Economics Assignment Example | Topics and Well Written Essays - 500 words - 4

Economics - Assignment Example The policy will become costly because the government will be forced to implement the same policy of buying up the surplus of wheat to prevent price from falling. Moreover, the policy 2 is costly than the policy 1 when the government faces a problem in dealing with the excess wheat it bought. The policy is costly because if government opts to purchase the wheat, but it sells it to developing countries at a rock bottom prices. The government can also sell the surplus to farmers by feeding animals or offering it at a reduced price prices to those in need of it, in other countries. However, the policy of paying the farmers the supply price is costly than that of buying the surplus because the price paid to farmers in inevitably higher than the price received from the sale of surplus. 1f) both Policies will produce equal net economic benefit because the cost associated with both policies affect the society directly, and are subtracted from the producer and consumer surplus. From the graph, the net economic benefit is shown by the triangle Q1P1QE. a) In the real world environments, firms are not identical because technology changes continually and diverse firms have different histories. The change in technology will cause the firm to reduce the cost of production, and in turn causes downshift of in each firm’s marginal cost curve. Meanwhile, the short run supply curve that is the total of the firm’s marginal cost curves will shifts downwards. According to Lipsey and Chrystal (2007, 146), the firm’s produces economic profits and output at which price equals marginal cost. In the perfect competition, the marginal cost curve is greater and stiffer than average cost curve. Meanwhile, there will be no new entrants attracted to the industry because the average cost minimizing output is greater. In the short run, the entry of new firms shifts the supply curve to the right. Each firm old and new will cover its total cost by producing at a

Market Failure and Government Intervention Essay

Market Failure and Government Intervention - Essay Example Market failure is a situation that describes a situation where the effects of demand and supply do not allocate their resources appropriately. This will, therefore, lead to a situation that defines market failure as a marketplace where the unauthorized price system leads to an extremely high or low allocation of resources for specific economic activities. Market failure is always inherent to the market and consequently causes the market equilibrium allocation to be inadequate. In relation to the theorem of welfare economics, there is a possibility that under absolute conditions the allocation of resources in the long-run competitive equilibrium is efficient. Unfortunately, most of the markets always fail in the allocation of various economic and environmental resources thus making the overall allocation of resources inadequate. Adam Smith’s invisible hand is always a major principle in the allocation of resources. Various economists always refer these types of problems to approve the role for government intervention. A prominent economist once urged that existence of a free market always find it challenging to do away with the need for the government (Aldridge, 2005). In a situation where the positive externalities extremely exceed private benefits, the good produced or services provide become non-profitable in the market context, there will be always some benefits associated with goods or services that are allocated free. For example, one puts security lights in his or her compound to light the compound and neighbors use the light too to light their compounds free. The problem is that the market system cannot easily supply goods or services provided that are jointly consumed (Besanko, 2011). Consequently, for a market to work appropriately a two-party agreement is quite preferable. When non-paying parties cannot easily be excluded from the benefits of goods or services where the problem of the free rider arises. Good examples for such a situation include street lighting, roads, bridges, and drainage systems.

