Microeconomics Basic Concepts - 1055 Words

1. Introduction Basic Concepts 1.1 Economics Economics is a study of how people choose to allocate their scares resources to produce, exchange and consume goods and services to satisfy unlimited wants. As in this article, fuel surcharges increases as the price of fuel increases. Economics is also a study of choices made by individuals, firms, governments and society as a whole which helps us to understand economic issues that we read and hear about. In this article, people have a choice whether or not they want to pay more for air tickets as although airlines are making profits, it can still lead to higher fares. 1.2 Scarcity A good or service is scarce if the amount people desire exceeds the amount available at zero price.†¦show more content†¦This would mean higher economic growth for the airline companies and with higher economic growth, it means expectations and thus the demand for airline tickets will also increase due to this fact and thus the supply will increase and if the demand’s increase is more than the supply’s increase, prices will go up as demand is more than supply. 3. Supply 3.1 Law of Supply The Law of Supply states that a direct relationship exists between price quantity supplied of a good, ceteris paribus. When price increases, supply increases and vice versa. This is due to the fact that producers are more willing to sell greater amounts of a good at a higher price as it is relatively more profitable to produce, compared to other goods. In this case, due to the increase of prices of airline tickets and the possibility of it continuing to increase, airline companies are merging together to not only reduce competition but when they merge as one airline company itself, they are able to sell more airline tickets. 3.2 Determinants of Supply (Factor/Resource Price) If higher cost of production were incurred and if the producer were given the same price, they would be less willing and able to sell at all price levels or that a higher price level may be charged at every output level. This is so in the case as, for the airplane to fly from one country to another, it requires fuel which is increasing in price andShow MoreRelatedLearning the Basic Principles and Concepts of Microeconomics: A Response631 Words   |  2 Pagesthis course, and understanding these basic principles of microeconomics has changed the way that I view everyday activities and transactions. I have a better understanding of the key concepts that go into decisions we make, whereas before I think I accepted a lot of everyday decision-making at face value. Now I understand that even if it is subconscious we are making tradeoffs in our decision making. Going into the course I could easily have repeated concepts like supply and demand without actuallyRead MoreMicroeconomics1441 Words   |  6 PagesQuestion 1) With examples give 5 reasons why the study of microeconomics is important. Microeconomics is a field of economic study that focuses on how an individual s behaviour and decisions affect the supply and demand for goods and services. For the purpose of microeconomics, the actions of individuals, households and businesses are crucial, unlike the study of macroeconomics, which focuses on national and international economic trends. Despite the differences between the two fields, howeverRead MoreComparative Study on Consumption Patterns of Soft Drinks and Fruit Juices846 Words   |  4 Pagestherefore become more health conscious thus leading to increase in demand of juices. Market Research is based on some underlying parameters like: †¢ Changing consumption pattern †¢ Health factor †¢ Status consciousness †¢ Varying lifestyle The basic subject matter of the research, comparative analysis of Soft Drinks and Juices is focused to study the mind/taste of different age group of people. The study starts with determining the major players in the soft drinks and the juices market, theirRead MoreLaws of Supply and Demand1244 Words   |  5 Pages Microeconomics and the Laws of Supply and DemandECO/365October 13, 2014Professor CoulibalyComedian P.J. O’Rourke said it best when he said, â€Å"microeconomics concerns things that economists are specifically wrong about, while macroeconomics concerns things economists are wrong about generally. Or to be more technical, microeconomics is about money you don’t have, and macroeconomics is about money the government is out of† (Beggs, 2014). On a serious note however, macroeconomics and microeconomicsRead MoreEconomics As An Area Of Study And Research1372 Words   |  6 Pagesto study the interaction and behavior of various economic factors that determine how economies work (Marshall 2004). Understanding of economics calls for the division of the subject into two main branches. The areas are microeconomics and macroeconomics. Microeconomics is the basic form of economics in the society. It examines the roles of households, individual consumers, and markets in a given region. On the other hand, macroeconomics examines the factors that affect the larger components of theRead MoreMicroeconomics: The Foundation behind Small Businesses1130 Words   |  5 PagesMicroeconomics: The Foundation behind Small Businesses Small business are said to be the backbone of the United States economy. It said that small businesses contribute to growth and vitality in the specific