E-commerce :: Business and Management Studies

Online business Except if you have been living under a stone throughout the previous two years, you have found out about internet business! What's more, you have found out about it from a few various points. For instance: You have caught wind of the entirety of the organizations that offer internet business since you have been shelled by their TV and radio promotions. You have perused the entirety of the reports about the move to internet business also, the publicity that has created around internet business organizations. You have seen the enormous valuations that web organizations get in the stock advertise, in any event, when they don't make a benefit. Also, you may have really bought something on the web, so you have direct close to home involvement in web based business. In any case, you may feel like you don't comprehend web based business by any means. What is all the publicity about? Why the enormous valuations? What's more, above all, is there a route for you to partake? On the off chance that you have an internet business thought, by what method may you begin executing it? On the off chance that you have had questions like these, at that point this version of How Stuff Works will assist by presenting you to the whole online business space. How about we see! Trade Before we get into a total conversation of web based business, it is useful to have a decent mental picture of plain old business first. On the off chance that you get business, at that point web based business is a simple augmentation. Merriam-Webster's Collegiate Dictionary characterizes business as follows: com.merce n [MF, fr. L commercium, fr. com-+ merc-, merx merchandise] (1537) 1: social intercourse: trade of thoughts, conclusions, or conclusions 2: the trade or purchasing and selling of items on a huge scope including transportation here and there 3: sexual intercourse We will in general be keen on the subsequent definition, however that third one is intriguing and surprising - perhaps that is the thing that the entirety of the promotion is about! So trade is, just, the trading of products and enterprises, generally for cash. We see trade surrounding us in a great many various structures. At the point when you purchase something at a market or at Wal-shop you are taking an interest in trade. Similarly, on the off chance that you truck half of your assets onto your front garden for a yard deal, you are partaking in business from an alternate edge. In the event that you go to work every day for an organization that delivers an item, that is yet another connection in the chain of business. At the point when you consider trade in these various manners, you instinctually perceive a few unique jobs: Purchasers - these are individuals with cash who need to buy a decent or administration. Merchants - these are the individuals who offer merchandise and enterprises to purchasers. Dealers are commonly perceived in two distinct structures: retailers who

Journalism, Mass Media and Communication Essay Example | Topics and Well Written Essays - 2000 words

News coverage, Mass Media and Communication - Essay Example The â€Å"change of scale† can be comprehended by the way that a speedy mechanism of correspondence can convey a bigger number of messages in a given time than a more slow one. Along these lines, the greatness or the size of correspondence increases when a faster medium is presented. A greater size of interchanges makes the size of human issues normally since a speedier medium forestalls exercise in futility which would now be able to be utilized for different issues. Phones empower an individual to speak with a far off beneficiary in an extremely speedy way that a letter. The pace of correspondence has expanded and the â€Å"pace† of human life has likewise expanded. For example, a procedure that must be started by the endorsement of a specific authority would now be able to start when the endorsement is made. A more slow vehicle of correspondence would save the endorsement in travel for a more extended time and subsequently the inception. A snappy medium paces up the way of life of individuals. Another and quick medium clearly acquires change the â€Å"pattern† of human life. The accessibility of PDAs empowers individuals to remain in contact with one another practically constantly. Guardians have a sense of security to send their kids to places where they would have never sent them if there were no mobile phones. So also, the example of life has been formed to an incredible degree by the presentation of mobile phones. By 2004, twenty billion were being sent worldwide consistently. (Bates, 2004). The â€Å"scale, pace and pattern† are interrelated with regards to an adjustment in way of life because of speedier and increasingly advantageous mechanisms of correspondence. The above conversation complements the contention made by McLuhan that â€Å"The medium is the message. The substance of a given message has, obviously, its own significance however what generally is disregarded is the effect of the mode of the message on our lives . The presentation of another and quick medium surprises us first and foremost however it joins itself into our lives over an extensive stretch of time. For example, sometime in the past mobile phones were not something that everybody could manage. Individuals used to live joyfully and their needs were being met when there were no mobile phones. Phones are an exceptionally brisk mode of bestowing and getting messages. They are consolidated into our lives in such a way, that we think that its extremely hard to invest our energy outside on the off chance that we have overlooked our wireless at home. An assortment of messages are conveyed by this medium going from significant messages to plays on words for no particular reason however the medium is a message itself. The medium is a message that our lives are brisk now and everything can be accounted for to anybody whenever. We need to take on a steady speed to find the pace of the medium and what has provoked us to do that is simply th e medium. The procedure of scattering of news has grown enormously. Any kind of news is given to us in the fastest manner conceivable. The substance of the news is a message however the mode of news is a message as well. For example, political pioneers of the past were not required to be careful about the news media and that is likely why we just know beneficial things about pioneers who accomplished something extraordinary. Nowadays, the news media is snappier and successful than it at any point was and political pioneers must be extremely cautious. They have gotten the message that â€Å"they should be careful† and this message is news media itself. The meaning of the cutting edge period would be deficient without a reference to the utilization of the web.

