Consumers' surplus Essay Example | Topics and Well Written Essays - 1250 words

Buyers' overflow - Essay Example The principal significant understanding that understudies acquire from the investigation of microeconomics is the hypothesis of interest and flexibly. In any case, the interest is the eagerness and capacity of people of shoppers to gain certain merchandise and enterprises. In this manner, when costs increment (expecting determinants of interest consistent) the amount requested declines and the other way around, along these lines bringing about a descending slanting interest bend because of negative cost †amount relationship. Interestingly, the gracefully alludes to eagerness and capacity of merchants to deliver and sell certain merchandise and ventures. Consequently, when costs increment (expecting determinants of flexibly consistent) the amount provided additionally builds due to increment in overall revenue of makers and the other way around. In straightforward words, the flexibly bend slants upward because of positive cost †amount relationship. In this paper, I would exp lain on Consumer Surplus †a hypothesis contributed by Alfred Marshall in 1920s (and determined by utilizing the descending slanting interest bend) that at first got different genuine analysis by then financial analysts and academicians. Dooley (1983, p. 26) has summed up the accompanying significant reactions raised around then - â€Å"First, regardless of whether an added substance utility capacity enough clarifies buyer conduct; second, whether the peripheral utility of cash can be treated as a steady; third, whether the amount requested of one product can be treated as a component of its value alone; and fourth, whether it is conceivable make relational comparisons†. The specialist will initially clarify what Consumer Surplus hypothesis is after which an investigation will be introduced on the believability of this hypothesis. The scientist will finish up this paper by giving a sincere belief and will at long last give 2 suggestions to the market analysts and savants. 2. Investigation/Body Consumer Surplus is an idea concentrated in microeconomics and it alludes to the estimation of purchaser utility. In basic words, buyer surplus is the excess segment determined by taking away the greatest value purchaser needs to pay for procuring a decent or administration with the balance advertise cost. This could likewise be characterized as the contrast between the real followed through on advertise cost and the most significant expense at which request of an item exists. As represented in Figure 1, the harmony amount and cost are P1 and Q1 individually; in any case, the interest of an item additionally exists at more significant expenses. In this way, the blue part speaks to buyer overflow. Figure 1 In request to completely understand the hypothesis of Consumer Surplus, I might want to introduce a case of interest of DVDs (computer games) comparative with their cost. For this situation, let us consider that aâ consumer enters in a Computer shop to purch ase computer games. The shopper purchases 10 DVDs of $50 altogether yet he is slanted to pay $95 for one DVD so the consumer’s surplus for 1 unit will be $45, for 2 units will be $40, for 4 units will be $30, for 6 units will be $20, for 8 units will be $10 and for ninth unit will be $5 as it were. The figure 2 shows the purchaser surplus in green, which is beneath the market request bend or more the balance advertise cost. Figure 2 Samuelson and Nordhaus (2005, p. 96) features the accompanying: â€Å"Consumer Surplus is the hole between the complete utility of a decent and its all out market value†

Why At-Risk Students Are in Such a Situation, Solutions Research Paper

Why At-Risk Students Are in Such a Situation, Solutions - Research Paper Example The issues open understudies to serious conditions that cause them to end school, information obtaining and assisting their vocations. This most recent pattern is imparting blended signs to the world in with researchers declaring that it might prompt a low flexibly of qualified human capital. This condition may likewise risk development and imagination slowing down the creation of new things that meet the current mechanical needs of buyers. The researchers additionally state that a high number of understudies who are not succeeding scholastically may open society to horror rates. This is on the grounds that countries will create a few people who are not beneficial financially because of the absence of believable wellsprings of pay. The pattern would likewise influence harmony activities and general financial development in different countries. This requires the quick advancement of a suitable arrangement to moderate issues that obstruct understudies from accomplishing high scholarly accomplishments. These understudies need to get legitimate vocation direction and inspiration from instructors. They additionally should be persuaded to go to class and get significant lessons on the advantages of instruction in their lives by key partners in the training segment. Thus, it is important to talk about difficulties in the instruction area while concentrating on in danger. As substantiated by Lynn (1997), the quantity of understudies who are not effective scholastically is expanding. The expansion is inferable from different intricacies that address social, financial, and political procedures. These difficulties hamper the ability to record model execution in various angles. Right off the bat, neediness is a basic component that drives most students from school implying that few understudies are performing horridly in light of the fact that they need cash to pay for their educational cost costs.

