The Ten Principles of Economics

The Ten Principles of Economics PART 1: Principle 1: PEOPLE FACE TRADEOFFS: To get something one has to sacrifice other thing. For example, a country can spend its maximum resources for its defence but at the same time, it has to sacrifice the maximum spending for the country welfare. A society also faces tradeoffs between the Efficiency and Equity. The government generally tax rich people so that it can get the money from them and use it for the welfare of the poor people; this brings the equity but reduced the efficiency. (Mankiw,2003,p.5) Principles 2: THE COST OF SOMETHING IS WHAT YOU GIVE UP TO GET IT: Since we do tradeoffs, the people generally find out the cost and benefits that their action going to incur. For an action, one has to sacrifice something. For example: I have come here to do post-graduation but I had to sacrifice my server administrator job. A cost that given up to get something known as the opportunity cost. My opportunity cost is server administrator job, money, and time, which I had given up for the post-graduation. (Mankiw,2003,pp.56) Principle 3: RATIONAL PEOPLE THINK AT THE MARGIN: (Refer appendix (a)) One always does small changes in their plan of action to achieve maximum benefits from the process. (Mankiw,2003,p.6) This small change known as the marginal changes as it take place around edges. For example: A student who is enrolled for 1 year of education, if he/she add one more year to its study, they will be able to apply for permanent residency which incur as additional benefits but with this come the additional costs of college fees, time etc. Comparison of marginal benefits and marginal cost will be able to help you in taking the decision. Principle 4: PEOPLE RESPOND TO INCENTIVES: Behaviour of any person or firm changes according to the environmental variables like benefits or cost changes. For example: If the cost of the orange increases then the consumer will shift towards apples, as cost of orange is high. (Mankiw,2003,p.7) Principle 5: TRADE CAN MAKE EVERYONE BETTER OFF: Trade is taking place between the products that countries own not between the countries. (Chapter 1,p.4) (Refer appendix (b)) Trading between parties makes goods cheaper. For example: Trade between country A and country B will help both the countries to get goods of one another and help them to expertise in what they are good at producing. Principle 6: MARKETS ARE USUALLY A GOOD WAY TO ORGANIZE ECONOMIC ACTIVITY: Market Economy is the concept where a centralise judgment planner is substituted by judgement of millions of households and firms. The place where the households and firm can communicate with each other for services and goods is known as market and it is taken place under the influence of the price and self-interest, which helps them to take decision. For example: Taxes that impose by the government always change the goods price and decision of producer and consumers. (Mankiw,2003,p.9) Principle 7: GOVERNMENTS CAN SOMETIMES IMPROVE MARKET OUTCOMES: When a market fails to distribute the resources efficiently, it is known as market failure, which decreases efficiency. Government impose some rules to improve the market.(Mankiw,2003,p.11) For example: When the Australian government, impose carbon tax on the emission of the carbon, which will makes the firm to emit less carbon, which results in less pollution. (Kirk,2010) Principle 8: A COUNTRYS STANDARD OF LIVING DEPENDS ON ITS ABILITY TO PRODUCE GOODS AND SERVICES: The living standard in the country is depends upon the country producing capacity. In country where, more goods and service are produced in a unit time there standard of living is high as compared to the people with less productivity. For example: Living standard of a U.S. citizen is better than living standard of Mexican and Nigerian citizen as a U.S. citizen earn more than those two citizen. . (Mankiw,2003,p.12) Principle 9: PRICES RISE WHEN THE GOVERNMENT PRINTS TOO MUCH MONEY: Inflation is the state in which the price level increases in the economy. Inflation occurs when the supply of the money, which is under the hood of government, increased drastically in compare to the accessibility of services and goods in the markets.(Chapter 1, p.6) When the government produce high quantity of nations money, than it has lose its value. For example: When in Germany the average price of the commodity is tripling every month so the production of money is also tripling every month. .