Thursday, October 31, 2019
Discrete Mathematics(Mathematical Algorithms) Research Paper
Discrete Mathematics(Mathematical Algorithms) - Research Paper Example The comprehensive study of how discrete objects come together through one another and the likelihoods of a diversity of outcomes is acknowledged as combinatory. Further areas of mathematics which are known to be component of discrete mathematics comprise graph theory as well as the theory of computation. In addition, subjects that are related to number theory like that resemblances and recurrence relations are as well renowned as a division of discrete mathematics (Wolfram Research, Inc. , 2010). This paper presents a detailed analysis of the existing one of most famous paradigms of discrete mathematics which is known as ââ¬Å"Mathematical Algorithmsâ⬠. Mathematical Algorithms are presently one of the hot areas in discrete mathematics because of their extensive and effective use in the field of computer and information technology. This paper will provide comprehensive analysis of main features and areas of ââ¬Å"Mathematical Algorithmsâ⬠. The comprehensive study and areas of interest in discrete mathematics generally comprise the analysis and systematic study of algorithms, their efficiencies and implementations in various fields of life. Discrete mathematics is also acknowledged as the language of mathematics used in conjunction with computer science, as well as its significance has increased noticeably in recent few decades (John & Weisstein, 2010). In a broad sense, an algorithm can be thought as instruction (or a set of commands or course of actions) according to that a specific procedure has to take place. We can say that a computer program is an illustration or an accomplishment of an algorithm. This command/instruction has to be organized in such an accurate manner so that it is proficient to be executed by an operator that is capable to comprehend as well as efficiently run the algorithms commands. Several cases of consideration of algorithms are the strategies planned for summing up and finding difference be tween two or more
Tuesday, October 29, 2019
Literacy Autobiography Essay Example for Free
Literacy Autobiography Essay In my younger days, I thought of the term literacy as being able to physically read a written piece of work. I thought the ability to read was when an individual could actually pick up a book, magazine, or even the daily news, and have the ability to understand the collage or words on the page. Most believe that this simple understanding of what words are on the paper is all there is to know about reading. But what most people do not know, is that there is a much deeper meaning behind the word literacy. Along with being able to actually read a piece of literature, there is also having the ability toà determine what that piece actually means or the overall message behind it. This helpful but yet difficult skill to attain is the ability to analyze. Many individuals tend to leave the process of analysis out of the equation when discussing literacy abilities. Some also over look the fact the knowledge gained through reading can be applicable to life in general. Consequently, these talents are not just acquired overnight. Learning to read and understand written words and languages takes time, as there are many more parts to literacy than one would imagine. Although learning to read can prove to be difficult, even for the smartest of children, everyone has to start somewhere. For me, my journey began when I was in kindergarden. My teacher, Mrs. Kroon, had a clever trick to help teach her students how to read. She believed that learning to read starts off with becoming familiar with the alphabet and learning what sounds and noises each letter can make. With the help of her blow up alphabet heroes, she was able to teach my classmates and I how recognize each letter of the alphabet. She also helped the class relate a sound or set of sounds to eachà different letter. At the time, I had no clue what the significance of learning these letters was. But since learning about the letters was taught in an appealing matter, I was able to pick up on it pretty quickly. Every day my fellow students and I were introduced to a new and exciting alpha-hero as Mrs. Kroon called them. We focused the majority of class on learning about the letter, learning how to say it, and of course how to write it. Day in and day out we would learn more and more about these exciting letters and by the time the end of the school year had come, we had seen each letter multiple times. We had also learned how to put these letters together into words. Little did we know this was the start to a long journey in the world of reading. The question I always asked myself is why is this significant to me? What was so important about these letters that I had to spend the majority of my time in school learning about them. Sure, learning about each hero was fun as it appealed to my love for super heroes, but at that young of an age I was not able to comprehend why I was learning about these different symbols. It was not until firstà grade when I actually learned to read that I discovered why so much of my time was spent on these symbols. Every day before class started, our entire school participated in a silent reading period for approximately twenty minutes. During the first few sessions, I was puzzled while I was reading and often found it difficult to understand the puzzle of words in the books. As our teacher worked with us more and more on pronouncing and identifying words, I started to catch on to the material. I would look at a book and for some reason I could understand what the book was saying. It was almost as if the words jumped right off of the page. Shortly after, I was able to pick up many different interesting books and successfully read them to myself. It was like I had acquired a super power; I was able to read! I had developed a skill that most children struggle with for years. I was one of the fortunate ones. Everyday after this realization I became more fascinated with this exciting new discovery. I would read for hours on end just because I could. Its safe to say I was one delighted first grader. And that is where I thought the journey ended. I had learned to read, but the significance of all this reading nonsense had me puzzled. Year in and year out our classroom instructors put a strong emphasis on reading and I could not understand why. It seemed as if the only new benefit to reading was an extended vocabulary or reaching higher reading levels. This may have been the goal at the time being, but it was not until my junior year that I built on my childhood reading foundation. Unfortunately by this age I had lost most of my interest in reading. This made one of my literatureà classes very difficult, as we were asked to read a variety of written works. As a class, we were also asked to ââ¬Å"analyzeâ⬠the readings for deeper meanings. At first I had quite a rough time learning to discover these hidden messages, but as I practiced I became familiar with the process. I came to find that these messages were all around me. For example, after analyzing the childhood story The Hare and the Tortoise, it is evident that the message or moral behind the story is for one to take their time when completing a task as ââ¬Å"slow and steady wins the race. â⬠With each passing day, I became increasingly familiar with this new found talent and analyzing written works was no longer a hassle. Not only could I find the overall message in a piece of literature, but I had also acquired the ability to support my argument with evidence from the written work. This concept of analysis seemed to be the icing on the cake in the concept of literacy, but little did I know I still had more to learn. Although I have come far in my literacy journey, it has taken me almost nineteen years to realize that a reading journey is a life long process. The lessons we learn through the process of reading and analyzing can be used in everyday life, even when one is not actually reading. I have learned that many of the things I do daily involve reading or analyzing whether I know it or not. Simple gifts such as having the ability to tell what mood a friend is in, or whether or not an outfit is appropriate for school also relate to the acts of reading and analyzing. Likewise, when a person can tell what type of a mood another person is in because of their body language, that is in fact reading. The individual isà analyzing the others behavior in order to discover the mood of their colleague. The same concept can be applied to making choices. Within each different decision an individual makes they weigh out the positives and the negatives of each option and then choose what to do. Some may call it decision making, but it is also a type of analysis. Each option is carefully analyzed before a decision is made which proves that humans including myself use these types of strategies everyday. Just like analyzing a piece of work, guessing another persons mood or feelings takes practice. The more an individual takes the time to analyze a situation or person, the easier the process becomes. It is very interesting to truly see how many valuable lessons and skills can be acquired through reading. Even though my journey in the world of literacy is not quite over, I have learned a great deal of information about myself through reading. From kindergarden to high school I have been able to overcome each step on the path to reading success which has lead to a great deal of knowledge. Along with learning to read nearly any book that is thrown my way, I have also learned how to find deeperà meanings in literature and in life. Many of concepts in which I choose to believe in such as ââ¬Å"being yourselfâ⬠and ââ¬Å"never giving upâ⬠have been discovered through reading. I know I have much more to learn about the world of literature and reading and I cannot wait to see what lies on the road ahead. I hope that throughout my college days I am able to make many more discoveries about myself and the world around me. I truly believe that these types of discoveries and lessons shape us into who we are. Without successfully learning to read and analyze, I would not be the person who I am today.
