The Debate Over Stem Cells - 1144 Words

According to the Merriam Webster Dictionary, ethical is defined as â€Å"pertaining to or dealing with morals or the principles of morality.† Whereas, unethical is defined as â€Å"lacking moral principles or unwilling to adhere to proper rules of conduct† (Dictionary). The topic of ethicality is often hotly debated in all aspects of society. As medicine and science begin to rapidly advance each day, the use of stem cells, in regards to research, is becoming extraordinarily prevalent. I believe that the use of stem cells is unethical to a certain extent. Stem cells are cells that are able to renew themselves as well as the ability to generate specialized cells. Scientists refer to these tiny, magnificent cells as stem cells because many different types of cells can stem from them. Stem cells have the ability to develop into other cell types that mature into cells that have specialized functions. For example, stem cells can progress into heart, skin, or nerve cells (Kelly 4). The two main stem cells used in research are embryonic stem cells and somatic stem cells (â€Å"Stem Cells†). Embryonic stem cells are taken from human blastocysts, which is a very early human embryo (â€Å"Stem Cells†). At this stage, the blastocyst has only been fertilized for five to ten days and consists of just one hundred to two hundred cells (Boston Children s Hospital). A common misconception regarding the derivation of embryonic stem cells is that they are derived from eggs fertilized in the woman’s bodyShow MoreRelatedThe Debate Over Stem Cells2008 Words   |  9 PagesHave you ever wondered what stem cells are and why they are important? Have you heard that stem cells are controversial but do not know why? Scientists have been studying stem cells and their ability to regenerate tissues in the body for years. Having the body regenerate itself is not as crazy as it once sounded. Stem cells are very small, immature cells in the human body that are capable of becoming many types of cells. Researchers have been able to find different applications in treating theRead MoreThe Debate Over Stem Cells1159 Words   |  5 Pagesdiabetes? These are just a few examples of the diseases that stem cells can treat. A stem cell is a cell that has the potential to mutate into many different types of cells in the body. Ever since stem cells were discovered, they have gained popularity and started to spark interest in scientists all across the world. Today there is a vigorous battle on the ethics, legalization, and experimentation of stem cells. Although stem cells are still being highly debated, they can open new doors in theRead MoreThe Debate Over Stem Cell Research936 Words   |  4 PagesStem cell research is full of controversy with a million different opinions on each side of the argument. In this essay, the â€Å"pro† side will be viewed and discussed. The background, the pros, the experiments and other information will be deliberated. Hopefully by the end of the composition, one will understand the benefits of stem cell research. In the early 1900s, Alexander A. Maximow was the first to actually use the term â€Å"stem cell† when he discovered the cell. He was a Russian-American physicianRead MoreThe Debate Over Embryonic Stem Cells851 Words   |  4 Pagesâ€Å"Over 100 million Americans suffer from diseases that eventually may be treated more effectively or even cured with embryonic stem cell therapy. Some researchers regard this as the greatest potential for the alleviation of human suffering since the advent of antibiotics† (White). However, not everybody agrees with this. While embryonic stem cells offer much hope for medical advancement because of their ability to grow into almost any kind of cell, the moral debate of the destruction of an embryoRead MoreThe Debate Over Stem Cell Research1027 Words   |  5 PagesStem cell research is the study of basic cells that are grown in laboratories where tests are made to determine the essential properties of the cells. Over the past few decades , stem cell research has become a popular scientific debate and controversy. Stem cell research is still considered to be relatively new technology that is responsible for taking human cells and developing them into 220 different cells in the human body. Stem cell research has the potential to help disease research and managementRead MoreThe Debate Over Stem Cell Research1196 Words   |  5 Pagesa major controversy over the topic of stem cell research. It seems to be that the main controversy when it comes to the topic of stem cell research is an ethical debate, and because of this it seems that the side opposing stem cell research always wins due to their use of pathos when it comes to their argument. I personally do not side with those against the idea of stem cell research because I believe that the pros outweigh the cons when you break it down this way. Stem cell research could be theRead MoreThe Debate Over Stem Cells And Cloning1398 Words   |  6 PagesAbstract Stem cells and cloning are very controversial today. There are debates and arguments about it all over the internet. The idea of stem cells is to use them to help cure and prevent diseases. You can use embryonic and adult stem cells. That’s one of the reasons people argue about it, because it kills the potential life of the embryo. [Stem Cells and Cloning] Stem cells and cloning is very controversial in today s society. Some people believe it’s not a good idea because it destroysRead MoreThe Debate Over Stem Cell Research1601 Words   |  7 PagesThe stem cell controversy has been going on for many years. The two basic controversies surrounding stem cell research is whether or not it is morally justifiable, and if stem cells will ever live up to the medical promises. Most of these controversies concern embryonic stem cells more than any other stem cells. Embryonic stem cells are unspecialized, but have the ability to divide and make specialized cells like muscles, nerves, and skin cells. These cells are found in the early stage of human developmentRead MoreThe Debate Over Embryonic Stem Cell Research1652 Words   |  7 PagesEmbryonic stem cell research could one day hold the key to many new scientific discoveries if it is continuously funded in the years to come. I chose to base my research around the question, Should embryo nic stem cell research be government funded? When I finish highschool I hope to pursue a career in the medical field. Although I wish to become a doctor and may not be directly researching stem cells, they may one day be a treatment that I will have to administer to patients. To answer this questionRead MoreThe Debate Over Embryonic Stem Cell Research1543 Words   |  7 PagesWhile embryonic stem cell research has been ongoing for more than 30 years, it has only become a controversial topic over the past decade. The embryonic stem cell was first isolated in 1981 by two scientists at the University of Cambridge. However, it wasn’t until 1998 at the University of Wisconsin, Madison, where the first batch of embryonic stem cells were created in a test tube. In 2001, President George W. Bush approved the use of federal funding for research on this topic, following this action

