UK Cheese Market Analysis

UK Cheese Market Analysis Assignment about The Cheese and its Determining Factors on the Market Executive Summary Economy in the real world is not just a subject in the university, but the major basic of a modern day business. â€Å"The large set of inter-related economic production and consumption activities which aid in determining how scarce resources are allocated.† (Investopedia.com, 2014) The report describes the cheese market in the United Kingdom. Highlight the relationship between wine and its compliment, the cheese and how the actual market responsive to economical changes, such as demand, supply, elasticity and equilibrium. Table of Contents Introduction.4 Main Body5 1.The aspects which influencing the amount of cheese..5 2. About Elasticity and Inelastic6 3. About Equilibrium.7 4. Example for the cheese` prise changing..8 5. Recently used marketing strategy..9 Conclusion..10 Bibliography.11 Introduction This report created by the Author –Mr. Istvan Csuha– on the request of Northampton University on the behalf of its subsidiary the London School of Business and Management and their lecturers in respect Prof. Bruce Johnson to clarify the position of the cheese market in the United Kingdom, the key economic factors which influences marketers and consumers in the decision making process. Main Body The aspects which influencing the amount of cheese The aspects influencing the amount of cheese that shoppers request can be categorised four main parts (Begg, D. & Ward, D., 2007, P.26-32), such as: Costs of surrogates: relates to researches (Fitday.com. 2013). there are some options to alternate cheese, but the prices of those merchandises is higher and do not give back the same taste, as cheese, therefore only a small amount of clients will leave â€Å"the cheesy side†. Salary of the clients: an investment banker demand is completely different, then a street cleaner and one of the key motivator is what they can afford; ASDA have been closely monitored and the finding is, individuals can purchase cheese products from  £2 up to  £20, therefore cheese products widely accessible to everyone (ASDA.com. 2014). Various flavours: Every single human being different from the other, so as their tastes and conclusion of that, they required different products. Value: is the product worth the sum of money what the retailer asking for it; if the answer is yes, then highly possible the quantity demanded by a consumer is higher. About Elasticity and Inelastic The characteristics of the magnitude of cheese that manufacturers and retailers supply is strongly related to the previous part of the report, but a new economic term has to be considered, Elasticity: â€Å"Price elasticity of supply measures the relationship between change in quantity supplied and a change in price.† (Tutor2u.net. 2014). There are Inelastic is the modification in the price indicates a proportionately minor modification in the quantity required. (Begg, D. & Ward, D. 2007, P.35) Elastic is the modification in the price indicates considerable larger modification in demand. (ibid, P. 32-35) There is another very important factor what every supplier have to consider regarding the amounts need to supply and is called a well-known PESTEL analysis -macro-environmental aspects, what a supplier cannot change, only can adapt to them. Assuming there are alterations in the purchasers â€Å"tongs†: Consumer demand decreasing= retailer profit decreasing also. Overcome on that retailers has to start manufacturing products, therefore they have to enter a new segment of the market. Avoid failure Porters five forces advisable to considered, -designed to evaluate the possibilities of the company upon entering to a new market and/or segment. Assuming there are modifications in the manufacturers technology, -that is a technological factor from the mentioned PESTEL analysis-: In that occasion the retailer or the consumer only can adapt to that factor, in that case keep purchasing products, but less quantity (if the technology is not as cost-effective anymore, therefore the price of the product rising too), or find a substitute (either retailer or substitute product). Therefore price elasticity applied. About Equilibrium Equilibrium of â€Å"cheese market wise†, when the manufacturer selling the product for the price, what a retailer is demanded, or the distributor selling the merchandise for the price, what a consumer demanded. (ibid, P.76) According to worldwide known economists and authors of many books the forces that drive the market in the direction of its equilibrium are: The connection between the alteration of need and supply and prices: if the need of cheese products rising, supply has to follow, then retailers raise their prices too, therefore the equilibrium will balanced again. Need for cheeses falling, then traders have to reduce their activity, therefore prices will fall too. That is the optimal market scenario. (ibid, P.88) Example for the cheese` prise changing Assumption: a hypothetical situation, when the price of wine increases. First we have to clarify the right questions. The author of these report was that fortunate, came from the family which