Economics for Business Essay Example | Topics and Well Written Essays - 1500 words - 1

Economics for Business - Essay Example Non economists believe in the existence of giffen goods which have an up-ward sloping curve, Veblen goods are the ones whose demand decreases with decrease in the prices and the inferior goods demand decreases with increase in income. Depending on where the VM products lie, this will determine the likely shift on demand. Loyal consumers of VM products will have the services delivered on demand. Demand is the economic want backed up by purchasing power, demand curve represents the amount of a good that buyers are willing to purchase at various prices assuming all other non price factors remain constant i.e. at ceteris paribus. In a free market, quantity demanded and quantity supplied depends on the market price. In our case the decrease in demand is likely because shifts in the demand curve towards the left.1 In our case of VM the demand of the services will be affected by the non price factor. For the consumers to continue demanding its services, they have to improve their terms with them. As the VM claims that the SkyB is coerce with its customers, meaning that they are competing firms and therefore it's a substitute for the VM consumers. To mitigate these consequences of the likely decrease in demand, it can lower the prices for the customers who demand for their services and this is likely to increase its demand against that of its competitors if there is free market a d therefore has a bigger market share. It can also improve the quality of its services that it delivers to its customers; this is because the demand of a normal good is likely to increase with its increase in its quality. VM can also promote isits products through public awareness, this can be done through advertising, sales promotion, offering free services at certain time, and it can also use road shows. 2 Question two Market is a group of buyers and sellers exchanging goods that are likely substitutable for one another. Markets are defined by the demand conditions that exist; they embody the zone of consumer's choice for the goods or services. Markets exists in two dimensions- a. Product type b. Geographical area Market structure refers to the selected number of organizational characteristic of the market that establishes the relationship between buyers and sellers of a certain product; market structure analysis is therefore the study of organizational features of market that is believed to have significance for conduct behavior and performance of firms comprising the market. In simple theoretical analysis, the concept of market was traditionally defined as consisting of buyers and sellers of a homogenous good who have insufficiently close contact with each other that o single price prevails The major market structures are: Perfect competition: This is where the market has very many firms producing homogenous product. Monopolistic competition: This is also called competitive market, this is where there are very many firms and each commands a small share of the market share.] Oligopoly: This is where the market is dominated by many small firms which own more than 40% 0f the market share. Oligopsony: This is where the market is dominated by a few buyers with many sellers Monopoly: This is where there is only one provider of a certain product. Natural monopoly: This is a monopoly in which economies of scale cause efficiency to increase as the firm

Kinetic Theory of Matter Essay Example | Topics and Well Written Essays - 1000 words

Kinetic Theory of Matter - Essay Example The paper tells that the Kinetic theory of matter is a theory that describes states of matter.   There are three states of matter namely solids, liquids, and gases. This theory states that matter is composed of particles that are in constant motion. These particles are either atoms or molecules. The particles in solids cannot move to another location but they can only vibrate because they are closely held to each other. There is enough space in liquids and therefore the particles are free to move but they attract one another. In gases, there is enough free space since the particles are far apart. As more Kinetic energy is gained by the particles, the components of matter change their state; solids change into liquids and liquids change into gases. Kinetic energy is as a result of heating the particles thus making them move apart from one another. The Kinetic theory is based on the fact that when heated, the molecules quickly vibrate and some of it moves from the matter. The physica l states of matter can be explained by the kinetic theory. Heat is a form of energy that is being transferred from region to another. The energy transfer is as a result of thermal contact or thermal radiation and occurs at different temperatures of the systems. Nuclear reactions such as those that are responsible for the burning of the sun release heat. Insulators can also be used to trap heat for a limited time. Energy is transferred through three modes namely conduction, convection or radiation, depending on the medium through which it is being transferred.... It can either be forced or free convection. In radiation, there is no contact between the objects in which the heat transfer is taking place. The transfer takes place through electro-magnetic waves, and does not require a medium. Heat is measured in joules. Temperature Temperature is the measure of the amount of heat energy in a body and the capacity for heat transfer. It can also be defined as the measurement of the mean kinetic energy of molecules in a system. The apparatus that are commonly used in the measurement of temperature are the thermometer and calorimeter. The SI unit for measuring temperature is the centigrade (Celsius), although in physics the Kelvin scale is often used. Warmth or coldness can be felt from contact with an object and this describes the object’s temperature. Relationship between heat and temperature As mentioned earlier, heat is a form of energy that is being transferred from one region to another while temperature is the measure of the amount of h eat energy in a body and the capacity for heat transfer. Therefore, the amount of heat determines the temperature of a body or a region. An increase in heat energy increases the kinetic energy of molecules thus making them to move faster resulting to a rise in temperature. In addition, how fast or slow the molecules move is determined by the amount of heat energy they possess. There is a direct relationship between heat and temperature in that as the kinetic energy of molecules is increased, the temperature also increases. Differences between heat and temperatures Though the two concepts are closely related, there is a distinction between them. Temperature is the amount of inner energy of a system. On the other hand, heat is a measure of the transfer of energy from a system to