Sunday, October 27, 2019
Vodafone Planning Principles in competition
Vodafone Planning Principles in competition Introduction Marketing is the core of all business. To outperform the competition requires solid marketing knowledge and precision in marketing decision making. To market companys product or service, it is necessary to get positioning, positioning of its products and services depend on the formulation and implementation of intelligent and aggressive strategic marketing plans. As this assignment requires choosing an organization which fosters strategic marketing management process; therefore, Vodafone: multi-national UK-based mobile network operating company has been picked. About Vodafone The Vodafone group is a mobile network operator headquartered inà Newbury, England. They made their first phone call just minutes afterà midnightà on the 1stà of January in 1985. In 1987 it was already recognized as the largest mobile network in the world. Today it is the biggest telecommunications network provider in the world by turnover and has a market value of about one hundred billion pounds. It is a FTSE 100 company and is ranked 3rd overall just behind Royal Dutch Shell and the BP group.à Vodafone currently has equity interests in twenty-five countries and has other partner networks with assets in another forty one countries. It is the second largest mobile telecom group in the world behind China Mobile and has more than ten million customers in theà United Kingdom,à Germany,à India,à Italy,à Spain,à Turkey,à Egyptà and theà United States. At a glance of Vodafone [1]: Type : Public Limited Company (PLC) Industry : Telecommunications Founded : 1984 Headquarters : Newbury, United Kingdom Area Served : World wide Website : www.vodafone.com [1] en.wikipedia.org/wiki/Vodafone Task 1 1.1 Vodafone Marketing Planning Principles Vodafone market planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives.à à A detailed marketing plan is needed for each business, product, or brand. It has external and internal environments where plenty of strategic elements are involved. As part of marketing planning principles, macro-environmental scanning will be conducted by analyzing significant macro factors affecting the telecom industry while Porters five forces, SWOT analysis (SW-for micro environment and OT-for macro environment) will be utilized to assess the micro-environment surrounding telecom industry. Later, BCG matrix as part of Vodafone portfolio analysis technique is explained. 1.2 Vodafone Plan Development Using Analytical Tools and Techniques 1.2.1 Macro-environmental factors: To analyze the macro factors of the Vodafone Plc, PESTEL analysis, SWOT analysis (OT is detailed in macro environmental issues) is described. 1) PESTEL analysis: Political factors: Regulations- Mobile phones licenses are tightly controlled and are very expensive. In some cases tight measures are implemented by the government in order to decrease mobile phone use for children because of health issues. Infrastructure- To build up an infrastructure to support the network usually requires permission from the government and other regulative bodies. Economical factors: The recession has decreased the amount of money customers are willing to spend, therefore there is a price war between leading network providers to drive down costs of calls and SMS to attract more customers. Cost of licensing-When the technology of 3G was introduced there was a bid war amongst leading companies which ended up in a high expenditure of acquiring this technology Social-cultural factors: Fashion- In some countries especially inà Europeà it is in fashion to have a mobile phone. The market inà Europeà is so big that all kind of phones are being sold here. These days in iphone by Apple has conquered most of the market and is the best seller in theà UKà at the moment Demographics- Mobile phones tend to be used by the younger members of society.à In a country where the population is ageing, which is the trend across the EU, the demographics may shift to a more aged population who may have less use for mobile phones. Technological factors: 3G (3rd Generation)-The introduction of this technology have helped Vodafone to interact easier through their phone and they were able to offer services like the mobile internet or famous social networking sites like facebook directly accessible from the phone. It is now much easier for business customers to arrange meetings and get information directly on their handset. Vodafone also offers tailored price plans for business customers. GPS (Global Positioning System) It is now possible to get a navigation programme on the handset where supported. Instead of buying expensive navigation systems the customer can pay one off fees and use the system The technology advancement in general will help Vodafone to cope with the growing competition all over the worked and will help them increase to attract more customers through these technology developments. Environmental factors: Vodafone have established a recycling programme for phones in order to help the environment and recycle and reuse the materials used in the handset. They give incentives in terms of money to customers hand in their old phone in exchange for a new one. Legal factors: Law-There are some laws which regulates the actions of business e.g. The Sales of Goods Act 1974 stating all products must be fit for the purpose they are intended. A mobile phone must therefore work. These laws are created to regulate particular industries for example the ban on mobile phones while driving. This significantly increased the sale of headsets. 2) SWOT analysis (PART 1: OT under macro environment): Opportunities: Emerging markets offers Vodafone to introduce their unique services to that market where the market has high rate of growth. They can become a market leader as they are the biggest network provider in the world and their experience could help them to achieve that. At the moment having a mobile phone is a necessity for many people and the trend is going up that people are tending to have one or more mobile phone. This could turn out positive for Vodafone as the market tends to increase by size and volume in terms of sales. Threats: Competition could be a threat organization as more different products and services are being offered by different companies. The iphone for example introduced by o2 has significantly decreased sales of other products and services because they reserved the rights to be the only distributor of the phone in theà UK. The effect of rules and regulation by the government can also be threat to Vodafone as they could ban or set price regulations. 3) Marketing Mix Vodafone uses its advantage as being a large global organization and implements differentiation and cost leadership strategy as they benefit from economies of scale. This allows them to have a competitive advantage and adding more value to their range of services to the customers compared to other competitors. The marketing mix consists of many different factors, which are grouped together into four main categories: product, place, price and promotion. Product-Vodafone offers different type of products to different type of customers and so can segment their market in this field. Since the introduction of 3g services they can offer more than just voice calls and messaging. Customers are able to access he internet and other multimedia applications on the go and can benefit from the unique quality of Vodafone. Price-They are able to offer different services for different customers like pre pay phones, pay monthly contracts and business solutions for businesses. This allows them structure their pricing method towards different needs of the customer. Place-Vodafone operates mainly through their retail stores all over theà UK. There are over 300 retail outlets and they also offer their services through independent retailer like Phones4u. Promotion-Vodafone affectively operated a solid marketing structure which includes advertising poster on the street, TV campaign and also use famous celebrities like David Beckham to advertise their products. This ensures people are aware of their special offers and discounts. 1.2.2 Micro environmental factors: 1) SWOT analysis (PART 2: SW under micro-environment): Strengths: The size of the organization plays an important factor when we are speaking about their strength. Their global presence and network makes it easy for them to be more competitive even on a global scale. Vodafone is reputable company and there are famous for being the best in their field. Their brand image is very important when it comes to sales and increasing them. Standardized customer relation management is also a feature of Vodafone.