The theory of supply and demand Essay Example | Topics and Well Written Essays - 750 words

The theory of supply and demand - Essay Example The theory of supply and demand Supply and demand are two of the most critical concepts in the study of economics, especially in microeconomics where it determines market prices. The law of supply and demand concludes that in the event of an increase in demand while supply stays unchanged, then a shortage will ensue resulting in a higher equilibrium price. On the other hand, the law argues that if demand decreases while supply stays unchanged, a surplus will occur, causing the equilibrium price to fall. However, if demand stays unchanged and supply increases, a surplus will ensue, causing a lower equilibrium price. The last law of supply and demand concludes that if demand remains the same and supply reduces, a shortage will be experienced within the market, resulting in a greater equilibrium price. The earliest records of considerations of the concepts of supply and demand started in the 14th century. 14th century Muslim, Mamluk scholar, Ibn Taymiyyah suggested that if the need for goods within the market increase s while its availability reduces the price of the goods will increase. He also suggested that if the availability of the commodity increases and the need for it diminishes, its prices will come down. . In 1691, John Locke’s work â€Å"Some Considerations on the Consequences of the Lowering of Interest and the Raising of the Value of Money† consists of an early and succinct description of supply and demand, as well as their inherent relationship.... cs subsequently used the term in his 1776 book in which he presumed that the supply price was inflexible, but its value would eventually diminish as its scarcity increased (Krugman and Wells 89). In effect, Smith was speaking to the law of demand. In his work, Principles of Political Economy and Taxation, Ricardo rigorously laid down the notion of the assumptions, which were utilized in order to develop his ideas of supply and demand. In the 19th century, the marginalist school of thought was established, and its key idea was that prices are determined by the most expensive price or the price at the margin. This was a massive change from Smith’s thoughts concerning the determination of supply price through the forces of demand and supply. The model of supply and demand encompasses the supply and demand schedules. A supply schedule is a table, which quantifies the relationship between the price of a product and the quantity supplied. A supply curve shows the link between the pr ice of the product and quantity supplied. Through the assumption of perfect competition, marginal costs determine supply. This means that firms will produce additional products when the production cost of an extra output is less than the price expected. Inherently, supply is determined by production costs, the number of suppliers within the market and the firm’s expectations regarding future prices (Krugman and Wells 247). On the other hand, a demand curve is the graphical depiction of a demand agenda and represents the quantity of goods buyers are both capable and willing to buy at certain prices. The law of demand requires that the demand curve must always be represented as downward-sloping, which means that consumers will by extra goods as prices diminish. Demand curves are also determined

