehensive overview that engages a wide range of schools of thought to explain the cycles in business and which use different mathematical techniques and methods. This book is a great resource for students and academics alike who wish to engage in a historical overview of business cycle theories primarily after Keynes, but also to understand and identify the main elements that delineated the schools before keys. The book presents the information in both its historical and analytical context and underscores similarities ...

ABSTRACT

This paper revolves around the review of related literature involving the robustness of the Environmental Kuznets Curve. This economic theory discusses the relationship turning point of environmental degradation with respect to economic growth. The hypothesis was introduced by Grossman and Kreuger who developed a reduced-form approach to embody the linear correlation of economic growth to environmental quality. Further studies have tested and enhanced this theory by tweaking either or both sides of the equation. Environmental degradation and economic growth are represented by subjective indicators which are based on the findings and beliefs of the various authors. Most of the ...

Introduction

A firm has to make constant endeavor to stay profitable in the market in the long term. It has to be well informed about the market structure, demand pattern, consumer choices etc. It also has to constantly carry on research and development to innovate new products to maintain a high market power. In this analysis we demonstrate how a firm utilizes market survey information to frame its pricing policy and also decide on the quantity to be supplied. We also get important ideas about advertisement policies of the firm. We consider a firm that produces low-calories frozen food. The ...

Investigating how light intensity will affect the rate of photosynthesis, with the help of DCPIP, in Spinach leaves.

The aim of this experiment is to find out how the rate of change of light intensity affect the photosynthesis in spinach leaves. Successful farming of food crops is very essential for both the nutritional and financial health of a nation. Governments of almost every nation invest land and labour to crop farming, as much as is possible, keeping in mind the other needs of a country. But, however, due to many reasons the maximum crop yield possible is not always achieved. For the production of a healthy crop certain conditions are necessary. The primary among these conditions are ...

Market Structure

A firm has to be well aware of the market structure in which it is operating so that it can take appropriate pricing and output decisions that maximizes its profit and market share. If the market is competitive in nature the firm would follow the price determined by the overall industry demand and supply. On the other hand a monopolist would decide the price that would maximize her profit or the price that would keep potential entrants into the industry at bay. The demand analysis that we had made previously can give us some idea about the market structure ...

The Demand Side Analysis for the United Kingdom

A. Describe the evolution of C, I, G and net exports and explain if the model of growth is domestic demand led or export led. Explain if it has changed during the period (at least ten years of data). The United Kingdom’s economy is among largest economies in the world when measured by gross domestic income (GDP) and purchasing power parity (PPP). At the same time, it is the fifth most complex economy as reviewed by the Economic Complexity Index in 2013 where it experienced a massive negative balance of payment of $174B. Just like in any economy, ...

Introduction

The sign of a successful firm is the constant endeavor that it makes to expand and enhance. To remain profitable and expand its operations a firm has to be well informed about the market conditions. It is important to collect and analyze market information to take strategic decisions. The firm utilizes information on the demand conditions, the activities of the close competitors, government policies, technological and product innovations and such others to frame its policies from time to time. The firm also uses the information to estimate future costs and benefits of the long term changes which helps it ...

Introduction

The managerial team of a firm has the important task of taking policy decision for the firm in the present and make planning for the future. The managers have be well informed about the market trends. All the information about demand, market structure, strategies taken by the competitors as well as production related information technological innovations, the firm’s own production technique help the managers to decide upon the profit maximizing level of output and price. The policies adopted by the government also affect the firms and the firm has to adjust its operations accordingly. The firm also has ...

[Pivotal Concepts of CAPM]

Introduction

No matter the attractiveness of an investment, an investor must always be ready for risks arising. In which case, it is always impossible to do away with entire risk. The only an investor can manage the impact of this risks is by coming up with an investment that yields a rate of return that can cover the risks. This would help in covering the investors whenever they take on risk. As the result, the need for a capital asset pricing model (CAPM) sets in as an important tool for the investors. The CAPM helps in ...

Learning Activity 1 – Naked Wines

Porter’s Five Forces is a business analysis tool that allows business managers and owners to assess various business strategies based on the inherent level of competitive rivalry in a market or industry. This analytical tool has five important components, each of which will be discussed below in relation to Naked Wines’ potential business strategy to conquer its target market. For the threat of new entry, the most important consideration for Naked Wine would be the specialist knowledge and other edges and advantages that the incumbent industry players have which may hamper its efforts to gain a decent share ...

