Macroeconomics and Microeconomics - MicroFB Essay

Macroeconomics and Microeconomics - MicroFB - Essay Example For example, when a 20% increase in vehicles results from a 20% increase in investment on manufacturing equipments, then the firm could be experiencing constant returns to scale. Question three Economic profit refers to the difference between total revenue and opportunity cost. For instance, Pesso invests $1,000 to begin a business in a particular year which she earns $1,200 in profits. But if she had not begun the business she could have earned a salary of $4,500. In such a case, the economic loss is $250 (1,200 – 1000 – 450). Question four Law of diminishing marginal returns states that as new workers continue to increase, the marginal product of any additional worker will at some instant be lower than that of the previous worker. For instance, if a company employs workers to produce its commodities, at some point in time each additional worker will provide lower output than the previous worker, if all other factors remain unchanged. Question five Marginal product of labor refers to the change in output resulting from hiring an additional worker. For example, if a pizza restaurant with three employees makes 100 pizzas in a day and 120 pizzas with four employees, the marginal product of labor is 20 pizzas (120 – 100). ... For instance, a firm that has spent $10 million acquiring a machine which is not yet installed has to consider the $10 million sunk because it cannot recover the money. Question eight The principal-agent problem refers to the conflict of interest that occurs when an agent is hired by a principal to conduct specific tasks that are extremely costly but in the best interest of the principal. For example, the problem will occur when a company hires a rating agency to set a credit rating and the agency is objective to give a higher rating than that which is deserved in fear of losing future contracts. Question nine Equilibrium price refers to the market price where demand of a good equals the supply. For example, when a market is able to produce 100 pizzas which exactly equal the demand of the pizzas, the price at which the pizzas are offered is the equilibrium price. Question ten Tragedy of the commons can be defined as the dilemma that arises from the situation in which many individuals , working independently and only consulting own interest, will eventually diminish a shared scarce resource even when it is apparent that the action is not in the long-term benefit of all. For instance, if the activities of a mining company affect a natural spring that is the source of water for local people and animals, the occurrence is a tragedy of the commons. PART THREE Question one Economies and diseconomies of scale refer to two completely opposite models. Economies of scale occur at a point when the quantity produced by a firm offers the firm the low cost advantage and the firm earns the minimum cost advantage. Conversely, diseconomies of scale occur at a point when the firm produces less than the amount of the input costs and the

Symbolism of Movie The Matrix Essay Example | Topics and Well Written Essays - 750 words

Symbolism of Movie The Matrix - Essay Example Symbolism in this movie is portrayed specifically by the characters and its plot. The movie focuses on how a small group of humans waged war against Artificial Intelligent Machines which seemed to have overtaken humanity (Roz Kaveney 34). In the movie, the machines take part in destruction and simulation of the world. The name of the movie refers to the simulated world, that is, a faked world. Matrix believers, as the movie depicts, agree with everything they do, feel, touch, do or anything that comes in their sight as real. In the movie, Zion City, which is located underground remains as the only human city where the machines have not conquered. Those who are not believers of Matrix together with those who have pulled out, reside in this city. However, just like extentialists like Kierkegaard, who do doubt the existence of God who can help us can be compared to those who believed in the Matrix. They did not believe that there was existence of a better place than where they were at t he moment. The symbolism used in the movie comes directly from the scriptures. It is however not concerned or related with any particular claims of a given religion. In Philosophy, this can be termed as Philosophy of Religion. For instance, the hidden city called Zion in the movie is what, according to the scriptures, called the wilderness. Just like in the scriptures, the wilderness is a truth that not many people know about. The same applies to Zion, which is actually hidden. In addition to this, according to the scriptures, the wilderness is a place God has created to protect his people against the evil when satan knocks at the door. Just like the children of Israel entered the wilderness as a place where they could find refuge, Zion served as a place where those people who did not believe in the Matrix ran to hide against the wicked Artificial Intelligent Machines. Just as an addition, Zion, the name used for the city in the movie, was one of the names given to the Children of I srael. Another area where symbolism is used in the movie, just like in the scriptures, when satan waged war against the children of Israel, not all children ran to the wilderness for hiding. The same applies in the movie where it is seen that all people run to the hidden city for refuge. Most of the key characters taking up various roles in the movie are Hebrews (blacks). This makes one to arrive at a conclusion that the person who did the writing of the movie, most likely was a black person. It is actually true, Sophia Steward, also referred to as the Mother of the Matrix who is a Hebrew Sister is the original author of the movie. The simulation used in the movie portrays the deceptive nature of the satanic world. According to Revelations 12:9, it is said that the great dragon, which is an old serpent also referred to as the Devil or Satan, has his main mission to deceive the world. This simulation, as used in the movie, makes those who believe in the Matrix not to have any questio n marks in their actions, whatever they see and feel. They take everything as real. According to From Alien to the Matrix, it is obvious that some roles were to be played no other group but the Hebrews. It is clear that none of the Hebrews did take up any role associated with the evil. The agents, on the side of characters and characterization, were allocated the most diabolical roles. In essence, they were used to