à The company is developing a group-wide standard in customer relation management to ensure an awareness of its customer base and their preferences in order to help the efficient sales of its new services and products. Weaknesses: Developing new technologies can turn out very expensive. If these technologies fail to succeed in the market this could end up in a huge loss which would be hard to recover from. They can not introduce new technologies where it is not possible this could be because they are facing the legal issues within that country. 2) Porters 5 forces: By using the five forces model of completion, competitor analysis network à by understanding how the threat of new entrants, the bargaining power of buyers, the bargaining power of suppliers, the threat of substitutes and the competition of other firms and how they affect the company directly. Competitive Rivalry à The competition in theà UKà for example is very much intense and big organizations like O2,à Orange and T-Mobile have a significant impact on revenues. Bargaining power of buyers à Customers have the choice of many different type of product at present time due to the high level of competition. In terms of different type of packages and different prices people tend to go for other companies and buy their product. Bargaining power of suppliers à Vodafone is one of the largest network providers in the world and therefore they are able to use the benefits of economies of scale and reduce their production costs. This allows them to increase their profit margin compared to other companies and offer better a price to value ratio to the customer. Threat of substitutes à There is a low risk of substitutes for Vodafone as they have established a good brand image. Apart from that as they benefit from economies of scale they can sell their services at the same price like their competitors. Threat of new entry à As there is no threat for other companies to enter the market because of rules and regulations and the high cost of licenses required to operate a network, Vodafone has to continue being efficient and reducing costs in order to price match their competitors. Threat of New Entrants Bargaining Power of Buyer Competitive Rivalry (O2, Orange, 3 mobile, T-mobile) Bargaining Power of Supplier Threat of Substitution Figure 01: Porters 5 forces of Vodafone [Figure Source: http://www.mindtools.com/pages/article/newTMC_08.htm] 4) BCG (Boston Consultancy Group) Matrix: Question Marks Stars Dogs Cash Cows High Market Growth Low Low Market Share High Figure 02: BCG (Boston Consultancy Group) Matrix of Vodafone à Stars à The star of their products which is the main product they offer are the monthly contracts they offer as these are very popular amongst the customers. Cash Cows à this is the product which generated revenue but is at a stage where it does not grow. The messaging services they offer generate good revenue for them and as there is no opportunity to expand as that this service is their cash cow. Dogs à This would be their analogue services as they do not really generate revenue because of too much competition. Question Mark à This product is the one with high growth potential and low market share. In this case it would be the 3g serves they offer. As there are other companies offering the same services it hard to gain a higher market share. Task 2 2.1 Strategic Marketing Options for Vodafone Marketing strategy always considers options where it can be applied. In Vodafone, the following marketing strategy options can be applied though both matrixes have got some advantages and disadvantages as well. General Electric/McKinsey (GE) Matrix: GE matrix is used mainly for market attractiveness. The examination and understanding of market attractiveness is very important in determining investment strategies in a country of operation. The advantages and disadvantages of GE matrix are given as follows: Advantages Disadvantages Thorough competitive analysis provides a basis for ranking relative strength of business units in their particular environment. Formal definition of components is not clear or simple (Johnson 1985) Analysis is difficult for outsiders to reproduce (Johnson 1985). Determinants: Industry attractiveness and business strength. The following figure shows the concept of GE Matrix. Figure 03: General Electric (GE) Matrix [Source: www.marketingteacher.com] Shell Directional Policy Matrix [2]: The Shell Directional Policy Matrix is another refinement upon the Boston Matrix. Along the horizontal axis areà prospects for business sector profitability, and along the vertical axis is a companys competitive capability. As with the GE Business Screen the location of a Strategic Business Unit (SBU) in any cell of the matrix implies different strategic decisions. However decisions often span options and in practice theà zonesà are an irregular shape and do not tend to be accommodated by box shapes. Instead they blend into each other. Advantages Disadvantages Considers both, international capabilities of the company and competitors capabilities. Market Position is restricted to market share.à à Assumes countries have stable political, social and economic environments.à à Only regulatory aspects pertaining to Shells products have been addressed. Determinants: Companys competitive capabilities and business sector prospects. The following figure shows the concept of SDP Matrix. Figure 04: Shell Directional Policy Matrix [Source: www.marketingteacher.com] [2] http://www.mbaknol.com/strategic-management/shells-directional-policy-matrix/ 2.2 Evaluation of Marketing Strategy Options for Vodafone Despite the shortcomings of previous studies and models, attempts at reaching an understandable model for determining international business strategy have been ongoing.à à The marketing literature presents a number of models designed to guide managers in making strategic investment decisions for Vodafone Plc.à à Included in that number are matrix approaches such as Shell directional policy matrix (Robinson, Hichens, and Wade 1978), and GE/McKinsey (Taylor 1976).à à These models have each provided a unique contribution to the strategy process but each also has distinct disadvantages.à à The advantages and disadvantages of each are, particularly; concerned for firms interested in the international market is the fact that these models do not take into consideration the international environment.à à Many multinational companies still confront the problem of integrating environmental assessments into decision making in a systematic and objective manner.à à The task facing them is how to translate recognition of the business situation into action.à Previous models are limited in their generalizability across different types of industries and actual environments worldwide. Task 3 3.1 Current Changes in the Marketing Environment in Vodafone As Vodafone is a worldwide company and operates in over 27 different countries, this makes analyzing the external environment fairly difficult using a PEST analysis. The PEST analysis in this report is mainly directed at Vodafones UK external environment in terms of strategic marketing management policy. PEST analysis: Political Political factors can have a direct impact on the way businesses operate. Decisions made by the governmentà affectà our everyday lives and can come in the form of policy or legislation.à The Governments introduction of a statutory minimum wage affects all businesses, as do consumer, Health Safety laws and so on. The current increase in global petrol prices is having a profound impact on major economies, it is estimated that à £200bn has been added to the global fuel bill since the price increases started. Another political factor is OFTEL, the telecommunications regulator in the UK whose purpose is to ensure phone companies, meet their obligations under telecoms and competition laws and regulations.à à The UK government regulates this industry through OFTEL.à Economical All businesses are affected by economical factors nationwide and globally. Interest rate policy and fiscal policy will have to be set accordingly. Within the UK the climate of the economy dictates how consumer may behave within society. Whether an economy is in a boom, recession or recovery willà also affect consumer confidence and activities. Economies internationally also have an impact on UK businesses, cheaper labor abroad affects the competitiveness of UK products nationally and globally.