Thursday, August 27, 2020

Personal goal Essay Example | Topics and Well Written Essays - 1250 words - 1

Individual objective - Essay Example They are an extraordinary method to allow your life an importance and lift your exercises to upgrade all the things that encompass you  (Johnson, 65). After an away from of every one of these viewpoints, it gets simpler to set vocation objectives and settle on mindful choices with respect to individual and expert turns of events. Through getting a business the executives degree, my profession intrigue is to choose and accomplish an International Institute of Business Analyst (IIBA) affirmation to additionally exceed expectations my vocation. I will function as an undertaking supervisor to increase down to earth introduction. Following barely any long periods of working in a similar field, I will accomplish a Project Management Body of Knowledge (PMBOK) accreditation alongside Six Sigma (Lunenburg, 95-100). With the coming of globalization, the human asset has watched a critical pattern in numerous associations. Being an undertaking supervisor, I would imagine myself being doled out in various nations to do different activities. It isn't astonishing that identified with the developing enthusiasm for a usage of venture the executives, I would be working in enhanced undertakings with considerably more provoking employments in contrast with today’s advertise. The adequacy of globalization lies in the industriousness and certain conveyance of work and tasks. After an essential arranging has been explained and coordinated, useful viewpoints including overseeing usage, undertakings and cooperation among seaward and on location bunches accomplish higher significance. Supervisors keep on extending trial learning’s, explicitly with regards to translation arranging into commonsense projects. Usage of the Body of Knowledge will be enhanced by an endorsement of globalization, which is likewise my objective to accomplish. One year from now, I would obtain specific task the board information in a worldwide setting and inside five years of time, I would exceed expectations with down to earth usage of what I have realized and practice those speculations in the global situation. Following 10 years, I plan to be in the top administrative positions working with broadened foundations which will proceed till I get the foreordained status in my field of activities (Morisano and Hirsh, 255â€264). Globalization by and large identifies with different elements that can affect vocation or individual objective improvement process. Since I am anticipating exceed expectations in the undertaking the executives field, it will be radically adjusted through globalization patterns. Globalization has coordinated to multi-faceted, multi-refined undertaking bunches that works across limits, across time regions, and in different lingos. It is presently very recognizable to observe venture bunches using web based apparatuses for correspondence, rather than regular gathering calls. Through globalization, I would confront cash changes all around the globe that c ould raise the expense of material, information move between various countries can be widely mind boggling, and producing reinforcement plans should any of the staff face challenges in different states is turning out to be more crucial (Johnson, 65). Globalization is a theoretical wonder. It doesn't identify with an inflexible thing. It is a cultural methodology. Henceforth the calculated structure of globalization isn't anything but difficult to decide. To make exact, it is important to expand the whole hypothesis in which our thought regarding globalization is incorporated. Conceptualization requires drawing hypotheses from the real world. There are various elements of globalization that makes direct impact on close to home and

Saturday, August 22, 2020

The Porter Five Forces Analysis Performed On the Case Study of the Article

The Porter Five Forces Analysis Performed On the Case Study of the Music Industry In 2006 - Article Example The paper tells that advertise appeal in this setting alludes to the general business increase of productivity. Then again, in an ugly industry or market arrangement, is one that doesn't fit in with the five powers examination, since it offers a projection of misfortunes inside the market over the long haul. At the end of the day, an ugly market would be one that is moving toward the degree of unadulterated rivalry, that is, the accessible benefits for all organizations inside the market are delineated at an ordinary benefit. The watchman five powers scientific model has the accompanying segments the encourage the assessment of a specific item inside the business: The initial segment of the doorman five powers model is the Internal Rivalry, which clarifies the serious level inside the business. In this specific situation, the force of rivalry inside the music business in that particular year is high since given the various number of players in the music business. The significant play ers in this market incorporate Universal Music Group which possesses 26% portion of the music worldwide market and has the possibilities of converging with Sony BMG Music Entertainment to expand the creation pace of distributing music media. The converging of organizations inside a market will in general combine the business. For instance, in the time of 2004, the amusement and recording organizations, Sony Music and the BMG, converged to change the balance inside the serious market. The significant organizations featured for the situation study in regards to the prospected changes in the music business structure mergers with the desire for each organization attempting to well contend with one another by growing new items or expanding the mass of creation in the market constantly. For example, the 50-50 joint endeavor among Sony and BMG Music Entertainment which made it the second biggest major in the music business.

