Write if you agree or disagree and why Essay Example | Topics and Well Written Essays - 750 words

Write if you agree or disagree and why - Essay Example It may seem that companies are reluctant to raise wages because they are trying to protect their interests. However, when one looks at the matter critically, one will discover that an increase in the minimum wage has adverse impacts on the workers. Employers will increase the wages of their workers through increasing the prices of the goods they sell. For example, a retail shop will increase the prices of their goods, which are necessities, to cater for the government’s requirement. The changes in the consumer goods will fall hard on the individuals living below the poverty level because they will have to pay more for such goods (Macurdy n.pag). The government will have increased their purchasing power but also caused them to spend more on their consumptions. They do not benefit because the extra money they have earned goes straight to the profits of their employers. They might have to spend more because the minimal wage bill affects various sphere of the economy. Companies do not only hike prices to meet their profit objectives. They may also lay off workers. The low earners will be forced to look for jobs elsewhere (Macurdy n.pag). This increases in the burden of social workers who have to provide benefits for the unemployed. The law will increase the rate of unemployment, a state that brings with its problems. Employees will have to lose the salary that has helped them survive in the severe economy. The workers who will be retained will be forced to do a lot more for a marginal increase in their salaries. The retrenched workers will have left a gap that can only be filled with the remaining workers. They will be willing to take up the extra work because they will be too grateful to have retained their jobs. However, they will be under strenuous conditions that will reduce their job satisfaction. An increase in salaries will cause the low-income earner lose out on social benefits such as food stamps and subsidised housing charges. A

Price elasticity of demand Essay Example | Topics and Well Written Essays - 500 words

Price elasticity of demand - Essay Example The resulting coefficient for such is greater than 1 (Ed > 1). In addition, the result of a decrease in the price of the good is also an increase in its total revenue, otherwise, a decrease in its total revenue. ("Price Elasticity") Therefore, an increase in the prices of apples in the market will give a corresponding decrease in the total revenue of the good. This only means that if the price of apples is increased, consumers may decide not to buy the good any longer. However, if the price of apples decreases, people will tend to buy more apples. It is also possible that the consumer will just try to find an alternative fruit instead that is cheaper than apples. On the other hand, if the change in quantity demanded of the product along with its price is less than 1 (Ed < 1), the product is said to be inelastic. In this condition, the percentage change in quantity demanded is less than the percentage change in price. Unlike the elastic good, inelasticity means that a decrease in price will result in a decrease in total revenue and vice versa. ("Price Elasticity") Inelastic products are basically the products that belong to the basic needs of man. One example of an inelastic product would be the salt wherein even a large increase in its price, the demand would remain the same therefore there will be a relative increase in its total revenue.

