How Market Systems Cope With Economic Scarcity Economics Essay

How Market Systems Cope With Economic Scarcity Economics Essay Contrast how a market system and a command economy try to cope with economic scarcity. A market system is also known as the free market economy or laissez-faire economy. In market system, household owns the resources and allocate them in the course of the workings of price mechanism. If there is an increase in demand, the price of a good will rises and it will encourages firms to switch extra resources of that certain manufacture of the good or service. Households depend on their income to determine the amount of products they consume and market value of an individuals work will decide households income. There is a limited role for the government in a free market system. This is because government tries to protect the property rights of people and business via the legal system. Besides, the value of currency can be protected with intervene of government. The result is competition and widely dispersed economic power. While in the command system, government owns most property resources. The government also gets to make the economic decision through a central economic plan. The central economic planning board determines production goals for each enterprise and specifics the amount of resources to be allocated. The income and wealth distribution is decided by the government too. In this system, market price plays no part in informing property allocation decisions. For each stock in the stock market, the number of shares sold daily equals the number of shares purchased. That is, the quantity of each firms shares demanded equals the quantity supplied. So, if this equality always occurs, why do the prices of stock shares ever change? The prices of stock shares always change is because there is supply and demand like everything else. The additional buyers there are for the stock, the higher the price as the supply of stock shares is for all time fixed. On the other hand, then stock prices will go down when there are more sellers. Both prospective buyers and sellers each of them willing to buy or sell a number of shares base on the stock price in any given stock trading session. If the quantity of shares demanded exceeds the quantity of shares supplied at the current price, the buyers must raise their price offers to encourage sellers to offer enough shares. This situation will cause the price of shares to rise until the quantity demanded equals the quantity supplied. The situation is called the market equilibrium. Now, if there is a report of bad economic news during the shares trading session, the sellers may try to sell out more shares than buyers demanded at the current price. In order to make a quick sale and to find more buyers, the sellers now will lower the selling price of the shares. There will be multiple equilibrium prices going on any trading day, but most of them do not last more than a couple of minutes. In general, demand and supply will affect the change of shares prices. Price Quantity SS DD P0 Q0 In November 1998, Vincent van Goghs self-portrait sold at auction for $71.5 million. Illustrate this sale in a demand and supply diagram and determine the elasticity of supply of this portrait. D1 D0 Price P1 P0 SS Q0 Quantity This graph shows a perfectly inelastic vertical supply curve, at the quantity of 1 unit. The downward sloping demand curve intersected the supply curve is used to determine the price of the portrait which is $71.5 million. When the price increases from P0 to P1, the demand will increases from D0 to D1 where as the quantity supplied is remain unchanged. The demand would likely deceases extremely if there is more than one picture presented. For years a debate has raged between those who favor strategies for reducing the supply of illegal drugs and those who favor strategies designed to reduce demand for illegal drugs. With the aid of two graphs, comment on the situation above using the demand and supply equilibrium analysis. SS1 SS2 DD Price Quantity P1 P2 Q1 Q2 The graph above shows the relationship between demand and supply curve. When those who favors strategies for reducing the supply of illegal drugs, there would be a shift to the left in the supply curve, from SS1 to SS2. The government tries to reduce the supply of illegal drugs by providing subsidies to farmers. This will encourage formers to shift to other crops such as corn instead of crops that produce drugs. Besides, the increasing of border inspection and interdiction of illegal drugs will also affects the supply curve to shift left and upwards, so equilibrium will not achieve. This is due to the decrease in quantity supplied from Q1 to Q2; the price would increase from P1 to P2. This cause less people will buy because of the increases in price. SS P0 P1 Price Quantity Q0 Q1 DD1 DD0 The graph above shows the relationship between demand and supply curve. When those who favors strategies for reducing the demand of illegal drugs, there would be a shift to the left in the demand curve, from DD0 to DD1. The curve will shift to the left is because of government has introduce an educational campaign to explain the disadvantages to human health of illegal drugs. When the curve shift to left and downwards, the market equilibrium is no more achieved. The sales of the illegal drugs would reduce because the demand for illegal drugs has decrease from Q0 to Q1. There are calls from certain quarters proposing that legalizing illegal drugs is the best solution to combating illegal drugs problem. By legalizing illegal drugs, this will increase the amount of illegal drugs available in the market as drug sellers will no longer face prosecution. Addicts benefit too. With the aid of a graph, explain