SIPA Alumus Comments on Iranian Election COLUMBIA UNIVERSITY - SIPA Admissions Blog

SIPA Alumus Comments on Iranian Election COLUMBIA UNIVERSITY - SIPA Admissions Blog Recent subscribers to this blog may not be aware of another great blog The Morningside Post (TMP).   TMP is a SIPA student blog and they have great articles on a wide variety of topics. A great example is TMP coverage of the election in Iran.   SIPA alumnus Matteen Makolla is an Iranian-American who is currently writing a book on his travels in Iran.   TMP recent posed five questions for him.   To gain insight on the following question and others, click here for the full entry entry. How should Obama respond to the protests? How can he and other Western leaders avoid poisoning the opposition with the appearance of Western backing? Photo Credit to TMP

Information Security And Risk Assessment Model - 1386 Words

Theories and Theorists Ram Gutta Walden University Abstract People, process, and technology are the main pillars for Information Security framework. Security controls are designed on the fundamental principles of confidentiality, integrity and availability. The orchestration between people, process and technology provides control mechanism and helps in mitigation or reduction of risk for critical assets. Any failure with security orchestration can expose the systems for vulnerabilities and attacks. It is evident from recent data breaches from security incidents that failure of people who are behind the security controls is the number one reason behind process and technology. Theories and Theorists I have identified two theories in Information Security and Risk Management; one is the Information Systems Security Risk Assessment Model Under the Dempster-Shafer Theory of Belief Functions, by Lili Sun, Rajendra, Srivastava.P, and Theodore J. Mock. The second theory is Motivating IS security compliance: Insights from Habit and Protection Motivation Theory, by Anthony Vance, Mikko Siponen, Seppo Pahnila (2010) Theory-1 An Information Systems Security Risk Assessment Model Under the Dempster-Shafer Theory of Belief Functions, by Lili Sun, Rajendra, Srivastava.P, and Theodore J. Mock . The authors of this article has presented the theory of â€Å"Evidential reasoning† under the Dempster Belief Functions†, as an alternative to the traditional risk assessmentShow MoreRelatedApproaches to Risk Analysis Essay912 Words   |  4 Pagesespecially an information security project, risk analysis is very important. Risk analysis, in the context of information security, is the process of assessing potential threats to an organization and the overall risk they pose to the continued operation of the organization. There are multiple approaches to risk analysis, and multitudes of literature have been published on the subject. In their paper published in 2012, Bhattacharjee and associates introduced two approaches to the risk assessment of an informationRead MoreRecommendation to Mitigate the Lac of InfoSec Policy964 Words   |  4 Pagessuggest that we use the Gartner Information Security Governance Model to assess the security problem of Inventure Foods, Inc. The Gartner Information Security Governance Model is most suitable for Inventure Foods type of business. It protects the information resources appropriately and efficiently given the company’s limited resources and overstretched personnel. The most important reason why we choose the Gartner Model is that it provides the blueprint for a complete security program and tells managementRead MoreCis 502 Technical Paper Week 10 Assignment Risk Assessment897 Words   |  4 Pages502 Technical Paper Week 10 Assignment Risk Assessment http://homeworkfy.com/downloads/cis-502-technical-paper-week-10-assignment-risk-assessment/ To Get this Tutorial Copy Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) CIS 502 Technical Paper – Week 10 Assignment Risk Assessment CIS 502 Week 10 Technical Paper Technical Paper: Risk Assessment Global Finance, Inc. Internet OC193Read MoreFinancial Services Of Modernization Act Of 19991410 Words   |  6 Pagesmoney, security and insurance agencies were expelled and not permitted to offer financial services as a part of general operations. It does not permit the combination of investment, commercial bank and an insurance company. Summarize the main idea of BITS Shared Assessment Program The BITS Shared Assessment Program is created by major money related partnerships to ingrain speed, efficiency, cost savings, consistency and institutionalization into the administration supplier assessment processRead MoreA Evolving Information Assurance Landscape764 Words   |  4 Pages1. INTRODUCTION: In a constantly evolving information assurance landscape, it has become increasingly challenging for organizations to protect their information resources. The changing ecosystem in which industries operates, adoption of new technologies by organizations, integration of IT into organization’s core business processes, and substantial increase in the use of internet based services by consumers for daily activities like banking, communications, online shopping etc., pose new threatsRead MoreThe Importance Of IT Security967 Words   |  4 PagesIT security IT security also know as computer security or cyber security or Infosec, is the process of protecting a computer system from the different types of theft or different types of damages to the hardware, software or data stored in that system as well as from the interference or alteration of the services provided by the system. CIA triad’s core objectives are considered for IT security programs: keeping the confidentiality, integrity and availability secure of IT system and company dataRead MoreRecommendation For Current It Security Policy794 Words   |  4 PagesCurrent IT Security Policy The systems approach to problem solving is used to analyze and identify mediatory provisions, see figure 2, Appendix D, Systems Approach to Problem Solving. Loss suffered in the Societe Generale Bank security breach was substantial because the perpetrator knew where to look to acquire access to financial information and circumvent existing security measures. This defined fraudulent behavior and solidified criteria for productive countermeasures. Prevention and risk managementRead MoreRisk Management Within The Homeland Security1115 Words   |  5 Pages Risk management within the homeland security Dustin S. Smith American Military University Abstract The department of homeland security uses an equation that will assess our economy, actions, public affairs, natural occurrences, consequences, threat, and vulnerability of threats. The component itself can be quite complex and problems exist in components through risk measures. The performance of modern technology depends on combinations of specific systems that are affectedRead MoreThe Basic Components Of A Public Key Infrastructure1107 Words   |  5 Pages. Public Key Infrastructure (PKI) provides the framework services, technology, protocols, and standards that manage strong information security systems. Without a public key infrastructure, public key technology is not generally suitable for large-scale enterprise deployment. The purpose of a public-key infrastructure is to manage keys and certificates, which are used for documentation, entitlements, authentication, and confidentiality. Through managing keys and certificates, an organizationRead MoreModelling Of Scada Netw orks By Implementing The Dbsy Modelling Method, And Risk Assessment997 Words   |  4 PagesADVISORS: DR. PAVOL ZAVARSKY SHIREESHA KATAM {skatam@student.concordia.ab.ca}- ID: 130526 DECEMBER 03, 2014 1 Research Statement This research proposal is focused on modelling of SCADA networks by implementing the DBSy modelling method, and risk assessment. 2 Problem Statement SCADA and ICS are the Critical Infrastructures, Which Operates a number of significant resources including fuel, energy, water, airports, and biotech and run many day-day utilities and services requirements [1]. This systems