Policies For Breaking The Cycle Of Poverty - 1114 Words

In this unit we looked at different policies for breaking the cycle of poverty and lifting people out of it. This cycle is isn’t impossible to break but it can seem like it to the people inside. Growing up in poverty raises the chance for a child to stay under the poverty line when they group. While there are obviously policies to help break the cycle, this is obviously still a big enough problem to millions of Americans. The inability to break this cycle creates a large barrier to people in poverty to escape. Nobody really wants poverty to continue, but at some level there needs to be separate economic classes in our society. The problem with the system now is that people don’t really have equal opportunity to move between these classes. The rich tend to stay rich and the poor tend to stay poor. This combined with the increasing gap between the poor and rich is making escaping the cycle of poverty even harder. This lack of mobility is what creates the inequality of opp ortunity. So if no one wants poverty to exist, why is there not a stronger push to end it or improve the conditions? The readings made clear that the problem isn t in the effort, the problem is in THE approach taken. Currently, our collective belief about welfare is that it is only to be given to those who â€Å"deserve† it. This is the approach taken by the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. This created stipulations requiring recipients to be employed in order toShow MoreRelatedAn Imbalance Between Rich And Poor Is The Oldest And Most Fatal Ailment Of All Republics1524 Words   |  7 Pageschildren growing up in poverty. Children that live in poverty are more likely to be absent from school and have a higher dropout rate than those who come from families with higher incomes. Children that live beneath the poverty line are more likely to have learning disabilities, developmental delays, and behavioral problems. These are just a few dis advantages of the hundreds that children living in poverty deal with on a day to day basis. There are ways to help these children in poverty, that is the extensionRead MoreThe Culture Of Poverty : Inaccessibility Of Healthcare993 Words   |  4 PagesThe Culture of Poverty: Inaccessibility of Healthcare in Underprivileged Populations Introduction The lack of access to basic healthcare services in poor populations is controversial because healthcare is now being viewed as a basic right. The culture of poverty theory is cyclical because the absence of resources inhibits individuals from breaking free from this phase. This culture is seen in both urban and rural populations because of the continuous cycle of poverty. The inefficiency of the publicRead MoreRacism And Poverty : South Africa1640 Words   |  7 PagesAfrica has faced significant issues with racism and poverty. From the times of colonialism, to the era of apartheid, South Africans have been segregated in discriminatory contexts that have left a large proportion of the population living in desperate conditions. This segregation by race and socioeconomic status still exists today and is extremely prevalent in modern South African society. Townships that are prone to violence and extreme poverty surround every major city in this country. Within theseRead MoreWelfare P olicy845 Words   |  4 Pagesin Chicago, Illinois are living in deep poverty (Emmanuel, 2015). Despite its high poverty rates, welfare in Chicago has always been small by any measure. At its peak in the 1990s, only 5 million families received assistance, averaging less than $400 a family (Piven, 2002). Frances Fox Piven believes that â€Å"changes in welfare were related to shifts that were occurring in a range of American social policies† (Piven, 2002). In July 1996, current welfare policies were replaced with Temporary AssistanceRead MorePoverty Is A Social Problem957 Words   |  4 PagesStates is the wealthiest nation in the world, but yet poverty remains prevalent. Childhood poverty affects every aspect of their life. â€Å"Poverty is not having income for basic needs, food, medical care or basic needs and housing† (Crosson-Tower, 2014, p. 59). Poverty is affecting thousands of Americans every day, and it isn t sparing anyone of a particular race, age or gende r, leaving people on welfare, and without homes, or transportation. Poverty is a crisis that deserves attention from everyone,Read MoreNotes On The And Vicious Circle1206 Words   |  5 Pagesresults, a vicious circle has negative results.) For a virtuous circle, Great Britain was an important example. The rule of law became possible after the Glorious Revolution. It was a cycle that Rule of law support pluralistic political institution, in return pluralistic political institutions support pluralism. It is this cycle that supported the economic institutions during the early eighteen centuries where the rule of law made the investment possible. When investors find a place that they can securelyRead MoreThis week’s readings investigate the rise of Islamic opposition and civic society groups in Egypt,1000 Words   |  4 Pagesby Israel (Wickham, 32). The graduate-appointment policy initiated by Nasser, which guaranteed a job in the public service for each university graduate, and was maintained under the successive regimes, failed to fulfill its commitments, due to the influx of graduates seeking employment beyond the state’s capacity (Wickham, 42). Mubarak’s regime first continued this policy (Wickham, 42), but later decided to reduce the benefits of this policy, and as a result became unable to co-opt the educatedRead MoreGender Roles And Gender Inequality1576 Words   |  7 Pagesand political representation of women in the region (Bentley, 2004). Within South Africa there is a significant gap in the lack of opportunity and representation of women within the economic and political sphere, which directly correlates to their poverty. Often times the universal equality and importance of all members of society is not often respected, this is evident in the histories and