Please read the article below by ABC journalist Ashley Hall dated 29 th April 2010 Cigarette tax hike sparks panic buying and identify TWO (2) economic issues you found interesting.
Discussions 1: The following guidelines will underpin your contributions:- • demonstrate your knowledge of the topic in relation to relevant economic theories/concepts • Effectively convey your thoughts, opinions and ideas • provide evidence of relevant further readings, especially from academic journals -Economists magazine • incorporate your own work and personal experience, and • adhere to the minimum contribution guidelines presented below Minimum/Maximum Contribution Guidelines Prior to the discussion opening, • read the relevant chapters in your text book • Research the topic through further reading of relevant academic journal articles • look for examples of its practical application. Look at the questions that are being asked, make an informed judgment about what would constitute a reasonable answer, and then make your entry. Quality is important and is one of the criteria that is being used to assess your contribution. Long rambling entries are discouraged. BE SUCCINCT. Your initial comments are a short, sharp synopsis (aim for about 400 words) of your research and your views/thoughts on that research as they relate to the topic. Please read the article below by ABC journalist Ashley Hall dated 29 th April 2010 Cigarette tax hike sparks panic buying and identify TWO (2) economic issues you found interesting. Through the
Studio Based non-Fiction Television Production - The Role of the PA
Studio Based non-Fiction Television Production The Role of the PA Although the production could not happen if one member of the crew were missing, the role of the PA is pivotal. The PA's job is to ensure that the programme runs to the correct time and therefore has to be aware of the exact timing of every piece within that broadcast. The PA must know the exact time of every video feed and the point at which it has to start. This enables a ten second count to be given for the video to have enough time to get up to speed and start at the correct time. The second important aspect concerning the PA and the video feeds is to know the count to the end of the piece. This is essential information for the floor manager to pass onto the presenters and auto-cue operator, this enables the next piece to start as soon as the video feed has finished because all relevant parties know in advance exactly when that point will be. Another task of the PA is to keep track of the times of any live events such as interviews and to make sure that they fill the required time without over-running. Again this information is fed to the floor manager (or directly to the presenters if they have ear pieces.) The outcome of all this meticulous time keeping is that the PA should know exactly how much time the remaining pieces have to fill. This way the PA will know if there is going to be any 'dead'
The organisational change and development of Suffolk confectionary Ltd.
ORGANISATIONAL CHANGE AND DEVELOPMENT SUFFOLK CONFECTIONERY LTD THE ANALYSIS OF THE SYMPTOMS There appears to be a multitude of underlying problems that are consuming the HBS department The department is understood to be the worst in the factory with claims and evidence of bad attitude, poor atmosphere, low motivation and low job satisfaction. Over the past eight years a high turnover of six managers has occurred. This was accompanied with managers not meeting or being told of production targets and usually with high level of wastage. HBS have many interpersonal/intergroup problems within the department. This is not only confined to within inter and intra parts of the packing and production staff but also between the supervisors of both the teams. This is confirmed with the large amount of time consumed by the department manager resolving conflict between both the supervisors in the packing and manufacturing department. The average amount of time consumed by conflict being 25% in private sector and 50% in public (Harvey and Brown, 2001) Although in this case it looks like more than 25% of the managers time is being spent on conflict. Although as we will discuss shortly some conflict may actually be healthy as in the interactionist approach it is apparent that too much may actually provide what G.Morgan terms as "dysfunctional energy". Badly handled competition between
Competitive markets, free from government intervention are the best means of allocating society(TM)s scarce resources amongst its members.
Competitive markets, free from government intervention are the best means of allocating society's scarce resources amongst its members. While economists theorise about markets free from government intervention, regulated markets, though generally less efficient, are also functionally viable. It is through the analysis of both types of markets, and their relative applications within society, that economists can critically evaluate their effect upon the allocation of society's resources amongst its members. A competitive market is an economic forum run by supply and demand, where "price is a result of voluntary transactions1". A market free from government intervention is known as a free market, and under 'perfect conditions' is theorised to be the most efficient. However, it is only through the introduction of regulation, that these markets can be seen as more equitable to members of society. While perfectly competitive markets, in the long run, achieve economic efficiency, in reality, government intervention provides a legal framework to enforce contracts, monopolies, and political, economic, and environmental conflicts. Perfect competition provides a framework to achieve the desired outcome of workable competition, through effective regulation. A market economy free from government intervention is theoretically preferred in many ways, however there are some aspects of its
"Utility is a theoretical concept that cannot be observed or measured in the real world. Hence, it has no practical value in decision analysis."
