Says law Essay - 1157 Words

ECOP2612 ESSAY What is Say’s law? Compare and contrast the role that it plays in the Classical approach and Keynes’ approach. Draw the implications for the design of monetary and fiscal policies to stabilize an economy. One of the most highly contested and controversial economic concepts is Says law, or the law of markets, an economic theory associated with French economist and businessman Jean-Baptiste Say. The law itself is embedded in ambiguity, and is usually associated as being one of the underlying assumptions in classical economics. Says law is frequently described as supply creates its own demand which is a term that was made famous by John Maynard Keynes in his General Theory. This essay however, will use a†¦show more content†¦They also believed that excessive levels of saving wouldnt reduce demand, as it would eventually be injected back into the economy in the form of investment, which would then lead to production, and ultimately wealth creation which would then create to purchasing power (Baumol, 1999, p. 196). Moreover, this meant that the role of Says law in Classical economics was one which focused on the relationship between production and income. Skinner (1967, p.157) obs erves this and points out that the original formulation of Says law was central to international trade. Say believed that if two nations are trading commodities, then those nations must first produce their own commodities before they have the power to purchase each others commodities. This is where one of the central points in Says law comes into affect – the idea that if one nation is producing a greater quantity of goods then the other, then trade will be limited, not because of overproduction, but because of underproduction in the other country, thus creating a system where issues are caused by a failure of supply. According to Says law this principle can be applied to any market. Ultimately, what this implies is that the production of goods and services will generate enough income so that other commodities can be purchased, it is the idea that one must first produce before they can purchase. Therefore, general gluts that supposedly occur when supply exceeds demand cannotShow MoreRelatedMcCann v Wal-Mart Inc. Essays715 Words   |  3 Pagesaround 11:15 pm. Issue: 1. Is the defendant liable for false imprisonment because the employees told the plaintiffs they must remain in the store until the police arrived? 2. Under Maine law did the jury find â€Å"actual physical restraint,†Ã‚  when the defendant said the police were on the way? 3. Is Maine’s law even sufficient enough to classify as a reasonable â€Å"confinement†? Decision: 1. Yes. The Maine District Court found the defendant’s guilty of falsely imprisoning the plaintiff in the Wal-MartRead MoreJustice And The Law Of The Land But, Most Important God s Law983 Words   |  4 Pagesdetermine whom I believe is right or wrong in these discussions. I have learned a lot about laws and how this countries judicial system works and operates. Justice Truepenny’s reasoning is real cut and to the point, is it clear that he doesn’t deviate from his logic or the law for any reason. I am not a practicing Christian but I do believe that we should follow not only the law of the land but, most important God’s law. I believe that Truepenny’s views isn’t very sympathetic but I do believe we shouldRead MoreRhetorical Analysis Of The Law Of Moses 1745 Words   |  7 PagesHis people the Law of Moses to guide them and to help set up their civil courts. The Law of Moses are boundaries set by God to keep His people faithful to Him. Reading biblical law integrates three research groups, law, jurisprudence, and literary theory. While giving a new method of interpretation. It focuses on the character and events and how they are described. While rhetorical elements serve to expound on the content, the communication process through the writer to give the law to the audienceRead MoreThe Law Of The Corn La ws1338 Words   |  6 Pages Another way in which a comparison of the two thinkers can be given with respect to the Corn Laws is through their positioning on the issue of Say’s Law. To introduce this concept, Jean-Baptiste Say developed the Law of Markets, which is commonly referred to as Say’s Law, in his A Treatise on Political Economy. He maintains that in order to consume, one must provide supplies for another’s demand in order to earn a unit of account to consume goods, meaning a consumer must also be a producer (Say,Read MoreEconomics : Classical Economics And Keynesian Economics1665 Words   |  7 Pages† You will understand that from those thoughts Adam Smith created the foundation of classical economics. It is key to point out the basic structure or assumptions that form classical economics. The three theories that sticks out to me are: Say’s Law: Say’s law suggests that aggregate production in an economy generates enough income to purchase all the economy output â€Å"Supply creates its own demand†. Basically any goods produces, has to be bought. Second important theory, saving and investments areRead MoreThe Classical Economists and Keynes: the Debate on Government Policy Activism1189 Words   |  5 Pagesbelief the government should play an activist role in combating unemployment. One of the most important tenets of classical economics is that market economies automatically tend toward full employment. This belief is largely based on the principle Say’s Law. This principle assumes that a rational individual will spend their money expediently and not hoard money. What this idea has to add to the classical economist view that the economy tends towards full employment is that if a business want to produceRead MoreThe Classical View Of Employment And Income1523 Words   |  7 Pagesview of full employment, and the Keynesian view of full employment to help you understand better how each school viewed full employment, and how to achieve it. The classical view gives you a look into the supply side of the economy using Say’s law and the Say’s law flow diagram. Most economists followed the classical view up until the 1930’s. Then John Maynard Keynes influenced the world with the Keynesian Revolution. Keynes believed that demand is what s hould be the focus instead of supply. He alsoRead MoreLoneliness in Of Mice And Men by John Steinbeck Essay999 Words   |  4 PagesGeorge plays solitaire. Solitaire is a game you play on your own so it indicates more loneliness. On page 57 there is an example of Slims opinion. Slim is very respected by all the guys that work on the ranch and his opinions are like law. Slim comments there are not many guys that travel around together and that maybe the whole world is scared of each other. On page 65 George and Slim have a conversation together. Slim is very intelligent and is very interested and curiousRead MoreJohn Maynard Keynes s Law Starting With Aggregate Demand And How Consumption Together With Investment1848 Words   |  8 PagesDemand would tend to equal any given Supply† In order to discuss the statement in the title, I will first talk about J. M. Keynes and give some general information regarding his life and career. Following I will discuss about Keynes criticism of Say’s Law starting with Aggregate Demand and how consumption together with investment are in relation to income. Afterwards I will highlight the role of investment and what the policy implications are. For the final part of this essay I will conclude withRead MoreThe Theory Of The Classical School1694 Words   |  7 Pagestheir rapid clearing† (classical theories of economics); the economy would prosper. Any boundaries in the markets would be dealt with by the government whose role is to ensure the free working of market theories using the supply side policies and Say’s law. If the economy was left to itself then it is assumed that it would tend to full employment equilibrium. This would happen if the labour market worked properly. As it can be seen in the diagram the wages are too high, therefore unemployment