devastations of apartheid in South Africa, but also in the unequal division of men and women in the region. IfRead MoreSociology : The Social Problem Of Poverty1251 Words   |  6 Pagessociological imagination to examine the social problem of poverty by looking at the social forces that are relevant to the problem. Poverty is a social problem rather than an individual problem because it is a deeply embedded social issue that permeates every aspect of culture and society. It involves sustained low levels of income for people in a community, and includes a lack of important resources like education and health care. Poverty is a large cause of social tension and div ide in America becauseRead MorePoverty, Equity, Human Rights, And Health1390 Words   |  6 Pagesestablished cycle of poverty, equity, human rights, and health with an overview of the links between them; the history of past global efforts; and five recommendations to the health sector to focus its resources to gain maximum impact. Their paper stands on the shoulders of well-established research and theory. It is well established that there is a link between poverty and poor health, including decreased morbidity and mortality (Irwin Scali, 2007; Wagstaff, 2002). Likewise, that the cycle of the determinants

Australian Economy and Their GDP - MyAssignmenthelp.com

Question: Compare Australia with any other economy and discuss their GDP last 3 to 5 years and factors affecting their GDP. Answer: Introduction The main aim of essay is to compare the Australia with other developing countries and discuss their GDP in last 3 to 5 years. The author also discusses the factors affecting their GDP or Gross Domestic Product. The economy of Australia is one of the largest mixed market economies in the world. The Australian economy is mostly dominated by service sector that comprises sixty eight percent of total gross domestic product. The economic growth of the country largely depends on the mining and the agricultural sector. The country is under progressive growth without even facing a single recession in the past twenty five years. The country is abundant in its natural resources and the entrepreneurial skill is also very efficient. As per the World Bank data the economic growth is at 3.0 %. The inflation rate is at 1.3 percent and the unemployment rate is at 5.7 percent. The total wealth of Australia accounts for 6.4 trillion Australian dollar. In 2012 Australia was the twelfth largest national economy in terms of nominal GDP. It is 19th largest exporter and 19th largest importer in world. The Reserve Bank of Australia is responsible for publishing the quarterly report of the economy of Australia (Austrade.gov.au. 2016). GDP is the gross domestic product of the economy that measures the total amount of goods and services produced by the economy at a given time. There are many components that affect the production and consumption of the economy. Gross Domestic Product is the quantitative measure of the nations total economic activity. GDP represents the monetary value of the goods and service produced within a nation over a period of time. It is measured quarterly or yearly. It is the measure of all the final goods and services produced in an economy. GDP growth measures the economic performance of the economy (Borio 2014). Body The author compares Australias GDP growth rate with developing country India to show the differences in the efficiency of the country. The author compares the economic performance of Australia and India. GDP is the sum of the gross value added by all the residents or the producers in an economy. Australia: Table1: Annual GDP growth rate of Australia. Year GDP growth rate in percentage. 2005 3.2 % 2006 3.0 % 2007 3.8 % 2008 3.7 % 2009 1.8 % 2010 2.0 % 2011 2.4 % 2012 3.6 % 2013 2.4 % 2014 2.5 % 2015 2.2 % 2016 3.0 % The above trend shows that the GDP growth rate in Australia is fluctuating in nature. It is highest in the year 2007 and lowest in 2009. The GDP growth rate increased in the year 2016 that shows that the economic performance of the country is increasing. India: Table2: Annual GDP growth rate of India. Year GDP growth rate in percentage. 2005 9.3 % 2006 9.3 % 2007 9.8 % 2008 3.9 % 2009 8.5 % 2010 10.3 % 2011 6.6 % 2012 5.1 % 2013 6.9 % 2014 7.3 % 2015 7.5 % 2016 - The above trend shows that the GDP growth rate India is also fluctuating. It was highest in the year 2010 and lowest in 2008. Currently the GDP growth rate is rising showing that the country is improving. Comparison of Australian and Indian economy in terms of GDP growth rate: YEAR AUSTRALIA GDP GROWTH RATE (%) INDIA GDP GRWTH RATE (%) 2005 3.2 % 9.3 % 2006 3.0 % 9.3 % 2007 3.8 % 9.8 % 2008 3.7 % 3.9 % 2009 1.8 % 8.5 % 2010 2.0 % 10.3 % 2011 2.4 % 6.6 % 2012 3.6 % 5.1 % 2013 2.4 % 6.9 % 2014 2.5 % 7.3 % 2015 2.2 % 7.5 % 2016 3.0 % The above comparison shows the GDP growth rate of India is higher than that of Australia. It means that the economic performance of India is better than Australia in terms of GDP growth rate. The monetary values of the products produced in India are higher than that in Australia. In terms of GDP growth rate India is ranked in 11th position and Australia is in 13Th position. The GDP is calculated without making any deductions of depreciation. It includes the taxes and rules out subsidies. The Australian economy is expected to grow at the rate of 2.9 percent between 2016 and 2020 in terms of annual GDP growth rate. Australia is the worlds 12th largest economies in the world and has 3.3 percent average GDP growth rate per annum in the year 1992 to 2015. The GDP growth rate in India is greater than that it was expected by the government (Scutt 2016). Gross Domestic Product: Gross domestic product or GDP is the monetary values of all the final goods and services that are produced in an economy over given time period. GDP includes private consumption, public consumption, investment by business houses and imports and exports. GDP can be calculated as follows: GDP = C + G + I + NX Here, C represents the private consumption, G represents the government expenditure, I represent the countrys investment and NX represents the net exports of the country that is exports minus the imports. GDP is used to compare the productivity of different countries. There are two types of GDP basically. One is nominal GDP that does not include the inflation rate and the other is the real GDP growth rate that is the rate after it has been corrected for inflation. The best way to measure the growth of the economy and the standard of living is to take into account the real GDP growth rate that shows the purchasing power of