Economical Markets Paper Essay Example | Topics and Well Written Essays - 1250 words

Economical Markets Paper - Essay Example Monopoly is an economic structure where there one participant which controls the marketplace. . In such a market the firm realizing business controls the price, but it is not immune to the law of demand and supply. The price is set at the quantity and price point which maximizes profit for a company.. The market demand is downward sloping, but the difference is that in order to maximize profits price is not part of the equation and the formula is determined by the following equation, MR=MC. An example of an intangible asset which allows the formation of a monopoly in Parkersburg is Water – City of Parkersburg Utility. The company is the only firm that produces water within the region, thus they are monopoly. Utility monopolies are at times received governmental incentives so that the basic utility services such as water and electricity become cheaper for the people living below the poverty. Another economic market structure is monopolistic competition. Monopolistic competition is a market structure in which there are lots of competitors and the players utilized differentiation in order to bring uniqueness to their produce offer discrepancies among similar products. In order to effectively compete in such a market it is important to differentiate the product. This can be accomplished though expert advertising, innovation or better production methods. The market demand curve in monopolistic competition slopes downward, thus the equation to maximize profits is MR=MC. Graphically to determine the price for this output the economist extends the quantity line to the demand curve. In Virginia a company that operates in monopolistic market structure is Dairy Queen Brazier. Dairy Queen is a company in the fast food industry which delivers a product that is unique for the industry. The offers classic burgers and hotdogs, but the company also offers gourmet dairy product such as fresh bread,

The Use Of Irony In The Stone :: essays research papers

Irony is an important literary device in many stories and there are many examples of it in 'The Stone Boy'; by Gina Berriault, Animal Farm by George Orwell, and The Tragedy of Romeo and Juliet by William Shakespeare. In all of these works, irony plays an important role in the plot of the story.   Ã‚  Ã‚  Ã‚  Ã‚  In 'The Stone Boy';, the title of the story is a good example of irony. The title indicates to the reader that Arnold has no feelings and is like a stone. The irony here is that Arnold cares more about Eugie than anybody, he just doesn't know how to express it. Although Arnold did not start out as a 'stone boy';, by the end of the story the other characters' actions forced Arnold to 'build a wall'; around himself so his feelings couldn't be hurt anymore.   Ã‚  Ã‚  Ã‚  Ã‚  George Orwell also used irony in the plot of Animal Farm. In the beginning of the story, Old Major talks about rebelling from Mr. Jones 'administration';. Mr. Jones' way of running things was in a sense a form of capitalism. The animals had an idea about a socialist form of government. This existed for a short period of time when the animals had all the power. When Napoleon took charge, he gradually gained power and after a while the farm was soon under the rule of a capitalist. This change in government ultimately led to the downfall of the farm. This a good example of irony, because capitalism was the thing the animals were trying to get away from, and in the end it led to their downfall. At another point in the story, when Boxer is being taken to the 'hospital';, he is really being taken to a slaughter house. The animals think that Boxer's life is going to be saved, when it was really being taken away from him.   Ã‚  Ã‚  Ã‚  Ã‚  In The Tragedy of Romeo and Juliet, William Shakespeare uses different forms of irony in many ways. First of all, the Friar marries Romeo and Juliet to end their families feud, but the marriage ends up leading to their death. This is an example of situational irony. Another example of irony is when Juliet's parents are planning a wedding for her, when she is already