Ehnancing level of engagement with performance with data in the Dissertation

Ehnancing level of engagement with performance with data in the allocation and use of Seychelles - would an integrated VFM code - Dissertation Example This culminated to extremely high debt ratios for this nation. Nonetheless, the government needs reforms in the public sector to curb the current problems it is facing. Reforms have been adopted in the various sectors and progress being followed by major bodies like the World Bank and UN Human Development. The allocation and use of resources in this nation shows a huge gap as compared to large nations. Russian being one of them has had adoption of better allocation of resources and aiding institutions develop performance indicators and institutionalize these in budget formulation (Diamond & IMF, 2005, 22). This exacerbates the dire need for evaluating value for money in government spending and finding insights in to areas that the VFM code is lacking and should be integrated. Analysis of the interview 1. VFM processes that are in use and how can they be enhanced through the adoption of a more integrated VFM based approach 67% of the respondents have outlined VFM practices in Educatio n sector. However, there is need to have monitoring unit and review process. 33% of the respondent stated that VFM and performance budgeting will be introduced in 2015. 33% of the interviewee have expressed that VFM is in use in the Auditor’s general office in Seychelles. The reduced number of staff however, is hindering the optimal function of this department. 2. VFM be integration into decision making and resource allocation cycles A SMART analysis is recommended by 33% of the respondent to be used in introducing performance budgets in the budget process. 100% of the respondents state that there is need to have a public monitoring unit or a reviewing body to review budget spending. 33% state that a specific department should be set aside for this purpose only. 3. Feasibility and desirability of the VFM model adaptation in Seychelles 100% response indicate that the integration of this model is a costly agenda but with time it will be fully inducted i.e. 2015. The need for a VFM code is highly vital as expressed by 100% of the respondents. 4. Challenges likely to be encountered and the scope for changes in this direction Ineffective monitoring and implementation unit Lack of good administration in analysis projects Cultural impact – acceptance and gradual change Funding for Research and implementation of the Model in full Bulk budget allocation 100% indicate that there is need to do thorough research in countries that have integrated VFM successfully. There will be gradual implementation of the model by 2015. 5. Form of an integrated VFM code for Seychelles The modest methods recommended are Cost benefit analysis; the 3e’s analysis and the trend analysis deferred form the confidence levels. However, the respondents do not have a clear method to be used. However, there are insights into doing research work in countries that have implemented VFM models successfully. Enhancing levels of engagement with performance data policy Definition of Va lue for Money Code Value for money’ is a term that is used to show an explicit commitment to enabling the best results possible are achieved from the money spent. In the UK Government, VFM has been used to depict a concern for more transparency and accountability in spending

Article Report Essay Example | Topics and Well Written Essays - 1000 words - 1

Article Report - Essay Example As it is, therefore, a person’s career is a key life constituency evolving around work and time. Apart from the provision of income, work offers a sense of purpose, challenge and self-fulfillment. It is a source of interactive life challenges via social networking that often powers on creativity with a sense of identity as an end result. Quite simply, career is a life journey with either the choice of a beaten path or another to navigate (Baruch, 2004). Andolsen’s article entitled â€Å"Six Steps to Your Successful Career Path† is an informative, career guide that engenders navigation principles of self-assessment, decision making and life planning towards a successful career path for RIM professionals. Notably, the multifaceted approach of the modern career training is pushing the employer to the periphery out of the mainstream control of employee-skills (Baruch, 2003). The circumstantial phenomenon leaves â€Å"expertise† as the most treasured and sought-after strategic resource by the employer (Bartlett and Ghoshal, 2002; Andolsen, 2008). With a background of â€Å"a dusty filing system†, the scarcity of the prized resource has informed a structured career path for RIM practitioners aimed at attaining relevance in an era of a digitized managerial control. In a bid to start off RIM practitioners towards the foregoing painstaking journey, Andolsen provides a useful six-step career planning framework ful ly fitted with self-evaluative mechanisms for a dynamic career prospects (Andolsen, 2008). Career is essentially a â€Å"vehicle† for the realization of the self. More accurately, it is a vehicle through which the individual begins a constructive conception of the self in the sense of the world (Adamson, 1997). It is no wonder, therefore, that the interrogation of the self begins the Andolsen’s six-step career planning framework

Security project planning Research Paper Example | Topics and Well Written Essays - 500 words

