Bad Boss Good Boss Essay

â€Å"Servants don’t know a good master until they have served a worse,† (Aesop). By the tender age of eighteen, most people have had a job. Whatever that job was, the kind of master –boss encountered most likely made a big difference in how work performance is perceived and what constitutes a good or a bad boss. The collaborative relationship or lack there of, between an employee and employer is a contributing factor when measuring whether or not one has been successful. In these encounters one invariably learns the difference between a good or a bad boss. When comparing leadership capability of bosses, it is important to consider communication, collaboration, and people skills to determine their ability to succeed. Good bosses communicate with their employees effectively, while bad bosses are poor communicators. All bosses differ in their communication style. Some bosses like e-mail while others like face-to-face contact. Employees need communication from their bosses to make good decisions and to make sure a job is being done to specification. For example, a project is due in a week’s time; there are three different ways to complete this project, but there is only one way from management’s point of view. A good boss will take the time to explain clearly how he or she wants this job to be done; he or she will show the employee the correct way to do the job so the employee does not second guess himself. How a boss communicates with the employee has a major impact on their performance. Good bosses inspire and motivate the people they lead, encourage them to give feedback, and avoid launching into arguments or becoming angry when they think an employee is wrong. A bad boss on the other hand is withdrawn; he or she does not seem to care if their employees perform to their highest standard, and give neither time nor priority to listening as long as they get the job done. For example, an employee is doing a job that he or she could do much more effectively with a little  guidance; instead of the boss communicating with the employee, he allows the employee to complete the job and does not show the employee anything. Bad bosses do not feel it necessary to tell the employees anything about the bottom line or how the company is doing, he or she does not care about the well being of the employee or how they are performing in their jobs. They just do not communicate, and rarely show any emotion-good or bad. A good boss collaborates with employees, bad bosses are selfish. During one’s working career, one will have many bosses with varying leadership styles and interpersonal skills. Despite the disparity of personalities, the collaborative relationship the boss has with the employees is significant and the effects long lasting. Working well with the employees requires a concerted effort to obtain the knowledge and skills forming the foundation of a mutually beneficial relationship. A good boss knows that improving collaboration with the employees is essential to the advancement and completion of doing a good job. He or she will work with employees to achieve goals and complete projects. If working on an assembly line, a good boss will take the place of an absent employee and do the exact job that employee was doing. Conversely, a bad boss does not know the meaning of team. He will show a lack of interest in the well–being of the people he leads, and he will be prone to be demeaning and disrespectful. He or she will take the credit for a job done well without any acknowledgement to the employees that actually completed the work. When things do not go as planned, bad bosses will place the blame on anyone but themselves, they tend to find it easy to blame wasteful work systems, processes, and staff members for their inability to meet company wide goals and performance standards. Good bosses exhibit good people skills; however, with bad bosses it’s all about them. A good boss will go out of his way to accommodate an employee. Even when reprimanding an employee they will always give them a chance to explain and tell their side of the story. A good boss will tell an employee not to take it personally and take the time to explain that everyone has a bad day. As opposed to a bad boss who does not care about what the employee is feeling, he or she just wants the job done-no questions asked. Bad bosses tend to flaunt their rank and make sure the employees have no doubt about who the boss is. He or she will never get in the trenches with the employees as this is beneath him. When employees do a good job and  are recognized by others, the bad boss wants all of the glory. On the other hand, if he or she is being recognized they do not share the spotlight with the employees. Bad bosses have a false sense of security, they feel that what they are doing is fine as long as