How my Dad got his job in trade.
Ryan Harman 11th October 2001 THE JOB IN TRADE Hi! I'm Paul. This is the story about how my dad got his new job. It was 3.30am. I heard a noise and saw that the light was on, so I got out of bed and crept downstairs silently. The office door was ajar, and I could see my Dad still sat at the computer. He was so engrossed in his work, he did not see or hear me approach. I went to peer over his shoulder and the floorboard creaked as I got nearer to him. He was startled and was surprised to see me but he retaliated quickly and turned off the computer monitor. He had a sealed letter in his hand, which he asked if I would post for him in the morning on my way to school. I went back to bed and my bedside clock said 4.00am. Three hours later, it was time to get up for school as it was 7.00 am. I felt very tired because of my disturbed night. On my way to school, I nipped on down the post box to post the letter. I don't know what the letter contained - should I have a quick sneak I said to myself or would that be cruel. I slowly opened the letter. It said that my ambitious Dad was looking for a job, and it also enclosed a completed application form. The job was for a position at the World Trade Centre in New York. I sealed the envelope back down and posted it in the post box and went to school. A month passed. Our local postie was strolling up to the
What is a public good?
What is a public good? What is a public good? This question can best be answered by looking at the counterpart, a private good. Private goods are typically traded in markets. Buyers and sellers meet through the price mechanism. If they agree on a price, the ownership or use of the good (or service) can be transferred. Thus private goods tend to be excludable. They have clearly identified owners; and they tend to be rival. For example, others cannot enjoy a piece of cake, once consumed. Public goods have just the opposite qualities. They are non-excludable and non-rival in consumption. An example is a street sign. It will not wear out, even if large numbers of people are looking at it; and it would be extremely difficult, costly and highly inefficient to limit its use to only one or a few persons and try to prevent others from looking at it, too. A traffic light or clean air is a further example. This poses immediately the question of who, then, provides public goods. Once they exist, they are there for all to enjoy. So it is often the most rational strategy for private actors to let others go first and seek to enjoy the good without contributing to its production. This is a dilemma, that public goods face. Without some sort of collective-action mechanism, they risk being under-provided. Conversely, without collective action, public bads - such as pollution, noise, street
The New Age After the 1500s.
The New Age After the 1500s After 1500 there were many signs that a new age of world history was beginning, for example the discovery of America and the first European enterprises in Asia. This "new age" was dominated by the astonishing success of one civilization among many, that of Europe. There was more and more continuous interconnection between events in all countries, but it is to be explained by European efforts. Europeans eventually became "masters of the globe" and they used their mastery to make the world one. That resulted in a unity of world history that can be detected until today. Politics, empire-building, and military expansion were only a tiny part of what was going on. Besides the economic integration of the globe there was a much more important process going on: The spreading of assumptions and ideas. The result was to be "One World." The age of independent civilizations has come to a close. The history of the centuries since 1500 can be described as a series of wars and violent struggles. Obviously men in different countries did not like another much more than their predecessors did. However, they were much more alike than their ancestors were, which was an outcome of what we now call modernization. One could also say that the world was Europeanized, for modernization was a matter of ideas and techniques which have an
Inflation vs. Unemployment - In what way might there be a trade off between inflation and unemployment? Is it possible for a country to have high levels of inflation and unemployment at the same time?"
Inflation vs. Unemployment "In what way might there be a trade off between inflation and unemployment? Is it possible for a country to have high levels of inflation and unemployment at the same time?" November 1996 exam. As an extension to what we are doing in class, this essay question was assigned to us. In this essay I will define some terms first so that it will help clarify the essay question and also help my respond to the question. The first technical word I can find in the question is a trade off. What is a trade off? A trade off is when one thing plays against each other in a sacrifice manner. The question enquires if there is a trade off between inflation and unemployment, here there are tow different opinions. The Keynesians believe that there is a trade-off between the two, and Monetarists believe that inflation causes unemployment. In this essay I will look at the Keynesians theory. Unemployment is the number of people without a job. Unemployment can be measured in a number of different ways. The main official measure in the UK is the claimant count. This is the registered number of people between the ages of 18 and 60 receiving an unemployment-related benefits such as welfare. The unemployment rate is the number of people on the claimant count expressed as a percentage of the labour force. The labour force includes all those who are economically active.
"To what extent is a globalized world of economic benefit?"
Globalization "To what extent is a globalized world of economic benefit?" The countries of the world are rapidly becoming more interdependent in a process known as Globalization. This process means that much economic growth comes because of trade between nations; with each specializing in the products they are best at producing. Recent advances in the world of information and communication technology has meant that globalization is truly upon us - more than ever before. Globalization has many advantages and disadvantages. One of the major advantages of globalization is the promotion of economic efficiency in the production of goods and services. For example, it makes economic sense for countries that have a comparative advantage of ease of accessibility to raw materials, to manufacture goods requiring these raw materials and to export the final product. It would be inefficient for another country to import all the raw materials and then manufacture the final product to use. This quest for economic efficiency had led to the rise of huge multinational corporations like Niké. It has based its production of sportswear in the developing countries such as Sri Lanka and Bangladesh to benefit from cheap labour. This means that the production of sportswear is productively efficient and it also guarantees the workers in the developing economies an income, which is generally higher
What Are The Causes Of Inflation? Can Government Control It? Discuss Which Economic Policies Are Appropriate For The Control Of Inflation.