(Mankiw,2003,p.14) Principle 10: SOCIETY FACES A SHORT-RUN TRADEOFF BETWEEN INFLATION AND UNEMPLOYMENT: Policy that are making, to reduce the inflation led to increase in unemployment and policy to reduce unemployment led to increase in inflation this properly describe in Philip curve. This concept ends in 1970 when inflation and unemployment co-existed at their maximum peak. (TEN (10),p.3) The relationship between the inflation and unemployment is temporary. (Mankiw,2003,p.14) Answer 2: The study, which deals with the choices made by an individual and business, the way in which this choices are communicate with each other in a market environment and the effect of the government on them, is known as Microeconomics. Example: Study of people behaviour of buying more laptops? The study, which deals with the performance of the global economy and the national economy, is known as Macroeconomics. Example: Government rule and taxation on particular goods. (McTaggart,Findlay,andParkin2007,p.4). Key player, which are present in the market environment, are the producer, consumer and the government. Decision of the producer to produce goods, entering or exiting the market comes under the microeconomics, which is the individual decision of firm.(OECD,p.34) A firm will always take a decision to maximize its profit. Regulations made by the government, affect firm decision, as unnecessary restriction will increases firms cost and decreases its productivity, which results in the firm loss comes under macroeconomics. (Loayza,p.6) PART 2: Answer 3: Supply curve: A supply curve is the curve, which shows the relationship between the price of the goods and the quantity supplied when all the elements acting on the producer scheduled sales remains the same. Supply curve is upward sloping. (McTaggart,Findlay,andParkin2007,p.66). In Figure-1, as the price is increasing the supply of the apples are also increasing for 0.40 supply was 1,000 and for 0.60 supply was 2000. This implies that it follows the law of supply. Price ($ per pound) Apples per day (pounds) supplied 0.40 1000 0.60 2000 0.80 3000 Figure-1 Source: Collins Karen Demand curve: A demand curve shows the relationship between the price of the goods and the quantity demanded when all the elements acting on the consumers schedule buying remain the same. Demand curve is downward sloping. (McTaggart,Findlay,andParkin2007,p.62). In Figure-2, as the price is decreasing the demand of the apples are increasing for 0.80 demand was 1,500 and for 0.40 demand was 2,500. This implies that it follows the law of demand. Price ($ per pound) Apples per day (pounds) demanded 0.80 1500 0.60 2000 0.40 2500 Figure-2 Source: Collins Karen Equilibrium of a market: When two opposite forces balance each other, this state is known as the Equilibrium state. Market equilibrium is the state when the buyer and seller both of them are satisfied with the price of the commodity. Condition that satisfies the equilibrium is that, when the demand of the quantity is equal to the supply of the quantity. (McTaggart,Findlay,andParkin2007,p.70). In Figure-3, the intersection point of the demand curve and the supply curve is the equilibrium point where the apples demanded is equal to the apples supplied. Price ($ per pound) Apples per day (pounds) demanded Apples per day (pounds) supplied 0.80 1500 1000 0.60 2000 2000 0.40 2500 3000 Figure-3 Source: Collins Karen Answer 4: A chemical equilibrium is the state at which the rate of the forward reaction is equal to the rate of the reverse reaction. (Refer appendix (c)) This simply tells us that the rate of forming of the products is equal to the rate of forming of the reactants. (sparknotes,2009) For example: N2+3H2 à ¢Ã¢â‚¬ ¡Ã¢â‚¬Å¾ 2NH3 The reaction shows us that when hydrogen reacts with nitrogen they form the ammonia gas, NH3. During the first interaction between the nitrogen and hydrogen in the chamber, ammonia is generated. When the concentration of ammonia increases the ammonia gas start to breakdown into the nitrogen and hydrogen. When the rate of forming of ammonia is equal to the rate of decomposition of the ammonia then that state is known as the equilibrium state. (Refer appendix (d)) (Chemistry Explained,2010) When we contrast the concept of the chemical equilibrium to the concept of the economics they are the same as both the equilibriums need one condition to satisfy quantity demanded = quantity supplied, (Refer appendix (e)). At the equilibrium, the forward