Aspects of microeconomics and macroeconomics

Aspects of microeconomics and macroeconomics On this assignment will be looking into different aspect of microeconomics and macroeconomics, will be taken into consideration the definition and concept of the whole question as follow below. Part 1 (Micro section) Q1 To help understands by defining Demand that is the quantity of a good which consumers want, and are prepared and able to pay for. In this case the demand of organic food and drink has fallen sharply, and the main influence for fallen on demand for those products are: price; income; the price of substitute goods; the price of complements; taste; demographic factors; advertising and expectations. Price is one of the most important factors and it shift demand curve when it rises, the effect is shown by a movement along the demand curve, because consumers are likely to substitute cheaper alternative goods. http://upload.wikimedia.org/wikibooks/en/c/c1/DemandCurveMovementExample2.png The demand curve is downward-sloping, showing that as a price falls, demand rises, and vi ce versa. In this graphic, a reduction of price from P2 to P1 causes a rise in demand from Q2 to Q1. Usually, the more people earn, the more they will spend. The demand for most goods increase as income rises, and these goods are known as normal goods. And organic food and drink are normal goods, because the demand falls as consumers’ income falls, and vice versa. Demand can change sometimes, because of the expectation of price changes in the future. For example, post-Christmas sales may push customers to postpone spending until January. In an article entitled Food Price, Ellis makes the point that (à ¢Ã¢â€š ¬Ã‚ ¦) â€Å"The proportion of shoppers buying organic food dropped by five per cent in the previous year. In July 2009, research carried out by marketing consultancy Cohn and Wolfe also reported that British shoppers are turning their backs on premium foods, organic produce and Fair-trade goods. According to the Cohn and Wolfe report, 69 per cent of shoppers say they i ntend to stick to their belt-tightening shopping practices even after the downturn ends† (†¦). www.bbc.co.uk/food/food_matters/foodprices.shtml#what_about_the_recession. Q2 The production possibility frontier illustrates the problems of scarcity and choice and the opportunity cost of resources allocation decisions. The opportunity cost of something is what you give up to get it. To understand the idea the economy, which produce two goods as manufacturing and financial services, with all resources employed, producing more financial services can only be achieved by some sacrifice on manufacturing services. It can be illustrated on diagram below shown. B A 0 The frontier shows all the maximum possible outputs given the economy’s existing quantity of resources. It can have any combination of goods along the line. Point A shows a society which is failing to use all of its resources to the full, either through inefficiency or unemployment. Point B is currently unachievab le, but can be achieved throw economic growth. The shape of the curve is bowed outwards to the origin, is based on the notion of that society progressively allocates more resources to the production of a particular good, the opportunity cost of doing so will increase. In other words the curve is bold because the more input the less is the output.

Safety management Lab Report Example | Topics and Well Written Essays - 500 words

Safety management - Lab Report Example This study’s core focus encompasses thermal stress, which is exchange of heat with an ambient environment from a radiating body. However, this phenomenon may differ significantly based on varied factors besides location, which are climatic conditions, work demand and clothing. Hence, influencing workers’ conduct especially if they are working in a closed or poorly ventilated place to the extent some may exhibit irritability, working slowly or taking persistent breaks to go out where conditions are favorable. Therefore, the knowledge of this phenomenon is essential to engineers and other related experts in structural engineering when designing appropriate buildings in quest of installing proper ventilations. In this experiment, interval for elevation of temperature was at least 10 minutes in order to allow even distribution of heat and for the used equipments to stabilize for better results. Obtaining of the required results entailed measuring of both WBGTin and WBGTout coupled with tabulating them in a table for later comparisons when giving deductions. Hence, compare them though in ascertaining the premise of this experiment divergence will not show big margins. This experiment seeks to compare the two equipments’ accuracies based on their results. After having obtained the required materials and equipments required for this experiment, the second step was to set up the entire structure as shown in Figures 1, 2 and 3. This is to ensure after the commencement of the experiment observations are easy and devoid of errors in case of any incorrect setting of respective equipments or apparatus. Once the setting was complete, out of fifteen students they were to observed resulting data but in groups. These were to read varied temperatures quantities and recording them correctly after they have come to a consensus that they had taken respective readings accurately. The insistence of correctness in this experiment was to ensure its results do not minimum

Health Care Informatics Essay Example | Topics and Well Written Essays - 1750 words

Health Care Informatics - Essay Example Roberta L. C (2001). Despite the dynamic nature of the required knowledge base, Healthcare informaticians must absorb a significant body of domain (healthcare, Computer Science, Systems instance, etc.) knowledge. These domain knowledge elements are the conceptual objects (the components of the professional's elaborated knowledge elements wherein each element is linked to related elements) required to support reasoning about problems and solutions. This domain knowledge must be the deepest and most comprehensive to support the Innovator and Theoretician roles. Despite the needs of healthcare organizations for personnel with the both the skills and the knowledge, most Healthcare Informatics curricula should be centered with a focus on the domain knowledge component. This is especially true of those programs oriented to producing Theoretical Healthcare Informaticians. Roberta L. C (2001). The healthcare fraternity is faced with challenges in the 21st century, a millennium that has been characterized with globalization. Most countries are looking for quality, cost-effectiveness, and personal satisfaction from their healthcare providers. The healthcare industry, responding to this highly competitive market, is reorganizing, consolidating, and integrating to form a new healthcare delivery structure that will enable the delivery of high quality, cost-effective care to everyone. However, healthcare entities find it difficult to accurately determine costs associated with treatments. They have little or no basis for understanding costs associated with their services or tradeoffs associated with in-house versus contracted professional services due to lack of consistency across practices. As a result, many healthcare entities take on significant risk when either bidding or letting a capitated contract. Ongoing consolidation and affiliation of healthcare organizations increase s uncertainty in cost projections and hence the complexity associated with efficient management. Roberta L. C (2001). Scope Macro health challenges of the 21st century must be addressed early on to provide opportunities for bettering individual and community health. The use of population data for disease surveillance can lead to better prevention and control of diseases and improved coordination of prevention efforts and medical care. An accurate definition of community health and disease status will facilitate health policy and resource allocation for health service delivery worldwide. Fright G. (1998). Coordination to the extent necessary to undertake the issues presented above requires the availability of "the right data to the right people at the right time in the right format for the right cost", made possible through open, interoperable and secure systems. Clinical repositories must support the efficient sharing of data, information and knowledge across the continuum of care, including clinical, administrative, and knowledge services. Such access to sensitive data raise privacy and security issues, prevalent among all information technology domains, but especially sensitive in healthcare. The risk of unauthorized access or disclosure of patient data and the lack of integrity of the information must be mitigated. Roberta L. C (2001). The Vision Industry has formulated a vision of the