Leadership styles, behaviors and relevant situational factors. Maple Assignment

Leadership styles, behaviors and relevant situational factors. Maple Leaf Food - Assignment Example Maple Leaf Foods (stock market symbol TSX:MFI) is one of Canada’s major food processing companies. As its chief executive officer, McCain holds the strings that control the subordinates. With the strings, Michael McCain can instruct the employees to give their best to produce high quality products to the company’s current and prospective clients. Michael McCain is new in the company. Formerly, Michael McCain was one of the owners of the very popular McCain food products company, which is located in the heart of Canada. Consequently, Michael McCain brings with him many years of experience as one of the managers of his former family-owned company. His former company is also engage in the food processing business. 2. Description of leader’s context (main constituents and the various situation forces at play) Michael McCain heads the company that sells food products to the Canadian public. The company’s original name is Canada Packers. It was Canada’s producer of the biggest volume of food products. The company’s major food product is grounded on hogs. The company ships hog-based products to the United Kingdom. The company also sells cheese products. The company ventures into hog and poultry based food business products. Robert Kelley (1988) 2insists that all corporations sometimes succeed or fail, compete or crumble, on the basis of how they are being management, in the case of McCain, the subordinates can sit back, relax, and enjoy the leadership of McCain as he steers the Maple Leaf Management outside the August 2008 food poisoning crisis smoothly and effortlessly. In 2008, the company ordered the recall of many of its tainted products. The tainted products came from one of its food processing plants. Consequently, Maple Leaf Management ordered the closure of its c ulprit plant. The closure was necessary to bring back the company’s tarnished image. With the announcement of the guilty plant facility, Maple Leaf Management sought to retrieve its former glory of being the producer of one of the most popular and high selling food processing plants in Canada. On that fateful August 24, 2008 date, Maple Leaf Management ordered the closure of its failed Toronto, Canada Plant. The spoiled Maple Leaf Management products cause the deaths of five individuals. In addition more than 24 individuals were treated for eating the spoiled food. Because of the spoiled food consequences, the Government of Canada issued warnings to the public to temporarily avoid buying some of the Maple Leaf Management products. The warning was in place until the cloud of spoilage hovering over the skies of Canada’s communities, is resolved. The Canadian government agency, Public Health Agency of Canada, emphasized that the bacteria, Listeria strain, was the culprit. Many of the customers of Maple Leaf Management either died or were hospitalized for food poisoning in August of 2008. In response to the August 2008 bacteria outbreak where four persons died and many others suffered from food poisoning, Maple Leaf Management ordered the recall of all its products. The move is a good marketing strategy. The marketing strategy was to prioritize the safety of its current and prospective clients, the food customers. The outbreak was called Listeriosis.

