Finance Markets and Risk Essay Example | Topics and Well Written Essays - 2500 words

Finance Markets and Risk - Essay Example The intention of this study is systemic risk that is ushered by unforeseen incidents that amplify uncertainty unimaginably and damage the liquidity of the market at a rapid phase. Illiquidity results in â€Å"prices gaps† in respective markets and in the pricing of a particular asset. The related pressure later extends to the liquidity of funding of financial institutions around the world that are assisting those independent markets. Illiquidity in markets sequentially can result in potentially momentous real economic impacts, thus warrant policy action, particularly by central banks. As per IMF (International Monetary Fund), BIS (Bank for International Settlements) and FSB (Financial Standard Board), systemic financial risk is one, which is associated with the peril of risk of disruption to financial services that (a) is happened by a destruction of whole or parts of the financial system and has the probable to have the worst negative outcome for real economy. During Septembe r 2008, AIG borrowed from the Federal Reserve System an $85 billion two-year loan that too at a penalty rate, which has been termed as ever known the rescue of one of the globe’s major insurers. In return for the rescue operation, Fed received a 79.9% of shares in the AIG. At the time, the investment banking arm of AIG witnessed a systemic risk emanating from its credit default swap (CDS) business. The failure of one firm may not impact its rivals as is happening in the most sectors of the economy nor does it result in market failures. However, in the financial sector, there is an impending peril that the breakdown of any major financial market or institution may result in the adverse impacts on the whole financial system more likely. In several associated channels, such systemic risk can be in operation, if there is a mishap in a specific financial institution. All the depositors of a bank will be in panic and will rush to get back their deposits when the depositors lose the ir trust, if a typical bank run occurs. The banking system of a nation as a whole may be in jeopardy if rumour spreads about the fate of the remaining banks of a nation. The bank runs vulnerability can be a reality typically as there will be a maturity mismatch between their assets and liabilities. The banking system might have invested in long-term debts like loans to households and businesses, whereas they might have accepted deposits from their customer on the demand basis. Even a healthy bank may have chance to witness a bank run despite the fact that its assets would have more value than its liabilities, but a credit crunch may occur if there is premature withdrawal of deposits suddenly by bank customers. Thus, even a solvent bank can witness a liquidity crunch, despite the fact that the liquidity issues may mirror concerns about bank’s solvency. However, there are some risk-aversion strategies, which are in place like lender-of-last-resort facilities and deposit insuran ce, which make the possibility of bank run as a mirage. Short-term deposits are available from one bank to another bank through interbank transactions, and this occupies sizeable quantum of their business transactions. However, at times of liquidity crunch, associations between banks may witness jolts to proliferate through the system. For instance, Barclays bank has provided short-term credit to ANZ bank, then, concerns of default by ANZ bank might jeopardise to the stability of Barclays bank. Such similitude vulnerabilities are regarded to be one of the main causes why the alarm can spread between banks in such scenarios. In such situations, inter-banking lending will come to a halt due to

The History Of The Bourdieus Sociology Sociology Essay

The History Of The Bourdieus Sociology Sociology Essay Pierre Bourdieu was born in France in 1930 and died in 2002. He is well known for his works in the field of Sociology, Anthropology and Philosophy. He is best known for his theory of class distinction, which he theorised in his book Distinction: A Social Critique of the Judgement of Taste. Another theory he worked on was the theory of power and practice, where he dealt with subjects such as Symbolic power and habitus.  [1]   In Bourdieus view, agency and structure constantly sustain power, which is created within a culture and can become symbolic. This happens due to what he refers to as habitus. Habitus represents the norms and rules of society which are used to control peoples behaviour and way of thinking. Habitus is the way society becomes deposited in persons in the form of lasting dispositions, or trained capacities and structured propensities to think, feel and act in determinant ways, which then guide them (Navarro, 2006). Society is the one that creates habitus. The patterns developed can be transferred from a context to another and they change given different circumstances or a different period of time. Habitus is not fixed or permanent, and can be changed under unexpected situations or over a long historical period (Navarro, 2006). Free will and structures interact and give rise to habitus. There is no need for conscious thought or deliberate pursuit of coherence. In addition to habitus, Bourdieu talked about the concept of fields. These refer to several social or institutional networks where people can interact with others, thus showing their different kinds of capital and expressing their dispositions. Networks can be represented by relationships formed among people, relationships based on similarities such as: religion, education, culture. Power is not experienced in the same way in all environments; this means that the context a person is in has a big influence on habitus. Different contexts have an influence on the way people react to power. While a person could not be affected by power in one field, the same person could see it as a challenge in a different one. Bourdieu also talked about a concept he called capital. He elaborated on three types of capital, which go beyond material assets: cultural capital, symbolic capital and social capital. These concepts were presented in Bourdieus book Distinction where he argued that society maintains its order by following the rules of language, values, education, thinking or activities. These norms that people follow lead them to accept without thinking the differences present in society, the hierarchies made and the social inequality surrounding them. The three elements: habitus, capital and field play a central role in Bourdieus theory of Practice. These interact with each other forming the actions of people. A persons