area of the United States economic development. Small businesses play a huge role in how the business world is shaped. Entrepreneurs are smart, creative and innovative however, those same entrepreneurs need to have some knowledge that the study of microeconomics focuses on. With the studyRead MoreEco365 Supply and Demand Simulation Paper761 Words   |  4 Pagesmonth. A microeconomic principle that stood out at the beginning of the simulation was the use of the word â€Å"monopoly†. The simulated management organization has a monopoly in the rental field within Atlantis. I considered it to be a microeconomic principle in that it was limited to a certain region. On a macroeconomic scale, it would not hold true because of the fact that there are numerous rental management organizations throughout the world. The second microeconomic principle fromRead MoreMicroeconomics Is The Branch Of Economics That Studies And Analyzes The Market Behavior Of Both Individual Firms Essay1384 Words   |  6 PagesMicroeconomics is the branch of economics that studies and analyzes the market behavior of both individual firms and consumers, that help to understand the decision-making process of those individuals. Microeconomics analyzes the relationships between both the buyers and sellers as it studies the factors that influence both parties. Microeconomics focuses on the supply and demand of products and how small businesses price those items. Macroeconomics, however, focuses on the national’s economy asRead MoreThe Simulation This Week Based On A Fictitious Town Of Atlantis1033 Words   |  5 Pagesprogression of the simulation, several key concepts were presented, they were: 1) supply and demand, 2) market and price equilibrium, 3) shifts in supply and demand and 4) the potential effects of governmental imposed price ceilings. Key Concepts According to Colander (2002), microeconomics is the interaction and behavior of individual units in an economy. Conversely he says that macroeconomics looks at the economy as an collective or aggregate. While microeconomics has a narrow view of the economy, macroeconomicsRead MoreMicroeconomic Concepts1246 Words   |  5 Pagesï » ¿ Title Page Microeconomic Concepts Charlie Edwards Contents Page Page Title page 1 Contents page 2 1.0 Summary 3 2.0 Introduction 3 3.0 Over view of Qantas group 3 4.0 Products and Services 4 4.1 Economy and Economy plus 4 4.2 Business Class 5 4.3 First 5 5.0 Internal and external factors 5 5.1 Internal factors 6

The Effects of Social Networking Sites to the Academic...

The Effects of Social Networking Sites to Academic Performance of the Students ABSTRACT Title : The Effects of Social Networking to the Academic Performance of the Students The purpose of the study was to determine the effects of social networking to the academic performance of the students of Universidad de Manila. Specifically, it attempted to answer the following questions: 1. What is the demographic profile of the respondents in terms of age, gender? 2. What is the academic performance of the respondents in terms of general weighted average GWA (first semester S.Y. 2012 – 2013)? 3. What is the attitude of the respondents towards social networking? 4. Is there a significant relationship between social†¦show more content†¦Many authors, such as Dr. Norman Nie of Stanford University, predicted that these forms of technology would negatively impact adolescent social lives, and reduce their sense of well-being (Peter amp; Valkenburg, 2009). At that time, many child and adolescent researchers thought that on-line relationships would be superficial or mean ingless. It was also predicted that these teenagers would use the Internet for purposes of meeting strangers instead of building on established relationships (Peter amp; Valkenburg, 2009). It was also assumed by some professionals that adolescents would spend too much time on computers, and this would negatively affect their â€Å"real- life† friendships and relationships with others (Peter amp; Valkenburg, 2009). While several authors during the early 2000’s hypothesized that children and teenagers would become less social with on-line participation, proving this was difficult, as many homes still did not have Internet access. In 1995, it was estimated that only 11% of American teenagers were actively participating on social networking websites (Peter amp; Valkenburg, 2009). Since the early years of social networking popularity, research has been done in order to find out how this technology was affecting youth (Bryant, Sanders-Jackson, amp; Smallwood, 2006). Though the early trend was to believe that these sites would negatively affect adolescent communication, other researchers believed that technologicalShow MoreRelatedThe Effect of Social Networking Sites to the Academic Performance of Students2842 Words   |  12 Pagesï » ¿ A STUDY ABOUT THE EFFECTS OF SOCIAL NETWORKING SITES TO A STUDENT’S ACADEMIC PERFORMANCE Kurt Jonas L. Adonis Errol A. Buenaventura Researchers Mrs. Marilyn S. Roque Marcelo H. del Pilar National High School December 2013 Acknowledgement We would like to acknowledge our former teacher in research Mrs. Kathyryn Alvarez for teaching us the basics of research. Without her, we would not know anything about research. We would also like to acknowledge our current teacherRead MoreThe Effects of Social Networking Sites on the Academic