Spss Regression

Simple Linear Regression in SPSS 1. STAT 314 Ten Corvettes between 1 and 6 years old were randomly selected from last year’s sales records in Virginia Beach, Virginia. The following data were obtained, where x denotes age, in years, and y denotes sales price, in hundreds of dollars. x y a. b. c. d. e. f. g. h. i. j. k. l. m. 6 125 6 115 6 130 4 160 2 219 5 150 4 190 5 163 1 260 2 260 Graph the data in a scatterplot to determine if there is a possible linear relationship. Compute and interpret the linear correlation coefficient, r. Determine the regression equation for the data.Graph the regression equation and the data points. Identify outliers and potential influential observations. Compute and interpret the coefficient of determination, r2. Obtain the residuals and create a residual plot. Decide whether it is reasonable to consider that the assumptions for regression analysis are met by the variables in questions. At the 5% significance level, do the data provide sufficient evidence to conclude that the slope of the population regression line is not 0 and, hence, that age is useful as a predictor of sales price for Corvettes? Obtain and interpret a 95% confidence interval for the slope, ? of the population regression line that relates age to sales price for Corvettes. Obtain a point estimate for the mean sales price of all 4-year-old Corvettes. Determine a 95% confidence interval for the mean sales price of all 4-year-old Corvettes. Find the predicted sales price of Jack Smith’s 4-year-old Corvette. Determine a 95% prediction interval for the sales price of Jack Smith’s 4-year-old Corvette. Note that the following steps are not required for all analyses†¦only perform the necessary steps to complete your problem. Use the above steps as a guide to the correct SPSS steps. 1.Enter the age values into one variable and the corresponding sales price values into another variable (see figure, below). 2. Select Graphs ? Legacy Dialogs ? Scatte r/Dot†¦ (select Simple then click the Define button) with the Y Axis variable (Price) and the X Axis variable (Age) entered (see figures, below). Click â€Å"Titles†¦Ã¢â‚¬  to enter a descriptive title for your graph, and click â€Å"Continue†. Click â€Å"OK†. Your output should look similar to the figure below. a. Graph the data in a scatterplot to determine if there is a possible linear relationship. The points seem to follow a somewhat linear pattern with a negative slope. . Select Analyze ? Correlate ? Bivariate†¦ (see figure, below). 4. Select â€Å"Age† and â€Å"Price† as the variables, select â€Å"Pearson† as the correlation coefficient, and click â€Å" â€Å"OK† (see the left figure, below). b. Compute and interpret the linear correlation coefficient, r. The correlation coefficient is –0. 9679 (see the right figure, above). This value of r suggests a strong negative linear correlation since the value is n egative and close to –1. Since the above value of r suggests a strong negative linear correlation, the data points should be clustered closely about a negatively sloping regression line.This is consistent with the graph obtained above. Therefore, since we see a strong negative linear relationship between Age and Price, linear regression analysis can continue. 5. Since we eventually want to predict the price of 4-year-old Corvettes (parts j–m), enter the number â€Å"4† in the â€Å"Age† variable column of the data window after the last row. Enter a â€Å". † for the corresponding â€Å"Price† variable value (this lets SPSS know that we want a prediction for this value and not to include the value in any other computations) (see left figure, below). . Select Analyze ? Regression ? Linear†¦ (see right figure, above). 7. Select â€Å"Price† as the dependent variable and â€Å"Age† as the independent variable (see upperleft fi gure, below). Click â€Å"Statistics†, select â€Å"Estimates† and â€Å"Confidence Intervals† for the regression coefficients, select â€Å"Model fit† to obtain r2, and click â€Å"Continue† (see upper-right figure, below). Click â€Å"Plots†¦Ã¢â‚¬ , select â€Å"Normal Probability Plot† of the residuals, and click â€Å"Continue† (see lower-left figure, below).Click â€Å"Save†¦Ã¢â‚¬ , select â€Å"Unstandardized† predicted values, select â€Å"Unstandardized† and â€Å"Studentized† residuals, select â€Å"Mean† (to obtain a confidence interval†¦output in the Data Window) and â€Å"Individual† (to obtain a prediction interval†¦output in the Data Window) at the 95% level (or whatever level the problem requires), and click â€Å"Continue† (see lower-right figure, below). Click â€Å"OK†. The output from this procedure is extensive and will be shown in parts in th e following answers. c. Determine the regression equation for the data. From above, the regression equation is: Price = 29160. 1942 – (2790. 2913)(Age). 8.From within the output window, double-click on the scatterplot to enter Chart Editor mode. From the â€Å"Elements† menu, select â€Å"Fit Line at Total†. Click the close box. Now your scatterplot displays the linear regression line computed above. Graph the regression equation and the data points. d. e. Identify outliers and potential influential observations. There do not appear to be any points that lie far from the cluster of data points or far from the regression line; thus there are no possible outliers or influential observations. f. Compute and interpret the coefficient of determination, r2. The coefficient of determination is 0. 368; therefore, about 93. 68% of the variation in the price data is explained by age. The regression equation appears to be very useful for making predictions since the value of r 2 is close to 1. 9. The residuals and standardized values (as well as the predicted values, the confidence interval endpoints, and the prediction interval endpoints) can be found in the data window. 10. To create a residual plot, select Graphs ? Legacy Dialogs ? Scatter/Dot†¦ (Simple) with the residuals (RES_1) as the Y Axis variable and Age as the X Axis variable. Click â€Å"Titles†¦Ã¢â‚¬  to enter â€Å"Residual Plot† as the title for your graph, and click â€Å"Continue†.Click â€Å"OK†. Double-click the resulting graph in the output window, select â€Å"Options† ? â€Å"Y Axis Reference Line†, select the â€Å"Reference Line† tab in the properties window, add position of line â€Å"0†, and click â€Å"Apply†. Click the close box to exit the chart editor (see left plot, below). 11. To create a studentized residual plot (what the textbook calls a standardized residual plot), select Graphs ? Legacy Dialogs ? Scatter/Dot†¦ (Simple) with the studentized residuals (SRES_1) as the Y Axis variable and Age as the X Axis variable. Click â€Å"Titles†¦Ã¢â‚¬  to enter â€Å"Studentized Residual Plot† as the title for your graph, and click â€Å"Continue†.Click â€Å"OK†. Double-click the resulting graph in the output window, select â€Å"Options† ? â€Å"Y Axis Reference Line†, select the â€Å"Reference Line† tab in the properties window, add position of line â€Å"0†, and click â€Å"Apply†. If 2 and/or -2 are in the range covered by the y-axis, repeat the last steps to add a reference line at â€Å"2† and â€Å"-2† (see right plot, above); any points that are not between these lines are considered potential outliers. If 3 and/or -3 are in the range covered by the y-axis, repeat the last steps to add a reference line at â€Å"3† and â€Å"-3†; any points that are beyond these lines are considered ou tliers. 2. To assess the normality of the residuals, consult the P-P Plot from the regression output. g. Obtain the residuals and create a residual plot. Decide whether it is reasonable to consider that the assumptions for regression analysis are met by the variables in questions. The residual plot shows a random scatter of the points (independence) with a constant spread (constant variance). The studentized residual plot shows a random scatter of the points (independence) with a constant spread (constant variance) with no values beyond the  ±2 standard deviation reference lines (no outliers).The normal probability plot of the residuals shows the points close to a diagonal line; therefore, the residuals appear to be approximately normally distributed. Thus, the assumptions for regression analysis appear to be met. h. At the 10% significance level, do the data provide sufficient evidence to conclude that the slope of the population regression line is not 0 and, hence, that age is u seful as a predictor of sales price for Corvettes? Step 1: Hypotheses H 0 : ! = 0 (Age is not a useful predictor of price. ) H a : ! † 0 (Age is a useful predictor of price. ) Step 2: Step 3: Step 4: Significance Level ! 0. 05 Critical Value(s) and Rejection Region(s) Reject the null hypothesis if p-value ? 0. 05. Test Statistic (choose either the T-test method or the F-test method†¦not both) T = –10. 8873, and p-value = 0. 00000448 Step 5: Step 6: F = 118. 5330, and p-value = 0. 00000448 Conclusion Since p-value = 0. 00000448 ? 0. 05, we shall reject the null hypothesis. State conclusion in words At the ! = 0. 05 level of significance, there exists enough evidence to conclude that the slope of the population regression line is not zero and, hence, that age is useful as a predictor of price for Corvettes. . Obtain and interpret a 95% confidence interval for the slope, ? , of the population regression line that relates age to sales price for Corvettes. We are 95% co nfident that the slope of the true regression line is somewhere between –3381. 2946 and –2199. 2880. In other words, we are 95% confident that for every year older Corvettes get, their average price decreases somewhere between $3,381. 2946 and $2,199. 2880. j. Obtain a point estimate for the mean sales price of all 4-year-old Corvettes. The point estimate (PRE_1) is 17999. 0291 dollars ($17,999. 0291). k.Determine a 95% confidence interval for the mean sales price of all 4-year-old Corvettes. We are 95% confident that the mean sales price of all four-year-old Corvettes is somewhere between $16,958. 4604 (LMCI_1) and $19,039. 5978 (UMCI_1). l. Find the predicted sales price of Jack Smith’s selected 4-year-old Corvette. The predicted sales price is 17999. 0291 dollars ($17,999. 0291). m. Determine a 95% prediction interval for the sales price of Jack Smith’s 4-year-old Corvette. We are 95% certain that the individual sales price of Jack Smith? s Corvette wi ll be somewhere between $14,552. 9173 (LICI_1) and $21,445. 1410 (UICI_1).