dispositions, or habitus, her capital and the fields in which she operates form her action repertoire. Social capital is one of the forms of capital mentioned by Bourdieu in his theories. It can refer to the networks of friends a person has, to the networks of the family or acquaintances or even of contacts. Social capital brings befits to a person by exerting preferential treatment towards in group members. Bourdieus economic capital refers to the material possessions of a person, for instance money and property. Having a low economic capital implies not having as many possessions or chances to afford high priced affairs. A high economic capital means a person owns more material possessions and is able to afford luxurious things. However, having a high economic capital does not mean a person is considered from a higher class. What Bourdieu suggests is that economic capital only combined with cultural capital forms the hierarchy of classes. Cultural capital plays an important role in the hierarchy of society. It is used by higher classes as a way to distinguish themselves from lower classes. It is a form of domination that is not based on economic domination. Instead, taste is the primary weapon of differentiation. Focusing on taste preferences instead of material assets became a method to hide inequality while still maintaining a well-defined line between lower and higher classes. Cultural capital is formed by the cultural knowledge and goods a person possesses. This form of capital includes artistic preferences and taste, educational background, aesthetic taste in fashion or furniture, as well as many others. Bourdieus theory of distinction states that cultural capital is represented by: cultivated disposition, which can be verbal facility, the way in which a person expresses herself in a conversation, but it can also be body posture, manners and general behaviour. Other representatives of cultural capital can be material objects that require specialised knowledge to appreciate, such as sculptures or old pieces of art which are not well-known by the general population. In addition to these, he argues that cultural capital is institutionalised, which refers to the educational background of a person. Attending a high ranked University is usually evidence of a higher level of cultural knowledge. Symbolic capital is closely related to cultural capital and symbolic forms and it refers to recognised legitimation by the society. The place a person occupies in society and the way society responds to that becomes symbolic capital. Being recognised as an influential or knowledgeable person offers one a high symbolic capital. It becomes a source of power which can be used by its holder. When this power is utilised by someone, that person exercised symbolic violence. Symbolic violence represents the imposition of a certain way of thinking upon another person. It imposes social order because it is embedded in peoples unconscious, making them follow the dominant or superior persons way of thinking. Bourdieu argues that social origin and cultural capital are the most important. He claims that although social and economic capital are indeed acquired as time passes, both of them depend on the social origins and cultural knowledge of a person. Another topic Bourdieu elaborated on was Social Illusion. He saw reality as being constituted from a number of roles people follow. Everyone engages and follows their own path in life, similar to how a character from a book follows the storyline. The rules and norms society follows add a sense of reality and help the formation of the social illusion. Like a fictional character, a human being has a beginning- his birth, and an end-his death. The beginning is associated with someones cause, reason to be there while the end reminds of his purpose, the role he managed to play. Bourdieu called this sequence of events biographical illusion. There are some attributes that contour the created illusion. The symbolic power of the sate supports these attributes by giving people dates of birth, citizen numbers, grouping them based on nationalities and sex. People often compare life to a story that is being written as time passes. They see it as a journey in which decisions guide the outcome of t he narration. Bourdieu constructed his theories based on real life circumstances that intrigued him. This means the theories can be tested by others as well, by applying them to a personal context. An example of social networks I am part of would constitute my participation in the Rotaract club. This allowed me to interact with other peers, have conversations in which we exchanged knowledge but which also allowed people to show their cultural capital. Being part of the club requires one to pass through a process of admission, which means that it is necessary for one to possess a certain amount of capital to enter. Once in, how you express your dispositions becomes one of the things other members notice first about you. The norms, or habitus, of the group can soon be observed as being different from the patterns developed in other circumstances. These patterns are assimilated by new members in an unconscious way and create a new way of thinking for that person. The objective experiences one has bec ome subjective, interpreted in different ways by everyone. This social network, or field, constitutes one part of my social capital. In addition to this network, being part of a class in high-school, maintaining a group of friends or even being part of my family is considered a part of my social capital. Similar to my capital, is the social capital of one of my friends. However, attending a different school, being part of a different family and having a different group of friends influences the amount of benefits he could gain from being part of a network. Our systems of dispositions might indeed be similar at a superficial level, given that we both come from the same class, in the same society. However, our acquired schemes of thought and perception differ at a deeper level. Institutional education as well as family education influences the most profound cognitive interactions. I received an education focused on science, which gave me a different way to view the world compared to him, whose education was based on art and music. Little differences come from our economic capital. Comparing all of our possessions would lead to the conclusion that the only difference is him owning some musical instruments. However, the value of these instruments, an acoustic and an electrical guitar, does not put him in a different societal class. The differences in hierarchy, as Bourdieu argued, come from the quality and amount of knowledge one