reaction, which is to equivalent to the quantity demanded in economics, is satisfied by the reverse reaction, which is equivalent to the quantity supplied in economics. In economics for quantity demand, there is always supply of goods, which is never ending process as in chemical reaction at equilibrium state it is also a never-ending process. Equilibrium is very important in economics because if there is no equilibrium than there will be shortage or surplus of the goods which will results higher price for goods or lower price of goods, which will make both the consumer and producer unhappy as at the equilibrium stage the price that a seller will be happy to sell its good and a buyer is happy to pay for it. (McTaggart,Findlay,andParkin2007). Answer 5: D TCS S=MC Price P* E(D=S) S D=MB TPS Q* Quantity Graph 5(i) For resource allocation we have to prove MB (marginal benefits)=MC(marginal costs) and maximum welfare = Consumer surplus + Produces surplus. In the Graph 5(i), We have supply curve S, which also represent marginal cost, and demand curve D, which also represent marginal benefits. The intersection of the curve D and S is the equilibrium that is where demand = supply which also means the marginal benefits = marginal costs. At this point the P* and the Q* is the price and quantity that will be our competitive outcome. In DES, (TCS) for the consumer surplus, P*ED represent the total consumer surplus that is maximum consumer benefits and for the (TPS) producer benefits it is the P*ES represent the total producer surplus that is maximum producer benefits. Because P* and the Q* is the competitive outcome as E is the point of equilibrium. P*ED and P*ES is congruent as DP*=SP* and angle DP*E=SP*E (P* is the mid-point of SD) In Graph 5 (i), we have proven that marginal benefits= marginal cost is the efficient outcone. Any government intervention like tax or subsidy is harmful to economy because as Taxes in the economy makes the buyer to pay more and seller to get less. Therefore, it will make the producer to produce less that is that will lead to the underproduction of the product. Subsidies that are given to producer by the government lessen the cost paid by the buyers and seller receives the high price. Therefore it will lead to produce more so over production. D TCS S=MC D S Price P* E(D=S) D3 D2 S D=MB TPS Q1 Q* Q2 Quantity Graph 5 (ii) In Graph 5 (ii), competitive outcome is P* and Q*. It shows that D2DE, is the part which we are losing (Dead weight loss) as Marginal CostMarginal Benefits, firm is producing Q2quantity, that is firm is over producing, right of Q* firm will produce more quantity. In both the cases we are deviating from the competitive outcome so it is inefficient. (McTaggart,Findlay,andParkin2007,pp.114 116). PART 3: Answer 6: When some of the free market is not able to allocate the resources proficiently then it is a market failure. (Mankiw,2003,p.151). It can be, the resources are under allocated so goods are under produced and vice-versa. The Pollution problem resulting to global warming is example of market failure.(Market Failure,2010) To overcome this situation the government can comes with some rules and regulation. For example: Australian government impose the tax on the carbon emission known as carbon tax. There is a belief in this step that, to avoid the extra tax or money to pay the people will choose to emit less carbon, which will result in the reduction in the national emissions. (Brook Barry,2009) Answer 7: I think governments tend to interfere in economic activity more than what economic theory recommends because there is always a debate between the efficiency and equity. Efficiency is a concept telling us, what is the maximum amount of output a society gets from its scarce resources. Equity is dealing with the equally distribution of the economic outcome fairly among the society. (Mankiw,2003,p.5).For this thing to explain, I am taking example of Australian Government. The government introduces the mining tax and provide an argument, that the Australian people are the candidate to receive maximum share of the profits generated by the mining. This mining tax come into action, as the mining company pay royalties to state government, which is 40% of their profits, in 2001, but in present they are paying less than 20%. (Mining Tax) Answer 8: A fundamental right of every personal, to manage their individual property and labour, is known as Economic freedom. An individual person is free to