à An increase in interest rates in the USA will influence the share price of UK stocks. A truly global player like Vodafone has to be aware of economic conditions across all borders and ensure they employ strategies and tactics that guard their business and marketing investment. Socio-cultural: Within society forces such as family, friends, and media affect our attitude, interest and opinions. These forces shape who we are as people and the way we behave and what we ultimately purchase. The end users of wireless products are becoming increasingly aware of quality and expect a product that is reliable during use. GSM has been an unqualified success because it works, offers definite advantages over first generation and is at a price where everyone can access the technology. One problem that has been apparent over recent years is the high market exposure given to new features and technologies, which are not well proven and tested before launch. WAP was a prime example of this. A great deal of effort has been injected into WAP to make sure the early teething problems have been overcome, but the public can sometimes demonstrate memory akin to an elephant and changing opinions is a much harder marketing nut to crack. The market expectation for Bluetoothà ¢Ã¢â¬Å¾Ã ¢ and 3G has been raised considerably so now we are at a critical stage in fulfilling the advertised dream. Technological Advanced technology is changing the way businesses operate. The Internet is having a profound impact on the marketing mix strategy of organizations. Consumers can now shop 24 hours a day, comfortably from their homes. Vodafone has been using the Internet for advertising like a lot of other organizations trying to sell their business. There is renewed interest by many governments to encourage investment in research and development and to develop technology that will give their country the competitive edge. The one-stop-shop customer need, and the manufacturers success in integrating cellular, cordless and internet user applications into a single unit has meant that a wireless test company has to consider all major technologies and review each for their commercial benefits. In some instances some technology advancements will not create a profitable business in isolation. Vodafone has introduced new technology such as Vodafone Live, and now the introduction of the new 3G mobile phones means Vodafone will implement the new technology into their system to bring the service to the customer. 3.2 Analyzing Vodafones Potential Responses to the Strategic Marketing Changes 3.3 Recommendation and Conclusion
Friday, October 25, 2019
Use of Symbols and Symbolism in To Kill A Mockingbird :: Kill Mockingbird essays
Use of Symbolism in To Kill a Mockingbird Harper Lee effectively uses symbolism throughout her novel, To Kill a Mockingbird. Jem's nursing of the flowers denotes his courage that he nurses in order to be able to tolerate people's criticism of his family, especially of his father. He was forced to take care of the camellias just as he was forced to live with anger, disappointment and a big question mark in his young heart about the workings of grownups. Atticus "never thought Jem'd be the one to lose his head over this" (110). However Jem did 'lose his head' and now he has to find the strength to control his emotions in order to avoid further trouble. This courage was hard to find but Mrs Dubose did find it and managed to break herself from morphine before she died. She also made sure Jem got a white waxy camellia she had prepared for him. The waxy camellia, the "Snow-on-the-Mountain" (118), could be a symbol of courage. She built her spirit little by little just as when she was making the camellia. Now it is Jem's turn to build his own. And as the camellia out of wax does not wither, in the same sense, tru e courage may be hard to build, but once built, it never leaves you. Mrs Dubose's camellias are not the only flowers that can be seen symbolically. Mayella Ewell's red geraniums also carry an important meaning. During the Robinson trial the reader is given a description of the Ewell's property. It is said that "what passed for a fence was bits of tree-limbs , broomsticks and tool shafts, all tipped with rusty hammer-heads, snaggle-toothed rake heads, shovels, axes and grubbing hoes, held on with pieces of barbed wire. Enclosed by this barricade was a dirty yard containing the remains of a Model-T Ford, a discarded dentist's chair, an ancient ice-box, plus lesser items: old shoes, worn-out table radios, picture frames, and fruit jars, under which scrawny orange chickens pecked hopefully". (176) The general picture one acquires by this description is that of a small dump, a place totally disordered like the "playhouse of an insane child" (176). One can easily guess the rank of the people who lived there. However, "against the fence, in a lin e, were six chipped-enamel slop jars holding brilliant red geraniums, cared for as tenderly as if they belonged to Miss Maudie Atkinson.
Thursday, October 24, 2019
Econ 1a
Student: 1. Which of the following is a distinguishing feature of a command system? A. private ownership of all capital. B. central planning. C. heavy reliance on markets. D. wide-spread dispersion of economic power. 2. Which of the following is a distinguishing feature of a market system? A. public ownership of all capital. B. central planning. C. wide-spread private ownership of capital. D. a circular flow of goods, resources, and money. 3. Examples of command economies are: A. The United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea. 4. Of the following countries, which one best exhibits the characteristics of a market economy? A. Canada. B. Cuba. C. North Korea. D. China. 5. The French term ââ¬Å"laissez-faireâ⬠means: A. ââ¬Å"there is no free lunch. â⬠B. ââ¬Å"let it be. â⬠C. ââ¬Å"circular flow. â⬠D. ââ¬Å"public ownership. â⬠6. An economic system: A. requires a grouping of private markets linked to one another. B. is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem. C. requires some sort of centralized authority (such as government) to oordinate economic activity. D. is a plan or scheme that allows a firm to make money at some other firm's expense. 7. The term laissez-faire suggests that: A. land and other natural resources should be privately owned, but capital should be publicly owned. B. land and other natural resources should be publicly owned, but capital should be privately owned. C. government should not interfere with the operation of the economy. D. government action is necessary if the economy is to achieve full employment and full production. 8. Economic systems differ according to which two main characteristics? A. Who owns the factors of production, and the methods used to coordinate economic activity. B. The technology used in production, and the quantity and quality of natural resources. C. How goods are produced, and who gets them. D. The political system in place, and the degree of scarcity facing the economy. 9. Command systems are also known as: A. market systems. B. pure capitalism. C. laissez-faire capitalism. D. communism. 10. A fundamental difference between the command system and the market system is that, in command systems: A. the division of output is decided by central planning rather than by individuals operating freely through markets. B. all economic decisions are made by the government, whereas there is no government in a market system. C. scarcity does not exist, whereas it does in a market system. D. money is not used, whereas it is in a market system. 11. Which of the following is not a characteristic of the market system? A. private property. B. freedom of enterprise. C. government ownership of major industries. D. competition in product and resource markets. 12. Which of the following is a fundamental characteristic of the market system? A. property rights. B. central planning by government. C. unselfish behavior. D. government-set wages and prices. 13. Property rights are important because they: A. ensure an equal distribution of income. B. encourage cooperation by improving the chances of mutually agreeable transactions. C. guarantee that any exchange will make all parties better off than prior to the exchange. D. allow the government to control how resources are allocated. 14. Private property: A. discourages cooperation because people don't want to part with what they own. B. discourages innovation, as people are often afraid to risk losing their own property. C. encourages owners to maintain or improve their property, so as to preserve or enhance value. D. does everything indicated by the other answers. 15. Copyrights and trademarks are examples of: A. capital goods. B. human capital. C. property rights. D. public goods. 16. The regulatory mechanism of the market system is: A. self-interest. B. private property. C. competition. D. specialization. 17. Broadly defined, competition involves: A. private property and freedom of expression. B. independently acting buyers and sellers and freedom to enter or leave markets. C. increasing opportunity costs and diminishing marginal utility. D. capital goods and division of labor. 18. Competition means that: A. sellers can manipulate market price by causing product scarcities. B. there are independently-acting buyers and sellers in each market. C. a product can be purchased at a number of different prices. D. there is more than one seller in a market. 19. The division of labor means that: A. labor markets are geographically segmented. B. unskilled workers outnumber skilled workers. C. workers specialize in various production tasks. D. each worker performs a large number of tasks. 