Tuesday, May 19, 2020

Essay on Economics - 730 Words

Ep = - 0.36, P = 4 -0.36 = 4/(4-a) -0.36 (4-a) = 4 0.36a = 5.4 a = 5.4/0.36 = 15 Consider the following production functions: ? Y = 10K1/2L1/2 ? Y = 2K + 3L a. Fixing labor employment (L) at 16 units, what is the marginal product of capital when capital employment is 25, 35, and 45 for each production function? Do these production functions exhibit diminishing returns to capital employment? Explain. b. Are labor and capital complements under these production functions? Explain. c. Do these production functions have the property of constant returns to scale? Explain. d. Is either production function a â€Å"Cobb-Douglas† function? Explain. ï‚ · n economics, the Cobb–Douglas functional form of production functions is widely used to represent†¦show more content†¦There is now doubt over whether constancy over time exists. History Paul Douglas explained that his first formulation of the Cobb–Douglas production function was developed in 1927; when seeking a functional form to relate estimates he had calculated for workers and capital, he spoke with mathematician and colleague Charles Cobb, who suggested a function of the form Y = bL^kC^{1-k}, previously used by Knut Wicksell. Estimating this using least squares, he obtained a result for the marginal productivity of capital k to 0.75—which was subsequently confirmed by the National Bureau of Economic Research to be 0.741. Later work in the 1940s prompted them to allow for the exponents on C and L to vary, resulting in estimates that subsequently proved to be very close to improved measure of productivity developed at that time.[1] A major criticism at the time was that estimates of the production function, although seemingly accurate, were based on such sparse data that it was hard to give them much credibility. Douglas remarked I must admit I was discouraged by this criticism and thought of giving up the effort, but there was something which told me I should hold on.[1] The breakthrough came in using US census data, which was cross-sectional andShow MoreRelatedEconomics And Economics On Economics Essay1142 Words   |  5 PagesWhen we talk about economics we must first defined the word. Economics is a social science that studies human behavior and how to allocate our limited (scares) resources, efficiently and effectively to meet our unlimited human wants. Now as we dive deeper in to the field of economics we realized that there are two separate categories that the study of economics breaks off into. The first is macroeconomics, macroeconomics is the study of the whole picture when it comes to economics. Mac roeconomics willRead MoreEconomics : Economics And Micro Economics1238 Words   |  5 Pages Economics is the study of how our unlimited demand of certain things can be met by our limited amount of supply. For instance, if there was an unlimited amount of money for everyone, then everyone would have everything they had always wanted and would not have to work to get the money. Everyone would have billion dollar homes and the nicest cars in the world. Unfortunately, we do have a limited amount of money, so the economists find ways to get around that. There are two types of economicsRead MoreEconomics : Economics Of Business1361 Words   |  6 PagesHND Accounting Economics FINAL REPORT: The Economics of Business DUE DATE: 20 May 2015 Catherine Macintosh 11006620 For the attention of Sarah Sutherland Word count: 1,243 (Excluding Acknowledgements, Abstract/Executive Summary, Terms of Reference, References Appendices TABLE OF CONTENTS Page 1.0 Costs 3 1.1 Total costs 3 1.2 Average costs Read MoreEconomics1291 Words   |  6 Pageshis profit. Do you agree? Use a graph to illustrate your answer. The argument is incorrect. As the graph shows, a reduction in marginal cost will cause a monopolist to reduce his price. 2. Economist Harvey Leibenstein argued that the loss of economic efficiency in industries that are not perfectly competitive has been understated. He argued that when competition is weak, firms are under less pressure to adopt the best techniques or to hold down their costs. 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The basic economic problem can be define as what to produce, how much to produce and for whom to produce. Some countries are lucky to have great naturalRead MoreEconomics999 Words   |  4 PagesManagerial Economics MIDTERM Exam What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality? For me, Jeremy Rifkin is a great social theorist. I’m mostly agreeing with him, with his conclusions and visions of the future economy. They looks like perfect and definitely it’s a â€Å"think big† way of delivering the information. His book â€Å"The Zero Marginal Cost Society† is must read, of course. Trigger is a zero marginal cost. I’m completelyRead MoreEconomics1000 Words   |  4 Pagesconsumer change, there will be a much greater change in the production output in the capital equipment required to make those consumer goods. This change in the production of capital equipment, that is , investment spending speeds up the rate of economic growth or slump Since we are focused on short-run business-cycle fluctuations here, it is reasonable to ignore changes in K/Y that may be associated with long-run advances in technology. 15 – 10 proportional to the level of output in t, Kt Read MoreEconomics1134 Words   |  5 PagesMF 7701 Managerial Economics Quiz #1 Fall 2014 Instructions: 1. You may work on this quiz alone or with as many other students as you wish. If you work with other students, please submit only one (common) answer. 2. You may not talk about this exam with anyone outside of the two managerial economics sections. 3. You may work with people from the other section if they are taking this course. In all cases, please submit only one, common answer. 4. 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Wednesday, May 6, 2020