Security project planning - Research Paper Example el in order to analyze the information security plan as well as its existing situation of the information security attempts with respect to a number of stages presented in the bull eye model. Basically, the bull eye model allows project teams especially the project planners to find out the status of their progress with respect to their information security efforts. It tells them in which areas they need to pay more attention and expand their information security efforts and potential. Additionally, the bull eye model depends on a process of determining the project plans in a series in the context of four layers, which include policies, networks, systems, and applications. These layers are illustrated in figure1. The figure1 shows how these layers are connected with each other (CQUniversity, 2009; Joshi, 2013). Systems: This layer deals with all kinds of systems that can be used by the people. In this scenario, these systems can comprise computers used as servers, systems employed for process control and manufacturing systems and desktop computers. In addition, the bull’s eye model can be utilized to assess the series of actions that need to be performed to put together elements of the information security plan into a project plan. There is a close relationship between all the layers and these layers can be associated with each other in the following ways (CQUniversity, 2009; Joshi, 2013): Until an organization does not develop, communicate and implement an effective and useable information technology and information security policy, it should not spend further resources on additional controls. Once it is ensured that there is an effective policy is prepared, systems are safe, networks are secure, an organization should pay attention to the evaluation and cure of the security of the firm’s applications installed on systems (CQUniversity, 2009; Joshi,

The Economic Environment of Business Essay Example | Topics and Well Written Essays - 3500 words

The Economic Environment of Business - Essay Example This paper aims at indentifying the structure in which Ryanair operates while addressing how it has adopted its market strategies to gain entry into new markets. Also the regulatory issues that it has had in regards to the existing market will be discussed. Lastly, the paper will consider the directions it is taking in terms of international expansion, capital acquisition and challenges faced. In order to understanding the airline industry it is important to understand the customers first. The airlines on the other hand are customers to airline manufacturers like Boeing and Airbus (Palmer & Ponsonby 2002). The governments and the global economic structure are the other factors that highly affect the airline business. It is important to appreciate however that despite the industry having many players and obstacles, it is ever growing in terms of companies expanding while others coming up. The airline business has enhanced international trade and investment for many years thereby taking a huge stake in encouraging globalization (Gregory & Marilyn 2004). This means that many other industries in the global economy highly depend on it. The airline industry has been on a steady growth of about 7% for the past decade in respect to expansion moves but not necessarily profitability. However, business and tourism travel hugely increased over the same period owing to the increased l iberalization of the world trade (Nigel et al. 2003). The European tourism market is shifting to Eastern Europe to destinations that were not considered for tourism there before. The IATA predicts that the airline business will grow tremendously by about 5% to 8% in the coming decade having grown at a rate of 5% this past one (Miriam 2010). However, the same body predicts that the industry will generally grow at a lower pace in America and Europe. The basic reason behind this arises from the fact that these respective industries are already fully developed.

Visit a museum or gallery exhibition or attend a theater, dance, or Essay

Visit a museum or gallery exhibition or attend a theater, dance, or musical performance - Essay Example There was something about the fact that they were elevated above my typical line of vision. Craning my neck, I enjoyed the slow natural rotation of each of the mobiles. Some of the shapes conveyed a sense of whimsy while others had a more threatening feel. After many minutes, I was ready to move on, until I notice how the light played on each of the mobiles and the resulting shadows that were cast upon the walls of the circular room. The shadows created by the lighting installation gave an entirely different dimension to the mobile installation. As the mobiles rotates freely, the shadows cast upon the walls displayed a motion that seemed to be more active than the perceived motion of the mobile. The slightest rotation of the mobile would send a shadow racing across the wall. In addition to this, the shadows were constantly transforming in shape and sharpness. Due to the play of the lighting and the three dimensional construction of the mobiles, some shadows were crisp edged and dark while others, cast from the same mobile resembled amorphous grey smudges. The constant interplay of shadows of different value created movement and action that belied the slowly rotating mobiles mounted above my head. The second exhibition I attended was the Matisse Cutouts in the next room. For the last fifteen years of his life, Matisse rediscovered his passion and creativity by constructing colorful paper cutouts and displaying them on the walls of his studio. Matisse has suffered several personal setbacks that had left him physically and mentally exhausted. He no longer felt inspired to create as a result. While resting, he began to work with the idea of cutting into color to create paper shapes that melded the ideas of painting, drawing and sculpture. The resulting work is interesting to behold, not just because the shapes are beautiful, but also because the scale of the paper cutouts is massive. The most interesting of the