business economics Essay - 831 Words

Table of Contents 1. INTRODUCTION 2. MAIN BODY 2.1 THE NATURE OF RESOURCE COST STRUCTURE AND THE PRACTICAL SIGNIFICANCE OF DIFFERENT COSTS 2.2 THE FACTORS INFLUENCING OPTIMUM SIZE AND THE SIGNIFICANCE OF DEMAND AND SUPPLY RELATIONSHIPS 2.3 UNDERSTANDING OF THE RELEVANCE AND LIMITATIONS OF ECONOMIC THEORY TO MANAGE DECISIONS 3. CONCLUSION 1. INTRODUCTION: From the economic perspective, there are a full range of wants from individuals, firms and government but there is only a few number of resources or factors of production such as land, labour, capital and enterprise. The raw material will come from land, taking the example of oil, gas. The labour relates to the individuals able to work. The capital covers machinery,†¦show more content†¦Equipment, everything used to bring all the materials together, for example, cranes, welding sets, computing time, mobile offices. It is also important to know how much money committed to spend at any point in time. 2.1.1The microeconomics perspectives: This focuses on the market behaviour of individual consumers and firms to help understand the decision making process of firms and households. This is at a level of individual buyer and individual seller, meaning demand and supply. How much to produce and how much to charge for it. The law of the demand is that the demand decreases when the price increases and the demand increases when the price decreases. Also more demand of a product results in an increase of the price the price of that product. (See graph below). 2.1.2The macroeconomics perspectives, focuses on the big picture of the national economy as a whole and provides a basic understanding of how things work in the business environment. The macrocosmic policy goals will be achieved by the monetary policy and the fiscal policy. The monetary policy is the management of the nation money supply, the decision of the interest rate and the banking system to promote economic growth, lower unemployment and inflation. 2.2The factors influencing optimum size and the significance of demand and supply relationship: The demand and the supply are two main concepts of the economy. Demand is what quantity of product or serviceShow MoreRelatedEconomics : Economics Of Business1361 Words   |  6 PagesHND Accounting Economics FINAL REPORT: The Economics of Business DUE DATE: 20 May 2015 Catherine Macintosh 11006620 For the attention of Sarah Sutherland Word count: 1,243 (Excluding Acknowledgements, Abstract/Executive Summary, Terms of Reference, References Appendices TABLE OF CONTENTS Page 1.0 Costs 3 1.1 Total costs 3 1.2 Average costs Read MoreEconomics For Business Assignment : Economics1362 Words   |  6 PagesEconomics for business assignment This is a two sided argument which needs complex and in-depth analysis to make a final judgement. The degree of government intervention may depend on many factors affecting the economy as a whole, a specific market and the businesses operating within it. The nature of different government regulations may have a restrictive nature, however some government action may have a beneficial effect on business activity and positively impact their objectives. It is essentialRead MoreEconomics For Business Administration : Economics2730 Words   |  11 Pages Richmond The American International University in London School of Business and Economics Master in Business Administration ENT7100 Economics for Business Assignment 1 â€Å"The GDP is an appropriate measure of economic activity and wealth.† David Longbottom 000055846 November 2014 Table of Contents Executive Summary 4 1.0 Background 5 1.1. Macroeconomic Issues and Policy Objectives 5 1.2 Circular Flow of Income 7 2.0 Analysis 8 2.1 Measures for National IncomeRead MoreBusiness Economics : An Important Effect On Business1595 Words   |  7 PagesIn recent years, the globalization has faced with a multitude of economic, social and environmental crises which these situations have had profound impact on business by threatening the well-being of present and future business economics. For example, business economics are an important effect to enterprises or companies’ strategies especially the factors which influence on their decisions, there are considering the acquisitions of productive materials and the transformation of these materials intoRead MoreBusiness Economics Problemset1887 Words   |  8 PagesBusiness Economics Problem Set 1 1. The Social Security system provides income for people over age 65. If a recipient of Social Security decides to work and earn some income, the amount he or she receives in Social Security benefits is typically reduced. A. How does the provision