A Note On Sound Money Amendment - 993 Words

Name: Speikes, Foster D. Date: 2/10/2016 Class: Robert Yowell Sound Money Amendment For as long as money has existed, governments have sought to control its supply for their own benefit. The ancient Romans, for instance, regularly debased their coins so that, by the end of the 3rd century AD, the actual content of silver had declined to less than 5% purity. The debasement of and inflation of the money supply has historically been a tool of governments to expand their power. In conventional economics, which this paper will assume as a positive background in defending the feasibility of a sound money amendment, the result is a redistribution of real wealth from savers to the government, the banking and finance system, and other†¦show more content†¦In other words, schemes of redistribution which are organized to counter the symptoms of government interference in sound money misdirect our focus from a cause (debasement of the currency for government and friend’s benefit at the expense of everyone else) to a â€Å"solution† proposed by the sam e organization which caused the problem! It would be like proposing to solve mob violence by making the Capo di tutti capi police chief. The amendment would therefore be formulated to prohibit government interference in the production of any money supply. All money would be private, with contracts between individual depositors, lenders, banks, and other financial parties being enforced like any other privately agreed contract. This is obviously a political impossibility at the moment, but the contemporary global socioeconomic order is poised for massive reforms in the wake of a collapse of the financial system and/or political revolutions. The regular operation of the global financial order is so thoroughly corrupted by government interference that all three political cultures would be able to agree that a sound money amendment would be an improvement. Individualists would be pleased that restrictions on the financial autonomy of individuals, communities, and other organizations wou ld be removed. At present, financial options for individuals and organizations are substantially restricted due to an