upper management does not hold them responsible or accountable for actions or positive change, and things remain in a constant state of confusion for the employees. In the business world, good bosses are an asset to any company. They appreciate what their employees do and do not mind getting in the trenches with them. The turnover rate in the workplace would be much lower if all companies had bosses that were competent, compassionate and fair. Although there may be as many good bosses as there are bad, it is likely that most bosses are a bit of both, ‘swinging both ways’ so to speak. To have a boss that makes employees realize that they have more ability than they thought they had so they do better work than they thought they could, versus a boss that negatively impacts the work environment by fostering high levels of employee frustration, stress, resentment, and unnecessary labor turnover makes all the difference between a successful and unsuccessful company. When given a choice, most people if not all would choose a good boss over a bad boss every time. During the working career, one will have many bosses with varying leadership skills and interpersonal styles. Despite the difference in personalities, the collaborative relationship you have with your boss can be significant and the effects long-lasting. Whether the boss is good or bad, some boss-employee relationships can withstand the test of time. Forming a harmonious and productive relationship with the boss can be good but is not always possible. Every boss brings with them different personalities, backgrounds and challenges. The bottom line is in all successful companies the leaders possess a certain degree of collaboration, communication and good people skills. At the end of the day in a successful company the bottom line is really what matters. References Day, J. A. (n. d.). Good boss, bad boss? Ezine articles, 1-3. Retrieved from http://ezinearticles.com/?Good-Boss,-Bad-Boss?&id=7250782 Jamison, T. G. (2012, 3/27). 7 Signs of a bad boss. BioSpace. Retrieved from http://www.biospace.com/news_print.aspx?NewsEntityId=254513 Post, P. (2013, 11/17). What does a good boss do to be a good boss. The Boston Globe, pp. 2. Retrieved from http://www.bostonglobe.com Scott, D. E. (2007, 2/1). personal & Financial Health. Collaboration with your boss: strategic skills for professional nurses., 1-3. Retrieved from http://www.thefreelibrary.com/_/print/PrintArticle.aspx?id=159079514

Economical Effect of Michael Jordan

I had originally planned to write a paper on Michael Jordan's economical effect on today's sports in America. I had even researched and written two pages before I stopped and realized that I would like to instead discuss Michael Jordan's life and mystical career. Over the last twenty years Michael Jordan has captivated and awed me with his brilliant success both on and off the basketball court. I have wanted for some time to write about him and try to rationalize his seemingly unbelievable life and this paper has given me a chance. The legend began in 1981 with seventeen seconds left on the clock and seventeen feet between Michael and the basket. It was a shot any coach drawing up a play for a talented player for the final shot would die for. He knocked it in and North Carolina had its first National championship. Even though North Carolina had the best college player in the country in James Worthy and other great stars in Sam Perkins and Matt Doherty, it was the scrawny freshman who had come on the scene that year to become the first Carolina freshman to ever start that took the biggest shot in the program's history. It was Michael Jordan who was the man that night and he was determined either consciously or unconsciously to never let anyone question who the man is again. Michael went on to become two-time national college player of the year and in 1999, was voted the greatest college basketball player ever. (CNN/Sports Illustrated) After his junior year, having accomplished everything possible for a college player, Michael decided to turn professional. (He later completed his degree taking summer school courses) But first he would go on to dominated the 1984 Olympics and lead the United States to the gold medal. It could be left up to Spanish Olympian Fernando Martin to sum up the Michael Jordan phenomenon, circa 1984. â€Å"Michael Jordan? † he asked. â€Å"Jump, jump, jump. Very quick. Very fast. Very, very good. Jump, jump, jump. † No NBA scouting report could have been more pertinent. By the time Michael detonated on the league in 1984, he had sprouted from a precocious and exciting young talent into a full-fledged human event. As his rookie season marched on, Jordan upstaged proven giants like Magic Johnson, Larry Bird, and Dr. J. and already was becoming the first player to transcend team affiliation on the road. Fan's didn't come out to see their hometown heroes beat the Bulls; they bought tickets to watch Michael Jordan fly. In his rookie year Michael averaged an astonishing 28. 