possesses, which form our cultural capital. Taste in food, art, music and literature are good indicators of class. Appreciating exotic food is something in common for both me and my friend. The differences would surface when comparing artistic and musical knowledge. I, for instance, cannot read music; neither can I play any instruments. But, playing the guitar is not an indicator of higher glass. Uncommon, more difficult ones, like piano or violin, are the ones that make the true hierarchy distinctions. Yet, one cannot say that cultural and economic capital are not interconnected. For example, if cultural capital is institutionalized, meaning a high ranked university plays a role in defining the hierarchies, a high economic capital is also needed to be able to afford attending the said institution. Moreover, symbolic capital could also surface from this interaction. The majority of society views high ranking universities as something out of their touch, thus, they offer respect and power to people who got in. Having prestige and power usually means being part of more groups, having more interactions with people. This implies that ones social capital is higher. In conclusion, Bourdieus theories covered most of the components of society. These components interact and form subsystems which, glued together, give rise to the unified society. Social illusion gives people reason and a story to continue. With the use of all different forms of capital, people draw boundaries between them, differentiate themselves from the crowd. But still, society maintains the control through habitus, the norms everyone follows unconsciously. And given that humans are social creatures, they need to interact; Bourdieu presented the fields, which represents the subsystem that allows people to express themselves, to show their dispositions and continue playing their role.

Special Topics In Communications :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Communication is defined as creating symbol systems that can be used to exchange and express information and meanings. The different ways that individuals, groups and societies use these expressions to make sense of daily life is know as their culture. Culture itself can be divided into two classifications. Culture spelled with a capital C is usually associated with art such as classical music, opera, ballet and art museums. These examples can also be called â€Å"high culture†. Culture with a lowercase c represents the way people live through fashion, sports, religion, education and history.   Ã‚  Ã‚  Ã‚  Ã‚  Each culture is a different audience. Mass media takes the audience in consideration to provide information that is relevant to them. Media will target people based on age, gender and race to produce programming or text that each will relate to. When the popular teen drama Dawson’s Creek first aired in 1997, I was 17. The program was intended to reach out to my age group on issues that were important to us. For about a year and a half I was a Dawson’s Creek expert, knowing in detail about the characters and the storylines. Soon after high school I grew restless with the show. I realized it no longer appealed to me because I had grown out of the show. The same network has since come out with programs for the college age group that I now watch. Networks know that they must change just as fast as their audience to keep them. There are many types of mass media today that are available to a large number of people on a daily basis. Sources of mass media and mass communications include newspapers, movies, television programs, radio, books and magazines. Of these mediums, the Internet is the fast growing type of mass communication. I first began using America Online in 1999 for chat rooms. I would go in the rooms and talk to people my age that lived in my area. It was a new way to communicate with people about whatever I wanted. I then noticed people using the chat rooms for a source of spreading their ideas about racism, sexism and general malaise. I believe that most output from the Internet is positive. The Internet is a convenient tool for education, news, entertainment, business and personal communication. Although with a resource with large, hate groups are also going to try and spread their message to the masses. Special Topics In Communications :: essays research papers   Ã‚  Ã‚  Ã‚  Ã‚  Communication is defined as creating symbol systems that can be used to exchange and express information and meanings. The different ways that individuals, groups and societies use these expressions to make sense of daily life is know as their culture. Culture itself can be divided into two classifications. Culture spelled with a capital C is usually associated with art such as classical music, opera, ballet and art museums. These examples can also be called â€Å"high culture†. Culture with a lowercase c represents the way people live through fashion, sports, religion, education and history.   Ã‚  Ã‚  Ã‚  Ã‚  Each culture is a different audience. Mass media takes the audience in consideration to provide information that is relevant to them. Media will target people based on age, gender and race to produce programming or text that each will relate to. When the popular teen drama Dawson’s Creek first aired in 1997, I was 17. The program was intended to reach out to my age group on issues that were important to us. For about a year and a half I was a Dawson’s Creek expert, knowing in detail about the characters and the storylines. Soon after high school I grew restless with the show. I realized it no longer appealed to me because I had grown out of the show. The same network has since come out with programs for the college age group that I now watch. Networks know that they must change just as fast as their audience to keep them. There are many types of mass media today that are available to a large number of people on a daily basis. Sources of mass media and mass communications include newspapers, movies, television programs, radio, books and magazines. Of these mediums, the Internet is the fast growing type of mass communication. I first began using America Online in 1999 for chat rooms. I would go in the rooms and talk to people my age that lived in my area. It was a new way to communicate with people about whatever I wanted. I then noticed people using the chat rooms for a source of spreading their ideas about racism, sexism and general malaise. I believe that most output from the Internet is positive. The Internet is a convenient tool for education, news, entertainment, business and personal communication. Although with a resource with large, hate groups are also going to try and spread their message to the masses.