the situation above using the demand and supply equilibrium analysis. Price DD0 P P1 SS0 Quantity SS1 Q Q1 Legalizing illegal drugs will lead to the increases in quantity supply. As a result of this, the supply curve will shift to right from SS0 to SS1. When the supply curve shift to the right, the price of the illegal drugs will decreases from P to P, while the quantity supply will increases from Q to Q. Besides that, drug addicts gain advantages too not only because of the increases in supply but also the legalization of illegal drugs. Provide a counter-argument to the explanation given by the supporters of legalization. Firstly, illegal drugs should not be legalizing because it will only bring destructive effects to our health. It will cause addiction and it will slowly lead to crime. This is because the price of illegal drugs is not cheap and not many addicts can afford it. As a result of not having enough money, addicts will commit all sorts of crimes in order to get money to buy those drugs. If illegal drugs are supported to be legalizing, there would cause a massive numbers of crime rates in the country. People might use drugs to rape, steal or even start a war. Drugs only benefits the addicts as it will cause problem to the government. Government would have to import those drugs from other country and it surely causes a big sum. This will affect the governments financial and the countrys economy. Imagine you are selling a new product in the market. Explain more on the product that you are selling from these aspects: Description of the product that you are selling The product that I am selling is the new model of touch screen laptop. This touch screen laptop is slim and the weight is lighter than normal laptop. Therefore it is very to carry around. This product is aim towards young adults that are working and students that are still studying. With this product, they can carry to their work place and even to schools. Besides, this product also comes with various colors. Consumers can choose the color of the product according to each liking. This product also includes: Bluetooth Built- in GPS system Webcam Water resistant Cold resistant Support Windows 98/XP/Vista/7 6- cell Li- ion battery 4GB RAM Memory How the product is produced or acquired The product is produce in local factory which will be using the modern technology. The internal components for this product will be imported from other country such as America. On the other hand, the external part is supplied by local production. Metal is one of the main resources for this product. Metal is needed in a large amount to produce the laptop. While touch screens are imported from Japan with their high- tech LCD touch screen. The demand aspect of this product e.g. pricing strategies, the threat of competitors, factors affecting demand for this product etc. Pricing Strategies I would use the Price Skimming method which the price is charged higher because this product will have substantial competitors. The high price is to attract more new rivals into the market. Therefore, the price will fall inevitably due to the increase of supply. The price will be set to RM2500. When there are more competitors in the market, I would now change my strategy to economy pricing. Threat of Competitors This touch screen laptop biggest threat is other big company like Acer, HP and also Sony. Although the other competitors are more well recognize, but I believe that my product is better in terms of pricing and functions that are available. Besides, other companies tend to have bigger budget or capital to invest in new product. Therefore it is one biggest threat to my new touch screen laptop. Factors Affecting Demand As for the factors affecting the demand would be the consumers choices and preferences. Consumers taste will be the main factors for the demand curve because it will affect the price as well. Besides, consumers income will contribute to the changes on the demand curve of this product too. If their income increases, they would most likely be able to afford this product. As a result to it, the demand for this product will increase. Elasticity of demand of the product The demand of the product

Sudden Infant Death Syndrome (SIDS) Essay -- Crib Death SIDS

Sudden Infant Death Syndrome (SIDS) Many questions about the causes of Sudden Infant Death Syndrome (SIDS), also known as â€Å"crib death,† are still unresolved. The mysterious and elusive nature of SIDS creates problems, doubts, and more questions. This paper will present some of the most commonly asked questions as well as the answers that have been uncovered by scientists after years of research and study. In 1969, researchers agreed to define SIDS as â€Å"the sudden death of an infant or young child, which is unexpected by history, and in which a thorough postmortem examination fails to demonstrate an adequate cause of death† (Bergman, 1970). What Causes SIDS? The cause or causes of SIDS are still unknown. Most researchers now believe that babies who die of SIDS are born with one or more conditions that make them vulnerable to both internal and external stresses that occur in the normal life of an infant. Most deaths from SIDS occur by the end of the sixth month with the greatest number taking place between two and four months of age. A SIDS death occurs quickly and is often associated with sleep, with no signs of suffering. More deaths are reported in the winter months and most victims are boys, with a sixty-to-forty percent male-to-female ratio. How Many Babies Die from SIDS?   Ã‚  Ã‚  Ã‚  Ã‚  From year to year, the number of SIDS deaths tends to remain constant despite fluctuations in the overall number of infant deaths. The National Center for Health Statistics (NCHS) report...

