The heart that bleeds Latin America Now Essay Example | Topics and Well Written Essays - 1250 words

The heart that bleeds Latin America Now - Essay Example policy like no others in the Western Hemisphere. Interspersed are profiles of the Argentineans Evita Peron and Che Guevara and Peruvian Mario Vargas Llosa. Nearly half of the book is devoted to a series of scarcely believable tales from Mexico, where Guillermoprieto was born and returned to live in the mid-1990's. All of these essays appeared in The New Yorker and in The New York Review of Books between 1994 and 2000. In this book, Guillermoprieto is at her best in her psychological portraits of Latin America's unconventional politicos. Among them are Vargas Llosa, the Peruvian writer who lost a presidential bid; Guevara, the icon by which the Latin American left defined itself, and Vicente Fox, the Mexican rancher who dethroned a corrupt political machine to take the presidency. Guillermoprieto makes it clear why Vargas Llosa, an author of inspiring prose, failed miserably in his presidential bid. Her essay about Vargas Llosa also opens up a window into a cruel theme what Guillermoprieto calls a fundamental trait of Peruvians, but is very much a continuing problem of Latin America and those in the diaspora to the United States. These nations and their peoples are constantly immersed in conflict over their mixed blood and class. It's the deep-seated explanation for the conflicts and frustrations of Peruvian life. In her artfully handled essay on Che, it's easy to understand why Guillermoprieto, with her sympathies for the poor, was drawn to Che as a subject matter. Here she dissects three weighty tomes, published in 1997, on Che. And in doing so she quickly takes the reader into her generation's own psyche. She said Guevara was born in Latin America's hour of the hero. And so many of our leaders have been so corrupt, and the range of allowed and possibly public activity has been so narrow, and injustice has cried out so piercingly to the heavens, that only a hero can answer the call, and only a heroic mode of life could seem worthy. Guevara stood out against the inflamed horizon of his time, alone and unique. She sees Che's flaws, though. With horizon inflamed, a generation of followers were "incinerated" by their Che ideology. In a very personal passage, she details how those "children of Che" armed in radical revolution would die, including a great friend of Guillermoprieto's mother, a poet and feminist editor named Alaide Foppa. And by synthesizing details from a book by Jon Anderson, she shows how Che, this man of the people, was a machista of an elitist background who would have his sexual way with the family maids. She writes that Guevara's slogans now sound foolish. And she highlights that with work from a book by Jorge Castaneda, a political scientist who is now Mexico's foreign minister. Castaneda's Che is a man who cannot bear the natural ambivalence of the world, a world of gray where people have mixed allegiances. As the eventual head of the Central Bank, for example, Che was flummoxed by day-today realities of running a government. "Why corrupt workers by offering them more money to work harder" Given the region's history of rickety economies, the reader wonders if a Latin American could be found today

M6 Assignment Example | Topics and Well Written Essays - 750 words - 1

M6 - Assignment Example idence for the application of this theory involved the study factors influencing the choice of food and the impact of induced mood on the usage of condom. The study on induced mood and the use of condoms is anchored on the theory of reasoned action in which, intention takes a center stage in determining an individual’s behavior. According to Armitage, Conner and Norman (1999), the intention to perform a certain behavior by an individual is a function of his or her attitude and the subjective norm. Specifics outcomes about a given behavior in turn influence the attitude formed by an individual towards that behavior. Perceived social pressures especially from people close to our lives have been particularly found to have significant impact on the intentions of an individual to perform a certain health behavior (Armitage, Conner & Norman, 1999). This study suggests that the influence of attitude on the intention to perform a given behavior is exasperated by the combination of either a positive mood or negative mood (Armitage, Conner & Norman, 1999). The study on the effects of induced mood on the use of condoms involved 97 undergraduate students with half of the group subjected to negative mood induction and the other half to positive mood induction (Armitage, Conner & Norman, 1999). The attitudes of the participants were also assessed concurrently as well as their intention to uses condoms. The study found that in addition to attitude and subjective norm behavioral determinants, mood further influences the cognitive capacity of an individual thereby impacting on his or her intentions or decision making capacity. The study findings imply that a person in a positive mood is likely to develop a positive attitude which consequently translates to the intention to perform a certain behavior. The study findings were indeed positive because they provide support for the theory of reasoned actions by established that the intention to use or not use condoms is not only

Power Abuse in Government