What Are The Causes Of Inflation? Can Government Control It? Discuss Which Economic Policies Are Appropriate For The Control Of Inflation. Inflation is a sustained rise in the average prices of goods within an economy, it can also be seen as a change in the purchasing power of money. Inflation can normally be divided into two types cost-push and demand-pull. Cost-push happens when prices are pulled up by rising costs, demand-pull happens when demand outstrips supply and prices will therefore have to rise to accommodate this. Monetarists argue that inflation is caused increases in the money supply, the total amount of money circulating in the economy at one time. This is as the believe that any increase in the money supply which is not in line with the growth in output of the economy will lead to inflation. If the money supply was increased in the short-run then consumer spending would increase but the output of the producers would not be able to expand, as quickly, so there would be an increase in price to curb this demand. They believe that the money supply should be kept in line with the rate of growth of the output. Another theory for the cause of inflation is the demand-pull theory, this is a theory, which attributes inflation to high levels of demand in the economy. It will come about when there is excessive spending, this will then lead to a increase in the
Analyse the prospects and the problems for a Multi National Enterprise who proposes to make a Foreign Direct Investment
AC308 International/Multinational Management and Accounting Part A Briefing This report will analyse the prospects and the problems for a Multi National Enterprise who proposes to make a Foreign Direct Investment, therefore many factors will need to be considered by the MNE, as this is arguably one of the most important decisions that faces a multinational company (Demirag and Goddard 1994). This is namely because of the large capital outlay over a duration of time, a decision once made that cannot be easily reversed. Company Background British American Tobacco is a large Multi National Enterprise established in 1902 by consolidating two companies American Tobacco co. and the Imperial Tobacco of the UK this was hoped to end an intense trade war, 'Under the agreement, the two companies will not trade in each other's domestic markets and acquire the right to use each other's brands and trade marks in their own territory. Imperial Tobacco's and American Tobacco's businesses outside the 'home' markets of the UK and US are transferred to British American Tobacco'. Then in 1911 the American tobacco Co divest its shares and the company becomes listed on the London Stock Exchange. Country Background Country of choice is the northern African country of Libya which for some time has been sanctioned by both the US and the UN, its tobacco industry is state owned, however articles
Why are less economically developed countries and more economically developed countries affected differently by flooding, and why are there responses different?
Why are less economically developed countries and more economically developed countries affected differently by flooding, and why are there responses different? Flooding has been a worldwide problem for centuries but in recent years, primarily due to global warming, the effects are becoming more and more hazardous. As a result it becomes important to recognize the significance of flooding and the varied impact it has on people around the world. Flooding affects numerous groups of people every year regardless of their country's economic status. However the intensity of the effects of flooding and what is and can be done to prevent them in the short term as well as for the future (long term) is where the difference between less economically developed countries and more economically developed countries becomes evident. For example the Mississippi river is one of the largest in the world; it travels through nine states and collects a large amount of surface run off from a large portion of the North American continent. When the river flooded in 1993 after two weeks of steady, heavy precipitation there was considerable damage to homes; many people were injured with approximately 50 deaths. However, the damage could have been much worse had the country not responded quickly with evacuation programmes, and the rapid co-ordination of agencies that informed those at risk of the
Using appropriate examples, describe what is meant by institutional factors and explain how social cost can be included in the least-cost equation to determine the optimal location for a new factory.
"Traditionally, geographers have considered factors such as proximity to raw materials, labor, energy supply, and the markets to determine the least-cost location for a factory. Now, the emphasis is changing towards institutional factors, and the social costs of industrial location." Using appropriate examples, describe what is meant by institutional factors and explain how social cost can be included in the least-cost equation to determine the optimal location for a new factory. Industrial location is product of a complex and dynamic combination of many factors. An entrepreneur has to consider a number of variables before making his final decision-making processes. Generally speaking, the ultimate aim of the entrepreneur is to maximize their profits or minimize their costs, though behavioral factors are sometimes taken into account. In recent years, institutional factors and social cost of industrial location become more and more important. Institutional factors also known as government policies or "Carrot and Stick" policy. Government many encourage or discourage the industrial growth in various areas for different purposes, in order to reduce regional disparities in economic growth, levels of employment and income, and so on. Government can achieve such purposes by introducing zoning laws or policy such as setting up Enterprise Zone. Besides, she can set up
What Has Been The Impact Of Globalisation, Industrialisation and 'Development' On The World (its Peoples, And The Environment)?
What Has Been The Impact Of Globalisation, Industrialisation and 'Development' On The World (its Peoples, And The Environment)? The powers that be in the Western World we inhabit today are constantly churning out through the media and other mediums, ideologies to promote their agendas on Globalisation. Through the use of buzzwords like 'progress', 'freedom', 'democracy' and 'free trade', we are fed a very biased (and often propaganda based) version of events. In this essay I intend to define and analyse the concept of Globalisation and focus on its effect on the world and it's inhabitants. Using both pro and anti -globalisation sources I aim to explore how globalisation developed from past millennia, who really are the beneficiaries of this global system, the consequences of a globalisation culture, and if there are any alternatives to the present state of affairs. Globalisation is the term used to describe the increased pace of interconnectedness that has taken place over recent years. People around the globe are more connected to each other than ever before. Information and money flow more quickly than previous years. Also Goods and services produced in one part of the world are increasingly available in the next. International travel is more frequent, and international communication is commonplace. This phenomenon (along with others) can be classified as globalisation.