Friday, August 21, 2020

How to Write an Essay Topic That Will Stand Out

How to Write an Essay Topic That Will Stand OutWhen you begin writing a college essay, you may feel you need to be very specific and organized. While this is important, you should also be open to exploration and change as you grow as a writer. You should always think about which themes and questions will help to emphasize certain areas in your writing. Doing so will ensure that you create a strong essay.If you do choose to go with a very specific theme, keep in mind that you need to keep the essay centered on action verbs. For example, in your college essay, you can discuss the mechanics of a viral infection. This topic can help you to expand on a technical subject. If you choose to go with a more interesting subject, consider a personal experience that would illustrate the point you are trying to make. Using a real-life analogy will allow you to include the types of things that will enhance your understanding of the subject at hand.At times, getting a little adventurous may allow yo u to add a little bit of substance to your essay. If you are able to use some 'out there' words, they will provide an interesting addition to your essay. The trick is to pick out just a few words that you believe will add some spice to your essay. You should then use those words to highlight an idea or concept. Getting to the point is a key to good writing.Keep in mind that you can sometimes use different words to refer to different subjects when it comes to college-essay topics. You can get creative and list several topics in one paragraph. Try to mix topics to reflect the many academic subjects you may have chosen to write about. This will give your essay more focus and, therefore, make it more successful.Whether you choose to write a real life story or a fictional piece, you should be careful about how you frame your essay topics. If your essay focuses on an experience, you should use it to reveal a personal story. If your essay focuses on a personal experience, you may want to t hink about what it is that makes it memorable.Consider using your student government as a backdrop to your essay. Students tend to be good sources of inspiration for the audience. They may even have a few things to say about your topic. However, before you submit your essay, make sure you will be able to address any concerns the students have.Whenever you are putting together your essay topics, you should include a personal perspective. Remember that the point of an essay is to discuss and explain a particular topic. Knowing what you are writing about helps you better represent your own knowledge of the subject.Do not simply choose essay topics that appeal to you. Instead, use a wider range of topics that may apply to other aspects of your life. Find the right topics by being open to exploring things that others may find interesting. It is also important to ensure that you add a personal touch to the topics you choose. With these tips, you will create a compelling and well-written e ssay that anyone will enjoy reading.