Effects of the Black Death Essay

Imagine one half of the world’s population by wiped out in a space of less than a ten years. You probably cannot imagine such an event occurring; it seems unreal. Yet, this very thing happened in the between the years 1347 and 1351 in Europe. This massive destruction of human life was known as the Black Death. This Black Death was an ecological disaster on a global scale. The effects of the plague on human and certain animal populations from East Asia to as far west as Greenland were catastrophic. All facets of society, from peasant to king were affected; no one was safe. All of society was affected; nothing would ever be the same. Thus, there were many economic, social, and political effects of the Black Death. Before one can understand the effects of the Black Death, one must understand precisely what is and what it did. The Black Death was the common name for what is now known today to be three different diseases. The first, and most common of these was Bubonic Plague. The Bubonic Plague lasts for approximately six days. The early symptoms include hemorrhaging and splotches on the skin. Later on, various neurological and psychological disorders can occur. Bubonic Plague is fatal fifty to sixty percent of the time. The other two forms of the Plague, Septicaemic and Pneumonic were both much more rare, but much deadly, killing ninety-five a hundred percent of the time. The Black Death did not originate in Europe, however. It originated in Central Asia, far away from Europe. So how did it get to Europe, and why during the Late Middle Ages? Before the time of the Late Middle Ages, infrastructure was vastly underdeveloped. Thus, diseases spread by humans could not possibly spread far, as most humans did not move too far from their homeland. By the time of the Late Middle Ages, trade and infrastructure had evolved into an advanced state. Trade routes connected all the main cities of Europe to the far away lands of Asia. Now, as the Black Death epidemic began in Asia, it began to slaughter and spread immediately. By the 1350s, two-thirds of China’s population lay dead, but this was just the beginning. The Black Death quickly spread across Central Asia, following the route of the Silk Road. Soon it reached the Middle East, where Italian merchants proceeded to spread it to Europe via their trading  ships. At the time the Black Death reached Europe, the population was in full swing. Population numbers, due to new agricultural methods and other means, were at all time highs. The Black Death would quickly change that. The Black Death, traveling quickly across trading routes covered Europe in the brief span between the years 1347 and 1351. Everywhere from Ireland to Scandinavia to Spain was hit. Once the Black Death hit a town only some were spared. Anywhere from twenty-five to seventy-five percent of a town’s population would perish. And once a town would begin to recover, the Black Death would strike again and again, relentlessly slaughtering thousands. For an event as destructive as the Black Death, the economic effects are vast. After the plague had swept through Europe and reduced the population by a third, a sudden surplus of all items and food drove prices down drastically. In reply to this people began to wildly overspend what was not worth that much. However, after the excess amount of food had been used up, the insufficiency of labor began to make an impact. Prices rapidly shot up, way beyond pre-plague rates. In addition, those laborers who remained soon were in high demand. They realized that their services were rare, and thus they could charge any rate they wanted. In response to this, governments created laws limiting wages. This in turn would later cause peasant revolts in the later 14th Century. However, Some places experienced economic prosperity as a long term consequence of the plague. In addition to the effects on wages, there were other economic effects as well. Towns in the Late Middle Ages were slowly becoming important centers of trade. Towns were the center of commerce, and places were markets were. The Black Death struck these very towns the hardest. Towns, being crowded and infested by rats, were more susceptible to the plague than rural areas. Thus, people abandoned many towns for the safety of the countryside. This heavily stunted trade, as now towns were abandoned, and there was no central location for people to meet and trade. Furthermore, there were many social effects as well. Middle Age culture  became a culture of death and decay. Life became cheap. The stench of death became unavoidable when entering towns and cities. Everywhere there were the dead and the dying. Bodies were literally piled up outside in wheelbarrows, waiting to be dumped. The dead were not treated with respect or dignity. Fear was so great of infection that bodies were simply piled up and dumped in mass graves. People, ignorant of what was causing this terrible catastrophe, blamed those on the margins of society. Others questioned the Church. Why would God inflict such suffering? The Church had no answers, so people began to question it more and more. Some took matters into their own hands. Groups of people, known as flagellants began to go through towns and cities, wiping themselves to appease God. They believed that if they caused enough pain to themselves, then perhaps God would ease their suffering. In addition, the new devaluing of life and questioning of the Church, the fabric that held society together society was ripped. The plague affected everyone from kings to peasants. Soldiers who once protected peasants were no longer there, and survivors were vulnerable to looters and highwaymen. Nobility who once guided society were now deceased, and people could no longer count on them to run manors and provide for general protection against enemies. Nobles could no longer rely on peasants, as they quickly became scarce. In short, the Black Death caused a violent upheaval on society as death became common, and nothing could be trusted. In addition to the many social and economic effects, there were also many political effects of the Black Plague. As stated before, the Black Plague affected virtually all facets of society, including the nobility. The nobility’s ability to effectively assert their power became extremely limited due to the rapid decline of feudalism that occurred due to the plague. The main source of the power of the nobility came from their feudal powers, and once these powers became limited, the ability of the nobles to effect political change also became limited. Before the Black Plague, kings had to take into account the nobles and their ideas. Following the Black Plague, nobles became helpless, unless they agreed to further the kings’ claims and demands. This in turn further centralized power, which was a trend of the 14th Century. The main political effect of the Black Death was  the further loss of power of the nobles in government. The Black Death was the terror of the Middle Ages. Serf and king alike feared it. And where the plague struck, nothing could be the same. Overpopulated towns suddenly became deserted. Flourishing commerce suddenly became dead and empty. Whereas the dead were once respected and taken care of, now they were devalued and thrown in piles. The kings continued to gain in power, due to the weakening of the feudal system. In retrospect, the Black Death was, perhaps, one of the most transforming events in human history. The economy, society, and politics of the time were transformed forever.

A Savings And Credit Cooperative Economics Essay

A Savings And Credit Cooperative Economics Essay The inception of SASRA in October, 2009 made it a requirement for SACCOs in Kenya to acquire licenses in order to be take deposits. Since then, there has been a steady increase in the number of deposit taking SACCOs in Kenya seeking licensing with already licensed and operational SACCOs growing in terms of membership, deposits, total assets, gross turnover, loans granted, and equity (SASRA, 2011, p. 25). A total of 570 SACCOs were registered between 2009 and 2010 increasing total registered and operational deposit taking SACCOs to 3,632. SACCOs are increasingly allowing persons who were not in the original bond to become members. This is to respond to competition and ensure sustainability as the traditional market shrinks. For example rural farmer based SACCOs are rebranding to position themselves as a national SACCOs so as to attract non farmers such as business persons and employed persons (SASRA, 2010). A Savings and Credit Cooperative (SACCO) is one â€Å"that pools savings for its members providing them with credit facilities† (UN-HABITAT, 2010). The general objective of SACCO is to promote the economic interests and general welfare of its members. They are formed based on a common bond which could be economic activity, geographical location or employment. The ICA Statement on the Co-operative Identity defines a cooperative as â€Å"an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise†. Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. Co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others (Bibby & Shaw, 2005). The 1995 ICA Congress also reformulated seven principles of co-operatives. In summary, they are: Voluntary and open membership Democratic member control Member econom ic participation Autonomy and independence Education, training and information Co-operation among co-operatives Concern for the community Different SACCOs provide a number of products which include but are not limited to credit services, deposit and savings facility, cheque clearing, bankers’ cheques, standing orders, safe custody, and salary advances. History of SACCOs The pioneers of modern cooperation emerged in working- class environments in European Industrial cities of the 19th Century. In the 1840s,the first to industrialize countries (Great Britain and France),pioneers of co-operative invented models of the consumer cooperative and the labor cooperative to defend and promote the interests of working-class families in the face of the social disasters caused by industrial revolution. The second generation of the pioneers of modern cooperation emerged, in certain European rural environments in the late 19th century. In the 1860s, these pioneers created the models of agri cultural cooperatives and savings and credit cooperatives inspired by the success of the consumer cooperatives formula in Great Britain and based on old traditions of rural solidarity aimed to meet the primary economic needs, which went unsatisfied. Agricultural cooperatives then enabled families of farmers and livestock raisers to organize their own supply systems of agricultural inputs and market their products and no longer depended on merchants and businessmen in the cities. The SACCO helped them to stop depending on moneylenders and to find the credit necessary to modernize their agricultural cooperatives (Mwakajumilo, 2011) .

Geologic Hazards Project Research Paper Example | Topics and Well Written Essays - 2000 words

Geologic Hazards Project - Research Paper Example The gradual shifting of the pole is believed to have been the reason for destruction of entire human civilizations. As this reversal takes place, the earthquakes augment and earthquake storms take place in the world. Furthermore, three new volcanoes are born at many places in the Pacific Ocean. NASA has recently found out that there is a break in the magnetic field of the Earth. These changes keep on building and concurrent. (Syzygyastro) The constant changes that go inside the surface of the Earth cause this reversal. The core of the Earth moves around a little faster than the crust of the Earth which is slowed by tidal dragging of the moon. The disparity in the rotation between the two layers produces the magnetic field. When the core rotates, the lines of magnetic field act as what takes place on the Sun’s surface as equator and sun have different rotations from the pole. The disparity of rotation of both of these surfaces creates a stretch in the lines of magnetic field so they wrap round and round the Earth or the sun. What happens is that magnetic field lines the field and recreates itself. The discrepancy of the rotation of Sun happens at a faster rate than the Earth so the magnetic cycle on average takes around 22 years in the Sun. The Earth takes a very long time for its periodic cycle due to the interaction of the sun, planets, and the moon and slower winding. These reversals of the field can take mi llions of years to take place. At present, Earth’s field lines are constantly breaking down, making a complicated pattern of hundreds of magnetic zones similar to the ones on the Sun. This violation in the earth/s magnetic allows the solar winds to go to the atmosphere of Earth. The consequence of these modifications will be auroras all across the Earth even at the equator. The second alteration is the diffusion to the

Are Liberty and Security Mutually Exclusive, or Mutually Supportive Essay

Are Liberty and Security Mutually Exclusive, or Mutually Supportive - Essay Example A careful analysis of theory and practice of security, however, indicates that security is not opposed to liberty, and in fact augments it when used judiciously, but that there is a fine tipping point after which security begins to impinge on liberty rather than support it. The question as to the role and purpose of the government has been a central question to political philosophers for centuries now. These philosophers often work under to distinct precepts that were originally envisioned by Francis Bacon, Thomas Hobbes and John Locke: that people were born free in their â€Å"state of nature† (Hobbes 32), but that they are universally found to be under some sort of governance, which curtails their freedom. The fundamental question is then, why do people give up their freedoms to another power? An explanation, the social contract, was developed by John Locke – he states that absolute liberty is not in fact a good thing, because it would mean liberty to steal from, and otherwise harm one another, so people give up their own liberty for security (Dunn 75). ... e of the legitimate rolls of government was the regulation of morality: it was supposed that this was a form of security, and that without a patrician government to look after its population people would devolve into immoral behavior, and thus would harm themselves and the state. John Stuart Mill countered this thinking in his seminal On Liberty, in which he argued that it was not a legitimate role of government to regulate morality (Mill 374). This shifted thinking permanently on the role of government in the preservation of liberty. Both of these trains of thought are in fact correct. It cannot be denied that government’s granting and increasing security does, to a particular point, improve liberty: a well policed street will ensure that people have the ability to walk down it unmolested, and a well regulated market ensures the liberty of everyone playing by the same economic rules. Yet it also cannot be denied that governments sometimes go too far in curtailing liberty at t he cost of security, by, for instance, monitoring people without their knowledge, or policing ideology (Rovine 42). So where does the tipping point occur? Government’s enacting of security begins to unduly curtail liberty when actions taken in the name of security modify people’s behavior more than the threat or fear of a lack of security would do. For instance, locking everyone in a solitary cell would certainly lower the murder rate, but this would modify people’s behavior much more than the fear of murder does. A well regulated police force, on the other hand, increases liberty by countering the behavior modification that fear of murder by a completely un-policed society would have. Security and liberty are often seen as each other’s antithesis, and for good reason. Governments have