Industry Analysis of Furniture Market

Industry Analysis of Furniture Market Nidhi (ABM 11032), Abhishek Ranjan Besra (PGP 29368), Nikhil Madan (PGP 30323), Poem Kabra (PGP 30329), Anurag Kumar (PGP 30302), Nivaak Shah (PGP 30325), Ruchi Shah (PGP 30341) FURNITURE IMPORTS IN INDIA The furniture imports in India has maintained a significant growth in past years. The key factors leading to increase in imports in India are increasing housing and commercial construction, increase in income level and influence of global lifestyle on urban population of India which tempts them to move towards the imported furniture. Earlier the European furniture was the major contributor in furniture import in India but from past few years a major portion of furniture is imported from China alone. During July 28, 2014 to August 28, 2014, India imported wooden furniture worth USD 1,626,772 followed by Italy and United States which exported furniture wood worth USD 348,207 and USD 254,712 respectively. The import data for this one month can be shown in pie chart as below: Wooden Furniture- Major Supplier Countries by Value (in USD) during July’14- August’14 (Source:www.infodriveindia.com/furniture-wood-import-data.aspx) The furniture imports in India have increased upto 64% over the period of five years from 2001 to 2005. The increase in the furniture imports is shown in the graph below: Furniture Imports in India during 2001-2006 Source: http://www.ibef.org/download/Furniture_170708.pdf) LABOUR VS OUTPUT According to law of Diminishing Marginal Returns, the increase in one input beyond a certain limit keeping others fixed will lead to decrease in productivity. In furniture industry, the analysis of diminishing marginal returns was done by considering the labour involved in the manufacturing of table. A normal table in a dealer’s shop in Delhi, Godrej Dealers, costs Rs. 2000. The production of a table requires 2 labours. If 5 carpenters are allotted to produce one table, the productivity increases but if the labour input goes beyond 5, there is a fall in productivity of table furniture. The analysis can be shown in the graph below: (Source: Survey, Godrej Dealers) DEMAND ESTIMATION (Organized sector) To estimate the demand we have taken demand as a dependent variable and other factors like price of products, substitutes and income level as independent variable. Two hypothesis were taken; Null hypothesis: There is no relationship between independent and dependent variable and Alternative hypothesis: There is a relationship between independent and dependent variable. If one of the hypothesis is rejected other will be automatically accepted. For organized sector the demand function which is developed has Price of the wooden furniture (P), Income levels of consumers (I), Price of the metal/fibre furniture (P1) as independent variable and Expenditure of wood (Q) as dependent variable. Demand function Q= (P, I, P1). The primary data of price has been collected from Godrej dealers of the Godrej Company. Income levels were collected from CMIE reports. All the primary data are constrained to Delhi. To develop Goodness of fit, the function has been assumed to be liner and regression analysis has been done to estimate the demand. After regression analysis, following model is obtained: Q= 6773.461317- 0.3281P+ 0.02705 I + 11.7609 P1 R2= 0.699, Adjusted R2= 0.548 Coefficient of P- Price of the wooden furniture is –ve Coefficient of me-Income level of consumers is + ve Coefficient of P1- Price of substitutes (metal/fibre) is +ve The above results shows a bit more than a moderate relationship between dependent and independent variable. According to the value of R2, 69% of the demand variation is explained by the variation of the price of the products, income level and price of the substitutes. Others factors which are not taken into account into above model should be government policies regarding cutting and selling tress and woods, import of woods etc. The above coefficient of independent variable gives us the result which is related to microeconomic theory. It clearly states that the demand (Q) falls with rising prices of main product and rises with rising income levels and prices of substitutes. Fig no. †¦.: Organized sector Regression fit quantity Price of product keeping ceteris paribus Fig no. †¦.: Organized sector Regression fit quantity income keeping ceteris paribus Hypothesis testing: By using the value of obtained value of t-stat and P-values the above mentioned hypothesis will be tested. Table no. :†¦Ã¢â‚¬ ¦. Here, we have considered level of significance to be 5% i.e ÃŽ ±= 0.05 and degree of freedom to be n-k-1, where n: no. of observations = 10 and k: no. of independent variable= 3 Hence, we get t (ÃŽ ±, n-k-1) which is t (0.05, 6). From statistical table (t distribution) the calculated t- value is 1.943. Findings: Table no:†¦.. According to the data independent variables like P and I doesn’t show any significant impact on Quantity demanded (Q) apart from variable P1 which is significant. This kind of result is obtained mainly because of less number of data. FUTURE OUTLOOK RECOMMENDATIONS As the furniture industry in India is largely unorganized and fragmented, it provides immense opportunities to domestic and global players. The main reason for increase in demand for furniture is on account of increasing purchasing power of the consumers, change in the lifestyle, increasing urbanization and availability in tier II and III cities. For increasing the product availability, organized furniture manufacturers are also getting into tie-ups with E-commerce retailers. The furniture retail chains are also focusing on increasing their presence in tier II III cities. â€Å"India Furniture Market Forecast Opportunities, 2019†, estimates the country’s furniture market will grow at a CAGR of around 26% during 2014-19.Western region is likely to be the highest revenue contributor in the furniture segment, followed by southern region as there are a large number of industrial hubs and upcoming infrastructure developments in these regions. Over the next few years, the Indian furniture market is expected to witness increasing consolidation due to growing entry of international companies as a result of the government’s 100% FDI approval into the country’s furniture industry. As a result, the share of small and mid-sized furniture players largely forming the unorganized sector is expected to fall over the coming years. The present market size of online sales in India is at Rs. 200 crore at present and is expected to grow five times to Rs. 1,000 crore by 2016. Certain categories such as coffee tables, bookshelves and shelves in general could be the bestsellers in the near future. This comes with its own limitations as certain items required to be seen and touched, like sofas. It is also believed that it will emerge as the most profitable segment in the e-commerce market.