Amputation Mishap Negligence Essay Example | Topics and Well Written Essays - 1000 words

Amputation Mishap Negligence - Essay Example A malpractice on the other hand occurs when a doctor, a hospital, or any other medical professional, causes an injury through omission or negligence to a patient. Malpractice can also be viewed as professional negligence, where a surgeon or any other professional testifies that his colleagues would regard his practice as not proper. All malpractice may involve negligence, although all negligence may not be malpractice. If a nurse fails to present medications as prescribed, and consequently the patient’s condition gets worse or results in death, the nurse will be indeed negligent. In cases where a nurse fails to pay attention to his or her tasks or has inadequate skills, it may lead to a suit of negligence to one who does not give approved care standards (Helm, 2003). Good nurses know their obligations and communicate well with their patients and physicians. Such nurses are aware of board practices and regulations within legal guidelines. Most nurses have no issues with committ ing negligent acts provided and they adhere to the confines of required practices, protocols, and legal hospital guidelines. I do agree with the article that what was practiced by the doctor, the hospital management, and the neighboring staff is total negligence. It is man’s nature to make errors at times, but mistakes that lead to harm on individuals could be perceived as negligence. In the Neighborhood newspaper, Mr. Benson’s amputation was an irreversible act. The doctor amputated the wrong leg, a fact that still remains a dream to Benson. The dilemma is whether the doctor was negligent in his practice or not. Here, the doctor was definitely negligent. This is due to the reason that the surgeon did not act exactly the way any other surgeon would have acted if in the same practice. Worse of all, not all the measures were considered to make sure that the right leg be amputated. Several cases of the same type have happened in history and procedures invented so this mis take would not occur again. Surgery is to be carried out after the right procedures have been put in place. Staff members in the operating room have to take time in ensuring that the correct patient is in the room awaiting the right surgery. In Benson’s case, the nurses at the neighborhood hospital kept quite on the case. If the nursing staff and the doctors in the operating room were keen on the practice, then this incident could not happen (Oberman, 1996). Quality documentation is vital in providing care and due to the present healthcare system; patients who claim to have sustained psychological or physical harm resulting from the negligence of their health providers can bring their lawsuits and claims to recover damages. A medical record acts as a legal document to be used by the injured patient for other legal proceedings or against other personnel since it is a permanent record. Correct documentation in the medical records develops legal data which completely and accurat ely reflect the care offered to the injured patient. In a court of law, it acts like a witness who gives facets about the events. If there is no evidence from the records then it is assumed that the negligent act never happened. Documentation is also important to the health providers; especially in civil litigation where there is alleged nursing malpractice or negligence it can

