Symptoms And Symptoms Of Generalized Anxiety Disorder

Anxiety/OCD/PTSD Disorders Generalized Anxiety Disorder PTSD When it comes to generalized anxiety disorder (GAD) and post traumatic stress disorder (PTSD) though they differ in each diagnosis, they also can share a unique bond with each other. Both diagnoses can co-occur among patients. According to the Diagnostic and Statistical Manual of Mental Disorders, 5th edition (DSM-V), post-traumatic stress disorder is a mental health condition that s triggered by exposure to one or more tragic/terrifying events. Symptoms may include flashbacks, nightmares and severe anxiety, as well as uncontrollable thoughts about the event (American Psychiatric Association, 2013). For generalized anxiety disorder, according to the DSM-V, â€Å"the essential feature of generalized anxiety disorder is excessive anxiety and worry (apprehensive expectation) about a number of events or activities. The intensity, duration, or frequency of the anxiety and worry is out of proportion to the actual likelihood or impact of the anticipated event† (American Psychiatric Association, 2013, p.1). Similarities/Differences Each of these diagnosis can both cause a strain in someone’s life and can possibly result in not being able to function of cope with day-to-day activities based. According to research conducted by Beck, Jones, Reich, Woodward, Cody (2015), GAD diagnostically shares several symptoms with PTSD such as difficulty sleeping and concentrating. Both are aShow MoreRelatedSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1860 Words   |  8 PagesAnxiety plays a key role in the lives of many people in this world and causes many of them to feel very nervous or concerned about what is to come. There are many disorders that can come with having anxiety, but the most common disorder of them is Generalized Anxiety Disorder. By comprehending the effects and symptoms of Generalized Anxiety Disorder, there can be a result of treatments and medication that can lead to coping with GAD. More often than not, people tend to have regular anxiety and thatRead MoreSymptoms And Symptoms Of G eneralized Anxiety Disorder1742 Words   |  7 Pages TERMINOLOGY CLINICAL CLARIFICATION Generalized anxiety disorder (GAD) is a DSM-V anxiety disorder characterized by excessive worry and apprehensiveness about a variety of present and future activities and events. 48 o Six-month duration of anxiety and worry about a number of activities and events o Difficult for the patient to control the worry o Three or more of the following associated symptoms NOTE: only one item is required for children Restlessness, feeling on edge Easily fatigued TroubleRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder892 Words   |  4 PagesPsychology Fall, 2016, Worksheet One 1. Define generalized anxiety disorder, and discuss how it differs from panic attacks, and from specific phobias. Generalized anxiety disorder is characterized by excessive anxiety and a feeling of being out of control. In addition, individuals with this disorder often experience a lack of concentration, disturbances in sleep, restlessness, and irritability. This disorder differs from panic attacks in that the anxiety is future based, instead of present based. DueRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1085 Words   |  5 PagesGeneralized Anxiety Disorders Introduction to the paper Anxiety is a component found within many other mental disorders. The most common is depression. There are a number of anxiety disorders in the DSM, we will be looking at generalized anxiety disorder (GAD). Generalized anxiety disorder causes one to worry and have anxiety about an event or activity that will most likely intensify and have a high impact on that particular activity or event. An individual diagnosed with generalized anxiety disorderRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1498 Words   |  6 Pages The basis and length of Ms. Hendricks symptoms of worry, and feeling overwhelmed is closely related to Generalized Anxiety Disorder. Generalized anxiety disorder (GAD) is a highly prevalent disorder characterized by excessive worry or anxiety about everyday events, whether they are internal or external or originating in the past, present, and/or future (American Psychiatric Association, 2000). The symptoms of Generalized Anxiety Disorder result from increase, typical, inflexible interactions ofRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1660 Words   |  7 PagesGeneralized anxiety disorder or GAD is described as excessive, exaggerated anxiety and worry about everyday life events with no logical reasons to justify it. Symptoms from this particular type of mental disorder include over exaggerated worrying and anxiety, an unrealistic view of situations in everyday life, fatigue, irritability, difficulty concentrating, muscle tension, and more. Life becomes a constant state of worry and dread. Eventually, the anxiety overtakes the person s mindset so muchRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay2459 Words   |  10 Pages8) Other Specified Anxiety Disorder, with full criteria for generalized anxiety not met A 27-year-old electrician is describing symptoms that do not meet the full criteria for any of the disorders in the anxiety disorders diagnostic class of the Diagnostic Statistical Manual of Mental Disorders (5th ed.; DSM-5; American Psychiatric Association [APA], 2013). Therefore, a diagnosis of other specified anxiety disorder is appropriate. However, it should be noted that the symptoms described are highlyRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder2442 Words   |  10 Pages Introduction Generalized Anxiety Disorder is an excess and uncontrollable type of anxiety that causes worry with future events or activities. It is a very common and persistent disorder, more in women than in men. Some of the symptoms of this disorder are, restlessness, disturbance in sleeping, tight or tension feelings, increase of heart rate, sweating and many more (Mohlman, 2006). Adults over the age of 60 have the most common rate of having GAD, according to Mohlman â€Å"estimated prevalence ratesRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder1591 Words   |  7 Pagesprovided, Mary meets diagnostic criteria for Generalized Anxiety Disorder (GAD), according to the Diagnostic and Statistical Manual of Mental Disorders, fifth edition (DSM-5) (APA, 2013). Mary experiences excessive anxiety and worry, occurring more days than not for at least six months, about a number of events (work, friends, health). Mary reported that it is difficult to control the worry. The anxiety and wor ry are associated with the following symptoms, which are present for more days than not:Read MoreSymptoms Of Generalized Anxiety Disorder1218 Words   |  5 PagesGeneralized Anxiety Disorder Degie Gelaw American Sentinel University Generalized Anxiety Disorder The sympathetic nervous system stimulates the body’s â€Å"fight-or-flight† response by releasing epinephrine and nor-epinephrine when a perceived threat or situation arises resulting in feeling anxious. When a body’s physiological response which is a normal phenomenon becomes exaggerated and is associated with a particular fear or situation, a person feels extremely threatened resulting Symptoms And Symptoms Of Generalized Anxiety Disorder Psych 335 – Abnormal Psychology Fall, 2016, Worksheet One 1. Define generalized anxiety disorder, and discuss how it differs from panic attacks, and from specific phobias. Generalized anxiety disorder is characterized by excessive anxiety and a feeling of being out of control. In addition, individuals with this disorder often experience a lack of concentration, disturbances in sleep, restlessness, and irritability. This disorder differs from panic attacks in that the anxiety is future based, instead of present based. Due to this difference individuals with generalized anxiety disorder, have anxiety about a situation in which they are not currently in, while people who experience panic attacks initially react to a perceived threat in the environment. Also, generalized anxiety disorder and panic attacks or panic disorder are associated with dissimilar physiological reactions. With panic disorder, there is arousal of the sympathetic nervous system, which results in symptoms such as increased heart rate, trembling and sweating. Physical symptoms of part of generalized anxiety disorder include muscle tension, fatigue, irritability, and difficulty sleeping. For generalized anxiety disorder, there is are biological and psychological vulnerabilities, this is true of panic disorder as well, however there is also learned component; this difference is found in specific phobias in that it often results from learned experiences. In comparison with specific phobias, generalized anxietyShow MoreRelatedSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1860 Words   |  8 PagesAnxiety plays a key role in the lives of many people in this world and causes many of them to feel very nervous or concerned about what is to come. There are many disorders that can come with having anxiety, but the most common disorder of them is Generalized Anxiety Disorder. By comprehending the effects and symptoms of Generalized Anxiety Disorder, there can be a result of treatments and medication that can lead to coping with GAD. More often than not, people tend to have regular anxiety and thatRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder1742 Words   |  7 Pages TERMINOLOGY CLINICAL CLARIFICATION Generalized anxiety disorder (GAD) is a DSM-V anxiety disorder characterized by excessive worry and apprehensiveness about a variety of present and future activities and events. 48 o Six-month duration of anxiety and worry about a number of activities and events o Difficult for the patient to control the worry o Three or more of the following associated symptoms NOTE: only one item is required for children Restlessness, feeling on edge Easily fatigued TroubleRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1085 Words   |  5 PagesGeneralized Anxiety Disorders Introduction to the paper Anxiety is a component found within many other mental disorders. The most common is depression. There are a number of anxiety disorders in the DSM, we will be looking at generalized anxiety disorder (GAD). Generalized anxiety disorder causes one to worry and have anxiety about an event or activity that will most likely intensify and have a high impact on that particular activity or event. An individual diagnosed with generalized anxiety disorderRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1498 Words   |  6 Pages The basis and length of Ms. Hendricks symptoms of worry, and feeling overwhelmed is closely related to Generalized Anxiety Disorder. Generalized anxiety disorder (GAD) is a highly prevalent disorder characterized by excessive worry or anxiety about everyday events, whether they are internal or external or originating in the past, present, and/or future (American Psychiatric Association, 2000). The symptoms of Generalized Anxiety Disorder result from increase, typical, inflexible interactions ofRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay1660 Words   |  7 PagesGeneralized anxiety disorder or GAD is described as excessive, exaggerated anxiety and worry about everyday life events with no logical reasons to justify it. Symptoms from this particular type of mental disorder include over exaggerated worrying and anxiety, an unrealistic view of situations in everyday life, fatigue, irritability, difficulty concentrating, muscle tension, and more. Life becomes a constant state of worry and dread. Eventually, the anxiety overtakes the person s mindset so muchRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder Essay2459 Words   |  10 Pages8) Other Specified Anxiety Disorder, with full criteria for generalized anxiety not met A 27-year-old electrician is describing symptoms that do not meet the full criteria for any of the disorders in the anxiety disorders diagnostic class of the Diagnostic Statistical Manual of Mental Disorders (5th ed.; DSM-5; American Psychiatric Association [APA], 2013). Therefore, a diagnosis of other specified anxiety disorder is appropriate. However, it should be noted that the symptoms described are highlyRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder824 Words   |  4 Pages Anxiety/OCD/PTSD Disorders Generalized Anxiety Disorder PTSD When it comes to generalized anxiety disorder (GAD) and post traumatic stress disorder (PTSD) though they differ in each diagnosis, they also can share a unique bond with each other. Both diagnoses can co-occur among patients. According to the Diagnostic and Statistical Manual of Mental Disorders, 5th edition (DSM-V), post-traumatic stress disorder is a mental health condition that s triggeredRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder2442 Words   |  10 Pages Introduction Generalized Anxiety Disorder is an excess and uncontrollable type of anxiety that causes worry with future events or activities. It is a very common and persistent disorder, more in women than in men. Some of the symptoms of this disorder are, restlessness, disturbance in sleeping, tight or tension feelings, increase of heart rate, sweating and many more (Mohlman, 2006). Adults over the age of 60 have the most common rate of having GAD, according to Mohlman â€Å"estimated prevalence ratesRead MoreSymptoms And Symptoms Of Generalized Anxiety Disorder1591 Words   |  7 Pagesprovided, Mary meets diagnostic criteria for Generalized Anxiety Disorder (GAD), according to the Diagnostic and Statistical Manual of Mental Disorders, fifth edition (DSM-5) (APA, 2013). Mary experiences excessive anxiety and worry, occurring more days than not for at least six months, about a number of events (work, friends, health). Mary reported that it is difficult to control the worry. The anxiety and wor ry are associated with the following symptoms, which are present for more days than not:Read MoreSymptoms Of Generalized Anxiety Disorder1218 Words   |  5 PagesGeneralized Anxiety Disorder Degie Gelaw American Sentinel University Generalized Anxiety Disorder The sympathetic nervous system stimulates the body’s â€Å"fight-or-flight† response by releasing epinephrine and nor-epinephrine when a perceived threat or situation arises resulting in feeling anxious. When a body’s physiological response which is a normal phenomenon becomes exaggerated and is associated with a particular fear or situation, a person feels extremely threatened resulting Symptoms And Symptoms Of Generalized Anxiety Disorder Brief diagnosis of case Based on the information provided, Mary meets diagnostic criteria for Generalized Anxiety Disorder (GAD), according to the Diagnostic and Statistical Manual of Mental Disorders, fifth edition (DSM-5) (APA, 2013). Mary experiences excessive anxiety and worry, occurring more days than not for at least six months, about a number of events (work, friends, health). Mary reported that it is difficult to control the worry. The anxiety and worry are associated with the following symptoms, which are present for more days than not: difficulty concentrating or mind going blank, irritability, and sleep disturbance. The anxiety, worry, or physical symptoms cause significant distress or impairment in Mary’s social and†¦show more content†¦It is believed that these experiences become learned behaviors through the modeling of their parents. It is also common to see children diagnosed with GAD where parents had either an anxiety disorder or major depression. Other factors associated w ith the diagnosis of GAD are age, gender, marital status, and stressful life events. In general, through adolescents and young adulthood (13-32 years of age) is the accepted age of onset for anxiety disorders (Dogan, 2012). This has also been found to be true of GAD specifically. In the case of both anxiety disorders in general and GAD specifically, there are a higher percentage of women than men diagnosed (Dogan, 2012). More precisely, women are twice as likely than men to experience GAD according to the DSM-5 (APA, 2013). A study published by Dogan (2012), reported that those who are single, divorced, separated, or widowed experience higher rates of GAD. This is also true for individuals who experience stressful life events in both childhood and adulthood (Dogan, 2012). It has also been found that individuals of European descent experience GAD more frequently than other individuals (APA, 2013). Summary of Literature on Effective Treatments One of the most effective evidence-based treatments offered for GAD includes cognitive behavioral therapy (CBT). The goal of