Black holes :: essays research papers

black hole, in astronomy, celestial object of such extremely intense gravity that it attracts everything near it and in some instances prevents everything, including light, from escaping. The term was first used in reference to a star in the last phases of gravitational collapse (the final stage in the life history of certain stars; see stellar evolution), by the American physicist John A. Wheeler. Gravitational collapse begins when a star has depleted its steady sources of nuclear energy and can no longer produce the expansive force, a result of normal gas pressure, that supports the star against the compressive force of its own gravitation. As the star shrinks in size (and increases in density), it may assume one of several forms depending upon its mass. A less massive star may become a white dwarf, while a more massive one would become a supernova. If the mass is less than three times that of the sun, it will form a neutron star. However, if the final mass of the remaining stellar core is more than three solar masses, as shown by the American physicists J. Robert Oppenheimer and Hartland S. Snyder in 1939, nothing remains to prevent the star from collapsing without limit to an indefinitely small size and infinitely large density, a point called the "singularity. At the point of singularity the effects of Einstein's general theory of relativity become paramount. According to this theory, space becomes curved in the vicinity of matter; the greater the concentration of matter, the greater the curvature. When the star (or supernova remnant) shrinks below a certain size determined by its mass, the extreme curvature of space seals off contact with the outside world. The place beyond which no radiation can escape is called the event horizon, and its radius is called the Schwarzschild radius after the German astronomer Karl Schwarzschild, who in 1916 postulated the existence of collapsed celestial objects that emit no radiation. For a star with a mass equal to that of the sun, this limit is a radius of only 0.9 mi (1.5 km). Even light cannot escape the black hole but is turned back by the enormous pull of gravitation. It is now believed that the origin of some black holes is nonstellar. Some astrophysicists suggest that immense volumes of interstellar matter can collect and collapse into supermassive black holes, such as are found at the center of some galaxies.

Behaviorist Revised

By properly incorporating repeated practices and mechanisms in the study of business math, an educator can actively create participation and appreciation of the course objectives. Also by properly incorporating mechanisms for motivation, students can appreciate the way the subject is taught. The overall rationale in creating world problems in teaching business math is to incorporate students the proper attitude and behavior that is deemed to address each problem. This specifically coincides with the notion of a behaviorist approach by Skinner.Skinner is â€Å"one of the behaviorist psychologists saying that a measurable learning outcome is only possible if we change the learner’s behavior. † (Faryadi, 2007, p. 2) Basing from such idea, educators must incorporate the understanding that the students are responsive in the environment they are given into. It is through this that educators must understand the meaning of classical conditioning. This process usually involves h aving a stimuli and response from people.Conditioning students can be a very effective tool for them to acquire the information that they need. â€Å"The most efficient use of conditioned reflexes in the practical control of behavior often requires quantitative information. † (Skinner, 1976, p. 10) The use of examinations can be a gauge to determine their individual development as a student in accordance to guidelines and objectives of the subject. By incorporating exercises and exams, educators can control the tempo and analyze the way students grasp the subject they are studying.In addition, such world problems can help facilitate observable facts that the teacher can use to improve the subject he/she is teaching. It is the overall environment that It is through this rationale that the idea of behaviorism can be applicable in the realm of education. It seeks to foster a different way of arriving on how people learn. â€Å"In other words, behaviorism states that the mind do es not help a person acquire knowledge but instead it is the psychology of the environment which a person lives. † (Faryadi, 2007, p. 3)Recognizing this, there is a need for educators and teachers to create motivational scenarios for students. These activities are called ‘positive reinforcement’ in behaviorism. One example of an activity would be creating a reward system for students who go above the expected results. This will motivate students to study harder on the notion of achieving extra credits. To conclude, creating examinations and exercises by teachers can be very helpful in determining the grasp of student in the subject according to the behaviorist approach.By carefully understanding its relative tenets, educators can facilitate better teaching and imparting of information which is vital in the overall learning process. In the end, such actions can motivate students to learn more given the proper amount of reinforcement. References Faryadi, Q. (2007) B ehaviorism and the Construct of Knowledge in Education Resource Information Center (ERIC). Retrieved March 16, 2008. Skinner, B. F. (1976) Behaviorism. United States; Random House Inc.