Power Abuse in Government Question: You have been introduced to several definitions of power. How do these definitions help you to understand power as you see it exercised in the world around you? Please give examples to illustrate your answer. At the creation of time, as per the book of Genesis in the Holy Bible, a command was given to Adam and Eve to not eat of the Tree of Knowledge. As they both did so, they became acutely aware of â€Å"right† and â€Å"wrong† and were subjected to the punishment of their Almighty, Powerful God; and so began the understanding of power. How power is used often reflects the values and beliefs of the user. As a noun, the word â€Å"Power† has numerous meanings. The Oxford Dictionary (2013) defines power as the capacity to direct or influence the behaviour of others or the course of events. Hobbes (in Nagel, 1998) identifies power as a person’s means to obtain some future good and Heywood (2007: 456) posits that power is â€Å"the ability to influence the behaviour of others, typically through the power to reward or punish†. This essay is an attempt to enlighten the reader of the concept of power and will explore this rationale further with specific concen tration on the teachings of Heywood and of Kenneth Boulding in conjunction with his book The Faces of Power, where he reveals his premise that there are three categories of power: threat power, economic power, and integrative power. At some point in time, every person wishes to possess power in some degree. Whether that is power over a brother or sister, the ability to influence friends or work colleagues, or, perhaps, running for political office. Because power is, at its core, the ability to obtain a described outcome, at some level the objective, according to Russell (1938), of all members of an organization is to obtain power. In his book Politics, Heywood (2007:11) comments that â€Å"Power can be said to be exercised whenever A gets B to do something that B would not otherwise have done. However, A can influence B in various ways†. It is these ways or â€Å"faces of power† that Heywood (2007) describes the first face of power as that of decision making and how actions, in some shape or form, influence decisions. Decision making is an ongoing process that occurs on a daily basis. On a small scale, a local shop owner is constantly making decisions that will have a direct impact on the success o r demise of his/her business. On a much larger scale, is the decisions making of a government. It is here that the teachings of Boulding (1989) have the most influence when he claims that power has three categories or faces. The first face is the power of threat—the stick—the power to destroy. Boulding goes on to state that the existence, and especially the possession, of the means of destruction, such as weapons, enhances the probability that they will be used and a very good example of the power of threat is to look at a situation in 2010 by Mexican drug cartel members on the families living in El Porvenir, Mexico. The cartels, according to an article written by Gibson and published on Examiner.com in 2010, threatened to kill every child in the border town unless the parents paid a fee for their protection or left the town. As a result of this threat, the families either paid the fee or, as a majority indeed did, fled for a neighbouring town. Another of Boulding’s faces of power that conforms to Heywood’s theory is Economic Power—the carrot—the power to produce and exchange. Globalisation has made trade with foreign nations a much easier opportunity compared to previous decades. However, tensions can, and do, run high in businesses and governments. An illustration of economic power could be that of China. It could be said that China has an economic power over a large portion of the World in that a majority of consumer products are produced in China. If international relations between China and the U.S.A. were to take a turn for the worse and in turn China were to place an embargo on exports to the United States, one of China’s largest importers, this could have a crippling effect on the U.S. economy. Boulding’s (1989) third face of power is that of integrative power—the hug—the power to build relationships. He explains that integrative power is when B does an act for A out of love or respect or want and not because A has the power of making B do said act. A very good case to demonstrate integrative power is that of a volunteer wishing to enlist in military service. Although there are countries where conscription is still in place, the majority of States rely on men and women volunteering to serve their country. It is improbably, but still possible, that an individual decides to dedicate X amount of years being browbeaten or vituperated to learn a trade or to achieve professional qualifications. Indeed, this could be obtained by attending university or a local trade school with much less difficulty. The individual enlists his or her service out of love or from a sense of duty to their nation. Yet another concept of power that is introduced by Heywood (2009) in his thesis is the power of agenda setting. The media seems to be one of the major players when agenda setting is the issue. Fox news in the United States is commonly referred to as a right-wing media outlet. As Ackerman (2001) explains, â€Å"When it comes to Fox News Channel, conservatives dont feel the need to work the ref. The ref is already on their side.