2 points per game (third overall) and was selected to the all-star game. He also led the team to the playoffs for the first time in four years. A feat he would continue to ensure every year of his career. It was in his second year that Jordan's bitter relationship with Bulls general manager Jerry Krause and owner Jerry Reinsdorf began. Michael had broken his foot three games into the season and had spent the next months rehabilitating in order to come back as soon as possible. When he was finally healthy to play the Bulls record was 24-43. Michael believed that the team could still make the playoffs and was excited for the challenge. Krause and Reinsdorf had other ideas. They wanted to keep Michael from playing so that they could keep losing and secure a place in the draft lottery. To someone as competitive as Michael Jordan, this idea was simply sinful. It meant that the people who employed him were not as committed to winning as he was, that they accepted the idea of defeat as he did not, and that they were wiling to bag the current season and any chance at the playoffs in order to improve their roster for the future. Even on a bad team with marginal players like the early Bulls, the remarkable thing about Michael Jordan was that he never accepted the idea of defeat. He believed that as long as he played, the Bulls could make the playoffs, and that if he got there, he could carry them on to victory. Management finally did let him play and the Bulls did make the playoffs where they faced the best team in the league, the Boston Celtics. It was the stage that Michael lived for and he took full advantage. Although the Bulls were swept by the eventual champions, Michael's fame and notoriety had a quantum increase after the series. No one was really prepared for what happened. In the first game Michael came out blistering and scored forty-nine points. A great performance against the top defensive team in the league, but not extraordinary. In the second game Michael performed at a playoff level that no one had witnessed before. The CBS sports broadcast seemed more like a personal highlight reel than an actual game. By the end of the double overtime war, he'd hit for 63 points, the most points ever scored in playoff history. Celtic Danny Ainge later said, â€Å"We knew when we had gone into the game that he was very good, but none of us knew yet that he was going to be the best player who ever laced up sneakers, but we were in the process of learning it, and that afternoon was a good beginning. Perhaps Larry Bird, the MVP of the league at the time, put it best, â€Å"That was god disguised as Michael Jordan. † In his rookie year Michael already had become one of the top product endorser in the league. He had signed a then unheard of contract with Nike that paid him $250,000 a year for five years with an annuity, incentives, and royalties on all Nike basketball related items. Michael had originally wanted to sign with Addidas even if they offered him less money than Nike, but Nike threw in the kicker. They offered to name a shoe after him. The first Air Jordan shoe was a high-top black and red shoe. Three games into the season, the NBA did Michael and Nike a huge favor. The league banned the shoe because it didn't conform to the rest of the Bulls uniform. Michael continued to wear the shoe and the league subsequently fined him $5,000 a game. Nike didn't blink. They paid every penny and Michael continued to wear the shoe. It would have cost millions of dollars to come up with a promotion that produced as much publicity as the league's ban did. The first commercial showed Jordan's head, and the camera slowly moved down his body to his feet. When the camera hit the shoes a big â€Å"X† was stamped on the screen and the announcer said, â€Å"Banned†. After that sales went crazy. But it was Michael's third year when his remarkable qualities where able to be portrayed through the television. Nike had hired a little known film producer named Spike Lee to direct Michael in commercials. The commercials that they make together were able to show Michael's innate charm and wit, and his obvious confidence. He knew who he was and liked who he was. There was nothing threatening about him. He was judgmental- you had to win his respect, and he was clearly shrewd about how he was used- but there was an innate coolness and elegance about him. If this was not yet expressed in anything he said, it was self evident in the smile, in the deft facial gestures, in the ability to roll his eyebrows at just the right moment. He was good looking, he was likable, he had that luminescent smile, and he was the greatest basketball player