Tuesday, May 26, 2020

The Great Gatsby By F. Scott Fitzgerald - 970 Words

The Great Gatsby the American Dream The story The Great Gatsby occurs within the limits of Long Island, New York in the summer of 1922. The era of perished moral values, distrust, greediness, and an unfilled search of happiness. F. Scott Fitzgerald (author of this novel) introduces many different characters who, ultimately, were in search of the American Dream. Nick Carraway, the narrator goes to New York in hopes of learning about the bond business. Nick wishes to one day achieve the American Dream of becoming rich. He lives in West Egg were the â€Å"new rich† reside. Jay Gatsby is Nick’s neighbor. Gatsby is strongly admired by Nick due to the fact that Gatsby is young, rich, and handsome, but it is said that he became rich by doing illegal activity. In East Egg, you have the â€Å"old rich† refers to money that has been around in the family, that has been inherited. In East Egg resides, Tom Buchanan who is a dominant, unfaithful, arrogant man who went to scho ol with Nick. Daisy Buchanan who is the wife of Tom and the cousin of Nick. Jordan Baker who is friends with Daisy and Tom, and is a professional golfer. The Great Gatsby also shows many symbols representing or having ties with his famous American Dream. One of the main symbols, is the green light that Gatsby is always looking at. This light first appears in the beginning of the book when Nick states, â€Å"he stretched out his arms toward the dark water in a curious way, and, far as I was from him, I could have sworn heShow MoreRelatedThe Great Gatsby by F. Scott Fitzgerald1393 Words   |  6 PagesF. Scott Fitzgerald was the model of the American image in the nineteen twenties. He had wealth, fame, a beautiful wife, and an adorable daughter; all seemed perfect. Beneath the gilded faà §ade, however, was an author who struggled with domestic and physical difficulties that plagued his personal life and career throughout its short span. This author helped to launch the theme that i s so prevalent in his work; the human instinct to yearn for more, into the forefront of American literature, where itRead MoreThe Great Gatsby By F. Scott Fitzgerald1343 Words   |  6 PagesHonors English 10 Shugart 18 Decemeber 2014 The Great Gatsby F. Scott Fitzgerald s 1925 novel The Great Gatsby is a tragic love story, a mystery, and a social commentary on American life. The Great Gatsby is about the lives of four wealthy characters observed by the narrator, Nick Carroway. Throughout the novel a mysterious man named Jay Gatsby throws immaculate parties every Saturday night in hope to impress his lost lover, Daisy Buchanan. Gatsby lives in a mansion on West Egg across from DaisyRead MoreThe Great Gatsby By F. Scott Fitzgerald1155 Words   |  5 PagesThe Great Gatsby The Jazz Age was an era where everything and anything seemed possible. It started with the beginning of a new age with America coming out of World War I as the most powerful nation in the world (Novel reflections on, 2007). As a result, the nation soon faced a culture-shock of material prosperity during the 1920’s. Also known as the â€Å"roaring twenties†, it was a time where life consisted of prodigality and extravagant parties. Writing based on his personal experiences, author F. ScottRead MoreThe Great Gatsby By F. Scott Fitzgerald1166 Words   |  5 Pagesin the Haze F. Scott Fitzgerald lived in a time that was characterized by an unbelievable lack of substance. After the tragedy and horrors of WWI, people were focused on anything that they could that would distract from the emptiness that had swallowed them. Tangible greed tied with extreme materialism left many, by the end of this time period, disenchanted. The usage of the literary theories of both Biographical and Historical lenses provide a unique interpretation of the Great Gatsby centered aroundRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of w ealth and social standings. Social class is represented through the East Egg, the WestRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay970 Words   |  4 Pagesrespecting and valuing Fitzgerald work in the twenty-first century? Fitzgerald had a hard time to profiting from his writing, but he was not successful after his first novel. There are three major point of this essay are: the background history of Fitzgerald life, the comparisons between Fitzgerald and the Gatsby from his number one book in America The Great Gatsby, and the Fitzgerald got influences of behind the writing and being a writer. From childhood to adulthood, Fitzgerald faced many good andRead MoreThe Great Gatsby By F. Scott Fitzgerald2099 Words   |  9 Pagesauthor to mirror his life in his book. In his previous novels F. Scott Fitzgerald drew from his life experiences. He said that his next novel, The Great Gatsby, would be different. He said, â€Å"In my new novel I’m thrown directly on purely creative work† (F. Scott Fitzgerald). He did not realize or did not want it to appear that he was taking his own story and intertwining it within his new novel. In The Great Gatsby, by F. Scott Fitzgerald, he imitates his lifestyle through the Buchanan family to demonstrateRead MoreThe Great Gatsby By F. Scott Fitzgerald1607 Words   |  7 Pages The Great Gatsby is an American novel written in 1925 by F. Scott Fitzgerald. One of the themes of the book is the American Dream. The American Dream is an idea in which Americans believe through hard work they can achieve success and prosperity in the free world. In F. Scott Fitzgerald s novel, The Great Gatsby, the American Dream leads to popularity, extreme jealousy and false happiness. Jay Gatsby’s recent fortune and wealthiness helped him earn a high social position and become one of the mostRead MoreThe Great Gatsby By F. Scott Fitzgerald1592 Words   |  7 PagesMcGowan English 11A, Period 4 9 January 2014 The Great Gatsby Individuals who approach life with an optimistic mindset generally have their goals established as their main priority. Driven by ambition, they are determined to fulfill their desires; without reluctance. These strong-minded individuals refuse to be influenced by negative reinforcements, and rely on hope in order to achieve their dreams. As a man of persistence, the wealthy Jay Gatsby continuously strives to reclaim the love of hisRead MoreThe Great Gatsby By F. Scott Fitzgerald1646 Words   |  7 PagesThe 1920s witnessed the death of the American Dream, a message immortalized in F. Scott Fitzgerald’s The Great Gatsby. Initially, the American Dream represented the outcome of American ideals, that everyone has the freedom and opportunity to achieve their dreams provided they perform honest hard work. During the 1920s, the United States experienced massive economic prosperity making the American Dream seem alive and strong. However, in Fitzgerald’s eyes, the new Am erican culture build around that

Friday, May 15, 2020

The Character of Willy Loman in Arthur Millers Death of...