Assignment "Utility is a theoretical concept that cannot be observed or measured in the real world. Hence, it has no practical value in decision analysis." Module: Managerial Economics Instructor: Student's name Contents Definition of utility.............................................................3 Total and marginal utility...................................................4 Graphic description of total and marginal utility....................6 The utility of different goods and services, and the balance of the consumer...................................................................8 Application of the theory of utility.........................................9 Indifference curves..........................................................14 Uncertainty and the consumer..........................................17 Definition of utility "The assumption of rational economic behavior leads logically to a further assumption fundamental to economic theory, that economic agents decide their market plans so as to maximize some target, objective or goal believed consistent with self interest. In demand theory, the objective function which households are assumed to wish to maximize is the utility obtain from the set of goals and services consumed. Utility means the usefulness or fulfillment of need which a consumer gains from consuming a good, though for many goods
Production processes
Production processes I shall be examining the different methods of production and manufacturing. This essay will show in a certain degree of depth, how the types of production are used and which are more efficient for a business organisation. I must produce clear evidence that the choice of manufacturing methods depends on the product being made and I must show the various factors that affects the choice manufacturing methods. Production is the total output made by as business. For production to occur, it is vital acquire certain inputs. Inputs are resources or raw materials, which are processed in order to create input. These take the form of capital equipment, materials and human resources. These inputs are transformed in the productive process. The process consists of four forms; * Extraction (Mining raw material e.g. coal) * Analytical techniques * Fabrication * Synthesis Below is a diagram which shows the transformation id the inputs produces an output, this will take the form of goods or services. Fig.1. People Goods Machines and Materials INPUTS- THE CONVERSION PROCESS services Information Money Examples of production in the primary industry are the use of land and tractor to grow cabbages. In the secondary sector the use of wood glue screws, labour, drilling and cutting resources to produce furniture. And in the tertiary
Warren Winter
Warren Winter 11/01/04 AP American History The Gilded Age of American industry in the late 19th century marked a period of massive change. Widespread urbanization transformed the economic and social climate of America such that it became conducive to massive industrial and agricultural production. Richard Hofstadter writes, "The industrialists of the Gilded Age were such as one might expect to arise where great waste is permitted for great accomplishment, where temptations are offered and few restraints imposed... They directed the proliferation of the country's wealth, they seized its opportunities, they managed its corruption, and from them the era took its tone and color" (213). This period of economic boom saw the emergence of American labor as an organized economic and political force. The vigorous demands presented by labor resulted in unprecedented conflict between capital and labor, with over six million workers involved in over thirty-six thousand strikes. Impotence, not efficacy, furthermore characterized the contemporaneous Presidents, who invested extensive power in the hands of the legislative branch and were disinclined to exert strong executive action against the trusts and monopolies that had begun to burgeon. By 1894 the United States had become the largest manufacturing nation in the world. In 1860 nearly one out of every four Americans
This report will demonstrate an understanding and recognition of the position and the role of management accounting for Supersnax Ltd, suppliers to the airline industry.
TITLE PAGE Content page This report will demonstrate an understanding and recognition of the position and the role of management accounting for Supersnax Ltd, suppliers to the airline industry. It will also analyse Supersnax Ltd problems by selecting and using a range of statistical and management accounting techniques. It will evaluate the relevance and significance of the results, explore assumptions, limitation and the wider implications, and make recommendations as a basic for planning, control and decision-making. The table below illustrate the Cash Budget for the first six months, showing each month separately and the six months on total. The following information has been used in order for achieving the cash budget for the first six months: a) Cash at bank on 1 January is £300,000 b) Monthly production and sales are equal throughout the year. Assume twelve months each of four weeks c) Debtors are allowed three months' credit d) Creditors for material allow two months' credit e) Creditors for expenses allow one months' credit f) One week's wages are kept in hand g) Depreciation including in production overhead is £12,000 h) Payments for fixed assets are due in February and amount to £260,000 Using the Excel Soft Ware I wrote these formulas: Debtor = £381,000 ÷ 12 = £31,750 Creditors for Material = £55,800 ÷ 12 (months) = £4,650
Lean manufacturing in the turbine engine production
University of Bradford School of Management Operations Management Assignment Lean manufacturing in the turbine engine production "I certify that the above coursework is all my own work and does not exceed the word count (3500 words)." Signature: Date: United Kingdom 2007 Table of Contents Abbreviations ) Introduction 2) What is Lean Manufacturing? * The Lean Focus: Reducing Lead Time by Eliminating Waste * Mass Production and Lean Thinking * Recognizing Waste * A Model of Lean Manufacturing in Aerospace 3) Just in Time Principle * Reengineering of manufacturing process * Reengineering of production space 4) Built In Quality 5) Lean Quality Logistics Supply Chain Conclusion References Appendixes 1-3 3 4 5 8 1 2 5 6 7 Abbreviations JIT - just in time TPS - Toyota Production System TQM - Total Quality Management MRP - Materials Requirements Planning BOM - Bill of Material SPC - Statistical Process Control DPM - Defects Per Million (Opportunities) FIFO - First In First Out RR - Rolls Royce GE - General Electrics P&W - Pratt & Whitney . Introduction Rolls-Royce (RR) aerospace division has the large complex business process, part of which concentrates on manufacturing of turbine engines, producing a range of quality world class products [1]. In response to increased orders from the market place and competition, the
How far does influence and desire affect consumption in the postmodern era?
Postmodern Consumption: How far does influence and desire affect consumption in the postmodern era? Abstract: Examines how the consumer can be affected by influence looked at by Leiss et al., Abrams, Bearden et al., Williams and what impact does desire have on consumer behaviour looked at by Elliot, Taylor and Saarinen, Kunda, Campbell. Also this review will look at the symbolic linkage to consumer behaviour the main theorist here being Russell Elliot. There is evidence suggesting that consumers are influenced by others directly and indirectly (compliance, identification, internalisation values and consumer susceptibility) these are looked in depth by Bearden et al., Kropp et al., Kellman and Kahle. This review will highlight linkages and affects of advertising, influence, symbolism, socio-culture, desires, state of consciousness, matter and meaning in relation to consumer behaviour. Rationale: The consumer is an ever-changing entity; consumer behaviour will continue to change for the foreseeable future. Consuming a product(s) is seen by many to be a straightforward process but many academics do not agree. Academics believe that consumers are influences by other human beings, advertising and that consumption is never purely an individual task that excludes all intervention by others or the media, all consumption is influenced or become susceptible in some way, shape or