A Definition Of Monopoly Economics Essay

A Definition Of Monopoly Economics Essay Monopoly is an industry that has only one firm that sells a good which has no close substitutes. Monopoly firms also represent industries because there are no other firms in the market. Products that are from monopoly market are electricity, water, cable television, local telephone services and many more. Examples of monopoly firm in Malaysia is Tenaga Nasional Berhad, TNB’s unique position as a monopoly in the generation, transmission and distribution of electricity in Peninsular Malaysia. TNB is the only firm that provides us electricity to every building in Malaysia. Another monopoly firm in Malaysia that only provide sewerage services is Indah Water Konsortium Sdn Bhd. Indah Water Konsortium is the only firm in Malaysia that mainly responsible for operating and maintaining the public sewage treatment plants and network of underground sewerage pipelines. Characteristics of Monopoly Market One seller and large number of buyers Monopoly market characteristics are they is onl y one producer or seller in the market and there are many buyers. Therefore, the firm had the power to control the whole market whether it is from the angle of determining the price or the quantity of production. A monopolist has the power to determine the level of price because there is no competition from other firms. Therefore, if the monopolist intends to sell a bigger quantity, it has to reduce the price. This means that the monopolist can only control the price or the quantity of sales, and not both at once. No close substitution Furthermore, monopoly firm’s goods have no substitutes, its means consumers have no choice other than what is produced by the monopolist and they can’t find any substitute of the product. For example, Telekom Malaysia is a firms that provide home telephone services which has no close substitutes but if the buyer can find another firms that provide home telephone service therefore the product is no longer in monopoly. Restriction of entry of new firms All the competitors are prevented from entering the market due to strict barriers to the entry of new firm. To restrict the entry of new firms into the industry, there are barriers to entry that are natural or legal restrictions. There are no competition faces by monopolist is because of barriers of entry. Advertising A monopolist doesn’t need to advertise their product or services to increase sales because monopolist had the right to control the market and consumers know where to obtain the products and they have no choice to buy from other producer. Monopoly firms that provide local public utilities such as water, electricity and home phone services doesn’t need to advertise since they are the only firms that provide it and customers had no choice to buy it from another firm. Intro to Question 2 It is traditional to divide industries into categories according to the degree of competition that exists between the firms within the industry. There are four such categories. First of all is perfect competition is the market where there is a large number of buyers and seller. The goods sold in the market are homogenous where most of the goods are alike and most likely the same. Therefore, sellers can easily enter and exit from the market. Most of the agricultural goods are included in perfect competition market such as vegetables, fruits, rice, coffee beans, wheat, primary commodities, gold, silver and others.

An Issue That Impacts Distance-Education Learning Research Paper

An Issue That Impacts Distance-Education Learning - Research Paper Example From the discussion it is clear that though the program objectives and purposes are the same, the main difference is that distance learning occurs via web-based technology. This technology connects both the student and the faculty members separated by time and space denying them face-to-face interaction, essential for development of effective teacher student supportive relationships. The lack of face-to-face contact requires the faculty members to develop many new roles to teach, guide, support and assess their students. They cannot be able to discern the body languages of their students over the web, which is crucial in teaching.This essay highlights that for successful distance nursing facilitation, instructors must learn and develop new social and technological skills to use over the net. They must be possessing flexibility, patience, and amiable persona essential in developing interactive communication and relationships with their students. They must also develop and improve thei r basic computer skills to understand the concepts of online web based technology, which requires considerable investment of time and resources for the faculty members to be comfortable with the technologies. Technologies used in distance learning include hybridized audio, video, printable and web based accessories, which maximize student learning experience and efficiency.  Ã‚  Instructors need to invest their time and resources to keep pace with new technologies.... They must also develop and improve their basic computer skills to understand the concepts of online web based technology, which requires considerable investment of time and resources for the faculty members to be comfortable with the technologies. Technologies used in distance learning include hybridized audio, video, printable and web based accessories, which maximize student learning experience and efficiency. Instructors need to invest their time and resources to keep pace with new technologies (Smith, Passmore, & Faught, 2009). Designing distance learning modules require the coordination of various specialists and experts and doing this is a considerable challenge for instructors who have different opinions and ideas. Keeping in touch with the wide number of students, who are at different locations and with different cultures, is also an extraordinarily difficult challenge for faculty members who may be forced to work under different time zones. They must be able to plan and deve lop multi site communications, which require continuous upgrading of hardware and policy to improve efficiency. Failure to do this would render the programs redundant because of lack of co-ordination. Increased use of web based technology for distance learning may infringe intellectual and copyrights of materials been transmitted over the net. The wide number of materials used by different instructors is sometimes impossible to employ without infringements, and they may expose these programs to lawsuits. There is an urgent need for clarification on most of the materials used. Online nursing programs are similar to other courses taught online (Smith, Heindel, & Torres-Ayala, 2008), but assessment becomes a problem. It is

Westward Migration in 1800s Essay Example | Topics and Well Written Essays - 500 words