† Alternatively, MSNBC is typically described as left-wing opinionated. An illustration of the type of coverage that is reported is the topic of Obamacare in the U.S.A. When Fox News covers the topic, the primary information that is passed along to its viewers is how much Obamacare will cost the U.S. citizens via way of taxation and that the Democratic President is trying to force unconstitutional laws on the American public. On the opposite side of the spectrum, when MSNBC reports on the subject, the argument is how the healthcare bill will benefit the p oor and the individuals that presently cannot afford primary care. This, undoubtedly, swings in the favour of President Obama. The final argument that Heywood posits is the power of thought control which he describes as influencing others in what they think, want, or need. To demonstrate this, attention is turned to television; children’s television to be more specific. Children’s television channels are consistently bombarded with commercials for the latest toys and any parent dealing with a child pleading for them to buy that latest toy knows perfectly well how influential those commercials can be. When watching these commercials, the parent is typically harassed with comments such as â€Å"Dad, I want that!† or â€Å"Mom, I NEED that!† when in reality, the product being advertised could simply be the identical doll or toy truck that the child currently owns but in a different coloured dress or paint style. As declared by Barnes (1988:1), â€Å"Power is one of those things, like gravity and electricity, which makes its existence apparent to us through its effects, and hence it has always been found much easier to describe its consequences than to identify its nature and its basis†. It has been put forth in this essay that power, as described by Heywood and Boulding, has numerous faces and the development when these powers are enacted has positive and negative consequences. It is assumed by many that governments use and abuse their power on a continual basis. However, as it can be seen from this work, governments are not the only actor to use and occasionally abuse their power. BIBLIOGRAPHY Ackerman, S. (2001) ‘The Most Biased Name in News’, FAIR [online], 01 July, available at: http://fair.org/extra-online-articles/the-most-biased-name-in-news/ [accessed 12 January 2013]. Barnes, B. (1988) The Nature of Power, Cambridge: Policy Press. Boulding, K. (1989) Three Faces of Power, London: Sage Publications. Gibson, D. (2010) â€Å"Drug cartel threatens to kill every child in Mexican border town† Examiner [online], available at: http://www.examiner.com/article/drug-cartel-threatens-to-kill-every-child-mexican-border-town [accessed 10 January 2014]. Heywood, Andrew (2007). Politics, 3rd ed., Hampshire: Palgrave Macmillan. Nagel, J. (1975) The Descriptive Analysis of Power, London: Yale University Press. Russell, B. (1938) Power: A new social analysis, New York: Norton.

Harry S Truman-The Early Years :: essays research papers

Discuss Truman’s early life, including early business, his army service and his political life up through his career in the Senate. Harry S. Truman was born on May 8, 1884, in Lamar, MO. He was the son of John Anderson and Martha Ellen Young Truman. A family compromise between grandfathers middle names, Shipp and Solomon resulted giving him only the middle initial S. Sometimes he used a period (.), sometimes he didn’t. In his early childhood, he moved yearly from farm to farm. In 1890 the family moved to Independence, MO where they remained until 1902. After graduating from High School, Truman worked at several odd jobs until landing a position as a clerk at The Union National Bank. Eventually in 1906, Truman moved back to his grandmother’s farm with his parents and took over running the family farm. Truman had an interest in a zinc and lead mine in Oklahoma—the venture failed with a loss of $2,000. He also invested in oil leases in Texas, Oklahoma and Kansas. Truman and two partners had a well drilled on property in Eureka, Kansas, but Truman gave it up when he joined the Army. Had he stayed back and run the drilling company, he probably would have become a millionaire. Truman took an interest in the Masons and was appointed presiding overseer of a Masonic Lodge and was later elected the lodge Grand Master in 1940. Harry Truman met Elizabeth Virginia (Bess) Wallace in Sunday school when they were both very young, but went through school, graduating together. The two were friendly all through school, although their friendship lapsed when Truman was living and working in Kansas City. When a plate had to be returned to Mrs. Wallace, Bess’ mother, Truman returned the plate and started courting Bess. By early 1917 they were engaged. When the US entered WWII, Truman was sent to Oklahoma as part of the National Guard. He and an advance contingent of the 129th Field Artillery Regiment sailed for France aboard the ‘George Washington.’ Shortly after arriving, Truman was promoted to the rank of Captain and was given command of Battery â€Å"D†, the most unruly group in the regiment. Truman was forthright with the men and it was later recounted that the men ‘idolized’ their captain, referring to him as â€Å"Captain Harry† for the rest of their lives. After the war, Truman and an Army buddy, Ed Jacobson, opened a haberdashery—the shop failed after a few years.