have long-lasting history –and himself spent over ten years as well- in the Hospitality and Catering Industry; worked from kitchen porter through sommelier assistant to night manager in various countries and several high-end catering event as well (for example: wine-waiter at the House of Parliament in Hungary), therefore to clarify and answer this questions was his table. Why wine and cheese related to each other? How the supply of wine and cheese will change? How the needs of wine and cheese will change? Will the prices of cheese change? Are the amount of cheese and wine supplied and demanded will change? The answers are the following: Many countries –especially the ones with long-lasting histories and more mature cuisine i.e.: France and the United Kingdom- use cheese, as a substitute of desserts, also another reason possibly, because the weather colder than for example Italy and Spain. Those countries, consuming mostly wine for/and throughout the meal, if their choice for the dessert is any sweet, -such as ice cream or crà ¨me bulee-, they choose a light and sweet liquor, or a dessert-wine; but when they choose cheese, then the wine has to be semi-dry, or dry light white-wine. When the price of wine increasing, in the short term the supply will be the same, until marketer realise the equilibrium turned into a disequilibrium –at this occasion the proper term is surplus, when the supply of goods greater than its demands-, and they want to balance again; therefore marketers reducing supplies. The needs of cheese and wine at the event of the price of the wine increase can be: The increase of the price will be minor, therefore only small amount of purchaser decide to discontinue consuming those products, therefore inelasticity occur. When the needs of cheese and wine reactive to the price change, then â€Å"massive† amount of purchasers decide to discontinue purchasing products= elasticity occurs. The price of the cheese can be reactive to the wine price (elastic), or non-reactive (inelastic). When: The quantity of demand reactive to the price change: yes= elasticity; The amount of need non-reactive: no= inelasticity; Marketers want to balance the equilibrium, yes, when the demand decreases, the quantity of supply has to follow, therefore the price will change to; when equilibrium reached, demand is increasing, supply increasing, prices increasing. 5. Recently used marketing strategy Companies nowadays like to use a new marketing strategy. Organisations evaluate the demand and the quantity of demand, they producing less quantity of product, therefore artificially create shortage and they can raise the prices too, i.e.: entry-tickets for pop-concerts. (ibid, P.85-86) Conclusion The report found the cheese market very responsive for price changes, which is depending on various factors. Found also the definition of economy; clearly concluded the meaning / variations of elasticity, moreover described the definition of equilibrium. Bibliography ASDA.com. (2014). Asda Groceries. Available: http://groceries.asda.com/asda-webstore/landing/home.shtml?cmpid=ahc-_-ghs-sna1-_-asdacom-dsk-_-hp#search/cheese/7/price_asc. Last accessed 11.12.2014. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p26-p32. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p32-p35. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p76. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill.p85-86. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p88. Fitday.com. (2013). Substitutions for Cheese. Available: http://www.fitday.com/fitness-articles/nutrition/healthy-eating/substitutions-for-cheese.html. Last accessed 11.12.2014. Investopedia.com. (2014). Definition of Economy. Available: http://www.investopedia.com/terms/e/economy.asp. Last accessed 11.12.2014. Tutor2u.net. (2014). Elasticity of Supply. Available: http://www.tutor2u.net/economics/content/topics/elasticity/elasticity_of_supply.htm. Last accessed 11.12.2014. LON 15403546Mr. Istvà ¡n Csuha

Profile of Coca Cola Ghana Essay

The Coca Cola Bottling Company was first established in 1886 by Dr. John Styth Pemberton in the United States of America (Atlanta) and has since been enjoyed in over 200 countries worldwide including Ghana who started its operations in 1995. The company believes that to be successful in the changing world we need to continue to thrive as a business over the next twenty years and beyond, we must get ready for tomorrow today that’s what our 2020 vision is all about. Our Mission To refresh the world To inspire moments of optimism and happiness To create value and make a difference Our vision We serve as the frame work for our roadmap and guide every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth. People: be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual and enduring values. Planet: be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit: Maximize long-term return to shareholders while being mindful of our overall responsibilities Productivity: Be a highly effective, lean and fast-moving organization. OBJECTIVES Increase sales by 100% by the end of 1st year. To be able to cover the whole country by the end of 2nd year. in non alcoholic beverage in future.