International Repatriation of Artifacts - Are Free Essay Samples As Good As They Claim?

International Repatriation of Artifacts - Are Free Essay Samples As Good As They Claim?Whether you are interested in taking a free essay sample or you want to invest in high quality essays and curriculum vitae, there are certain things that should be taken into consideration before making your decision. If you are taking a free essay sample, a first look is necessary to identify if you are getting the best possible essay writing services at the best possible price. The writing sample that you are being provided with should reflect the range of services that you need and the prices that you can afford.Free essay samples are usually very short (the average length of about three pages). This is because essay writers do not have the time to devote to long writing assignments and also because they will rarely accept free work in lieu of payment. However, a free sample is better than no sample at all, because it will give you a sense of what kind of writing that you will be able to expect from the company. You also have the choice of buying more writing samples from a company that has an excellent reputation and feedback to support their claims.Many companies that offer free samples will provide a higher level of service by giving you information about their essay samples, including pricing and services. They also provide feedback on their past work. One of the things that you should take into consideration when evaluating these sites is that they typically provide email responses to their customers, which allow you to get an immediate response when you ask for them.International repatriation of artifacts is often a strong subject matter for essay samples. It is a topic that is either quite boring or that creates a topic that is hard to handle. A writer with an analytical mind can find writing assignments that will include essays that discuss the benefits of repatriating artifacts from an archaeological site, the advantages and disadvantages of cultural preservation, or even how important it is to protect these objects of historical interest. These essays will be unique and they will not be something that you will find elsewhere.Many sites that offer free essay samples also offer writing assessments and feedbacks for students who are preparing for the SAT or the ACT. Many schools and colleges today have a lot of policy and procedures for testing and assessing essay samples. However, there are also a lot of resources available for those that want to develop writing skills in the comfort of their own home and do not want to spend their time and money going to school for the test.The next thing that you should look for when you are looking for a site that offers free essay samples is the amount of feedback that they are willing to provide for your samples. There are a lot of different people who will provide reviews, feedbacks, and critiques about the essay samples that they offer. It is always better to have a lot of people giving you feedback th an one person.Another thing that you should look for when you are looking for a free essay samples is the information that they provide about the types of essay writing assignments that they offer. Many sites that offer free samples of essays that are very similar to the types of essay samples that they offer for payment. Therefore, it is important to check out what they offer for free before you decide to pay for any of their products.It is always important to take the time to compare prices before you decide to go with a site that offers free samples. The truth is that not all free sites are the same. Even if a site does offer free samples, it is always wise to check out the company that you are considering buying from and make sure that the site has a track record of providing quality customer support.