Inflation and Unemployment Essay

Recently, the United States of America has been bombarded with a great financial crisis. Many companies resulted to bankruptcy forcing the owners to close their businesses. Other companies had lay-off some workers to lessen the operating costs of their business. Few other companies resulted to cutting the employee’s benefits to avoid laying-off and closure. Workers earning below marginal income resigned from their job in the hope that they could find another job which pays better. Among these responses, the most notable problem is the increase in the rate of unemployment. In a report from Bureau of Labor Statistics (2009) among the 2,309 population in Iowa only 1,602 are employed while 62 are jobless in 2007. In 2008, from 2,325 members of the population, 1,607 are employed while 69 are jobless. Measuring the employment-population ratio of Iowa residents aged 16 years and above, the rate of unemployment was at 69. 4 percent in 2007 and 69. 1 percent in 2008 (U. S. Bureau of Labor Statistics, 2009). Meanwhile, the U. S. Bureau of Labor Statistics (2009) reported that the unemployment rate in Waterloo-Cedar Falls Metropolitan Area rose at 8 percent in February 2009 whereas the jobless rate was recorded at 4. 9 percent. This is relatively high as compared to unemployment rate in 2008 which was at 3. 9 percent and in 2007 which was at 3. 7 percent (U. S. Bureau of Labor Statistics, 2009). State inflation has been identified as one of the major factors that contributed to the increased number of the unemployed. Inflation refers to â€Å"a process in which the average level of prices increases at a substantial rate over a considerable period of time† (Grolier Encyclopedia, 1995, 150). This implies that more money is needed to buy a certain amount of products and services. In Keynesian term, the relationship of inflation and unemployment has been described as: Wage costs are among the costs that rise in response to higher pries. When unemployment is low, employees can old out for full compensation for the higher prices, and raises above that. When unemployment is high, however, the employees will have to settle for less, and so costs do not rise as fast as prices when unemployment is high. (cited in Inflation and Unemployment). Adopting this term in the case of Waterloo-Cedar Falls, the high price of goods and services lead to increase in the number of unemployment since the companies are forced to cut down their human resources to adapt to the increasing prices of goods and services that caused high costs in production. There are also times in Waterloo-Cedar Falls when high unemployment caused high inflation yet the production cost did not increase as fast as the prices. In this situation, high employment is caused by low labor wage. Since the wage is low, the demand for product and services is also low forcing the companies to increase their prices in order to compensate for the low demand of products and services. Analyzing the relationship between inflation and unemployment the following factors are said to contribute to the increase or decrease of the two variables: wage as part of production costs, level of demands and supply, and cost of goods and services. Depending on the movement or behavior of these factors, the level of inflation or unemployment will either increase or decrease. Yet, it does not always follow that when unemployment is high; inflation is also high or vice versa. There are other instances when unemployment is low yet the level of inflation is high or vice versa. Again the increase or decrease in level of the two variables depends on the above mentioned contributing factors. The Waterloo-Cedar Falls, however, tried to address the problems of inflation and unemployment by creating job opportunities for its residents. As expressed by Bob Seymour, Cedar Falls community services manager and economic development director, in an interview by Jim Offner (2009)† â€Å"Obviously, we’re not immune to what’s going on nationally, but we’re pleased that we’ve been able to see some expansion and new-project interest in Cedar Falls right now. The university obviously keeps us on an even keel, and I think our business community has learned to be more diversified and in a better position to weather these down times. Projects like Target Corp. ’s new perishables distribution warehouse and retail developments in Cedar Falls also are helping the city withstand national trends. † (cited in Offner, 2009). This solution however is applicable only for a short period of time. To really solve the problem of inflation and unemployment, Waterloo-Cedar Falls should implement a demand managing policy wherein the government and private sectors will be required to learn how to manage demands in supply (both of labor and product materials) and demands in product and services according to economic situation. Such management is needed so that the people of Waterloo-Cedar Falls will be trained to expect the worst consequences of increase or decrease level of inflation and unemployment. References Grolier Encyclopedia. (1995). Inflation. In U. S. Grolier Encyclopedia of Knowledge 10, 150. USA: Grolier Incorporated. Mc Cain R. A. 2009. Inflation and Unemployment. Retrieved April 24, 2009 from http://william-king. www. drexel. edu/top/prin/txt/AS/where1. html Offner, J. (2009). Local jobless rates among best in state. Retrived April 24, 2009 from http://www. wcfcourier. com/articles/2009/03/11/news/breaking_news/doc49b7a3bf91f75482515049. txt U. S. Bureau of Labor Statistics. (2009a). Over-the-year change in unemployment rates for Metropolitan Areas: Monthly rankings, not seasonally adjusted. Retrieved April 24, 2009 from http://www. bls. gov/web/laummtch. htm. U. S. Bureau of Labor Statistics. (2009b). Regional state and unemployment, 2008 annual averages. Retrieved April 24, 2009 from www. bls. gov/news. release/pdf/srgune. pdf.

Leadership Is A Contact Sport - 1003 Words

Group Summary_Forum10 Introduction Leadership is a contact sport. As with any sport skills, best practices, and preparation are on constant display for both teammates and competitors to see. Leaders must hone specific characteristics and traits that give them the ability to earn the respect of those who would follow. In this paper the traits of courage, integrity, and growth will be expressed as important concepts in the development and maintenance of a leader. Group Consensus The three topics chosen were all considered important to the group members. With courage and integrity the two traits tend to go hand in hand. A leader with integrity will gain the trust of his or her followership while courage will inspire them and lead change. Dees describes the concepts of integrity and courage an â€Å"essence† of leadership and a unifying factor in all aspects of a leader’s life. (Dees, 2013) The third concept of growth and learning express the maintenance a leader must exemplify in their own personal journey. With growth and learning practices and techniques that provide a strategy for this maintenance. Biblical Integration In the book of Isaiah the prophet writes that â€Å"but they who wait for the Lord shall renew their strength; they shall mount up with wings like eagles; they shall run and not be weary; they shall walk and not faint.† Isaiah 40:31 (English Standard Version) In context, Isaiah express that the Lord will be the source of our courage and integrity and by â€Å"waitingShow MoreRelatedA Program Sports Program For The Junior Sport Camp Program1290 Words   |  6 PagesMini University camps began in 1979 as an outreach sports program. Their operations take place in Winnipeg at the University of Manitoba. In their first year of operations 990 children aged 4-18 participated in their 17 different sports camps. Since then, Mini U has grown. 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