J&G Garden Center Case Study Example | Topics and Well Written Essays - 750 words

J&G Garden Center - Case Study Example Additionally, it is reported they are competent, efficient, and effective in the execution of their duties (J&G Garden Center Case 171). Therefore, it would be imperative for Mr. Weed to take the liability of what he has actually tried to avoid. In regards to the environmental pollution from the chemical and other biohazards related to his product, he built a secure house with a locked barbed wire face as well as an alarm system that would alert them in case of any danger related to his business. Moreover, he constructed Material Runoff Proof Segment and took a special liability insurance policy to ensure the business is covered at any time of any dangerous eventuality. All these initiatives were meant to protect the worker, customer, the community, and the environments that are exposed to the business’ products. In other words, the business if fully compliant with regulatory, customers and environmental safety thereby it neither have loopholes nor undermined operational requi rements. However, it is proper that Mr. Weed is considered an ethical conflict for the closure of the divider. The business has a high profit margin and the only this Weed can do is to provide additional education on the after use safety measures through sensitizing the community and the persons he considers of concern (Duska and Rongione 92). In addition, he may hire or train more workers on the use of his products so that they may conduct regular monitoring and inspection places or fields that these chemicals are used to reduce the negative effects of these chemical on the users and their immediate surroundings (J&G Garden Center Case 171). In this manner, Weed shall have adequately solved the ethical conflicts surrounding his business. Part Two: Closing the New Division It is proper that the business is shut down the business since it is apparent that the business does not meet the minimum requirement set by the business. The minimum requirements herein are the ineffectiveness of the measures already intended to be met by the business. It should be noted that the company should maintain its name at all time during its operational life since the name company of the company is what makes such a company viable (J&G Garden Center Case 172). In fact, serious ethical issues affecting new division including lawsuits may affect the operation of Weed’s other business. Therefore, it will only be proper to shut down the business in favor of the operation of other businesses. However, instead of closing the business, Weed may improve the business profile with the focus on solving the ethical and legal problems currently facing the business. Numerous initiatives and measure may be taken towards improving the current business situation. As suggested by his wife and partners in his businesses, Weed should embark on a serious marketing (Schwartz 94). Marketing is a sure way of building confidence of the customer and the public on the business. Additionally, in his m arketing scheme, Weed should include well-articulated measures towards preventing the already identified problems associated with the application of his products. The business should also develop intensive monitoring trends to ensure that their customers, other than promising to adhere strictly to the down listed precaution requirement, they are actually following them to the letter (J&G Garden Center Case 172). Efficient, effective, and adequate monitoring will enable the company to detect any problem that is associated with

Defibrillators Essay Example | Topics and Well Written Essays - 2500 words

Defibrillators - Essay Example Per the European Union legal framework, a medical device is an apparatus that is used in diagnosis, prevention, or treatment of diseased conditions where its mode of action is not through chemical action in a patient’s body. Medical devices consist of enormous variations with regard to their sophistication and scope of use, which ranges from tongue depressors to medical robots and cardiac pacemakers. Biomedical engineering involves fundamental aspects of the device production including designing, system analysis, and practical application. This is in line with ensuring that quality and reliable devices. This paper seeks to highlight defibrillators as medical devices with regard to their history, scope of application and safety aspects of the device in terms of human factors engineering. It is estimated that about 30,000 people in the United Kingdom experience cardiac arrest away from the hospital annually and they are assisted by medical emergency response units (Resuscitation Council, 2010). Such assistance is facilitated by the availability of portable medical devices, which prove essential in the delivery of the critically required services. Among the crucial devices required in relieving the effects of cardiac arrest is the defibrillator. Defibrillators are apparatus, external or implanted, that deliver an electric shock to the heart via the chest cavity in order to restore normal heart rhythms. Defibrillators function by delivering a joust of electric current to the heart in order to polarise the muscles and nerve cells, allowing them resume a normal rhythm (Street, 2012). Implanted Cardioverter Defibrillator (ICD) constantly monitors the heartbeat rate as well as its rhythm to detect abnormal and life threatening rhythms, which on detection an electric shock is sent to the heart to restore a normal rhythm (Defibrillation, n.d). The device also works as a pacemaker to curb the effects of the electric shock, which slows down the rate of the heartbeat . The above is illustrative of a monitoring and feedback mechanism, where the defibrillators function based on signals taken from the patient after its analysis. Among the external defibrillator units are automated external defibrillators (AED), which automate the patient’s heartbeat rhythms for monitoring as electric shock is administered to normalise the rhythm. AEDs consist of in-built computer systems that examine the patient’s heartbeat in order to assess the need to administer defibrillation (Sciammarella, n.d.). One of the common causes of cardiac arrest is ventricular fibrillation, which is characterised by chaotic, unorganised electrical malfunction of the heart resulting in a less effective heartbeat (Khandpur, 2003). This chaotic electrical activity can be stopped and its effects reversed by the application of an electrical counter shock where heart assumes a normal and organised rhythm. Disorders in the generation of a normal pulse by the heart results irre gular heartbeats manifested in arrhythmias. Abnormal automaticity and triggered activity are characteristic of conduction abnormalities that trigger ventricular tachycardia. In addition to the use of medication and surgical procedures in the management of arrhythmias, defibrillation comes in handy in resolution of ventricular tachyarrhythmia and atrial fibrillation. This is especially so for medical emergencies that occurs away from healthcare facilities.

Should the Fed intervene in Asset Bubbles Thesis

Should the Fed intervene in Asset Bubbles - Thesis Example Since hindsight offers perfect or a 20/20 vision, many people opined the US central bank failed in its task to promote healthy and sustainable economic growth for the country, and by extension of being a multi-trillion dollar economy, for the entire world. The advent of a global economy has made potential economic disruptions like bursting of asset bubbles a serious matter to contend with. Economists, politicians and policy makers now pay more attention to the formation of asset bubbles, how these start, how these bubbles could be prevented from growing bigger and what actions can be considered as appropriate if a bubble is clearly identified. It must be admitted that despite the experience of several prior asset bubbles, policy options are still woefully limited. Economists and academic theorists are conflicted on what responses are considered to be the most appropriate in such situations. The experience with asset bubbles is not fairly recent since the phenomena had existed since t he middle Renaissance period. A frequently-used example was the so-called â€Å"tulip-mania† in 1634 up to 1637 in which a few special black tulips fetched the same price as a mansion! Although there are many types of asset bubbles, there is some agreement that bubbles are formed by two causes: the first cause is when financial intermediaries like banks, brokers, brokerage houses and even the central bank (by failing to act and is guilty by default) â€Å"pump† up the price of an asset or a particular asset class; the second cause is when a nation's financial institutions lend to people or groups who are politically connected. The US housing market is a good example of the first cause cited above in creating a bubble. Banks, mortgage lenders and mortgage brokers fed the frenzy by making obtaining a housing loan very easy, even to an extent of giving out mortgages to people who were imminently not qualified for a loan for the reason of not having adequate incomes to pay the monthly amortizations or even approving a loan to non-existent borrowers (bordering on outright fraud). The practice of American banks to originate and distribute (in contrast to other countries in which banks originate and hold) is seen as further hastening the expansion of the housing bubble. Some experts blame complex financial instruments known as derivatives as the prick that finally caused the bursting of the housing bubble; in particular, they liked to cite collateralised debt obligations (CDOs) as the culprit. CDOs were and still are risky investment instruments; these represented an ill-defined asset class, namely derivatives similar to options (puts and calls) and credit default swaps. The second cause is when large sums of monies are lent to people who are politically well connected in a form of financial cronyism. Although not very prevalent in the US and in other Western economies, such practice is contributory to asset bubbles because it results in the misallocati on of scarce financial resources better invested elsewhere. Good examples are the Korean chaebols and the Japanese zaibatsu which are the equivalents of classic American business conglomerates. The bottom line is that cheap funds channelled to the conglomerates cause them to drive up the prices of their

Knowledge Management (Assignement Question Details as Depicted Below) Assignment

Knowledge Management (Assignement Question Details as Depicted Below) - Assignment Example Now the question arises as to what exactly is knowledge and how is it different from information (Han 2001). Information is data organized in a proper form and in a way so that interpretation and analysis of the material is easy. Whereas when information is acquired by an individual it becomes knowledge. Knowledge is formally defined as acquaintance to information present. The main aim of knowledge management is to make knowledge available in a way to all those concerned in a way that it can be utilize in the best possible way so as to benefit the organization as a whole. This includes both social and technological effort. This subject has gained a lot importance in the corporate environment in the recent years because of several benefits it offers. For instance it reduces the chances of repetitive and redundant work. Everyone in the organization will know what information is already present and they will not waste time and resources on acquiring the same data and they will move ahead from that point, extending the thread from there (Steyn 2003). Apart from this in today’s world where the external environment is so volatile and fast changing that internal stakeholders especially decision makers have to work really fast to catch up with the fast changing trend and stay competitive. In circumstances like these information becomes a vital resource . Those who know are the ones who will survive. Apart from this another advantage that knowledge management offers is the reduction in time required to train new employees or to bring about a change in the organization (Foote 2001). Another aspect of today’s corporate world is that organizations have to stay flexible and to adapt to changes of the market. For this purpose change management has become a famous topic now a day’s for research and development and adequate knowledge management improves this process. The main argument that will be presented by this paper is