Stakeholder Involvement Management Theory †Myassignmenthelp.Com

Question: Discuss About The Stakeholder Involvement Management Theory? Answer: Intrpoducation Tourism is a significant part of urban planning. In order to blend the modern and cultural perspectives in the development the participation of numerous stakeholders is necessary(Harrison Wicks, 2013). The community, travelers, employees, business owners, public and private developers are some of the crucial stakeholders. These are important because of they are the beneficiaries and they facilitate the successful completion of the project. However, the multilevel number of stakeholders tends to give rise to conflict of interests(Giezen, 2012). The stakeholder theory points out the importance of creating value across all parties involved including competitors and suppliers. The development of new streets cannot happen successfully without putting into consideration the peoples lifestyle, community needs and the local council plans. Available resources determine the extent to which the upgrade takes place. In the Brisbane plan, there is the priority and main plan. This is important be cause it prevents a conflict of interest. For example, the transformation of the riverfront considers Howard Smith Wharves, Queens Wharf and William Street precinct and City Reach as co-projects. Contemporary urban tourism influences change in location(Ashworth Page, 2011). Important factors influencing this change revolves around the Place and People elements. These shape the development of urban centers. The service industries in the project includes hotels, restaurants, shopping malls and recreation parks. Business travelers search for locations with amenities and quality services. Clean and green cities are a major attraction today. Internal and external stakeholders are important in complex multiple stakeholder projects(Waligo, Clarke, Hawkins, 2013) The City Bridges have a design that considers ways of crossing and connecting the city with its neighborhoods. The development of the Kangaroo point bridge and Victoria Bridge must have an insight of the best way to link with its neighbors. City Boulevards streets have a dynamic platforms that befits its users lifestyle of urban life. It improves culture, economy and city movements. As development planners consider giving city dwellers better roads, they also have to ensure the satisfaction and security of business owners. Focusing on Queen Street affects street users in Edward Street, Adelaide Street and Elizabeth Streets. In the same way, the development of a Green Spine with a subtropics corridor connecting Wickham and Roma Street Parkland comes as a boost to the City Botanic Gardens, Wickham and Roma Street beneficiaries. Grand projects require a multidisciplinary approach(Rydin, et al., 2012). The grand arrivals transit stations redeveloped to facilitate the transportation also shows a unique architecture and public space. This means it has intertwined projects like the central station and Roma Street station. Stakeholders profiling helps to clarify the extent of their involvement. For example the Transit city, provides convenient and comfortable travel within the high capacity transit system and it includes the revitalization of the underground system needs to match new development and city interconnections. This is visible in its distinctive architecture, which is a blend of the modern subtropical design and is natural beauty. Strategic development compliments the neighborhood plan and design with a subtropical heritage loop and its 24/7 event city which improves trading hours, considers the stakeholder value(Morrison, 2013). Therefore, the 2014 Brisbane plan ensures that the creative economic center provides a meeting place and creative industry to meet all kinds of nee ds. Brisbane is a haven for business and cultural tourists. Developing a successful business center needs consultations from all parties involved or affected. Street lighting benefits the businesses and assures visitors of security. Professionals in engineering, construction and project development come into play for a successful project. Culture as an important people element features greatly in this urban plan. The Howard Smith Wharves shows an exclusive destination with a landmark site filled with heritage details. Within the plan is the development of an environment that considers the peoples outdoor lifestyle. The location is a revitalized natural asset whose reflection resembles its geographical natural beauty and the dwellers heritage. It is also a tourist attraction center with events. The crucial economic factor is the people and places(Vanhove, 2011). The project has a framework and river walk link with refurbished building and it shows the redevelopment of a commercial location. Conflict of interest could arise between the Queens Wharf and William Street precinct because of the refurbished city buildings, venues of entertainment and waterfront city. Stakeholders here include the Ministry of local government, business owners, the Museum management and the Brisbane City Council. Employees working on the creat ion of beautiful sceneries like the Spring Hill to Kangaroo Point may detest poor salaries and unsafe working conditions. This stakeholder partnership agenda seeks to create a breathtaking retail environment with benefits such as an ample footpath, spacious green environment and improved buildings. It provides a beautiful public space with lighting and functional streets. In conclusion, the success of a city refurbishment plan involves the project workers, project managers, city dwellers, the business community and its ministries. The involvement of professionals in the project calls for consultations from all sectors. The technical and advisory teams work together to deliver a satisfactory location. People and place is an important factor in an urban development project because the location targets and involves people. The Brisbane plan is an example of a city development with a myriad of stakeholders. It includes development partners, beneficiaries and interested parties. Those affected in the project are the host community members, professional project developers, city visitors or travelers, the business community, the national government, local government and competitors. The people and place shapes the success of the service sector to determine the successful completion of the successful completion of the project. The development of Brisbane as a tourist and business location inputs attributes that attracts people to its places. Nature, landmark sites and heritage attractions are some of these attractions. Therefore, the refurbishment of a city must incorporate stakeholder interests. In order to avoid a conflict of interest, it is necessary to prioritize and to engage the stakeholders in the process. References Ashworth, G., Page, S. J. (2011). Urban tourism research: Recent progress and current paradoxes. Tourism Management, 32(1), 1-15. Giezen, M. (2012). Keeping it simple? A case study into the advantages and disadvantages of reducing compelxity in mega project planning. International Journal of Proect Management, 30(7), 781-790. Harrison, J. s., Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly , 97-124. Morrison, A. M. (2013). Market. Routledge. Rydin, Y., Bleahu, A., Davies, M., Davila, J. D., Friel, S., De Grandis, G., Lai, K. M. (2012). Shaping cities for health: complexity and the planning of urban environments in the 21st Century. Lancet, 2079. Vanhove, N. (2011). The economics of tourism destinations. Routledge. Waligo, V. M., Clarke, J., Hawkins, R. (2013). Implementing sustainainable tourism: A multi-stakeholder involvement management framework. Tourism management, 36, 342-353.