Common Theme Essay Example | Topics and Well Written Essays - 1250 words

Common Theme - Essay Example The socially relevant message that most of the works of Margaret Atwood contains is quite evident. An urge for change is always on demand in all her literary masterpieces. The poems she has written are no exception. In most of her poetic works a theme of ‘call for change’ is well reflected. This in broader terms is the message of ‘renovation’. Different socially relevant scenarios have been both directly and indirectly depicted in the works of Margaret Atwood. All of those works, towards their end has concluded with a call for change or even an indication towards the possibility of a positive situation. The objective of this essay is to critically analyze different poems of Margaret Atwood and to explain the ways in which they have dealt with the theme ‘renovation’. Three different poems were considered for the review. They included ‘The Sad Child’, ‘Bored’, and ‘More and More. The trial of the author to reflect a message on the need for renovation is being highlighted in the essay. It is quite evident that the role of the poet as a social activist has highly influenced the writing style and the plots of the poems. She being a feminist and her urge to see a social renovation has well been reflected as a gist of the poems which are being analyzed. Though the subjects of social interest have been wide and vivid, the common factor in all of them is the need for change. ‘The Sad Child’ has within it a solid message for the generations to come. It demands children to change and to be happy so that the world of tomorrow is happy along with them. In the initial lines of the poem, the poet has well created a background, explaining the sadness that the childhood bears. Interestingly, the context of sadness of children has been plotted by the author in such a way to be globally relevant. When someone from an underdeveloped nation reads this, he or she would relate this sadness to the one because of

The era of the plutocrats Essay Example | Topics and Well Written Essays - 750 words

The era of the plutocrats - Essay Example He was not merely a financier and a banker but a philanthropist and an art collector. He gained his education in both US and Germany. He was trained as an accountant at Sherman and Company and in 1867, was transferred to his father's banking company Drexel, Morgan and Company where he became a partner in 10 years. In 1895, the company was renamed as J. P. Morgan and became a world renowned banking house. He was responsible for arranging the merger between Edison General Electric and Thompson-Houson Electric Company. The new company formed, General Electric came on to become the main electrical equipment manufacturing company in the country. He financed Federal Steel Company and merged it with Carnegie Steel Company which came on to become United States Steel Corporation. With the help of his network in London, he was able to attract British investment for growing industrial corporations in the U.S. as he played a major role in attaining capital for companies. He became a member of th e board of directors of many of these companies, most of which were rail road companies. This meant that by 1902, Morgan had control over 8,000 km of railroads in America. To gain control over major corporations, he concentrated his efforts on acquiring control of several banks and insurance companies. He was at times criticized for his hunger for power and his urge for gaining control (Simkin, JP Morgan) Andrew Carnegie was born on November 25th, 1835, in Dunfermline, Scotland to a handloom weaver. The Carnegie family had to immigrate to the United States in 1848 because of the economic depression. In America, Andrew began to work at the age of 12 at a local cotton factory while pursuing his education by attending night school. At 14, Andrew Carnegie took the job of messenger boy where his talent was duly noticed by the superintendent of the western division of the company, Thomas A. Scott. When during the Civil War Scott was made secretary, he took Carnegie along with him to Washi ngton to work as his right-hand man. Organizing the military telegraph system was part of Carnegie’s job. On becoming superintendent, Carnegie wisely invested in many promising ventures, one of which was Woodruff Sleeping Car Company and many other small iron mills and factories, the most important of which was the company which he owned a one-fifth share in: Keystone Bridge. Some of the major milestones he achieved include the opening of his steel furnace at Braddock, writing a series of books and articles through which he voiced his opinions that the rich should help the poor and a man that dies rich is disgraced. He also set up a fund which finances 3,000 public libraries (380 in Britain), the Carnegie Institute of Pittsburgh, the Carnegie Institute of Technology and the Carnegie Institution of Washington. By the time of his death, he had donated $350,000,000 (Simkin, Andrew Carnegie). Born in New York in 1839, John Davidson Rockefeller at the young age of 16 became a cler k in a commission house. He wanted to work for himself and in 1850 by saving every penny he earned, he with an Englishman, Maurice Clark, opened his own company, Clark & Rockefeller Produce and Commission which sold farm implements, fertilizers and household goods. He sold his successful business for the more lucrative business of refining crude oil and started a company called Standard Oil. He was able to minimize costs by setting up an exclusive deal