Confrontational level Essay Example for Free

Confrontational level Essay Shown by Helens sheer lack of thought for her daughter Jo, she has no consideration for her feelings. She continually ensures the suppression of her daughter and at one stage has the audacity to express this on a confrontational level. I have to consider something far more important than your feelings.(Pg 1)  This is further confirmation of Helens severe disrespect and heartlessness towards her daughter. An attitude which stemmed from her initial rejection to motherhood and forthcoming child. She blames Jo for her divorce-her birth being the event that revealed Helens unfaithfulness to the husband she described as a retard. In my judgement, she has not learnt to handle her problems and take full responsibility for her immoral doings. This has proven very costly in both her and her daughters lives. Cathies mothers consideration for her can be described as the other end of the extreme. Her calm, quiet approach to the situation reveals how valuable she sees their relationship; enough not to be damaged in a way that Helen made possible.  The fact that Helen doesnt know much about her daughter and Cathies mother feels she knows her daughter is of significance in their relationship. Helens reaction to Jos personal drawings was one of shock, yet pleasant surprise. I didnt realise I had such a talented daughter.  This demonstrates not only the fact that she hasnt spent quality time learning and bonding with her daughter, but the sad reality that Helen hasnt desired to. Prior to the above quote, Helen implied that she expected her daughter to tell her everything about herself she has a right to know.  I thought you said you werent good at anything  Here, we see that Helen has just taken Jos word for the matter; she has simply accepted it and not bothered to know otherwise.  The fact that some daughters are able to talk to their mothers about boyfriends/relationships shows the closer friendship a mother and daughter can share. Helen didnt know whether or not Jo ad a boyfriend, and this mirrors the lack of confidence Jo has in Helen as a Mother, let alone a friend. Helen doesnt seem to possess A Mothers Fondness the built-in, unconditional, love and interest a Mother has in the welfare of their child. On the other hand, Cathies mother feels that she knows her child all too well. She is confident that her daughter wouldnt understand her if she showed she was angry:   I knew that she would not see my anger, as love for her  The Mothers maternal instincts lead her to believe something was not right when her daughter didnt arrive home on time. This shows that Cathie is respectful of her Mothers wishes to be home on time. Her mother is familiar with her character and feels she knows her. She says:  she would have poured to tell me if she was going away anywhere.  When each Mother-daughter relationship begins to encounter difficulty, the Mothers react differently. Cathies Mum blames herself for her daughters behaviour. She is fully aware of her parental responsibilities/duties. She knows that her actions have a deep impact on her daughter and their relationship status. I had failedit was my fault she was as she was. I had brought myself pain.  The Mother distinguishes the problem and wants to make amends to their estranged relationship. She does her best to prevent yet another hurtful row and keeps silent; praying it wont happen again.  Helen however, (as mentioned previously) doesnt spare a single thought for her daughters feelings. She quite willingly expresses her thoughts and emotions in a rude and obnoxious manner and openly declares that she is not responsible for her daughter or their situation.  Have I ever laid claim to being a proper mother.  This quote shows that she is not hypocritical about herself, which in a way is a good thing. However, there is nothing positive about Helens approach to motherhood. Unlike Cathies Mother who blames herself, Helen points her finger at Jo:  Its your fault In act__scene__, Helen attempts to justify her reasons for neglecting Jo.  QUOT   The way in which the daughters are portrayed in the text differ in that so much sympathy is evoked in the audience for Jo. She has had to live her life and grow up without a true Mother. She has not had someone to look up to, someone to show her love and be a backbone, especially during the time of adolescence. The atmosphere at the flat is one of hopelessness, tension and distress, which is why we feek sirr for her. SETTING ON STAGE In A Mothers Fondness we sympathise with the Mother as she cares so much for her daughter who feels as if she doesnt.  Despite the many differences in each mother-daughter relationship, there are also many similarities. One of which is the way both daughters use some form of escapism to avoid facing up to their problems. When Cathie learned that her mum had been everywhere looking for her, she asked her friend Elaine if she could stay and not return home. She had missed two busses and expected that her mum would be very upset with her. She would be furiousThis meant another row.  Elaine, I dont want to go home. Cant I stay here?  It is evident from this quote that Cathie would rather remain with her friend, away from home and the prospect of another argument with her mother. This teaches the audience that the disagreements she had with her mother were emotionally very damaging she couldnt bear another instance wherein she and her mother were on bad terms.  Unlike Cathie, Jo recites nursery rhymes for fun with Geoff. This can be read into and analysed in a psychological sense: the nursery rhymes bring her laughter, which aids in transporting her to the childhood she never enjoyed. You look like a spratt. Jack Spratt, whod eat no fat, his wife would eat no lean and so between then both, you see, they licked the platter clean. Did u enjoy that dramatic recitation? (pg51)  Her question at the end prompts a positive response from Geoff who doesnt want to deflate her cheerful mood. She encourages that he joins in, wanting someone to play with as it were.  You say one We can imagine that this was said with a happy expectant look upon her face. Geoff then proceeds to recite another rhyme and upon completion, she expresses how much she enjoyed it: I like that. Do you know any more?  Jo is keen that this playful, childlike interaction between them continues. She gets much more out of it than would any other average person. The fun factor and distraction nursery rhymes brought about were doing her good she was not dwelling upon thoughts of her broken family.  Both Jo and Cathie feel as though they are not receiving enough care and attention they want to feel loved. This is another similarity found in each relationship. During the car journey Cathie and her mother made home, they remained silent (as previously highlighted). Though most other teens resent the fact that in the same situation, their mums would talk endlessly about how worried they were and so on, Cathie would rather that was the case. I was angryshe was acting as if nothing had happenedShe simply didnt care about me  In any relationship, it is important that there is balance between certain factors. Cathie and her mum are at one end of the extreme maintaining their silence no fuss. This is the absolute opposite to Jo and Helen who are at the other end of the extreme.  In Jos case, she threatens to jump out of the window in order to determine whether or not Helen cares about her. She wants to hear someone does actually care for her. Her desperation and longing for love is made evident in her dramatic actions. Jo is aware that the concept of actions speaking louder than words is never going to be a reality for her. Therefore she resorts to grabbing any ounce of love Helen had to offer her even it was mere words. This attention seeking is to be expected from Jo, as Helen never really gave Jo a mothers love. We can be certain that a lack of communication is common within each relationship. Weve seen how Cathies mother found it difficult to express her upset to her daughter and visa versa. We also know that the effects of this were negative: Cathie felt that her mother didnt care for her, and her mother felt that Cathie hated her. The two of them are alike in that they pretend that everything is ok between them when there are clearly important issues to be tackled and discussed. It is important that each mother and daughter feel they can talk to each other on a mature and serious level. At times, we see Jo making attempts to do so. However, Helen does not respond to this very well and is constantly changing the subject showing her inability to listen to her daughter.

The Influence of Police Culture

The Influence of Police Culture In order to appropriately address the topic of discussion, firstly, it is important to understand what is meant by the concept police culture. After establishing its definition, it then becomes a task to assess whether police culture does indeed have a negative influence on the way the police work as an institution or whether it merely ensures that a certain level of consistency in achieved in terms of the way officers conduct themselves in their daily working environment. The term police culture has in itself been a topic of some discussion with sociologists being divided over what the definition should and should not include as there isnt an established, concrete definition of the concept. For example one contributor who has attempted to rectify this problem is Reiner (1992) who describes it as the values, norms, perspectives and craft rules which inform police conduct (Reiner 1992 quoted in Loftus 2009: 3). Whereas another definition comes from Manning (1989) who defines it as accepted practices, rules, and principles of conduct that are situationally applied, and generalised rationales and beliefs (Manning 1989 quoted in Loftus 2009: 3). Although these definitions dont appear too different at first glance, there is in fact a clear distinction between the two that should and must be made mainly the fact that Manning stresses that such principles of conduct are situationally applied, which of course suggests that police culture is not always necessa rily influential to an officers conduct. Some officers can and do hold a certain level of professionalism when taking to the streets and any values which may corrupt such professionalism remains behind closed doors in the company of their colleagues only. Yet Reiners provided definition suggests that the police culture remains with the police officer when they take to the streets and he/she then enforces the informal rules which have been established with their fellow colleagues, which generalises that all police officers act in accordance to the police culture . However what must be taken from both definitions is that there is reason to suggest that there is a network of a shared set of norms and values within police forces which could potentially have an effect on how they operate in a working environment. What also must be stressed is that there is also a distinction between the terms police culture or cop culture (as its otherwise known) and canteen culture which is another concept which crops up time and time again in countless criminology texts. Canteen culture, as mentioned by Waddington (1999), is understood to be the norms and values held by police officers whilst off-duty, whereas police culture is the norms and values which are expressed during the course of their occupational lives (Waddington 1999 cited by Crank 2004: 16-17) Newburn (2007) also makes this a key point by explaining that there is a common tendency to assume that what police choose to say and how they choose to act when off-duty is not only indicative of how police officers think, but also how they act in public. (Newburn 2007: 216) Yet Waddington has a problem with such assumptions, as he claims that this is not the case all of the time. The way officers act and the views they hold whilst off-duty, whether in the pub with friends or work colleagues is but a safety valve to release the pressures of the realities of life as a police officer (Waddington quoted by Newburn 2007: 618) Such an argument claims that in experiencing somewhat controversial views outside of the working sphere, a person is opened up to new perspectives which sociologists such as Waddington would argue helps to avoid them from being over-exposed to a particular ideology which could then influence the way in which they carry out their duties. But what also must be considered is just how valid Waddingtons argument actually is. Yes, of course in some instances exposure to different attitudes and values can be beneficial to an officer in terms of becoming more aware of the possibility of potential new threats, but there are also some officers who would then, due to any extreme views which they may have been subjected to, may target an individual or a group of people because of the stereotypes attached to such persons and not because of genuine suspicion. Police culture, it is claimed by Reiner (1992) has many characteristics in which it can be identified with, with suspicion being just one of them. Suspicion is an absolute necessity in the police force as it is suspicion that helps the police prevent crimes from occurring and therefore everyday working experiences encourage officers to generalise people into particular labels, whether or not this is a legitimate way to suspect possible offenders (Reiner cited by Newburn 2007: 618). Unfortunately there is a strong link between suspicion and ethnicity, with ethnic minorities suspected to engage in criminal activity more than people of white ethnic origin. The 2005/2006 Home Office statistics relating to police searches provide a great example for this. In interpreting the results of stop and search practices, 15.4% of the entire UK Black community were stopped under the Police and Criminal Evidence Act 1984 (PACE Code A) in comparison to only 1.6% of the entire white population. This d iscrimination however doesnt just end with the police; it branches out into other areas of the criminal justice system such as the prison service. Genders Player in (1989) claimed that prison officers sometimes use active stereotypes and labels to help order their working environments by predicting inmate behaviour in order to maintain authority at all times. Prisoners within the ethnic minority demographic were perceived as having a chip on their shoulder, as they felt they were being victims of racial persecution and thus the officers paid more attention to monitoring their behaviour. Arguably the most problematic characteristic of a police culture in terms of the impact it has on police and community relations is the element of racial prejudice. One of the most notable examples of racial prejudices derives within the Macpherson Report (1999), arguably the most notable report in criminology, which followed the death of black teenager Stephen Lawrence. The report found that the police were institutionally racist after discovering that police were ignoring crucial evidence to the investigation and were displaying discrimination in the interviewing process of suspects suggesting that it was black on black crime, despite Lawrences friend (an eye witness) being adamant that it was a racially motivated murder. Despite the findings of the report and the provisions set out to try and avoid the recurrence of racial controversy within the police, there is evidence to claim minority ethnic recruitment still remains low and there are still continuing problems in terms of pol ice relations with ethnic minorities (Croall 2011: 221-222). The aftermath of the Macphereson Report proved that institutional racism was still rife in police recruitment centres, as four years onwards a BBC documentary titled Secret Policeman was aired which centred on the police recruitment centre, Bruche which was located just outside of Warrington. Consequently after the footage of the documentary went public, the centre was forced to close so as to not further damage the reputation of the police. New police training systems were also introduced nationwide to try and expel racism from the police force as a result of the documentary. (The Observer 2004) How officers are socialised is of another great significance. The next characteristic of a police culture is the degree of solidarity, and it is this element which although is reinforced in numerous police forces, it is an aspect which is initially developed between candidates during the recruitment stages. Due to the intense nature of the job including the long hours which officers are required to work, the intensity of some of the work and the expectation of being the ones to prevent social decline, officers are encouraged to bond strongly and they learn to rely on one another, and as such tend to develop an us-against-them attitude. This resulting mentality, in some situations, leads to not officers making pacts with one another in which they agree not to grass on fellow officers for any discrepancies that they might have witnessed whilst on duty. This is more commonly known as The Blue Code of Silence. Just like any other subculture, in order to ensure cooperation and commitment to the Blue Code, a tribal value system is implemented which makes police culture sort of like a family structure in which members of the system will receive emotional support and security from the other officers upon requirement. Several police departments worldwide have been found to have followed the Blue Code, probably most notably was a New York police department which the Mollen Commission reported were to be covering up infringements of their officers. In such case where an officer was to break the Code, then his/her reputation and essentially his career too would be ruined as he/she would then be ostracised and labelled a whistleblower and thus it is the threat of this tarnished reputation that encourages the officer to obey the unwritten rules. (Loftus 2009: 14) Accusations of excessive force by members of the police force are far from uncommon, particularly in America. And it is the use of excessive for which Manning (1970) claims is a perfect example of police culture and how it can have a negative influence on the way officers carry out their duties. (Manning 1970 cited by Crank 2004: 107) However, excessive force is not detected in all cases. Victims of police brutality may feel that the odds are stacked against them in filing a complaint to an officers superiors and are thus reluctant to do so and may feel that even if a complaint is acknowledged and results in a court case, the judge and jury would overlook excessive force as the perceived perspective would be that the victim shouldnt have gotten his/herself in a position in which the use of force was needed in the first place and thus the consequences of their anti-social behaviour was deserved. Yet with that said, there are of course examples where the victim of police brutality are non-deserving of such treatment and thus the police force as a whole have come under criticism despite it being a minority of officers that participate in such excessive violence. For example a British police constable, PC Simon Harwood, was charged with the manslaughter of Ian Tomlinson during the G20 protests in 2009. Tomlinson was finding another route home after his usual route was blocked by the protests when he was struck by PC Harwood with a baton and then pushed to the ground Tomlinson fatally collapsed and an autopsy revealed the cause of death was a heart attack, which the actions of PC Harwood where no doubt a triggering factor. PC Harwood was acquitted of manslaughter, which only strengthens the argument mentioned previously that the courts are sympathetic to the police when the question of reasonable/excessive force is raised. However, it must be stressed that many police forces do have provisions in place to deal with any complaints of unacceptable behaviour regarding their employees in which inquiries will be carried out and, if found guilty, the officer in question may be reprimanded, suspended or permanently dismissed depending on the circumstances. Also, as in the case of PC Harwood they may also, if necessary, face criminal prosecution or at the very least face a civil hearing if the victim wishes to sue for damages caused by the officers ill-considered actions. But how are the police able to get away with these kinds of infringements? Again, it all relates back The Blue Code of Silence. As already mentioned earlier in the essay, officers of some police forces claim ignorance of any wrongdoings of their work partners and in some cases, they testily which is typically an American slang term for when an officer gives false testimony in court. Relating back to the tribal values, not participating in activities such as testilying would lead to an officer being shunned and sometimes even harassed to the point of retirement as they arent assisting their family members, in effect betraying their own kind. In 1994, the Mollen Commission found that some officers within the NYPD fabricated crucial documents such as arrest reports and warrants and some officers were found to have falsified witness statements for the purposes of manipulating the jury as they felt that an accused individual deserved it. This is particularly common in cases of bad character in which an accused has had a history of offences but has escaped punishment. Although corrupt as it is, testilying is merely seen as another way of getting the job done.   In conclusion, there is a huge interest towards police culture due to the impact it can and sometimes does have on society. if it is to have an influence on the way the police go about their work. The police hold a massively important role to society as they are a visible symbol of law and order and are granted various powers such as those which enable them to arrest members of the public who they feel prove a threat to the rest of society. Although most officers do operate in a reasonable manner, it is generally the actions of the minority which enable the public to misconceive that all officers are bigoted and aggressive. Such generalisations lead to a mass distrust of the police and tensions then begin to occur between the police and their publics. You only need to look at the summer riots of 2011 (which were reported to have been sparked by an officers seemingly unauthorised use of deadly force on a suspect) to see just how damaging poor police-community relations can be to the p olices image as a social institution.