Lady Macbeth is not the main driving force behind King Duncan’s murder Essay

In my opinion, Lady Macbeth is not the main driving force behind King Duncan’s murder. The onus for this heinous deed rests with Macbeth himself, as he would have committed this treacherous act even if Lady Macbeth had not goaded him on. When the witches make their predictions, they told Macbeth that he would be Thane of Cawdor and then later King. I firmly believe that these predictions caused Macbeth to start thinking, and thus started a chain of events that ended up with Duncan being murdered. Macbeth’s reaction to the witches’ prophecy was one of fear and agitation. â€Å"Good sir, why do you start, and seem to fear things that do sound so fair?† says Banquo. I feel that Macbeth fears the prophecy because he had been thinking about becoming King before. Deep inside him, Macbeth had the ambition to become King, and this is exactly what the witches prophesized and it was as if they had read his mind. This must be the reason the witches had chosen Macbeth, and not Banquo or any other Thane in Scotland. The witches’ prophecy ignited his deep dark ambition, and he starts to think about how he will become King. However, the witches cannot be held responsible for Duncan’s murder because Macbeth already did have the thought of being King before. The thought was already in Macbeth’s head, all the witches did was to act as a catalyst in making him pursue his ambition. Macbeth then becomes â€Å"rapt withal† because, I feel, he starts thinking about the different ways he can become King. One of them was to murder Duncan himself, and this must have been the â€Å"horrid image† Macbeth thinks about. Although this image scares him, it stills raises the question of whether Macbeth really is as noble and loyal a Thane as people say he is. If he were such a noble Thane, why would he think about killing his own King? One important point to mention here is that he is already thinking about killing King Duncan without any intervention of Lady Macbeth, who has not even been introduced into the play. However, Macbeth then decides that since he was made Thane of Cawdor without doing anything, he might become King without having to do much either (â€Å"without my stir†). Macbeth decides that if he becomes King it will be because of sheer good luck, not because he did something to try becoming King. I feel that this decision might have been made because he knows that he is one of the most powerful Thane in Scotland and so expects to be made Duncan’s heir to the throne. However, King Duncan names the heir of his throne to be Malcolm, his elder son, who shall be known as the Prince of Cumberland. It is then that Macbeth decides that he must take some action if he ever hopes to be King. â€Å"The Prince of Cumberland-that is a step, on which I must fall down, or else o’erleap For in my way it lies. Stars hide your fires, Let no light see my black and deep desires,† says Macbeth. This is very much a contrast to the decision he had made of doing nothing against Duncan in the previous scene. His loyalty to his King looses out to his ambition. Lady Macbeth is then introduced into the play when Macbeth sends a letter to her, telling her about the strange events that happened that day, perhaps because he knew that his wife would be there to give him the strength he needed to do anything against the King. Lady Macbeth’s first reaction after reading the letter is that Macbeth is too kind and noble to do anything bad to become King. She knows that Macbeth has the ambition, but she also knows that he would be hesitant to do the evil things to achieve his ambitions. â€Å"Art not without ambition, but without the illness that should attend it,† she says. From the first meeting between Lady Macbeth and Macbeth, I can conclude that Lady Macbeth wants to be Queen more than Macbeth wants to be King. Such was her desperation to be Queen that Lady Macbeth was even prepared to call on the evil spirits to make her strong, and she wants to assume masculine qualities â€Å"unsex me here† so that she will not have any womanly weaknesses. She had spoken of pouring her â€Å"valour† into â€Å"Macbeth’s ear, and valour (according to Shakespearean audiences’) is a masculine quality. This would have shocked the audience in the Elizabethan era, because at that time they believed that the universe, the natural world and human society were ordered in one great chain or hierarchy. According to the great chain, women should be weak, and their husbands should rule all wives. However, in this scene, Lady Macbeth is shown to have a lot of mettle, and has a power over her husband. She tells him that people can see right through him. â€Å"Your face, my Thane, is a book where men May read strange matters†. She then tells him to disguise his real thoughts and deceive people into believing something. â€Å"Look like th’ innocent flower, But be the serpent under’t.