Google Business Environment

Google's Business Environment Michael Lubrano Management 521 February 6, 2012 Sam Cunningham Google's Business Environment Investigating Google as a leader in the search engine industry proved to be extremely interesting. The company began back in 1996 under the guidance of Larry Page and Sergey Brin both graduate students from Stanford University. The original search engine was called â€Å"BackRub† a search engine working with connecting the importance of web pages using links.Google with such humble beginnings offered the services in a single language and offers their services in scores of languages. After careful review of Google’s income statement balance sheet and cash flow statement information it was clear the company is a leader in the industry. There are many companies trying to develop as large a customer base as Google but none to date have passed this Internet giant. While reviewing the annual data Google’s total revenue for the past three years has been on a continual increase.Recent conditions in the economy have not seemed to be a major hindrance to Google and seem not to have deterred its growth over the past few years. The statement tracks annual total revenue with numbers in thousands in December 2009 of $23,651,000 growing to $29,321,000 in December 2010 and an increase to $37,905,000 in December 2011 The growth shows an increase of almost 6,000,000 in 2009 -2010 and another $6,000,000 in 2011. With a potential climb of this magnitude for the years to come Google will be a force to be reckoned with on a continued level as it has been to the present day.The report also gave a gross profit figure with a continual annual growth gaining on a greater percentage level as well with an ability to add a larger amount of funding toward research and development increased by almost 2. 4 billion dollars in three years. Finally there was a net income applicable to common shares with a growth from 6. 5 billion in 2009 to 9. 7 billion i n 2011. In further review of Google’s balance sheet and cash flow statement information, Google shows a marked growth in cash and marketable securities from close to 24. 4 billion in 2009 growing to a whopping 44. billion in 2011 listing total assets of in excess of 72 billion in the fourth quarter of 2011. Reviewing the statements the predominant concern should be when if ever there will be a potential downside to the growth of Google. It has been on a steady climb and the statements portray continual growth for Google. Therefore there is usually concern with all growth in a positive direction slowing down over time. Many of the world’s industry leaders have a tendency to fall over time if growth is not clearly studied and additional products along with continued development of traditional products maintained.If the company can no longer keep up with demand or because growth in the industry inspires competition to develop, Google may lose some of the momentum. In the past former Google employees formed Twitter. Twitter has not been a problem for Google but as another company developing it can be in time. This along with others that may form due to the nature of the business can be a problem in the future. Google has been envied over the way they run their management teams. It has been said by many other managers employed by other companies the way Google approaches innovation is superior to many in the market today.The engineers are never expected to be non thinking. They are encouraged to dream and work with their own pet projects. Google encourages this and ensures the best ideas get the funding. According to Google’s Chief Executive Officer Eric Schmidt Google set up innovation reviews allowing department heads the opportunity to look at and compare all ideas discussing those with promise and allow those to proceed. This was due to the fear of ideas set aside and not allowed to develop. The concept was that one of those ideas set aside may be the one idea to be the next big money maker for Google.There are several companies that have comparable data to Google and can be clearly involved in benchmarking. Google has introduced analytics comparing data used by those companies along with Google to include visits, bounce rates, average time on site, new visits, page views, and pages per visits. According to Eric Schmidt â€Å"Today we have one very clear competitor, which is Microsoft, we used to two, with Yahoo, but Yahoo largely outsourced the search stuff to Microsoft. We see them as the core competitor; we have additional competition from different corners, so Facebook is a competitor in a bunch of properties and also for attention. Russell, p85. 