Marx and Weber’s Analyses of the Development of Capitalism Essay

Capitalism is defined as ‘An economic and political system in which a country’s trade and industry are controlled by private owners for profit.’ It is based on the division between two classes, one of which owns the labour of the other. Not only do the upper classes, or the bourgeoisie, own the means of physical production but also the means of ‘mental production’. They control and manipulate society through the rule of education, religion and the media. Althusser distinguishes between repressive state apparatuses and ideological state apparatuses and argues about how the bourgeoisie manages to maintain its rule. He argues that the repressive includes the police and the army in which use physical force to control the working class as opposed to the ideological apparatuses such as the media and religion which control the development of ideas. A key component of capitalism is that the working class are forced to sell their labour in exchange for wages i n order to survive. However, they do not receive an equal exchange for the labour they produce, but only the cost of subsistence. The difference of what the bourgeoisie receive from the labourers and the amount they pay back is called the surplus value, meaning the profit they make. Max Weber was one of the founding fathers of sociology and contributed highly to our knowledge of how society works. Weber’s work can be highlighted by referring to his study The Protestant Ethic and the Spirit of Capitalism, first published in 1905 (22 years after the death of Karl Marx in 1883). Weber argues that the Protestant Reformation introduced a new belief system of Calvinism (a form of Protestantism founded by John Calvin during the reformation) which promoted a high work ethic and which eventually led to the rise in capitalism. Calvinists believed that God preordains the ‘elect’ meaning of who would be saved after death and go onto heaven and who would not. This could not be changed through hard work or leading a good life as the decision had already been decided. This made Calvinists strive for success, with which they would reinvest into making more money, hence the development of capitalism. Weber distinguishes the differences between the capitalism of greed and wealth in past societies to those of present. Modern day people are pursing profit for its own sake rather than for consumption, hence why the Calvinists reinvested their wealth. Weber calls this the spirit of capitalism. He further argues that this was the reason capitalism was stronger in places like Europe and America and not in other places where Protestantism wasn’t so established. Weber also distinguishes between many different existing forms of capitalism including ‘traditional capitalism’ and ‘booty capitalism’; however the crucial ideal type is the one named modern capitalism, or rational capitalism meaning the repetitive, ongoing economic activity on the basis of rational calculation. Understanding what needs to happen and what the best way of achieving it is, allows for reinvestment and the growth of economic enterprises. He argues that it is the rational side of modern capitalism that distinguishes it from other advanced economic areas such as China and India, both of which had higher and more advanced infrastructures in the 17th century compared to Europe and America. However, Weber is hugely criticised for his understanding of the rise in capitalism due to others believing that it was the peoples relationship with the material forces and there means of subsidence which drove the change. Weber takes a key focus on religion and the impact that had on the rest of society as well as capitalism, whereas Marx focuses on class conflict. Marx argues that through industrialisation capitalism had been forced to increase due to growing separation of the two contrasting classes. One class is the exploiting bourgeoisie who own the means of production and the other class being the proletariat who own nothing but their own labour. Marx predicted that the working class would eventually become conscious of their alienation and exploitation and unite to overthrow capitalism. This would slowly bring in a system of socialism which would gradually evolve into a pure classless communist society lacking in exploitation. He argued that capitalism would disintegrate due to interior tensions, just like every other social system. He believed that communism was inevitably the next stage in the line of historical changes to class systems. Just as feudalism was replaced by capitalism, so capital ism would be replaced by communism. Marx argues that religion performs a different function than that of what Weber argues. Instead it operates as an ‘ideological weapon’ used by the