Comparison of Erikson Kohlbergs Developmental Theories

Comparison of Erikson Kohlbergs Developmental Theories Name the chosen significant developmental aspects and stages of your adult life identify key aspects of each of the two developmental theories Adult development refers to psychological and social changes in an human life. These changes could be fast and gradual. Changes occur at the cellular level and are partially explained by biological theories of adult development and aging. (Hayflick, 1998). These biological changes are often described as theories of human development. Stage theories typically focus on â€Å"age-appropriate† developmental tasks to be achieved at each stage. I have chosen to discuss Eriksons Theory Personality and Kohlbergs Stages of Moral Development. The first chosen developmental aspects and stages of my adult life is Erik Eriksons theory based on human development over a life span (Erikson, 1963). Erikson developed 8 stages starting from childhood, adolescence and adulthood, stages shown below. During each stage, one developmental task is dominant, but may be carried forward into later stages as well. According to Erikson, individuals may experience tension when advancing to new stages of development, and seek to establish equilibrium within each stage. (Glassman Hadad, 2009) The second development aspect and stages of my adult life is Lawrence Kohlbergs Stages of Moral Development (Kohlberg, 1981). Kohlbergs model is based on moral reasoning and ethical behaviour which involves 6 developmental stages. Each stage is grouped into 3 levels; pre-conventional morality, conventional morality and post-conventional morality as shown below. Kohlberg found that moral development was mainly formed around justice and would continue through human life span. Kohlberg was determined to find out how people justify their actions if they were placed in a predicament where their morals were pushed. Progress through Kohlbergs stages happens as a result of the individuals increasing competence, both psychologically and in balancing conflicting social-value claims. Knowledge and learning contribute to moral development. Specifically important are the individuals view of persons and their social perspective level, each of which becomes more complex and mature with each advancing stage. Analyse the chosen developmental events with reference to two major developmental theories. The first developmental event I have chose is Love: Intimacy vs. Isolation (young adulthood) from Eriksons 8 stage theory. This stage typically occurs ages from 20 to 39 years. At the beginning of this stage the previous stage is ending at Idenitiy vs. Role Confusion, which is the part of young adults lives where they still feel the need and urge to fit in with friends. Young adults want to fit in with their peer group and be accepted. Moving into the next stage of having the feeling of either isolation, which is pulling away from intimacy and relationships. This can be evidenced by being afraid of rejections or being hurt and distancing yourself from any type of love interest because of these negative feelings, or be able to form an intimate relationship. Once people have established their identities, they are ready to make long-term commitments to others. They become capable of forming intimate, reciprocal relationship through marriage or close friendships The second developmental event that I have chosen is Level 2- Conventional from Kohlbergs Model. This consists of Stage 3 Stage 4. This level typically occurs at adolescence and young adulthood. Young adults begin to judge the morality of actions by comparing them to societys views and expectations. This is characterised by an acceptance of societys conventions concerning right and wrong. A young adult will obey rules and follows societys norms even when there are no consequences for obedience or disobedience. During Stage 3 of Level 2, young adults enter the social order and conform to social standards. Stage three reasoning may judge the morality of an action by evaluating its consequences in terms of a persons relationships, which now begin to include things like respect, gratitude and the concept of treating others how you would like to be treated. It is important to be liked and fit in with society. In Stage 4 of Level 2 young adults begin to understand the importance of obeying the laws and social conventions in order to maintain a functional society. Stage 4 provides a sense of justice and the ability to determine what is right and wrong. legal responsibility is evident at this stage. Morality starts to become dictated by outside forces. Reflect on your personal responses and experiences in relation to these significant developmental aspects and stages I believe that within my life I am at the developmental stage of each of Eriksons Theory: Love, Intimacy vs. Isolation and Kohlbergs Model: Conventional- Stages 3 and 4 At this point in my life I believe my romantic relationship is at the Eriksons stage of Intimacy vs. isolation as I am getting to a time in my life where I want a serious relationship however I acknowledge that I am frightened of getting hurt and won’t allow myself to open up, therefore I isolate myself to protect my ego from being bruised. Erikson (1963) states that in this stage our egos cannot bear the pain of rejection such as being turned down or our partners breaking up with us. In regards to Kohlbergs Model I believe I am at the Conventional Level and a mixture of both Stages 3 and 4. In my personal relationships I show and also expect respect from others. I also am aware of kindness and privileges in life and show gratitude -even for the small things. I treat my family, friend and colleagues as I would like to be treated. At this point in my life I have such high morals as evidenced in stage 4, in regards to drugs. I am 25 years old and do not use drugs ,however I have friends around me who use drugs recreationally. I am acutely aware of what is right and wrong, and what is legally and socially acceptable in societal norm. I have an acute sense of moral judgment and do not like getting involved with those that abuse this position. I think how stupid can you be drugs are so dangerous not only can they psychically harm you but mentally as well, apart from being against the law. In conclusion, I feel that a combination of the developmental philosophies as designed by Erikson Kohlberg are relevant to the stage in my life that I am currently in. I believe that psychological development involves physical, sensory, cognitive, social and emotional processes, and the interactions among them. If I focus on where my future lies, it becomes clear that change is inevitable. This will occur through the progression through the different developmental phases. Reference current literature and integrate relevant theory into your essay discussion Erikson, E.H. (1963) Childhood and Society. 2edn. New York: Norton Glassman, W.E. Hadad, M. (2009) Approaches to Psychology . Fifth Edition. London. Mcgraw-Hill Hayflick, L. (1998). How and why we age. Experimental Gerontology, 33, 639-653. Kohlberg, L. (1981) The Meaning and Measurement of Moral Development (Volume 13)