Answer to Chapter

Chapter 5 – Mankiw SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes 1. The price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price. When demand is inelastic (a price elasticity less than 1), a price increase raises total revenue, and a price decrease reduces total revenue. When demand is elastic (a price elasticity greater than 1), a price increase reduces total revenue, and a price decrease increases total revenue.When demand is unit elastic (a price elasticity equal to 1), a change in price does not affect total revenue. 2. The price elasticity of supply is a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price. The price elasticity of supply might be different in the lo ng run than in the short run because over short periods of time, firms cannot easily change the sizes of their factories to make more or less of a good.Thus, in the short run, the quantity supplied is not very responsive to the price. However, over longer periods, firms can build new factories, expand existing factories, close old factories, or they can enter or exit a market. So, in the long run, the quantity supplied can respond substantially to a change in price. 3. A drought that destroys half of all farm crops could be good for farmers (at least those unaffected by the drought) if the demand for the crops is inelastic.The shift to the left of the supply curve leads to a price increase that will raise total revenue if the price elasticity of demand is less than 1. No one farmer would have an incentive to destroy his crops in the absence of a drought because he takes the market price as given. Only if all farmers destroyed a portion of their crops together, for example through a government program, would this plan work to make farmers better off. Questions for Review 1. The price elasticity of demand measures how much quantity demanded responds to a change in price.The income elasticity of demand measures how much quantity demanded responds to changes in consumer income. 2. The determinants of the price elasticity of demand include how available close substitutes are, whether the good is a necessity or a luxury, how broadly defined the market is, and the time horizon. Luxury goods have greater price elasticities than necessities, goods with close substitutes have greater elasticities, goods in more narrowly defined markets have greater elasticities, and the elasticity of demand is greater the longer the time horizon. . The main advantage of using the mid-point formula is that it uses a constant base whether the change in price or quantity demanded is an increase or a decrease. 87 88 Chapter 5/Elasticity and Its Application 4. An elasticity greater than one means that demand is elastic. When the elasticity is greater than one, the percentage change in quantity demanded exceeds the percentage change in price. When the elasticity equals zero, demand is perfectly inelastic. There is no change in quantity demanded when there is a change in price. 5.Figure 1 presents a supply-and-demand diagram, showing the equilibrium price, the equilibrium quantity, and the total revenue received by producers. Total revenue equals the equilibrium price times the equilibrium quantity, which is the area of the rectangle shown in the figure. Figure 1 6. If demand is elastic, an increase in price reduces total revenue. With elastic demand, the quantity demanded falls by a greater percentage than the price rises. As a result, total revenue declines. 7. A good with income elasticity less than zero is called an inferior good because as income rises, the quantity demanded declines. . The price elasticity of supply is calculated as the percentage change in quantit y supplied divided by the percentage change in price. It measures how much quantity supplied responds to changes in price. 9. The price elasticity of supply of Picasso paintings is zero, because no matter how high price rises, no more can ever be produced. 10. The price elasticity of supply is usually larger in the long run than it is in the short run. Over short periods of time, firms cannot easily change the sizes of their factories to make more or less of a good, so the quantity supplied is not very responsive to price.Over longer periods, firms can build new factories or close old ones, so the quantity supplied is more responsive to price. 11. Because the demand for drugs is likely to be inelastic, an increase in price will lead to a rise in total expenditure. Therefore, drug users may resort to theft or burglary to support their habits. Chapter 5/Elasticity and Its Application Problems and Applications 89 1. a. Mystery novels have more elastic demand than required textbooks, be cause mystery novels have close substitutes and are a luxury good, while required textbooks are a necessity with no close substitutes.If the price of mystery novels were to rise, readers could substitute other types of novels, or buy fewer novels altogether. But if the price of required textbooks were to rise, students would have little choice but to pay the higher price. Thus, the quantity demanded of required textbooks is less responsive to price than the quantity demanded of mystery novels. b. Beethoven recordings have more elastic demand than classical music recordings