bourgeoisie to justify the suffering of the poor as something unchangeable and ‘god-given’. Religion persuades the working class that their suffering is honourable and moral and will be favoured in the afterlife. This is evident in the Christianity teaching of it is ‘easier for a camel to pass through the eye of a needle than it is for a rich man to enter the kingdom of heaven’. This manipulates and oppresses the proletariat as it renders them blind to capitalistic trends; ensuing and maintaining false class consciousness. However, Marx can be criticised for ignoring the positive functions that religions perform, made apparent by the psychological adjustment to misfortune that it offers. Abercrombie and Turner (1978) argue that ‘in pre capitalist society, while Christianity was a major element of ruling-class ideology, it had only limited impact on the peasantry’ (A2 Sociology AQA Specification, 2009, pg 13) However, although Marx does argue that religion helps to control the manipulation of ideas of the working class he also believes that it is ‘the heart of the heartless world and the soul of soulless conditions’, as it can act as an distraction to dull the pain of exploitation. When comparing and contrasting two very highly influential historians such as Karl Marx and Max Weber, some would argue that it is highly important to look at their overall impact on society as well as humanity. Karl Marx focused highly on philosophy and his work is still influential in many cultures worldwide today. This contrasts to Max Weber who is considered ‘one of the fathers of modern thought’ and could be considered one of the world’s most intellectual and influential persons. Although both historians share clear similarities, for example both coming from a European Protestant background they also contrast and have distinct differences. Weber criticises Marx’s theory as he believes that his view is too one dimensional and simplistic when looking at inequality. Weber argues that this is due to Marx seeing class as the only important division. Weber argues that status and power also have high impact on the volume of inequality. He points towards the ‘power elite’ for evidence and argues that they can rule without actually owning the means of production. Currently there are many independent companies that can control and rule particular labourers without being a part of the bourgeoisie, it is not as simple as Marx likes to preach. A great amount of people are in other situations than the time when Marx was writing, for example ‘dealers in information, managers and civil servants’, meaning that the relative importance of the struggle between owners and workers has relatively declined. Although Marx and Weber have severe differences in their evaluation of modern capitalism their augments also share many similarities. They both believe that the economic system is a place where â€Å"individuals are directed by abstractions† (Marx). We must also take into account the times of which both sociologists were writing. Weber is writing nearly half a century later and focuses highly on the impact of power, wealth and prestige. He argues that these were the three main factors contributing to capitalism and the distinction of classes. This contrasts to Marx who focuses singularly on the impact of class and how the contrast of bourgeoisie and proletariat impacted on the rise of capitalism. However, both of their summaries of overthrowing capitalism share many similarities. Both sociologists argue that in order for capitalism to be overthrown the working class must unite together to overthrow the ruling class and free themselves from capitalist oppression. Bibliography Karl Marx and Friedrich Engels (1932). The German Ideology . Moscow: David Riazanov. Karl Marx and Friedrich Engels (1848). Manifesto of the communist party. London. Max Weber (1978). Economy and Society. California: University of California Press. Thomas Hobbes (1988). The Leviathan. London : Penguin . Phil Bartle. (2007). Marx vs Weber. Available: http://cec.vcn.bc.ca/cmp/modules/cla-mweb.htm. Last accessed 10th October 2012. Louis Althusser. (1970). Ideology and Ideological State Apparatuses. Available: http://www.marxists.org/reference/archive/althusser/1970/ideology.htm 970. Last accessed 10th October 2012 Michael Lowy. (2006). Marx, Weber and the Critique of Capitalism . Available: http://internationalviewpoint.org/spip.php?article1106 . Last accessed 10th October 2012. No Author. (1999). Max Weber. Available: http://uregina.ca/~gingrich/s30f99.htm. Last accessed 10th October 2012. D. Sayer, Capitalism and Modernity: An Excurses on Marx and Weber, pg. 4, London: Routledge, 1991. Cuff, E. C., W. W. Sharrock and D. W. Francis, Perspectives in Sociology, third edition, London, Routledge, 1992.