Justice As Desert: Is There Any Such Thing? :: Philosophy Philosophical Essays

Justice As Desert: Is There Any Such Thing? ABSTRACT: Philosopher Matthew Lipman, in Social Inquiry, says that there are instances in which 'what one deserves may be specified fairly readily. A sick child deserves medicine, a hungry child deserves food, children deserve an education...' This seems to imply that these are cases in which what one deserves is clear-cut, and only when 'the cases become more complicated' does it become 'progressively more difficult' to determine desert. I would submit that these cases are not nearly so cut-and-dry, in terms of determining desert, as one might imagine. Is it really correct to say that a sick child deserves medicine? Who is to say? Who is to be the ultimate arbiter? Is there some sort of authority or power (higher or otherwise) who is looked to in order to make such a determination (or who is looked to in order to justify making such an assertion in the first place)? Is desert to be determined based on need? On abundance of what is deserved? On legal entitlements? This paper will add ress just such questions. Philosopher Matthew Lipman, in Social Inquiry, says that there are instances in which "what one deserves may be specified fairly readily. A sick child deserves medicine, a hungry child deserves food, children deserve an education...." (1) This seems to imply that these are cases in which what one deserves is clear-cut, and only when "the cases become more complicated" does it become "progressively more difficult" to determine desert. (2) I would reply: not so fast. These aforementioned cases, I submit, are not nearly so cut-and-dried, in terms of determining desert, as one might imagine. Is it really correct to say that a sick child deserves medicine? Who is to say? Who is to be the ultimate arbiter? Is there some sort of authority or power (higher or otherwise) who is looked to in order to make such a determination (or who is looked to in order to justify making such an assertion in the first place)? Certainly, a sick child usually needs certain medication in order to get better. Moreover, in a society in which such medication is plentiful, legislators may be prompted to enact a law that stipulates that all sick children are entitled legally to such medication. But do they deserve such medication, just because they need it or the medication is abundant or they are legally entitled to it?

Philosophy of Early Childhood Essay

My philosophy of Early childhood education is based on research that indicates that a child’s growth is developmental. Every child is unique in terms of life experiences, developmental readiness, and cultural heritage. A high quality early childhood program that provides a safe and nurturing environment, which promotes physical, social, emotional, language and cognitive development will ensure a positive continuation of the child’s education process. The National Association for the Education of Young Children states that high quality, developmentally appropriate programs should be available for all children. Bredekamp, S. , and T. Rosegrant. 1992. Reaching Potentials: Introduction. In S. Bredekamp and R. Rosegrant (Eds. ). Reaching Potentials: Appropriate Curriculum and Assessment for Young Children,* vol. 1, pp. 2-8. Washington, D. C. : National Association for the Education of Young Children. This is a statement that I firmly believe in and hope to incorporate in my teaching career. Young children before the age of eight, have an enormous potential for growth and achievement. And it is my philosophy that they have to right to fulfill their possibilities. A young child who is nurtured to reach for his or her educational goals from an early age and has been instilled with self-confidence will continue to pursue educational goals as he or she matures . 2. I have learned that an early childhood teacher immensely impacts the learning experience of the young children entrusted in his or her learning environment. Early childhood teachers make decisions each day on how best to present concepts to be learned, what is appropriate for a specific child given that each child comes to the learning center from diverse backgrounds and needs and how to nurture and support growing development in each child. As an early childhood teacher I would strive to provide information in a creative manner, engage children in discovery and mastery of concepts and skills, nurture development of play, and foster positive social interaction between myself and the children. 3 conceptual models that influence my philosophy of teaching: 1. John Dewey. What I find of interest in Dewey’s theory is that â€Å" Childhood has ways of seeing, thinking, and feeling, peculiar to itself. http://www. marxists. org/archive/novack/works/1960/x03. htm Dewey advocated that the need to know comes from within the child. Each child has an innate curiosity that should be nurtured and developed. He believed that children learn by doing. This theory is beneficial in an early childhood setting as that it encourages children to explore areas of interest and to creatively expand the knowledge. 2. Jean Piaget: His research shows that children cognitively develop in stages. His theory is the foundation for constructivist learning. Piaget’s theory emphasizes discovery learning and supporting the developing interests of the child utilizing this theory in early childhood education I would I challenge the child’s abilities, but not present material or information that is too far beyond the child’s level. I would also use a wide variety of concrete experiences to help the child learn. 3. Maria Montessori: The Montessori method of teaching stresses that all children have similar needs regardless of social status or intellectual abilities. The Montessori Method is a way about thinking about who children are. It is a philosophy that respects the unique individuality of each child. By utilizing this method , the teaches does not compare a child to norms or standards that are measured by traditional educational systems. But instead this theory is founded on the belief that children should be free to succeed and learn without restriction or criticism. Next part of question I believe that each child should enter an early childhood classroom with the expectation that he or she will have a good day. It sounds simple but in reality it is complex. As an early education teacher I will be interacting with children who are coming with diverse backgrounds, learning abilities, social, emotional and physical development. It will be a challenge to meet the needs and be supportive of this diversity. In order to succeed in this goal, my classroom would be welcoming to the child. How is this accomplished? Child sized furniture placed in areas for the children to work on projects; rug areas so that the children can creatively and comfortably play or look at books; an area with ample supplies to intrigue developing imaginations; colorful posters to make the room visually pleasing to a young child. But environment is only part of the educational experience that I would strive to present to early learners. Given what I have learned about the different ways that children learn and develop, lessons presented would engage the diverse learning methods of the children so that each will be lead to understanding to the best of his or her ability. Young children develop best when they experience acceptance of who they are, no matter what their abilities are. As an early childhood educator I would strive to not only let my students know that they are part of the classroom community, but that they are an important and integral member of our class.