in general. Beethoven recordings are a narrower market than classical music recordings, so it is easy to find close substitutes for them.If the price of Beethoven recordings were to rise, people could substitute other classical recordings, like Mozart. But if the price of all classical recordings were to rise, substitution would be more difficult. (A transition from classical music to rap is unlikely! ) Thus, the quantity demanded of classical recordings is less responsive to price than the quantity demanded of Beethoven recordings. c. Subway rides during the next five years have more elastic demand than subway rides during the next six months. Goods have a more elastic demand over longer time horizons.If the fare for a subway ride was to rise temporarily, consumers could not switch to other forms of transportation without great expense or great inconvenience. But if the fare for a subway ride was to remain high for a long time, people would gradually switch to alternative forms of transportation. As a result, the quantity demanded of subway rides during the next six months will be less responsive to changes in the price than the quantity demanded of subway rides during the next five years. d. Root beer has more elastic demand than water.Root beer is a luxury with close substitutes, while water is a necessity with no close substitutes. If the price of water were to rise, consumers have littl e choice but to pay the higher price. But if the price of root beer were to rise, consumers could easily switch to other sodas. So the quantity demanded of root beer is more responsive to changes in price than the quantity demanded of water. 2. a. For business travelers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(2,000 – 1,900)/1,950]/[(250 – 200)/225] = 0. 05/0. 22 = 0. 23.For vacationers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(800 – 600)/700] / [(250 – 200)/225] = 0. 29/0. 22 = 1. 32. b. The price elasticity of demand for vacationers is higher than the elasticity for business travelers because vacationers can choose more easily a different mode of transportation (like driving or taking the train). Business travelers are less likely to do so because time is more important to them and their schedules are less adaptable. 3. a. The percentage change in price is equal t o (2. 20 – 1. 00)/2. 00 = 0. = 20%. If the price elasticity of demand is 0. 2, quantity demanded will fall by 4% in the short run [0. 20 ? 0. 20]. If the price elasticity of demand is 0. 7, quantity demanded will fall by 14% in the long run [0. 7 ? 0. 2]. b. Over time, consumers can make adjustments to their homes by purchasing alternative heat sources such as natural gas or electric furnaces. Thus, they can respond more easily to the change in the price of heating oil in the long run than in the short run. 90 Chapter 5/Elasticity and Its Application 4. If quantity demanded fell, price must have risen.If total revenue rose, then the percentage increase in the price must be greater than the percentage decline in quantity demanded. Therefore, demand is inelastic. 5. Both Billy and Valerie may be correct. If demand increases, but supply is â€Å"totally† inelastic, equilibrium price will rise but the equilibrium quantity will remain the same. This would also occur if supp ly decreases and demand is â€Å"totally† inelastic. Marian is incorrect. If supply and demand both rise, equilibrium quantity will increase, but the impact on equilibrium price is indeterminate. 6. a. If our income is $10,000, your price elasticity of demand as the price of compact discs rises from $8 to $10 is [(40 – 32)/36]/[(10 – 8)/9] =0. 22/0. 22 = 1. If your income is $12,000, the elasticity is [(50 – 45)/47. 5]/[(10 – 8)/9] = 0. 11/0. 22 = 0. 5. b. If the price is $12, your income elasticity of demand as your income increases from $10,000 to $12,000 is [(30 – 24)/27]/[(12,000 – 10,000)/11,000] = 0. 22/0. 18 = 1. 22. If the price is $16, your income elasticity of demand as your income increases from $10,000 to $12,000 is [(12 – 8)/10]/[(12,000 – 10,000)/11,000] = 0. 40/0. 18 = 2. 2. 7.Yes, an increase in income would decrease the demand for good X because the income elasticity is less than zero, indicating that go od X is an inferior good. A decrease in the price of good Y will decrease the demand for good X because the two goods are substitutes (as indicated by a cross-price elasticity that is greater than zero). 8. a. If Maria always spends one-third of her income on clothing, then her income elasticity of demand is one, because maintaining her clothing expenditures as a constant fraction of her income means the percentage change in her quantity of clothing must equal her percentage change in income. . Maria's price elasticity of clothing demand is also one, because every percentage point increase in the price of clothing would lead her to reduce her quantity purchased by the same percentage. c. Because Maria spends a smaller proportion of her income on clothing, then for any given price, her quantity demanded will be lower. Thus, her demand curve has shifted to the left. Because she will again spend a constant fraction of her income on clothing, her income and price elasticities of demand remain one. 9. a. If quantity demanded falls by 4. 