consume, produce, work, and do the investment in their way, in economically free society and protection of the freedom is by state. Movement of goods, capital, and labour is free in the economically free society. To measure index of economic freedom we measure ten modules of economic freedom on the scale of 0 to 100, 100 being the maximum freedom. The 10 modules score is totalled and average is taken out for the every country, which is index of economic freedom. Economic freedom modules, which are used for the measurement of economic freedom index are, freedom of business: free to operate the business, freedom of trade, fiscal freedom, spending of government, freedom on monetary, freedom of investment, freedom in finance, property rights, freedom from corruptions and labour freedom.(2010IndexofECONOMICFREEDOM) Four countries that have moved up the scale in 2010: New Zealand, Switzerland, Japan, Sweden. Four countries that have moved down the scale in 2010: Hong Kong, Singapore, India, United States. (RankingtheCountries,2010) Answer 9: Australia stand on the third position in the Economic Freedom Index scale of 2010. Its overall score of 82.6 in 2009 remain unchanged in the 2010 as it did not move up or down in the scale of index. Good macroeconomics policies help the Australian economy to survive the recent financial crisis. (Australia,2010) For further improvement in the Australian business environment, we can use supply chain intelligence in the business (DysonEvelynLaurel), use of the business excellence framework, (BusinessExcellence,2010) improving the environment. PART 4: Answer 10). S I1 P2 E2 P1 E Price E3 D2 P3 I2 D3 D1 Q3 Q1 Q2 Quantity Æ’Â   Graph 10 (i) In perfectly competitive grocery market, under short run, the numbers of firms are constant and each firm has certain plant size. In the Graph 10(i), D1 is a demand curve and S is the supply curve of grocery industry. E is the equilibrium point, and P1 and Q1 are equilibrium price and the quantity of grocery industry. If, there is change in demand then there is also change in the short-run equilibrium. When the demand of grocery increases (I1), the demand curve will shift towards right, D2, E2 is the new equilibrium point with equilibrium price P2 and equilibrium quantity Q2 it the point when the firm will maximize the profit by maximizing the output. When the demand of grocery decreases (I2), the demand curve will shift towards left, D3, E3 is the new equilibrium point with equilibrium price P3 and equilibrium quantity Q3 it the point when the firm will maximize the profit by decreasing the output. If demand curve shift more left than D3 than firm in grocery industry, will temporari ly close down its facility or will continue to produce Q3 quantity by bearing loss. S1 I1 P1 E1 S0 P0 E0 Price D Q1 Q0 Quantity à ¢Ã¢â‚¬  Ã¢â‚¬â„¢ Graph 10 (ii) In the Graph 10(ii), any price above the P0, firm in grocery industry will make economic profit and below P0, economic loss and at P0 zero economic profit. Demand curve is D. Supply curve of the grocery industry is S1, so things sold at P1 with Q1 quantity will produce economic profit and attract the other new firm. As new firm enter, supply will increase, so grocery industry supply curve will shift right (I1) to S0. As the demand is unchanged, market price will drop from P1 to P0 but quantity produce is Q1 to Q0 (increases). Therefore, economic profit of exiting firm in a grocery industry decreases but output from grocery industry increases. For the consumer: The consumer will able to get the grocery at lower price. (McTaggart,Findlay,andParkin2007,pp.234235). Answer 11). Using Kinked Demand Curve Model: Assumption: If the firm1 in grocery industry, increases its price than the firm2 will not follow but firm1 decreases than firm2 will also decreases its price P MC1 MC0 Price A B D MR Q Quantity Graph 11(i): In the Graph 11(i), the firm in the grocery industry having the Graph 11(i). Therefore, P is the price for the market, and D is the demand curve of the firm. If the firm increase its price P, then that firm will see that there is a greater decrease in its quantity sold because the other firm is not going to increase the price. If the firm sell, its goods below price P than there is little increase in the goods selling as other firm will also cut there price. As the demand curve is kinked so the MR, Marginal revenue is having a break AB. Maximum profit of the firm is generated at quantity Q as the marginal cost (MC) = marginal