Wednesday, April 22, 2020

Mattel Case free essay sample

By July 1997, the company had decided to build a wholly owned manufacturing facility in the Guangzhou region of southern China, starting production in 1999. The Asian currency crisis that ensued later that fall had reopened the build decision. It was now the beginning of March 1998 and all of the original options were once again under debate. While in the US, Ron had met with his boss Joe Gandolfo, President of Worldwide Manufacturing Operations and learned that he would be reassigned within the next month to oversee die-cast car operations. An ex-lawyer who had lived and worked in Hong Kong for nearly fifteen years, Montalto was a Senior Vice President and had been responsible for companys Vendor Operations Asia division (VOA) which managed Mattels outsourced production. Mattel began the vendor operation program in 1988 hoping to add flexibility to the companys traditional in-house manufacturing. Montalto had spent the last ten years developing VOA into one of Mattels most valuable strategic assets. We will write a custom essay sample on Mattel Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In 1997 it was responsible for manufacturing products that generated nearly 25% of the toy companys total revenue. The Tyco merger resulted in VOA manufacturing products that generated an additional $350 million in revenues for the Mattel organization. The majority of those revenues came from a combination of Tyccfs Matchbox die-cast cars, its line of radio-controlled (RC) cars, its View [emailprotected] series nd products from its Sesame Street license. With demand for This case was written by M. Eric Johnson and Tom Clock. It is written for class discussion and not to illustrate effective or ineffective management practices. Some names and facts have been changed. 0 2002 Trustees of Dartmouth College. All rights reserved. For permission to reprint, contact the Tuck School of Business at 603-646-3176. 2. Mattel, Inc. no. 1-0013 Matchbox cars at 64 million units in 1997 and growing, die-cast capacity concerned Montalto the most. Tyco manufactured the cars through Joint- venture arrangements in Shanghai and Bangkok. Both of the Joint ventures were minority share partnerships which raised questions for Mattel in the future. Whats more, the quality of Matchbox products had been eroding for years and was manufacturing plants were becoming obsolete. Though it might be possible to upgrade the existing Tyco operation in Bangkok, Mattel saw little hope of expanding the Shanghai operation. Mattel owned a state-of-the-art die-cast facility that was operating at full capacity in Penang Malaysia (see Exhibit 1). Expanding that facility significantly beyond its 1997 volume of 120M cars would be expensive and omplicated. There was no room for further building on the site and no available land adjacent to the plant. The proposed China facility would solve the capacity problems. However with the financial storm sweeping through Asia, some executives inside Mattel argued that they should reconsider building a new plant in Malaysia to concentrate die-cast production in a single country. Others felt that they should consider Indonesia as a way to take advantage of low labor costs and very attractive exchange rates. Mattel currently operated a plant in Indonesia that produced [emailprotected] dolls. Montalto had to decide whether Mattel should go forward with the new China plant, build a plant in Malaysia or Indonesia, expand one of the existing facilities, or outsource the surplus die-cast volume through VOA. Company Background Based in California, Mattel, Inc designed, manufactured, and marketed a broad variety of toy products. The companys core product lines included Barbie fashion dolls, Hot Wheels die- cast toy vehicles, Cabbage Patch Kids, Fisher-Price preschool toys, and Disney toys. Most of these toys were made overseas, primarily in southeast Asia. Mattel had wholly owned manufacturing facilities in China, Malaysia, Indonesia, Mexico, and Italy. Mattel was founded in 1944 by Elliot and Ruth Handler. Neither Elliot nor Ruth had much business experience or capital, but they both had dreams. The post World War II demographics of a huge baby boom plus a virtually toyless marketplace provided a unique opportunity to gain a place in a growing toy market. Mattels first products, simple picture frames and doll house furniture, met with mixed success. The first really big hit was a music box. By partnering with another toy inventor, they developed a music box that could be mass-produced, dramatically reducing its cost. The product went on to sell more than 50 million units over the next 20 years. By 1955, annual sales reached $5 million and the Handlers decided to take a gamble that would forever change the toy business. In what seemed at the time a risky investment, the Handlers signed a 52 week contract with ABC Television to sponsor a 15-minute segment of Walt Disneys Mickey Mouse Club at a cost of $500,000 a sum equal to Mattels net worth at the time. Up until this move, most toy manufacturers relied on retailers to promote their products. Prior advertising occurred only around the holiday season. The popular daily kids show made the Mattel brand well known Tuck School of Business at Dartmouth 2 3. Mattel, Inc. no. 1-0013 among the viewing audience, translating quickly into sales. The success of the Handlers pact with kids TV started a marketing revolution in the toy industry. Mattel made toy industry history again in 1959 with the introduction of Barbie. Ruth Handler got the idea for the toy after watching her daughter play with adult looking paper dolls. In spite of the cool reception to the Handlers teenage fashion doll at the 1959 New York Toy Fair, the early sales quickly signaled a winning roduct. With the success of Barbie, Mattel made its first public stock offering and by 1963 was listed on the New York Stock Exchange. In the next two years Mattels sales model cars in 1968 was another spectacular success making Mattel the worlds largest toy company by the end of the decade. Unfortunately, the Handlers good fortune in the toy industry was quickly tarnished. Plagued by operational problems including a fire in their Mexican plant and shipping strikes that interrupted the flow of goods from Asia, Mattels growth stumbled. In 1973, Mattel was caught issuing misleading financial reports. The SEC filed charges against the Handlers and a federal Judge ordered Mattel to restructure the board, forcing the Handlers out. Under a new management team, Mattel regained profitability and started diversifying into other childrens products including publishing and entertainment. At first the acquisitions looked promising, but poor performance during the 1980s forced Mattel to divest of many at steep losses. By 1987, Mattel had fallen into even deeper trouble with heavy losses in video games. The stock had lost two-thirds of its value since 1982, forcing the board to appoint a new chairman John Amerman, who had Joined he company in 1980 as head of Mattels international division. Amerman charted a new strategy for Mattel, closing 40% of the companys manufacturing capacity, including plants in California, Taiwan, and the Philippines. Most important, Amerman focused the company on its core brands such as Barbie and Hot Wheels, and by making selective investments in the development of new toys. The Barbie line was expanded to include approximately 50 different dolls per year with many new accessory items. A promotional campaign built around Barbies 30th birthday in 1989 propelled her onto the cover of Smithsonian Magazine, confirming her status as a rue American icon. The Barbie make-over was so effective that from 1987 to 1992 sales shot up from $430 million to nearly $1 billion, accounting for more than half of the companys $1. 85 billion in sales. At that time, Mattel estimated that 95% of all girls in the United States aged 3 to 11 owned Barbie dolls. In 1991, a strengthened strategic alliance with The Walt Disney Company allowed Mattel to expand its development of Disney toys. Mattel negotiated the exclusive rights to sell dolls, stuffed characters, and preschool toys based upon such movie classics as the Lion King, The Hunch Back of Notre Dame, and Hercules.