Performance of Grade 7 Students1711 Words   |  7 PagesCHAPTER 1 THE PROBLEM AND ITS BACKGROUND INTRODUCTION Based on the studies today , social media has influenced students to rely on the accessibility of information that is available on the internet .The students are reduced on focusing on their learning as well as on retaining the information. In the Philippines the quality of education is getting low because of the short period of education ,so that’s why the K to12 became was born. The K to 12 Program covers  KindergartenRead MoreLiterature Review : A Research Essay1741 Words   |  7 PagesDevelopments and Social Networking Sites When Hartshorne, Ajjan, and Cao (2016) conducted their study, they observed that there has been a significant increase in the number of social networking websites today. Indeed, Jacobsen and Forste (2011) argue that social networking websites have become an international phenomenon in recent years, with many individuals, especially teens and young adults becoming obsessed and addicted to this relatively new sensation. Teenagers and young adults use these social networkingRead MoreA CASE STUDY OF THE INFLUENCE OF FAMILY ON FIRST- GENERATION COLLEGE STUDENTS‚Äà ´ EDUCATIONAL ASPIRATIONS POST HIGH SCHOOL1560 Words   |  7 Pagesï » ¿Impact of Social Networking Sites Usage on Student’s Academic Performance in Pakistan Abstract Purpose – This research paper examines the impact of the usage of social networking sites (SNS) on the academic performance of the students in universities. The impact has been studied in relation to three variables acting as moderators to the usage of social networking sites which in turn helps to enquire the variation of academic performance of the students regarding that usage. The Independent variableRead MoreSocial Network and Its Effect on Poor Students Academic Performance1051 Words   |  5 PagesSOCIAL NETWORK AND ITS EFFECT ON POOR STUDENTS ACADEMIC PERFORMANCE Facebook, Twitter, and Instagram are the example famous social network that becomes the best choice among the students, especially university students. Social network can defines as site of grouping of individuals into specific groups, like small rural communities or a neighbourhood subdivision. Nowadays, the social network is a necessary communication tool that has emerged in the field of information and communication technologyRead MoreThe Current System Of Global Social Networking Essay1663 Words   |  7 Pagesexchange of thoughts and ideas among people were once hindered by long distances and cultural divides, but this is no longer true as knowledge and information are currently free flowing. The current system of global social networking allows for ample sharing of thoughts and ideas with online social networks such as Twitter and Facebook emerging as giants in this new world (Hogan, 2010). Qualman (2010) stated that the introduction of technological innovations and infrastructure into countries has been a majorRead MoreThe Current System Of Global Social Networking Essay1662 Words   |  7 Pagesexchange of thoughts and ideas among people were once hindered by long distances and cultural divides, but this is no longer true as knowledge and information are currently free flowing. The current system of global social networking allows for ample sharing of thoughts and ideas with online social networks such as Twitter and Facebook emerging as giants in this new world (Hogan, 2010). Qualman (2010) stated that the introduction of technological innovations and infrastructure into countries has been a majorRead Moreimpact of social networking sites1577 Words   |  7 Pagesï » ¿ IMPACT OF SOCIAL NETWORKING AMONG STUDENTS A STUDY OF NTHMC KRISHNA MAN SHRESTHA Symbol no. 12030706 P.U registration no: 2011-2-03-2065 Nepal Tourism and Hotel Management College (N.T.H.M.C) Business Management Center (B.M.C) Submitted for the degree of: Bachelor of Business Administration (B.B.A) Pokhara, Kaski, Nepal 2013 TABLE OF CONTENTS CHAPTER- I INTRODUCTIONRead MoreThe Effects Of Social Media On Our Society1559 Words   |  7 Pagesdeny that social media has taken over conventional media in the world today. We can easily see that they have impacts on our society. Since the introduction of social network sites years ago, to communicate with friends and family has been easy once you have access to internet.The definition of social media is the relationship that exist between network of people (Walter Riviera, 2004). In the last ten years, the online world has changed dramatically. Thanks to the ivention of social media, youngRead MoreThe Impact Of Social Media On Young People Essay1679 Words   |  7 PagesSocial media is a term that is utilized in describing the interaction between individuals or groups where they produce, share ad sometimes, exchange ideas in virtual communities and the internet. The consequences of social networks on young people have become significant. Most of them have grown up surrounded by mobile devices and also interactive social networking sites such as Facebook, Twitter and also Instagram which has made these social networks a critical factor of their life. The social network

Contemporary Aspect Ethics Social Discourseâ€Myassignmenthelp.Com