of Social Security affect people’s incentive to save while working? The provision of Social Security will decrease people’s income after tax this leads to people not to save incentives while working. B. How doesRead Moreeconomic business 12543 Words   |  11 PagesQuestion 2: a Define, describe and illustrate with a diagram, one opportunity cost for a person starting up their own business (2 marks) b Explain the difference between implicit and explicit costs (2 marks) c Explain the difference between accounting profit and economic profit (2 marks) d How do opportunity cost, explicit cost, implicit cost, accounting profit and economic profit relate to each other? (4 marks) Question 3: a Why would consumers prefer that the government tax productsRead MoreRole of Mathematics in Business Economics1407 Words   |  6 PagesRole Of Mathematics in Business amp; Economics Introduction: Mathematics have been one of the primary elements of business and economics since ancient times, when farmers had to count the animals in their possession and merchants had to have a clear picture of their goods value. With the introduction of money as the universal legal tender, all goods acquired a numerical value, making math calculations even more important. Furthermore, in the competitive global market environment of today, businessesRead MoreBusiness Proposal Economic Analysis1552 Words   |  7 Pagessingle people or the disabled offering specialty services (Economics Online, 2010 - 2014). Kaiser Permanente is an insurance plan that dominated the market. It evolved from an industrial health care program for construction, shipyard, and steel mill workers for the Kaiser industrial companies during the late 1930s and 1940s. It was opened to public enrollment in October 1945 (Thinking Healthy History, 2014). Economic Analysis This business proposal will primarily focus on the demand of the marketRead MoreBusiness Economics: Questions and Answers968 Words   |  4 PagesCHAPTER 1 1. Internal expansion involves a normal increase in business resulting from increased demand for products and services, achieved without acquisition of preexisting firms. Some companies expand internally by undertaking new product research to expand their total market, or by attempting to obtain a greater share of a given market through advertising and other promotional activities. Marketing can also be expanded into new geographical areas. External expansion is the bringing togetherRead MoreEconomic Boundaries And Its Effect On Business1974 Words   |  8 Pagesfrom the economic conditions, government and competition has increased the difficulties. Governments and businesses are interdependent, the interdependence will grow further by globalisation of the economy when it comes to international business. Mamman (2004) states: â€Å"One of the manifestations of globalisation is the blurring of political and economic boundaries and the diminishing traditional role of national governments.† The role of government has always been an important factor in business, they

Should Marijuana Be Legalized Essay - 1518 Words

Marijuana The truths about marijuana are slowly starting to resurface, the government keeps ignoring that cannabis could one day be as powerful for the U.S. Unfortunately, these truths about marijuana are under a lot of criticism because of the stereotype of what people see as a marijuana or cannabis smoker. There is a great difficulty in this law because marijuana is still recognized as a harmful and dangerous substance in some states. This can cause problems because each state has their different views and opinions on the matter, and have their own rules and how the rules apply towards it. The twenty-six states and the District of Columbia currently have laws legalizing marijuana in some form, but California, Massachusetts, and Nevada just passed the law for recreational use. The states that have medical marijuana and recreational legalization are Washington, Oregon, California, Colorado, Nevada, and Alaska. The states that only have medical marijuana legal are Montana, North Dakota, Minneso ta, Michigan, Illinois, Ohio, Pennsylvania, New York, Vermont, New Hampshire, Connecticut, New Jersey, Maryland, Delaware, Florida, Louisiana, Arkansas, New Mexico, Arizona, Hawaii (Ingraham). However, legalizing marijuana could have some benefits instead of being a drug with some bad reputations. Marijuana should be legalized because of medical reasons, safety reasons, and have some benefits to society. Legalization of medical marijuana in the United States would benefit many peopleShow MoreRelatedShould Marijuana Be Legalized?849 Words   |  4 Pageswhether marijuana should