Essay True North Book Review - 1802 Words

Destiny, with credit to Professor Nettifee brought the book True North: Discover Your Authentic Leadership into my life and I want to bring it into the lives of others. More specifically those who may believe they weren’t born with the characteristics or traits to become a leader or those who have not found their passion or purpose in life; their â€Å"True North.† The book, written by Bill George and co-author Peter Sims, compiles a series of interviews with 125 managers from Howard Schultz of Starbuck’s to Dan Vasella of Novartis. The interviewees guide readers through their journey to become the leaders they are today; discussing their failures, successes, obstacles, personal tragedies and triumphs. The stories of each manager prove the True†¦show more content†¦They temporarily lose sight of what is really important by focusing on themselves; personal success vs. team success. They can get back on the path towards authentic leadership by realizing le adership is not about themselves, it is about empowering others. Transformation from â€Å"I† to â€Å"We† This transformation occurs in Phase II of the leadership development. This is when we realize that leadership is not about giving subordinates directions and orders to follow. It is about empowering people to grow to their fullest potentials. Part II: Discover Your Authentic Leadership Knowing your Authentic Self The book teaches the important of being self-aware in order to choose the right role for you, be comfortable in your own skin, act consistently in different situations, gain trust of others, build strong relationships, and to know your strengths and weaknesses. Without self-awareness, we would be easily thrown off our True North path. The book provides a method for finding your true self called â€Å"Peeling Back the Onion.† The process begins with looking at your outer layers such as body language, attire, appearance and leadership style and then goes deeper to strengths, weaknesses, motivations values and then to understanding your life story, vulnerabilities, etc and then finally to your authentic self. See Exhibit 2 in the Appendices. Practicing Your Values and Principles UnderstandingShow MoreRelatedEssay on True North Book About Leadership Review1774 Words   |  8 PagesDestiny, brought the book True North: Discover Your Authentic Leadership into my life and I want to bring it into the lives of others. More specifically those who may believe they weren’t born with the characteristics or traits to become a leader or those who have not found their passion or purpose in life; their â€Å"True North.† The book, written by Bill George and co-author Peter Sims, compiles a series of interviews with 125 managers from Howard Schultz of Starbuck’s to Dan Vasella of Novartis. TheRead MoreTrue North Is Leaders Essence Of Who You Are Our Deepest Beliefs, Values, And The Principles1170 Words   |  5 PagesSummarize the key argument or idea of the book True North is leaders’ essence of who you are, your deepest beliefs, values, and the principles you lead by. It is about a leader being genuinely human at a profound level. It is an internal compass that drives a leader through life. True North is leader’s adjusting point that helps him/her stay on track. It is unique for each individual based on individual’s life stories and crucibles. True North is based on what is most important for a leader, forRead MoreBook Review : A Review Of A Book Review1431 Words   |  6 Pages Book reviews are just that: a review of a book. They can be used for news articles, blogs, or academic journals. A book review is more than just a book report. It can give the reader more of an insight into not just the book, but the author as well. Most authors write of what they know. For example, some authors have backgrounds in law enforcement so they write about cases they know or have worked. Other authors research groups of people, for example the Knights Templar, and write of whatRead MoreAnalysis : Discover Your True North1395 Words   |  6 Pagesfellow at Harvard Business School, where he has taught leadership since 2004. He is the author of four best-selling books: 7 Lessons for Leading in Crisis, True North, Finding Your True North, and Authentic Leadership, as well True North Groups. His newest book, Discover Your True North, was published in August of 2015 along with its companion workbook, The Discover Your True North Fieldbook. Leading that is consistent wit h the core values and personality of the leader and one who leads from anRead MoreNothing From The Korean War On North Korea1399 Words   |  6 Pages Book Review Nothing to Envy: Ordinary lives in North Korea The novel,Nothing to Envy: Ordinary lives in North Korea, tells the stories of six North Korean citizens from Chongjin, third largest city in Democratic People s Republic of Korea. After the Korean War in the 60th, the aid from Communist China and Soviet Union caused industrial growth in North Korea. During this time the daughter of a South Korean Prisoner of War described the hardships she faces as a citizen with tainted blood. TheRead MoreHannover Bates Chemical1006 Words   |  5 Pagesstated â€Å"that 34 years of experience don’t count for anything.