Human Trafficking Modern Day Slavery Essay - 1389 Words

Yessenia Pedraza Human Trafficking Human Trafficking Defined Human Trafficking is â€Å"modern day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act† as defined by the Department of Homeland Security. It is largely unrecognized although it is one of the fastest growing criminal industries. It traffics children, teenagers, and adults. Human Trafficking comes second to drug dealing. There is human trafficking for sexual exploitation, trafficking of organ trade, trafficking for forced labor. This problem exists all over the world. Victims Victims include men, women, foreigners, or U.S citizens from different ethnic backgrounds, levels of education and social status. Many victims may not speak english. About twenty seven million people are enslaved. â€Å"It is an international and domestic problem with an estimate of about 14,500 to 17,500 individuals trafficked into the U.S.† (Children at Risk.) Victims of human trafficking are trapped by being promised a well paying job, a stable life, getting an education, or in an unhealthy relationship. Runaway and homeless teenagers, victims of domestic violence and sexual assault are also frequently targeted. â€Å"Statistics show that 1 in 3 of runaway children will be approached by a trafficker within forty eight hours of leaving home.† (Children at Risk.) The average age of child trafficking is between ages twelve and fourteen. There is an increasing number of youngerShow MoreRelatedModern Day Slavery: Human Trafficking 866 Words   |  4 PagesB lood Borne Connections.) Human trafficking is the modern day slavery, it involves taking control over a person through force, fraud or coercion to exploit the victim for forced labor, sexual exploitation. or both (â€Å"What† par.1). This is become the sad reality for many, approximately three out of every 1,000 people worldwide are being forced into this such slavery. Victims of human trafficking are people of all backgrounds and ages, no one is safe from the dirty hands of human traffickers. Every yearRead MoreHuman Trafficking : Modern Day Slavery1244 Words   |  5 Pages Human trafficking Around the world human trafficking happens around us without us noticing or realising what is happening. Modern-day slavery exists around the world and it is known today as human trafficking or trafficking in persons. So, what is human trafficking and why don t many people seek for help or go to athoughty ? Well human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act. Every year millionsRead MoreHuman Trafficking And The Modern Day Slavery Essay1006 Words   |  5 Pagesfield of criminal justice, and is known as the modern day slavery. This paper will also discuss the globalization in human trafficking. The study examines the impact of economic globalization on the human trafficking inflows around the world. This paper will begin by providing the definition of what human trafficking and globalization is, and how it works within the context of law enforcement. The history of human trafficking and how human trafficking is effecting societies across the world. ThisRead MoreHuman Trafficking And Modern Day Slavery Essay1390 Words   |  6 PagesHuman Trafficking There is an ever growing problem that is coursing the world. Every day 3,287 people are sold or kidnapped, and are forced into slavery. (Human Trafficking Statistics Reports 2012) Most people do not realize that modern-day slavery happens closer to home than they think. 14,000-17,500 is the estimated number of people trafficked into the United States each year. (Human Trafficking Statistics Reports 2012) The government has tried to reduce this problem as well as everyday peopleRead MoreHuman Trafficking : Modern Day Slavery1604 Words   |  7 PagesHuman Trafficking One of the most serious crimes worldwide, human trafficking is the buying, selling, and transportation of people for the use of sexual exploitation, forced labor, or organ removal. â€Å"Human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act.† (What is human trafficking Homeland) It happens in the United States and foreign countries. Many people do not see it happening, but in fact it is happeningRead MoreHuman Trafficking : Modern Day Slavery1531 Words   |  7 PagesHuman trafficking is modern day slavery that occurs with both genders of all ages. Human trafficking occurs mostly in poorer countries like Asia, and Eastern Europe and isn t solely sexual slavery; the victims can be used for labor purposes also. Organizations like Shared Hope International and Coalition Against Trafficking in Women fight to rescue the victims of human trafficking. These organizations spread the dangers of hum an trafficking through education and public awareness. Often times traffickingRead MoreHuman Trafficking : Modern Day Slavery1228 Words   |  5 Pages Around the world human trafficking happens around us without us noticing or realising what is happening. Modern-day slavery exists around the world and it is known today as human trafficking or trafficking in persons. So, what is human trafficking and why don t many people seek for help or go to athoughty ? Well human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act. Every year millions of men and woman andRead MoreHuman Trafficking : A Modern Day Slavery961 Words   |  4 PagesEnglish IV Nov. 23 2015 How to Stop Trafficking Women are not the only ones being sold today. Man are not the only ones selling humans today. All different kinds of humans are being sold in something called human trafficking. Human trafficking has become a problem worldwide and is effecting all people male, female, children, LGBT. There are many solutions, one of them is to educate the children at a younger age. Human trafficking is like a modern day slavery. The people being sold are forced inRead MoreHuman Trafficking : Modern Day Slavery1732 Words   |  7 PagesHaley Gooding Mrs. Gallos English 3 Honors 6 April 2017 Human Trafficking One of the most serious crimes worldwide, human trafficking is the buying, selling, and transportation of people for the use of sexual exploitation, forced labor, or organ removal. â€Å"Human trafficking is modern-day slavery and involves the use of force, fraud, or coercion to obtain some type of labor or commercial sex act.† (What is human trafficking Homeland) It happens in the United States and foreign countries. Many peopleRead MoreHuman Trafficking : Modern Day Slavery1210 Words   |  5 PagesHuman Trafficking Imagine being able to own a business and make nothing but profit. One of the types of trafficking is Labor Trafficking, which helps keep prices cheaper by having cheap workers. If companies do not have people working in factories for very little then a lot of prices would go up crazy like on clothing and furniture. A lot of countries economy are built off sex trafficking which helps the economy significantly. The ongoing â€Å"phenomenon† of human trafficking is not a problem