The Civil War The United States - 1622 Words

The Civil War divided the United States with its’ origin in the struggle to preserve the Union from the Confederacy’s succession. A war to maintain the United States quickly progressed to battles fought because of the controversial beliefs on slavery in the North and South. In the coming of the Civil War there were questions and confusion that many Americans were faced with in the words of the South’s succession. During the war, families were torn due to the men lost to the Union or Confederate causes. At the resolution of the Civil War, Southern states were forced to reshape their economies that were once dependent on slave labor. What are referred to as two communities in the Civil War, on the boarder between opposing forces, the people†¦show more content†¦Finally, with the emancipation of slaves in 1863, the people of Augusta County had to reshape their economy with the introduction of thousands of newly freed slaves. The economy in Augusta County de pended on the slave industry prior to the Civil War through the selling of slaves to fellow slave states. Slavery in the United States can be traced back to the 1600s in New England, Chesapeake, and the Carolinas as a dynamic institution. After the emancipation of the Atlantic Slave Trade, slavery gradually began to disappear in the Northern states and was isolated in the Southern states. Because there was no other way of trading slaves throughout the South, the states began to sell slaves to slave owners in other states. â€Å"Slavery provided the economic backbone for Augusta’s farms† (Torget and Ayers 3). About a quarter of the families in the county owned at least one slave who worked their fields. According to the population statistics for 1860, out of Augusta’s total population of 27,749, 5,616 people were enslaved (â€Å"Population Statistics for 1860† 291). Much of Augusta’s income relied on the selling and trading of slaves. A slave from A ugusta County, Mary Perkins, writes to her husband Richard about the sale of their son and of how she and her second child are also now for sale. â€Å"My master has sold Albert to a trader on Monday. I want you to tell Dr. Hamelton or your master if either will buy me†