† Based on the reading, Sprague will have to win over his teams perception of him in order execute his plan of increasing gross profits. Performance Comparison When Sprague took over the north east district he knew there was work ahead. One senior executive mentioned to Sprague that many are expected him to fail. This was a clear sign, he was going to work with some very disgruntle employees. In the northeast district, one of his† top prioritiesRead More The Next Christendom: The Coming of Global Christianity Essay1217 Words   |  5 Pagesexpanding quickly and will soon dominate Christianity. These are all common claims made about Christianity that many people believe, yet Philip Jenkins claims and proves them untrue in his book, The Next Christendom: The Coming of Global Christianity. According to his book, Christianity is moving out of the global north and into the global south. In fact, Christianity is growing rapidly in countries such as Africa, Asia, and Latin America. He also writes about how Africa and Brazil will, within the nextRead MoreThe Death Of North Korea Essay1102 Words   |  5 Pagesfear, terror, and despair in the hearts of millions. This so-called leader, terrorized the people of North Korea since April 11th, 2012; his cruelty is subject to the fact he has no mercy towards anyone who speaks against him, no matter if they are a civilian or political figure. The supreme leader is perceived as a devil, as he has total control over the country, using his power to manipulate the North Korean media. People are unaware that there is a genocide that is happening at this very moment. AlthoughRead MoreThe Strange Career of Jim Crow by C. Vann Woodward1063 Words   |  5 PagesStrange Career of Jim Crow for a purpose. His purpose was to enlighten people about the history of the Jim Crow laws in the South. Martin Luther King Jr. called Woodward’s book, â€Å"the historical Bible of the civil rights movement.† (221) Martin Luther King Jr.’s quote revealed the true importance of Woodward’s book. Woodard’s book significance was based on it revealing the strange, forgotten facets of the Jim Crow laws. Assumptions about the Jim Crow’s career have existed since its creation. WoodwardRead MoreWhat Are Qualities Of A Good Person?948 Words   |  4 PagesDescription of Text Set The following books is a collection intended for a kindergarten through first grade setting. The collection includes problems that each main character needs to resolve through their good qualities. For this text set my question I would like to include in my class room is; â€Å"What are qualities of a good person?† I believe that this set of books will help students gain qualities to better themselves. This text set will allow young students to see positive role models and what

Interview Profile Paper - Free Essay Example

Sample details Pages: 5 Words: 1436 Downloads: 6 Date added: 2019/06/24 Category Management Essay Level High school Tags: Profile Essay Did you like this example? To be successful the field of business, you must learn how to handle and manage risks. The textbook states that risk is best understood as a phenomenon that affects multiple levels of social organization(Waldron Kassling, 2018, p. 4). Don’t waste time! Our writers will create an original "Interview Profile Paper" essay for you Create order The ability to express an individuals ideas and messages while managing risks will allow you to grow as an employee/employers. I have conducted two interviews with business individuals (Brandon Reeser and Paul Williams) who are positioned highly in sales within their respected business, what I found to was how to understand and use effective communication in businesses that can help negotiations and managing risk within organization. I chose to interview two individuals because one works for a small business with around two hundred employees while the other is employed by a large corporation with around three thousand employees. Taking this information and effectively implement the course material can help optimize my learning experience and develop a better understanding of how it applies in the real world. Safari Books Online is a relatively small company that has close to two hundred employees working for the company. Brandon Reeser is a Senior Accountant Executive at Safari Books Online, this means he is in charge of all outside sell, acquiring new businesses and accounts, and managing small accounts. Essentially he is in charge of moving the entire sales process along smoothly. In an interview dealing with how he became successful in sales Brandon said Sales are used every day in every situation, and I am particularly good at selling myself to people before I ever sell my product. On a daily basis Reeser is communicating with others, whether it is on in person, phone call, email, video chat, as well as texting or instant messaging. The most powerful channels of communication, Reeser states anything that you can add a personal touch, make them believe you care and put in that effort. Examples of these channels are face to face or video chats, having that interaction that makes the message more effective. While the weaker channels are going to be text messages and emails because it lacks the immediate feedback and leaves room for misinterpretation. When communicating with anywhere from thirty to fifty people in a day, its critical to manage time with everyone to make sure everythin g is running as efficiently as possible. After being asked about non-verbal and verbal communication Reeser claimed You will see it every single day, either reading a client to know how to approach them or if they seem distracted, or also verbally making sure everyone is on the same page and understands the next step. Having a clear understanding of the information and ideas is necessary to have effective communication because. Managing to make what you are saying match the things that you are doing is a key way to gain credibility and trust from your audience. Reeser states that The best way to create a lasting impression is your actions not your words. Knowing when and where to talk is important as well as knowing who you are talking to, knowing to use a more direct approach or indirect, usually just depends on the situation. By trying to keep the messages positive, it allowed Reeser to gain the trust and confidence in his team and vice versa. A tip Brandon Reeser offered me was that silence is a powerful tool if you use it the right way meaning the audience now had to think about what has been said and has an opportunity to present any thoughts they may have had. All these techniques and concepts can help climb up the ranks and get a great job where you love what you are doing.The next company we are going to focus on is Takeda Pharmaceuticals, which is a much larger corporation with three thousand emplo yees. In Takeda Pharmaceuticals, Paul Williams is a Strategic Account Manager who is tasked with leading a team of pharmaceutical sales representatives. The job this team has to accomplish is to work with hospitals, medical schools, infusion centers, and top doctors to manage the sale and billing of the products. He is also responsible for the training of others on how to infuse the medicine. Williams said I have always wanted to go into the medical field, but I was always better at working with people and making sells, this is the perfect middle ground. After being with the company for fourteen years, he has held ten different job positions. He said the reason he has done so well in the business was because when you love what you do and believe in it, others see that, recognize that you care, and they will listen to what you have to say. With