20. Specialization in production is important primarily because it: A. results in greater total output. B. llows society to avoid the coincidence-of-wants problem. C. allows society to trade by barter. D. allows society to have fewer capital goods. 21. Specialization-the division of labor-enhances productivity and efficiency by: A. allowing workers to take advantage of existing differences in their abilities and skills. B. avoiding the time loss involved in shifting from one production task to another. C. allowing workers to develop skills by working on one, or a limited number, of tasks. D. all of the means identified in the other answers. 22. Specialization in production is economically beneficial primarily because it: A. llows everyone to have a job which they like. B. permits the production of a larger output with fixed amounts of resources. C. facilitates trade by bartering. D. guarantees full employment. 23. On the basis of the above information it can be said that: A. no coincidence of wants exists between any two states. B. a coincidence of wants exists between Michigan and Washington. C. a coincidence of wants exists between Texas and Washington. D. a coincidence of wants exists between Michigan and Texas. 24. On the basis of the above information and assuming trade occurs between the three states we can expect: A. Washington to exchange apples with Texas and receive money in return. B. Washington to exchange apples with Michigan and receive money in return. C. Texas to exchange lettuce with Michigan and receive autos in return. D. Texas to trade lettuce directly for Washington apples. 25. Given the above information and assuming trade occurs between the three states we can expect: A. that there is no means by which Michigan can obtain lettuce while specializing in the production of autos. B. that money will not be needed to accomplish the desired exchanges. C. money to flow counterclockwise from Michigan to Texas to Washington. D. money to flow clockwise from Michigan to Washington to Texas. 26. Barter: A. is the major means of exchange in centrally planned economies. B. accounts for over 30 percent of the dollar volume of all exchange in the U. S. economy. C. entails the exchange of goods for goods. D. is used to circumvent the problem of a lack of coincidence of wants among potential buyers and sellers. 27. The ââ¬Å"coincidence of wantsâ⬠problem associated with barter refers to the fact that: A. for exchange to occur each seller must have a product that some buyer wants. B. money must be used as a medium of exchange or trade will never occur. C. specialization is restricted by the size or scope of a market. D. buyers in resource markets and sellers in product markets can never engage in exchange. 28. The use of money contributes to economic efficiency because: A. governmental direction of the production and distribution of output can be avoided by using money. B. roundabout production could not occur without the availability of money. C. it is necessary for the creation of capital goods. D. it promotes specialization by overcoming the problems with barter. 29. The presence of market failures implies that: A. oney is not an effective tool for exchange in a market system. B. there is an active role for government, even in a market system. C. individuals and firms should strive to be self-sufficient rather than specialize. D. command systems are superior to market systems in the allocation of resources. 30. Which of the following characteristics is least unique to a market system? A. private ownership of property resources B. competition among buyers and sellers pursuing monetary returns C. the widespread use of money D. freedom of enterprise and choice 31. Which of the following is one of the Five Fundamental Questions? A. Which products will be in scarce supply and which in excess supply? B. Who should appoint the head of the central bank? C. How much should society save? D. What goods and services will be produced? 32. If competitive industry Z is making substantial economic profit, output will: A. fall in industry Z, and firms will likely leave the market. B. fall in all industries except industry Z. C. expand in industry Z, as more resources will move to that industry. D. expand in industry Z, but no new firms will enter the market. 33. From society's point of view the economic function of profits and losses is to: A. romote the equal distribution of real assets and wealth. B. achieve full employment and price level stability. C. contribute to a more equal distribution of income. D. reallocate resources from less desired to more desired uses. 34. In a market economy a significant change in consumers' desire for product X will: A. alter the profits or losses received by suppliers of product X. B. cause a reallocation of scarce resources. C. cause some industries to expand and others to contract. D. do all of these. 35. Economic profits in an industry suggest the industry: A. can earn more profits by increasing product price. B. should be larger to better satisfy consumers' desire for the product. C. has excess production capacity. D. is the size that consumers want it to be. 36. Economic profits and losses: A. are both considered by economists to be a part of production costs. B. are essential to the reallocation of resources from less desired to more desired goods. C. have no influence on the composition of domestic output. D. equalize the distribution of income in the long run. 37. If consumer desire for product X increases, all of the following will occur except: A. an increase in the profits of industry X. B. n increase in the quantity of resources employed by industry X. C. an increase in the output of industry X. D. a decrease in the quantity of resources employed in industry X. 38. An increase in consumer desire for strawberries is most likely to: A. increase the number of strawberry pickers needed by farmers. B. reduce the supply of strawberries. C. reduce the number of people willing to pick strawberries. D. reduce the need for strawberry pickers. 39. If competitive industry Y is incurring substantial losses, output will: A. expand as resources move toward industry Y. B. contract as resources move toward industry Y. C. contract as resources move away from industry Y. D. expand as resources move away from industry Y. 40. The economic function of profits and losses is to: A. bring about a more equal distribution of income. B. signal that resources should be reallocated. C. eliminate small firms and reduce competition. D. tell government which industries need to be subsidized. 41. If a competitive industry is neither expanding nor contracting, we would expect: A. total revenue to be zero. B. economic profits to be zero. C. total opportunity cost to be zero. D. more resources to flow to that industry. 42. The competitive market system: A . encourages innovation because government provides tax breaks and subsidies to those who develop new products or new productive techniques. B. discourages innovation because it is difficult to acquire additional capital in the form of new machinery and equipment. C. discourages innovation because firms want to get all the profits possible from existing machinery and equipment. D. encourages innovation because successful innovators are rewarded with economic profits. 43. In a market economy the distribution of output will be determined primarily by: A. consumer needs and preferences. B. the quantities and prices of the resources that households supply. C. government regulations that provide a minimum income for all. D. a social consensus as to which distribution of income is most equitable. 44. The most efficient combination of resources in producing a given output is the combination that: A. comes closest to using the same quantities of land, labor, capital, and entrepreneurial ability. B. can be obtained for the smallest money outlay. C. uses the smallest total quantity of all resources. D. conserves most on the use of labor. 45. Firms are motivated to minimize production costs because: A. t is the most environmentally friendly way to produce goods. B. least-cost production techniques use the smallest total quantity of resources. C. competitive pressures in the market will drive out higher-cost producers. D. the government provides tax credits and subsidies to low-cost producers. Answer the next question(s) using the following data which show all available techniques for producing 20 units of a particular commodity: 46. Refer to the above data. In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s): A. # 1. B. #2 and # 4. C. # 3. D. #1 and # 3. 47. Refer to the above data. Assuming that the firm is motivated by self-interest and that the 20 units which can be produced with each technique can be sold for $2 per unit, the firm will: A. realize an economic profit of $ 10. B. realize an economic profit of $ 4. C. not earn any economic profit. D. shutdown rather than incur a loss by producing. 