Tuesday, March 17, 2020

ABORTION misc00 essays

ABORTION misc00 essays During the past century, abortion has joined race and war as one of the most debatable subjects of controversy in the United States. The issue of abortion causes discussions about human interactions where ethics, emotions and law come together. There are many reasons why women decide to have abortions. Some women have abortions because of health complications, some have marital problems, and some lack responsibility. Whatever the reasons a woman decides to have an abortion, it seems only justified that she should be able to make decisions in regards to her life and body. The decisions that she makes in regards to what she does with her body and the fetus will be beneficial to both the woman and the fetus because it will prevent many problems from occurring in the future. If a woman were to have an unwanted baby, she may neglect or even abuse the child causing the child to go into the care of the government. Bringing an unwanted child into the world is unfair to the innocent child and the woman. The government has no valid reason in bringing an unwanted life into the world. Bringing an unwanted child into the world is not helpful to the parents, the child and the government, because if the parents cannot take care of the child, eventually, the government will be responsible for the child. The right to have an abortion is personal and essential to a womans life, because having a baby in ones life causes dramatic changes. Pregnancy and childbirth can prevent women from keeping and getting jobs. When women are pregnant many employers do not want to hire them because when the woman has a baby, the company or employer must still pay her for the time that she is out of work by law. Also, raising a baby and providing for all the needs that a child has is a lot of money, which can create an insufficient income for many women. Another factor that imposes on women when they have children is the amount of time they have for themsel...