The Debate Regarding Same Sex Marriage - 2617 Words

The definition of marriage varies according to different cultures, but when defined broadly, marriage is considered to be an institution common to all human cultures. In terms of legal recognition, most sovereign states limit marriage to male and female couples (two persons of opposite gender). Nowadays a growing number of countries (about 15) have established a legal recognition for same-sex marriage. While few societies have recognized same-sex unions as marriages there is a long history of same-sex unions around the world. Various types of same-sex unions have existed, ranging from informal, unsanctioned, and temporary relationships to highly ritualized unions. The attitude of people reveals a large range of attitudes towards same-sex†¦show more content†¦People marry for many reasons, including: legal, social, sexual, emotional, financial, spiritual and religious, but marriages is primarily a social stabilizer because it creates the only association able to move forward our social heritage. Families (association of individual: the entity) are one of the fundamental keys to understand life. Why, would you say? Well, because without living a family life, without children, spouse, companions, neighbours and associates, it is impossible to experience the renunciation of self for the good of others (love: not sex). A family (cultural legacy) starts with the association of man and women and not merely with the association of individual having the same sex, because family have a cultural heritage not coming only from past generations but a legacy that can be extended to following generations for the betterment of the whole. Two individuals of the same sex in a relationship cannot transmit anything further from their union because they cannot naturally procreate. The preservation of self, means the preservation of the individual, but when this preservation of self exists in a community (group of individuals: the community: the state) the social group mus t also assume it and is therefore obliged to create rules for the good and the sustaining of itself: the whole. As a single individual you are temporary within a family, but the family and its culture (its legacy) will continue if childrenShow MoreRelatedSame Sex Marriage Should Be Legal1188 Words   |  5 Pagesmost specifically, the topic of same sex marriage. While a copious amount of people agree that same sex marriage is no different than heterosexual marriage and should be awarded the same protection, others argue that it is an infringement upon family values, tradition, and religious sensibilities. Over the past few years, several state appellate courts have looked at whether their respective state constitutions actually protect the right to marry a same-sex partner. These courts addressingRead MoreThe Debate Over Same Sex Marriage1334 Words   |  6 Pagesapprove the so-called Federal Marriage Amendment. This would amend the US Constitution to legally define marriage as the union of a man and a woman only. Utah has passed a similar amendment that was ratified by Utah voters in the general election of 2004. I believe that couples of the same sex should be able to marry, and receive the same rights as man and women couples, but I m going to argue both points. The pros and the cons of same sex marriage. -Same sex marriage has been a fight that has beenRead MoreLgbtq Rights And Lgbt Rights1403 Words   |  6 PagesWhat laws and measures have been taken to protect LGBTQ rights/marriage in multiple states including New York and throughout the world? LGBTQ rights have been a largely debated issue for many years now. Many questions about gay rights still stand. Should people who are LGBTQ have the right to marry? Do they deserve the same rights? In October 2014, only 19 states legalized LGBTQ marriage. (â€Å"By the numbers, Same-sex†) Now, in March 2015, that number has almost doubled. (37 States with Legal) It’sRead MoreThe Canada And The Gay Rights Movement1003 Words   |  5 Pagesage of consent for anal sex from 18 and 14 for other sexual activity and it was recognized that a higher age for consent of anal sex was unconstitutional (BC Teachers’ Federation, 2016). Since then there have been many changes to the political and social system in Canada to be able to improve the rights not only individuals whom are part of the LGBTQ community, but also for those whom are in same sex relationships (BC Teachers’ Federation, 2016). As of 2005, same-sex marriage was legalized in Canada;Read MoreGay Marriage Should Be Legal1351 Words   |  6 Pagesfor United States, gay marriage became legal in all 50 states. In most states it already was but the remaining 13 became legal this year. There are many concerns regarding gay marriage, and the effects of them involve many legislative, cultural, religious and family issues. Gay marriage is controversial because a lot of people do not approve of it, they think it is immoral, unnatural, and not what the traditional concept of â€Å"marriage† really means. Opponents of gay marriage say it is only meant forRead MoreSame Sex Marriage and Politics in the U.S. Essay800 Words   |  4 PagesRecently, Same Sex Marriage has become a major issue in the United States. There are variations in opinions concerning the topic. The main concern is should same sex marriage be allowed or declared unconstitutional. Plenty of conservatives are completely against gay marriage and many of liberals are fighting for equal treatment. Many controversies and a rguments have developed from this issue. There are many reasons why gay marriage should be legal or illegal. The people who oppose same sex marriageRead MoreCritical Analysis of Schulmans Article Gay Marriage and Marriage963 Words   |  4 PagesMarriage, for years has been argued that the rights to it or strictly only between a man and a women. Both sexes are assumed to marry someone of the opposite sex. What if, however, an individual wanted to marry someone of the same sex? Why is this debate so heavily heated amongst individuals? Is it that religion is a large structure base that those in society are guided by? Or is it that individuals do not understand that marriage is a union between two individuals who are in love? Whatever the caseRead MoreArguments For Same Sex Marriage1483 Words   |  6 Pageslove regardless of gender, the rest of the country continues to forbid same-sex couples to marry (Ahuja) and in doing so, infringe upon one of the most basic freedoms we are allowed. Arguments for same-sex marriage, despite being backed up with hard legal evidence and Supreme Court ruli ngs, continue to face opposition on the grounds of religious beliefs and personal values. Often cited by Catholics is an interpretation of marriage as â€Å"a promise made to God† and â€Å"a holy sacrament† that is only to beRead MoreGay Marriage1711 Words   |  7 PagesRWS 305 T 4PM Professor Voth October 13, 2009 Gay Marriage Begins With Separation Our country was built on the foundation of separation between church and state. But has the concrete wall of separation begun to deteriorate? Or was it ever really there at all? As we continuously battle over the rights to same sex marriage, the question of church or state surfaces. It is due time that we examine this matter and decide once and for all if the church should have any opinion in theRead MorePersuasive Essay On Same Sex Marriage1005 Words   |  5 Pagesmany expectations as to who people should be and how marriage is supposed to work. From the beginning, marriage between a man and woman has been considered the bedrock of society. Dating back to the 1970s; same sex marriage has been a major issue. In an article on MPR News written by Sasha Aslanian, she states, â€Å"On May 18th, 1970, two Minneapolis men made a shocking request. They applied for a marriage license†¦ At the time, Minnesota’s marriage laws didn’t mention gender, but Hennepin Co unty rejected