48. Refer to the above data. If a new production technique is developed that enables a firm to produce 20 units of output with 3 units of land, 3 of labor, 1 of capital, and 2 of entrepreneurial ability, this technique would: A. not be adopted because, although it reduces production costs, it does not increase profit. B. be adopted because it would lower production costs and increase economic profit. C. not be adopted because it entails higher production costs than other available techniques. D. be adopted, even though economic profits would be reduced slightly. Answer the next question(s) on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively. 49. Refer to the above information. Which technique is economically most efficient in producing A? A. I B. II C. III D. IV 50. Refer to the above information. If the price of product A is $0. 50, the firm will realize: A. an economic profit of $ 4. B. an economic profit of $ 2. C. an economic profit of $ 6. D. a loss of $ 3. 51. In a competitive market economy firms select the least-cost production technique because: A. such choices will result in full employment of available resources. B. to do so will maximize the firms' profits. C. this will prevent new firms from entering the industry. D. ââ¬Å"dollar votingâ⬠by consumers mandates such a choice. 52. The market system's answer to the fundamental question ââ¬Å"What will be produced? â⬠is essentially: A. ââ¬Å"Goods and services that are profitable. â⬠B. ââ¬Å"Low cost goods and services. â⬠C. ââ¬Å"Goods and service that can be produced using large amounts of capital. â⬠D. ââ¬Å"Goods and services that possess lasting value. â⬠53. The market system's answer to the fundamental question ââ¬Å"How will the goods and services be produced? â⬠is essentially: A. ââ¬Å"With as much machinery as possible. â⬠B. ââ¬Å"Using the latest technology. â⬠C. ââ¬Å"By exploiting labor. D. ââ¬Å"Using the least-cost production techniques. â⬠54. The market system's answer to the fundamental question ââ¬Å"Who will get the goods and services? â⬠is essentially: A. ââ¬Å"Those willing and able to pay for them. â⬠B. ââ¬Å"Those who physically produced them. â⬠C. ââ¬Å"Those who most need them. â⬠D. ââ¬Å"Those who get utility from them. â⬠55. The market system's answer to the fundamental question ââ¬Å"How will the system accommodate change? â⬠is essentially: A. ââ¬Å"Through government leadership and direction. â⬠B. ââ¬Å"Through the guiding function of prices and the incentive function of profits. â⬠C. Through training and retraining programs. â⬠D. ââ¬Å"Through trial and error. â⬠56. The market system's answer to the fundamental question ââ¬Å"How will the system promote progress? â⬠is essentially: A. ââ¬Å"Through government funded research programs. â⬠B. ââ¬Å"Through redistribution of income to promote greater equality. â⬠C. ââ¬Å"Through training and retraining programs. â⬠D. ââ¬Å"Through the profit potential that encourages development of new technology. â⬠57. The advent of DVDs has virtually demolished the market for videocassettes. This is an example of: A. creative destruction. B. derived demand. C. apital accumulation. D. the difference between normal and economic profits. 58. ââ¬Å"Consumer sovereigntyâ⬠refers to the: A. fact that resource prices are higher than product prices in capitalistic economies. B. idea that the pursuit of self-interest is in the public interest. C. idea that the decisions of producers must ultimately conform to consumer demands. D. fact that a Federal agency exists to protect consumers from harmful and defective products. 59. The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy. This statement best describes the concept of: A. derived demand. B. consumer sovereignty. C. the invisible hand. D. market failure. 60. Which of the following is not one of the five fundamental questions? A. What prices will be charged for goods and services? B. Who will get the goods and services? C. What goods and services will be produced? D. How will the system promote progress? 61. ââ¬Å"Consumer sovereigntyâ⬠means that: A. buyers can dictate the prices at which goods and services will be purchased. B. advertising is ineffective because consumers already know what they want. C. uyers control the quality of goods and services through regulatory agencies. D. buyers determine what will be produced based on their ââ¬Å"dollar votesâ⬠for the goods and services offered by sellers. 62. Which of the following best describes the invisible-hand concept? A. The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. B. The non-substitutability of resources creates a conflict between private and public interests and calls for government intervention. C. The market system is the best system for overcoming the scarce resources-unlimited wants problem. D. Central direction by the government will improve resource allocation in a capitalistic economy. 63. The invisible hand refers to the: A. fact that the U. S. tax system redistributes income from rich to poor. B. notion that, under competition, decisions motivated by self-interest promote the social interest. C. tendency of monopolistic sellers to raise prices above competitive levels. D. fact that government controls the functioning of the market system. 64. The invisible hand concept suggests that: A. market failures imply the need for a national economic plan. B. ig businesses are inherently more efficient than small businesses. C. the competitiveness of a capitalistic market economy invariably diminishes over time. D. assuming competition, private and public interests will coincide. 65. Two major virtues of the market system are that it: A. allocates resources efficiently and allows economic freedom. B. results in an equitable personal distribution of income and always maintains full employment. C. results in price level stability and a fair personal distribution of income. D. eliminates discrimination and minimizes environmental pollution. 66. The market system: A. produces considerable inefficiency in the use of scarce resources. B. effectively harnesses the incentives of workers and entrepreneurs. C. is not consistent with freedom of choice in the long run. D. has slowly lost ground to emerging command systems. 67. According to the concept of the ââ¬Å"invisible hand,â⬠if Susie opens and operates a profitable childcare center, then: A. government should regulate the business to ensure quality. B. the profit Susie earns indicates that she is overcharging for her services. C. she has served society's interests by providing a desired good or service. D. his demonstrates that consumer sovereignty is not present in this market. 68. The invisible hand promotes society's interests because: A. individuals pursuing their self-interest will try to produce goods and services that people in society want and are willing to purchase. B. individuals will produce goods for others out of concern for their fellow human beings. C. it makes sure that everyone wins from competition in the market. D. government regulation pushes business into producing the right mix of goods and services. 69. The coordination problem in the centrally planned economies refers to the idea that: A. lanners had to direct required inputs to each enterprise. B. the price level and the level of employment were inversely related. C. the immediate effect of more investment was less consumption. D. exports had to be equal to imports for a central plan to work. 70. ââ¬Å"Under central planning, some group has to decide how to get the necessary inputs produced in the right amounts and delivered to the right places at the right time. This is a nearly impossible task without markets and profits. â⬠This quotation best identifies the: A. incentive problem under central planning. B. oordination problem under central planning. C. self-sufficiency dilemma under communism. D. resource over-commitment problem under communism. 71. ââ¬Å"Because the outputs of many industries are the inputs to other industries, the failure of any single industry to fulfill the output quantities specified in the central plan caused a chain-reaction of adverse repercussions on production. â⬠This quotation best identifies the: A. incentive problem under central planning. B. self-sufficiency dilemma under communism. C. resource over-commitment problem under communism. D. coordination problem under central planning. 72. The incentive problem under communist central planning refers to the idea that: A. planners had to direct required inputs to each enterprise. B . workers, managers, and entrepreneurs could not personally gain by responding to shortages or surpluses or by introducing new and improved products. C. the immediate effect of more investment was less consumption. D. exports had to be equal to imports for a central plan to work. 73. Suppose that an individual sees a tremendous opportunity to produce and sell a new product, but dismisses the idea because there is no way to exploit this opportunity for personal gain. This situation best identifies the: A. coordination problem under communist central planning. B. self-sufficiency dilemma under communism. C. asymmetric information problem under communism. D. incentive problem under communist central planning. 