this jobs comes a lot of communications by email, text messages, phone call, or whatever else you can to deliver the message to the intended audience. When dealing with clients, there are signs non-verbally and verbally that will dictate how the conversation will go. If a customer seems in a rush and distracted, these non-verbals help to adjust and find a different approach that could be more effective. Or if a client is verbally saying one thing but then doing another, then it is not sincere, this allows for an evaluation whether t o keep pushing or to move on. An average work day, Williams could talk to twenty people in one account, then talk to three or four accounts in that day. His approach to the people interact with depends on who and what the subject is about but always try to avoid negative messages. Williams stated when talking to others, you have to make sure it is honest and real, make it seem like their input is valuable, that is the best way to communicate. To bring value to the team it is good to create a lasting impression that makes people know why you are here and this can be accomplished by always look and act profession and being resourceful and knowledgeable (Paul Williams). It is always significant to give the audience reasons why they should listen to you or believe the things that are stated. The last thing Williams had to say was it is easier to communicate verbally and non-verbally with other the more passion you have for what you do. The key to success was not in the communication itself, but how to deliver the communication is what is matters the most in business. The reason I interviewed two men who are high up in sales is because that is a field that I would be interested in exploring and getting into. Jobs in marketing, sales, and service require creativity and good people skills. These people perform specific duties such as managing client relationships, and had the ability to be team players (Careers in Marketing, Sales, and Service). These are qualities that I believe I have and can train becoming successful in this area. There is always a need for Sales as long as business is around and there are also so many options to go into. One job I researched to find more information about was a Sales Representative. The job description is a Sales Representatives of technical and scientific products are responsible for generating and increasing sales of products for manufacturers and wholesale distributors (Echaore-McDavid). Someone is this position can make anywhere from $33,000 to $122,000 a year, with the education level to enter is a Bachelor s Degree or higher. This is interesting to me because it is a risk and it is all on you to make your sells and get more money or be not be good at the job and not make any money.In conclusion, whether you are employed for a big corporation, or a smaller business it does not change the need to communicate. Using the right tools and practicing effective communication is necessary to move up and be successful. I have already seen two examples of people who could get amazing jobs because they understood how to communicate and interact with others in a workplace. Utilizing research and listening to the experiences from others is a great way to better understand how to communicate and how to be successful. In business, the pen is truly mightier than the sword. Works Cited Careers in Marketing, Sales, and Service. Fergusons Career Guidance Center. Facts On File, Inc. Web. 2 October 2018. Echaore-McDavid, Susan. Sales Representative. Fergusons Career Guidance Center. Facts On File, Inc. Web. 1 October 2018. Reeser, B. (2018, September 28). Personal Interview. Waldron, V. R., Kassing, J. W. (2018). Negotiating workplace relationships. San Diego, CA: Cognella Academic Publishing. Williams, P. (2018, October 1). Telephone Interview.

The Hudson RIver School Of Artist Essay - 1534 Words

The Hudson River School The Hudson River school represents the first native genre of distinctly American art. The school began to produce art works in the early 1820s; comprised of a group of loosely organized painters who took as their subject the unique naturalness of the undeveloped American continent, starting with the Hudson River region in New York, but eventually extending through space and time all the way to California and the 1870s. During the period, that the school’s artists were active (c. 1820-1870) the nation was in the process of undergoing momentous political, social, and economic change. The works that the Hudson River School painters comprised reflected the changes that were taking place across the†¦show more content†¦Man’s small stature implies a harmony with nature as well as his place in God’s larger plan. The artists use the physical geology of America to show the vast differences between Europe and America they do this in the form of mountains. To Cole, the sky represented â€Å"the soul of all scenery†, the truly sublime in the landscape as well as spirituality. The lack of ruins was one of the surest signs that America was both young and new and free of the corruption of monarchy. The corruption of monarchy was implied by the presence of ruins on the landscape. Cole wrote, â€Å"You see no ruined tower to tell of outrage - no gorgeous temple to speak of ostentation; but freedom’s offspring - peace security, and happiness, dwell there, the spirits of the scene.† Storms had several different meanings. While they would eventually come to represent both the coming sectional crisis and tension over the encroaching technology that was threatening the landscape, their original purpose was to represent the dark and violent side of Mother Nature. Trees came to be thought of as the true hero’s of Hudson River art, thus is expressed in this quote from Cole. â€Å"They are like men...they exhibit striking peculiarities, and sometimes grand originality.† The trees of the American landscape have a primitive quality that sets them apart from Europe, and their autumnal color â€Å"surpasses all the world in gorgeousness.