Law question free essay sample

Ali had an antique motorbike which he decided to sell. He parked the motorbike on his front lawn with a sign For sale- RM20,000. Ah Chong, who saw the sign, said to Ali that he would be prepared to buy the motorbike for RM15,000. Ali replied that the price is too low and suggested RM18,000. Ah Chong responded by asking if Ali would be prepared to accept payment of the RM18,000 in three monthly instalments of RM6,000 each. Ali replied that he would not. Ali then added, Anyway I am no longer interested in selling the motorbike to you. At that precise moment Ali spoke these words, a helicopter flew low overhead and drowned out his words. Ali did not bother to repeat what he had just said and was leaving when Ah Chong quickly agreed to the RM18,000 suggested earlier by Ali. Discuss whether there is a contract between Ali and Ah Chong. Explain whether your answer would be different if the helicopter flying overhead had not drowned out Alis words and Ah Chong heard what was said? Assignment Answer In this assignment, I would like to discuss the question above part by part. First of all, from the sentence , He parked the motorbike on his front lawn with a sign For sale- RM20,000, it is said that there was an invitation to trade. Invitation to treat or simply speaking information to bargain means a person inviting others to make an offer in order to create a binding contract. An example of invitation to treat is found in window shop displays and product advertisement. . In another words it is a special expression showing a person’s willingness to negotiate. The issue of invitation to treat was discussed in the case of Fisher v Bell[1961] 1 QB 394 by the English Court of Appeal : â€Å"It is perfectly clear that according to the ordinary law of contract the display of an article with a price on it in a shop window is merely an invitation to treat. It is in no sense an offer for sale the acceptance of which constitutes a contract. †[1]. An offer can be seen from the prescribed text, Ah Chong, who saw the sign, said to Ali that he would be prepared to buy the motorbike for RM15,000. It is stated in Section 2(a) Contracts Act 1950, when one person signifies to another his willingness to do or abstain from doing anything, with a view to obtaining the assent of that other to the act or abstinence, he is said to make a proposal. and Section 2(b) Contracts Act 1950,when the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted :a proposal, when accepted, becomes a promise. . Both laws were applied when Ah Chong has shown his willingness to make an offer as he would be PREPARED to buy the motorbike for RM15,000. However, a counter offer was made by Ali when instead of accepting or rejecting Ah Chongs offer, Ali made another offer: Ali replied that the price is too low and suggested RM18,000. Ali’s offer refers to a counter offer. In this situation unless an acceptance is rendered, there is no binding contract between A and B. This situation is stated in Section 6(c) Contracts Act 1950- by the failure of the acceptor to fulfill a condition precedent to acceptance. There was famous case known as [2]Hyde v. Wrench, [1840] EWHC Ch J90 where Wrench (D) offered to sell his estate to Hyde for 1200 pounds and Hyde (P) declined. Wrench then made a final offer to sell the farm for 1000 pounds. Hyde in turn offered to purchase the property for 950 pounds and Wrench replied that he would consider the offer and give an answer within approximately two weeks. Wrench ultimately rejected the offer and the plaintiff immediately replied that he accepted Wrench’s earlier offer to sell the real estate for 1000 pounds. Wrench refused and Hyde sued for breach of contract and sought specific performance, contending that Wench’s offer had not been withdrawn prior to acceptance. The question or issue here is if one party makes an offer and the offeree makes a counteroffer, does the original offer remain open? Answer is No because a counteroffer negates the original offer. By making a counteroffer, the plaintiff rejected the original offer and he was not entitled to revive it. So in another words, the parties did not form a binding contract. Then we proceed to the next part where Ah Chong made a mere enquiry to Ali by asking if Ali would be prepared to accept payment of thr RM18,000 in three monthly instalments of RM6,000 each. Then, Ali replied that he would not. On top of that, Ali added that he is no longer interested in selling the motorbike to Ah Chong. Section 5(1) Contract Acts 1950 A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. This particular case [3][3]ROUTLEDGE V GRANT (1828) 4 BING 653 is another example of revocation of an offer : Grant wrote to Routledge offering to purchase the lease of his house. The offer was to remain open for six weeks. Grant then changed his mind about purchasing the lease and, within the six weeks, withdrew his offer. After Routledge had received Grant’s letter withdrawing the offer, he wrote back to Grant, within the six weeks, accepting Grant’s offer. The issue before the court was whether Grant could withdraw his offer within the six week period or whether he was bound contractually given that Routledge had accepted the offer within the timescale. The court held the offer could be withdrawn within the six week period without incurring any liability – if one party has six weeks to accept an offer, the other has six weeks to put an end to it. One party cannot be bound without the other. The case and scenario above convey an useful reminder that until such time as an offer is accepted, the offeror is free to revoke it, even if they have given the recipient a period of time to consider it. When Ali spoke : I am no longer interested in selling the motorbike to you. a helicopter flew and drowned his words. And yet, Ali did not bother to repeat what he just said and was leaving when Ah Chong quickly agreed to the RM18,000 suggested earlier by Ali. In this particular moment, Ali rejected Ah Chongs offer but according to Section 6(a) Contracts Act 1950- by the communication of notice of revocation by the proposer to the other party. It states that revocation os not effective until it is received, communicated. In fact, Ali himself reluctant to repeat what he said which is very important and vital in that situation. Here is one similar case, [4]Byrne v Van Tienhoven (1880) LR 5 CPD 344. In this case, Van Tienhoven offered to sell goods to Byrne by letter dated 1 October. On 8 October, prior to acceptance, Van Tienhoven posted a letter revoking the offer. This letter was received by Byrne on 20 October. In the meantime, on 11 October Byrne received the letter and dispatched an acceptance. Was there a contract? To be effective revocation must be communicated. Where post is used for acceptance, acceptance occurs when and where sent. However, this rule does not apply in relation to revocation of offers thus, if post is used for revocation, communication is only effective if and when it is received by the offeree. As this occurred after acceptance there was a contract formed in this case. An offer was containing a price escalation clause. A counter offer was then made without this clause; it contained a detachable receipt which the company sent back with a notation that they assumed it was on their terms. Thus, the intended message was failed to be received by Ah Chong, the offer has not been revocated. There is a contract between Ali and Ah Chong in this scenario. Section 6(a) Contracts Act 1950 obviously stated revocation must be actually communicated to the offeree before the offer can be treated as effectively revoked. Besides, Section 4(1) Contracts Act 1950- The communication of a proposal is complete when it comes to the knowledge of the person to whom it is made. Importance of conveying message has been shown when either offering or revocating an offer. On the other hand, if the helicopter flying overhead had not drowned out Alis words and Ah Chong heard what was said, outcomes definitely would be different. As was mentioned earlier, if the intended message was communicated or received by Ah Chong, revocation of the offer will succeed. In conclusion, communication is very crucial when conducting contracts or offerings as the outcomes and consequences can differ easily.