74. Innovation lagged in the centrally planned economies because: A. there was too much domestic business competition. B. there was too much competition from foreign firms. C. enterprises resisted innovation in fear that their production targets would be raised. D. exports had to equal imports for the plan to work. 75. The fact that the major indicator of enterprise success in the Soviet Union and pre-reform China was the quantity of output implied that: A. product quality was neglected. B. production costs were minimized. C. product-mix met consumer needs. D. technological advance was too rapid. 76. Enterprise managers and workers in the Soviet Union often resisted innovations in production methods because: A. production targets were often increased when innovation occurred. B. there was a chronic shortage of computers. C. workers could not be reallocated geographically. D. innovations ordinarily increased dependence on world markets. 77. If products were in short or surplus supply in the Soviet Union: A. price and profit signals eliminated those shortages and surpluses. B. price and profit signals intensified those shortages and surpluses. C. producers would not react because no price or profit signals occurred. D. the planners would immediately adjust production to achieve equilibrium. 78. In what type of business do the owners bear no personal financial responsibility for the company's debts and obligations? A. Partnerships. B. Corporations. C. Sole proprietorships. D. In all of the businesses listed in the other answers. 79. The simple circular flow model shows that: A. households are on the buying side of both product and resource markets. B. businesses are on the selling side of both product and resource markets. C. households are on the selling side of the resource market and on the buying side of the product market. D. businesses are on the buying side of the product market and on the selling side of the resource market. 80. The two basic markets shown by the simple circular flow model are: A. capital goods and consumer goods. B. free and controlled. C. product and resource. D. household and business. 81. In the resource market: A. businesses borrow financial capital from households. B. businesses sell services to households. C. households sell resources to businesses. D. firms sell raw materials to households. 82. In the simple circular flow model: A. households are buyers of resources. B. businesses are sellers of final products. C. households are sellers of final products. D. there are real flows of goods, services, and resources, but not money flows. 83. Refer to the above diagram. Flow (1) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 84. Refer to the above diagram. Flow (2) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 85. Refer to the above diagram. Flow (3) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 86. Refer to the above diagram. Flow (4) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. oods and services. D. consumer expenditures. 87. In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market. A. product; financial B. resource; product C. product; resource D. capital; product 88. In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market. A. product; financial B. resource; product C. product; resource D. capital; product 89. Households and businesses are: A. both buyers in the resource market. B. both sellers in the product market. C. ellers in the resource and product markets respectively. D. sellers in the product and resource markets respectively. 90. Refer to the above diagram. Arrows (1) and (2) represent: A. goods and resources respectively. B. money incomes and output respectively. C. output and money incomes respectively. D. resources and goods respectively. 91. Refer to the above diagram. Arrows (3) and (4) represent: A. goods and services respectively. B. incomes and consumer expenditures respectively. C. resources and goods respectively. D. consumer expenditures and income respectively. 92. Refer to the above diagram. Arrows (1) and (3) are associated with: A. the money market. B. the resource market. C. the product market. D. international trade. 93. Which of the following best illustrates the circular flow model in action? A. Bobbie goes to work and builds cars, and uses the income she receives to buy food at the grocery store. B. Evan buys a new couch; the owner of the furniture store uses some of the money from the sale to pay her supplier, and uses the rest to take her family out to dinner. C. Boeing experiences a surge in orders for new airplanes, prompting the company to hire more workers. D. All of these answers illustrate the workings of the circular flow model. 94. (Consider This) In 1975, McDonald's introduced its Egg McMuffin breakfast sandwich, which remains popular and profitable today. This longevity illustrates the idea of: A. opportunity cost. B. upsloping supply. C. consumer sovereignty. D. specialization. 95. (Consider This) In 2000, McDonald's introduced its McSalad Shaker, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of: A. consumer sovereignty. B. technological change. C. downsloping demand. D. specialization. 96. (Consider This) Since World War II: A. North Korea's command economy has significantly outperformed South Korea's market economy. B. South Korea's command economy has significantly outperformed North Korea's market economy. C. North Korea's market economy has significantly outperformed South Korea's command economy. D. South Korea's market economy has significantly outperformed North Korea's command economy. 97. (Consider This) North Korea's command economy: A. is one of the few remaining command economies. B. has grown much faster than South Korea since the two countries were divided after World War II. C. produces a per capita GDP of nearly $25,000. D. has undergone significant market reforms and is now one of the fastest growing economies. 98. (Last Word) According to economist Donald Boudreaux, the world's tens of billions of individual resources get arranged productively: A. because government has become highly effective at central planning. B. because private property encourages people to consider the alternative uses of their resources and select those that provide the most rewards. C. because people tend to be creative and orderly. D. through random trial and error. 99. Last Word) According to economist Donald Boudreaux: A. private property eliminates the possibility that resource arrangements will be random. B. the market system threatens to do irreparable harm to the world's ecosystem. C. arranging resources under the market system is much like shuffling a deck of cards. D. the market system works wondrously for advanced industrial nations but not for developing nations. 100. Market economies use capital goods because they improve productive efficiency. True False 101. Money functions as a medium of exchange by eliminating the need for a coincidence of wants. True False 102. Consumer sovereignty means that legislation now protects the rights of consumers to dispose of their incomes as they see fit. True False 103. Specialization may expand total output even though the individuals involved may have identical abilities. True False 104. The wants of consumers are expressed in the product market with ââ¬Å"dollar votes. â⬠True False 105. Costs can be defined as total payments made to workers, land owners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good. True False 106. Continued losses in an industry will cause some firms to reduce output or eventually leave the industry. True False 107. The guiding function of prices tends to keep resources flowing toward their most highly valued uses. True False 108. The invisible hand refers to the many indirect controls that the Federal government imposes in a market system. True False 109. Central planning in the Soviet Union and pre-reform China emphasized the expansion of the production of consumer goods to raise the domestic standard of living. True False 110. Central planning often suffers from a coordination problem and an incentive problem. True False ch02 Key1. B2. C3. D4. A5. B6. B7. C8. A9. D10. A11. C12. A13. B14. C15. C16. C17. B8. B19. C20. A21. D22. B23. A24. A25. C26. C27. A28. D29. B30. C31. D32. C33. D34. D35. B36. B37. D38. A39. C40. B41. B42. D43. B44. B45. C46. B47. A48. B49. D50. B51. B52. A53. D54. A55. B56. D57. A58. C59. B60. A61. D62. A63. B64. D65. A66. B67. C68. A69. A70. B71. D72. B73. D74. C75. A76. A77. C78. B79. C80. C81. C82. B83. A84. B85. C86. D87. C88. C89. C90. D91. B92. B93. D94. C95. A96. D97. A98. B99. A100. TRUE101. TRUE102. FALSE103. TRUE104. TRUE105. FALSE106. TRUE107. TRUE108. FALSE109. FALSE110. TRUE ch02Summary Category # of Questions AACSB: Analytic 72 AACSB: Reflective Thinking 38 Blooms: Level 1 Remember 36 Blooms: Level 2 Understand 51 Blooms: Level 3 Apply 18 Blooms: Level 4 Analyze 5 Difficulty: 1 Easy 36 Difficulty: 2 Medium 69 Difficulty: 3 Hard 5 Learning Objective: 02-01 Differentiate between a command system and a market system. 3 Learning Objective: 02-02 List the main characteristics of the market system. 25 Learning Objective: 02- 03 Explain how the market system decides what to produce; how to produce it; and who obtains it. 40 Learning Objective: 02-04 Discuss how the market system adjusts to change and promotes progress. 14 Learning Objective: 02-05 Describe the mechanics of the circular flow model. 16 McConnell ââ¬â Chapter 02 115 Topic: Characteristics of the market system 25 Topic: Circular flow model 16 Topic: Demise of the command systems 13 Topic: Economic systems 10 Topic: Five fundamental questions 38 Topic: Invisible hand 8