in the world. The Nike commercials were so good, that they fed on themselves and inspired other companies such as McDonald's, Coke, Hanes, Gatorade, Wilson, and Ballpark Franks among many others to do comparable commercials. And so it was that a true American icon was born. Michael continued for the next three years to grow in both his basketball achievements and his fame. Michael won every single individual basketball award possible and was already considered one of the best players in the history of the game. And outside of basketball the public became more and more fond of him. But in his mind and the mind of many others, Michael was missing something. A championship. For years Michael had carried a seemingly inferior team to the brink, only to succumb to either the great Celtic teams of the early 80's, or the great Pistons, led by Isaah Thomas, in the late 80's. But in 1991 the basketball world could no longer contain Michael Jordan's destiny. After the first championship against the Lakers and Magic Johnson, Michael's fame again skyrocketed. He went from being the most famous athlete in America to being the most famous person in America. By the time Michael had claimed his third championship in a row, his notoriety transcended not only sports but American culture. He was unquestionably the most well known human on the planet. More famous in many distant parts of the globe than the President of The United States. American journalists and diplomats on assignment to the most rural parts of Asia and Africa were often stunned when they visited small villages to find young children wearing tattered replicas of Michael Jordan's Bulls jersey. Michael Jordan's life from 1980 to 1993 was that of a storybook. The success that he achieved in that short time frame quit possibly is unparallel in American history. But at the same time it seemed possible by a very unique and gifted individual. However, the events that occurred in Michael Jordan's life from 1994-1999, in my and many others opinion, at times do not seem possible and in fact almost immortal. You could almost get a sense watching him over the years that you were not in fact witnessing a real story, but one made of fiction. As if all the major media sources in the world got together and decided to concoct this seemingly unbelievable human that never seems to fail. To put the success that Michael Jordan achieved in the last six years in the proper perspective would significantly increase the length of this paper so I would like to instead let some well known others describe Michael Jordan. Harry Edwards, a sociologist at the University of California, talks about Jordan representing the highest level of human achievement, on the order of Gandhi, Einstein, or Michelangelo. If, he added, he were in charge of introducing an alien being â€Å"to the epitome of human potential, creativity, perseverance, and spirit, I would introduce that alien life to Michael Jordan. Doug Collins, once spoke of Jordan belonging to that rarest category of people who are so far above the norm, men like Einstein and Edison, that they were identifiable geniuses. Jordan's talented teammate B. J. Armstrong, frustrated in his early years with the Bulls by his failure to rise to Jordan's level and apparent expectations, had gone to the library and checked out a series of books on geniuses to see if there was anything he might learn about how to deal with Jordan. He's god's child,† teammate Wes Matthews said in Jordan's first year. And there were a number of players more talented than Matthews who agreed. â€Å"Jesus in Nikes,† in the words of Jayson Williams of the Nets. After Jordan led the Bulls to their second title, Larry bird said that there had never been an athlete like Jordan. I think author Scott Turow says it best, â€Å"Michael Jordan plays basketball better than anyone else in the world does anything else. â€Å"

Education in the Philippines Essay

1. Cite at least three objectives of the 1992 EDCOM, 1998 PESS and 1998 PCER. The three innovations to the Philippine education system had these common objectives: * To introduce curricular reform curricular reforms in the school organization * To investigate the modes of delivery, policy structures, and pedagogical philosophies and recommend enrichment thereof * To align education’s modalities to the needs of the times 2. What are the common findings and recommendations of the three studies conducted in relation to the Philippine education system? A. Common Findings i. High dropout rates especially in rural areas ii. Mastery of students in important competencies as shown in achievement levels iii. High levels of simple literacy among 15-24 year-olds and 15+ year-olds iv. Highest repetition rate in Grade I v. Children were generally handicapped by serious deficiencies in their personal constitution