RESEARCH PAPER

Illustration of Increased Government Spending On Refugees

The graph above show that, when government increases spending on refugees the money is utilized to buy goods and services produced in the economy. Thus, the demand curve shifts from AD to AD2

Illustration of the Increased Labor Supply in the Economy

The supply of labor is indicated by AS and AS2. The AS curve show the supply of labor before refugee influx while, AS2 shows the supply curve of labor after influx of refugees. This indicates that influx in refugees leads to a shift in labor supply curve.

Impact of Increased Labor Supply in the Economy In The Long Run Assuming Demand is Constant

The above graph shows that, increase in the labor supply resulting from ...

Introduction

Today’s young generation unanimously refer to luxury items as synonymous to being distinctive and possessing beauty, aesthetics, and elegance. Luxury items in their view should be of good quality, are usually highly priced and belong to brands that are well-known globally. Seeking or possessing luxury items connotes a person with good taste, sense of style and one who is cultivating a way of living. These youngsters want to own and use luxury items in the future that reflect beauty, aesthetics and quality, rather than things that are showy, superficial and are signs of splashy social recognition . In China, ...

1.Identify three uses for a frequency distribution. Epidemiologists use a variety of methods to summarize data. One fundamental method is the frequency distribution. The frequency distribution is a table, which displays how many people fall into each category of a variable such as age, income level, or disease status. Epidemiologists examine factors/variables that are predictors for health outcomes; they also observe patterns of distribution of illness, disability and health-related outcomes (Woodward 10). Among values in statistical data, there may be a presence of repetition within the data set; this is referred to as the frequency of that variable. The ...

Questions and answers

Prepare calculations and a one-two-page analysis (excluding the title and references pages) that addresses the following questions: Assuming that the expectation theory is the correct theory of the term structure, calculate the interest rates in the term structure for maturity. Next, plot the resulting yield curves for the following series of one-year interest rates over the next five years using both a and b. The expectations theory associated with the term structure asserts that the rate of interest for a long-term bond will be the same to a mean of the short-term interest rates that is expected to transpire ...

There are two major branches of Economics, Microeconomics and Macroeconomics. Microeconomics studies the behavior of the individual decision making units in an economy whereas macroeconomics studies the economy as a whole.

Two Microeconomic and two macroeconomic principles:

Microeconomic Principles: The theory of the firm in which we study the cost, revenue and profit of a firm falls under the purview of microeconomics as it deals with an individual decision making unit that is a firm and how it operates. Study of the consumer behavior is another area which fall sunder microeconomics. This deals with how consumers maximize their satisfaction from the consumption of different goods ...

A firm with an objective to progress has to make a constant endeavor to expand its operations and increase its returns. Product innovation, technological progress and unique sales promotion programs helps the firm to expand its market share. The firm requires a continuous flow of information on the trends in demand, consumer’s choice and the competitive element present in the market to take strategic decisions on price, supply and sales promotion measures. In this article we discuss how a firm decides on price and the quantity to be supplied based on market survey data. We take the example ...

Market Structure and Elasticity

This essay will show why each market structure has different levels of elasticity. First, it will focus on the definition of elasticity and then it will answer the question of the reasons for the differences in elasticity. In economics, (price) elasticity is the level of responsiveness of supply or demand after the change of price (Mankiw, 2008). Hence, greater elasticity means higher quantity demanded or supplied goods or services after the price is decreased or increased respectively. In the majority of the cases, the researchers focus on the price elasticity of demand (Mankiw, 2008). Demand elasticity coefficient is calculated ...

Q1 The Australian Housing Market Report, prepared for National Australia Bank Ltd. by RP Data in November 2014, delineates the core changes that occur in the Australian housing market. Nowadays, many economists argue whether or not there is a housing bubble on the Australian housing market, because some features of it let them assume that these market conditions are quite similar to those that existed prior to the collapse of housing markets in other counties (Mercer, 2014). Such market failures, or so-called price corrections, can bear great risks for state stability and welfare due to the strong social impact ...

According to the article, the change in the oil price and quantity can be explained by the economics of demand and supply (Krauss, Sec.3). On the supply side, the supply determinants such as the increasing number of suppliers are causing the shift in the supply curve. For instance, in the United States, the production of oil has almost doubled in the last six years. In addition, other producers such as Algeria, Nigeria, Saudi, Canada, Iraq, and Russia have increased their production (Krauss, Sec.3). Consequently, this has increased the oil supply in the market, and this can be depicted a ...

I intend to use a test, or a statistical hypothesis, to determine the effective relationship between the hours of human life spent for watching media and the effect on the average age of both men and women. The data that I chose to use in order to achieve the result is: the quantitative data, which deal with the time that these men and women spend watching media, and the descriptive data, which show the gender and age. Then, I will formulate the hypothesis: Null = H0 that means the test doesn’t have any effective relationship on the average age ...