the individuals in an economy (Mankiw 2014) The output gap is the difference between the actual GDP and potential GDP and is calculated as Y-Y* where Y is the actual output and Y* is the potential output. If the calculation shows a positive number then it means that the aggregate demand is higher than the aggregate supply that indicates rise in inflation. The percentage of GDP can be measured as actual GDP minus potential GDP divided by potential GDP. A positive out gap indicates high demand and a negative output gap indicates low demand. Demand and supply indicates the level of price and the real GDP. Aggregate supply indicates the relationship between quantity supplied and the price level and the aggregate demand indicates relationship between demand of goods of real GDP and the price. As the price level rise the supply of GDP rises and the demand of output falls (Konchitchki and Patatoukas 2014). Figure: Output gap explained through demand and supply In the above diagram SAS is the short run aggregate supply, LAS is long run aggregate supply, AD is the aggregate demand and E is the equilibrium level. Y indicates the actual output and Y*is the potential GDP. Price level is measured in Y axis and real GDP in X axis. The gap between Y and Y* shows the potential gap. The country will be at equilibrium level when the aggregate demand is equal to aggregate supply in short run. Here the price level will also be at equilibrium. In short run the economy can produce that amount only for which it has demand. But in long run since the firms now have competitive advantage and economies of scale it can produce more than its potential. The output gap arises because the aggregate demand is low while the supply is high (Goodwin et al. 2013). When the aggregate demand in the economy rises then the demand curve shifts to its right. The price level rise and so does the real GDP because the short run supply curve remains unchanged. The wage rate now increases due to rise in the price level. The short run aggregate supply curve shifts to its left that increase the price level but the real GDP falls. In long run the potential gap arises because the long run aggregate supply is fixed and is vertical. The long run aggregate supply curve indicates a full employment level. Here the country is assumed to be unemployment free because the producers utilize all the countries resources to produce the goods. The long run equilibrium will be achieved at a level where short run aggregate supply, aggregate demand and long run aggregate supply curve intersect at one common price level. Here the country operates at equilibrium price level and equilibrium output. The economy is said to achieve full employment as explained in the diagram below (Gandolfo 2013). Figure: Full employment level or sustainable GDP level Stagflation is the condition when the price level rises but the output or the real GDP falls. In such a situation the countries growth is stagnant but the price level is rising. This arises due to fall in the short run aggregate supply and rise in the aggregate demand. The GDP of the country increases with the increase in labor force, capital and improvement in technology. The output gap plays a significant role in policy making and affects the decision of the government (Fraser et al. 2014). Gross domestic product of a country indicates the standard of living of the country. The analysis conducted and data above shoes that the standard of living of people in India is higher than that in Australia. The mode of measuring GDP is common in all the countries so it makes it easy for the comparison of productivity. GDP is used to measure the value added for various goods and services. GDP is expressed in comparison to the previous year. There are three ways or methods to measure GDP. These are income approach, production approach and expenditure approach (Egerer et al. 2016). The production approach estimates the gross value of output added after deducting the value of the intermediate consumption. This is known as the sum of the GDP at factor cost. The second approach to measure GDP is income approach. It is also known as Gross domestic income approach. This method is calculated by taking into account the income that the firms pay to households in form of wages, interest for capital, rent for land and the profits of the entrepreneurs. The GDP is measured after deducting the depreciation cost and indirect taxes. The third approach to calculate GDP is the expenditure approach where the GDP is measured in terms of purchase price of all goods and services except the intermediate goods (Mankiw 2014). There are four components of GDP that are as follows: Personal consumption expenditure- this is the largest component of GDP and greatly affects the countrys output. The example of such spending is expenditure on durable goods by consumers, food, jewelry, or daily basis for consumption. When the personal consumption of the country rise the demand for the goods also increase that shifts the demand curve to its right. The real GDP of the country also rises and so does the price level. It can be shown in the following diagram that how the rise in the consumption increase the demand and the GDP (Goodwin et al. 2013). Investment- Investment is another component of GDP. Examples of investment are buying of new machines used for the production purpose, purchase of software and other products that yield profit. When the investment in an economy rise then the production in an economy also rises that is the money supply increases in the economy. So the output also increases that in turn increases the GDP of the country as shown in the above diagram (Goodwin et al. 2013). Government expenditure- expenses that the government makes on the economy for it development also affects the GDP of the economy. Examples of government expenditure are salary paid to government servants, goods purchased for infrastructure development and military expenses. It does not include transfer payment such as social security and unemployment benefits. Increase in government expenditure increases the real GDP of the economy as the aggregate demand now raises that leads to high production (Goodwin et al. 2013). Net exports- Net exports that are measured as the export minus the import are another component of GDP. When the export of the country rises more goods are produced in an economy. This leads the real GDP of the country to rise. Imports are not included in real GDP because it is already included in the consumption, investment and government expenditure component (Goodwin et al. 2013). The four components of GDP greatly affect