Growth And Financial Performance Of Electric-Myassignmenthelp.Com

Question: Discuss About The Growth And Financial Performance Of Electric? Answer: Introducation The bakery business is the kind of business in which the baker uses certain ingredients and applies some methods to get some yummy eatables for the consumers. Most of the bakery products are perishable in nature, and involves use of special ingredients. Over the years there have been huge improvements in the bakery business since then. Many technological innovations have took place and that have made the business more bigger and the bakers are not only restricted to small shops or kiosks anymore. They provide a lot of other services to the consumers that includes dinning in and caf services. The revenue of these bakeries runs into millions and there are many institutes around the world that teaches bakery professionally, many students see this as an excellent career options. So the face of the baking business has changed a lot over the years. From small shops they have changed into big business houses that provide multiple services to their consumers. In this case study we will study about the B bakery firm that had its revenues running into millions, and the overall employee count was 70. However the business was facing low times, because the demand of the consumers is changing. They want more of healthy products and that is different from the regular baking products(Abbott Kantor, 2017). So the company wants to introduce some changes in this system and the company wants to get new accounting software that will help them in management of the data. The bakery industry is a developing one and there are many changes are occurring. Few of the processes that are very much required in the baking industry are, procurement of the fresh and right ingredients. Most of the ingredients that are used are to be used within a short time frame otherwise they will became non useable. Hence it is important to effectively research the market and than get the right ingredient . Cost cutting is also important to makes sure that there no unwanted wastage because of the same. This is again an important phenomenon in the baking industry. Other important methods include automation of manual services that will help in saving a lot of time and efforts. As we know that the baking business includes a lot of man power so that might lead to increased cost and often cause errors in the system. So to avoid the same it is important to make sure that automation is introduced in the system that will help in reduction of these errors and help in saving a lot of cost(Alexander, 2016). Another important method includes that they maintain high sa les volume, which means that they must make sure that there every day sales is at par, because the baking products are highly perishable. If the consumers do not consume them within a particular time frame then there will be wastage. Hence anticipation of sales is very important. It is necessary to understand how much sales is to occur each day, and that will help in reducing wastage. We also see that with the increase in competition, brand promotion and marketing have become a very important part of so many industries. The baking business is evolving. People are looking for healthy alternatives. Hence it is important that they must be innovation and changes in the present scenario. Companies must do ample research to make sure that they are able to introduce such products in their menu that will attract customers. It will also give them an edge over others and will help them in maintaining a strong business base. These are few of the methods that every baker needs to perform in tod ays time(Arnott, et al., 2017). Important methods in the baking industry are- Automation of services- This will help in solving a lot of issues. It will help in getting the tedious work completed within time and will help in saving a lot of time. It will help in making the business more efficient and error free. People will realize what kind of issues might exist in the system, and employing accounting software will help them in getting a clear picture of the entire scenario. Thus it is highly recommended to infuse technology in the traditional baking methods and make it more efficient. Maintaining high volume of sales- It si very important to anticipate the total amount of sales and make the business function the same way. It is important to make sure that the company is able to produce that much products that are needed and avoid any kind of wastage(Belton, 2017). Most of the bakery goods are highly perishable and must be consumed within a time frame of one or two days , thus it is important that the companies do their analysis before producing these goods and that will help a lot in reducing high amount of wastage. Promotion and brand marketing Another important feature of the bakery business is that there must be effective amount of promotion and brand marketing. There is so much competition in this market and hence companies are required to plan and develop a proper marketing plan that will help them in getting an edge over their competitors. It will also help them in better brand value creation. This is an important aspect of branding and promotion that it helps in getting the customers aware about the various products that are there in the market(Belton, 2017). It will also help in bringing any innovation in the already exisisting methods, as competition increases each will try to out do one another. These are few of the methods that the companies want to employ by using the new accounting software and want some specific results that will help in the overall development of the business(Bromwich Scapens, 2016). The main outcomes that the company wants out of all these processes is that they will help in all round development of the company and help them in getting an edge over their competitors. It is also help in cost optimization and help in saving a lot of wastage that might occur otherwise. It will also help in developing the company by bringing in new technological changes. In this twenty first century it has become a very important part of the company to be technologically advanced as it will help them in saving time resources and bringing better changes in the already existing system. The other outcomes that the company wants from the new system is that there must be a system that will help them recognize the small errors and bugs and help them to remove it. It will also in improving the overall efficiency of the employees(Dichev, 2017). The company will be benefited a lot if they go for effective brand promotion. They can appoint an expert also that they can help them in this matter . Brand promotion is very important it will help them in improving the total amount of sales. It will help them in beating their customers. The customers will be aware about the products so that in turn will help in improving the total amount of sales of the company. These are few of the methods that will help the company in developing an growing(Guragai, et al., 2017). The B bakery business is suffering losses and is looking for alternatives that might help them in growing and getting an edge over their competitors so the company can achieve the same by installing a good accounting software package. That package must be within the budget of the company and will help the company in removing its discrepancies and ensuring all round development and growth. There are so many accounting software packages in the market. Each software have their own type of feature and characters. Few of the most important features that the company wants the accounting software to have are Customization- The accounting software should be such that they must be able to be customized as per the needs of the company. The demands of every company are different, there processes are different, so the software sometimes must be customized as per the needs of the management. The company needs to do proper research in the market needs to make sure that they choose the correct product that are suiting their needs. They must try to go for such vendors that provide them with these basic facilities. Adaptability- There are so many software packages in the market, some are high ERP based that are suited to the needs of the company that have high demands and some are small ranged ERP packages that are suited to medium ranged companies. Every company has their own needs and demand and thus they need to go for such software package that is suited to their overall needs and demands. Thus adaption is an important criterion. The packages must be easy to use and the employees must be able to understand how to use them. Thus the companies should do proper research before going for these packages and then select that package that is suitable to their needs and business(Hall Rapanotti, 2017). Interoperability- It is important that companies must go for such software package such that is able to satisfy the needs of the company. There are various departments in the company like sales, HR, marketing department, production etc. It is therefore important to have such software package that can be easily used in all the departments and they must be able to seamlessly get into the business of the company. It wont be easy for the company to get different software package for different departments, thus it is important to get such package that is able to satisfy the needs of all the departments of the company. Cost effective- The companies should go for that packages that are cost effective. They must be within the budget of the company, and should be such that provides long term service to the company and can be used for a long time. This is one of the most important features; for this company needs to make sure that the company does proper market research and then selects the best package that is as per their needs. Security- It is one of the most important features that the software packages must have. The companies are using this software packages to store their most important and confidential data. It is important to have proper security and there must be proper antivirus and other measures that must be employed to make sure that the company is keeping the data safe. These are the most important methods that the company must employ. The company must make sure that the vendor is providing them with proper security and thus there must be proper updating in this matter(Kew Stredwick, 2017). This will help them in keeping the business safe and will also make sure that important data is not losing of the company. These are the few features of the software package that the company must have and hence make sure that the accounting software must be very stable and easy to use of the business. It will help them in making the business better and will help them in doing well in the long run. There are so many businesses accounting software in the market. Each has their own features and characteristics. On doing the market research the best of this accounting software were SAP, MYOB, and XERO. SAP is one of the most expensive accounting software and is mostly used in large multinational companies. This is used for maintaining high volumes of data and it will help them in managing the different departments of the company. It can be easily customized and have different features that can help the company in management of all the resources. MYOB is the medium ranged software package that will help them in managing small volume of data and is mostly used in medium range of business. These have many features that can help the company in the long run and will help the company to manage their business effectively(Linden Freeman, 2017). XERO is the kind of software that can be used in managing huge amount of inventory and specially used in managing inventory. This is the mostly used to manage inventories and specializes in that department. It is suited for those companies in which there are large amount of inventories to be managed. Hence they are very department specific and cann ot be used by the companies for the overall growth and development. There are many other software packages also in the market but out of all of them these three are the best package that can suit the needs of the company. After considering the overall scenario it can be said that the best software that is suited to the overall needs of the company is MYOB. The company is a growing business and they do not have that much amount of data to maintain, once the business improves the company can go for high end ERP Packages that will help the company in all over development. This is why the company must go for the MYOB software it will help the company in the long run and will also be cost effective. The company has incurred huge losses hence for now it would be better if the company goes for normal ranged software package that might provide them with all round services and development(Trieu, 2017). There are so many accounting software in the market and each of them have their share of features and characters. The major differences between these software packages have been stated below in brief- SAP MYOB SAP is used to manage large amount of data and is mostly suited to satisfy the needs of big multinational companies. These are high end ERP Packages that are found in the market and are one of the best in the business. The key features of this accounting software includes that it helps in easy procurement of the raw material and effectively manage the same. It helps in providing better management to the human resources of the company. It helps in providing quality assistance to the company and its peers. It also helps in effective management of the logistics of the company and helps the management in making a mark in the company. It is mostly suited for large multinational companies and provides all round development to the company and its peers. Companies that are small and medium ranged finds it difficult to use such kind of software for their business as they cannot afford it. There are large amount of technicalities involved in the same and the employees need to be properly trained before they are able to use it. It can be easily customized as per the needs of the management and that will help in the development of the company and they can use the same as per the demands. Over all it is one of the best accounting software packages that is available in the market. And once the business of the company improves they must switch to such kind of software packages, that provide them long term growth and overall development(Venezia, 2017) MYOB is a medium ranged software package that is usually used in small companies and average firms. The software is mostly used by the company to manage medium amount of data and provide an all round development to the company and its peers. They key features of this accounting software includes that it will help in the overall development of the company as it can be easily used by all the departments. It provides easy access of data to the employees no matter where they are at the discretion of the management, thus they will help in maintaining proper data security. Other features includes that the contract with the vendor can easily be cancelled in case the company wants to use some other accounting packages. It helps in maintain flow of work within all the departments. It is very easy to use and the companies do not require to train their staff intensively. The company can easily switch to high end software packages when the business of the company expands, as of now MYOB is the best package as it provides all round services. It is easy to use, can be customized , helps in maintain interoperability between the departments and the most important feature is that it will help in automation of the entire work. The overall life of the software package is also good and when needed the companies can make the required switch that will help in their overall growth and development(Auken, 2016) Keeping in view the needs and demands of the company, and considering all the options that the company has in the present, it would be better if the company does not huge amount of money in these software packages and goes for normal ranged software packages that would help in their all round development and growth(Visinescu, et al., 2017). The company needs to select such software package that will be cost effective and also that will not suffice the overall demands. The B bakery business is growing, they want to expand into new field and since the company is incurring losses they do not have that much resources that all the demands can be fulfilled easily. So the company for now must spend in software packages that are cost effective. The specific needs of the company are- They need such software package that can be easily used by all the departments of the company, there must be interoperability and seamless data transfer from one department to the other They must choose such package that provides them with long term services and whose selg life is high so that the company does not need to make the switch very early. The company is in the growing stage they are venturing into new products and are considering new options for their menu, in that case they need packages that can help them in the same. They require such package that provides them with full automation of services and in which there is reduction in the total amount of cost that the company needs to incur and the overall scenario must be such that it helps in easy identification of bugs. Considering all the above demands of the company it can be said that MYOB is the best accounting software for the company in present. It is very cost effective and once when the business of the company expands they can easily make the switch to high end packages like the SAP. MYOB had many different features that it will help in the overall development of the company as it can be easily used by all the departments(Werner, 2017). It provides easy access of data to the employees no matter where they are at the discretion of the management, thus they will help in maintaining proper data security. Other features includes that the contract with the vendor can easily be cancelled in case the company wants to use some other accounting packages. The B bakery is a growing company they have an anuual revenue of 1.7 million dollar and the total employee count is 70, so the company is a medium ranged company and they should do proper research and analysis before choosing the right software packa ge for their business. They can go for expert advice in case they feel that they are not able to decide themselves(Charlton, et al., 2017). They should research and consider choosing the best vendor that will provide them with all the benefits that they want for the business. The vendors must be such that they provide them with updation facility as and when required. Any bugs in the system must be removed and care must be taken to ensure that the entire system is secured and there are no loopholes in the management of the same. It has become very important in toadys time to infuse technology in work and thus choosing the right software package will help in deciding the entire flow of work of the company and its employees and will ensure that in the long run the company is able to recover its losses. These are the few important consideration ,that must go in selecting the right software package for the company and its various needs. This will help the B bakery company in recovering a ll its losses and also in launching the new product line that it wants(Ruggiero Lehkonen, 2017). References Abbott, M. Kantor, A., 2017. Fair Value Measurement and Mandated Accounting Changes: The Case of the Victorian Rail Track Corporation. Australian accounting Review. Alexander, F., 2016. The Changing Face of Accountability. The Journal of Higher Education, 71(4), pp. 411-431. Arnott, D., Lizama, F. Song, Y., 2017. Patterns of business intelligence systems use in organizations. Decision Support Systems, Volume 97, pp. 58-68. Auken, S., 2016. Assessing the role of business faculty values and background in the recognition of an ethical dilemma. Journal of Education for Business, 91(4), pp. 211-218. Belton, P., 2017. Competitive Strategy: Creating and Sustaining Superior Performance. London: Macat International ltd. Bromwich, M. Scapens, R., 2016. Management Accounting Research: 25 years on. Management Accounting Research, Volume 31, pp. 1-9. Charlton, P., Ilott, D., Borgeaud, R. Drew, M., 2017. Risky business: An example of what training load data can add to shared decision making in determining acceptable risk. Journal of Science and Medicine in Sport, 20(6), pp. 526-527. Dichev, I., 2017. On the conceptual foundations of financial reporting. Accounting and Business Research, 47(6), pp. 617-632. Guragai, B., Hunt, N., Neri, M. Taylor, E., 2017. Accounting Information Systems and Ethics Research: Review, Synthesis, and the Future. Journal of Information Systems: Summer 2017, 31(2), pp. 65-81. Hall, J. Rapanotti, L., 2017. A design theory for software engineering. Information and Software Technology, Volume 87, pp. 46-61. Kew, J. Stredwick, J., 2017. Business Environment: Managing in a Strategic Context. second ed. London: Chartered Institute of Personnel and Development. Linden, B. Freeman, R., 2017. Profit and Other Values: Thick Evaluation in Decision Making. Business Ethics Quarterly, 27(3), pp. 353-379. Ruggiero, S. Lehkonen, H., 2017. Renewable energy growth and the financial performance of electric utilities: A panel data study. Journal of Cleaner Production, 142(4), pp. 3676-3688. Trieu, V., 2017. Getting value from Business Intelligence systems: A review and research agenda. Decision Support Systems, Volume 93, pp. 111-124. Venezia, I., 2017. Behavioral Finance: 'Where Do Investors'' Biases Come From?'. Singapore: WORLD SCIENTIFIC. Visinescu, L., Jones, M. Sidorova, A., 2017. Improving Decision Quality: The Role of Business Intelligence. Journal of Computer Information Systems, 57(1), pp. 58-66. Werner, M., 2017. Financial process mining - Accounting data structure dependent control flow inference. International Journal of Accounting Information Systems, Volume 25, pp. 57-80.

A guide to the differences between UK and US English - Emphasis

A guide to the differences between UK and US English A guide to the differences between UK and US English According to playwright George Bernard Shaw, the UK and the US are ‘two countries divided by a common language’. We may not need translators to converse, but you can save potential embarrassment or confusion by learning some of the writing differences. Most UK-English speakers know that ‘colour’ (not ‘color’) and ‘centre’ (not ‘center’) are correct, but should it be ‘benefited’ or ‘benefitted’, ‘travelling’ or ‘traveling’, ‘recognise’ or ‘recognize’? You may not be able to rely on the spell check for the answer. Our UK and US English guide reveals the main differences between our use of punctuation, grammar, some vocabulary and spelling. Use it to discover what to do when the rules are not clear cut.

In Montgomery, Enrichment vs. Inequality essays

In Montgomery, Enrichment vs. Inequality essays The article, In Montgomery, Enrichment vs. Inequality told of how the Montgomery Country Schools are being put under scrutiny and criticism of allowing PTAs the privately fund school construction and other major events that have great impact on one individual school. The critics are saying that the appearance and the advantage of a public school should all be the same because it gives a service to the public, not the kids in that specific tax bracket. The supporters say if they can afford to better improve their child education then why should competing inner city schools hold them down. I think this issue seems quite simple in my opinion, even though can understand the opponents of it. If the schools PTA is able to make improvements for the school then why not. The PTA is established to create a good environment for the parent teacher relationship to better help the student get a good education. And what not better help with education than better books, computers, or high tech security? I understand that not all schools have that opportunity but sometimes it seems thats the way it goes. The reason why people try to succeed in life is to supply a better life for their children, that is instilled in education. Education is the basis for everything why do so why shouldnt parents be able to provide what the government cant? This article poignantly introduces the issue of classicism in Americas schooling system. I think us, as high school students need to focus more on the issue of clasism because it is the basis of much discrimination. I think as peer trainers we need to understand economics play a major factor in the role of specific racial cultures. We cant deny the fact they shape many races futures. As peer trainers we need to be sensitive to the fact and try to get kids not to discriminate on the appearance of clothing, cars, houses, or anything that could be measured by worth. When ...