† Macbeth’s will to murder Duncan wavers because he starts to list the reasons for why he should not stray onto the path of evil. He fears judgment from God and his conscience will haunt him for his entire life. â€Å"Bloody instructions, which being taught return To plague th’ inventor†. He then says that he is Duncan’s â€Å"kinsman and his subject† and should protect Duncan since he is his host, and not â€Å"bear the knife myself.† He says that Duncan is a good, kind and virtuous King and the only thing driving him towards Duncan’s murder is his â€Å"vaulting ambition.† (Macbeth is shown here as being a tragic hero, an otherwise noble and virtuous character who falls due to one particular flaw, ambition. There are many other Shakespearean plays with tragic heroes, such as Othello, which tells a story of a man destroyed by jealousy.) When his wife arrives Macbeth tells her that he will not murder Duncan. (â€Å"We will proceed no further in this business†) This depicts Macbeth’s confused state of mind and his vacillation whether or not to assassinate Duncan. Here, Lady Macbeth shows her deep resolve and when she persuades and manipulates Macbeth into killing Duncan. She accuses him of cowardice and lack of love for her. â€Å"And live a coward in thine own esteem.† She claims that he was drunk when he promised her he would kill Duncan (although nowhere has the audience actually seen Macbeth promise this). She even says that she would dash the brains of her very own child if she had promised to, and so Macbeth should also be loyal to his promise. â€Å"Have plucked my nipple from his boneless gums, And dashed the brains out, had I sworn as you Have done this† These words from Lady Macbeth suggest that she is less moral than Macbeth and even evil. While she sees nothing wrong in Duncan’s murder, Macbeth, despite his deep ambition, fears the consequences of his immoral deeds. Another reason for not killing Duncan was because he was afraid of getting caught, and not because he wished to remain loyal. Getting caught would jeopardize his chances of becoming King forever. â€Å"If we should fail?† is what he asks Lady Macbeth. After Lady Macbeth formulates a plan, which impresses Macbeth and he says â€Å"Bring forth men-children only.† Macbeth is convinced that this plan was foolproof, and he succumbs to his ambition and proceeds to murder Duncan. This reveals that he wanted to kill Duncan all along, and was just waiting for the right opportunity to present itself. The moment Lady Macbeth came up with a plan, he readily agreed. Lady Macbeth believed that this was the time to murder Duncan without getting caught, and this is what she made Macbeth believe. If Lady Macbeth had not been there Macbeth would has probably stuck to his decision of not killing Duncan at that time but he would have killed Duncan later. He says this in the end of the scene- â€Å"I am settled and bend up each corporal agent to this terrible feat.† He even starts making plans of what to do with the daggers after he murders Duncan- â€Å"When we mark with blood those sleepy two.† Fate was also playing its hand at making Macbeth feel that it was his destiny to kill Duncan when Macbeth starts hallucinating and sees a dagger, leading him to Duncan’s room. (â€Å"Is this dagger which I see before me?†) It shows that fate also played its role in trying to push Macbeth into murdering his King. Later, Act Two Scene Two we see Lady Macbeth waiting for Macbeth, who has left to murder Duncan. It is then when she says that she would have killed Duncan herself if he hadn’t looked like her father sleeping. Lady Macbeth did not have the courage to kill someone who looked like her father. â€Å"Had he not resembled my father as he slept, I had done’t,† says Lady Macbeth. This tells us that she is not as brave and courageous as she made herself sound before, and still had some womanly weaknesses. This would have made Elizabethan audiences feel that although Lady Macbeth is evil and is stronger than her husband in some aspects, she is still the dutiful daughter she should be. This father-daughter relationship was considered very important at that time, and they were also very important in Shakespearean plays. There are many other examples of father daughter relationships in other plays written by Shakespeare, such as Othello and King Lear. When Macbeth arrives after killing Duncan he starts wavering again, he was worried about the consequences of him murdering murder. He was afraid of being judged by God for the evil he had done. Macbeth deeply regrets killing Duncan, and this was his immediate reaction, so he probably never wanted to. This is shown when Macbeth hears the Thanes knocking on Duncan’s bedroom door- â€Å"Wake Duncan with thy knocking. I would thou couldst.† There is also a marked contrast between the reaction of Lady Macbeth and Macbeth once they both have Duncan’s blood on their hands. Macbeth starts going mad with guilt from the sight of the blood, while Lady Macbeth just tells him to wash it off, as if nothing happened. She said that â€Å"My hands are of your colour; but I shame To wear a heart so white.