Question: Discuss About The Contemporary Aspect Ethics Social Discourse? Answer: Introducation The video clip, available on Fox News, namely Edward Snowden and How America Lost its Secrets, as suggested by its very title, shows how Edward Snowden, a former employee of National Security Agency of USA, acted in his own selfish interests, in exposing the NSAs activities, and how should be termed as a whistleblower (Fox News, 2017). Snowden leaked invaluable information of NSAs spying program, whereby in the most unethical way, NSA was able to track and monitor the confidential information of the US public via telephone calls, emails and other files. By sharing the confidential US intelligence documents with the journalists, in 2013, Snowden certainly tried to act in public interest and safety (Diglin, 2014). However, the clip shows a biased attitude towards Snowden, while covering news pertaining to this incident, as the interviewee clearly said, how his disclosure threatened the security of the US administration. Further, the interview refused to focus on Snowdens motive, I dont really know Snowdens motive, I am more interested in his actions, that clearly shows a censored agenda behind the news presentation. The channel could easily invite Glenn Greenwald, who in his book has been supporting the action of Snowden in exposing the Obama-led government, and its spying activities. As a media channel, it is important for Fox News to enlighten the audience about the counter-perspectives, and the same could be achieved by calling in Greenwald for the interview, whose book has justified the action of Snowden. However, Fox News decided to call in Edward Jay Epstein, and right from the selection of the title, to the selection of words in labelling Snowden, it had tried to portray Snowden as someone who is a threat to the society (Ephraim, 2017). The content definitely highlights how Snowden had exposed sensitive data of the NSA, and yet it deliberately maintained silence on how he exposed the facts in public interest. The broadcast clearly exhibits the use of derogatory words such as stole, theft, damaged, deliberate and whistleblower that clearly portray Snowdens character in the light of a trait or, whose actions not only displayed loyalty towards the organization he served for, but also caused irreparable damage to the country as well (Fox News, 2017). It is indeed surprising how Fox News clip deliberately intended to focus on the presentation of Snowden as a traitor, and failed to address crucial issues such as the unethical act of mass surveillance of the Obama-led US administration, and the legality of Snowdens actions in exposing the unethical act of the government. The clip contains highly biased content, whereby the news host as well as the interviewee tried to portray Snowden as a whistleblower, fleeing his own country and going to foreign nations like Russia, acting as an intelligence asset in foreign nations. However, despite all the debate revolving around the character and intent of Snowden, the clip, not for once, focuses on the essence of the revelations contained in the documents, leaked by Snowden. The public service that Snowden has done outweighs any form of breach of contract that he might have committed. Yet the question arises, why did the media channel fail to focus on the content of the data revealed, and instead chose to assassinate his character. The answer is simple- the Fox News authority was aware that it must favour the administrative power reigning in the US, and as such divulging the findings of the disclosed datasheets exposed by Snowden would only aggravate the situation. Hence, the channel chose to divert the attenti on of the audience towards the character of Snowden, his so-called traitor-like activities and his escape from the country like a whistleblower. There is no gain stating the fact that Snowdens escape from US prosecution appears to be the ultimate focal point of the news clip, helping to continue the narrative of Snowdens personality as well as ill-motives behind his disloyal actions (Tarzie, 2017).However, the entire clip, nowhere does reflect on the US governments condemnable offence of spying on its residents, and in fact, not for once, does it even refer to the US government. The misrepresentation of Snowden in the video clip clearly shows the biased attitude of the channel, towards the US government, and highlights its desperate efforts to safeguard the interests of the Obama-led administration, by protecting their unethical actions, from the public eye. The attitude shift against Snowden, and the channels deliberate effort to avoid critical discussions pertaining to the clandestine mass surveillance acts of the government has helped the channel shape public perception in a way, that the abhor the very figure of Snowden and treats him as a potential threat to the national stability. Reference List: Diglin, G. (2014). Living the Orwellian Nightmare: new media and digital dystopia.E-Learning and Digital Media,11(6), 608-618. Edward Snowden and 'How America Lost Its Secrets'. (2017). Retrieved from https://video.foxnews.com/v/5318011512001/?#sp=show-clips Ephraim, P. E. (2017). Whistleblowing and social responsibility in a surveillance system: Appraising the morality of the Snowden disclosures.Mapping Media Responsibility. Contemporary Aspects of Morals, Ethics and Social Discourse, 50. Tarzie, B. (2017). Edward Snowden, Frenemy of the State.American Journal of Economics and Sociology,76(2), 348-380.