MGT 672 ROLLS ROYCE VS GE Essay Example | Topics and Well Written Essays - 2500 words

MGT 672 ROLLS ROYCE VS GE - Essay Example It helps in achieving the objectives of organizations as a whole. A strategy refers to the coordinated means by which an organization pursues its goals and objectives (book_study, n.d.) In this context, the strategies of the two leading companies in the aircraft engine industry-GE and Rolls Royce assumes significance. GE is the market leader in aircraft engine sales. It is a highly diversified conglomerate with exposure in business of light bulbs, medical devices, commercial jet engines, home mortgages, broadcasting and self storage facilities. The sale of aircraft engines accounts for less than 10% of its revenues. In contrast, Rolls Royce holds the second position in aircraft engine sales. 74% of its revenue comes from this industry. Therefore, business strategy in the aircraft engine industry is the key for Rolls Royce, while corporate strategy assumes much importance for GE (book_study, n.d., p. 10). This paper aims to study these two companies of the aircraft engine industry and comment on the differences in strategies adopted by them. From the findings of the study, the paper draws conclusions regarding the differences of business strategy and corporate strategy. ... Depending on the position of the resources in the continuum, an organization has to decide on the set of businesses it should operate and other design criteria. General nature of resources gives wide scope of business. Co-ordination is achieved through transfer of resources. Size of corporate office is small and financial control system is adopted. Specialized nature of resources narrows the scope of business. Co-ordination is achieved through sharing of resources. Size of corporate office is large and operating control system is adopted. (Collis, Montgomery, Campbell & Goold, 1999, p. 4-6) Vision & Strategy of Rolls Royce: Rolls Royce is a global company that believes in the principle of sustainable development. The Global Code of Business Ethics of Rolls Royce includes continuous improvement of production facilities, being world class in health, safety and environment management and being socially responsible. Social progress depends on economic development which can be brought abo ut by fresh, dependable and inexpensive energy and transport system. Rolls Royce has strong R & D facilities and record of innovation. It uses these strengths to develop efficient energy and transport system. Through the application of consistent business strategy, Rolls Royce has matured during the previous 2 decades. â€Å"Civil aerospace, Defense aerospace, Marine and energy† are the four global markets in which Rolls Royce operates. Of these global markets, civil aerospace accounted for almost 45% of the underlying revenue in the year 2010. (Our consistent strategy, 2011) The core characteristics underlying the strategies of Rolls Royce are as follows: Closeness to customers: Rolls Royce is an organization highly focused on its

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Role play - Essay Example 1. Have good analytical listening skills. This ability does play a significant role in leadership, for only through listening can one be able to gather as much information as possible. The modern leaders of our society that innovated the prosperity of their organizations, as well as nations, talk less and listen more. This is mainly because in listening to outsiders they can branch out of their comfort zones where everything is alright and learn of the emerging problems being incurred. In my leadership position, I utilize my analytical listening abilities by first surrounding myself with trustworthy individuals who can talk a lot and address problems experienced objectively. From this activity am also able to evaluate all the information that is supplied directly to me and thus be able to analyze how best to use this information. I do not seclude myself to only listening to the positive but majorly listen to the critical information to fully understand the depth of the problem and an alyze how it can be sorted out. 2. Ability to persevere, deal with volatility as well as adapt to changes incurred. Great leaders always create a volatility plan in place in order to implement it, should a volatile season occur. This helps to keep them on the alert and also enhance the chances of the organization dealing with volatility in an appropriate manner. In my experience volatility mainly occurs with investments and the ability to adapt to the new nature of the environment is vital and it should be done with a remembrance of perseverance. I do this in order to be able also to support and help my employees towards enduring volatile seasons of investment. I usually do have very tight plans already drawn up to necessitate some business and changes incurred during these seasons. 3. Can conduct open networking and manage relationships. Technology has transformed the modern ways of networking in business and globally a leader should

Ethnicity And Democracy In The Case Of Kenya Politics Essay

Ethnicity And Democracy In The Case Of Kenya Politics Essay Ethnicity is derived from Greek word ethnos, which means a nation or a people. The term ethnicity may also mean a race or group of people with common racial features and common cultural uniqueness. Once consciousness of being part of an ethnic group is created, it takes on a self preservation dimension and is passed from one generation to another. Also, Max Weber  [2]  defined an ethnic group as those human beings or groups that entertain a subjective belief in their common descent because of migration or colonization in such a way that this belief is important for the continuance of non-kinship communal relationships. Ethnic affiliation is deeply embedded inside peoples consciousness and is difficult for them to break away from it. Thus ethnicity is natural and innate in human beings as part of their nature, which is inevitable. Every human being has a natural inclination towards identifying with other persons whom he/she share common interests, history or origin. Mans sense of belonging makes him associate with people he/she is closely related with, which results in the formation of an ethnic group with its unique and peculiar way of life. A fundamental unity between the different persons in an African community, that is, a unity of human relationship, underlies Traditional African morality. African morality places considerable value on the conformity of the individual to the social group in order to preserve the unity of communal associations. It could be said that in a way, African thought is indeed more concerned with the relationship than with the different entities which constitute the relationship. All human behavior is thus expected to conform to this value to ensure social harmony. Kenya is a multicultural and multi ethnic country comprising of more than forty two ethnic identities each with its own unique way of life. In the opinion of this study, good governance is the starting point for Africas recovery, not only for the benefit of Africans themselves, but also to pacify western fears of failed states which may harbor volatile dissidents or terrorists. According to the Wests experience, a fundamental element of improving governance is the transition to a democratic society. While it is accepted that dictatorships tend to offer more stability, democracy if all of the conditions are met is promotive of the best outcomes in terms of human liberty. Legitimate democratic governments are less violent towards their citizens, and because they permit opposition, are less likely to result in bloody revolutions  [3]  . Negative ethnicity still remains a dominant political force and it has brought with it poverty and exploitation which have for a long time held Kenya hostage. Since Independence, Kenyan politicians have manipulated ethnic divisions for their own myopic political and economic agendas, maintaining ethnicity at the forefront of the collective psyche. Despite being a powerful tool for conflict, ethnicity has simultaneously evolved into a valuable resource for access to economic stability for corrupt politicians, and opportunities to plunder state resources. In Kenya, state fund allocation is distributed by ethnic region, creating disparities and animosities between different ethnic groups. In fact the major reason that caused the infamous 2007 post election violence and skirmishes in which over 100 people lost their lives and property worth millions of dollars destroyed, was due to the perceived marginalization of some Kenyan communities denying them access to state resources and employm ent opportunities. In terms of democratic elections, ethnic or tribal affiliation dictates loyalties. Regardless of electoral platform, the Kenyan citizenry will almost exclusively vote for their ethnic representative. In the 2007 presidential elections, ethnicity played a crucial role. Mr. Mwai Kibaki, a Kikuyu, got few votes in Nyanza province which is predominantly Luo, whereas his opponent Mr. Raila Odinga, a Luo, got minimal votes in Central province which is predominantly Kikuyu. Kenyan politics has always been practiced based on a high degree of ethnic exploitation and opportunism. Kenyan politicians frequently base their political campaigns by appealing to tribal fears, stereotypes and ethnic expectations thus relegating to the backseat broad-based genuine and ethnically inclusive and equitable democratic platforms. Because I am from your tribe, you can trust me I will not eat alone please Vote for me, with the implied meaning that you cannot trust those who do not belong to your tribe and they will not share with you the national cake. This is because voters think that having their tribesmen and women in power necessarily translates to better life for them. So when ones kinsperson loses a competitive election, violence usually breaks out. This can be explained by the fact that when an individual wins an election whether fairly or through fraud, he/she diverts all state resources to his/her region and the rest of the country has to wait for five years until elections are held for them to get a chance to have one of their own in power. Kenyans vote as ethnic blocs partly because the economic inequalities in the country has brought with it widespread poverty and political illiteracy. People who are politically illiterate and poverty stricken need basic needs like food and not freedom of thought and conscience. They do not care about their right to vote and how it affects them. Thus potential voters always sell their electors cards for a loaf of bread or for a sum of less than one US dollar to their tribal kingpins. The less fortunate are the majority in Kenya and thus more vulnerable to ethnic manipulation by crooked politicians and lords of impunity. The Kenyan electorate has become sycophantic and in most cases rarely make autonomous choices when voting due to negative ethnicity. This violates an individuals ability to exercise his/her voluntariness. This is ones ability to make a choice without being unduly pressured to make a particular choice for any specific reason. Being free in making a decision means that w e own the decision as ours and that one ought to have a better option. The principle of voluntariness removes coercion or any influence as possible so that the decision is the individuals and not someone elses. The purpose of coercion and undue influence is to do an end run around a choice or judgment so that an individual will do what he/she might not ordinarily have done in the absence of such irrationally persuasive techniques. An individuals decisions and choices at their very best ought to be as a result of his /her own self determination. The well being of a nation depends on the capacity of the electorate to choose leaders wisely and prudently. Ethnic voting patterns undermine the common good in terms of the quality of leadership since in most cases the ones whose ethnic group is more populous even if their leadership qualities are deficient, are the ones who get elected. Taken to its extreme, negative ethnicity results in coups and revolutions. In Kenya ethnicity has been used as a partial criterion for apportioning benefits and burdens among the citizenry. This practice is rampant during employment and discharge of public services in which special and undue consideration is given to a person on the basis of his/her ethnic identity. Here meritocracy is not the criterion. Negative ethnicity has undermined the common good by placing unqualified persons to positions of responsibility. It is also worth noting that the current president Mwai Kibaki has on many occasions been accused of favoring his community in making public appointments. Plum government jobs are held by people from his Mount Kenya region and Kikuyu community. It is not surprising to see key government ministries like that of Finance, Trade, energy, Provincial Administration among other plum ministries are being run by people from the presidents community. Corruption is rife in these ministries as no one is willing to blow up the whistle since it is one of their own eating (muntu wa nyumba, a slang word people from the presidents community use to identify one another). This has not only denied the qualified and deserving persons the opportunity to actualize their potential but has also led to ineffectual performance of duty and services to the public. Negative ethnicity violates the principle of equity, which allows discrimination by reference to morally relevant differences and forbids discrimination in the absence of such differences. It is fair to discriminate in favor of the needy or the meritorious or the able; it is unfair to discriminate between people who are equally able by merely appealing to ones ethnicity. Loyalty to ones ethnic group is highly celebrated in Kenya and this has become more rampant than moral rules in shaping behavior. The culture of us versus them is so ingrained in our country that politicians have coined all types of ethnic expressions and innuendos to whip up ethnic emotions among the citizenry. Phrases such as Eshienyu ne Eshienyu (ours is ours however rotten or bad it may appear to others), Kamwene (it has its owner, it belongs to us not them) have taken centre stage in Kenyas political lingo. A public office is seen to belong to a whole community by virtue of one of their own being the holder of that office. Consequently any positive criticism aimed at the holder of the office is taken to be an affront and assault on the entire community. Thus this way obligation to ones ethnic group often take precedence over those of public office, resulting in political leaders deviating from established rules and thus sowing seeds of corruption and impunity. Ethnic loyalties and other primordial ties have made political leaders develop a sense of obligation that is inconsistent with ethics of public office. Failure to discharge these obligations even if inspired by a need to follow moral rules and values may result in a backlash from the persons respective ethnic community. Ethnic chauvinism is an extreme form of collective self interests where ones ethnic group is the centre of everything and all others are scaled and rated with reference to it. Thus, ethnocentrism is responsible for many armed conflicts in Kenya and Africa at large. When ethnic loyalty becomes the guiding principle in awarding burdens and benefits in society, there is no objectivity in carrying out public appointments, awarding contracts or recommending individuals for rewards and benefits. The choices are not based on merit but on ethnic identities. Political power allocation of resources, jobs and services cannot be left at the mercy of ethnic self interest, private ownership and personal possession because this can have adverse effects on the basic inherent rights of others whose interests have been excluded. Social exclusion damages the social self thus spoiling personal identity. Social inclusion and participation in terms of access to the material conditions of well being in society is an important pre-condition for human freedom. If people are excluded from such access, the development of their social self becomes impaired. In the language of Plato and Aristotle, equal shares ought to go to equals and unequal to unequal. In Politics III, 12, Aristotle puts it thus if flutes are to be distributed, they should go only to those who have the capacity for playing flutes, that is, benefits and responsibilities should be proportionate to the worth of those who receive them. Thus it is fair to discriminate in favor of the needy or meritorious but unfair to discriminate between people who are equally needy and equally meritorious. Justice which is one of the basic pillars of humanity deals with the distribution of burdens and benefits of goods and services according to a just standard to all human beings in any society. Negative ethnicity in Kenya has hindered the growth of democracy. This is because the Kenyan electorate votes along ethnic lines. Thus the electorate will vote for a candidate who is from their ethnic community even if he/she does not have good leadership qualities. This in turn has affected the quality of leadership in our country since undeserving candidates (tribal jingoists) whip up ethnic emotions of their community to rally behind them. This has bred leaders who distribute national resources along ethnic lines. Thus one can only access national resources and privileges if he/she has a member of his/her community holding a public office. This has sowed seeds of corruption, ethnic strife and impunity. Thus it is not strange to see two communities forming an alliance to defeat a candidate from a community they consider to be their common political enemy. This cultural myopia is destructive and undermines the quality of leadership and also quality of life of the entire Kenyan citiz enry. It is also worth noting that currently a group of politicians led by the current Vice President, Mr. Kalonzo Musyoka, are at the moment touting of forming a tribal alliance called triple K (KKK) comprising of three ethnic communities, the Kamba, Kikuyu and Kalenjin so as to front one candidate whose myopic agenda is to block the current Prime Minister Mr. Raila Odinga from winning the 2012 presidential elections. Such alliances undermine democracy and the rule of law in Kenya. This has bred impunity and entrenched corruption since one can get away with theft of public resources as long as his/her kinsperson is in power. Majority of Kenyans have great expectations in the International Criminal Court (ICC) stepping in, and helping entrench the rule of law in a country in which tribe matters than law. This is because without the rule of law being entrenched in society, there can never be any meaningful democracy in a country. Socrates set the agenda of reflectively questioning common beliefs and explanations carefully distinguishing those beliefs that are reasonable and logical from those which however appealing they may be to our native ethnocentrism, even if they serve our vested interests, may lack adequate rational foundation to warrant our belief. In the opinion of this study ethnic loyalties that discriminate against others on the basis or arbitrary criterion of ones tribe undermine human dignity. Jesus Christ affirmed that Love your neighbor as you love yourself. This is the way in which dignity fulfills itself. It means transformation from being self centered. Human dignity is destroyed by self love. Self interests are good when united with others interests to form common interests and bad when fulfilled at the expense of others. Ethnic common interests as represented in a democratically organized society are the best way of guaranteeing everyone some basic means of existence. Ethnicity per se however, is not divisive or alienating when not taken to the extreme as is the case with tribal jingoists. This paper argues for the enhancement of criticality among Kenyans to curb negative ethnicity. Kenyans need to be thoroughly reflective in every area of their lives. Such criticality will enhance individuality in the Kenyan electorate. This will transform people into persons who, motivated by high order value of truth, universal well being of all ethnic communities and the inter-relatedness of humanity would transcend personal and group egoism. This will inculcate tolerance among the various ethnic groups in Kenya. A critical thinker thinks for himself/herself as an individual and only accepts what has been proved or demonstrated to the satisfaction of reason. A critical thinker cannot be short circuited in his/her decision making process so as to choose one alternative rather than another. Autonomy empowers a person to have a strong sense of personal responsibility for his/her own choices and actions. Critical thinking will minimize incidences of blind unquestioning ethnic loyalties and conformity to established cultural norms that perpetuate ethnic chauvinism and impunity..