R.F. Insurance :: essays research papers

R.F. Insurance is a commercial insurance company based on the east coast. In 1984, a group of graduate students were given a project to asses job design, career development, and job motivation in a particular district office of R.F. Insurance. The findings of this group despite the limited number of respondents permitted to take the student’s survey are more or else what can be expected given the circumstances surrounding employment at R.F. Insurance. The district office operates under the control of the district office manager who is essentially in charge of a sales team, claim adjusters, several office clerks, and one loss prevention engineer. The sales team is in charge setting up the appropriate account for the customers need and finishing the sale. Information about the customer is provided by the loss prevention engineer who meets with clients and helps to evaluate the risk of insuring a potential client. Once the sale is completed the district manager assigns the policy to one of the claims adjusters based on the complexity or importance of the policy and policy holder. From this point on till the policy is cancelled, the claims adjuster will handle ever aspect of customer service associated with the insurance policy. The rest of the paperwork, filing, and processing is handled by the clerks of the office. Each clerk has specific tasks and is responsible for filling out a daily work sheet which the lead clerk collects and c reates a weekly report on their work. When the team of graduate students began their analysis they did so under the agreement that the district office manager had control and veto power over the survey’s and interviews being used. However, upon discussing matters in more detail the district office manager further limited the students to questionnaires only. The questionnaires were to include a modification of the Job Characteristics Inventory and a 24 question survey. The district office manager instantly revoked the clerical staff from participating in the questionnaire and also vetoed six questions he did not like. He distributed the questionnaires to only 5 sales people, 4 claims adjusters, and only 3 of 8 clerks. The results of the questionnaire were as expected. The 9 higher ranking employees generally reported a more positive experience with job development, utilization, influence, and advancement then did the 3 clerks. From the data collected you can only infer that the other 5 clerks would more then likely share similar feelings.

Malaysia and the original people :: essays research papers

Malaysia and the â€Å"Original People† Neglecting aboriginal groups has been a common theme in the past when considering the advancement of developing countries. The United States had little to no regard for the Native Americans when developing a new nation. And now as Malaysia is a quickly developing country, we can see the effects of this development on its natives. Some of the world’s leading anthropologists who have been studying the â€Å"original people† of Malaysia for twenty-five years, have successfully written an in-depth explanation of the political struggle involving the Malaysian government and the Orang Asli’s. The oppression of non-represented ethnicities is the main conflict in this case study of Malaysia, entitled Malaysia and the â€Å"Original People†. The authors have produced a work that not only examines the group itself but also the past, present, and future of all social classes that reside within the countries borders. The book exceeded all expectations in the quantity as well as quality of information pertaining to the Orang Asli’s. Although there was little expression of the opinions of the actual tribes, the book was affected little due to the outstanding structure and content of the book. The strongest feature this book is its structure. The authors have created a book whose structure and word use makes it easy for most readers to comprehend. From the beginning the reader will learn that the whole motivation behind this book was to educate people of the affects of development on indigenous peoples around the world. â€Å"†¦how development and government programs in a developing country can affect indigenous peoples.† (Dentan, Endicott, Gomes, Hooker, p. ix) The reader should already know from the Forward and the Preface that the authors’ platform leans in favor of the Orang Asli. â€Å"We hope that once fair-minded people -in Malaysia and elsewhere-know about Orang Asli and their problems, they will want to help them.† (Dentan, Endicott, Gomes, Hooker, p. x) These â€Å"introduction† sections are an example of how the superb structuring of the case study. These sections are essential in the reading and comprehending the arguments made by the authors. After a broad overview of the situation and people involved, the authors start to break down the effects of development on each specific tribe in the Orang Asli. Once again we see the strength of this book, structure, as the tribes are each given its own section. This is very effective in helping the reader gradually understand the struggle each tribe has encountered.

Essay --

What truly defines someone as a man? There are many answers to the question. Unfortunately, society has warped the true concept of manhood and replaced it with many stereotypes that every man is expected to follow. As a result, the idea of manhood is nothing more than a collection of stereotypes. This warped concept was no different during the Jacobean era. The manly hero in many pieces of literature mostly shared the same traits, and was always revered for it. However, Shakespearean plays were an exception. This is especially true in the tragedy Macbeth, by William Shakespeare. The concept of Manhood is explored in Macbeth, but more importantly, its validity is explored and questioned. In Macbeth, Shakespeare challenges the stereotypical concepts of manhood through the use characterization and contrast between the characters throughout the play. Lady Macbeth represents all the stereotypical qualities of manhood, such as unrelenting determination, cruelty, and lack of emotions. Her interpretation of masculinity is made clear from the very first scene she appears in. When Lady Macbeth realizes that she must kill Duncan in her own home, she states, "Come, you spirits/ That tend on mortal thoughts, unsex me here" (I. iv. 43-44). Her request shows that she believes a woman is not capable of such cruel and evil acts, and that only a man is. Furthermore, she wants to be filled up from the "crown to the toe, top-full/ Of direst cruelty!" with the "access and passage to remorse", completely blocked off, implying that a man is without remorse and feelings, and full of cruelty (I. iv. 45-47). Lady Macbeth then imposes her idea of Manhood on Macbeth. When Macbeth decides not to kill Duncan, Lady Macbeth quickly challenges his manliness by c... ...ction to the murder of his family. Macduff represents what true manhood is, a man that has emotions and feelings. When Macduff receives news of the murder of his family, he immediately starts to cry and grieve. Malcolm tells Macduff to "Dispute it like man", telling Macduff to stop crying and to act like a man (IV. iii. 256). Macduff responds with, "I shall do so;/ But I must also feel it as a man:" (IV. iii. 257-259). Macduff responds that he will deal with it like man; however, he will deal with it with emotions and feelings, as well as by taking action. Macduff's statement, in contrast to Macbeth and Lady Macbeth, implies that it is okay for a man to have feelings and emotions, and that Manhood is more than just violence and action. Furthermore, unlike Macbeth, whose idea of masculinity causes serious character flaws, Macduff's idea actually helps him achieve his