The Character of Willy Loman in Arthur Millers Death of a Salesman Willy Loman, the main character in Death of a Salesman is a complex tragic character. He is a man struggling to hold onto the little dignity he has left in a changing society. While society may have caused some of his misfortune, Willy must be held responsible for his poor judgment, disloyalty and foolish pride. Willy Loman is a firm believer in the American Dream: the notion that any man can rise from humble beginnings to greatness. His particular slant on this ideal is that a man succeeds by selling his charisma, that to be well liked is the most important asset a man can have. He made a living at this for 30 years, but as he enters the reclining years of†¦show more content†¦Biff, after catching his father with the woman begins to question these values. He realizes that for him, at least, these values are not applicable, and he is not too concerned if he doesnt come out on top. He just wants to be able to say he knows who he is. The aptly named Happy continues to believe in these ideals even after his fathers death and decides that the Loman name will succeed. In 1949, shortly after the plays premiere, Miller wrote a controversial essay about how Death of a Salesman was a true tragedy, only with common people rather than kings. Lomans lack of self-awareness is not unlike King Lears, it could be argued - both men evoke the tragic by dying in the effort to secure, in Millers words, a sense of personal dignity. As the play progresses, one begins to feel sorry for Willy and his predicament, but also angry and frustrated with the character for his foolish pride. It is this trait that prevents him from accepting a steady job with Charlie, something that could have saved his life. However, it is this false pride has been sparking the family flame for years, the notion that the Loman name was well known and well-liked. The family lie even amongst themselves about their position as is revealed during the climax of the play: BIFF ...We never told the truth for ten minutes in this house! HAPPY We always told the truth! BIFF (turning on him) You big blow, are you the assistantShow MoreRelated Minor Characters Impact on Willy Loman in Arthur Millers play, Death of a Salesman471 Words   |  2 PagesMinor Characters Impact on Willy Loman in Arthur Millers play, Death of a Salesman In the Arthur Miller play Death of a Salesman, Willy Loman comes in contact with several characters, many of whom prompt him to examine his past as well as his conscience. Charleys son Bernard is such a character. Lacking dimension and depth of character, Bernard functions primarily as a foil to expose Willys tragic and pathetic nature. The other characters have no real interaction with Willy that wouldRead MoreArthur Miller s Death Of A Salesman Essay1567 Words   |  7 Pagesis a sad story, which represents a character with a tragic flaw leading to his downfall. In addition, in traditional tragedy, the main character falls from high authority and often it is predetermined by fate, while the audience experiences catharsis (Irving 247). Arthur Miller’s play Death of a Salesman is considered to be a tragedy because this literary work has some of the main characteristics of the tragedy genre. In this play, the main character Willy Loman possesses such traits and behaviorsRead MoreDeath Of A Salesman By Arthur Miller1573 Words   |  7 Pagestragedy is a sad story, which represents a character with a tragic flaw leading to his downfall. In addition, in traditional tragedy, the main character falls from high authority and often it is predetermined by fate, while the audience experiences catharsis (Bloom 2). Art hur Miller’s play Death of a Salesman is considered to be a tragedy because this literary work has some of the main characteristics of the tragedy genre. In this play, the main character Willy Loman possesses such traits and behaviorsRead More Willy Loman, Redefining the Tragic Hero in Arthur Millers Death of a Salesman1065 Words   |  5 PagesWilly Loman, Redefining the Tragic Hero in Arthur Millers Death of a Salesman      Ã‚  Ã‚   The events in the life of Willy Loman in Arthur Millers Death of a Salesman are no doubt tragic, yet whether or not he can be considered a tragic hero in a traditional sense is a topic requiring some discussion. Aristotle set the criteria for qualities a character must possess in order to be considered a tragic hero. In order to reach a conclusion on this matter, all six criteria must be examined to determineRead MoreThe Collapse Of A Cherished Businessman1571 Words   |  7 PagesThe Collapse of a Cherished Businessman Arthur Miller, a highly acclaimed and influential twentieth century dramatist, was born in New York City in 1915. Unlike normal Greek tragedies that focus on the aristocracy, Miller’s works often focus on the plight and tragedy of the common man. According to Rachel Galvin in an article for National Endowment for the Humanities, Miller generally illustrated characters that â€Å"wrestle with power conflicts, personal and social responsibility, the repercussionsRead More Death of a Salesman is a Tragedy as Defined in Millers Tragedy and the Common Man1046 Words   |  5 PagesDeath of a Salesman is a Tragedy as Defined in Millers Tragedy and the Common Man In Tragedy and the Common Man, Arthur Miller discusses his definition and criteria for tragedy as they apply to the common man. The criteria and standards proposed by Miller may be used to evaluate his timeless work, Death of A Salesman. The first major standard of tragedy set forth is:   â€Å"...if the exaltation of tragic action were truly a property of the high-bred character alone, it is inconceivable thatRead MoreThe American Dream in Death of a Salesman by Arthur Miller1127 Words   |  5 PagesAmerican dream. To have a big house, two kids and a picket fence. In Arthur Miller’s play Death of a Salesman every character uses lies and deceit as a way to escape reality. With this said, it is only Biff’s character that is dynamic, realizing the error of his ways. Constantly, each character escapes their problems with deceit. Even Biff remains in this state of falsehood, until he reaches his epiphany. The main character Willy Loman, is constantly fooling himself into believing that he is a hugeRead MoreAnalysis Of Arthur Millers Death Of Salesman 1611 Words   |  7 PagesResearch paper on death of salesman Arthur Miller created stories that express the deepest meanings of struggle. Miller is the most prominent twentieth-century American playwrights. He based his works on his own life, and his observations of the American scene. Arthur Asher Miller was born 17 October 1915 in Manhattan, New York city. He was the son of Jewish immigrants from Poland. His parents had a prosperous clothing company. Unfortunately when the stock market crashed, because his familyRead More The American Dream Conspiracy in Death of a Salesman Essay1728 Words   |  7 PagesArthur Miller’s Death of a Salesman tells the story of the failure of a salesman, Willy Loman. Although not all Americans are salesmen, most of us share Willy’s dream of success. We are all partners in the American Dream and parties to the conspiracy of silence surrounding the fact that failures must outnumber successes.(Samantaray, 2014) Miller amalgamates the archetypal tragic hero with the mundane American citizen. The result is the anti-hero, Willy Loman. He is a simple salesman who constantlyRead MoreWilly Loman And The American Dream Analysis1075 Words   |  5 Pages In Arthur Miller’s play, Death of a Salesman, Willy Lomans pursuit of the American Dream is characterized by his selfishness, demonstrating how the American Dream can subtly turn into the American Nightmare. However, Willy’s role is quite important because he often led to failure through the creation of the American Dream and the real world. To fully understand the storyline of Willy Loman in Death of a Salesman, one must evaluate each member of the Loman family. The death of Willy Loman implies