Essay on The Great Gatsby and the Great Depression

The Great Gatsby and the Great Depression When F. Scott Fitzgerald published The Great Gatsby in 1925, it was impossible for him to predict that only four years later his story would be enacted in real-life during the Great Depression. There are many prophetic symbols in the novel that tie The Great Gatsby and the Great Depression together. The twenties was a decade full of new financial opportunities in a society unable to adopt so much so quickly. All of the new possibilities, such as credit and loans, led to greater debts and bigger holes to fill. Society began getting too deeply in debt and was becoming increasingly unable to get itself out. So, they began searching for alternate means of wealth.†¦show more content†¦Although Gatsby didnt live to know it, he was right. By Daisy not coming to Gatsbys funeral, it shows that she plummeted and took a long time to recover, as did the stock market during The Great Depression. To society of the twenties, the one true love was wealth. Tom Buchanan, who represents the high society of the time, wanted Myrtle Wilson. Therefore, meaning she is symbolic of what the rich wanted - wealth. Although Myrtle herself isnt wealthy, wealth is what the society of the twenties wanted. Tom, the wealthiest character, wanted Myrtle, as almost all of society in the twenties wanted wealth. Therefore, she was the most prized possession of the twenties - wealth. When the stock market - Daisy - crashed (both financially and with an automobile) the wealth of the time was destroyed. Myrtle paid the ultimate price after the crash of the stock market. It is strange that Fitzgerald chose Myrtle to die in a crash since the wealth of the twenties died in a crash as well: the disastrous stock market crash of 1929. After the stock market destroyed the earned wealth of society, the rich (such as Tom) had to pay more attention to the stock market in order to gain wealth (or its true love) back. In The Great Gatsby, Daisy, or the stock market, destroys TomsShow MoreRelatedThe American Dream in The Great Gatsby by F. Scott Fitzgerald and A Streetcar Named Desire by Tennessee Williams1222 Words   |  5 Pagesidealized by millions of people. It is an attitude and mindset that can promote success and prosperity throughout life. When it comes to the American dream, a significant part is the quest for money. As shown in classic American Literature such as The Great Gatsby by F. Scott Fitzgerald and A Streetcar Named Desire by Tennessee Williams, the influence of money plays an important role throughout both novels. There are characters in both books that use money as a way of representing what their morals and valuesRead MoreDreaming the Dream in The Great Gatsby, and Of Mice and Men1194 Words   |  5 Pageshas attracted people from all around the world. Two writers from America’s past, however, have a different opinion on the once-great American Dream. F. Scott Fitzgerald and John Steinbeck have given the public their beliefs on the modern Dream through the novels they have written, The Great Gatsby, and Of Mice and Men, respectively. One novel placed during the Great Depression and the other during the Roaring Twenties both illustrate how their author feels about the Dream itself through the use of manyRead MoreThe Role of Food in The Great Gatsby and The Grapes of Wrath Essay837 Words   |  4 Pagesin F. Scott Fitzge rald’s work The Great Gatsby and John Steinbeck’s novel The Grapes of Wrath vary immensely. The complexity and need for sustenance differ between the books, but both reflect the events, viewpoints, and attitudes of the time periods they are set in. The complexity of food and drink changes from book to book. Extravagant and sophisticated food and drink litter the background in The Great Gatsby. For instance, chapter three of The Great Gatsby describes â€Å"buffet tables, garnishedRead MoreThe American Dream in The Great Gatsby and This Side of Paradise1382 Words   |  6 Pagescareer, Fitzgerald wrote many works, traveled the world, and served in the United States Army. F. Scott Fitzgerald wrote mostly short stories but became famous because of his novel This Side of Paradise and became even more famous because of The Great Gatsby which was released in 1925. The time period in which Fitzgerald lived played an extensive role in his work. Fitzgerald is one of the all time greatest American authors solely of the fact that his works displayed â€Å"The American Dream.