Make Potassium Chlorate From Bleach and Salt Substitute

Potassium chlorate is an important potassium compound that can be used as an oxidizer, disinfectant, source of oxygen, and component in pyrotechnics and chemistry demonstrations. You can make potassium chlorate from common household bleach and salt substitute. The reaction is not particularly efficient, but its something to keep in mind if you need potassium chlorate right away or just want to know how to make it. Key Takeaways: Make Potassium Chlorate From Bleach and Salt Substitute Potassium chlorate is used as an oxidizer, disinfectant, and colorant (purple) in chemistry demonstrations and fireworks projects.While its not the most efficient chemical reaction, its simple to make potassium chlorate by boiling bleach, cooling it, and mixing in a saturated solution of salt substitute in water.The synthesis works because potassium from the salt substitute displaces sodium from the sodium chlorate made by boiling the bleach. The product is sodium chloride and potassium chlorate. Since potassium chlorate is not very soluble in water, it precipitates and may be collected by filtration. Materials for Making Potassium Chlorate You only need two ingredients to synthesize potassium chlorate: Chlorine bleachPotassium chloride (sold as a salt substitute)Filter paper or coffee filter Take care to check the label on the salt substitute to make certain the ingredient is just potassium chloride. While salt substitute is potassium chloride, lite salt is a mixture of sodium chloride (table salt) and potassium chloride. The reason this project works is because potassium replaces sodium in sodium chlorate. Basically, you need to make certain you are supplying the potassium. While it shouldnt be significant, keep in mind household bleach has a shelf life. If your bottle of bleach has been opened and stored a long time, its a good idea to get a fresh one for the project. Prepare Potassium Chlorate Boil a large volume (at least a half liter) of chlorine bleach, just until crystals start to form. Do this outdoors or under a fume hood, to avoid inhaling the vapor. Boiling bleach disproportionates sodium hypochlorite into sodium chloride and sodium chlorate.3 NaClO → 2 NaCl NaClO3As soon as crystals start to form, remove the bleach from heat and allow it to cool.In a separate container, prepare a saturated solution of potassium chloride by stirring potassium chloride into the water until no more will dissolve.Mix equal volumes of the boiled bleach solution and potassium chloride solution, taking care to keep solids from either solution out of the mixture. This is a substitution or single replacement reaction. The two products are separated based on solubility. Potassium chlorate will precipitate out, leaving sodium chloride in solution.KCl NaClO3 → NaCl KClO3Cool the solution in the freezer to increase the potassium chlorate yield.Filter the mixture through filter paper or a coffee filter. Keep the solid potassium chlorate; discard the sodium chloride solution.Allow the potassium chlorate to dry before storing or using it. NurdRage has a video of the process if youd prefer to see how its done. Potassium chlorate is used in fireworks as an oxidizer and to produce a purple flame. Teeraphon Phooma / EyeEm / Getty Images You can test the potassium chlorate in a simple chemistry demonstration: Purple Fire (shown) - Mix potassium chlorate and half as much sugar. Ignite the mixture either by applying a flame or adding a few drops of sulfuric acid (instant chemical fire).Dancing Gummi Bear - The candy is the source of the sugar in this demonstration. The vigorous reaction between the candy bear and the potassium chlorate makes the bear appear to dance in purple fire. Other uses of potassium chlorate include safety matches, fireworks, disinfectants, pesticides, firearm primer, and to force plant blooming. It is also a good starting point to prepare oxygen gas or chlorine gas. Safety Tips This is a project that should be performed with responsible adult supervision. Undiluted bleach can cause skin irritation and damage eyes and mucous membranes if splashed. Heating bleach should be done outdoors or under a fume hood, as irritating vapors are released. Finally, keep the potassium chlorate collected in this project away from heat or flame until you are ready to use it. It should be stored away from sulfuric acid and sulfur, as spontaneous ignition may occur.