† From the murder onwards all the devious plots and plans were made by Macbeth and not Lady Macbeth. He is the one who kills Banquo, because he knows that Banquo suspects him of foul play. (â€Å"To be thus is nothing, But to be safely thus.†). This shows that Macbeth is also quite evil and black hearted and will do anything to be King. From the murder onwards Macbeth is the real driving force and not Lady Macbeth. In conclusion the final responsibility for his actions rests with Macbeth himself. The witches’ predictions did stroke his ambition and Lady Macbeth egged him on to commit acts of perfidy. However Macbeth always had a choice. Witches had predicted that Banquo’s sons would be Kings. Banquo chose to do nothing- leaving matters to fate. Macbeth became Thane of Cawdor by being a loyal subject and he could have chosen to remain so until his destiny ordained him King. He could have easily said that since he was destined to be King it would somehow happen anyway. Instead he chose to murder his King and arranged to kill his best friend. His ambition drives him to rule as a tyrant, and he chose to abandon his former path of duty and honour – which ultimately leads to his downfall and tragic end.   

Are Teachers Born or Made? Essay

MARKET MODEL is the classification of market meaning, it has more buyers and sellers . Charles Darwin an English nationalist, once said that in the struggle for survival, the fittest win out, on the expense of their rivals because they have succeeded in adapting themselves best to their environment. This means competition is much more intense in the business, market place where different people compete with each other in order to emerge on the top and make more profits. This essay will discuss monopolistic competition which is the market structure in which there is a relatively large number of producers offering the similar but differentiated products. (Roger Leroy Miller 2000) in businesses competition is important where different people like in the question, (Chinese and Indians ) compete with each other in order to emerge on the top and make more profits. this essay will discuss monopolistic and its associated benefits . Firstly each of the entry and exodus (Roger Leroy miller) fo r any †¦..element monopolistic competitor , potential competition is always in the background, since sellers in monopolistic competition worry of losing business. This type of market helps firms to enter and exit a particular firm without facing problems. The entry and exit of a firms helps to sustain completion since the entry firms can come with new ideologies that can sustain business of the country. Entry increases the number of products from which customers can choose hence reducing the demand faced by each †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Already in the market (N. Gregory , Malawi 2001) consequently when firms are making loss, firms in the market has †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. To exit . as firms exit customers have fewer products from which to chose. Secondly, product differentiation: each firm produces a product that is at least slightly different from the other firms, i.e. rather than a price taker, each faces a downward sloping demand curve. (N. Gregory, Malawi 2001) Monopolistically competitive firms turn out variations of a particular product, i.e. they produce product with slightly different physical characteristics (McConnell Bruce 2008) for example Chinese goods are slightly different from Indians, goods like luxury goods are clothes and shoes . Firstly number of firms, each firm has small percentage of the local market and limited †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Over market t price. The presence large number of firms ensures that collusion by group of forms to restrict output and set prices is unlikely (McConnell Bruce 2008) independent action with numerous firms in an industry. Create no feeling of independence among them. Each firm can determine its own pricing policy without considering the possible reaction of rival firms. With so many sellers, each seller has a relatively small share of the total market (McConnell Bruce 2008) this makes the circulation of money very easily as no one will regard other person having more money than him. Example can be of chinese and Indians. However monopolistic competition has many benefits that can contribute to the development of the country. The following are some of the benefits . To begin with, it fosters innovation. Competition in business facilitates sellers to sell new things that change the lives of people. For instance, they sell goods like torches, radios that can soften the lives of people at the same time lead to the development of the country. Further more, availability of resources. Whenever there is competition the resource availability take place. The availability of goods and services creates economic growth that can lead to unlimited wants of consumers hence leads to the development of the country. I.e. if resource are available, it lead the country to develop, since the activities like infrastructures occur.