be legalized. Around 23 states have legalized marijuana for medical and recreational use. In the state of Illinois, medicinal use of marijuana has been passed on April 17, 2013. Since January 2014, patients are able to obtain marijuana with a doctor s recommendation. The new debate is whether marijuana should be legalized for the general public as a recreational drug. Although some believe that marijuana is harmless, and that it has beneficial medicinal uses, marijuana shouldRead MoreShould Marijuana Be Legalized?1715 Words   |  7 PagesMarijuana in Society Cannabis, formally known as marijuana is a drug obtained from the tops, stems and leaves of the hemp plant cannabis. The drug is one of the most commonly used drugs in the world. Only substances like caffeine, nicotine and alcohol are used more (â€Å"Marijuana† 1). In the U. S. where some use it to feel â€Å"high† or get an escape from reality. The drug is referred to in many ways; weed, grass, pot, and or reefer are some common names used to describe the drug (â€Å"Marijuana† 1). Like mostRead MoreShould Marijuana Be Legalized?1489 Words   |  6 Pagescannabis plant or marijuana is intended for use of a psychoactive drug or medicine. It is used for recreational or medical uses. In some religions, marijuana is predominantly used for spiritual purposes. Cannabis is indigenous to central and south Asia. Cannabis has been scientifically proven that you can not die from smoking marijuana. Marijuana should be legalized to help people with medical benefits, econo mic benefits, and criminal benefits. In eight states, marijuana was legalized for recreationalRead MoreShould Marijuana Be Legalized?1245 Words   |  5 PagesMarijuana is a highly debatable topic that is rapidly gaining attention in society today.   Legalizing marijuana can benefit the economy of this nation through the creation of jobs, increased tax revenue, and a decrease in taxpayer money spent on law enforcement.   Ã‚  Many people would outlaw alcohol, cigarettes, fast food, gambling, and tanning beds because of the harmful effects they have on members of a society, but this is the United States of America; the land of the free and we should give peopleRead MoreShould Marijuana Be Legalized?1010 Words   |  5 PagesThe legalization of marijuana became a heated political subject in the last few years. Twenty-one states in America have legalized medical marijuana. Colorado and Washington are the only states where marijuana can be purchased recreationally. Marijuana is the high THC level part of the cannabis plant, which gives users the â€Å"high† feeling. There is ample evidence that supports the argument that marijuana is beneficial. The government should legalize marijuana recreationally for three main reasonsRead MoreShould Marijuana Be Legalized?1231 Words   |  5 Pagesshows the positive benefits of marijuana, it remains illegal under federal law. In recent years, numerous states have defied federal law and legalized marijuana for both recreational and medicinal use. Arizona has legalized marijuana for medical use, but it still remains illegal to use recreationally. This is absurd, as the evidence gathered over the last few decades strongly supports the notion that it is safer than alcohol, a widely available substance. Marijuana being listed as a Schedule I drugRead MoreShould Marijuana Be Legalized?1350 Words   |  6 Pagespolitics in the past decade would have to be the legalization of marijuana. The sale and production of marijuana have been legalized for medicinal uses in over twenty states and has been legalized for recreational uses in seven states. Despite the ongoing support for marijuana, it has yet to be fully legalized in the federal level due to cultural bias against â€Å"pot† smoking and the focus over its negative effects. However, legalizing marijuana has been proven to decrease the rate of incrimination in AmericaRead MoreShould Marijuana Be Legalized?1145 Words   |  5 PagesLegalizing Marijuana Marijuana is a drug that has been actively used for centuries. This drug can be traced back to 2737 BC by the Chinese emperor Shen Nung. He spoke about the euphoric effects of Cannabis and even referred to it as the â€Å"Liberator of Sin.