† Water Falls came to representShow MoreRelatedAn American Artist And Member Of The Hudson River School1255 Words   |  6 Pages(1830-1902) was an American artist and member of the Hudson River School. He was one of the first of the Hudson River Artist’s to paint beyond New York and see the unexplored west. Bierstadt’s paintings focused more upon the sublime in nature. His painting titled â€Å"Indian Summer Hudson River† was completed in 1861. It is oil on canvas painting, which measures twenty-four inches in height by forty-one inches wide. One looks out across a secluded section of the Hudson River. It is late afternoon, andRead MoreFormal Critique of â€Å"Indian Summer Hudson River† Essay1466 Words   |  6 Pages(1830-1902) was an American artist and member of the Hudson River School. He was one of the first of the Hudson River Artist’s to paint beyond New York and see the unexplored west. Bierstadt’s paintings focused more upon the sublime in nature. His painting titled â€Å"Indian Summer Hudson River† was completed in 1861. It is an oil on canvas painting, which measures twenty-four inches in height by forty-one inches wide. One looks out across a secluded section of the Hudson River. It is late afternoon, andRead MoreAnalysis Of The En Plein Air Paintings By William Cullen Bryant1143 Words   |  5 PagesDuring the 19th century, the en plein-air paintings were introduced to many artists. Since thatï ¼Å'natural light became particular important to the Hudson River School. Also, art and literature were constantly entwined, such as American Romanticism. Significant individuals became familiar with one another’s work, resulting in inspiration that led to creative works that pay homage to another artists’ work. For instance, Asher Brown Durand’s Landscape-Scene From â€Å"Thanatopsis† was inspired by the romanticRead More thomas cole Essay1698 Words   |  7 Pagespainting of the Catskill Mountains and Hudson River. He is said to have made a big impact on artists like Frederick Church and Albert Bierstadt. Sadly, Cole died early of a disease on February 11, 1848. But his life wasn’t fruitless, he helped lead the first school of landscape called the Hudson River School into the making; were many more leading artists came. Thomas Dougherty, Asher Brown Durand, Albert Bierstadt, and others came from the Hudson River School and they all became romantic realistsRead MoreTaking a Look at Landscape Paintings1821 Words   |  7 Pagesnarrative and ultimately leads to further discussion or debate after the first viewing. In the early 19th Century, many artists around the world were stepping away from the norm of historical paintings for famous clients or their government and entering the realm of painting landscapes for themselves. America was still a relatively new country and its young artists were eager to burst onto the world art scene and show what they could do. America was a clean slate and ready to make its markRead MoreThe Wadsworth Athenaeum Of Art1419 Words   |  6 Pagesimpressed by its extensive collection of American Art that features paintings from the Hudson River School, Georgia O’Keefe, and Norma Rockwell, but also sculptures by other famous artist. During High School, I took an Environmental Science course that did not only cover the scientific aspects of the subject, but also the how the environment has been immortalized. We studied the Hudson River School and artist like Thomas Cole, Frederic Edwin Church, and Albert Bierstadt, whose works all featuredRead MoreRomant icism : Martin Heade And The Hudson River School 1312 Words   |  6 Pagesstudio in a building that housed many of the famous Hudson River School artists. (Martin Johnson Heade Biography) Hudson River School was a mid-1800’s American art movement embodied by a group of landscape painters whose aesthetic vision was influenced by Romanticism. The influence of the Hudson River School ‘squad’ is very evident in Heade’s early landscapes and even his later still life’s. It has been debated whether or not he was a Hudson River school â€Å"student†, but there is no plausible evidence thatRead MoreThomas Cole: Landscape Artist592 Words   |  2 Pageshim his renown as an artist. His art is recognized as possessing all the attributes of Romanticism. Cole’s father owned a wallpaper business, but his disinterest in this field drove him, after receiving elementary art lessons, to travel to Ohio and Pennsylvania. Paintings displayed at the Pe nnsylvania Academy of Fine Arts kindled inspiration, and his pursuit in art continued. In 1825, he visited New York City where he painted genuinely sublime landscapes along the Hudson River and the Catskill MountainsRead MoreThomas Cole and The Hudson School of Romantic Landscape534 Words   |  2 Pages The first American group of painters, The Hudson School of Romantic Landscapes, was lead by Thomas Cole, who was born in 1801 in England. He went to Philadelphia and Ohio as a traveling portrait painter in 1819. In addition, he traveled to Europe where he painted many Italian subjects, and later many of the scenes in his paintings came from his European studies. He died in 1848 at the age of 47. Cole’s artwork represents the Romantic style of painting, especially in his famous work The Oxbow (FulwiderRead MoreThe Dia Art Foundation First Opened Dia Beacon1531 Words   |  7 PagesThe Dia art Foundation first opened Dia Beacon in 2003 on the banks of the Hudson River in Bea con, New York. It was originally established by Philippa de Menial, Heiner Friedrich, and Helen Winkler in 1974. Dia Beacon opened in what was once a Nabisco box printing factory that they transformed into a museum. In this museum they display Dia’s collection of art projects from the 1960s to today. Dia offers special programs that include gallery talks, events and an education program. Since its establishing

Sample Midterm for Microeconomics Essay - 2514 Words

CONCORDIA UNIVERSITY Department of Economics ECON 201 Instructor: Ivan Tchinkov Exam duration: 60 min. SAMPLE MIDTERM EXAMINATION WITH ANSWERS Version 1 Instructions: 1. Write your answers on the IBM SHEET ONLY. 2. Use a PENCIL. 3. Put your NAME and ID on the IBM sheet. 4. Put the EXAM VERSION on the top right corner of the IBM sheet. Multiple Choice Questions (2 marks each). 1. Which of the following statements is correct for a society that emphasizes the production of capital goods over consumer goods? A) The society could enjoy the same quantity of capital goods and a larger quantity of consumer goods in the future. B) The society would have to save more now than a society†¦show more content†¦B) There is disagreement over what is, and what is not, a legitimate goal for society to try to achieve, possibly because some economists are left wing and others are right wing. C) The discipline is so wide and complex that no one person could be expected to cover the whole range of possible knowledge. D) There is truth in all of the above. 12. Other things equal, when the price of a good increases, we would expect: A) quantity demanded to increase. B) demand to decrease. C) supply to increase. D) quantity supplied to increase. 13. A negative relationship exists between changes in price and: A) quantity supplied. B) supply. C) quantity demanded. D) demand. Use the following to answer the next 6 questions: [pic] 14. In figure 3.4, what are the implications if the price of this product is $8? A) The price would be above equilibrium. B) There would be a shortage of 300 units. C) There would be a shortage of 600 units. D) There would be a surplus of 300 units. 15. In figure 3.4, if the price of the product is $8, how many units would be sold? A) 400 units. B) 500 units. C) 600 units. D) 800 units. 16. In figure 3.4, what is the maximum price at which the quantityShow MoreRelatedThe Grizzly Bear Lodge4225 Words   |  17 Pagesmillions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.   Below is a small sample set of documents:   L08-Boolean-exp1 King Fahd University of Petroleum amp; Minerals gt;gt; ICS gt;gt; 102 (Fall, 2010) King Fahd University of Petroleum Engineering Information amp; Computer Science Department ICS102 Lecture 8: Boolean ExpressionsRead MoreVarian Solution153645 Words   |  615 Pagesdirection 10 Chocolate cake 26 PREFERENCES (Ch. 3) 3.8 (0) Professor Goodheart always gives two midterms in his communications class. He only uses the higher of the two scores that a student gets on the midterms when he calculates the course grade. (a) Nancy Lerner wants to maximize her grade in this course. Let x1 be her score on the ï ¬ rst midterm and x2 be her score on the second midterm. Which combination of scores would Nancy prefer, x1 = 20 and x2 = 70 or x1 = 60 and x2 = 60? (20,70)