Introduction

One of the most important things, if not the most important one, that society needs today is energy. Energy comes in many form and moist literatures focusing on this topic would agree that among all the possible sources of energy, oil comes as the most heavily demanded, and hence the most important. In fact, one may argue that the geopolitical movements and decisions that have been made in the past half a century have been motivated by access to this important energy-related commodity. There are many possible sources of energy but even though oil just comes as one of ...

“Dollar rally” has become probably the top news on foreign exchange markets, which can have serious consequences for the US economy (Graph 1, appendix). Stronger dollar is a kind of head wind for American exporters while import from other countries becomes more competitive. Strong currency can theoretically become a stimulus for the Federal Reserve System provoking increase of interest rates. Many companies all over the world borrowed US dollars for investments or development; therefore, dollar strengthening provokes their debts increase. In current situation Central Banks, foreign exchange traders and exporter all over the world keep a close eye on ...

Abstract

The mean for Z scoresare of better advantage when it comes to portraying the proportions under the curve. This is because they extend over to the decimals as a way of dealing with multiple data with varying values(Kamphaus 2005). The massive data is broken down resulting to compressed outcomes. As z scores are denoted in decimals, they can be converted to percentages to simply the data in a clarified manner. Z-scores thusbring out away of organizing data, to enhance better results and simplified facts,that there can be comparisons to bring out the variations between the multiple things.However, the fact ...

Introduction

In general, every firm possesses a specific market structure, which is mainly determined by the number of buyers, number of sellers, ease of entry or exit, and the degree of product differentiation (Arnold, 2010). The underlying determinants give rise to four types of market structures. These include perfect competition, monopoly, monopolistic competition, and oligopoly.

The short-run and long-run equilibrium for firms in a perfect competition industry is considerably different. Both short-run and long-run revenue data for a wheat farmer have been shown in table 1 and table 2 respectively.

In the long-run, it is assumed that the entry of new ...

DD Curve is the summarized relationship between Exchange Rate and Ouput Level which shows all the combinations of output and the exchange rate for which the output market is in short run equilibrium i.e (aggregate demand= aggregate output)

The above figure represents upward sloping DD Curve explaining the effect of movement in exchange rate on output level when both Domestic Price Levels(P) and Foreign Price Levels(P*) are fixed. The figure represents the effect of depreciation of domestic currency on domestic output levels and related aggregate demand. Thus, when domestic currency depreciates ...

ABSTRACT

The aim of this dissertation is mainly to analyzethe risk in the New York Stock Exchange using Statistical aspects and the computation of Value at Risk. The technique of Value at Risk or Value at Risk (VaR) is a methodology to standardize the calculation of the various risks that occur in a business e.g. banks, stock exchanges and corporations. The risk is defined as the probability of obtaining a result different than expected, the factors that will depend on the position of the entity, the risk factor under consideration and the time of calculation. Thus, the VaR seeks to establish quantitatively the ...

For the past five decades, Venezuela has enjoyed a stable and rising economy. The country was one of the founding members of the Organization of Petroleum Exporting Countries. The citizens of Venezuela have over the years continued to enjoy the revenues generated from exporting petroleum product. The government has provided well-equipped hospital facilities, subsidized food products and provided free gasoline to its citizens (Globe mail 2015). However, Venezuela is not reading from the same script it read twenty years ago. The country is plunged into an economic and political crisis. Oil prices have dropped by more than fifty percent and ...

Monetary policy of a country is maintained by a regulatory committee which regulates money supply and interest rates. Money plays an important role in the economic activities of a country. Recession causes unemployment as was seen during the 2008 when unemployment percentage rose to 10 percent. The Federal open market committee adopted policies like buying mortgage backed securities and reducing interest rates for a long period .The cost and benefits of very low interest rates have been analyzed to understand the changes in the economic activities. By reducing interest rates economic activity is stimulated by more spending on capital goods and increased household ...

Introduction: In the words of Mankiw (2011), “Producer surplus is the amount a seller is paid minus the cost of the production. Producer surplus measures the benefit sellers receive from participating in a market” (p. 141). Contrary the consumer surplus which closely associates with the demand curve, producer surplus significantly depends upon the supply curve. Both consumer surplus and producer surplus serve as vital yardsticks of measuring the market efficiency which in turn defines the benefit of the buyers and sellers participating in the market. The following graph depicts the producer surplus.

Having understood the concept of producer surplus, an ...