Prime Time for Education :: essays research papers

Prime Time for Education It would be a wonderful world if we could give our children a better future. Why not start by filling their little minds with a handful of education at an early age? In Arizona it has been a controversial subject on whether to fund full day kindergarten. In my research on the subject and the experience I have had with my own children full day kindergarten is all around a wonderful idea. There are benefits for children, parents and teachers. Benjamin Franklin once said, â€Å"An investment in knowledge pays the best interest.† First let us discuss the benefits for children. Students have the potential to experience their greatest academic growth in kindergarten. In full day kindergarten research shows greater progress in literacy, math, social skills, and general learning skills. It is the year to format their attitudes toward learning. Research analyzing 23 studies of full day kindergarten indicated that â€Å"overall, students who attend full day kindergartens manifest significantly greater achievement than students who attend half day kindergarten†. As stated here, academically it is an excellent idea. Another benefit is for the lower-income families to enroll children in a higher quality early education program that might otherwise be affordable in the private market. In 1997, the Minneapolis school district began testing kindergartners. Those studies found that many students from low-income families began school not knowing the names of letters, how to count from one to 20, and some could not even recognize colors and shapes. The testing showed a significant gap between students of color and their white classmates. Since the Minneapolis School district started offering full day kindergarten they have seen an overwhelming difference in the learning of the low-income, African-American, American Indians, and Latinos. For example, the number of letter sounds acquired by full day students was 30% higher than their half day peers (Pugmire, 2002). Looking at these studies and knowing we have many low-income and diverse races in the Mesa School District there is a wonderful benefit to su pport full day kindergarten. For those students that need more time and support, giving it to them in the front end, will save a great deal of remediation and less money in the back end. Finally some benefits for our teachers; include more time to spend with students individually and in small groups (Full Day Kindergarten, n.d.), more time to communicate with parents, and more time to assess students and individualize instruction to their needs and interests (Full Day Kindergarten, n.

Paul Hogan – Shrimp on the Barbie

Imagine that you are the creator of the Paul Hogan ‘Shrimp on the Barbie' ad. Evaluate the effectiveness of this ad in exploring a ‘realistic representation of Australia. -Explain the vision you had for this ad and how it represents Australia in a realistic way and comment on your use of stereotypes. -Evaluate the effectiveness of your choice of elements (I'm guessing this meaner techniques, such as camera shots and angles, symbolism, color symbolism, Juxtaposition and colloquial language) and the impact it has on the audience.Reflect on how successful you have been in creating your advertisement and outline any challenges you faced. The ‘Shrimp on the Barbie' ad, featuring Paul Hogan, was aired twenty-nine years ago, and yet it is still the most memorable tourism campaign ever launched by a foreign country in the USA. When you mention Australia to Americans one of the first things that comes to their mind is this advertisement and most people can recall the phrase â€Å"throw a shrimp on the Barbie†.Actually the phrase has become so well known that hat it is hard to see how it was able to reach this level of recognition and retention when marketing technologies in those days were far from modern global ‘present everywhere' sophisticated media. Considering the relatively modest penetration of advertising in the past, the Paul Hogan ‘Shrimp on the Barbie' ad was very effective in doing what it was made to do which envisioned the ad to become popular in the US to promote tourism in Australia. Without a doubt this was done very successfully.In the perception of many Americans, Australia was regarded as a very different, assistant place, with different, sometimes bizarre way of life. The typical stereotypes about Australia widespread in America included a strange accent with specific slang, barbeques everywhere and every time, kangaroos Jumping all around, wrestling crocodiles, laid back and casually dressed people, dangerous lo oking Aboriginal people and so on. My ad used references to several of these stereotypes such as showing wildlife, desert and beach landscapes and of course Australian way of talk including the famous phrase of â€Å"throw a shrimp on the Barbie†.The barbeques in question featured Paul Hogan on a yacht in Sydney Harbor, looking relaxed, wearing casual dress, surrounded by women wearing bikinis and men wearing Just pants. He was obviously enjoying such company and was inviting others to Join him and taste his hospitality. To broaden the appeal Paul Hogan was in the desert and also on the beach trying to show some of the things that the tourists may be able to experience here. Among them would be Sydney Harbor Bridge, Sydney Opera House, Centre Point Tower and other landmarks throughout Australia.Throughout the video, I have used the element of colloquial language best embodied in the line of throw another shrimp on the Barbie'. Since the advertisement was aired, this line has been associated with Australia even though ‘shrimp' is an American word tort ‘prawn ‘. The reason tort this was to avoid contusion between the two words and therefore use the American version; creating the impression that Americans are warmly welcome and will feel at home in Australia.The varied use of camera angles including high, low and straight, have been useful in representing efferent views and perspectives on Australia, showing the dominance if filmed from a low angle, inferior if filmed from a high angle and even if filmed straight. Camera shots have been utilized in the sense to focus on a main point of interest or emphasis an object that is significant through long medium and close up shots. Example, when Paul Hogan was talking to the audience, the shot was a close up, which can also be described as a demanding gaze as when he was looking the audience straight in the eye requiring attention.The application of color symbolism as been used to change the atm osphere as the lack of saturation and use of brightness creates an illusion of happiness and exhilaration, making people want to come to Australia. At the start of the video, the desert and beach have been put right next to each other in slides; the purpose of this was to show the diversity of the different habitats and landscapes. Overall the use of all these elements/techniques have been very successful as they have put in the minds of the audience that Australia is an exotic country which would be a top of the list holiday destination.Creating the advertisement was not an easy task that required a few days, it took time and consideration of all the different things that should be included into the video such as the way to manipulate the different stereotypes and use the different elements in an effective way. A few of the challenges, I faced was the suggestion of Americans might not be able to understand what ‘prawn' meant which then changed into ‘shrimp' and what per sona to chose which would represent Australia and at the same time be well-known in America and therefore appealing to American audience.