Franco Zeffilis Film Version of Romeo and Juliet Essay Example For Students

Franco Zeffilis Film Version of Romeo and Juliet Essay Franco Zeffilis Film Version of Romeo and JulietRomeo and Juliet is a play about two young adults that fall in love with eachother. The only thing that is holding these tow lovers back is the feudingbetween the two families. Was Franco Zeffilis film version of the play Romeo and Juliet an improvementover Shakespeares play? Yes, Franco Zeffellis film was an improvement overShakespeares play because he changed the dialogue a little, he made the locationbetter, and the Tybalt and Romeo duel was action packed. I really liked the real elaborate scenery in the movie. I liked all the nicelooking buildings. I also liked the scenery because it was real open and rightin the center of the city. Franco Zeffelli really added a lot to the great battle scene between Romeo andTybalt. In the actual play the fight sounded stupid and it seemed like itbarely lasted a minute. In the movie the fight scene was great because it was along fierce fight. Franco Zeffellis film was a great improvement over Shakespeares play. He madeit better by taking out some of the boring dialogue. He changed the sceneryaround a lot. The fight scene was a lot better also. Over all the film wastwice as good as the play.

Accounting Accounting for Business Decisions

Question 1: (a)Provide an executive summary of your companys background relating to business structure, operations, services and all other business activities that are conducted, etc. (b)Use the annual report for the year ending 30 June 2014. Your group will need to review the major sections of this report in order to familiarize yourselves with the content of each of the financial statements and appropriate notes to the financial statements. Review the balance sheet of the company and indicate the amount of the following: a) Total current assets b) Total non-current assets c) Total current liabilities d) Total non-current liabilities e) Total stockholders equity Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial condition of the company.(c) Review the income statement and indicate the following: a) Total (operating) revenues b) Cost of Goods Sold (if relevant) c) Total expenses (before income taxes) d) Any non-operating (or extraordinary) gains and losses e) Earnings per common share Compare the above figures with the previous year and compute the percentage increase or decrease and comment on the comparative financial operation of the company. (d) Review the statement of cash flows for the most recent year and indicate the following: a) net cash inflow (outflow) from operating activities b) net cash inflow (outflow) from financing activities c) net cash inflow (outflow) from investing activities d) net increase (decrease) in cash during the year Analyse the Cash Flow Statements for the last 2 years and comment on the cash position of the company. (e) Review the stockholders' equity section in your chosen company's most recent year-end balance sheet and compare that with the previous year-end balance sheet. Compare percentage increase or decrease. List the stockholders' equity account balances and number of outstanding shares from these two balance sheets and compute the increase or decrease for each during this past year. Question 2: Recently you received the following offers from the organizers of Melbourne Tennis Open 2015: Now you can buy premium tickets to the coming Melbourne Tennis Open 2015 with signatures of your choice of popular tennis players like Rafael Nadal, Roger Federer to name a few. However, there are only 3,000 tickets that have these collectible features. i Retail price: $300 each ii Tennis club members: $280 each iii To order, complete the online order form @ www.MTO2015.com.au. iv Allow 5 days for delivery 1. Describe the alternatives the organisers have in relation to recognizing revenues. Which would you recommend and why? 2. Would your answer differ if you included in the sale of the tickets that if the customers are not happy the tickets may be returned within one month? 3. Let us assume that the organisers contracted a selling agent that takes care of all selling and marketing responsibilities, gets 10% as commission. The policy states that no return no exchange. When should the organisers recognize revenue? 4. With regards to the authenticity of the signatures, do you think the accounting profession have the skills to provide the services to authenticate? Discuss and show examples. 5. Discuss the importance of Cost of Goods Sold(COGS) in this case. How is it applied? 6. Let us say that the signatories will get a fixed fee for the effort, when would the organisers recognize the expense? 7. Assume that the signatories will get a 5% commission on the sales of their signed tickets. When would the organisers recognize the cost? Answer 1: (a) Myer Holdings has been operational for over more than a 100 years, and belongs to the fashion, lifestyle and clothing industry. With time, it has come out to be Australias largest departmental store along with an exponentially capturing online market (Myer, 2014). The gross sales for the financial year ending 2014 is said to be close to a $3 billion mark, which itself reflects the kind of market hold Myer has in Australia. As of now, there is over 68 departmental stores pan Australia, which is only going to be increasing in the coming times. The technological revolution had also forced Myer to expand itself in the digital market and therefore Myer has come up with a digital online market space as well facilitating through mobile applications. Thus, the existence of a multi-channel connect with customers empower them with a broader market segment, also catering to the diversified interests of the customers. Myer Holdings Limited has a total of 11 core products which are womenswear; menswear; youth; childrenswear; intimate apparel; beauty, fragrance and cosmetics; home products; electronics; footwear and accessories; toy lines; and lastly, general merchandise. The company has operations in multiple facilities and has suppliers from across the globe. (b) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. The total current assets for the period of 2014 would be $480,460. Now, the total current assets for 2013 were $479,176. It has presently increased by $(480,460 479,176) = $1,284. It reflects an increase of 0.267%, a very insignificant increase in the total current assets. 