revenue (MR) i.e. intersection of MR and MC at gap AB. If there is fluctuation of MC between the A and B, the firm is not going to modify its quantity or price. If the fluctuation takes place outside the AB, so firm going to change its price and quantity. Small change in the cost is not having greater effect on price or quantity. (McTaggart,Findlay,andParkin2007 ,p.288). If the two firms collude than it may happen that, they cheat or comply with each other. In the below table after applying game theory and players are two firm, firm1 and firm2 and they play for once. FIRM1: If firm 2 cheats, and if firm 1 cheats it gets 2M and if it comply than it loses 3M so 2M is better. If firm 2 comply and if firm 1 cheats it get 8M and if it comply than it gain 4M, so 8M is better than 4M. Therefore, it tells that the Firm1 should cheats. FIRM2: If firm 1 cheats, and if firm 2 cheats it gets 2M and if it comply than it loses 3M so 2M is better. If firm 1 comply and if firm 2 cheats it get 8M and if it comply than it gain 4M, so 8M is better than 4M. Therefore, it tells that the Firm2 should cheats. FIRM 1 FIRM 2 Cheat Comply Cheat (2M, 2M) (-3M,8M) Comply (8M,-3M) (4M,4M) (Playoffs: Firm1, Firm2) According to the Nash equilibrium, both of them will cheat, as the cheating is the best strategy for them and earn 2M. If the game is played for the indefinitely than the both the firm will come to know that if they comply they have better result, that is each firm will going to get 4M, which is greater than 2M. Indefinite playing will give firm to get the best outcome. (McTaggart,Findlay,andParkin2007,p.303). Answer 12). In NASH equilibrium, one company develops its best possible strategy according to the strategy adopted by another company and vice versa. Normal equilibrium where the buyer and seller both of them are satisfied with the price of the commodity. In NASH equilibrium, there is no role of price but information and strategy plays an important role but in normal equilibrium price plays an important factor to attain the equilibrium. (McTaggart,Findlay,andParkin2007).

hepatitis :: essays research papers

Hepatitis Hepatitis In modern society when a person gets sick with the flu or a cold they will usually go about their normal routine with the exception of a sneeze or a cough throughout the day. Sometimes things can be more than what they appear to be. The symptoms start out like the flu with coughing, fever, aches, and vomiting. However, the disease gradually worsens with symptoms of extreme weakness and excruciating abdominal pain. By then it is usually too late when the person finds out that their liver is failing and that there disease is caused by one of the most contagious, dangerous and deadliest of viruses. These viruses that were initially concealed by flu like symptoms are now known collectively as the disease of Hepatitis. The disease of Hepatitis is actually by six different types of viral infections, namely, Hepatitis A, B, C, D, E, and G. Hepatitis descries the destructive affect of the viral invasion of the body and liver by six and separate viruses. Each type of viral infection varies from one to another in degree of severity. The names of the viruses are in alphabetical order corresponding to their discovery. There is also a non-viral Hepatitis which is caused by substance. One rumor that has spread about hepatitis is that a person can only contract Hepatitis if associated with HIV or AIDS. This is not true! Any one can become infected with Hepatitis. Unfortunately this is about all most people know of Hepatitis. They need to know the full horror of which the virus is capable. The first of the Hepatitis viral infection to be discovered is Hepatitis A. Hep. A is the mild mannered virus compared to the other viruses. It has the symptoms of influenza, fever, vomiting, loss of appetite, and weakening of body, but it does have some differences such as jaundice (a yellowing pigmentation of the skin and whites of the eyes) and urine appears to be a darker color. Jaundice is caused by an abundance of bilirubon which has not been removed from the blood system due to the infected liver. Hep. A does not have any special medications or antibiotics that can be used to treat or prevent this unpleasant virus. Some ways of avoiding this viral infection include washing the hands very carefully and not eating food or drink of others. People living in the same house or having close contact should clean the area very thoroughly.