Marginal cost curve Essays

Marginal cost curve Essays Marginal cost curve Essay Marginal cost curve Essay Marginal cost curve A curve that graphically represents the relation between the marginal cost incurred by a firm in the short-run product of a good or service and the quantity of output produced. Diagram: Marginal cost curve. * The MC curve is generally increasing. This is due to the decreasing  marginal productivity  of   labour. (Referred from econ econmodel. com downloaded on 14th May 2013). b. ) The Average Cost (AC) The average cost is the total cost divided by the number of units produced. Average cost curve – The graphical representation of average cost.Diagram: Average cost curve. The AC curve is U-shaped. This is because the ATC is made up of AVC, which is increasing, and AFC, which are decreasing. At low production quantities the decline in AFC dominates, but eventually the increasing AVC overwhelms the average costs. c. )The Average Fixed Cost (AFC) A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses that have to be paid by a company, independent of any business activity. It is one of the two components of the total cost of a good or service, along with variable cost.Average fixed cost curve A curve that graphically represents the relation between average fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. Diagram: Average Fixed Cost Curve: * AFC curve is always declining with quantity. This is because the same amount of fixed costs  is being averaged over a growing quantity of output, leading to a decline in the curve. * (Referred by web. pedia http:// www. amosweb. com downloaded on 14th May 2013). d). The Average Variable Cost (AVC) A cost that change with the change in volume of activity of an organization.Average variable cost  (AVC) is an  economics  term that refers to a firms  variable costs  (labour, electricity, etc. ) divided by the quantity (Q) of  output  produced. Variable cost s are those costs which vary with output. Diagram: Average variable cost curve: * The AVC is decreasing when it is above the MC curve and increasing when it is below the MC curve. This is because AVC is essentially the average of the marginal  costs of each unit of output. This will lead to an increasing or a U-shaped AVC curve. (Referred by http://en. wikipedia. org downloaded on 14th May).Answer 2. ) Relationship between the law of diminishing returns and the concept of economies of scale: * Law of diminishing returns. The tendency for a continuing application of effort or skill toward a particular project or goal to decline in effectiveness after a certain level of result has been achieved. The law of diminishing returns say that each time we do something to receive a benefit, the benefit will be less and less. (Reference – Michale W. Newell, Marina N, Grashina : The Project Management). * Features. The main features of this law are as follows:- . ) Only one variable inp ut is varied and all others are held constant. 2. ) No change in technique of production. 3. ) Variable proportions production functions. It means more of a variable factor can be used with the constant input of the fixed factors. 4. ) All units of variable factor are homogeneous. 5. ) Adequate or standard doses of variable factor are applied. * Explanation. The law of diminishing returns means that the productivity of available  declines as more is used in  short-run production, holding one or more inputs fixed.This law has a direct bearing on  market supply, thesupply price, and the  law of supply. If the productivity of a variable input declines, then more is needed to produce a given quantity of output, which means the cost of production increases, and a higher supply price is needed. The direct relation between price and quantity produced is the essence of the law of supply. Total Product Curve: The curve labelled TP in the top panel is the  total product curve, the t otal number of goods produced per hour for a given amount of labour.The increasing slope of the TP is attributable to the law of diminishing marginal returns. Marginal Product Curve: The Marginal curve indicates how the total production of goods changes when an extra worker is hired. The negatively-sloped portion of the MP curve is a direct attributable to the law of diminishing marginal returns. Average Product Curve: The  average product curve indicates the average number of goods produced by workers. The negatively-sloped portion of the AP curve is indirectly caused by the law of diminishing marginal returns.As marginal product declines, due to the law of diminishing marginal returns, it also causes a decrease in average product. * Arleen J. Hoag,  John H. Hoag(2006), Business and Economics, pg. 122 (London: World Scientific Publishing Co. Ltd. ) Returns to scale,  in economics is the quantitative change in output of a firm or industry resulting from a proportionate increas e in all inputs. If the quantity of output rises by a greater proportion- e. g. , if output increases by 2. 5 times in response to a doubling of all inputs- the  production process  is said to exhibit increasing returns to scale.Such economies of scale may occur because greater efficiency is obtained as the firm moves from small- to large-scale operations. Decreasing returns to scale occur if the  production  process becomes less efficient as production is expanded, as when a firm becomes too large to be managed effectively as a single unit. Brit britannica. com downloaded on 19th May 2013. According to Leibhfasky, †Returns to scale relates to the behaviour of total outputs as all inputs are varied and is a long run concept. * Explanation:In the long-run, output can be increased by increasing all factors in the same proportion or different proportions. Ordinarily, law of returns to scale refers to increase in output as a result of increase in all factors in the same p roportion. Such an increase in output is called Returns to Scale. * Aspects of Returns to Scale. As in the case of returns to a factor, there are three aspects of returns to scale, viz. (1) Increasing Returns to Scale, (2) Constant Returns to Scale, (3) Diminishing Returns to Scale. 1. Increasing return of scale:-Every firm tries to earn more and more profit by multiplying its output.Initially production increases at faster rate than increase in the input. It is evident from the following schedule that by doubling additional labour and capital, output increases from 16 units to 25 units. It shows that inputs increased by 100%, whereas capital increased by 150%. By doubling, production increased from 25 to 60 showing that input increased by 100% but the output increased by 140%. this shows the law of increasing return. Thus, any percentage increase in inputs is causing a greater percentage increase in output. Increasing returns to scale are thus operative.The main cause of its operat ion is that when scale of production is increased then due to indivisibility of factors such as labour, tools, implements and machines, division of labour and specialization and many types of economies are available. On account of these economies, proportional increase in returns is more than the proportionate increase in factors of production. All these economies are only internal economies as these are related to the scale of production of the concerned firm. 2. Constant Return to Scale:-If the scale of production is further increased, it is found that the both input and output increase at equal rates i. . , at the same percentage. Thus increasing the production, the increase in output remains constant i. e. , 100%. * This situation arises, when after reaching a certain level of production, economies of scale are counter-balanced by diseconomies of scale. In mathematical terminology, that production function which reflects constant returns to scale is called Linear and ‘Homo geneous Production Function’ or homogeneous function of First degree and is important in elucidating Euler’s Theorem in distribution.This function states that if labour and capital are increased in equal proportion then output will also increase in the same proportion. 3. Decreasing Return of Scale:-The increase in percentage of input is more than the output. In the following diagram, with every increase in input i. e. , 100%, output increases at lesser than 100%, showing the law of decreasing return of scale. S. A. Siddiqui (2006), Managerial Economics and Financial Analysis, pg. 107 (New Delhi: New Age International Publishers) Returns to scale are thus diminishing.The main cause of its operation is that diseconomies outweigh economies of scale, e. g. unwieldy business, indivisible factors becoming inefficient and less productive, difficulties of control and rigidities due to large managements, higher cost of skilled labour, price of raw material going up, high tran sport charges, etc. (Reference – TR Jain and OP Khanna, Business Economics p. 142). Answer3. ) (a) ‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value’.Perfect competition: (1) buyers  and  sellers  are too numerous and too small to have any  degree  of  individual  control over  prices, (2) All  buyers and sellers seek to maximize their  profit  (income), (3) buyers and  seller  can freely  enter  or leave the  market, (4) all buyers and sellers have  access  to  information  regarding  availability, prices, and  quality  of  goods  being traded, and (5) All goods of a particular nature are  homogeneous, hence substitutable for one another. Also called  perfect market  or  pure competition. (Reference:   businessdictionary. om downloaded on 19th May 2013. ) Diagram for perfect com petition: (Referred by economicshelp. org downloaded on 19th May 2013). A perfect competition is unrealistic as many of its conditions are quite difficult to fulfil. Especially no barriers to entry, is very rare as even start up cost can act as a significant barrier. While other conditions like perfect information and identical products are though possible not common. Apart from these there are many other conditions like no transportation cost which is again highly rare.The example of perfect competition would be in agriculture. Identical products (fruits, vegetables, etc. ), and not really need any advertising. There are no barriers to enter. It is the most realistic example, in reality perfect competition does not exist. (Reference: khan academy). (b). Short Run Price and Output for the Competitive Industry and Firm: 1. Short Run Equilibrium of the Firm A firm is in equilibrium in the short run when it has no tendency to enlarge or contract its productivity and needs to earn maxi mum profit or to incur minimum losses.The short run is a period of time in which the firm can vary its productivity by changing the erratic factors of production. The number of firms in the industry is fixed since neither the existing firms can leave nor new firms can enter it. 2. Short Run Equilibrium of the Industry An industry is in equilibrium in the short run when its total output remains steady there being no propensity to enlarge or contract its productivity. If all firms are in equilibrium the industry is also in equilibrium. For full equilibrium of the industry in the short run all firms must be earning normal profits.But full equilibrium of the industry is by sheer accident for the reason that in the short rum some firms may be earning super normal profits and some losses. Even then the industry is in short run equilibrium when its quantity demanded and quantity supplied is equal at the price which clears the market. Roger A. Arnold,(2005,08) Economics, 8th ed. (USA: Thoms on Learning, Inc. 2008) In the short run the equilibrium market price is determined by the interaction between market demand and market supply. In the diagram shown above, price P1 is the market-clearing price and this price is then taken by each of the firms.Because the market price is constant for each unit sold, the AR curve also becomes the Marginal Revenue curve (MR). A firm maximises profits when marginal revenue = marginal cost. In the diagram above, the profit-maximising output is Q1. The firm sells Q1 at price P1. The area shaded is the economic (supernormal profit) made in the short run because the ruling market price P1 is greater than average total cost. Not all firms make supernormal profits in the short run. Their profits depend on the position of their short run cost curves. Some firms may be xperiencing sub-normal profits because their average total costs exceed the current market price. Other firms may be making normal profits where total revenue equals total cost ( i. e. they are at the break-even output). In the diagram below, the firm shown has high short run costs such that the ruling market price is below the average total cost curve. At the profit maximising level of output, the firm is making an economic loss (or sub-normal profits) The Effects of a change in Market Demand In the diagram below there has been an increase in market demand (ceteris paribus).This causes an increase in market price and quantity traded. The firms average revenue curve shifts up to AR2 (=MR2) and the profit maximising output expands to Q2. Notice that the MC curve is the firms supply curve. Higher prices cause an expansion along the supply curve. Following the increase in demand, total profits have increased. An inward shift in market demand would have the opposite effect. Think also about the effect of a change in market supply perhaps arising from a cost-reducing technological innovation available to all firms in a competitive market. Reference: tutor tutor 2u. net downloaded 19th May 2013. (c) The long-run perfectly competitive equilibrium for the firm:-  ¦ Economic profits bring entry by new firms. The industry supply curve shifts rightward and reduces the market price. The fall in price reduces economic profit and decreases the incentive to enter the industry. New firms enter until it is no longer possible to earn an economic profit.  ¦ Economic losses lead to exit by existing firms, which shifts the industry supply curve leftward. The price rises, and the higher price reduces economic losses.Firms exit until no firms incur an economic loss. Firms change their plant size if it increases their profits. D=P= MR = AR - the firm maximizes its profits. P = minimum short-run average cost (SRAC) The firm’s economic profit is zero. P = minimum (LRAC) - the firm’s plant size cannot be changed in order to increase its profits. Frank Machovec, (2003), Perfect Competition and Transformation of Economics, (New York: Taylor;am p; Francis e-Library, 2003). Answer 4. ) MonopolyA pure monopoly is a single supplier in a market.For the purposes of regulation,  monopoly power  exists when a single firm controls 25% or more of a particular market * Less Efficient:- * ABCPM :-Supernormal Profit (AR-AC) Q * Shaded portion:- Deadweight welfare loss (combined loss of producer and consumer surplus) compared to competitive market * Higher Prices:-Higher Price and Lower Output than under Perfect Competition. This leads to a decline in consumer surplus and a deadweight welfare loss * Allocative Inefficiency. A monopoly is allocative inefficient because in monopoly the price is greater than MC.P ;gt; MC. * Productive Inefficiency A monopoly is productively inefficient because it is not the lowest point on the AC curve. * X Inefficiency. It is argued that a monopoly has less incentive to cut costs because it doesnt face competition from other firms. Therefore the AC curve is higher than it should be. * Supernormal P rofit. Leads to an unequal distribution of income. * Higher Prices to Suppliers   A monopoly may use its market power and pay lower prices to its suppliers. E. g. Supermarkets have been criticised for paying low prices to farmers. Diseconomies of Scale   It is possible that if a monopoly gets too big it may experience diseconomies of scale. higher average costs because it gets too big   * Charge higher prices to suppliers. Monopolies may use their supernormal profits to charge higher prices to suppliers. Economic organisation(2013) Website:- economicshelp. org/microessays/markets/monopoly. html 2More Efficient:- * Research and Development. Monopolies can make supernormal profit; this can be used to fund high cost capital investment spending. Successful esearch can be used for improved products and lower costs in the long term.. * Economies of scale. Increased output will lead to a decrease in average costs of production. These can be passed on to consumers in the form of lowe r prices. If a monopoly produces at output Q1, average costs (AC 1) are much lower than if a competitive market had firms producing at Q2 (AC 2). * Monopolies Successful Firms. A firm may become a monopoly through being efficient and dynamic. A monopoly is thus an efficient. For example Google has gained monopoly power through being regarded as best firm for search engines.Tejvan R. Pettinger, Economic Dictionary,(UK: Economics Blog, 2013)Retrieved from:- economicshelp. org/microessays/markets/advantages-monopoly. html Answer 5. ) Economic governance in Australia has undergone radical changes since the 1970s. Many of these changes are associated with the market-oriented policies collectively referred to as ‘microeconomic reform’. Broadly speaking, microeconomic reform can be defined as government policies or initiatives aimed at improving the performance and/or the efficiency of industries or sectors in the economy (Forsyth 1992).Remarkably, such a quest for efficiency was not a major policy focus for much of the twentieth century in Australia. However, since the 1970s, growing pressure on the economy, together with evidence of widespread inefficiency, saw microeconomic reform become a key aspect of economic policy in Australia. The era of microeconomic reform in Australia may be divided into three main phases, with a degree of overlap. In the first, deregulatory, phase, the main focus was on rationalising public intervention in private sector markets, with the object of ‘getting prices right’.In the second phase, referred to here as the ‘privatisation’ phase, attention shifted to market-oriented reforms of the public sector, including corporatisation and competitive contracting as well as privatisation. In the third ‘competitive regulation’ phase, the idea of deregulation was replaced by regulation designed to produce, or simulate, competitive market outcomes (see also Parker this volume). The central argum ent of the chapter is that each of these phases was associated with the prominence of particular institutions and with specific tendencies in economic governance. In particular, whereas he governance models associated with the privatisation phase, the private corporation was taken as the ideal model of public sector governance. By contrast, in the competitive regulation phase, governments have relied on increasingly intrusive systems of regulation to control both public and privately-owned monopolies Privatisation often appears to be driven by political expediency and ideology rather than by economic theory. This dislocation between theory and practice led Kay and Thompson (1986) to declare privatisation in the United Kingdom a ‘policy in search of a rationale’.In fact, there has been significant economic research on optimal ownership in the past 20 years, including the comparison between government and private ownership. This work provides the basis for understanding b oth the success and failure of privatisation. Three Causes of Privatisation: Performance in privatisation must be judged on a case-by-case basis. Three key privatisations in Australia have been the Commonwealth Bank, the partial privatisation of Telstra and the privatisation of the Victorian electricity system. How do these privatisations ‘stack up’ against the theory? 1. The Commonwealth BankIn the 1940s and 1950s the Commonwealth Bank was the central banker for Australia. The Reserve Bank of Australia took over this role in 1959, placing the Commonwealth Bank in a similar position to a number of highly regulated private banks. Deregulation of the Australian banking sector in the 1980s meant that there was little if any special role for State-owned commercial banks, and the Commonwealth bank was privatised in three tranches during the 1990s. The first sale of 30 per cent of the Bank in 1991 was the first large privatisation by share float in Australia and it set the be nchmark for future sales, such as the sale of GIO and Qantas.Overall, it is likely that the Government sold the Commonwealth at a discount to its true market value (Harris and Lye 2001). But in terms of 17economic welfare it seems clear that the sale of the Commonwealth Bank made perfect sense. The bank operated in active competition with private banks and its functions were essentially identical to those private competitors. In fact, given the tendency for politicians to seek short-term electoral kudos by railing against the banking system, it is likely that continued government ownership of the Commonwealth Bank would have opened it up to political exploitation in the 1990s.In economic terms, the privatisation of the Commonwealth Bank was clearly sensible policy. 2 Telstra Telstra was formed in 1992 by the merger of Telecom Australia and the Overseas Telecommunications Corporation (OTC). Both of these were fully owned by the Commonwealth Government. Telecom Australia controlled Au stralia’s domestic telephone network while OTC controlled overseas telecommunications. In the late 1990s, 49. 9 per cent of Telstra was sold by the Government in two tranches. This partial privatisation is the largest by value in Australia, reaping over $30 billion for the Commonwealth. 1At first blush, the sale of Telstra might appear similar to the sale of the Commonwealth Bank. After deregulation in July 1997, Telstra competed vigorously with privately-owned carriers. Since then, Telstra has lost market share in both domestic long-distance calls and overseas calls. Telstra also currently faces vigorous competition in mobile telephony. 18Unlike banking, however, telecommunications involves a key natural monopoly element, the customer access network (CAN) that provides the ‘last link’ in the telephone network between a switch and a customer’s phone.Telstra owns the CAN and its private competitors rely on Telstra providing them access to the CAN in order t o compete. Telstra could eliminate its private competitors outside the CBD areas of Australia if it refused them the right to either originate or terminate calls using the CAN. Telstra faces a wide range of regulations, including retail price controls, procedures for setting wholesale access prices and rules to prevent any anticompetitive behaviour. This regulation has been modified over the past five years and in 2001 the Productivity Commission recommended further reform of Telstra’s regulatory regime (Commonwealth of Australia 2001).In 2002 the Federal Government investigated and rejected reforming Telstra by accounting separation to ‘isolate’ the CAN. The partial privatisation of Telstra failed to adequately recognise the source of market failure- the natural monopoly CAN. Neither did it establish appropriate procedures to deal with this problem. One solution might have been vertical separation of the CAN from the rest of Telstra. The CAN could have remained in public ownership with open access while the remainder of Telstra could have competed with other telecommunications companies. Alternatively, the management of the CAN could have changed.For example, the CAN could be 19jointly owned by a number of licensed carriers. These carriers would have a mutual obligation to maintain the CAN but otherwise would compete. The sharing of infrastructure facilities between competing firms sometimes occurs with gas pipelines. Discontent with the partial privatisation has made it politically difficult to sell the remainder of Telstra. In the absence of a restructured approach to the CAN, further privatisation will simply mean ongoing costly regulation. Such regulation will continue into the future as the CAN grows in importance for data rather than voice telecommunications traffic. The Victorian electricity system The creation of a National Electricity Market (NEM) was a key part of the Hilmer reforms. This market involves generators competing to s ell power into a grid connecting South Australia, Victoria, New South Wales and Queensland. The proposed construction of BassLink will connect Tasmania to the NEM. Privatisation is not required under the NEM but private generators are able to compete with government-owned facilities. The Kennett Government in Victoria decided to sell the State’s electricity assets to the private sector.Privatisation was preceded by vertical and horizontal restructuring, including the creation of five distribution/retail companies, five competing generation businesses and a single transmission business. The total proceeds of the privatisations in the mid-201990s were approximately $22. 5 billion; second only to Telstra in terms of total revenue raised. 22By separating competitive generation from natural monopoly elements, like transmission and distribution, the Victorian electricity privatisations avoided the issues of access and competitive abuse that have dogged telecommunications.Further, s ome measures of performance, such as the reliability of the distribution, have significantly improved. 23 However, both transmission and distribution have limited scope for competition and these prices need ongoing regulation. As noted earlier, this regulation has been contentious. Political interference still occurs, as both generation prices are capped under the NEM and maximum prices for power to households are set. For example, in 2001 the Victorian Government rejected recommended increases in household power prices, leading to comparisons with the Californian electricity crisis and oncerns over the long-term viability of distributors/retailers if they are unable to pass on increased wholesale electricity prices to customers. 24 The shift to a national market has also required modifications, for example, in the face of claims of price rigging by generators. 25 Further, it is not clear that long-term competition between State-owned electricity systems and private systems is viabl e. While generation and retailing can be open to competition, a preferred approach might have been to retain public ownership of transmission and distribution lines. 1Rather than heavy-handed profit-based regulation, the ongoing operation and maintenance of these facilities might have been handled through private contractors, with the relevant governments setting transmission and distribution charges to cover cost. At the same time, electricity experience shows that privatisation is not a cure for short-term political interference in key infrastructure assets. (b). The privatisation process has slowed in Australia. But this is to be expected. Most of the obvious privatisations have been completed and both politicians and bureaucrats are realising the limitations of a naive approach to privatisation.Public pressure against privatisation has grown. Despite the Federal Government’s preference for privatising the remainder of Telstra, such a policy is currently unpalatable to the electorate. Similarly, in New South Wales attempts by senior politicians to push for electricity privatisation have been thwarted by public opposition. While privatisation in Australia is not dead, it is ‘on the nose’. The current public backlash against privatisation is a direct consequence of its naive application. Some privatisations have not worked.While these sales have raised short-term revenue for the government, they have not resulted in improved social welfare because they have not carefully considered any sources of market failure and dealt appropriately with these failures. 22At the same time, the underlying motivations for privatisation remain relevant. Government still feels the need to reduce fiscal pressures and public–private partnerships (PPP), where the government ties the private development of infrastructure assets to long-term government funding, represents a new face of privatisation.Thus privatisation continues, but under another name. Aus tralia requires an integrated approach to privatisation and regulation. Private ownership with regulation is simply one of a number of options for dealing with market problems and public policy needs to recognise the costs and benefits of alternative options. This means that some previous privatisations might need to be radically re-evaluated. For example, it might be desirable to restructure Telstra with current private shareholders owning the potentially competitive assets, while the government retains the CAN.It also means that some privatisations should proceed, such as the sale of the NSW electricity generation facilities, while some other assets, such as the Victorian electricity transmission system, might better be returned to government ownership. Finally, it means that governments should not be allowed to use privatisation as an expedient source of funds. An alternation to government accounting is required so that privatisation revenues cannot be used to prop up a governmen t budget. While this reform has already started, with analysts focusing on ‘underlying’ deficit figures that remove privatisation revenues, it needs to be formalised.Privatisation and regulation are all about incentives- and the first incentives that need to be fixed are those facing our politicians.