Essay on Monday Morning Essays

Essay on Monday Morning Essays Essay on Monday Morning Essay Essay on Monday Morning Essay My Monday Morning On paper, my work experience placement sounded great. I would be sitting in on interviews, answering telephones and various other things that will keep me not only occupied but also interested for a whole week. Nevertheless, as the rain pounded on the car windscreen, a grave feeling bubbled in the darkest pit of my stomach. What ifs? dominated my thoughts. What if they dont like me? What if all I do is make coffee? What if I wasnt as good as expectations? I even worried about what to wear. Mum bravely marched around Watford shopping centre with me the previous Saturday, but the trip was pretty much in vain. Claire and I took a deep breath and stepped out of my mums car. Claire, a friend from school, was working in Marks and Spencers, which was opposite my work experience placement at Office Angels. I felt as though I was lucky, I could barely stand five minutes in Marks and Sparks, let alone a week. I said good-bye to Claire and arranged to meet her for lunch at a nearby cafi. The narrow staircase up to the office felt almost like the green mile. I climbed all the way to the top, but I saw no signs for Office Angels. I walked into the nearest office and asked were it was. Clumsily I had walked straight passed the desired door on the first floor. I walked in shaking slightly. Oblivious of where to go, I stood aimlessly in the doorway. A tall blond woman stood up and greeted me she introduced herself as Sarah. I explained who I was and her expression turned cheery. I was quickly introduced to the rest of the six staff; Kes, my supervisor and branch manager; Stacy, the new girl; Kerry, the permanent placement consultant who always seemed to be giving me evil glances down her particularly large nose; Andrew, the temporary (or temps) placement consultant; and Heather, the general consultant. I was then quickly shown the kitchen, fire exit and meeting point. I was then immediately shown a huge mountain of papers, it almost reached the low ceiling of the office! These are the files that contain everyone that we work with, as you can see there is a file for each letter of the alphabet. Now we have been saving you these, (pointing to the mountain) I would expect that it would take you till the end of the day. Said Sarah. I stood there dumbstruck looking at her, hoping that it was some sort of joke. I could barely reach the top. I would need mountain climbing equipment if anything else were to be put on top. You can use that little desk there in the corner, we dont want you hurting your back. The small desk was about half the size of an average school desk, it had a small chair that was definitely looking as though it was on its last legs, facing a grey wall, but the table was the least of my problems as I watched the mountain of paper tremble. I sat at the table and felt as thought I was a dunce who had been forced into the corner with extra homework! Where on Earth am I going to start? I thought. So I sat on the carpet where there was space and started a pile for the people with surnames beginning with A, B, C, D I took up most of the space around Kes desk. I had to lean over the papers, after a while my back began a steady throb. I couldnt believe it, it suddenly dawned on me, I wasnt going to be answering phone, or sitting in on interviews. I was going to be the office dogsbody, doing all the jobs no-one else wanted to do, they were using work experience as an excuse to use child labour! I left for lunch at 1 Oclock in a foul mood, I still had a great deal of filing still to do. I really wanted to know if Claire had done any better. I searched high and low, I went into to Marks and Spencer, but she was no-where to be seen. So now I couldnt have a good old moan with her! I bought a sandwich and went back to the small kitchen at Office Angles. Alone, I read the local paper absentmindedly. The afternoon was much like the morning, but I made more coffee! Nothing changed as the days went on. I filed a bit more; filed on the computer; filed filing cabinets; was told I had been told to file the wrong things; and filed in the storeroom! I loathed the storeroom the most. Not only was it hot, but it was so secluded, I couldnt even watch the array of people that floated in and out of the office. Files would fall on my head and the dust would set into my clothes. I had never been so bored. Maths was beginning to sound more interesting! Claire was doing no better; she was stacking shelves and folding clothes. Like me, every time she tried to strike up a conversation, she was interrupted by phone calls, clients or other members of staff. Every day when we were going home we both contemplated never going back. Finally Friday, the last day came. I knew that today would be a bit more enjoyable. As part as the company marketing program, the company would offer the temps a packed lunch. I was sent off to Marks and Spencers straight away. I was given instructions to buy 60 sandwiches. I practically cleared the shelves! I was frequently given snide remarks and queried looks. Luckily Claire was there to help me, all those sandwiches filled a shopping trolley. The four large bags containing the sandwiches ripped and dug into my hands as I carried them up the now-familiar staircase. I spent the rest of the morning preparing lunches. Then it was time for the road trip. Heather and I stumbled along Hemel Hempstead High Street, heavily laden with Marks and Spencer bags. It seemed miles before we got to Heathers little Volkswagen. As I stepped into the car I was overwhelmed by the stench of cigarettes. This was not surprising, all the girls in the office were heavy smokers. I felt sick, and did do for the rest of the trip around the industrial estate. Whilst Heather got out of the car to go inside the grand office buildings and deliver the lunches, I opened the side window desperately to try and get some fresh air! The industrial estate in Hemel Hempstead is very vast. We got lost several times, and passed the very last building we wanted more than once, whilst we put together what little navigational skills we had. Finally it was time for us to return to the office. With no more lunches left to deliver, Heather was left free to light up one of her foul cigarettes. She took one long, pleasurable, swig and offered me one. I had to try hard not to turn up my nose in disgust as the fumes started to fill the car. Instead, I told her a story I had read about lung cancer and what happens when you get it, I did not spare any gruesome detail. Heather gave me a quizzical look and flung the cigarette out of the open window! So what did you learn from work experience? Mr Powell asked apprehensively. Mr Powell, my deputy head of house at school had taken a handful of my class into a nearby geography room. Some exhaled deeply, others all of a sudden perked up, which was almost unheard of from most teenagers on Monday mornings! We all waited for our turn to describe our week excitedly, or moan excessively. I wasnt the only one who felt was cheated out of an experience. When I think back, I dont think I learnt much at all. From all the filing, I now know the alphabet back to front, and how to make various types of coffee and tea, but that will not help me in the future. I now realise that I cannot just leave school without anything, or face having to be the coffee girl or file girl again. I am going to try so much harder, I cant afford to rely upon my terrible memory, I am going to have to sit down and do the most mind-numbing pastime known to teenagers, I am going to revise!