Free College Admissions Essays: I Screwed Up! :: College Admissions Essays

I Screwed Up! Â   High school is a strange time. After three years of trying to develop identity and friends in middle school, students are expected to mature immediately on the first day of ninth grade, but I never did this. I never fully realized in the earlier grades how important high school success, as measured by GPA, would be to my future life, and as a result I am applying to college with seemingly contradictory measures of my ability to perform college-level work. If I had worked and studied hard rather than hanging out with friends and viewing high school as an opportunity to socialize, I would not have to apply to school with a 1300 SAT and a 2.7 GPA. Had I taken my grades in my earlier years seriously, I could have been a college's dream candidate. Â   This year I have made an earnest effort to improve my work ethic. My grade point average is rising and my study habits are improving. However, after performing poorly for three years, my GPA cannot reflect the transformation I underwent at the start of this year. Dedicated to making something of myself, I finally matured and am now trying to lessen the consequences of my past actions. Armed with my new attitude and my understanding of the extreme importance of earning good grades to signal my capacity to work responsibly, I assure you that I will never revert to the student I once was. Â   In retrospect, I believe that it was my inability to choose my classes that resulted in my lack of enthusiasm on the ride to school each morning. I enjoy the freedom to pursue my own interests and anxiously anticipate the ability to choose my own class schedule in college. While I understand that college will be significantly more challenging than high school, I have always found it easier to study for a class that interests me. I am also willing to accept the fact that as long as I am in school, I will be forced to take required courses that I might be less than enthusiastic about. However, with my new goal-oriented nature, I realize that I am working towards my college degree and my future success, and I have regained the drive to excel. Moreover, I now realize the emptiness in the lives of people who can only do one thing well.

Chaim Potok Research Paper

The Story of Chaim Potok There have been many innovational authors throughout all of history, from R. L Stein, to Shakespeare, to Roald Dahl to J. K. Rowling. They all have different stories that have seriously impacted the literature world in unique ways. An essential author to add to that list is Chaim Potok, who not only was an outstanding author, but was also a very inspirational religious icon for many Jewish people in the world. Potok was born in New York City in 1929. He was raised in the Hasidic faith of Judaism.He grew up in a household where a high class of edicate and manners were enforced (Newsmakers. Detroit: Gale, 2003). Due to his way of life he later on developed tight grasp of art. His parents highly disapproved of this and did not want him to â€Å"waste his time† with this. In the Jewish household painting is seen as the least acknowledged and ambitious hobby. Potok attended Yeshiva University, and became a rabbi after graduating. He began rabbinical studies at the Jewish Theological Seminary in New York. He soon received his master’s degree in Hebrew literature.In 1954 he served as a chaplain for the United States army while posted in South Korea. Later on throughout his life he began a teaching post at the University of Judaism. As years of study flew by this motivated Jew, he managed to earn a doctorate in philosophy in the University of Pennsylvania. The next Two Years flew right by, leading to the event of him writing his very first novel, The Chosen One, which was the very first novel ever to have a Hasidic Jewish setting (Contemporary Authors Online). This was a serious impact and appraisal of the Judaism Religion.This life unique novel was on the New York’s best sellers list for approximately 6 months. Potok elaborated expanded his new style of writing-by-writing more books on the daily life of Jews and child’s stories. Potok had a unique style of writing followed by a look of religious influence as well. H e usually conveyed the theme of Judaism/Hasidic through his precise use of characterization and dialogue. The majority of his beautiful creations were about how everyone should have some sort of faith in their lives and how religion has a huge impact on modern day life.Potok wrote about Jewish culture was viewed directly from the shoes of a very own Jew. He frequently focused on the issues and controversies in the Jewish Culture. Most of his life and works of literature were dedicated to his very own religion and faith, which was portrayed through his own writing. Potok received multiple awards for his unique book (St. James Guide to Young Adult Writers). The Chosen One was on the New York Time’s bestseller’s category for about 6 months, that is some very outstanding time to be a bestseller especially since Judaism is one of the least popular religions in the U.S. As the years passed his literature career slowly declined in success and popularity due to critics claimin g his unique style of writing wasn’t that professional, very mediocre, and not nearly as polished as his original creations. He was criticized according to that manner the following, â€Å"In The Beginning,† â€Å"The Book of Lights,† and â€Å"DaVita’s Harp† (St. James Guide to Young Adult Writers). â€Å"He wrote in a straightforward pose that some critics found unpolished and other likened to that of Hemingway. † said the New York Time’s Fox.On the other hand, many other critics loved and admired Potok’s love for his religion, the need to express his feeling about Jewish beliefs from a first person perspective, and the fearlessness in his writing tone. â€Å"Although his writing angered and scandalized some Jews, others applauded it his belief in the Jewish faith† Said critics from the Los Angeles Times. Chaim Potok died on July 23, 2002 due to the spread and intensity of brain cancer he had been diagnosed with. He di ed at the age of 73 years old. He was a motivating, inspirational, and phenomenal author that will never be forgotten throughout the Jewish culture.His name will be remembered as one of the most inspirational writers of all time, as well as a huge religious icon. Although critics often downsized him, he will always be known as being one of the greatest American Jewish writers of the 20th century. â€Å"Chaim Potok. †Ã‚  Newsmakers. Detroit: Gale, 2003. GaleBiography In Context. Web. 1 May 2012. â€Å"Chaim Potok. †Ã‚  St. James Guide to Young Adult Writers. Gale, 1999. Gale Biography In Context. Web. 1 May 2012. â€Å"Chaim Potok. †Ã‚  Contemporary Authors Online. Detroit: Gale, 2007. Gale Biography In Context. Web. 1 May 2012.