Starbucks Corporation & Tully’s Coffee Corporation

Starbucks Corporation & Tully’s Coffee Corporation MBA 522: Financial Management December 9, 2008 Tully’s Coffee Corporation Established in 1992, Tully’s Coffee Corporation is a Seattle based coffee retailer and wholesaler. The main products offered by the company are baked food items, coffee products and pastries. Additionally, their coffee beans have exceptional sales in regional supermarket and grocery stores. The company currently operates over 100 stores in the western region of the United States and they have embarked upon a business venture in Japan where Tully’s is creating quite a coffee presence, they are also investigating expansions into other foreign markets. The Corporation started generating profits in the year 2006 (About Tully’s, 2007). Starbucks Corporation Seattle-based Starbucks Corporation is the leading coffeehouse chain in the world. The company currently has operations in more than 44 countries. The main products offered by Starbucks include a wide variety of beverages, coffee beans and brewing equipment, and a wide assortment of snacks and sandwiches. The company also branched into marketing music and books (The Company, 2008). Ratio Analysis RatiosStarbucksTully's Coffee Current Ratio0. 790. 51 Quick Ratio0. 300. 30 Debt Equity Ratio1. 345. 22 Proprietary Ratio0. 430. 24 Solvency Ratio0. 571. 24 Inventory Turnover Ratio12. 1311. 27 Gross Profit Ratio (%)23. 3444. 96 Net Profit Ratio7. 1515. 76 Return on Proprietors' Funds29. 45- Earning Per Share0. 910. 004 Current Ratio Current ratio may be defined as the relationship between current assets and current liabilities. It is also known as the working capital ratio (2: 1 ratio). It is calculated by dividing current assets by current liabilities. Current assets of a firm represent those assets which can be, in the ordinary course of business, converted into cash within a period not exceeding one year. Current liabilities are those obligations which are to be paid within a period of one year of current assets or by creation of current liabilities (Van Horne, Wachowicz & Bhaduri, 2005). Current ratio of the Starbucks Corporation and Tully’s Coffee Corporation is . 79 and . 51 respectively, during the year 2007. There is a difference in the current ratio of both companies, reflecting the weak liquidity position of both companies – and it illustrates that neither company has short term solvency. Liquidity position can be improved to some extent and can be made equivalent to industry average. The industry average of current ratio is . 90: 1. The current ratio of Tully’s is unsatisfactory and reflects weak position of the company. Quick Ratio This ratio is also helpful in analyzing the short term financial position of a business. Quick ratio is the measure of the instant debt paying ability of the business enterprise, hence, it is called quick ratio (Van Horne, Wachowicz & Bhaduri, 2005). A quick ratio of 1:1 is considered as an ideal ratio. If the liquid ratio is more than 1:1, the financial position of the firm is deemed to be sound. On the other hand, if the ratio is less than 1:1 the financial position of the firm is unsound. Quick ratio of Starbucks is . 30:1 and Tully’s ratio is . 30:1. There is no difference between the quick ratios of Starbucks & Tully’s Coffee. Overall, the short term liquidity position of both firms is quite poor because the ratios are less than the desired norm. For instance, current ratio should be 2:1 whereas, it is less than 1:1. Similarly, the liquidity ratio is much less than 1 as compared to ideal standard of 1:1. Therefore, the companies will face difficulties in paying current obligations on maturity. Debt Equity Ratio This ratio indicates the relative proportion of debt and equity in financing the assets of a firm. Debt Equity ratio reflects the relative claims of creditors and shareholders against the assets of a firm. The industry average of ratio is . 42:1. Debt equity ratio of Tully’s is 5. 22:1. This figure is not at all satisfactory; the ratio of 1:1 is considered within norms and reasonable. The Starbucks ratio is 1. 34:1, which is quite reasonable. A high debt equity ratio has serious implications from the firm’s point of view. A high proportion of debt in the capital structure leads to the inflexibility in operations of the firm as creditors would exercise pressure and interfere in management. Tully’s has high debt-equity ratio which is unfavorable for the company. Proprietary Ratio Proprietary ratio establishes a relationship between proprietors or shareholder’s funds and total assets of the business. This ratio highlights the general financial strength of the firm. It is of great importance to creditors since it enables them to find out the proportion of shareholder’s funds in the total assets used in the business. The ratio of Starbucks is . 43:1 and for Tully’s it is . 24:1. The proprietary ratio is low for both companies. Although there is little difference in performance of both corporations, it is Starbucks that is in better position. Solvency Ratio This ratio measures the long term solvency of the business. It reveals the relationship between total assets and total external liabilities. This ratio measures the proportion of total assets provided by the creditors of the firm, i. e. what part of assets is being financed from loans (Van Horne, Wachowicz & Bhaduri, 2005). The total assets of Starbucks are more than their total liabilities, which indicates that the company is solvent. Tully’s liabilities are more than their total assets, reflecting that the firm is not solvent. In this instance the higher the ratio, the greater the amount of creditors that are being used to generate profit for the owners of the firm. The difference in both the companies’ ratio is very high, although Starbucks has better performance than Tully’s in terms of solvency. Inventory Turnover Ratio The ratio indicates the number of times inventory is replaced during the year. It measures the relationship between the cost of goods sold and the inventory level. The inventory turnover ratio measures how quickly inventory is sold (Van Horne, Wachowicz & Bhaduri, 2005). The inventory turnover ratio of Starbucks is 12 times while Tully’s ratio is 11 times. Starbucks and Tully’s both have similar ratios, below that of the industry average. Thus, both corporations have inefficient inventory management. Generally speaking, a high inventory turnover ratio is better than a low ratio. A high ratio implies good inventory management. A very low level of inventory has serious implications, as it adversely affects the ability to meet customer demand. Gross Profit Ratio The ratio expresses the relationship of gross profit on sales to net sales in terms of percentage (Van Horne, Wachowicz & Bhaduri, 2005). Goss profit is the result of the relationship between prices, sales volume and costs. Gross profit margin of Starbucks Corporation is 23%, whereas the ratio for Tully’s is 45%. Tully’s ratio is high as compared to Starbucks, which is a sign of good management. It implies that the cost of production for the firm is relatively low. Tully’s has reasonable gross margin which ensures adequate coverage for operating expenses and sufficient return to the owners of the business, which is reflected in the net profit margin. Net profit Ratio This measures the relationship between net profits and sales of a firm. The net profit margin is indicative of management’s ability to operate the business with sufficient success not only to recover revenues of the period, the cost of merchandise or services, the expenses of operating the business and the cost of the borrowed funds, but also leave a margin of reasonable compensation to the owners for providing their capital at risk (Van Horne, Wachowicz & Bhaduri, 2005). Net profit ratio of Tully’s Coffee and Starbucks is -15. 67% and 7. 15%, respectively. Starbucks Corporation is generating adequate returns for its owners. On the other hand, Tully’s net profit margin is negative. The company is suffering from huge losses and has incurred net losses in the year 2007. Overall efficiency and profitability of Starbucks is higher than Tully’s Coffee. Return on Proprietary Funds The ratio expresses the percentage relationship between net profit and proprietors funds or shareholder’s investment (Van Horne, Wachowicz & Bhaduri, 2005). It is used to ascertain the earning power of shareholders investment. Return on proprietors’ fund for Starbucks is 29. 5%. The ratio could not be calculated for Tully’s Coffee as net profit and shareholder’s funds, both are negative. Starbucks has better performance and a higher return than Tully’s Coffee. Earning Per Share The rate of dividend on shares depends upon the amount of profits earned by the firm. Whatever profit remains, after meeting all expenses and paying preference share dividend, belongs to equity shareholders (Van Horne, Wachowicz & Bhaduri, 2005). These are the profits earned on equity share capital. The earning per share is calculated by dividing the profit available to equity shareholders by the number of shares issued. This is a popular ratio as it measures the profitability of a firm from the owner’s standpoint. Starbucks EPS is higher than Tully’s, which shows that the market price of the firm would be greater. Earning per share of Tully’s Coffee has no value, it is almost negligible. Higher EPS helps the company to raise additional capital without difficulty. This ratio plays an important role in comparison of the two companies from an investment point of view. Investment Decision It would be my choice to invest in Starbucks Corporation, as the overall performance and productivity is higher. The liquidity analysis performed through current ratio and quick ratio reveals that the Starbucks is positioned better in terms of liquidity; the company also has superior position in term of long-term solvency. Though gross profit ratio of Tully’s Coffee is high, overall Starbucks has a favorable financial position in that they would be able to quickly convert various assets into cash. Starbucks Corporation is generating adequate returns and reasonable profits which are sufficient for effectively running their operations. The corporation is generating higher returns for their shareholders, illustrating that the resources are effectively utilized. EPS is very high at Starbucks, which is necessary for the investment. Thus, I feel that an investment in Starbucks Corporation is a better choice, as it would yield higher returns for this investor. References About Tully’s. (2007). Retrieved November 21, 2008, from http://www. tullys. com/company/ Starbucks Corp: Financial Statement. (2008). MSN Money. Retrieved November 21, 2008, from http://moneycentral. msn. com/investor/invsub/results/statemnt. aspx? Symbol=SBUX&lstStatement=Balance&stmtView=Ann The Company. (2008). Retrieved November 21, 2008, from http://www. starbucks. com/aboutus/overview. asp Tully's Coffee Corporation. (2008, November). Hoovers. Retrieved November 21, 2008, from http://www. hoovers. com/free/co/secdoc. xhtml? ID=58100=6157151-141335-231989 Van Horne, J. C. , Wachowicz, J. M. , & Bhaduri, S. N. (2005). Fundamentals of Financial Management (12th Ed. ). (pp. 130-133). United Kingdom: Pearson Education

Stress and how to reduce it

Nowadays, more and more people are concerned about dealing with stress effectively. Stress is defined as a state of mental tension and worry caused by problems in your life or work. Stress is also a normal physical response to events that make you feel threatened or upset your balance in some way. Stress can come from any situation or thought that makes you feel frustrated, angry, nervous, or anxious. What makes people stress? There are many common causes of stress, such as major life changes, Jobless, relationship difficulties, financial problems,†¦ c. In my opinion, stress is caused by the follwing reasons. Firstly, as we know that modern life is full of deadlines, and demands so you usually try to obtain everything. For example, in order to reach a higher position in career or to earn more and more money, you pay more hours in a day and more days in a week for work. The above demands and targets make you feel pressured. Secondly, life of modern people, especially life of thos e who live in big cities is built by a large number of plans and schedules.It is ery well if everything happens smoothly. But in fact, your arranged plans or schedules do not happen as what you expect. Therefore, you may immediatly fall into the status of stress. There are many ways to reduce stress. It depends on the manner that you choose. Firstly, let's start a new day in full of energy by a meditation exercise. Research suggests that daily meditation may alter the brain's neural pathways, making you more resilient to stress. A few minutes of practice per day can help ease anxiety. Secondly, let breathe deeply.Give yourself 5 – minute break from whatever is bothering you and focus instead on your breathing . Thirdly, pause thinking about work in a few minutes, sit down and have breakfast with your tiny family or your collegues. Talking some funny stories to others is the great way to reduce stress. Finally, let you be in present. You rush through dinner, hurry to your next appointment, race to finish one more thing on your agenda. Now try something different: Slow down. Take 5 minutes and focus on only one behavior with awareness.Notice how the air feels on your face when you're walking and how your fit feels hitting the ground. Enjoy the texture and taste of each bite of food as you slowly chew. When you spend time in the moment and focus on your senses, step by step, you can feel the tension leave your body. Totally speaking, stress is not good for our life. the method of reducing stress is various. You should choose the ways which is suitable with you and make you feel leisured. Stress and how to reduce it.