INTRODUCTION

Basically, scoliosis is derived from a Greek word and it is known as a medical condition in which an individual’s spine loses its position and it is curvy from one side to another. To define precisely, the shape of the spine or the back is changed from normal to abnormal. Some patients may have had brace treatment during adolescence while others may have never sought treatment during their teenage years. This can occur in the thoracic (upper) and lumbar (lower) spine and has the same basic appearance as that seen in teenagers. (Scoliosis Research Society (SRS)) The conservative treatment is ...

SLIDE-1-4

WELCOME-SLIDE /ADDRESS My dear respected faculty member/teachers and fellows, Asslamualaikum /Good Morning/ Afternoon Oil & Gas industry and environment are much important for us, and we have to save it for ourselves and future generations. Environmental issues are on the increase at the world and it could affect the alternatives of corrosion prevention in the future. Ecological needs still to be developed; however, some elements have been established.

SLIDE # 2

SLIDE#3 Saudi Arabia geography mostly comprises of deserts & seas and its economy is much dependent on oil & Gas industry. We need to protect our industry for sustainable progress ...

Question 1. Explain why the aggregate demand curve slopes downward?

Answer: The summary of the IS-LM model is depicted by AD curve. AD curve slopes downward because at a lower level of price, the real money balance increases, and interest rate falls, which stimulates the investments. As a result the equilibrium income increases.

Question 2. What is the impact of an increase in taxes on the interest rate, income, consumption, and investment?

Answer: When the tax increases, it will cause the IS curve to shift towards left reaching to IS2 from IS1. As a result of this, the equilibrium point A shifts to B where the interest rate will reach to r2 by falling from r1. The income will also be reduced from Y1 to Y2. The increase in the tax ...

Health Economics

Answer 1)

i) The maximum price which Celgene should spend is the intersection point of demand curve and marginal cost, as any consideration above this point will be above his ATC, and will bring losses for the firm.

Answer 2)

i) Annual Revenue of top four companies : 130+74+58+49= $311 Billion Total Revenue of all the companies in the industry: 130+74+58+49+34+17+14+13+10+271=$670 Billion Four-Firm Concentration Ratio: 311/670= 46.41%

ii) HHI: Note: HHI = Sum of square of market share of all the firms iii) As a basic rule, Justice Department always ...

Introduction

In the present business world the assumption is that firms would like to maximize profits, but in the real life maximizing profit has a great impact on the society and the economy (Wigley 1996). Firms are classified according to the type of market structure they belong to. There are four types of market structure; perfect competition, monopoly, monopolistic, and oligopoly. The main factors that influences a market structure are; the number of buyers and sellers, the degree of product differentiation, the knowledge of buyers and sellers regarding a commodity and the strengths of barriers to entry and exit. Different industries ...

In the context of Professor Kallman, risk management is evolving and continuously expanding. The various risk management techniques are developed and researched. Professor Kallman concentrates on an ERM approach to risk management. The risk management is constantly changing and not everyone will openly adopt to any new change. Professor suggests that the risk manager should keep only three questions in mind which are the current position on the S curve, the long term career goals and the procedure to follow so as to reach to the goals. S shaped curve Is followed in many disciplines where the skills of ...

a) All the firms in the perfectly competitive market structure are the price takers while the price is fixed by the industry through the forces of price mechanism. The diagram below indicates the equilibrium state for the Bottled Water market and each individual firm: Figure A represents market demand curve, while Figure B represents demand curve of an individual firm in the perfectly competitive market

b) At the announcement of tap water being toxic, the market for Bottled Water will see a positive change in the demand figures and as a result, the demand curve will shift rightwards. On the other ...

The high school education system, or any learning set-up for that matter, is designed at a certain phasing that is expected to fit the majority, if not all, of the students' learning curve at the age bracket it was meant to support. But, as to any trend of data in most statistics, the speed or phasing of learning of student follow, say, a bell curve, which is to say that there are those who would be learning at a faster phase than the standard phasing in which the high school curriculum is set. A popular fictional example of this is Hermione Granger ...

Answer 1)

A monopoly is characterized by one seller, well define product that has no substitutes. For a firm to maintain its monopoly position, it is essential that the barriers to the entry to the market are high. Although, this kind of market structure leads to deadweight loss in the society by producing lower than efficient output, but still there are many instances as in case of natural monopoly, where a society is served better by the monopolist than a competitive market structure.

A natural monopoly exist in a industry where a single firm can produce output such as to supply the market at lower ...

Engineering

1.0 Dependence of Relative Permeability on Petrophysical Properties

Carbon dioxide (CO2) entering the atmosphere from sources such as power plants, oil exploratory and production sites and traffic pollution from fossil fuel-burning vehicles. CO2 exists in high concentrations in the atmosphere which increases the impact of the greenhouse gas phenomena which makes the global warming problem worse. The relative permeability of soils is linked to finding a solution for removing large concentrations of CO2 by sequestering CO2 in appropriate geological formations. Data from a study by Bennion and Bachu (2005) is available online at the Relative Permeability Explorer. The Explorer is ...