Saturday, February 29, 2020

Aldi Inc Strategic Swot Analysis Review Essay Example for Free

Aldi Inc Strategic Swot Analysis Review Essay Summary Aldi, Inc. (Aldi) is a grocery retailing company. The company’s stores supply various food and general merchandise such as fresh meat and produce; refrigerated and frozen foods; snacks and sweets; bakery, dairy, pantry items and beverages. In addition, it also offers skincare and beauty products, house hold must have products, and beer and wines. Aldi operates over 1,200 stores in the US and sells over 1,400 of the most frequently purchased grocery and household items in manageable, non-bulk packaging. It operates as a subsidiary of ALDI Einkauf GmbH & Co. oHG. The company is headquartered in Batavia, Illinois, the US Our Aldi, Inc. provides a comprehensive insight into the company’s history, corporate strategy, business structure and operations. The report contains a detailed SWOT analysis, information on the company’s key employees, key competitors and major products and services. This up-to-the-minute company report will help you to formulate strategies to drive your business by enabling you to understand your partners, customers and competitors better. Scope – Business description – A detailed description of the company’s operations and business divisions. – Corporate strategy – Our summarization of the company’s business strategy. – SWOT analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats. – Company history – Progression of key events associated with the company. – Major products and services – A list of major products, services and brands of the company. – Key competitors – A list of key competitors to the company. – Key employees – A list of the key executives of the company. – Executive biographies – A brief summary of the executives’ employment history. – Key operational heads – A list of personnel heading key departments/functions. – Important locations and subsidiaries – A list of key locations and subsidiaries of the company, including contact details. Note: Some sections may be missing if data is unavailable for the company. – Gain key insights into the company for academic or business research purposes. Key elements such as SWOT analysis and corporate strategy are incorporated in the profile to assist your academic or business research needs. – Identify potential customers and suppliers with this report’s analysis of the company’s business structure, operations, major products and services and business strategy. – Understand and respond to your competitors’ business structure and strategies with Our detailed SWOT analysis. In this, the company’s core strengths, weaknesses, opportunities and threats are analyzed, providing you with an up to date objective view of the company. – Examine potential investment and acquisition targets with this report’s detailed insight into the company’s strategic, business and operational performance. Aldi Inc Strategic Swot Analysis Review. (2016, Sep 18).

Thursday, February 13, 2020

Managing Organisations Essay Example | Topics and Well Written Essays - 1500 words - 1

Managing Organisations - Essay Example Human capital requires motivation in order to produce the best. Happiness and employee satisfaction promotes high productivity in any organization. Additionally, psychology theories offer alternative management ways that are relevant in the organizational strategy of any institution. This article will analyse the significance of psychology knowledge to the managers as well as the challenges faced by the managers in their efforts to apply psychology knowledge in their management roles. Understanding the importance of the knowledge of psychology to the manager’s demands that we analyse the various psychology theories put forward by prominent psychology writers. The significance of these theories offers insight on the need to study them as a manager. These theories include: This theory was developed by Maslow and is commonly known as Maslow’s theory of needs. It is founded on the idea that individuals possess powerful cognitive reasons that influence them into working towards particular goals. Sources of motivations among individuals change as they proceed from basic needs to self-actualisation in Maslow’s hierarchy of needs. A well-paying job can be a great source of motivation for individuals at the initial stage of the hierarchy of needs. As the individual progresses the motivators change and finding meaning in the work, creativity and independence can be the new powerful motivators. Maslow called this compensation when a person is motivated and gives more importance to competencies rather than meta-pay. Organisation of the work environment is very crucial given the changing needs of workers. The managers need to understand this aspect and utilise psychology to implement the necessary strategies to address this issue (Cherry, 2013). Psychology is important as it helps create self-awareness in the managers. They learn about their strengths and weaknesses, therefore, having total control of all