Cry The Beloved Country Essays (703 words) - Cry, Free Essays

Cry The Beloved Country Essays (703 words) - Cry, Free Essays Cry The Beloved Country 1. This of course is an ever-popular book report book because it is so essential. That is why I chose it. 2. Stephen Kumalos village of Ndotsheni, on the east coast of Africa, is the setting of this novel. 3. Cry the beloved country, by Alan Paton, is a book which tells the story of how James Jarvis, a wealthy estate owner who, because of his own busy life, had to learn of the social degradation in South Africa through the death of his only son. If Arthur Jarvis had never been killed, James Jarvis would never have been educated by his sons writings. One of the first things that James learns of his son, and his views, he learns in Arthurs' room. In reading his writings, James finds that Arthur would have risked anything to help other people, and ended up doing just that. James finds that his son was well researched on the problems of their society, and was interested in helping the development of the social structure in South Africa. From the pictures of Jesus and Lincoln on his wall, James discovered the admiration Arthur had for these two men. These were men of action, who showed love for their friends, and at the same time, their enemies. These two men suffered and died for their beliefs, as did Arthur in a way, this is showing Arthurs' father what a great man his son was by comparison, and similarity to others. This revelation shows Arthurs concern for humanity. After the discovery of his sons views through all of his writings, James begins to realize the problem, and starts to think of the problems of others before his own. Following his sons Death and the acquaintance of Stephen, James donates 1000 pounds to the African boys club. Jarvis is not just giving gifts in memory of his son, or just to give, but giving those who need help ways to help themselves. When James gave the money to the club, he didn't just decide to give it to them, but knew that if he gave it, the club would use it to improve the countrys condition. In all of his donations, James uses t his subtle method to emancipate the blacks. Using his sons views again, James decides to do something about Kumalos' village, which is falling apart. This task is a fairly large one. He first provides milk for the village kids, who only have warm water to drink, and then he builds a church. The rain in Ndotsheni is a bit of foreshadowing of hope for The village, and maybe of what is to come. Through James' education, we learn the similarities between Mr. Jarvis and Kumalo. When we first meet Jarvis, the setting is much the same as when we met Stephen. They both live in the farming areas of South Africa, and they share the love for the land, and what is in their lives. They each are married with one son who they know nothing about, and both are forced to come to terms with the guilt of the whites by the same occurrence. After they both lose their sons, they have a need to understand them, although all that is left are the memories. They each learn of the problems in South Africa Thro ugh their sons, and after the realization, they both try to do Something to improve the social, and racial differences which plague Johannesburg. 4. Stephen Kumalo is a native priest who attempts to reconstruct the disintegrating tribe and his own family. He gains a great awareness of many facets of life by going on a journey. He is a humble person. James Jarvis is a wealthy landowner whose son is murdered. Msimangu is a parish priest in the city who unselfishly helps Stephen, and who wrote Kumalo about Gertrudes plight. 5. I would have better explained the title. 6. When the son dies, because it was so dramatic. 7. This book is about human nature. How racial views can affect other people in different ways. 8. I would cast Sean Connery as Kamulo, Matt Damon as Msimangu, and Scrooge as James Jarvis. 9. The Beloved Country 10. 8