and in the skills they needed to successfully go through the absorption of learning B. Recommendations i. Tri-focalization in the management of supervision of basic education, technical-vocational education, and tertiary education ii. Ensure adequate financing and improve the quality of basic education iii. Slow and reverse the haphazard expansion of low-quality tertiary education iv. Provide equitable access to education at all levels so deserving households and communities can benefit from the provision of public education v. Improve overall sector management through greater local participation and accountability 3. Identify the actions taken by the concerned agencies to respond to the recommendations of the studies conducted? Actions taken are the following: * Congress enacted Republic Act 7722 that created the Commission on Higher Education (CHED) that is responsible for higher education * Congress enacted Republic Act 7796 that created the Technical Skills Development Authority (TESDA) which is duty-bound to supervise and manage post-secondary and middle-level manpower training and development * Congress enacted Republic Act 9155 that created the Department of Education (DepEd) that handles basic education (elementary and secondary levels) * For a time, there was moratorium on the establishment of State Colleges and Universities (SCUs) * Tertiary education has been given reduced allocation for Maintenance and Other Operating Expenses (MOOE) * Surveys on applied assessment methodologies and processes were conducted * Republic Act 10029 (Philippine Psychology Act of 2009) was enacted into law that aims to maintain the development of assessment which is part of the services offered by psychologists * Executive Order No. 46 established the Presidential Commission on Educational Reform (PCER) that is a multi-sectoral body that defined a comprehensive and budget-feasible program of reform in the education system 4. Do the actions taken have an impact on the ailing Philippine educational system? Yes. In many ways the actions taken by the respective agencies of the government have created impact to the Philippine education system. For instance, DepEd has now concentrated in strengthening the knowledge and skills of elementary and secondary level learners in order to prepare them to the more rigorous life in tertiary education. In addition, CHED has introduced the emphasis of research in support to new teaching methodologies and has identified â€Å"Centers of Excellence† and â€Å"Centers of Development† among colleges and universities nationwide. Then TESDA hones the skills of middle-level manpower that is needed in the country and overseas. Although much has to be done yet to create an atmosphere of genuine excellent Philippine education system, more and more actions have been undertaken by the government to address the pressing problems on deteriorating quality of education. Aside from enhancing the competencies of learner.

Compensated Demand Curve

The Compensated Demand Curve Definition: the compensated demand curve is a demand curve that ignores the income effect of a price change, only taking into account the substitution effect. To do this, utility is held constant from the change in the price of the good. In this section, we will graphically derive the compensated demand curve from indifference curves and budget constraints by incorporating the substitution and income effects, and use the compensated demand curve to find the compensating variation. Let us consider a price increase for a normal good, a good whose demand increases as income increases. In Figure 7. e. 1, assume that the price of Y (PY) is $1, and that the individual has an income of $100. The initial price of X (PX) is $1, so the individual’s initial budget constraint is therefore BC1, with a vertical intercept of 100, and a horizontal intercept of 100. The individual reaches his optimum (maximizes utility) at point A, where his initial budget constrai nt BC1 is tangent to the indifference curve IC1.Let’s say that at this point, he maximizes his utility by consuming 43 units of good X. If PX increases from $1 to $2, his budget constraint will rotate inward until it reaches BC2 where there is now a horizontal intercept of 50. The individual now reaches his new optimum where the indifference curve IC2 is tangent to BC2 at the point B, where he maximizes his utility by consuming 18 units of good X. We can use these points to plot a demand curve for good X: According to Figure 7. e. 1, when PX is $1, the individual maximizes utility at point A where he consumes 43 units of X.This information can be replotted on a curve showing the relationship between the price of X and the quantity of X consumed (figure 7. e. 2). At a price of $1, the individual will consume 43 units of X, so the point A will replot on