Fast and Feast Free Essays

Wednesday, I was appreciative and prayed like I said I would. When I found that I was appreciative I Just said a small thank you to God and I was proud of all the feasting that I had done. However, I found that even though I was appreciative I was still complaining. We will write a custom essay sample on Fast and Feast or any similar topic only for you Order Now One of the things we, as Christians, are asked to do during Lent is make a sacrifice that will help us focus on resisting worldly distractions. Although complaining is not what you would normally think of as a worldly distraction such as TV or the computer, it still distracts me from God. During the first two days I realized that I had to balance my appreciation and complaining. I could not focus wholly on one or else I would forget about the other. On both Thursday and Friday of that week I tried my best to concentrate on both my feasting and fasting and learned by the end how to keep from complaining but also appreciate everything I am given and all the opportunities I have. One of these spoken opportunities was the chance to go on the Mid-night Run. It was very fitting that this was the last day of my five-day fasting/ feasting project because I feel like I was most appreciative during this day. All the people on the Mid-night Run went into NY City and handed out clothes and food to the homeless. At first I tried to be impartial to the whole matter because I did not want to cry in the middle of a city street. However, as the people started coming more and more I found myself feeling so sorry for them. I said a quick prayer in my head for them and that wherever they would sleep would be warm since it was so cold outside. What really affected me was when a small woman came over and asked If we had any underwear. This In particular blew my mind; I then realized how bad they must have It If a woman has to beg for underwear. Even though the five-day fasting/ feasting project is over I still try not to complain. When I do, I think of how fortunate I am in comparison to all those people out there who wish for half the life I have. Dying to ourselves, letting go of our own wants and needs, leaves us open to invite God in, to pay attention to something other than ourselves. This experience has made me more aware of all the joy that I deprived myself of. When I stopped myself from complaining, I realized how much better I felt. I felt as if I had made the whole situation better for myself and I did. When I stopped complaining, I subsequently stopped petty arguments and cruel or annoyed moods. Once I stopped I found yeses in a better mood altogether and I think It also rubbed off on the people around me. Overall, letting go of my own wants and needs, gave everyone an Improved attitude and allowed for more room to let God In. By not complaining I have a whole part of my life that essentially cut of. This part has now been filled with my appreciation and God. By separating myself from complaining I can turn to God and appreciative and happy I bring on that sense of fulfillment to other people. For Catholics, â€Å"dying to ourselves, we enter some way or another into Chrism’s dying and we rise to new life with Him as well. † (TM p. 9) The new life I have been brought is one of acceptance and appreciation. As I moved through the week, I found that as I complained less, I became more and more relax as well. The complaining, when I was unable to stop myself, bothered me more than I think it bothered my parents. I found that I started to enjoy myself more as I acce pted events around me. I knew I could not change that fact that it was cold outside so I accepted it for what it was and appreciated that I had clothes to keep me warm. By living this new life that was one of acceptance and appreciation I feel as if I have also opened up a new relationship tit God. I am closer to my ultimate vocation, union with God, after having been brought this new life through my fasting/feasting project. The overall purpose of Lent is to prepare for Easter and prepare to celebrate new life with the Resurrection. It is also a period of intense preparation for catchments to enter the church. During this preparation, Christians focus on living the Kingdom of God more intensely than they do during the rest of the year. This fasting is not only a literal fast from eating, but also a chance to make a sacrifice that will help us Ochs on resisting worldly distractions. This is self-discipline and also an opportunity to make more room for God and to move closer to him. When we fast together as a community, it is the whole church community opening themselves up to God together. My experience over the last five days has helped me live out the purpose of Lent by exposing me to the deeper meaning of the fast. Instead of Just giving up candy or chips, I have given up a part of my life that has only brought me down, and opened myself up to happiness, fulfillment, acceptance, appreciation, and a closer relationship with God. How to cite Fast and Feast, Papers

Significant Risks in the Expansion of the Panama Canal and Risk management methods