the GDP and this in turn affects the growth of the economy. Changes in the components of GDP can be explained by using the demand curve as shown below. Figure: Components of GDP and its affect on real GDP using demand. Factors affecting GDP in Australia There are many factors that affected the GDP growth in Australia. First was the fall in prices of commodities and rise in net exports. In the past ten years the terms of trade in Australia is increasing. The demand for the Australian good in china is increasing that is leading to the rise in the exports of Australias products. The commodity prices of the goods are rising. This leads to the boom in investment which ultimately leads the real GDP to rise. The nominal GDP growth per capita is weak in Australia though the overall GDP growth is rising. The export prices are falling. The export boom is increasing the real GDP of the country (Glynn 2016). Export boom also gives way to investment boom. New industries are starting up leading to increase in demand that is ultimately increasing the GDP growth of the country. The service sector in Australia is the biggest contributor to the GDP growth rate. Mining plays a great role in Australian economy. The export in recent quarter is falling d ue to rise in the export prices. Despite of the fall in the exports the mining has been the biggest contributor to the GDP growth in Australia. The investment in housing is increasing that is leading the GDP to rise. Private investment in Australia increased. The productivity and efficiency of the workers also contribute to the rise in GDP. If the workers are very efficient then the productivity of the firm rises that leads the production to also rise (Scutt 2016).The stock of inventories is rising in Australia that means that the production is rising but the demand is less. The rise in inventories suggests that the producers forecast that they will be able to sell the goods produced in the coming future. Basically there are two factors that affect the GDP growth. These are the demand and the supply factors. The final consumption expenditure in Australia is increasing when compared to previous year. This indicates that GDP growth is also rising. The government spending is also risin g that is leading the Real GDP to also rise. Hence there are many factors that affect the real GDP of the country. GDP shows how well the economy is performing (ABC News. 2016). Factors influencing the GDP growth in India Population growth greatly affects the growth of GDP in India. Human resource and the productivity also affect the GDP growth in the country. If the employees skills and knowledge fall then the GDP of the country also falls and vice versa. In India there is mixed group of people both knowledgeable and illiterate. This greatly affects the GDP as the producers are unable to find the right people for the right job. Physical capital is the machines and the assets that are used to produce more of goods and services. Fall in the investment also leads to fall in Real GDP. Entrepreneurship, human resources and literacy rate also greatly affects and influences the GDP growth of the country. The personal household consumption is stable in India that makes the real GDP growth of the country also stable (Radhakrishna and Panda 2012). The government spending is falling that leads to fall in the GDP growth rate in the country. The export of India in April was the minimum that lead to fall in the GD P in recent times. The Chinese investment in India increased by six times that largely influenced the GDP growth rate in the country. In real terms the growth in the economy grew. The economy of India is growing with many new start ups developing that require large investments. Many factors affect the economic growth of the country and also its GDP (Mishra 2016). Conclusion GDP or the gross domestic product of the country is an essential measure to evaluate the monetary values of all the final goods and services produced in an economy. There are many components that affect the GDP growth of the country. There are many approaches to evaluate the GDP growth of the economy. The GDP growth rate of India is better than that of Australia and it is fluctuating in nature. The major sector that contributes to GDP is the service sector and the mining sector. The GDP growth rate is expected to rise in future in Australia because the government expenditure and the personal household expenditure are continually rising. The export of iron ore is also rising in the country that greatly contributes to the GDP growth rate of the country. The annual growth of the country is rising at 3 percent. The economic performance Australian territory is rising. The demand and the supply greatly affect the GDP growth of the country. The experts advise that the country will grow if t he demand and supply of goods rise at the same rate. The government and the consumers greatly influence the economic activity of a country. References ABC News. (2016).Economic growth jumps but national income falls. Abs.gov.au. (2016).5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2015. Austrade.gov.au. (2016).Growth - Why Australia - For international investors - Austrade. Balassa, B., 2013.The Theory of Economic Integration (Routledge Revivals). Routledge. Borio, C., 2014. The financial cycle and macroeconomics: What have we learnt?.Journal of Banking Finance,45, pp.182-198. Coale, A.J. and Hoover, E.M., 2015.Population growth and economic development. Princeton University Press. Databank.worldbank.org. (2016).World Development Indicators| World DataBank. Egerer, M., Langmantel, E. and Zimmer, M., 2016. Gross Domestic Product. InRegional Assessment of Global Change Impacts(pp. 147-152). Springer International Publishing. Fraser, P., Macdonald, G.A. and Mullineux, A.W., 2014. Regional monetary policy: An Australian perspective.Regional Studies,48(8), pp.1419-1433. Gandolfo, G., 2013.International Economics II: International Monetary Theory and Open-Economy Macroeconomics. Springer Science Business Media. Glynn, J. (2016).Australian Recession Fears Ease as Growth Accelerates. Goodwin, N., Nelson, J., Harris, J., Torras, M. and Roach, B., 2013.Macroeconomics in context. ME Sharpe. Konchitchki, Y. and Patatoukas, P.N., 2014. Accounting earnings and gross domestic product.Journal of Accounting and Economics,57(1), pp.76-88. Liu, B. and Di Iorio, A., 2016. Does idiosyncratic volatility predict future growth of the Australian economy?.Studies in Economics and Finance,33(1), pp.69-90. Madsen, M.O. and Olesen, F. eds., 2016.Macroeconomics After the Financial Crisis: A Post-Keynesian Perspective.