3% when price rises by 20%, the price elasticity of demand is 4. /20 = 0. 215, which is fairly inelastic. b. Because the demand is inelastic, the Transit Authority's revenue rises when the fare rises. c. The elasticity estimate might be unreliable because it is only the first month after the fare increase. As time goes by, people may switch to other means of transportation in response to the price increase. So the elasticity may be larger in the long run than it is in the short run. 10. Tom's price elasticity of demand is zero, because he wants the same quantity regardless of the price. Jerry's price elasticity of demand is one, ecause he spends the same amount on gas, no matter what the price, which means his percentage change in quantity is equal to the percentage change in price. Chapter 5/Elasticity and Its Application 91 11. a. With a price elasticity of demand of 0. 4, reducing the quantity demanded of cigarettes by 20% requir es a 50% increase in price, because 20/50 = 0. 4. With the price of cigarettes currently $2, this would require an increase in the price to $3. 33 a pack using the midpoint method (note that ($3. 33 – $2)/$2. 67 = . 50). b. The policy will have a larger effect five years from now than it does one year from now.The elasticity is larger in the long run, because it may take some time for people to reduce their cigarette usage. The habit of smoking is hard to break in the short run. c. Because teenagers do not have as much income as adults, they are likely to have a higher price elasticity of demand. Also, adults are more likely to be addicted to cigarettes, making it more difficult to reduce their quantity demanded in response to a higher price. 12. In order to determine whether you should raise or lower the price of admissions, you need to know if the demand is elastic or inelastic.If demand is elastic, a decline in the price of admissions will increase total revenue. If demand is inelastic, an increase in the price of admissions will cause total revenue to rise. 13. a. As Figure 2 shows, the increase in supply reduces the equilibrium price and increases the equilibrium quantity in both markets. b. In the market for pharmaceutical drugs (with inelastic demand), the increase in supply leads to a relatively large decline in the equilibrium price and a small increase in the equilibrium quantity. Figure 2 c.In the market for computers (with elastic demand), the increase in supply leads to a relatively large increase in the equilibrium quantity and a small decline in the equilibrium price. d. Because demand is inelastic in the market for pharmaceutical drugs, the percentage increase in quantity will be lower than the percentage decrease in price; thus, total 92 Chapter 5/Elasticity and Its Application consumer spending will decline. Because demand is elastic in the market for computers, the percentage increase in quantity will be greater than the percentage de crease in price, so total consumer spending will increase. 4. a. As Figure 3 shows, the increase in demand increases both the equilibrium price and the equilibrium quantity in both markets. b. In the market for beachfront resorts (with inelastic supply), the increase in demand leads to a relatively large increase in the equilibrium price and a small increase in the equilibrium quantity. c. In the market for automobiles (with elastic supply), the increase in demand leads to a relatively large increase in the equilibrium quantity and a small increase in equilibrium price. d.In both markets, total consumer spending rises, because both equilibrium price and equilibrium quantity rise. Figure 3 15. a. Farmers whose crops were not destroyed benefited because the destruction of some of the crops reduced the supply, causing the equilibrium price to rise. b. To tell whether farmers as a group were hurt or helped by the floods, you would need to know the price elasticity of demand. It could be that the total revenue received by all farmers as a group actually rose. 16. A worldwide drought could increase the total revenue of farmers if the price elasticity of demand for grain is inelastic.The drought reduces the supply of grain, but if demand is inelastic, the reduction of supply causes a large increase in price. Total farm revenue would rise as a result. If there is only a drought in Kansas, Kansas’ production is not a large enough proportion of the total farm product to have much impact on the price. As a result, price does not change (or changes by only a slight amount), while the output by Kansas farmers declines, thus reducing their income. 17. The quantity demanded at various prices is shown in the table below:Chapter 5/Elasticity and Its Application Price 1 2 3 4 5 6 Quantity Demanded 60 30 20 15 12 10 93 Figure 4 The demand curve is shown in Figure 4. When price rises from $1 to $2 (a 66. 67 % increase), quantity demanded falls from 60 to 30 (a 66. 67% decr ease). Therefore, the price elasticity of demand is equal to one. When price rises from $5 to $6 (an 18. 18% increase), quantity demanded falls from 12 to 10 (an 18. 18% decline). Again the price elasticity is equal to one. A linear demand curve has a price elasticity that declines in absolute value as price falls. This demand curve has a constant elasticity equal to one.