Introduction Discovering of Panama’s pacific coast by Vasco Nunez de balboa in 1513, empire builders and merchants saw the need to have a shortcut for ships to sail from the Atlantic to the Pacific oceans. This would save them the 12,000 miles long journey they have to take around South America. Several visionaries tried in the next two centuries to advocate for the channel creation. Simon Bolivar, a revolutionary, hired architects and engineers to plot a viable route for the canal after independence.Advertising We will write a custom research paper sample on Significant Risks in the Expansion of the Panama Canal and Risk management methods specifically for you for only $16.05 $11/page Learn More Col. Charles Biddle of the U.S army sent by President Andrew Jackson in 1835 confirmed the impracticality of the Panama Canal project (DuTemple, 2003, p. 12). However, over the next years several speculators came up with possible canal building schemes. T heodore Roosevelt, the president opted to ensure us naval power domination in the two oceans by building the canal. This is because of the long time it took naval ships to the Caribbean from San Francisco during the brink of war with Spain. In 1903, the independent state of Panama gave U.S. a nod to start the construction. Several risks challenges came at the beginning of the project like yellow fever that was overcome (DuTemple, 2003, p. 7). The canal was completed in 1913 and opened in 1914. The canal is a viable commercial project and its expansion is set to be complete by 2015. Panama Canal expansion risks and risk management methods Panamax project is a large infrastructure project in terms of the resources involved and the amount of work at hand hence it involves various risks. Therefore, formal risk management methods are vital in a project of its magnitude thus the need to know the enterprise risks involved (Kendrick, 2003, p. 2). Such is a combination of natural environment al risks, operational and financial risks. Panama Canal Authority (ACP) has the task of assessing the risks and coming up with an elaborate risk management plan. All the risks faced by the expansion project are characterized into a risk management cycle which balances on management measures. ACP’s risk management plan prioritizes and quantifies the material risks involved in the project. There is analysis of unexpected future risks with reference to the present working scope. The review by ACP identifies several risks that can prejudice the completion of the Canal expansion project, though probable risk implications vary across the association. The table below elicits the risks involved in the expansion project (mayo, 2005, p. 1-2); Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The risk on analysis can cause a delay of over 1 and  ½ years with costs shooting up to $200 million. The main quantifiable risks involved are; Completion delay as a result of material delay: This can arise from difficulties on the side of contractors delivering resources, labor, logistics, equipment and bad weather. However, many of these have chances of partial mitigation. Structural organization: The present organizational structure may prove efficient and effective with the present work scope. However if can be dysfunctional with the expansion of the project. ACP’s risk management plan captures the organizational structure. Safety of the employees at the expansion project: Based on the statistics available, this risk does not merit the materiality threshold. Skilled manpower for the project: Recruitment and retention of skilled manpower for the expansion project also poses a big challenge. Mitigation of this is through a transition and mentoring program. Project costs: This includes change in the initial project cost estimation and overruns. Project definition a nd scope: This captures the changes in the initial project design and definition. Disruption of channel: Since the channel is currently under utilization, the expansion project presents a disruption challenge. Political, environmental and social risks: They include risks associated with water resources handling like availability, pressure from environmental and other interest bodies. This causes delay in approval and political interest interference. Market risks: market variable like demand, competition pricing strategies and world economic trends are dynamic. This can lead to difficulties in toll raising, economic crisis, and shipping market tendency changes. ACP has the task of evaluating the level of exposure of the Panama Canal to future risks than involve probability of an undesired result within the specified project cost, technical aspects and task schedule. Risk impact analysis The Panama Canal expansion project risks exposure to occurrences which are likely to impact on it s financial performance. The projected risk value is a product of risk impact and probability of the risk occurring (Kendrick, 2003, p. 3). Having more information about the risks gives an upper hand towards mitigating, transfer or total risk elimination (Inside U.S. trade, 1983, p 11). ACP has adopted a structured way in identifying, assessing and analyzing to develop a risk management plan which includes; Identification of risk: There is identification of the technical and financial risks associated with the Canal expansion and their probability determined. Analysis of the risk: At this stage, there is analysis of the identified risks to establish the level of their implications. This is done by rating the risk and risk event prioritization by probability and intensity of the impact. Planning of the risk: This involves a documenting a continuous risk assessment plan for monitoring and evaluation. It involves evaluation of how the risks have evolved and assigns sufficient resource s as per cost and time frame. Monitoring of risk: Tracking of the risk management tools performance against defined metrics. Further risk management options can be introduced where appropriate. Documentation of risk: It includes documentation of records and reports of the risk management strategies for result monitoring. Recommendations on managing Panama Canal expansion With the various challenges and risks presented by the Panama Canal expansion project, several recommendations will ensure successful project completion. There has to be an examination of the functional ability of the canal when expanded to estimate yearly vessel traffic. Establish the price advantages of the new Post Panamax vessels. Evaluation of availability of adequate water for the project’s demand is vital as it has an impact on the number of vessels to utilize the canal reasonably. Assessing of adjacent ports for the ability to handle Post Panamax vessels is fundamental. The ports are putting forward various measures and adjustments in preparation of the increased ship traffic on completion of the Canal project. Investigation on the possibility of routing sea traffic from the west to alternative ports is important and consideration of the associated sailing costs. Assess the alternative port’s capacity to accommodate the additional traffic with reference to reasons that favor diversion or attraction of ships to that port. Additionally, a study to examine to economic reasons that motivate new container orders is necessary to validate the viability of the expansion project. References DuTemple, L. A. (2003). The Panama Canal. Minneapolis, MN: Lerner.Advertising We will write a custom research paper sample on Significant Risks in the Expansion of the Panama Canal and Risk management methods specifically for you for only $16.05 $11/page Learn More Inside U.S. trade. (1983). Washington, D.C: Inside Washington Publishers. Kendrick, T. (2003). Ident ifying and managing project risk: Essential tools for failure- proofing your project. New York: AMACOM. Mayo. D, (2005), The Panama Canal Authority CanalExpansion Risk Assessment Report. Retrieved from https://docs.micanaldepanama.com/plan-maestro/Study_Plan/Financial_and_Economic/Risk_assessment_report/0023-exec.pdf This research paper on Significant Risks in the Expansion of the Panama Canal and Risk management methods was written and submitted by user Nataly I. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.