figure 7. e. 2 as the point A’. Similarly at point B, at a price of $2, the individual will consume 18 units of X, so t he point B will replot on figure 7. e. 2 as the point B’. If we connect A’ and B’ together, we will get the ordinary demand curve for good X In order to obtain the compensated demand curve, we must first observe 2 effects that take place as PX increases:Substitution Effect: when Px increases from $1 to $2, X becomes relatively more expensive than Y, so the individual consumes less X. To show the substitution effect, we must hold the individual’s utility constant. To do this, we draw a budget constraint BC3 that is parallel to BC2 and shift it up until it is just tangent to a point on his original indifference curve (IC1). This occurs at point C, where the consumer is consuming 29 units of X. The substitution effect is the movement from point A to CIncome Effect: because Px has increased, the individual’s purchasing power has decreased, and thus has less money to spend on both X and Y. Because X is a normal good, the individual will consume more as his income increases. The individual will reach an optimum at point B where he will consume 18 units of X. The income effect is the movement from point C to B To summarize, Total effect = Substitution Effect + Income Effect = A to C +C to B We have already found the ordinary demand curve by replotting points A and B as points A’ and B’.In essence, this is the total effect of the increase in PX. Because the compensated demand curve assumes that utility is held constant, it only shows the substitution effect. Therefore, we simply have to replot points A and C. We have already determined that point A replots as A’ at a price of $1 and a quantity of 43. At point C, the individual consumes 29 units at a price of $2; so we can replot this point as point C’ on figure 7. e. 2. If we connect these 2 points together, we get the compensated demand curve. We can prove that good X is a normal good. One way to do it is to look at Figure 7. e. and notice that between po ints B and C, as income increases, the consumption of good X increases, which fits the definition of a normal good. Another way is to look at the compensated demand curve and compare it with the ordinary demand curve. The compensated demand curve in figure 7. e. 2 is steeper than the ordinary demand curve. When this condition holds, good X is a normal good. We can also use the compensated demand curve to find the compensating variation. The compensating variation is the amount of money required to restore an individual to his original utility level when prices change.In figure 7. e. 2, it is represented by the area between the two prices, and left of the compensated demand curve – it is the sum of areas S and T. Meanwhile the change in consumer surplus is simply the area between the two prices and left of the ordinary demand curve – it is the area S ———————————————à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ †¢ Next, consider a price decrease for an inferior good, a good whose demand decreases as income increases.In Figure 7. e. 3, assume that the price of Y (PY) is $1, and that the individual has an income of $100. The initial price of X (PX) is $2, so the individual’s initial budget constraint is therefore BC1, with a vertical intercept of 100, and a horizontal intercept of 50. The individual reaches his optimum (maximizes utility) at point A, where his initial budget constraint BC1 is tangent to the indifference curve IC1. Let’s say that at this point, he maximizes his utility by consuming 17 units of good X.If PX decreases from $2 to $1, his budget constraint will rotate outward until it reaches BC2 where there i s now a horizontal intercept of 100. The individual now reaches his new optimum where the indifference curve IC2 is tangent to BC2 at the point B, where he maximizes his utility by consuming 28 units of good X. Using the same method as described in figure 7. e. 1 and figure 7. e. 2, we can replot A and B on figure 7. e. 3 as A’ and B’ on figure 7. e. 4. If we connect these points together, we will get the ordinary demand curve for good XIn order to obtain the compensated demand curve, we must first observe 2 effects that take place as PX increases: Substitution Effect: when Px decreases from $2 to $1, X becomes relatively cheaper than Y, so the individual will consume more X. To show the substitution effect, we must hold the individual’s utility constant. To do this, we draw a budget constraint BC3 that is parallel to BC2 and shift it down until it is just tangent to a point on his original indifference curve (IC1). This occurs at point C, where the consumer is consuming 33 units of X.The substitution effect is the movement from point A to C Income Effect: Px has decreased, so the individual’s purchasing power has increased, and thus has more money to spend on both X and Y. Because X is an inferior good, the individual will consume less as his income increases. The individual will reach an optimum at point B where he will consume 28 units of X. The income effect is the movement from point C to B To summarize, Total effect = Substitution Effect + Income Effect = A to C +C to B Using the same method as described in figure 7. . 