A report into the Importance of smoking cessations IN patients with Essay

A report into the Importance of smoking cessations IN patients with COPD - Essay Example This paper will now critically evaluate evidence-based practice on the impact and the importance of smoking cessation among COPD patients. This topic is of importance because smoking is a major issue among COPD patients and the importance of smoking cessation has to be supported with evidence in order to provide practitioners as well as patients with logical foundations for their actions or inactions. Evidence-based practice has been considered one of the most crucial improvements in the health practice (Hjorland, 2011). Its application has assisted health professionals in the assessment of the most current evidence in the administration of patient care. The significance and multidisciplinary application of evidence-based practice is based on ideology and method (Hjorland, 2011). The ideology is based on ethical principles of clients deserving to be given the most effective of interventions. The method is the means by which individuals go about discovering and then later implementing the interventions (Duffy, Fisher, and Munroe, 2008). Under these conditions, evidence based practice indicates the commitment of the practitioner to use all the different means by which the strong evidence for any given situation can be applied (Duffy, et.al., 2008). Establishing best knowledge would require computer searches; moreover, it is a major challenge among practitioners since the techniques of finding effective interventions often require rigorous processes (Raines, 2008). Where practitioners applying empirically-based practice would make do with the use of two or three studies as evidence of effectiveness, evidence-based practice often involves the long and protracted search for numerous evidence to support efficacy (Raines, 2008). Evidence-based practice also involves the critical appraisal of evidence, mostly in terms of validity and utility within practice.

Young College Female Students in early 1960 to 1963 Research Paper

Young College Female Students in early 1960 to 1963 - Research Paper Example It has become one of the basic needs alongside the other needs like food, shelter, and clothing. The need for education traces its roots to the ancient times with the need to read, write, and perform some arithmetic operations that were necessary for daily activities. Education enables individuals to understand different aspects of life in order to lead a positive way of life. It determines career and enables an individual to earn a living. Education at a higher level involves a form of training that equips individuals with knowledge and skills that can be used in different production practices. It helps individual develop a profession. It is a tool used to empower women and the marginalized groups. Education enables individuals to understand their rights and the roles that they should play in the society. Societies comprise different categories of individuals some of which are marginalized. Females and the minority groups have been the subjects of such forms of discrimination in the societies in the past. Education is essential in preventing and managing such kinds of discrimination. Access to education is affected by different social and economic factors. The financial status of an individual may deny one access to higher education that is quite expensive in most countries. The social factors like the culture that prevails in a given society may also influence access to education. In the olden times, more values were given to the males as compared to the females. In such cultures, females were not allowed access to meaningful education. The females were arguably destined to marriage and it was considered meaningless giving them higher formal education. This practice was witnessed in different parts of the world up to the twentieth century. The availability of the learning facilities is also another factor. Proximity to the educational centers can affect an individual’s access to education. Education saw significant developments across the globe over th e last century. It was observed that the number of students enrolled in tertiary colleges in the world increased over two hundred times from 500,000 students in 1900 to over 100 million in 2000.1 The proportion of female enrollment has also increased considerably in the recent decades. Various initiatives have been established in different countries aimed at empowering women and other disadvantaged individuals in the society. Various women activists have emerged to fight discrimination against women through promoting education of the girl child. The modern family planning methods have also enabled females to carry on with their education beyond high school. In the older days, women got married and were in the family way at their early twenties- mostly before college education. Thus, the enrollment of female students in institutions of higher learning changed significantly from the last half of the nineteenth century and the beginning of the twentieth century. Similarly, the enrollme nt of females in the colleges in the mid twentieth century is significantly different from the current women enrolment in colleges across the globe. This paper focuses on the college enrollment of female students in the United States in the early 1960 to 1963. The pattern of female enrollment that was seen before this period as well as the patterns that have been seen in the following period is also examined. The paper also focuses on the factors that could have contributed to the changes observed in the enrollment patterns. Thesis statement Despite the difficulties that the activists have encountered in the reform movements, female education has improved over the last decades with the female enrollment