Wednesday, May 6, 2020

The Financial Crisis Of 2007 - 1982 Words

Introduction The financial crisis of 2007 arose when banks, such as HSBC announced losses due to mortgages in the US housing market (BBC News - Global recession timeline, 2016). The crisis had a global impact as financial systems are interconnected. This crisis had huge impacts in many countries. In fact, in 2009, the UK Chancellor, Alistair Darling announced that the UK had a record debt of  £175 billion (BBC NEWS | UK | UK Politics | Tax rise as UK debt hits record, 2016). This report will analyze this Financial Crisis. Firstly, the reasons for which the banks failed will be discussed and the future of such failing banks will then be analyzed. This report will then examine how to avoid a similar crisis in the future and the current and future legal regulations of the banking system. Reasons for Banks Failure The financial crisis of 2007 is well thought off by numerous economists to have been the biggest financial crisis since the Great Depression of the 1930s. Mortgage is one of the reasons why the bank crisis occurred. The banking crisis happened because the mortgages broker had no encouragement to determine the risk of the loans (, 2016). They were long-term loans expressed by the Bank or Building Society from depositor properties protected on physical asset. The risk is estimated on foundation of house owner’s capability to pay the allowance such as job prospects etc. The idiom Big Bang, used in reference to the unexpected deregulation of financialShow MoreRelatedThe Financial Crisis Of 2007 Essay1676 Words   |  7 Pagesyears after it began? Many people didn’t see it coming. But what’s worse is that the people that did see it coming, contributed to it. Yes. They fueled this mess. And now we can’t get out of it. This is the financial crisis of 200 7 . Let’s dig in to where it all began. The subprime mortgage crisis was a result of mortgage brokers selling mortgage products to people with terrible credit, no down payments for the house, no stable income into the home, and basically no nothing instead of selling it toRead MoreThe Financial Crisis Of 20072289 Words   |  10 Pages Financial Crisis of 2007 How an attempt to avoid a bubble, led to a crash that brought a country near to complete collapse. Essay for Mn2101 Financial Management by Shreya Lodhia 139030749. Word count: 2172 (2214- including titles/headings/subheadings.) CONTENTS ï  ¶ Introduction 2 ï  ¶ Causes of the crash 3 ï  ¶ Effects today 6 ï  ¶ Why interest rates are low 8 ï  ¶ Future of the interest rates 9 ï  ¶ Conclusion 10 ï  ¶ References 11 ï  ¶ Appendix 14 â€Æ'Read MoreThe Financial Crisis Of 20071646 Words   |  7 PagesThe most recent financial crisis of 2007 was felt throughout the world, and brought about huge economic consequences that are still being felt to this day. Within the United States, the crisis undoubtedly resulted in a surge in poverty and unemployment, a significant drop in consumption, and the loss of trust in the capitalist economic system. Because of globalization, this crisis was felt through the intertwined global markets, affecting underdeveloped countries even more. Historical eventsRead MoreThe Financial Crisis Of 20071510 Words   |  7 Pages 3.1 Background information In the words of Goodhart (2008), â€Å"the banking crisis of 2007 was seen in advance† (Goodhart, 2008). This is a result of many different factors. To begin with, between 2001 and 2005, there were very low interest rates, particularly in China due to the Asian crisis of the late 1990s. Because of this financial crisis, many people across Asia were saving instead of investing their money. In order to encourage people to invest in the economy, the interest rates had to plummetRead MoreThe Financial Crisis Of 2007-20091490 Words   |  6 PagesThe financial crisis of 2007-2009 resulted from a variety of external factors and market incentives, in combination with the housing price bubble in the United States. When high levels of bank and consumer leverage appeared, rising consumption caused increasingly risky lending, shown in the laxity in the standard of securities screening and riskier mortgages. As a consequence, the high default rate of these risky subprime mortgages incur red the burst of the housing bubble and increased defaultsRead MoreThe Financial Crisis Of 2007-20081389 Words   |  6 PagesOne of the most devastating aspects of the financial crisis of 2007-2008 to middle-class America was the crash of the housing market. Millions of Americans were affected and faced foreclosures on homes that were purchased with subprime mortgages. The impact of these mortgages varied state to state. Nevada, one of the countries leading tourist destinations, led the market in foreclosure rates and housing appraisal drops. The government s false sense of security in regards to the economy and theRead More2007-2008 Financial Crisis1327 Words   |  6 PagesThe Global Financial Crisis of 2007-2008 The Global Financial Crisis 2007-2008 Economists and scholars spend years dissecting financial markets and evaluating the causes of booms and busts. Throughout United States history there have been multiple economic booms that were underestimated and followed by recessions. In the situation of the 2007-2008 global financial crisis many culprits have been identified as causes, such as loose monetary policy, credit booms, deregulation, over complexity,Read MoreThe Financial Crisis Of 2007-2008994 Words   |  4 Pages The subprime financial crisis of 2007-2008 was brought on by much more than unethical traders. It consisted of multiple variables: the deterioration in financial institutions’ balance sheets, asset price decline, increase in interest rates, and an increase in market ambiguity. This in turn led to the worsening of the adverse selection and moral hazard situation in the market, which led to a decline in economic activity, bringing forth the banking crisis. After the banking crisis, an unanticipatedRead MoreThe Financial Crisis Of 2007 / 2008 Essay808 Words   |  4 PagesThe financial crisis of 2007/2008 had a negative impact on the UK economy, resulting in low growth and high level of unemployment while inflation constantly remained above the 2% target. In those extraordinary circumstances focus of monetary policy had to be on growth rather than reaching inflation target, resulting in gradual reduction of the Bank rate from 5.75% in middle of 2007 to its lowest level of 0.5% in the beginning of 2009 (BoE, 2014). Although, a low interest rate led to significant depreciationRead MoreThe Financial Crisis of 2007-2009526 Words   |  2 Pagesfar the worst financial crisis that it has ever encountered, which was called The Great Depression, but the second worst was not that long ago. During the Financial Crisis of 2007-2009 the United States had a chain of banking failures and a tremendous growth of liability in the federal budget. However, the government had stepped in to prevent some of these failures and through this the concept of â€Å"Too Big To Fail† was created. â€Å"Too Big To Fail† is a concept where a business or financial institution