Opportunity and Threat of Cadbury

Opportunity First of all , Cadbury should increase in market potential of developing counties. Especially expand into the emerging markets of Nigeria ,China and Russia, based on their growing populations, increasing consumer wealth and increasing demand for confectionery products. So that It would be a potential market for Cadbury. Moreover , based on their strong brand name , Cadbury can try doing different types of businesses like innovatively doing Co-Brand Marketing with other brand industries . Ingredient branding in food industries for example published chocolate milk ,ice cream even chocolate tofu pudding. Also doing complementary branding like published T-shirt and accessories . Besides the market , Cadbury should responds to change in consumer tastes and preferences because consumers are more concern health nowadays , low-fat, organic and natural confectionery demand appears much stronger . So that a healthier snacks with lower calories need to be developed. For example Cadbury should launch some links which led to sugar-free & center filled chewing gum varieties and Cadbury premium indulgence treat. Last but not least , Cadbury can put more effort on reducing costs even increasing efficiency . For instance , Moving production to low cost countries, where raw materials and lab our is cheaper besides India . Because Cadbury ‘s production lines are mostly located in high cost countries like Australia and US . And also reducing internal costs like doing global sourcing , procurement , efficient supply chain and wise investment . Threat First of all , Cadbury will face the intense competition against other branded suppliers even global competitors . According to above statistic , Mars-Wrigley and Nestle are the main competitors especially Mars-Wrigley the strongest market sharing in total confectionery . When they set an aggressive price and promotion activity , it ‘s possible to occur price wars in the market which will induce a main threat for Cadbury. Especially affecting their marketing sharing and profits . For example there would be seasonal sales slumps all year round which will reflect to an increase in cost of raw material needs . Second one is â€Å"Copycat† problem. Especially when Cadbury expand into developing countries like China, based on their unhealthy legal system , it ‘s easy to appear â€Å" Copycat† problem which will totally affect their profits , market sharing and their unique images . For example Tempo Tissues is the mainâ€Å" Copycat† problem sufferer when entering in China market . Many fakes products have approached in the market. Last but not least , due to its confectionary products , It ‘s important for them to be aware of upcoming threats . For example taking notes of the changes in the consumers ‘ buying trends . For example low-fat, organic and natural confectionery demand appears much stronger . So that they should shift from chocolates to healthy snacks , otherwise there may be tarnish the Cadbury ‘s brand name and totally affect their income .