2. The total non-current assets for the period of 2014 would be $1,452,204. Now, the total non-current assets for 2013 were $1,460,529. It has decreased by $(1,460,529 1,452,204) = $8,325. It reflects a decrease of 0.569%, which is relatively insignificant. 3. The total current liabilities for the period of 2014 would be $530,881. Now, the total current liabilities for 2013 were $528,658. It has increased by $(530,881-528,658) = $2,223. It reflects an increase of 0.42%. 4. The total non-current liabilities for the period of 2014 would be $508,370. Now, the total non-current liabilities for 2014 were $505,405. It has increased by $(508,370 505,405) = $2,965. It reflects an increase by 0.586%. 5. The computation formulae for calculating stockholders equity is the balance of total liabilities being deducted from total assets (Keythman, 2014). The total assets are current assets + non-current assets = $1,932,664. The total liabilities would be current liabilities + non-current liabilities = $1,039,251.The total stockholders equity for the period of 2014 would be $(1,932,664 1,039,251) = $893,413. Now, the stockholders equity for 2013 would be total assets minus total liabilities, $(1,939,705 1,034,063) = $905,642. Therefore there is reduced shareholders equity at the moment by $12,229. This means that the total stocks owned by the stockholders of the company have decreased from 2013 to 2014 by 1.35%. (c) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. Total operating revenues The revenue from sale of goods were $2,612,167 and other operating revenues were $128,769. Therefore the total operating revenue for 2014 was $(2,612,167 + 128,769) = $2,740,936. Likewise, for 2013, the total revenue from sale of goods was $2,621,242 and other operating revenues were $126,293. Therefore, the total operating revenue for 2013 was $2,747,535. There has been a decrease in the operating revenue by $(2,747,535 2,740,936) = $6,599, indicating a 0.24% decrease. 2. Cost of Goods Sold (COGS) The COGS for 2014 comes out to be $1,455,066. Now, the COGS for the year 2013 was $1,443,005, indicating an increase in the current COGS amount by $(1,455,066 1,443,005) = $12,061. This reflects an increase by 0.835%. 3. Total expenses (before income tax) The Selling expenses for the current year are $811,718 whereas the administration expenses come out to be $320,204. Thus, total expenses are $1,131,922. Likewise, for the year 2013, the total expenses would be $(783,800 + 306,338) = $1,090,138. On comparison, we figure out that the total expenses in 2014 have increased by $(1,131,922 1,090,138) = $41,784. This would indicate an increase in expenses by 3.832%. The sudden increase in costs must stand out to be justified. 4. Any non-operating (or extraordinary) gains and losses An amount of $6,356 was earned in the year 2014 from other sources, as compared to an amount of $457 in 2013. This marks a huge increase of $5,899, equivalent to an increase of 1,290% which is a significant amount of increase in income from other sources (Myer, 2014). All the amounts mentioned below are as stated 5. Earnings per common share The earnings per share can be segregated into two different categories, viz., basic earnings and diluted earnings. The basic earnings of 16.8 cents/share and diluted earnings of 16.6 cents/share was generated in 2014, a gross total of 33.4 cents/share. Comparing this with the 2013 earnings per common share, it was 21.8 and 21.6 cents respectively, a gross total of 43.4 cents. This is a decrease in earnings per share, equivalent to (43.4 33.4) cent = 10 cent per share. (d) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). 1. The net cash inflow from operating activities in the year 2014 was $191,576. In the year 2012, the net cash inflow from operating activities was $179,194 and the same in the year 2013 was $225,525. Thus, we notice that the operational success increased in 2013, but however, it went little low as compared to 2013, in the financial year ending 2014. 2. The net cash outflow from investing activities in the year was $104,250. In the year 2012, the net cash outflow from investing activities was $46,409 and the same in the year 2013 was $66,956. Thus, there is an increasing trend in the investing patterns of the company. 3. The net cash outflow from financing activities in the year was $95,232. The year 2012 witnessed the financing activities to be at the level of $132,721 whereas in 2013, it was close to $115,157. Thus, there is a decreasing trend in the outflow of financing activities for Myer and this implies that the company is beginning to give fewer dividends per share to the stakeholders of the company. 4. The net decrease in cash flow for the entire year came to be $7,906 In the year there was a positive net cash inflow of $784 and in the year, the same was $43,412. An exponential increase in the cash inflow was witnessed from 2012 to 2013, and finally, there was a negative cash inflow in the year 2014, as compared to 2013 (e) All the amounts mentioned below are in thousands of dollars, represented by $(1,000). The computation formulae for calculating stockholders equity is the balance of total liabilities being deducted from total assets (Keythman, 2014). The total assets are current assets + non-current assets = $1,932,664. The total liabilities would be current liabilities + non-current liabilities = $1,039,251.The total stockholders equity for the period of 2014 would be $(1,932,664 1,039,251) = $893,413. Now, the stockholders equity for 2013 would be total assets minus total liabilities, $(1,939,705 1,034,063) = $905,642. Therefore there is reduced shareholders equity at the moment by $12,229. This means that the total stocks owned by the stockholders of the company have decreased from 2013 to 2014 by 1.35%. The stockholders equity for the year 2013 was $905,642, whereas the same amount was at the level of $893,413 in the year 2014. Thus, we notice that there has been a decrease of $(905,642 893,413) = $12,229 in the balance of the shareholders equity. This reflects a decrease of 1.35%. Answer 2: Case Study The organizers of Melbourne Tennis Open 2015 have planned a way to monetize and generate maximum revenue from the event. The plan is to sell premium tickets to people with the signatures of tennis stars like Rafael Nadal and Roger Federer. The stipulation being there are a limited number of tickets carrying these collectible features? Also, the tennis club members get an additional $20 discount on the purchase of a single ticket. Needless to say, the tickets are limited and the fans lining up to buy them will be large in number. For the process to be fair and simple, and just too, the buyers have to fill the form online and the first or probably lucky 3,000 will get these tickets at the aforementioned price. The idea is to monetize the sales to a maximum extent and also generate revenue from the Melbourne Tennis Open 2015 1. Alternatives the organizers have in relation to recognizing revenues. Apart from the said collectible features, the organizers can plan on taking the following steps for recognizing revenues: (a) Selling the offer tickets on a first come, first serve basis at a preferentially increased rate would lead to more revenue recognition by the organizers. (b) Selling the offer tickets at premium rates when the last bunch of tickets is left. (c) Calculating the cost of all the offer tickets and the ascertained cost should be given to a single ticket having either Nadal or Feeders signature (or both) and putting it up for auction. I would go for option c) as it will attract the highest number of bidders and undoubtedly the sold bid will be at much higher prices than was expected originally from the normal course of sale of the 3,000 tickets. 