Be An Anthropologist

1. The concept of descent with modification, or evolution, has a great deal of evidence in its support. Indicate the major types of evidence? The concept or idea that species change and evolve into new and different species was described and was an established concept in Darwin's day this was described as descent with modification. The Concept of descent with modification has major evidence in support, in fact we no longer refer to the this adaption as descent with modification, rather it is now called biological evolution. According to our text species of living things are related in some fashion similar to a branching tree.However the process is not quite that simple adaption relies on several processes and to prove this or the evidence used to confirm this is ecology. Science uses the habitats of living organisms to explain the relationships between the organisms. Secondly scientists uses the concept of niche which is the adaptive response to an environment. In addition to this in formation science uses geological and fossil records to explain the changes and diversity that have happened between species over time,through the concepts of natural selection. Scientists believe each fossil is a piece of evidence about the way species adapted and the changes that took place over a period of time.â€Å"Humans are Old World primates† Humans however have striking similarities as well as differences from that of the chimp or gorilla. For instance vision human vision is the same as any other diurnal primate meaning we clearly see the same as monkeys and apes. Our sense of smell is the same as that of the anthropoid primate or ape. Similarly our behavior patterns are closely resembled of most old world apes, humans live in societies that -are based on collective conscious responses of a group of individuals.However as I mentioned before humans also have significant differences from that of other primates, for instance human growth, maturity, and reproduction is c learly different humans birth twins one out of every two-hundred and fifty births, human babies are born far more helpless than any other primate species. Also non human primates mature much more rapid than that of a human. The human brain is far more larger that that of any other primate human brains are three-times the size predicted against human body weight thus a larger brain indicates human primates are more intelligent than that of other primates like monkeys, or apes.3. Distinguish between members of genus Australopithecus and Paranthropus in terms of time, location, and physical features The earliest known and accepted fossils are categorized as Australopithecus or the southern ape. A well known and famous fossil known as Lucy belongs to this fossil group, fossils of Australopithecus's have been found in areas such as Ethiopia, Kenya, Tanzania, Chad, and South Africa and are dated as far back as 4.2 – 2.3 MYA.These primates are known as bipedal apes meaning they walk ed upright, members of this primate group also had facial features that were apelike, had brains half the size of chimpanzees, and weighed on average of one-hundred and five pounds. It is thought these primates adapted to arboreal and terrestrial environments because dental exams of their teeth indicate a diet rich in vegetables, fruits, and leaves. On the contrary members of the Paranthropus primates have fossils that have also been recognized these fossils have been found in places like: Kenya, Tanzania, and South Africa which are dated as far back as2.8 – 1MYA. This species was thought to have been robust in terms of features relating to eating/chewing. It was discovered this species has a skull features that indicate important chewing muscles, broad dished out faces, and large cheek bones. All traits point to diets that consist largely of vegetables, fruits, and any other foods thought to be found in open areas.4. Explain why variation in skin color is of no use in defini ng human races.In trying to use information that I have learned over the course of the last few days, it would be no use in trying to define the human race based on skin color because all humans have essentially come from the same place meaning we have all developed through evolution. Basically my understanding was that people/ humans ultimately developed stronger or weaker pigment depending on where there lived after the evolved for instance darker people may have come from hotter places where a deeper or darker pigment was needed to protect a person from the sun. Or on the other hand a lighter person assumed lighter pigment because they did not live on a place so hot so their skin or pigment adapted to the area in which they lived.