Why Don t You Dance Essay - 1604 Words

Will Ferrell and Raymond Carver, do these names sound familiar to you? The film â€Å"Everything Must Go† by Dan Rush is based on Raymond Carver’s short story â€Å"Why Don’t You Dance?†. This film and short story are related in events, but (Everything Must Go) has more detail and depth of the original story line. The short story has no clear plot and leaves the reader guessing about the ending. While the short story â€Å"Why Don’t You Dance?† shares aspects of alcoholism, changes and growth of a man and relationships of characters, the film â€Å"Everything Must Go† utilizes them better. In the film the theme of alcoholism is expressed through the character Nick Halsey. In the beginning of the film, Nick Halsey loses his job and his wife leaves him. We soon find out he was fired because of his alcoholic related charges. His wife left due to Nick cheating and his alcohol abuse. The next scene of the film is Nick at the liquor store, buying beer to cope with his emotions. Throughout (Everything Must Go), Nick drinks while driving, drinks while cleaning up, and when he cannot afford beer he acts out in rage. All these signs tell the viewer that Nick has an addiction to alcohol. During this film, one might notice that Samantha, Gary and Samantha’s husband may be alcoholics too. Samantha lends Nick pills called â€Å"valium† which are to help with withdrawal. Gary, whom is Nick’s old boss, runs into Nick at a bar and leaves his beer in the bathroom. A viewer might think it isShow MoreRelatedPersonal Narrative : Hi 1011 Words   |  5 PagesCaitlyn. I don t know what stage of grief your at right now but its probably either denial or anger. But I love you so much. I know you won t believe this but I didn t kill myself because of you. You know my reasons and they weren t because of you. Don t keep thinking it because you know for a fact I didn t I told you over a million times I would never kill myself because of you. 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Autism Spectrum Disorder - 1391 Words

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The two founding researchers that discovered the disorder are KannerRead MoreAutism Spectrum Disorder And Autism1827 Words   |  8 Pagesin the United States had one or more developmental disorders in 2006-2008. This can affect the person mentally, physically, emotionally, or a combination of the three. These range from something as simple as a speech delay to something as complex as cerebral palsy. One of these developmental disorders is autism. Autism can cause social, communication, and behavioral challenges. One in 68 children are affected by autism. Autism Spectrum Disorder (ASD) is 4.5 times more common in boys. One in forty-twoRead MoreAutism Spectrum Disorder ( Autism ) Essay1739 Words   |  7 Pagesconventions (Lai, 2014). These two observations would be the beginning of a disorder known as the Autism Spectrum Disorder. This developmental d isorder, characterized by a range of deficits in different areas, is increasingly prevalent in society and in the media. While the exact numbers vary from country to country, according to Lai (2014), 1% of the general population is diagnosed with an Autism Spectrum Disorder. The range of this disorder has a detrimental effect on society, specifically the educationalRead MoreAutism Spectrum Disorder ( Autism ) Essay1858 Words   |  8 Pages Autism Spectrum Disorder affects various aspects of an autistic child’s life. Many children are diagnosed with autism spectrum disorder every year, while others go undiagnosed for an extended time, or even for their whole life. A child exhibiting delays in language benchmarks or showing little interest in the surroundings should be examined for possible ASD. Language is often impaired and although the level of impairment can range from severe too unnoticeable in each child, a child is likely toRead MoreAutism Spectrum Disorder1446 Words   |  6 PagesPublic Health Problem Autism or autism spectrum disorder ( ASD) is a developmental disorder that has been found world wide. However unlike many other disorders, autism is fairly new in the sense that there is no cure nor a set factor causing it. Today, the public is more aware of the disorder, yet there is still concern about how to treat autism in children as well as what risk factors are more likely to lead to autism. Autism has been around for the past hundred years, however previous to theRead MoreAutism And Autism Spectrum Disorder1267 Words   |  6 Pages and the way he interacted with others, spoke to me on a profound level. I know autism when I see it. For those not familiar with autism, Autism Speaks, the world’s leading autism science and advocacy organization, defines autism and autism spectrum disorder (ASD), as both general terms for a group of complex disorders of brain development. These disorders are characterized, in varying degrees (hence, a â€Å"Spectrum† that includes both low- and high-functioning individuals), by difficulties in socialRead MoreAutism Spectrum Disorder1409 Words   |  6 Pagesboys and 1 in 189 girls are diagnosed with autism in the United States (Autism Speaks, n.d.). Can be diagnosed in all racial and ethnic groups, as well as every age group. In the 2013 publication of DSM-5 diagnostic manual, Asperger syndrome, Autistic disorder, childhood disintegrative disorder, and Pervasive Developmental Disorder- not otherwise specified (PDD-NOS) were merged into one category of ASD. This paper will explain what Autism Spectrum Disorder is, causes, signs and symp toms, diagnosisRead MoreAutism Spectrum Disorder And Autism1401 Words   |  6 PagesIn America about one out of 88 children have autism spectrum disorder and about 36,500 in four million children are born with autism. Currently