2. Had the tickets been carrying the option of getting a return within a month, if the customer is not happy from them, my answer would indeed differ as with the given option, the turnout to buy these tickets would be more and thus the sale would be a huge success amongst the masses. On the other hand, a possibility could also arise when a minor of the masses would think that as the tickets are carrying the option of getting a return within a month, the tickets might not be genuine, unauthenticated or out of the whole lot of the 3,000 tickets only a small number would be genuine and the rest may be counterfeit ones. Also, some people would also buy tickets but when the one month is getting close to an end, they would ask the organizers to refund their tickets as they found themselves quite unhappy from the tickets and would thus ask for a refund. In either of the above case, the number of people turning out to buy the tickets would be less than as estimated and this would have a negative or decline in the number of tickets being sold, which would in turn decrease the amount of revenue being generated from the sale of the offered tickets. Overall, if the tickets had been carrying the option of getting a return within a month, my answer would have a slide either to an increase or decrease in revenue on the tickets being sold, but the answer would for sure not be the same had the stipulation not been added to the existing question. 3. If the organizers contracted a selling agent, the organizers would recognize revenue when even after giving the agents commission, the organizers are getting their expected outcome on the sale irrespective of the number of tickets being sold. This would be because as all the selling and marketing responsibilities are being borne by the agent, the same cost had it been incurred by the organizers they would amount to be even higher than expected but in this case only a fixed amount (here 10% commission) is being given and all the selling and marketing expenses are being covered in the same. This is completely parallel with the idea of putting up an Initial Public Offer wherein a stabilization agent is appointed in order to take care of the response rate of the purchase of shares at the time of the IPO (Kuhn, 2014). 4. According to me, in the accounting profession, there are mannerisms to verify and authenticate the validity of the signs put on the premium tickets of any sports event sold to customers or audience attending the same. This can be put in because the verification of these premium tickets will ensure the legality of the product being sold and the transaction being entered into between the organizers of the sports event and the customers purchasing the ticket. I could perhaps state the example of banks verifying the signatures of the cash withdrawers drawn on cheques, so as to ensure that the right concerned person is withdrawing these monies. 5. The Cost of Goods Sold (COGS) plays an important role in the said situation as the company has to consider the gross COGS while deciding the $280 and $300 price rates of the tickets for the tennis club members and other people respectively. The considerations put herein must be in regard with the amount of different headers which the organizers must have incurred in the normal course of business operations of availing the tickets to the customers and the prospective buyers (Baskerville, 2011). The various items which are put into the calculation of the COGS are equally relevant to the inclusion of expense heads like cost of getting the tickets printed, advertising costs, marketing costs, labour involved, commission charges and the sales agents costs. Also, it must be stated that in order to calculate the Gross Profit, calculation of COGS is extremely important. COGS (also Cost of Sales) is applied when we add together our Opening Inventories and Purchases and lessen the Closing Inventories from the same. In Short, Cost of Goods Sold = Operating Inventories + Purchases Closing Inventories 6. If the signatories are getting fixed fees for their efforts, the organizers will recognize expense right after the signatories have finished conducting their tasks. It is so because these tasks are not related with the criteria of tickets being sold, and hence will be recorded right at the time of these expenses being incurred. This would be because no matter the cost of the tickets, how much it amounts to, the organizers have to give the fixed amount to the signatories, irrespective of the tickets being sold. The above answer is as per my judgement. 7. If the signatories get a 5% commission on the sales of the signed tickets, the organizers would realize revenue when after the sale of tickets, and the 5% being charged on the sale of tickets, the remaining amount being realized by the organizers would be treated as revenue for the same. The signatories are entitled to a fixed commission (here 5%), based on the aspect of these tickets being sold since the commission will be variable depending on the number of tickets sold. For instance, if Nadals 500 tickets are sold, the signatory would be entitled to an amount of $300 x 5% x 500 tickets = $7,500. The previous calculations were made on the assumption that the tickets were bought by the general public. References AccountingWeb. (2008, February 7). Baseball tickets: Touch all the tax bases. ASX. (2014).Preliminary final report of Myer holdings limited. Bajkowski, J (1999, January). Financial Statement Analysis: A look at the balance sheet. Baskerville, P. (2011). What is cost of goods sold (COGS)? Day, JW. (2014). Theme: Cost of goods sold. Kuhn, T. (2014, September 4). Alibaba Group Holding has appointed Golden Sachs as its stabilization agent for its upcoming initial public offer. Myer Holdings Limited. (2012).Preliminary final report for the period ended 28 July 2012. Myer Holdings Limited. (2014).Company profile. Zions Bank. (2014). How to prepare and analyze a balance sheet?