Demand For Chocolate Creates Shortage

Question : (1)Assume that chocolate operate in a perfectly competitive market, use a well-labelled demand and supply (D-S) model to explain how market equilibrium price of chocolate is being determined. Please clearly explain the equilibrating process. (2)Using the D-S model, explain and illustrate what factors have caused the market price for chocolate to rise in the past two years. Clearly explain the equilibrating process. (3)What will happen to the market for other confectionaries/sweets as a result of the changes in the market price of chocolate? Make sure to use D-S model to discuss the equilibrating process. (4)Do you think the demand for chocolate is price elastic or price inelastic? Explain your answer based on the determinants of price elasticity of demand. Use your answer to discuss the likely impact of the drought on consumers total expenditure on chocolate. Answer : (1) Under Perfect Competition no single firm or single consumer can influence the price of the chocolate because of its negligible share in total supply or total demand of industry. However, price is determined by the collective action of all firms in the industry through the supply curve of the industry and the collective action of all the consumers through the industrys demand curve. Thus, short-run equilibrium price and quantity is determined by the interaction of market demand and market supply(Hall", 2014) The demand curve DD represents the aggregate demand of the industry for chocolate, and the supply curve SS represents the total supply of chocolate of the industry(WEXLER, 2014)Industry is in equilibrium at E where the total market demand for chocolate is equal to total market supply for chocolate. The equilibrium price is OP and equilibrium quantity is OQ. If price is above OP, say OP1, there is excess supply of chocolate which pulls down the price again to OP. On the other hand, if price is below OP, say OP2, there is excess demand for chocolate. As a result price would rise till it reaches the level of OP. At equilibrium E, there is neither excess supply nor excess demand and, therefore, the price has neither a tendency to fall nor a tendency to rise.(SULLIVAN, 2014) (2)The factors that contribute in the growth of the market price of the chocolate in last two years are as follows: -Increase in demand for the chocolate: the demand for the chocolate is much more in comparison to supply of the chocolate in the market which causes an upward push in the market price of the chocolate.(Wood, 2014) -Consumer taste and preferences: The level of market price for chocolate is also influenced by customer taste and preferences. Taste and preferences depends on social customs, habit of people, etc. Some of these factors like fashion keep on changing, leading to change in consumer taste and preferences. A favorable change in taste and preference of the consumer for chocolate increases its demand in the market, which ultimately leads to an increase in the price if the chocolate.(GASPARRO, 2012) -Decrease in supply: There is an upward trend in the price of the chocolate because of shortage in supply of the chocolate to meet its demand in the market. When the supply of the product is more than its demand, price decreases, whereas where the supply of the product is less than its demand, price increases.(Wells, 2013) One of the major cause for the increase in the price for chocolate is the increase in its demand in the market. The effect of change in demand is explained below: If supply remains constant, shift of demand curves i.e. change in the demand will result in the change in equilibrium price and equilibrium quantity. The effect of shift in demand curve on the equilibrium price can be illustrated with the help of a diagram In the diagram 1.2, D0D0 and SS are the initial demand and supply curves respectively. E0 is the equilibrium corresponding to the point of intersection of demand and supply curves. OP0 is the initial equilibrium price and OQ0 is the initial equilibrium quantity. Now, as a result of increase in demand, the demand curve shifts to the right from D0D0 to D1D1. At the original price OP0, quantity demanded now will be OQ3, but the quantity supplied will remain at OQ0. In other words, this will lead to excess demand to the extent of Q0Q3. This would exert an upward pressure on the prices as explained above. The price would continue to rise till it reaches OP1 where demand and supply will be equal to each other once again. Intersection of D1D1 with SS will give us the new equilibrium at E1, and OP1 and OQ1 will be the new equilibrium price and equilibrium quantity respectively. Thus, an increase in demand for a commodity i.e. a rightward shift in demand curve, causes an increase in both equi librium price and equilibrium quantity bought and sold. (3)The market for other confectionaries/sweets as a result of the changes in the market price of chocolates depends on the movement in the market price for the chocolate i.e. whether it is in upward direction or downward direction.(Morris, 2014) If the price of chocolate increases then the market for those sweets and confectionaries whose prices are lower in comparison to the price of chocolate and that can be substituted in place of chocolate increases, whereas the market for those sweets and confectionaries which are used as a complementary good with chocolate decreases.(Shah, 2003) The response of the market of other sweets/confectionaries depend on two situation: (a) Equilibrium Price of chocolate increases- When the relative increase in demand for chocolate is greater than its supply, the equilibrium price rises. From Fig. 1.3, it is clear that demand increases in larger proportion than the supply. Equilibrium is at E1 corresponding to the intersection of D1D1 with S1S1. Hence, price increases to OP1 and quantity to OQ1. Hence, when demand of chocolate increases more than its supply, price for the chocolate will rise which may indirectly lead to an increase in the market for those sweets/ confectionaries that can be used as a substitute in place of chocolate.(Hameed, 2009) (b) Equilibrium Price of chocolate decreases-When the relative increase in demand is smaller than the increase in supply, the equilibrium price falls. In fig. 1.4, supply for chocolate increases in a larger proportion than its demand. Equilibrium shifts from E to E1. Consequently, equilibrium price falls from OP to OP1, but equilibrium quantity increases from OQ to OQ1. Thus, when supply increases more than demand, the price for chocolate falls which causes an increase in its demand and indirectly reduces the market for other confectionaries/sweets which are used as a substitute in place of chocolate and increases the market for those sweets/confectionaries which are used as a complementary good with the chocolate. The demand for chocolate in the market is price elastic. A fall in the price for chocolate increases its demand in the market and vice-versa. The determinants for price elasticity of demand are as follows: 1. Availability of substitutes- The most important determinant of the price elasticity of demand is the number and kind of substitutes available for a commodity(Kazemi, 2010). If commodity i.e. chocolate has many close substitutes then its demand is likely to be more elastic. Even a small fall in price will induce more people to buy the chocolate rather than its substitutes. 