approximately 1.5 million adults are living with autism in the United States. The autistic brain is a complicated phenomenon, which has required many years of research in the biomedical field by institutes, organizations, and the government to comprehend the disorder. Depending on the severity of the disorder – low functioning or high functioning – and theRead MoreAutism Spectrum Disorder And Autism Essay2049 Words   |  9 Pages Autism and Asperger’s are two syndromes that are now looked as being part of the ‘Autism Spectrum Disorder’. Asperger’s is on the high functioning end while Autism is on the low functioning end. Before the ‘autism spectrum’ was created, in nineteen forty-three and nineteen fo rty-four, a psychiatrist named Leo Kanner and German scientist named Hans Asperger discovered Autism and Asperger’s. Their research included looking at cases of children who were different and had qualities of aloneness, obsessiveness

The Importance of Money free essay sample

In this topic we will be studying and describing the fundamental role that money plays in facilitating exchange and, thereby, allowing for specialization. Why Specialization? Then you need to think about it: why money leads to specialization? why an economy needs to use money at all . We may also discuss on the disadvantages of barter. The other thing that need to be focused on is measurement of money. Why we have different type of measurement of money supply? What is the purpose? Last and not least the idea of the payments system, that is, a discussion on the evolution of the payments system from precious metals to currency and checks to electronic funds transfer services—such as automated teller machines (ATMs) and debit cards. For those who be in the forum, try your best to answer the questions that have been given here. These are some of the questions that we are to discuss it in first seminar. We will write a custom essay sample on The Importance of Money or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Outline I. Meeting the Needs of Exchange with Money A) Money makes exchange more efficient and allows for specialization. B) The type of exchange known as barter, where goods and services are exchanged directly for other goods and services is inefficient because it incurs high transactions costs. C) Voluntary trade may be sidestepped by using government allocation to distribute goods and services, but this is unlikely to be successful because it ignores market forces. D) Money has four key functions that make it the most efficient means of trade: 1. Money acts as a medium of exchange, which is anything that is generally accepted as payment for goods and services or in the settlement of debts. . Money is a unit of account, which is a way of measuring value in the economy in terms of money. 3. Money is a store of value, in that it is an asset or a thing of value that can be owned and is, therefore, a component of wealth. 4. Money offers a standard of deferred value in credit transactions. E) The value of money depends on its purchasing power. 1. A decline in the purchasing power of money is known as infla tion and an increase in the purchasing power of money is know as deflation. 2. Changes in the value of money over time can be computed using a price index, which is a summary statistic that reflects changes in the price of a group of goods and services relative to the price in a base year. F) There are five criteria a good must meet to be suitable as a medium of exchange: 1. The good must be acceptable to most traders. 2. It should be of standardized quality. 3. It should be durable. 4. It should be valuable relative to its weight. 5. It should be divisible. II. The Payments System A) The mechanism for conducting transactions in an economy is known as a payments system. B) Definitive money is money that does not have to be converted into a more basic medium of exchange. C) Physical goods, such as gold and silver, when used to accomplish trade are called commodity money. D) A system in which the definitive money is money authorized by a central bank or governmental body as legal tender—that is, the money must be accepted to discharge debts and tax payments must be in cash or checks denominated in that money—is known as a fiat money system. E) Checks are promises to pay definitive money on demand and are drawn on money deposited with a financial institution. 1. Settling transactions with checks requires more steps than settling transactions with cash. 2. Checks are less liquid than cash and there is a cost to using checks. F) Settling and clearing transactions can now be done with computers in electronic funds transfer systems. 1. Debit cards and automated teller machines are examples of electronic funds transfer devices. . Eighty percent of the dollar value of transactions among financial institutions is conducted electronically. G) The efficiency of the payments system reduces the cost of settling transactions. III. Measuring the Money Supply A) Economists have developed different definitions of the money supply based on the differences in the assets included as money. B) The narrowest definition of the money supply is M1, which includes currency, travelers checks, and checking account deposits. C) M2 includes the assets in M1 plus short-term investment accounts. D) M3 includes the assets in M1 and M2 plus such less liquid assets as large- denomination time deposits, institutional money market mutual fund balances, term repurchase agreements, and others E) In the 1980s and 1990s economists and policy makers have considered M2 the best measure of the money supply. F) The monetary aggregates move broadly together over long periods of time, although there have been significant differences in their movements during certain periods.