Westward Migration in 1800s - Essay Example John O'Sullivan, it is considered by the United States to be a divine mission to spread and possess the whole continent for the development of liberty and self-government to which the United States is known to. Philosophically speaking, this is true. Indeed many American authorities had a strong belief that their country's freedom and ambitions are very ideal and perfect that it should be shared to other countries beyond their jurisdiction. This was actually promoted by the Young America movement headed by Franklin Pierce. Realistically speaking however, this was not the case. The otherwise divine mission became an excuse, a moral justification that inspired the origin of imperialism in forcefully occupying the lands of those who previously live in peace and abundance. Most leaders and politicians promoted territorial expansion towards the west because of the desire to acquire new lands. Acquisition of more lands does not only connote more power; it represents additional source of income and wealth. During that time, the United States were already in the process of producing goods that require raw materials. These raw materials however could not be found therein as it has not much natural resources sufficient to provide its needs.

Army Representative Personal Statement Example | Topics and Well Written Essays - 1000 words

Army Representative - Personal Statement Example It aims at providing more aspects in the life of a soldier. Boss supports the overall quality of life and this is in regard to a single soldier. It works upon identifying the well- being issues in the life of a soldier and aims at improving the same. In addition to this BOSS provides an ideal platform for single soldiers to do community service and help as many people as possible. The BOSS team consists of three major organs namely, the senior military adviser, MWR advisor and the BOSS soldiers. Let me just briefly give an account of each. The senior military advisor has many important roles of which being a mentor to the BOSS soldiers is one of the most important, another important role of the senior military advisor is to approve and support the BOSS committee. The third most important role of the senior military advisor is to educate and inform NCO license channel (Liaison). The MWR Advisor is responsible for assisting the budget, the person is also supposed to do marketing of BOSS, another important role is to train BOSS committee members and the role also demands guidance on volunteer program. Moving on to the third most important organ of BOSS, the soldiers, there is a president, vice president, Secretary, Treasurer and brigade, all the posts come with various responsibilities and only the best soldiers are chosen for the same. This demonstrates my unde rstanding of BOSS and the expectations of the organization out of the soldiers. My Vision and Experience I consider myself a highly equipped professional and I have an experience of 9 years in performing a variety of administrative and staff support duties for different departments, which require a range of knowledge and skills of organizational procedures and policies; resolving administrative problems and inquiries. Interact well with individuals from diverse cultures and all professional levels. I will make sure that when I put the skills I am equipped with to work I achieve the highest quality standards of work. Let me just throw some light upon my core strengths, I am very comfortable working in Administrative Support, creative work attitude, Business correspondence and these are just a handful areas where I am very comfortable in working. I am aware of the fact that BOSS is also looking at experience and let me just give a brief account of my experience. I have served in the US Army for 9 years and during this period I gained a lot of experience. I worked as a record custodian and I was given many important responsibilities like training sailors and this was because the department where I worked was in joint- operation with the US navy. The post which I occupied demanded the management of dual role responsibility and I was selected to provide daily situation reports of the Battalion staff and trainees. I was also responsible for all the paper work and I was given the responsibility of proper filing of finances and personnel records I have also handled the post of Assistant training NCO; I was required to carry out many responsibilities. Some of them included Developing processing procedures and implementing procedures to staff during student in processing, assisted with the daily operations of the Battalion S-3 section, Assisting with maintaining individual

The 10 Key Operational Areas At dominoes Research Paper

The 10 Key Operational Areas At dominoes - Research Paper Example All their food and services are of quality by the fact that their employees are regularly trained to offer best services (Bized, 2010). Based of the findings, it should be noted that the senior managing director of Dominos pizza in Saudi Arabia was out of reach during the interview. However, I would like to acknowledge the assistance offered to us by the team members and some of the top managers of the company who allowed us to interview them. Finally, my warm gratitude’s is to you for allowing me to explore much by researching Dominos pizza company and familiarizing myself with exceptional business strategies the company used to grow. This has enhanced my research skills that will be much valuable in other future projects. Domino’s Pizza Company of Saudi Arabia was initially founded in the year 1960 as part of the international Domino pizza group (Bized, 2010). This company is also known to be the world leader in pizza deliveries and the company operates a network of company-owned and Franchise-owned stores in Saudi Arabia (Bized, 2010). In the larger Saudi Arabia, it is absolutely sure that Domino is the most trusted and widely know leading pizza delivery. This is because; the company main objective is to ensure they are perfectly dedicated to the best services, quality production and excellent deliveries (Bized, 2010). The company is flowing on a chain of success having being built by quality services which is customer centered and effective deliveries services they offer. Notable to mention is the fact that over 1000000 people globally enjoy Domino’s pizza on daily basis by the virtue that the company holds over 10000 stores in more than 60 countries on earth (Bized, 2010). This means that the company is well established and their brand is also perfectly recognized internationally. The driving power of Domino’s Pizza Company based in Saudi Arabia is the dedication and single minded focus towards producing the best

Physican-Assisted Sucide Should be Legal Essay Example | Topics and Well Written Essays - 2000 words