1 and figure 7. e. 2, we can replot A and C on figure 7. e. 3 as A’ and C’ on figure 7. e. 4. If we connect these points together, we will get the compensated demand curve for good X We can prove that good X is an inferior good. One way to do it is to look at Figure 7. e. 3 and notice that between points B and C, as income increases, the consumption of good X decreases, which fits the definition of an inferior good. Another way is to look at the compensated demand curve and compare it with the ordinary demand curve.The compensated demand curve in figure 7. e. 4 is flatter than the ordinary demand curve. When this condition holds, good X is an inferior good. Again, we can also use the compensated demand curve to find the compensating variation. It is the area between the two prices, and left of the compensated demand curve – it is the sum of areas S and T ——————————————————————————————————————————————– †¢ Let us now consider a price decrease for an extreme case: a giffen good.A giffen good violates the law of demand and results in an upward s loping demand curve. In Figure 7. e. 5, assume that the price of Y (PY) is $1, and that the individual has an income of $100. The initial price of X (PX) is $1, so the individual’s initial budget constraint is therefore BC1, with a vertical intercept of 100, and a horizontal intercept of 50. The individual reaches his optimum (maximizes utility) at point A, where his initial budget constraint BC1 is tangent to the indifference curve IC1. Let’s say that at this point, he maximizes his utility by consuming 37 units of good X.If PX decreases from $2 to $1, his budget constraint will rotate outward until it reaches BC2 where there is now a horizontal intercept of 100. The individual now reaches his new optimum where the indifference curve IC2 is tangent to BC2 at the point B, where he maximizes his utility by consuming 30 units of good X. The total consumption of good X has actually decreased; let us decompose this. Using the same method as described in figure 7. e. 1 and figure 7. e. 2, we can replot A and B on figure 7. e. 5 as A’ and B’ on figure 7. e. 6.The shape of the ordinary demand curve for a giffen good is as follows: between the points A and B, it is upward sloping (known as the â€Å"Giffen Range†), and at any price above or below points A and B, respectively, the demand curve is downward sloping. This results in a backward-bending ordinary demand curve W In order to obtain the compensated demand curve, we must first observe 2 effects that take place as PX increases: Substitution Effect: when Px decreases from $2 to $1, X becomes relatively cheaper than Y, so the individual will consume more X. To show the substitution effect, we must hold the individual’s utility constant.To do this, we draw a budget constraint BC3 that is parallel to BC2 and shift it down until it is just tangent to a point on his original indifference curve (IC1). This occurs at point C, where the consumer is consuming 47 units of X. The sub stitution effect is the movement from point A to C Income Effect: Px has decreased, so the individual’s purchasing power has increased, and thus has more money to spend on both X and Y. Because X is a giffen good, the individual will consume less as his income increases; also note that the income effect is stronger than the substitution effect.This results in the individual reaching an optimum at point B where he will consume 30 units of X. The income effect is the movement from point C to B To summarize, Total effect = Substitution Effect + Income Effect = A to C +C to B Using the same method as described in figure 7. e. 1 and figure 7. e. 2, we can replot A and C on figure 7. e. 5 as A’ and C’ on figure 7. e. 6. If we connect these points together, we will get the compensated for good X Note that the compensated demand curve is still downward sloping.This is because the substitution effect always works in one direction, while the income effect can work in both directions Study Questions 1) Redraw figure 7. e. 1 and figure 7. e. 2 for a decrease in the price of a normal good. Shade the area representing the compensation variation. 2) Redraw figure 7. e. 3 and figure 7. e. 4 for an increase in the price of an inferior good. Shade the area representing the compensation variation. 3) Redraw figure 7. e. 5 and figure 7. e. 6 for an increase in the price of a giffen good. Shade the area representing the compensation variation.