Barack Obama - Second Weekly Transition Address

Barack Obama Second President-Elect Weekly Transition Address Broadcast 15 November 2008 Today the leaders of the G-20 nations, a group that includes the worlds largest economies, are gathering in Washington to seek solutions to the ongoing turmoil in our financial markets. Im glad President Bush has initiated this process, because our global economic crisis requires a coordinated global response.And yet, as we act in concert with other nations, we must also act immediately here at home to address Americas own economic crisis. This week, amid continued volatility in our markets, we learned that unemployment insurance claims rose to their highest levels since September 11th, 2001. Weve lost jobs for ten straight months nearly 1.2 million jobs this year, many of them in our struggling auto industry. And millions of our fellow citizens lie awake each night wondering how theyre going to pay their bills, stay in their homes, and save for retirement.Make no mistake: This is the greatest economic challenge of our times. And while the road ahead will be long, and the work will be hard, I know that we can steer ourselves out of this crisis, because here in America we always rise to the moment, no matter how hard. And I am more hopeful than ever that America will rise once again. But we must act right now. Next week, Congress will meet to address the spreading impact of the economic crisis. I urge them to pass at least a down-payment on a rescue plan that will create jobs, relieve the squeeze on families, and help get the economy growing again. In particular, we cannot afford to delay providing help for the more than one million Americans who will have exhausted their unemployment insurance by the end of this year. If Congress does not pass an immediate plan that gives the economy the boost it needs, I will make it my first order of business as President. Even as we dig ourselves out of this recession, we must also recognize that out of this economic crisis comes an opportunity to create new jobs, strengthen our middle class, and keep our economy competitive in the 21st century. And that starts with the kinds of long-term investments that weve neglected for too long. That means putting two million Americans to work rebuilding our crumbling roads, bridges, and schools. It means investing 150 billion dollars to build an American green energy economy that will create five million new jobs, while freeing our nation from the tyranny of foreign oil, and saving our planet for our children. It means making health care affordable for anyone who has it, accessible for anyone who wants it, and reducing costs for small businesses. And it also means giving every child the world-class education they need to compete with any worker, anywhere in the world. Doing all this will require not just new policies but a new spirit of service and sacrifice, where each of us resolves to pitch in and work harder and look after not only ourselves, but each other. If this financial crisis has taught us anything, its that we cannot have a thriving Wall Street while Main Street suffers. In this country we rise or fall as one nation, as one people. And thats how we will meet the challenges of this time together. Thank you. Source:Â  https://www.loc.gov/ Source: https://en.wikipedia.org

Productivity and Cost Essay Example | Topics and Well Written Essays - 1000 words

Productivity and Cost - Essay Example â€Å"In the long run there is a positive relationship between improvements in labor productivity and the real wages paid to labor as a factor of production. Millions of employees in the modern labor market have some element of performance-related pay in their overall earnings package.†(Gain from Higher Productivity, Higher Real Wages). Productivity of labor is number of unit production per day. In a strategic production decision high production output with lover number of labor is more benefit for organization in this type of production strategy will helps both the organization and labor. Management firstly identifies each labor’s productivity to determine in which area they can work more effectively, and properly split the production process. Then they allot each labor the work of their area of expertise. This type of production method can help the organization to achieve maximum output and laborers can earn more wages. It will also help in increasing the marginal productivity of labor and marginal cost is decreased. Example: A clothing company has 10 labors each labors productivity is 3 shirts per day total productivity is 30 shirts in a day. When these jobs are split into different processes and allotted to each labor depending on their skilled area it will result in an increase in the total production a nd fixed cost incurred per unit will decrease. This production method helps to reduce the cost of production. Wage also depends on the demand and supply of labor. High availability of labor may cause a decrease in wage and higher demand for labor can cause increase in wage. Labor productivity also relates to organization’s total cost of production. Costs including fixed and variable cost also relate to labor productivity. A firm’s strategy for reducing their cost of production by resorting to high productivity labor can make