2011)† Google has maintained the mantra not to be evil in its business endeavors and with the integrity it has maintained Google’s mission. That mission has been to bring information without censorship helping societies with heavy censorship to circumvent th e censors and gain access to all information. Google has been an innovative company and one of their strategies was Google Shared Spaces. This is a business efficiency increasing tool with the ability to share information needed by all in real time.This permits global businesses with many divisions in different locations and employees in need of brainstorming a means to do that brainstorming, surveys and time frame management in one gadget (Moons, 2011). Google also has developed through their Andriod creation application the ability for those who do not have a programming background, just ordinary people to create applications. This allows for a large amount of user made applications to be placed online. Many applications could not have been produced without this application.This was considered a revolutionary tool allowing for collective creativity from all over the globe to merge. It is also the catalyst for applications to be developed by those not as knowledgeable about program ming making the expectation of those applications to be much more user friendly. This brings the final global strategy in Google’s arsenal Aardvark. This program will be the platform connecting information seekers with information holders. Basically it connects those looking with those who have and this is a major move in the real-time search network.As a portion of this study it is also important to understand the Google culture. In this market of the day culture of a company is important as well as the attitude they carry in the business world. Its development has been above the norm in industry looking to keep its employees comfortable along with being hands on contributors and capable of doing many jobs. The employees are always able to pose questions directly to the founders Larry or Sergey at a weekly all hands meeting. The company is aggressively inclusive in their hiring and works to continue building a global team with many languages spoken within the company.The cor porate office known by the staffers as the Googleplex is headquarted in Mountain View, California, but their mission is to accommodate the entire world with information. Although the corporate office is in California the many offices around the world share similar attributes such as cubicles for the employees, bikes, and scooters to travel between meetings, hundreds of laptops, foosball, pool tables, volleyball courts, yoga, and dance classes offered, pianos, ping pong tables, and other items similar to unwind when stress is too high.There are also a variety of cafes within the complexes offering healthy lunches and dinners along with snacks and drinks to keep the Google staff going. The company has always kept the spirit of the crew being maintained at the highest level keeps the company at that level as well. Google also maintains these things they know to be true. First focus on the user and all else will follow. Second it is best to do one thing really, really well. Third fast i s better than slow. Fourth, democracy on the web works. Fifth, you do not need to be at your desk to need an answer. Sixth, you can make money without being evil.Seventh, there is always more information out there. Eighth, the need for information crosses all borders. Ninth, you can be serious without a suit. Tenth, Great just is not good enough. The attitude Google has is also one that believes finding answers on the web is not the problem of the individual searching but Google. They recognize the needs of the world information seekers and will continue to meet them with products and services. With a company that maintains this philosophy it is hard to think of any reasons they would not be in the position they are in at present.Google maintains a good healthy attitude and will be a presence for many years in the future. It also is easy to understand why they continue to dominant the competition and will continue to do so. In conclusion, Google is a force in the online information market that has no comparables at present time. There search engine is one of the most recognized and used more than others but also the Google site has a large advertisement base as well using their AdWords Express program. It was developed to place ads related to the content and relate to the users accessing the information page.Google has incorporated ways to show relevant ads allowing visitors to search the site helping to monetize, promote, and measure the success of the site as well. This is one factor that keeps Google in front and ahead of the competition. There are many who offer some form of information and information sharing Microsoft and Facebook are two to mention yet both of these along with the others now operating with too small a presence to be mentioned today have a large mountain to climb to be close to Google’s size, strength, abilities, and success.It is not impossible for a new and innovative company to develop that will someday give Google some competi tion but as of today there are none close to their level and there does not seem to be many in their shadows, either. References 2011 Google financial tables retrieved February from http://investor. google. com/financial/tables. html Anthony, S. (June 22, 2009). The search engine company famous for creative freedom is realizing there's a place for discipline, too, according to Scott Anthony Harvard Business. Org Russell, J. December 2011), Eric Schmidt discusses Google’s competitors, China, acquisitions and more. Retrieved February 5, 2011 from http://thenextweb. com/google/2011/12/27/eric-schmidt-discusses-googles-competitors-china-acquisitions-and-more/ Moons, L. (February 23, 2011), Google’s Global Development Strategies, Retrieved February 6, 2012 from http://www. businessandsoftwarestrategyforglobalisation. com/google%E2%80%99s-global-development-strategies/ The Google Culture, Retrieved February 6, 2012 from http://www. google. com/about/company/culture. html