† Since early on, marijuana was seen as a medicinal plant that was recommended for medical uses. Marijuana is currently in schedule I, which means that physicians are not allowed to prescribe it in the United States (Hart, Ksir 2013). This drugRead MoreShould Marijuana Be Legalized?997 Words   |  4 PagesLegalize It: The Benefits of Legalizing Marijuana Should marijuana be legalized? Many Americans have been asked this question or have heard some type of news about the issue. Marijuana is commonly known as cannabis which refers to the dried up hemp plant cannabis sativa, even though marijuana is a plant and has no chemical additives it has been a tropic of controversy for many years but nowadays it is in the spotlight more than ever. For centuries, marijuana has been used by people throughout theRead MoreShould Marijuana Be Legalized? Essay1457 Words   |  6 PagesSHOULD MARIJUANA BE LEGALIZED? Marijuana is a drug that has sparked much controversy over the past decade as to whether or not it should be legalized. People once thought of marijuana as a bad, mind-altering drug which changes a person’s personality which can lead to crime and violence through selling and buying it. In the past, the majority of citizens believed that marijuana is a harmful drug that should be kept off the market and out of the hands of the public. However, a recent study conducted

Silk research method Essay Example For Students

Silk research method Essay Do you know the process that goes into making silk? Many people over look this fine, luxurious garment. When I first heard that we had to do an I-search, I was overwhelmed by the choices. I made many changes before finally settling on this topic. When I first though of how to make silk, I didnt think that it would be that hard with the right tools. Although I knew that the fibers came from the silk worms cocoon I still didnt know how they got it unraveled. I also thought that they only made silk in China. There are many things that I didnt know about making silk. When I thought of doing this topic I didnt think that it would be to easy either. I thought that I would have to go to more than one source to get the answer. I have one main goal for writing this I-search. That is because it is an assignment. If I wanted to know about this topic I wouldnt spend this much time on it. In the begging I wanted to do the topic Is biological weapons worth the destruction that they cause on the planet? . Then I thought to myself, There isnt a really right answer because everyone will have a different P. O. V. Now I had to come up with a better question, on that has a true answer. Then I thought to myself again, Do you know how monorails work? . I didnt answer myself because then I would be crazy. But the first book I looked in I found the answer, so I dropped that idea. My last and final I-search topic would be, How is silk made? . I think that that answer may be fairly easy to find, but its a topic that interested me because my grandma has been to China and has seen that places where they The Chinese make the silk. She also showed me the cocoons that they take the thread from. On the first day that I started looking for the answer my English class went to the library. From there I combed the library for the answer. My first stop was an encyclopedia. The first random book that I pulled from the shelf was called Encyclopedia America. That one wasnt much help. It only told me how silk worms are cultivated. That didnt bother me much, because I was confident that I would find the answer still. In the next day in the library I skimmed through a few more books. One of which was titled Colliers Encyclopedia. It was more use full then any past books. This one had a little on how to make silk. On the third day I gave up on the library. I figured that I had checked enough books. Now it was up to us to find the answer outside of school. We had a couple days of class time to write this paper but I didnt use that wisely. I wasnt too concerned with this project at the time so I put it on the back burners. After a couple of days I started back up. My first stop of the day was my Encarda Encyclopedia CD-ROM. That just gave me stuff on how they are harvested. Woo DÃÆ'Â ©jÃÆ' vu. My last stop was my grandmas house. I wouldnt consider her an expert, but she has been to where they Chinese make their silk. She also showed me the cocoons that they make it out of. That was interesting because I got to feel how thin that the strand were. She wasnt a lot of help with the process, but she had a lot of other good facts. I did not uncover the answer to how silk is made. This didnt really disappoint me because I found out a bunch of other cool things about silk. Such as, a strand of silk is stronger than the same thickness of a piece of steel. I also found out the habits of baby silk worms. Did you know that they eat continually for almost 6 weeks? Another thing that I learned while doing this project was that teachers make you write way too much for stuff that you dont even care about. But I do know that I hated this whole thing a lot because I found it pointless and a waste of time.