Wednesday, October 23, 2019
Belonging Essay Essay
Concept, perceptions and ideas to belong or not to belong differ from person to person. This is due to experiences that shape ones personality that come through personal, cultural, social and historical context. The idea of belonging allows one to have some sort of connection and communal with people, places, groups, communities and the wider world. In contrast not belonging causes one to suffer from alienation, exclusion and marginalisation. As a result these factors can cause an individual to be at different states of depression depending on oneââ¬â¢s personality and situation. However in society, belonging has become and essential to life. Many texts have explored the notion of belonging and not belonging; the play Rainbows End by Jane Harrison and the short film Between the Flags Produced by Jayce White explore the concept of belonging and not belonging to place and people through several forms. Rainbows End by Jane Harrison is a play that explores the concept of belonging and not belonging thorough Harrisonââ¬â¢s choice of cultural and historical context at the time. The play is set in the 1950ââ¬â¢s during the time Queen Elizabeth II was visiting Australia and whilst many racist policies where practiced such as the Assimilation, Paternalistic and the White Australia policy which all discriminated and alienated the Aboriginal people from the wider community. Throughout the play, it is manifest the Aboriginal people belong and do not belong to certain placed and people. This is shown through a conversation that Nan Dear his with Dolly about her birthplace, ââ¬Å"Well, of course Iââ¬â¢m not gunna die. Not here anyway. Gotta go back to my old place to do that. Nan Dear Act One Scene One. This quote conveys Nan Dearââ¬â¢s idea of belonging to place, she assertively expresses to dolly that this is not her place and she will eventually return to where she fits most, through this may not be physically but rather spiritually, which is also part of the aboriginal culture and traditions. The understanding to belong, not belong and the longing to belong alters from one individual to another, this is extensively due to oneââ¬â¢s overall background experiences which have ultimately shaped ones thoughts and ideas on the various notions of belonging. This is very evident throughout the play, Rainbows End as different perceptions of belonging are conveyed through conversations and incidents that occurs from characters of different social and historical background. An example of such is the conversation that Errol and Dolly have about the differences in their families. Errol attempts to convince Dolly that he is willing to give her a better life, if she agrees to marry him but away from her family. Dolly does not agree with Errol Fisherââ¬â¢s views on a better life and continues to question his thoughts through the repetition of his words. DOLLY: You want me to leave here for ever? ERROL: Iââ¬â¢m offering you a better life. DOLLY: A better life? ERROL: In the city thereââ¬â¢s department stores so big that you can spend all day in them. Why in the city thereââ¬â¢s even little restaurants you can eat spaghetti, just like Italy. DOLLY: Spaghetti? This conversation portrayed Errol and Dollyââ¬â¢s different perceptions of belonging. The use of the repetition is ironic as Dolly has her family and place does not understand the meaning of ââ¬Å"better lifeâ⬠. The connection that dolly has with her family and place has created her to feel comfortable there regardless of all the discriminatory acts of the time. Errol and Dollydiffering opinions come through their social and cultural context which causes them to continuously clash between each other. ââ¬Å"Your world. And youââ¬â¢re just assuming that your world is better. But actually, when I think about it- when I think about nasty Nancy ââ¬â she has everything that opens and shuts. Iââ¬â¢m not sure it isbetter. I wouldnââ¬â¢t trade placer with her for anything. And as far as youââ¬â¢re offering â⬠¦ no thank you. This is my place. Iââ¬â¢m staying right here with my Mum and Nanâ⬠despite Dolly not being a young adult who has subjected to racial incidents, that could be prevented in the future if she accepts to marryErrol The short film Between the Flags is a Tropfest film that references and represents the incident that had occurred in the year of 2005, Cronulla riots, concerning two racial groups; the Australian and the Lebanese, which caused violence and division amongst the two races. If mixing of the two diverse racial groups had occurred at the time it often resulted in a brawl and further conflict; however the filmBetween the Flags argues this conviction through a humorous way. Several forms such as: humour, irony, popular culture and themes such as the beach and ââ¬Å"typical Australian blokeâ⬠support the idea that two or more people can intertwine together regardless of any dispute one being removed from the external society. The use of irony is used throughout the complete film, it creates humour in-between the two characters which generates harmony amongst them, this is apparent in the film. An example of this is when the Lebanese character (character are not given names instead each represents an ethnicity which is shown through their choice of costume) approaches the Australian bloke: ââ¬Å"Whatââ¬â¢s goin onâ⬠ââ¬â Lebanese boy ââ¬Å"Gââ¬â¢day mateâ⬠ââ¬â Australian bloke ââ¬Å"Here for the riotsâ⬠ââ¬â Lebanese boy ââ¬Å"Yeah, looks like weââ¬â¢re the first ones hereâ⬠ââ¬â Australian bloke ââ¬Å"Maybe we should wait for a more peopleâ⬠ââ¬â Lebanese boyà The conversation between them continues the irony of the situation is the conversation that occurs, and also the use of such words such as ââ¬Å"mateâ⬠, as both of them are at the beach to riot against each other; instead they involve themselves together in a communal conversation. Throughout give-and-take of words between the two characters they both felt a sense belonging and ease towards each other even through the beach was supposed to be a place of non-belonging and dispute. This was majorly due to them being part of the popular culture and sharing the same interest. Their reactions were shown through the use of close up camera shots, as they enable the viewer to understand the characters emotions and have a sense of empathy towards them. The short film Between the Flags uses the beach as the setting to the film, as this is also references to the Cronulla riots as they had occurred at the beach. The attitudes that the characters have towards the beach affirm that it is a place of regular social call, also part of each ones character regardless of their ethnic background. Two characters connection with the beach enables the viewers to have an immediate understanding that it is a place of belonging to one another. This is manifest in the film through the connection that the characters grow due to playing a game of cricket, nevertheless in the film the beginning of the game the Lebanese character says ââ¬Å"umm I donââ¬â¢t usually do this butâ⬠¦Ã¢â¬ this had displayed to the audience that he is not too liking of cricket but he starts to play as it is most appropriate to do so. This was shown through a continuous full camera shot to show the characters interaction with each ther and to also display the setting of the film. Throughout exploring and analysing texts it has become most evident that people views of belonging is constructed through their perception on the place. This concept was explored in the two texts Rainbows End by Jane Harrison and the short film Between the Flags produced by Jayce White as both texts had explored belonging, not belonging or the longing to belong to a place through the perceptions and the social, historical, cultural and personal context of an individual determined their sense of belonging and not belonging.
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