† This bringsRead MoreThe Great Gatsby By F. Scott Fitzgerald1704 Words   |  7 Pagespopularity and how well off people were compared to those around them. F. Scott Fitzgerald illustrates class structure in the book The Great Gatsby through the different characters in different social classes. Fitzgerald gives settings that correspond with the social classes of the characters to better illustrate what environment he placed each character in. The Buchanan’s, Gatsby, and the Wilsons are examples of the different conflicting social classes Fitzgerald lays out for his readers. Rosanne TomynRead MoreAnalysis Of The Great Gatsby And Of Mice And Men850 Words   |  4 PagesSpongebob and Patrick; what’s so special about all of these characters? The answer itself is quite simple: they all have someone looking out for them. The Great Gatsby and Of Mice and Men are two stories set in the early 1900’s. However, they portray 2 diverse perspectives of the lives of those in that era. Fitzgerald, the author of The Great Gatsby, tells about the lavish, extravagant lives of the upper class and how their possessions overtook them. Steinbeck, the author of Of Mice and Men, chroniclesRead MoreThe Great Gatsby By F. Scott Fitzgerald818 Words   |  4 Pagesthe banning of alcohol did not end social problems and crimes; it sparked more organized crimes, such as bootlegging. Bootlegging was the illegal sale of alcohol that helped many people become rich fast. The Great Gatsby, by F. Scott Fitzgerald, took place during the Prohibition era. Jay Gatsby was one of the wealthiest characters in the roaring 20s, because he was a bootlegger. During Gatsby’s parties Nick Carraway, the narrator, describes the party as â€Å"... lights grow brighter as the earth lurchesRead MoreThe American Dream in The Great Gatsby by F. Scott Fitzgerlad832 Words   |  4 PagesAmerica. In 1929, the Great Depression hit and many Americans did have to wake up from their dream of success. The Great Gatsby, a novel written by F. Scott Fitzgerlad, took place during the Roaring Twenties. The main character of this novel was a man named Jay Gatsby. Fitzgerald used Gatsbys life as a microcosm of America during the 1920s. Like most of America, Gatsby had a dream. His dream was to become a part of the wealthy class of society. This dream that Gatsby had was realistic. WheneverRead MoreSeasons In The Great Gatsby Essay762 Words   |  4 PagesChris Carey Per. 4 12/8/17 The Great Gatsby Essay: Season; noun, is defined as one of the four periods of the year beginning astronomically at an equinox or solstice, but geographically at different dates in different climates. The seasons plays a huge role in The Great Gatsby, by F. Scott Fitzgerald, a novel about a young wealthy man who has been trying to reunite with a woman who he deeply loves but, only to be reaching out for his death. Three seasons spring, summer, and autumn all have differentRead MoreA Comparison Of The American Dream In The Great Gatsby1224 Words   |  5 Pagesset belief that is exactly the same for everyone, but that also means that there should not be any limitation on who can accomplish the American Dream. To show evidence of this claim I will use 2 classic novels as examples, The Great Gatsby and Of Mice and Men. The Great Gatsby is a novel set in the roaring 20s, a decade of pop culture, new dance styles and ways to dress. It was a time where people were fighting prohibition and going against moral sta ndards. This time was also called the Jazz Age because