Tuesday, May 5, 2020

Absolute Advantage vs Comparative Advantage †

Question: Discuss about the Absolute Advantage vs Comparative Advantage. Answer: Introduction The essay revolves around price elasticity of demand knowledge and its importance to producers. Price elasticity of demand is directly impacted to laws of demand and supply. Further ,theres need to understand the absolute advantage and comparative advantage economic concepts management .In addition, theres need to explore the role of specialization and exchange concepts in comparative and absolute advantage. The concept of price elasticity of demand translates to the responsiveness of production to changes in price. Predominantly, in cases of inelastic demand, price increases thus maximized profits whereas elastic demand for goods and services results in decreased revenue .Regarding supply ,the higher the price of a good the higher the quantity demanded hence increased revenue for producers. Reasons for considering price elasticity of demand when setting the price According to the Demand laws, the higher the price of a commodity or service, the less the quantity of commodity or service will be consumed hence it is important for producers to consider price elasticity of demand to enable them meet their target as producers through fixation of optimum price levels(Hayes,2017).Additionally, through price elasticity of demand ,producers are able to be economically and allocative efficient in the sense that production is based on the market conditions at the time hence no wastage of quantity produced. Moreover, through the price elasticity of demand, producers are able to maximize profits in the sense that when the price of goods and services is high ,theres equally increased production(Quantity supplied)thus increased revenue for the producers(Hayes,2017)Further ,price elasticity of demand helps the producers incur less or avoid losses in the sense that when the price of goods is elastic, producers are able to produce less goods to avoid wastage which would otherwise be incurred without proper market information. Also, marketing strategies are best devised with proper knowledge in price elasticity of demand management that is because goods with high elasticity of demand require more marketing strategies cost as compared to goods with low elasticity of demand(Guo,2017). Noteworthy, the principle of absolute advantage is based on absolute advantage theory which stipulates that production of greater and better quantity of goods using the same resources available to competitors whereas comparative advantage is based on comparative advantage theory which implies lower opportunity in the production of goods than competitors. Typically, specialization isnt vital for comparative advantage but vital for absolute advantage. Whereas comparative advantage is based on opportunity cost, absolute advantage is based on superior capabilities and cost. Additionally, comparative advantage promotes mutual benefits while absolute benefits one party more than the other (Olivia, 2011) Comparative advantage is considered the basis of trade. Absolute advantage deals with productivity. Further, comparative advantage determines specialization (Boundless, 2017) Conclusion This essay explores the importance of considering the price elasticity of demand of goods and services from a producers point of view. Further, it looks at the differences between comparative and absolute advantage from the standpoint of specialization andexchange perspectives .All in all it can be said that laws of demand and supply play a crucial role in production and profit maximization .Lastly, specialization is key for comparative advantage in trade. References Boundless.(2017)Absolute Advantage vs Comparative Advantage.Boundless.Retrieved from Guo, V.(2017)Price Elasticity 101:The Necessity and your pricing strategy. Price Intelligently. Retrieved from Hayes, A. (2017) Economics Basics: Supply and Demand management.Investopedia. Retrieved from Olivia. (2011) Difference between absolute and comparative Advantage. Difference Between. Retrieved from