History of world migrations-kindle chapter 3 Essay

History of world migrations-kindle chapter 3 - Essay Example In the early modern duration, migrations again connected the continents by the process of colonization and also coerced migration of people or communities. Political issues such as citizen and alien were also introduced during the early modern migration period. Migrations changed pattern during recent history. The nation states together with the transnational federations identified new approaches of controlling individuals who migrated through their borders (Fisher 76). The migration process is illustrated chronologically and at different levels. For example, the migration involving individual communities, to the bigger migration patterns that entails collective movements of the big ethnic groups. The human movement processes involved; emigration, immigration and also migration. Emigration entails human movement away from a given locality like a state. Immigration involves movement into a place or territory like nation or town, Migration is the human movement from one place to another; for example, from one country to another. Migration process contributed directly to the diversity of the human population, because people adapted to different social, physical and natural environments. Human migration has been historically shaped by three factors; polities, environment and technology. Political factors like colonization lead to the migration of Africans to Europe and the Americas as providers of cheap or slave labor (Fisher 73). Technological developm ents in the telecommunication and transport sectors have enhanced movement of people; for example, from rural areas to urban areas in search of economic opportunities. Environmental issues like floods and droughts forced human populations to move to safer areas like the

Great engineering acheivement ( airplanes ) Essay

Great engineering acheivement ( airplanes ) - Essay Example This paper aims at examining the timeline of the development of the airplane, the contribution of various engineers to this achievement and how airplanes have improved lives. In addition, this paper will examine some of the possible future developments on airplanes. The history of the development of the airplane dates back to the late nineteenth century when a German engineer named Otto Lilienthal started to experiment with gliders (National Academy of Engineering, 2014). During the same period, Octave Chanute, an American engineer also experimented with multiple gliders. Through these early experiments, Lilienthal and Chanute demonstrated that it was possible to have a controlled device in floating in air. In 1901, a gasoline-powered version of the tandem-winged aerodrome was built by Samuel Langley. In 1903, the Wilbur Wright and Orville Wright made the first powered and piloted flight in North Carolina. On this day, Wilbur flew for 852 over the ground in about 59 seconds. Ludwig Prandtl, a German professor, presented a paper in 1904 that described the concept of the ‘boundary layer’ (National Academy of Engineering, 2014). This is the molecular layer of air that is found on an aircraft’s wing. This paper was an important contribution in the study of aerodynamics. Eugene Ely piloted a Curtiss biplane on a takeoff from a ship in 1910. The following year, he was able to take off from shore and landed on a ship in California. These early planes required the assistance of the pilot to make them stable and travel in a straight line. The concept of the gyrostabilizer was introduced in 1914 by Lawrence Sperry. The gyrostabilizer was used to stabilize the plane and make it fly in a straight line without the assistance of a pilot. In 1916, Sperry, with the help of his father Elmer, demonstrated the first automatic pilot. Starting 1914 to 1918, many improvements in the structure and control of the airplane were

Utilizing the Internet Essay Example | Topics and Well Written Essays - 250 words

Utilizing the Internet - Essay Example Internet continues to impact my life every time I use it. It offers easy and simple access to a wide range of data and knowledge, at the click of a button. Its relative affordability means that I save a lot on research costs and study expenses such as those incurred when one is forced to visit the library (time saving too) and even subscribe to them for membership. There is also reduced expenditure on purchase of textbooks and reading material and such capital is diverted into other concerns. Apart from introducing me to a vibrant social life through the creation and keeping in touch with friends, the Internet has also enabled me remain an informed member of the society on virtually all topics. It has also enabled me work from home and even plan events without particularly having to go to different places and meet different people (Healey, 2006). Professionally and in organisations, the Internet is useful in the overall business strategy by collapsing time and distance, and thereby enabling electronic commerce. It is also useful in enhancing organisational culture as it encourages free flow of information. In addition, by making networking and virtual corporations a reality, the Internet greatly influences organisational structure. The Internet is also used professionally as tool for information management, sharing and receipting of information (Wiener, 2010). The Internet would apply to my future career in many useful ways. For one, it will be a useful tool for improving services delivery for instance, via online questionnaires, feedbacks, receipt of ideas and trends in customer taste and preferences and even receipt of orders. The Internet will also be useful in boosting the general awareness of the public to the services offered and the quality of the service, thus offering an effective marketing tool in a world where everyone is