Example: Economics

Importance Of Economics Everyone is a part of economy and everyone uses the rules of economy too. From the time we are born, we become consumers of various products and services (say, medical services, baby foods, and so on). We grow and diversify to attain various different roles as producers, traders, mediators and agents. Today’s world is that of â€Å"economic imperialism†, where economical factors, most importantly, money dictates all the elements of the society, not to forget close family relations. With recession wreaking havoc, economics is something which even ignorant households are learning.Economics is a science which deals with production, distribution and consumption of goods and services. Therefore, we can conclude that whatever involves â€Å"transfer of money† includes â€Å"economics†. There are two schools of economics, namely, microeconomics and macroeconomics. The combined results of these two determine the actual effect of economics o n people. To list all the important functions of economics would be literary impossible as newer issues keep creeping up. In the following lines, we have described some broad and basic functions of economics. Significance Of Economics Optimizes Resource UsageIn today’s world, the amount of resources available to us is reducing each day. This condition will only worsen, if we keep using our resources with low efficiency and effectiveness. Economics provides a mechanism for looking at possible ways to optimize resource utilization and reduce wastages. Utilizes the â€Å"Opportunity Cost† This is another principle used for resources in which the scarce resources are utilized efficiently, after calculating and checking the opportunity cost. A simple theory of exclusion is put into play. If you choose something over another thing, then what loss you sustain is the opportunity  cost.If we minimize the opportunity cost, we get maximum profits. For example, a person who inve sts $10,000 in a stock denies himself the interest that could have been accrued, by leaving the $10,000 in the bank account instead. The opportunity cost of the decision to invest in stock, is the value of the interest. When this principle is used in budget allocations by government, it results in better growth rates. Gains Social Efficiency If a society keeps on putting money into its economy with no profits or loss, then the economy becomes inefficient and so does the society, as it gets dependent on the economy.If the input into an economy is larger than the output, then the society starts disintegrating and falls prey to destructive social evils, like unemployment and poverty. The same is the case if the economy is stagnant. Understanding of economics leads to better planned economy. Also, profitable economic steps introduced largely aid in the society’s overall prosperity. Stabilizes The Overall Economy The stability of an economy is inevitable to any country or society. Only through economically sound practices can we ensure that the economy is stable and growing at the same time.In recent times, when the world’s economy fell, only a few countries were able to sustain their growth rate and prevent severe monetary impacts on their citizens. Understands Individual Economics This is important for the growth of individuals economically. A person needs to understand the economic situations and stipulations present in his own life. He may not need the hardcore subjective understanding of economics, but he definitely needs to understand the economic practices that he must follow to eradicate chances of going broke or bankrupt.Also, understanding of economics helps in using the resources in the best possible way and gaining maximum profit. What is Economics? A Definition of Economics Ever wonder why food costs rise when gas prices spike? Ever question why U. S. politicians worry when other countries talk of going bankrupt? Ever wonder why you canâ €™t get a good interest rate on your savings account? All of these phenomena can be explained through economics. Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods.Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways. There are two main types of economics:  macroeconomics  andmicroeconomics. Microeconomicsfocuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders. Macroeconomics, on the other hand, takes a much broader view by analyzing the economic activity of an entire country or the international marketplace.A study of economics can describe all aspects of a country’s economy, such as how a country uses its resources, how much time laborers dev ote to work and leisure, the outcome of investing in industries or financial products, the effect of taxes on a population, and why businesses succeed or fail. People who study economics are called economists. Economists seek to answer important questions about how people, industries, and countries can maximize their productivity, create wealth, and maintain financial stability.Because the study of economics encompasses many factors that interact in complex ways, economists have different theories as to how people and governments should behave within markets. Adam Smith, known as the Father of Economics, established the first modern economic theory, called the Classical School, in 1776. Smith believed that people who acted in their own self-interest produced goods and wealth that benefited all of society. He believed that governments should not restrict or interfere in markets because they could regulate themselves and, thereby, produce wealth at maximum efficiency.Classical theory forms the basis of capitalism and is still prominent today. A second theory known as Marxism states that capitalism will eventually fail because factory owners and CEOs exploit labor to generate wealth for themselves. Karl Marx, the theory’s namesake, believed that such exploitation leads to social unrest and class conflict. To ensure social and economic stability, he theorized, laborers should own and control the means of production. While Marxism has been widely rejected in capitalistic societies, its description of capitalism’s flaws remains relevant.A more recent economic theory, the Keynesian School, describes how governments can act within capitalistic economies to promote economic stability. It calls for reduced taxes and increased government spending when the economy becomes stagnant, and increased taxes and reduced spending when the economy becomes overly active. This theory strongly influences U. S. economic policy today. As one can see, economics shapes the world. Through economics, people and countries become wealthy. Because buying and selling are activities vital to survival and success, studying economics can help one understand human thought and behavior.Branches of Economics Economics has two branches: microeconomics and macroeconomics. Microeconomics  is the branch of economics that deals with the personal decisions of consumers and entrepreneurs. Its primary concern is to help consumers and investors make their lives better by increasing their earnings and satisfying their needs despite limited resources. Also included in its study are the consumers' decisions on what products to buy and how the cost of commodities is determined. Macroeconomics  deals with the larger aspects of a nation's economy, such as the sectors of agriculture, industry, and service.It aims to (a) speed up the economy's growth rate and increase total production; (b) increase the rate of employment; (c) keep the prices of commodities stable so that they remain affordable; and (d) have sufficient reserves for foreign exchange for importing goods and paying off loans. Economists help in solving problems like unfair wages, rapid population growth, people migration to city centers, high crime incidence, and loss of human resources due to overseas migration. Economic Methodology What is the difference between positive and normative economics?Positive economics  is objective and fact based, while  normative economics  is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. Normative economic statements are opinion based, so they cannot be proved or disproved. While this distinction seems simple, it is not always easy to differentiate between the positive and the normative. Many widely-accepted statements that people hold as fact are actually value based.For example, the statement, â€Å"government should provide basic healthcare to all citi zens† is a normative economic statement. There is no way to prove whether government â€Å"should† provide healthcare; this statement is based on opinions about the role of government in individuals' lives, the importance of healthcare and who should pay for it. The statement, â€Å"government-provided healthcare increases public expenditures† is a positive economic statement, because it can be proved or disproved by examining healthcare spending data in countries like  Canada  and  Britain  where the government provides healthcare.Disagreements over public policies typically revolve around normative economic statements, and the disagreements persist because neither side can prove that it is correct or that its opponent is incorrect. A clear understanding of the difference between positive and normative economics should lead to better policy making, if policies are made based on facts (positive economics), not opinions (normative economics). Nonetheless, numerous policies on issues ranging from international trade to  welfare  are at least partially based on normative economics.Deduction in Economics Deductive economics starts with a set of axioms about economies and how they work, and relies on these principles to explain individual cases or events. Supply and demand analysis, a staple in any introductory economics course, is an example of deductive reasoning because it involves a set of generally accepted principles about demand and supply. To summarize, deduction in economics starts with a generally accepted principle and proceeds to the specific. Induction in EconomicsInductive reasoning in economics does the reverse of deductive reasoning; namely, it begins with an individual problem or question and proceeds to form a general principle based on the evidence observed in the real world of economic activity. For example, an economist who asks if a government program of public works spending will stimulate a region's economy wi ll proceed to research the issue, collect and analyze data, and based on conclusions, form a general theory about the economic impact of fiscal policies. Classification of economic resources? here are two types of economic resources: a. Property resources b. human resources Human resources  is the set of individuals who make up the  workforce  of an  organization,  business sector  or an  economy. â€Å"Human capital† is sometimes used synonymously with human resources, although human capital typically refers to a more narrow view; i. e. , the knowledge the individuals embody and can contribute to an organization. Likewise, other terms sometimes used include â€Å"manpower†, â€Å"talent†, â€Å"labour†/†labor† or simply â€Å"people†. The Four Factors of Production in EconomicsLand Land refers to the natural resources that are available and used in the production of goods. For example, a heavy mining industry could not ex ist without the natural deposits of valuable minerals in the ground, while a thriving farming community would have a hard time surviving with poor soil and no rainfall. Labor Labor refers to the human inputs of work to produce the goods and services. For example, the training required for employees to successfully operate machines to produce cars would be considered as part of labor.In addition, the mental capacity to perform tasks and invent new products is also part of labor. The only human element not included in labor is entrepreneurship. Capital Capital refers to the tools and machines that are required for the production of the product. For example, when making cars, the capital would include the factory and all the machinery in the factory used in making the car. On a farm, the capital would include the tractors, harvesters and other equipment used to grow crops or raise livestock. EntrepreneurshipEntrepreneurship refers to the economic motivation for an individual to attempt to make a profit from an idea. For example, people may know how to build cars, machines may be available and the land for the factories for sale, but it takes an entrepreneur to put those factors together in an attempt to make a profit. Entrepreneurs put their own resources at stake by personally investing in the company. For example, a business owner is not paid an hourly wage like the people who work for her. Instead, her income depends on the success or failure of the business venture. production possibility curveA graphical  representation  of the alternative  combinations  of the  amounts  of two  goods  or  services  that an  economy  can  produce  by transferring  resources  from one  good  or  service  to the other. This  curve  helps in determining what  quantity  of a nonessential good or a service an economy can  afford  to produce without jeopardizing the  required  production  of an  essential good  or servi ce. Also calledtransformation curve. What are the three basic economic problems? the basic economic problem is the unlimited wants and needs of human which results to scarcity of resources. what are the needs? the needs are the things we must posses in order to survive like food,water, clothing,shelter. while the wants are those things that human would like to have in order to improve there status in life. we limited resources that'a why encounter this problem. the economic resources like land, labor,and capital which are the factors if production are insufficient to satisfy our needs and wants. All 3 problems are more clearly explained using a ppf/ppc: 1) What to produce: This problem is what should the  economy  produce in order to satisfy consumer wants (as seen by demand curves) as best as possible using the limited resources available.If a country produces goods in a way that maximises  consumer satisfaction  then the economy is allocatively efficient. 2) How to produce : This problem is how to combine production inputs to produce the goods decided in problem 1 as most efficiently as possible. An  economy  achieves productive efficiency if it produces goods using the least resources possible. A productively effiecient economy is represented by an economy that is able to produce a combination of goods on the actual curve of the PPF. 3) For whom to produce: Should the economy produce goods targetted towards those who have high incomes or those who have low incomes.What sort of demographic group should the goods in the economy that are produced be targetted towards? If the economy is addresses this problem then it has reached preto efficiency or pareto optimality. If all three problems are addressed at any one time then the economy has achieved static efficiency. If the economy achieves static efficiency over a period of time then it is dynamically efficient. All these problems are focused around the problem of unlimited wants and limited resource s. Where resources are the fators of production (such as labor, capital, technology, land.. ) which are used to produce the products that satisy the wants. conomic system An  organized  way in which a state or  nation  allocates  its  resources  and  apportions  goods and services  in the national  community. Types of Economic Systems â€Å"You can't always get what you want. † That's what the Rolling Stones sang, anyway (check it out: great song even if it's a bit before your time). And while Mick Jagger probably didn't have Econ 101 in mind, he managed to sum up perfectly the core concept underlying all economics. Scarcity  is the fundamental challenge confronting all individuals and nations. We all face limitations†¦ so we all have to make choices.We can't always get what we want. How we deal with these limitations—that is, how we prioritize and allocate our limited income, time, and resources—is the basic economic challenge that has confronted individuals and nations throughout history. But not every nation has addressed this challenge in the same way. Societies have developed different broad economic approaches to manage their resources. Economists generally recognize four basic types of economic systems—traditional, command, market, and mixed—but they don’t completely agree on the question of which system best addresses the challenge of scarcity.A  traditional economic system  is—here's a shocker—shaped by tradition. The work that people do, the goods and services they provide, how they use and exchange resources†¦ all tend to follow long-established patterns. These economic systems are not very dynamic—things don’t change very much. Standards of living are static; individuals don’t enjoy much financial or occupational mobility. But economic behaviors and relationships are predictable. You know what you are supposed to do, who you trade with , and what to expect from others. In many traditional economies, community interests take precedence over the individual.Individuals may be expected to combine their efforts and share equally in the proceeds of their labor. In other traditional economies, some sort of private property is respected, but it is restrained by a strong set of obligations that individuals owe to their community. Today you can find traditional economic systems at work among Australian aborigines and some isolated tribes in the Amazon. In the past, they could be found everywhere—in the feudal agrarian villages of medieval Europe, for example. In a  command economic system  or  planned economy, the government controls the economy.The state decides how to use and distribute resources. The government regulates prices and wages; it may even determine what sorts of work individuals do. Socialism  is a type of command economic system. Historically, the government has assumed varying degrees of cont rol over the economy in socialist countries. In some, only major industries have been subjected to government management; in others, the government has exercised far more extensive control over the economy. The classic (failed) example of a command economy was the communist Soviet Union. The collapse of the communist bloc in the late 1980s led to the emise of many command economies around the world; Cuba continues to hold on to its planned economy even today. In  market economies, economic decisions are made by individuals. The unfettered interaction of individuals and companies in the marketplace determines how resources are allocated and goods are distributed. Individuals choose how to invest their personal resources—what training to pursue, what jobs to take, what goods or services to produce. And individuals decide what to consume. Within a  pure market economy  the government is entirely absent from economic affairs.The United States in the late nineteenth century, at the height of the lassez-faire era, was about as close as we've seen to a pure market economy in modern practice. A  mixed economic system  combines elements of the market and command economy. Many economic decisions are made in the market by individuals. But the government also plays a role in the allocation and distribution of resources. The United States today, like most advanced nations, is a mixed economy. The eternal question for mixed economies is just what the right mix between the public and private sectors of the economy should be. Why It Matters TodayHalf of the twentieth century went down as a global battle between defenders of free markets (democratic capitalist nations, led by the United States) and believers in command economies (the communist bloc, led by the Soviet Union). The US and USSR never went to war against each other directly, but dozens of smaller (yet still tragic and significant) wars unfolded around the world as bitter fights over economic system s turned bloody. Korea, Vietnam, Nicaragua, Afghanistan, Angola†¦ millions of people died in the various â€Å"hot† theaters of a Cold War fought to decide whether markets or states should control economic affairs.The great irony was that the Cold War finally ended not on a battlefield, but because the Soviet economy finally self-destructed by the late 1980s. For most of the world, the Soviet collapse proved that command economies were simply inferior to the market-dominated mixed economies of the capitalist world. Of course, China – still ruled politically by an authoritarian Communist Party, even though its economy is now more mixed if not exactly free – is now the biggest creditor nation to the United States. What are six major economic goals of a market economy? Freedom, efficiency, equality, stability, security, growth.The 6 Economic Goals Objectives: – Summarize the basic economic goals societies share 6 Economic Goals – Economic Efficie ncy – Making the most of resources – Societies must be efficient – Economic Freedom – Freedom from govt intervention in the production & distribution of G & S – Economic Security and Predictability – We want to know that G & S will be available (Paychecks too) – Safety Net- – govt programs that protect ppl experiencing unfavorable economic conditions 6 Economic Goals Cont. – Economic Equity – Fair distribution of wealth – Economic Growth and Innovation Innovation leads to growth, and economic growth leads to a higher standard living – Standard of Living- – level of economic prosperity – Other Goals – Environmental Protection, Consumer Safety Millennium Development Goals â€Å"MDG† redirects here. For other uses, see  MDG (disambiguation). The Millennium Development Goals are aUN  initiative. The  Millennium Development Goals  (MDGs) are eight  international devel opment  goals  that were officially established following theMillennium Summit  of the  United Nations  in 2000, following the adoption of the  United Nations Millennium Declaration.All 193 United Nations  member states  and at least 23  international organizations  have agreed to achieve these goals by the year 2015. The goals are: Eradicating  extreme poverty and hunger, Achieving  universal primary education, Promoting  gender equality  and  empowering  women, Reducing  child mortality  rates, Improving  maternal health, Combating  HIV/AIDS,  malaria, and other diseases, Ensuring environmental  sustainability, and Developing a global partnership for development. [1]Each of the goals has specific stated targets and dates for achieving those targets. To accelerate progress, the  G8  Finance Ministers agreed in June 2005 to provide enough funds to the  World Bank, the  International Monetary Fund  (IMF), and the  African Develo pment Bank  (AfDB) to cancel an additional $40 to $55  billion in debt owed by members of theHeavily Indebted Poor Countries  (HIPC) to allow impoverished countries to rechannel the resources saved from the forgiven debt to social programs for improving health and education and for alleviating poverty.Debate has surrounded adoption of the MDGs, focusing on lack of analysis and justification behind the chosen objectives, the difficulty or lack of measurements for some of the goals, and uneven progress towards reaching the goals, among other criticisms. Although developed countries' aid for achieving the MDGs has been rising over recent years, more than half the aid is towards debt relief owed by poor countries, with much of the remaining aid money going towards natural disaster relief and military aid which do not further development.Progress towards reaching the goals has been uneven. Some countries have achieved many of the goals, while others are not on track to realize any. A UN conference in September 2010 reviewed progress to date and concluded with the adoption of a global action plan to achieve the eight anti-poverty goals by their 2015 target date.There were also new commitments on women's and children's health, and new initiatives in the worldwide battle against poverty, hunger, and disease. Government organizations assist in achieving those goals, among them are the United Nations Millennium Campaign, the Millennium Promise Alliance, Inc. , the Global Poverty Project, the  Micah Challenge, The Youth in Action EU Programme, â€Å"Cartoons in Action† video project, and the 8 Visions of Hope global art project.