Components of curriculum and curricular approaches Essay

Aims of Elementary education( education act of 1892) In the elementary level, schools through their curricula should aim to: Provide knowledge and develop skills, attitudes, values essential to personal development and necessary for living in and contributing to a developing and changing society; Provide learning experiences which increase the child’s awareness of and responsiveness o the changes in the society; Promote and intensify knowledge, identification with and love for the nation and the people to which he belong; and Promote work experiences which develop orientation to the world of work and prepare the learner to engage in honest and gaining work. Aims of Secondary education In high school or secondary level, educational curricula aim to: Continue to promote the objectives of elementary education; and Discover and enhance the different aptitudes and interests of students in order to equip them with skills for productive endeavor and or to prepare them for tertiary schooling. Aims of tertiary education Tertiary education refers to college and university formal education based on the curricula of the different courses. The different courses should aim to: Provide general education programs which will promote national identity, cultural consciousnes,moral integrity and spiritual vigor; Train the nation’s manpower in the skills required for national development; Develop the professions that will provide leadership for the nation; and Advance knowledge through research and apply new knowledge for improving the quality of human life and respond effectively to changing society. School’s Vision is a clear concept of what the institution would like to become in the future. -It is the guiding post around which all educational efforts including curricula should be directed. EXAMPLE 1.A model performing high school where students are equipped with knowledge, skills and strength of character to realize their potential to the fullest. School’s mission School’s mission statement, spells out how it tends to carry out its Vision. -The mission targets to produce the kind of persons the students will become after having been educated over a certain period of time. EXAMPLE 1.Commits to the total development of individuals for life adjustment and to the upliftment of the economically deprived but deserving students through quality instruction, updated facilities and curricula responsive to the needs of the times. School’s goals The school’s vision, and mission are further translated into goals which are broad statements or intents to be accomplished. EXAMPLE 1.Build a strong foundation of skills and concepts 2.Efficient and effective administration responsive of the needs of the university and community. Educational objectives Benjamin Bloom and Robert Mager Defined educational objectives in two ways: 1.Explicit formulations of the ways in which students are expected to be changed by the educative process, 2. Intent communicated by statement describing a proposed change in learners. Objectives direct the change in behavior which is the ultimate aim of learning. Three(3) big domains of objectives Cognitive Domain (Bloom et al 1956) – domain of thought process 1.Knowledge-recall, remembering of prior learned materials in terms of facts, concepts, theories and principles. 2.Comprehension-ability to grasp the meaning of material. 3.Application-the ability to use learned material in new and concrete situation. 4.Analysis-ability to break down material into component parts so that its organizational structure may be understood. 5.Synthesis-ability to put parts together to form a new whole. 6.Evaluation-ability to pass judgment on something based on given criteria. Affective Domain(Krathwohl, 1964) Domain of valuing, attitude and appreciation 1.Receiving-student’s willingness to pay attention to particular event, stimuli or classroom activities. 2.Responding-active participation on the part of the students. 3.Valuing-concerned with the worth or value a student attaches to a particular phenomena, object or behavior. 4.Organization-concerned with bringing together different values and building value system. 5.Characterization by a value system or value complex-developing a lifestyle from a value system. Psychomotor Domain(Simpson,1972) -domain of the use of psychomotor attributes. 1.Perception-use of sense organ to guide motor activities. 2.Set-refers to the readiness to take a particular type of action. 3.Guided response-concerned with the early stages in learning complex skills. 4.Mechanism-responses have become habitual. Performance skills are with ease and confidence. 5.Complex overt responses-skillful performance with complex movement patterns. 