Government control Essay

There are many challenges that have to be faced by humanity in the twenty first century. Some of these challenges are major that have to be addressed immediately while there are some challenges that do not require immediate action. The stronger nations are somehow able to tackle some issues but still there are some issues that are difficult to handle. However, the smaller and the weaker countries that lack finances find it difficult to come up with solutions to these 21st century problems. Diversity and unity Diversity is one of the major issues that need attention as people are moving from their native countries to other countries where they find better opportunities. Diversity means differences in cultures, beliefs and habits that create a mixture of cultures. Here, the issue is to maintain harmony amongst the people belonging to different cultures and so it is essential to ensure that harmony does not collapse. Besides diversity, unity is also one major challenges that have to be worked upon and since one country has many different cultures residing in it, maintaining unity is indeed something difficult to achieve. Today, there is an influx of people who have become selfish and they have opted for individualistic approach that has further spoilt the society. Other problems that can be seen are communalism, regionalism and the increase in the rate of violence that is directly and indirectly affecting the value system of the world. Technological advancements Technological advancements have greatly affected the world and are serving as a major challenge. Since these advancements are taking place at a very fast pace, all the nations are trying hard to keep pace with this and for the weaker nations, this serves as a Herculean task to achieve the goals. The first and the foremost thing that has to be done to cure this is to spread literacy and to make everyone educated. It should not be the aim to get degrees and diplomas but the real essence of education should be understood as this will further lead the people to expand their knowledge, wisdom and to develop positive attitudes. However, it is not just important to educate the people but it is also essential to provide with opportunities to the people so that they can use their talents but this is also serving as a major challenge as many people remain unemployed despite of being educated. Industrialization As progress is taking place, industrialization is increasing rapidly and the natural resources are being consumed at a very high rate. Moreover, increase in pollution is also evident and this can bring adverse affects on the people and the environment especially if no action is taken to cure this problem. There are many other strategic challenges that will be faced in the 21st century and most them are caused due to the changes in styles of businesses that have now introduced. Previously, the marketers used to sell one product to the entire market but today, the customers have become more intelligent and savvy and they seek for customer value and since all the companies are battling against each other to grab the share of their piece of cake, it is hard to achieve targets easily as it was done previously. Market volatility has increased and rate at which organizational change is taking place is high and all these changes have a dramatic affect on the business strategies that are made and implemented. When the business needs are changing, it is also a must that there are changes occurring in the requirement of human input too. Employing the right workforce One of the strategic challenges being faced by the companies is the employment of the human resources. The management has to ensure that it employs the workforce that is not only efficient but effective too. However, there are some factors that affect the global instability and there is a huge global impact and people are entering in high numbers in the market that makes it hard for the social arrangement to sustain. Other than this, there is a very vast pool of human resources that are being wasted and this means that the human beings who are being employed are not able to work at their full potential as they not employed in a productive manner. Moreover, more and more people are added to the entire human workforce each year because of which there is a high pressure on the institutions and on the resources. Wastage of resources The non-human resources that are available to the human beings are being wasted at a very high rate. Both the renewable and non-renewable resources are not being fully utilized and are exploited and if this continues, the people will not be left with anything in the future. The environment is having a very negative impact on it because of the human activities that are taking place. The technological explosions are one of the most dangerous as well as costly damage to the society. Other disruptions that are serving as 21st century challenges are air pollution, soil pollution as well as depletion and desertification. Besides this, deforestation and misuse of water are two other factors that are serving as great challenges and if they will not be controlled, this can lead to major problems in the future. Biospheric disruption is another major challenge that needs attention. Despite of the fact that these are unavoidable, we can at least lessen the destruction that can be caused by the natural disasters that includes the climatic, geological, meteorological and space-oriented disasters. Global warming and ozone loss are climatic, earthquakes