1. Critically evaluate the following suggestion: “If the price elasticity of demand for food is low, therefore if you own a restaurant, you can charge higher price to increase revenue”.

Consumers’ sensitivity to price is known as the price elasticity of demand. Simply put, it measures the degree of responsiveness of consumers to a given change in price. A good with an elastic demand will have a value greater than 1 and will experience that people are very sensitive to a given change in price. Products with an inelastic demand will find that even if price increases by a small amount, the quantity ...

Introduction

Housing bubbles have happened in different economies around the globe. The most recent and most publicized was the subprime mortgage crisis in the United States of America. Understanding what a housing bubble entails in very important in determining whether any economy is experiencing a housing bubble. In economic terms, a housing bubble is the unprecedented increase in the prices of houses because of an increase in demand for housing units, speculation on the prices and the belief that the recent trends in demand and price are surefire forecasts of future trends in the housing market.

A housing bubble starts when the demand ...

Part 1: Supply and Demand

Event 1: With the rise in the average income, the demand curve will shift to the right from DH1 to DH2 as demand increases for each price level. The purchasing power of the consumers increases, so that they can buy more at the same price level. The supply remains the same. The new equilibrium will be at the point A.

Event 2: A fall in population will lead to a left ward shift in the demand curve from DH1 to DH3 as demand decreases. The quantity demanded will fall for each price level as the number of consumers is reduced. ...

1A The leadership of the Virgin Atlantic believes that the success of the business strategy requires them to build their foundations by focusing on business and leisure market. Also, by building foundation by focusing on driving efficiency and effectiveness of the company. They have a simple mission statement, which is to embrace the human spirit and to fly. In contrast, the British Red Cross helps people who are in crisis, irrespective who and where they are. In their effort, they form part of a global voluntary network, who responds to “conflicts, natural disasters, and individual emergencies.”

Virgin Atlantic has a sound ...

In a recent article, Dana Stevens has criticized Steven Johnson’s thesis ‘The Sleeper Curve’. She has expressed her viewpoint mentioning that, watching TV teaches people to watch more TV; unlike Johnson’s belief that TV has become more complicated in the last two decades. Stevens has mentioned that, Johnson’s case may seem solid until defined in quantitative, scientific terms. However, this complicated development of TV shows does not make people smarter is the author’s claim.

Stevens has pointed out the loopholes of ‘The Sleeper Curve’ thesis. She indicates that Johnson has dismissed the controversies of ...

Objective 1:

i) Aggregate demand shows demand for real GDP by all the people in an economy, which they are willing and able to buy at different possible prices at a given point of time, holding other factors constant. The aggregate demand curve is downward sloping and shows an inverse relationship between price level and real GDP. Following is the explanation for downward sloping demand curve, which is very much different from income and substitution effects of demand of a single product:

1) Interest Rate Effects: When price levels increases in the economy, businesses and industries, have to borrow additional funds to ...

Bacterial Growth Curve

If a group of scientist were preparing to perform an experiment to characterize a bacterium's ability to utilize maltose as a sugar source, during which phase of the growth curve would it be best to sample the bacteria for your experiment? Why?

Bacterial growth can be divided into 4 phases, Lag phase, Log phase, Stationary phase and Death phase. Adaptation of bacteria to the environment mainly happens during the Lag phase. Bacteria start utilizing available nutrients and multiple in Log phase. In this case, the ability of Maltose utilization of a strain of bacteria could be done determined in the log phase. ...

The institutional affiliation

The four major market structures in the modern economic world are: perfect competition, monopoly, oligopoly, and monopolistic competition. Each one has strengths and weaknesses, opportunities and threats, so let us take a closer look at them.

Perfect completion is also called pure competition and is a benchmark where competition exists at its best level. Perfectly competitive market has large number of participants and none of them is large enough to influence the product price or its quality. In other words, there are so many sellers that neither price nor quality varies significantly. Pure competition market is easy to enter and exit ...

Introduction

The AS-AD framework is a very useful economy tool, which reduces the economy into a simple model of supply and demand. The aggregate demand curve (AD) is given by the summation of consumption (C), investments (I), government purchases (G) and net exports (X-M). On the other hand, the supply curve is a function of the expected price levels. This paper uses the AS-AD model to analyse the economy at various levels of employment, and the adjustments that accompany movement various policy actions. It begins with a depiction of an economy operating at less than full employment, showing that economies often tend towards the ...