6.Adaptation-skill well developed that the ability to modify is very easy. 7.Origination-refers to creating new movements patterns to fit the situation. Component 2 CURRICULUM CONTENT OR SUBJECT MATTER Curriculum Specialists Content or subject –another term for knowledge. -It is a compendium of facts, concepts generalization, principles and theories. -This is the subject centered view of the curriculum. Gerome Bruner  Ã¢â‚¬Å"knowledge is a model we construct to give meaning and structure to regularities in experience. Example of the broad subject areas or general education. Communication Arts -It include skills in listening ,speaking, reading and writing as well as the effective use of language in daily living. Social Studies -Include basic elements of Geography, History, Sociology, Anthropology, Economics,Civics,Political Science and Psychology. What subject matter will be taught in the different clusters in order to achieve the ogjectives? What criteria should be used in selecting the content? Here are some criteria which can be utilized in the selection of subject matter content or knowledge for the curriculum. 1.Self-sufficiency -According to Scheffler (1970) the prime guiding principles for content selection is helping the learners to attain maximum self-sufficiency in learning but in the most economical manner. 2.Significance -When content or subject matter will contribute to basic idea, concepts ,principles and generalization to achieve the overall aim of the curriculum. 3.Validity -The authenticity of the subject matter. 4.Interest -For learner-centered curriculum,this the key.A learner will value the content it it is meaningful to him or her. 5.Utility -Usefulness of the content or subject matter may be relative to the learner who is going to use it. 6.Learnability -Subject matter should be within the range of the experiences of the learners. 7.Feasibility – The subject matter or content be learned within the time allowed, resources available, expertise of the teacher and the nature of the learners. There are other considerations that may be used in the selection Of the learning content. As a guide, subject matter or content can be selected for use if these are: a. frequently and commonly used in daily life; b. suited to the maturity levels and abilities of students; c. valuable in the meeting need and the competencies of a future career; d. important in the transfer of learning. In organizing or putting together the different learning contents- Palma,1992 PRINCIPLES BALANCE -Curriculum content should be fairly distributed in depth and breadth of the particular learning area or discipline. ARTICULATION -When each level of subject matter is smoothly connected to the next, glaring gaps and wasteful overlaps in the subject matter will be avoided. SEQUENCE -The logical arrangement of the subject matter. INTEGRATON -The horizontal connections are needed in subject areas that are similar so that learning will be related to one another. CONTINUITY -The constant repetition, review and reinforcement of learning. COMPONENT 3 CURRICULUM EXPERIENCES This section will link instructional strategies and methods to curriculum experiences, the core or the heart of the curriculum -The instructional strategies and methods will put into action the goals and use the contents in order to produce an outcome. -The action are based on planned objectives, the subject matter to be taken and the support materials to be used.  Teaching methods ( time-tested methods,inquiry approaches,contructivist and others). Educational activities( field viewing, conducting experiments, interacting with computer programs, field trips and other experiential learning) Some guide for the selection and use of methods 1.Teaching methods are means to achieve the end.They are used to translate the objectives into action. 2.There is no single best teaching method. Its effectiveness will depend on the learning objectives, the learners and skill of the teacher. 3.Teaching methods should stimulate the learners desire to develop the cognitive,affective ,psychomotor, social and spiritual domain of individual. 4.In the choice of the teaching methods, learning styles of the students should be considered. 5.Every method should lead to the development of the learning outcomes in the three domains:cognitive,affective and psychomotor. 6. Fexibility should be a consideration in the use of the teaching methods. COMPONENT 4 CURRICULUM EVALUATION Worthen and Sanders -all curricula to be effective must have the element of evaluation. Curriculum evaluation -refer to the formal determination of the quality, effectiveness or value of the program, process, product of the curriculum. Tuckman(1985) -define evaluation as meeting the goals and matching them with the intended outcomes. Model of evaluation Stufflebeams’s CIPP -In CIPP, the process is continuous and is very important to curriculum managers like principals, supervisors, department head, deans and even teachers. C-context I- Input P-Process P-Product Context -refers to the environment of the curriculum. The real situation where the curriculum is operating is its context. Input -refers to the ingredients of the curriculum which include the goals, instructional strategies, the learners, the teacher, the contents and all the material needed. Process -refers to the ways and means of how the curriculum has been implemented.. Product -indicates if the curriculum objectives accomplishes its goals. Suggested plan of action for the process of curriculum evaluation 1.Focus on one particular component of the curriculum. -Will be the subject area,the grade level,the course,or the degree program? Specify the objectives of evaluation. 