and eruptions are geological, floods, storms and droughts are meteorological while asteroids are space-oriented. Human insecurity Human insecurity is also a major challenge and this also leading to global unrest due to the violence that is persisting in the world and inter-human combat is occurring due to the ethnic and religious differences. Moreover, hazardous frustration has to be reduced and since the weapons are being created, they are being used as well and since there is an increase in unemployment, terrorism is increasing in the society. People have to fulfill their basic needs without which survival is more than impossible because of which they are doing crime. Due to this, the crime rate is increasing and is leading to unrest in the society and also affecting world peace. The numbers of extremists are increasing day by day and drug dealers have also outnumbered because of which the youngsters are getting immune to drug usage and are doing crime. Medical challenges Countering the medical challenges also needs immediate action and there are two main trends that are causing increase in health concerns. Firstly, both the people and the things are moving and this has caused transfer of various kinds of diseases that the other people are getting from the humans and from the animals. Even the animals that have some kind of disease are a major threat of spreading diseases. Moreover, the animals that are consumed by the human beings are getting diseases such as bird fly and mad cow disease and if any animal suffering from any such disease is consumed by the human being, it will create serious problems for that individual. Secondly, people are using antibiotics at a very high rate and this has produced more resistant mutations. For this, tighter preventives and control measures are required to ensure human security. Rules and laws A global rule is lacking in the world and so it is serving as a challenge to the society as the world is lacking universal rules and these should be created so that global standards are formed. Today, the world has become a global village and for this it is essential for it to have some universal laws and regulations that must be followed by all the countries. However, the international law must keep pace with interdependence as well. Therefore, global rights must be developed and should also be accepted and implemented by the society. It is argued by some governments that human rights are based on the cultures but universally there should be one common ground or code on the basis of which a norm should be developed. Migration Compared to the previous years, the rate of migration has greatly increased and people are looking for more opportunities outside their home country. It has indeed become difficult to handle all these immigrations and to provide jobs to the people who are moving to the other countries such as United States, UK, Canada and Australia. There are refugees too, who are forced to move out of their own countries and these people have to be settled in other countries where they move. These people create problems when they move to other countries and this is resulting in increase in the global issues that have to be dealt on a global level only. Financial money transfers and trade It has also become difficult to maintain global financial checks and since the number of financial transfers is increasing day by day, the role the government plays and the government control is reduced. Moreover, it also threatens the stability of the currencies and so it is suggested to apply certain percentage of taxes on such transfers. International trade is also growing but it is creating new problems for which negotiation has to be done between the trading countries. Moreover, regulation and adjustment is also needed to keep things smooth. The World Trade Organization ensures that it deals with the rapidly growing trade in a proper manner; however there are still some challenges that have to be met. Trade of services is also growing and the world has to face chronic problems with agricultures and other issues such as problems related to international investment. Corruption has also increased at a major rate and this has also become a major challenge to the world trade. There are many economic agreements that are treated globally and they are becoming more and more complex with the increase in trade. Taxing of international trade has become an issue as well and negotiations have to be made to come up to a common stand. Conclusion Due to all the problems that are being faced by the human beings, the rate of global distress is accelerating day by day and this is leading to serious problems. People become frustrated and hopeless due to the current situation. Income divergence is also increasing between nations and this challenge must be addressed immediately. All the 21st century problems that have been talked about above are sociological, philosophical, economic, historical, and geological and they relate to the human activities in some or the other way. The goal of the human beings should always be to minimize the threat that they get from these challenges if they cannot fully be removed. Moreover, the people should be educated about these disasters and challenges and they should be told about the ways they can adopt to reduce any negative impact created by the human activities. Besides this, backup plans should be made to ensure that the destruction is dealt properly and results in least problems. 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