Physican-Assisted Sucide Should be Legal - Essay Example Persons who are for the legalization of assisted suicide believes personal autonomy, individual freedoms, which are expected during life should not abruptly and unnecessarily stop near the end of life. Another perspective is that since everyone agrees that terminally sick or severely injured animals are allowed a humane way to die peacefully. This rationale should be applied to humans too. A person’s sovereignty, their power to make decisions regarding their personal well-being, is stripped away by forbidding them the right to end their own life on their own terms. Self-determination, a right deemed indispensable during a person’s life, abruptly ends at the end of life, just at the time people needs it more than ever. What may be worse is the added indignation of forcible life-saving measures imposed on a dying person. People are kept technically alive while their bodies and minds are wasting away as their families watch and suffer along with the patient. Assisted suici de should be legal. It should not even be a topic that is debated anymore. American citizens are, according to the Declaration of Independence, â€Å"endowed with inalienable rights† but apparently the right to die with dignity is excluded somehow. The U.S. Constitution does not prohibit assisted suicide. It’s illegal mainly due to religious zealots who raise objections for ideological reasons. They think the practice is society â€Å"playing God† with end of life situations. However, they have no problem with society â€Å"playing God† by using extraordinary high-tech procedures to extend peoples life. Assisted suicide is also known by the term â€Å"mercy killing.† It is defined as a form of Euthanasia which means â€Å"good death.† All of these terms describe a circumstance when a terminally ill patient is administered a lethal dose of medicine or is allowed to die without anyone else actively involved in the process such as not resuscita ting the patient or the patient being removed from a life support system. A doctors’ involvement could be to use intravenous means to administer the lethal dose. The terminally ill patient then activates a switch, lever, etc. which dispenses the drug or the doctor could administer the drug(s) themselves. (Kure, 2011). Physicians, lawyers and philosophers have argued the idea of assisted suicide since the beginnings of civilization but the general public discussion pertaining to legalization is but a few decades old. The questions regarding assisted suicide have moved beyond the realm of who is allowed to speak for the unconscious patient and into that of the rights of the patient. According to common law found in the majority of, if not all, legal jurisdictions, incurably ill persons who exhibit mental competency are able to request that life-savings methods be withheld even when this choice will certainly result in their death. This right found in common law is based on the importance society places on self-determination. All agree that people should to be protected from unwanted, offensive and non-consensual touching by anyone else. These local common laws have their foundations in the U.S. Constitution at both the federal and state level. On the federal level personal rights stem from liberty provision within the Due Process Clause located in the Fourteenth Amendment of the Constitution. At the state level, New Hampshire’s state Constitution, as an example, individual rights

Engineering - Sustainability and Innovation Assignment

Engineering - Sustainability and Innovation - Assignment Example The place should exude warmth and confidence. Sustainable construction is therefore very critical to the economic, social and environmental fabric of society. Estimates suggest that in developing countries about 40% of the human population would be living in cities compared to 20% that was present in 1950. (Sustainable Building & Construction, 2003) Around 40,000 sq.km of cultivable land is being urbanized every year. The worst areas that are going to be hit are the developing countries where infrastructure boom is coming up in the next few years. It is understood that the building designs are capable of lasting 80-100 years on an average. It is therefore very important that a construction having such large scale life should be built in a sustainable manner so that fits into the surrounding environment. It can be argued that while lands that are used for irrigation being converted to concrete jungles would inevitably lead to loss of farming and have an adverse effect on the food chai n around the world, rise in construction activity would lead to increase in jobs in the construction sector. Estimates indicate that around 3 trillion US dollars are being pumped into the construction sector annually and this accounts for 10% of the world GDP. (Moavenzadeh F, 1994) An estimated 111million worker of which 74% belong to the developing countries and of this 28% engaged in industrial development is what has been found out per the last census. (Sustainable Building & Construction, 2003) While it cannot be argued that construction is a sector that generates large scale employment, its drawback is lack of job security and personal health issues of working personnel. This sector is also predominantly male and since most of the jobs are in the unorganised sector their issues are not aptly addressed. A survey conducted in UK indicated that around 600 workers die annually due to asbestos intoxication, 30% suffer skin disorders and around 40% have bone and ligament fractures. ( Sustainable Building & Construction, 2003) About 55000 workers die annually due to construction related accidents. Environment related incidents are the next major cause of concern which has strengthened the call more strongly for sustainable construction. Deforestation and illegal mining with scant respect to the nature is harmful to the environment. Apart from this energy a large amount of energy is also consumed in transporting these raw materials from its area of origin to other developing countries. (Bossink & H.J Brouwers, 1996) A concept introduced in 1970 called the embodied energy tries to calculate the sum total energy that would be required right from its inception stage, transportation and finally till the construction stage. The effort always is to limit the amount of embodied energy so that one can move towards sustainable construction. The major source of greenhouse emissions is usually for the production of cement which entails a significant amount of fossil fuel bur ning. Estimates suggest that by 1950 the CO2 emissions would be around four times the present amount. (Sustainable Building & Construction, 2003) It has also been suggested that in the interests of the environment it is best that a greater building density is better compared to a low building density. This would entail