The similarities or and differences of studying in private university and government university Essay

?The similarities or and differences of studying in private university and government university A university is an institution of higher education and research which grants academic degrees in a variety of subjects. A university is a corporation that provides both undergraduate education and postgraduate education. Actually, University was divided into two which are state university and private university. Public or state universities operate in whole or in part on state or federal funds. This means all students regardless of race, religion and gender. Conversely, private institutions may make exemptions, such as women-only campuses, or men-only, and religious schools. There are similarity and contrast of state university and the private university; the similarity of state university and private university is both universities require the student to have a bachelor’s degree but both of them also have differences which are the cost for student, the program available and the standard score for student’s success. The first similarity of state university and private university is both universities require the student to have a bachelor’s degree. Actually, a bachelor’s degree is the first degree a student can receive in his or her academic career, with the exception of the associate’s degree. The bachelor’s degree is sometimes awarded after learning an associate’s degree, though it is often the first degree that is gotten. Whether or not an associate’s degree can be gotten first depends upon the area of study. Both of the universities have the same standard to get bachelor degree. Not only that, state university and private university also have the differences which are the cost that must be paid by the student, the program available and the standard of scoring for student success. The first difference is the cost that must be paid by students. Many people assume a public college is cheaper than a private college because of tuition fees are reduced for state residents. But the posted â€Å"sticker price† of a private college is rarely the real price. If a private college strongly appeals to you, consider waiting for its financial aid offer before making a final decision. More often than not, private colleges offer the scholarships and grants that significantly cut your actual cost, even bringing it close to the cost of a public college. Public college cost gets trickier for out-of-state students. Public colleges are largely supported by state taxes. This means that put-of-state students. Whose families have not paid these taxes; usually owe higher tuition than in-state students. Paying out-of-state tuition often put the cost on a par with the cost of private colleges. The second difference is programs availability. Many private universities do not offer as wide a range of classes and major options as public schools do. If you are looking for a specific major, it will often be harder to find a private school that offers that option and once you do find that university, it may be out of state and therefore out of budget. On the other hand, large public universities are often able to offer a wider range of subjects for you to study as well as more teachers to cover them. And the last difference is the standard of scoring for students test. Actually, both universities are not the same in scoring for student’s success. For example, the students are learning the same material and taking the same tests, they are getting the different score because the both of the universities have different grade of the test. Actually, what really differs between the two universities is the school atmosphere in which the student learns the material. The students result formed through their school experiences are usually dramatically different. Based on this explanation above, state university and private university have several similarities and differences. The similarity is both universities require the student to have a bachelor’s degree. And the differences from both of them are the cost for student, the programs available and the standard score for student success. In my conclusion, the effect from the several similarities and differences are to help the students to decrease their problems and to make their learning process joyful. For recommendation, this explanation is about choice and initiative on the parts of the students and the lectures.