2.Coolect or gather the information. -Information is made up of data needed regarding the object of evaluation 3.Organize the information. This step will require coding,organizing,storing and retreiving data for interpretation. 4.Analyze information -An appropriate way of analyzing will be utilized. 5.Report the information -The result of evaluation should be reported to specific audiences. Reporting can be done formally in conference with stakeholders, or informally through roundtable discussions and conversations. 6.Recycle the information for continuous feedback, modification and adjustments to be made. CURRICULAR APPROACHES Behavioral Approach Frederick Taylor Anchored on the behaviorist principles, behavioral approach to curriculum is usually based on a blueprint. in the blueprint, goals and objectives are specified, contents and activities are also arranged to match with learning objectives. Managerial approach The managerial approach became a dominant curriculum approach in the 1950’s and 1960’s.The principal is the curriculum leader at the same time instructional leader who is supposed to ne the general manager. The general manager sets the policies and priorities, establishes the direction of change and innovation, and planning and organizing curriculum and instruction. Curriculum managers look at curriculum changes and innovations a they administer the resources and restructure the schools. Some of the roles of the Curriculum supervisors (Ornstein and hunkins,2004) 1.Help develop the school’s education goals. 2.Plan curriculum with students,parents,teachers and other stakeholders. 3.Design programs of study by grade levels. 4.Plan or schedule classes or school calendar. 5.Prepare curriculum guides or teacher guides by grade level or subject area. 6.Help in the evaluation and selection of textbooks. 7.Observe teachers. 8.Assist teachers in the implementation of the curriculum. 9.Encourage curriculum innovation and change. 10.Develop standards for curriculum and instructional evaluation System approach The system approach to curriculum was influenced by system theory. In this approach the parts of the total school district or school are examined in terms of how they relate to each other. The organizational chart of the scholl represents a systems approach. George Beauchamp -The system theory of education see the following to be of equal importance are 1.adminstration 2.counseling 3.curriculum 4.instruction and 5.evaluation Humanistic approach This approached is rooted in the progressive philosophy and child-centered movement. This approach considers the formal or planned curriculum and the informal or hidden curriculum. It considers the whole child and believes that in curriculum the total development of the individual is the prime consideration. The learner is at the center of the curriculum

Franklin D. Roosevelt was one of the most amazing men in...

Franklin D. Roosevelt was one of the most amazing men in U.S. history. FDR was the only president to run for four terms. He had a wife kids and a mother who he lived with he was also the only president who was paralyzed from the waist down. He was elected president in November 1932 for his first four year term. In the first 100 days of his presidency would become his most famous ones. During the first 100 days he created a alphabet soup of government agencies such as the CCC, the WPA, and the NRA. Most of these agencies were a success but some were a big fail. During this time period he also gained very much respect from congress and the Republican party, making him a very strong President. He always had a policy and it was that, if†¦show more content†¦So everyone loved Roosevelt. He was the first president that the people felt cared about them. When FDRs CCC was formed many people apposed it because it cost lot of money that the country did not have. Although it turned out to be an amazing success and one of the most affective plans FDR had. The CCC started out small but grew very rapidly more men were joining even though it only paid a dollar a day. It became a popular thing for young men in the great depression. The CCC was only part of a plan that FDR made called the New Deal . The New Deal consisted of the FDIC, the NIRA, the TVA, and the WPA. First to talk about is the FDIC. FDIC stands for the Federal Deposit Insurance Corporation. T FDICs job was that if a bank failed the government would pay the people that used that bank their money back if the bank failed for some reason. This agency still operates today. Next is the AAA. The AAA stands for Agricultural Adjustment Association. What this agency did was buy land from farmers so the government could fix it up and sell it back. This did not work it was one of the new deals epic fails. Finally is the NIRA. The NIRA stands for the National Industrial Recovery Act. 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Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps. Library of Congress