2. Nature of the commodity-Demand for luxury items or victim that serves the comfort pleasure of the consumer tend to be more elastic than the demand for those goods which serve the basic needs of the consumer. And chocolate serves the comfort pleasure of the consumer.(DATAMONITOR, 2006) 3. The number of uses of a commodity- The greater the number of uses to which a commodity can be put to, the greater will be its price elasticity of demand and vice-versa. Chocolate can be used by the consumer as a main product or co-product in multiple uses.(Pearson, 2014) 4. Price Range- Price elasticity of demand depends upon the range of prices. Demand for a commodity tends to be inelastic at a very high price of the commodity and even it is inelastic at a very low price of the commodity, but is elastic within the moderate range in the price of the commodity. The prices of chocolates are neither too high nor too low thus the demand for chocolate is elastic.(Andreyeva, 2012) In the situation of drought, consumer behaves in an abnormal manner, they buy the commodity even at a very high price. Thus, in case of drought, even at a very high price of the chocolate consumers are ready to purchase them, thus causing an increase in the total expenditure of the consumer. The below given table shows how the total expenditure increases with the increase in the price of chocolate in the situation of drought.(Schatzker, 2014) Price of the chocolate (P) Quantity demanded (Q) in pieces Total Expenditure (P*Q) 50 10 500 70 15 1050 References: Andreyeva, T. (2012). The Impact of Food Prices on Consumption. PMC , 1-3. DATAMONITOR. (2006). CONFECTIONERY: Chinas Sweet Tooth Grows. Asia Food Journal , 1. GASPARRO, A. (2012). People Love Chocolate At Any Price. Money Beat , 1. Hall", ". (2014). demand for chocolate in perefectly competitive market. Business studies , 685. Hameed, A. A. (2009). Supply and Demand Model for the. MPRA , 1-20. Kazemi, F. (2010). A Case Study of Chocolate Industry . International Journal of Business and Management , 1-5. Morris, J. A. (2014). The trend that could transform the chocolate industry. KPMG , 1-20. Pearson. (2014). price elasticity of demand. the sloman economics , 1. Schatzker, M. (2014). Chocolate imperiled by drought, disease as demand rises. The State journal , 1. Shah, A. (2003). change in the equilibrium price. Global Issue , 1. SULLIVAN, K. (2014). Dark chocolate demand causes cocoa shortage. The Exponent , 1. Wells, E. E. (2013). Shortage of cocoa beans may lead to price increase. The Journal , 1. WEXLER, A. (2014). demand for chocolate. Wall street Journal , 1. Wood, P. (2014). Inflation, cocoa bean shortage spur rise in chocolate prices. Auburn , 1.

Mythology Zeus and Achilles free essay sample

However, despite all their strength and authority, neither Zeus nor Achilles appears capable of eschewing or defying the omnipresent power that holds more sway than them: fate. Sans doubt, once a human is dealt his hand, there is nothing that he can humanly do in order to prevent his fate. As for the gods, with all their power and independence, they are still undeniably bound by the hands of fate. Fate is a peculiar phenomenon in that it has no limitations, yet it is a fixed occurrence that does not change over time or through the progression of different events that may influence it. Powerful men and gods such as Achilles and Zeus may do as their hearts and minds desire, because there is no one who can stop or defy them. Thus, the role of fate becomes clear, since fate is without desire or mind; its existence is to curb the ridiculous and emotional wishes of powerful beings who cannot be stopped otherwise. We will write a custom essay sample on Mythology: Zeus and Achilles or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Fundamentally, there is no god or man stronger or more powerful than Zeus; he is capable of doing whatever he wants, whenever he pleases. Given this omnipotent ability, all his desires should become immediate manifestations, yet this would only lead to chaos due to the lack of limitations on freedom. There are multiple times during the events of The Iliad that begin with Zeus seriously contemplating using his unlimited power to fulfill his desires yet ultimately ends in his freedom being restricted by fate. In one scene, Patroclus in a blaze of raw magnificence and strength is battling Sarpedon, the son of Zeus. It becomes apparent that the mightier and glory-driven Patroclus will overpower and kill Sarpedon. Zeus is obviously most distressed and sorrowfully states, â€Å"My cruel fate†¦my Sarpedon, the man I love the most, my own son-doomed to die at the hands of Meoetius’ son Patroclus. My heart is torn in two as I try to weigh all this. Shall I pluck him up, now, while he’s still alive and set him down in the rich green land of Lycia, far from the war at Troy and all its tears? † (Iliad 16. 514-520) It is apparent than Zeus could have easily saved Sarpedon in numerous ways, yet he cannot defy the fate of the doomed Sarpedon. In another scene, almost identical to the first, Zeus laments the ill-fate of Hector as he is chased by the vengeful Achilles: â€Å"Unbearable-a man I love, hunted round his own city walls and right before my eyes. My heart grieves for Hector†¦Come, you immortals, think this through. Decide. Either we pluck the man from death and save his life or strike him down at last, here at Achilles’ hands-for all his fighting heart† (Iliad 22. 201-209). Once again, Zeus begins with the desire to save Hector from the enraged Achilles, but he is reminded by Athena of the hand of fate that has been drawn for Hector. In order to remind Zeus of Hector’s fate, Athena protests, â€Å"Father! Lord of the lightning, king of the black cloud, what are you saying? A man, a mere mortal, his doom sealed long ago? † (Iliad 22. 211-214) Upon hearing her objections, Zeus halts his urge to save Hector and realizes that he cannot challenge fate, unless he wants to create total chaos among the gods of Olympus. On the human side, there is the swift runner Achilles who is revered as the greatest warrior amongst the Achaeans. In battle, he is fearless and unmatched; his presence alone sways the very tide of the war. Granted that he is a match for any Trojan soldier and could simply win the war for the Achaeans, his freedom is still restricted by his destiny. When the Achaeans are being routed time and time again by the Trojans, Agamemnon sends an embassy of his finest men in order to persuade Achilles to rejoin the Achaeans in fighting the Trojans. Achilles adamantly refuses the offer and reveals his fate to the embassy: â€Å"Mother tells me, the immortal goddess Thetis with her glistening feet, that two fates bear me on the day of death. If I hold out here and I lay siege to Troy, my journey home is gone, but my glory never dies. If I voyage back to the fatherland I love, my pride, my glory dies†¦true, but the life that’s left me will be long, the stroke of death will not come on me quickly† (Iliad 9. 