Read the attached article and answer the questions Essay

Read the attached article and answer the questions - Essay Example It can be seen that the Gini coefficient of some countries is close to 0.0 while others are more than 0.5. This is because of differences in the income inequality. Countries like South Africa have a high rate of inequality which brings the Gini coefficient to 0.6 while Scandinavian countries like Sweden maintains the Gini coefficient for disposable income at 0.25. Beddoes goes further to show that the economic differences of the countries around the globe are increasing; for example in America, Gini for disposable income has shot up by 30 percent as from 1980. In China, the Gini coefficient it has gone up to 0.42, which shows an increase of nearly 50 percent. Sweden is no exception, since the Gini coefficient for disposable income increased to 0.24. Because of the differences of the economies of the countries, others being poor and others rich, the economic inequality has risen as from the 19th century to the 20th century. The first cause of income inequality is because the countries which were rich economically started intensifying as from the 19th to the 20th century than the poor nations (Beddoes 4). This can be supported further by the sprout of the industries which brought in rural to urban migration. Another cause is the treatment of people in the middle and bottom of the income distribution as compared to those one at the top. The ones at the top were bailed out when they fail to pay their debt while those in the middle and bottom would lose their assets. Furthermore, the tax levied on people of different level causes big inequalities; it is evident that the rich and the poor are taxed at the same rates. In European countries, the income inequality rose because of the industrial revolution, which can be explained by the fact that mill workers’ incomes were high as compared to rural workers (Beddoes 9). On comparing this to America, it is seen that the income difference widened mainly because of education that caused the higher income class to rise higher than the lower income classes. The education factor also has a racial factor, where minorities received lower education levels than majority racial identities. The same education factor is also seen in many other countries like Asian countries. Other factors in the American system include taxes that favored higher income individuals over low income individuals. According to the Beddoes (23), there are three main strategies that would be used to reduce inequality in both developed and developing economies. One of the first reforms needed is to curb cryonism and enhance competition in emerging markets. This can be done by reducing the powers that monopolies have and spreading competition among all markets. Having a freer economy, which can be achieved by freeing monopolistic markets, would go a long way in reducing inequality. This can also be done in advanced countries by removing subsidies from big corporations, which would serve to balance up the economy. The second strateg y proposed by the (Beddoes 23) is to have targeted and progressive social spending, especially in countries with emerging economies. Beddoes suggests that a shift in social spending factors in all economies would reduce inequality. For example, one of the best models is the Latin American one, where countries are encouraged to spend more in education and investment opportunities in talented individuals. The last

Coronary Artery Bypass Graft Surgery (CABG) Essay

Coronary Artery Bypass Graft Surgery (CABG) - Essay Example This substance blocks/narrows the coronary arteries thereby decreasing the blood that flows to the heart muscle. Severe blockage can lead to heart attack, shortness of breath, and chest pain or discomposure/angina. One way in which CHD is treated is through CABG, whereby a cardiothoracic surgeon grafts/connects a healthy vein/artery from the body to the obstructed coronary artery. The grafted vein/artery bypasses the coronary artery’s obstructed portion, which forms a new passage, and the surgeon routs oxygenated blood around the obstruction to the heart muscle (Nih.gov, 2010). Parks explains that a bypass usually involves open-chest surgery as well as making use of a heart-lung bypass machine for circulating blood and oxygenating it. He gives a number of newer, bypass surgery methods that are less invasive and that can be used in place of open-chest surgery in some cases. One such technique entails the use of minimally invasive procedures/keyhole procedures in place of open-c hest surgery. Keyhole procedures involve the use of a number of smaller chest openings and they may not or may call for the use of a heart-lung machine. In procedures where a heart-lung bypass machine is not used, medicine is used to slow the heart although is continues beating during the process (Parks, 2009).