Consumer Society Essay Example | Topics and Well Written Essays - 1250 words

Consumer Society - Essay Example In general, society is distinguished by its characteristic modes of production and economic life. However, what is thought to distinguish the society is not solely a new mode of production, but a new social imperative - the changing distribution of economic and social resources. Since 1900s, consumers became conscious about high quality of products and services they received. Fordism was one of the main features of this period. It caused a technological advance in mass production and labour relations, production of low price commodities to the workers. In contrast, upper and middle classes needed luxury goods and high quality services which supported and 'reflected' their high social status. Following Marx's theory of class conflict, it is possible to say that class was defined by its modes of collective action, and sought to show how rights to productive resources, credentials, party membership, lineage, etc., could all be distinct bases for social closure in the struggle for distributive advantage. Similar to other periods of production and social development, race was a silent factor which was often neglected by economists who analyzed distribution of economic and social resources in terms of class location of individuals. During this period of time, com modification was one of the main processes which marked the new era in consumption. Many objects and signs were turned into commodities available for consumers (Dant 1999). The 1920s-1930s marked a new and one of the most important eras in production and consumption modes. After a short postwar recession, the economy grew exceedingly. Unemployment dropped as low as 3 percent, prices stayed steady, and gross national product increased by nearly 30 million in seven years. Some of this prosperity was due to technological advancements such as electricity. New systems for distributing goods also affected the US economy; perhaps the most influential producer of a good economy was advertising. The culture of the 1920s-1930s associated with consumerism and money-oriented behavior. Automobiles, another reason for the boom of the 1920s, caused a need for assemblers, which increased the job market, and by 1930 the automobile industry made up for about 9 percent of all wages. Because of this new found freedom people were able to drive to the chain department stores that perhaps were not convenient before (Weintraub 1958). The 1920s could be described as the "coming of age". Through technology, arts, sport and science American culture was shaped in a 10-year period. Faster music, looser morals, and skimpy dress all contributed to the end of our nation's adolescence. However there was one factor that would later define the 1920s: prohibition. Seemingly, with a "coming of age" also came intelligence. As one faction of society pushed for looser morale, another group was right behind them leading the charge against social evils. The main objective of these groups was to do away with social evil by putting an end to its source: alcohol. Prohibition contributed to the prosperity of the 1920s by leading UK on a dry path to overall well being, reducing alcohol production, plummeting alcohol consumption, and promoting health. In order for one thing to be considered good, something else have to be considered bad. This contrast explains how beauty exists because there is misery in the world, and it exists exclusi vely in the human mind. Personal

International Business and Cultural Diversity Essay - 1

International Business and Cultural Diversity - Essay Example In the modern, contemporary society, one of the most overused terms is culture (Samovar, Porter and McDaniel 2012). According to Schein 2010, culture can be divided into four broad categories. These are macro cultures, subcultures, organizational cultures and micro-cultures (Bosshardt 2006). Culture is a dynamic phenomenon and a basic background structure that has the effect of influencing us in a wide variety of ways. It is constantly changing and reenacted by our constant interactions with other people and is progressively shaped by our own behavior. The main connection between culture and leadership can clearly be seen in microcultures and organizational cultures where the culture in such systems is usually thought of as the end result of the embedding that an organization’s founder or leader within the group has imposed upon it and it with positive results (Schein, 2010). Culture can also be broadly defined as a set of shared values like beliefs, norms, behaviors, attitudes, material objects and symbolic resources. Basically speaking it can be thought of as the basic rules for functioning and living within a given society (Samovar, Porter and McDaniel 2012). Variables can broadly be defined as items that we can control, measure or even manipulate while performing research. They are viewed as characteristics that have the potential of having more than one value or score. They can be viewed as being relatively straightforward for instance when we consider variables such as income or age while sometimes they can be viewed as being relatively abstract such as when we are considering items such as a degree of prejudice or even social class (Inglehart and Welzel 2007). Researchers constantly analyze variables in order to determine how they end up influencing each other.Social variables can be viewed as logical sets of attributes. An attribute of a person is either male or female will have the main variable of gender or sex (Weinstein 2005).

How does Socrates trial and punishment resemble those of Malcolm X Research Paper - 1

How does Socrates trial and punishment resemble those of Malcolm X Whose journey was more important or more significant - Research Paper Example Both surrendered themselves to the ideas they tried to communicate during their lives. Even if the death of Socrates was the product of legitimate trial and Malcolm X’s assassination was the result of a lynch-law, both punishments were the acts of human stupidity, killing talented leaders and making positive change virtually impossible. Some authors claim that the trial and punishment of Socrates resembles those of Malcolm X. The logic behind the claim is simple: both were prominent leaders and surrendered themselves to the ideas they were trying to communicate during their lives. Socrates lost his life, being confident that â€Å"wherever a man’s place is, whether the place which he has chosen or that in which he has been placed by a commander, there he ought to remain in the hour of danger; he should not think of death or anything but of disgrace† (Plato 9). Malcolm X, in turn, lost his life as a result of his natural striving toward justice and fairness, away from the political manipulation and deception. Those who say that the trial and punishment of Socrates and Malcolm X were similar are partially right. Like Socrates who drew his inspiration from his inner voice and other people, Malcolm X became a prominent civil rights leader and a changed man, because he had inner guts and skills to lead (Phillips 56). The movie Malcolm X tells the story of the young man’s conversion to Islam and exposes the tragedy of assassinating people as talented and spiritually rich as Malcolm X (Lee). Like Socrates, Malcolm X stands out of the crowd and seeks to communicate his message to people. Socrates disregards Athenian Gods but votes for the significance of honor, honesty, fairness, and justice (Plato 9). Malcolm X, in turn, claims that human rights are â€Å"the rights that are recognized by all nations of this earth† (Malcolmx.com). Both men fell victims to their ideas and the striving to improve the lives of thousands. Both stood in front of the crowd