498-505). Undoubtedly, the prophecy that Achilles receives from his mother weighs heavily upon him. Although he is given the unique opportunity in choosing his fortune, neither option is wholly desirable or undesirable. Consequently, for a large portion f The Iliad, his fickleness with his fates cripples him and renders him paralyzed from being the mighty, unconstrained warrior that he is known and meant to be. Moreover, when the death of his beloved friend Patroclus rouses Achilles to arms, he is deterred by fate from carrying out his impulse to sack the city of Troy. Zeus plots with the other gods to prevent the enraged Achilles from annihilating Troy and rationalizes his decision by stating, â€Å" If Achilles fights the Trojans-unopposed by us-not for a moment will they hold his breakneck force. Even before now they’d shake to see him coming. Now, with his rage inflamed for his friend’s death, I fear he’ll raze the walls against the will of fate† (Iliad 20. 32-36). It is not fated for Achilles to sack the city of Troy; therefore, the gods convened to prevent him from opposing his fate. Moreover, this fate coincides with the original prophecy that his mother told him: if he stayed in Troy and fought, he would gain eternal glory but would die in the battlefields of Troy. In my own opinion, I believe Homer wisely uses the device of fate as a regulator of the limitless power of Zeus and Achilles. Without fate to check their sometimes emotional desires or impulses, the epic of The Iliad would be a ridiculous story that tells of nothing more than the infinite power of two men who do whatever they please and cause chaos in the trail of their emotional whims. Luckily, there is the aspect of fate which adds a sense of organization to the plot. The fact that the two powerful men are constrained by fate does not make them any less powerful, but rather, exemplifies their determination to carry out their desires despite the fate they have been handed. -Paper by LucSilverz

Easy Essay Topics For Middle School Students

Easy Essay Topics For Middle School StudentsEasy essay topics for middle school students include subjects such as history, literature, religion, philosophy, government, and mathematics. These are just a few of the different subjects that you can address in your essays. However, if you are looking for more choices, there are other topics that you may choose to use, such as poetry and a lot of other topics that are not usually taken up in high school.Middle school students have a lot of things that they are interested in, and you can take advantage of that by providing them with topics that are more interesting than what most other students will be covering in their coursework. They are looking for something to get excited about, and you can provide that in your essay. By including easy essay topics for middle school students, you can provide them with topics that they will find exciting.There are a number of different ways that you can use easy essay topics for middle school students. One of those ways is to give them something that is of interest to them, and to include a topic that will show some personalization to it. For example, if you chose a topic like history, you can include several of the major figures of the era, or you can include aspects of the period such as special events that are important to the people of that time period.You can also take advantage of topics that are more personal, by giving them topics that relate to their own life. This can include things like family and relationships. It can also include the way that they see their own future. By helping them to look at these issues, you can help them learn more about how to analyze and reason.The types of subjects that you can use to create easy essay topics for middle school students include ones that are in today's culture. You can choose topics that are familiar to them and will be interesting to them. This can include different types of music or stories about celebrities. You can also u se pop culture to create topics for them to discuss in their essays.When you use topics that are in today's culture, you will find that there are many more students that will be interested in writing essays based on these topics. As a result, you will have more students working on the essay that you have created, which means you will have a higher grade. This is due to the fact that students will take notice of the unique and interesting themes that you have created for them.It is also important that you give easy essay topics for middle school students that you choose, because you want them to have something to talk about in their essays. This is why you should select topics that are something that they enjoy. This will help them to have something to talk about in their essays, as well as make them think about the topic for quite some time.Easy essay topics for middle school students can be used for any type of topic that you want to choose. If you are a history teacher, you can ch oose to discuss aspects of the Civil War, or you can choose topics that are more commonly used in this age group. These are the types of topics that you can choose to cover in your essays.

England and Ireland essays

England and Ireland essays To understand this current situation, we will have to go back in history. There are three critical dates which lead to the situation today. Those dates are: 1170, 1609, and 1969. In the next paragraphs I will briefly explain what was going on in each of these years. To begin with, in 1170, Henry II ruled England. He attempted to attach Ireland to his kingdom. However, he only established control in a small area near Dublin known as the Pale. In that particular area, English citizens started moving in and adapting the English language, religion, practices, beliefs, and etc. Attempts were made to conquer the rest of Ireland, but major English expansion did not take place until the seventeenth century. In 1609, Queen Elizabeths army had established the English rule over most of the island of Ireland, with the exception of the Northern Province: Ulster. The Ulster clans (Lead by Hugh ONeil) had a very affective alliance against the English army. Unfortunately, after a long and damaging campaign, it was eventually brought under English control in 1703. By then, all the Irish leaders had left Ireland for Europe, and less than 5% of Ulster was controlled by Catholics Irish. Later on, in 1969, the restlessness in Northern Ireland really started. In this year, the minority demanded better job opportunities, accommodation, and rights for voting. In reaction to this, the British government introduced a new law which prohibited religious discrimination and cancelled the law of 1922. In reaction to that, in the 1970s, the IRA (Irish Republic Army) began their terrorist reactions. The problems in Northern Ireland are practically from the difference in religion. There are two main camps, the Unionists and the Republicans. The Unionists are Protestant Christians, and the Republicans are Catholic Christians. Northern Ireland was created by the English as an attempt to stop the fighting. The idea was that as the Protestants...