The, Visible M A World Without Secrets - 1512 Words

â€Å"Antarctic penguins detect the precise call of their chicks among the 150,000 families in the nesting site† (Christin 96). If only it were this easy to know who you were talking to online. This leads me to Peter Singer’s â€Å"Visible Man: Ethics in a World Without Secrets† which he explains that being watched through surveillance increases our morals. And Brian Christians â€Å"Authenticating† discusses the importance of artificial intelligence and what makes us human. Both of the articles listed describes how technology continues to transform into a more modern web and gives the citizens, who use it, less security, which results in chaos within the government and society. Consequently, new technology does not make it harder to be†¦show more content†¦The personal questions that make is easy for hackers to do their job adequately are questions like, what is your social security number or birthdate? Many people will put their trust in certai n sites, but in actuality no one is safe. While online, it is all about being â€Å"nonanonymous† (Christian 95). It gets grueling after a while when we have to prove ourselves and companies never really know if the individual they are talking to is the person they say to be. In this case, computer users are constantly trying to authenticate themselves, because no one knows exactly who the other person is. This is due to the expansion in modern technology. In contrary to this, when there was a lack of computer technology, people communicated with one another in the flesh. There was no need to steal money from one another or invade someones personal privacy. Computer modernization is a sign that we may not be safe online anymore and it is taking away our identity online. There are various people out there up to no good that want to steal our identity, which in turn leads to those same individuals hacking into personal accounts and credit cards. This increase in technology has only made it harder for us to trust the diverse sites, but it has also made it a lot easier for people to get the information they need through search engines without someone questioning them. Cleverbots and Chatbots are

Australian Legal System Law Firms

Question: Describe about the Australian Legal System of Law Firms. Answer: Relevant Facts The fact that is briefed by Hans Alabout, an Occupational therapist, discloses many important elements that are to be taken into consideration while making the admission. From the facts that are provided by Hans, it is evident that he was working in the rehabilitative unit of a hospital in the post of an Occupational Therapist. He was found to be guilty of misconduct before the Board of Professional Registration for touching female teenage patients inappropriately for four times in spate occasions. The allegation against Hans was for fondling the breasts of one female patient and touching the vaginal region and fondling of breasts of three other patients. For the said activity Hans lost his job as an occupational therapist. Now, he has completed the JD and PLT degree. He also wants to take admission as a legal practitioner. Now, our client Hans wants to know the admission procedure in Victoria. Legal Issues From the discussion of the brief facts of the case, there lie several legal issues. The primary legal issue is that whether Hans would be able to get admission as a legal practitioner despite his past records of professional misconduct[1]. The other issues that are involved whether the previous professional misconduct by Hans would serve as any barrier to his endeavor of practicing as a legal practitioner. Law and Legal Cases that is applicable The Legal Profession Act of 2007 through section 30 discloses the eligibility rules for the admission to the legal profession within the Legal Profession Act of 2007. Section through its first subsection provides that any person is considered as eligible for getting admission in the law profession only if such person is a natural person aging 18 years and above if he has attained the academic qualifications that are approved and the academic qualifications that are corresponding. Such person may be eligible for admission as a legal profession if that person has completed satisfactorily the requirements of practical training of law that is approved or the requirements of the legal training that are corresponding[2]. The Legal Profession Act of 2007 through Section 31 discloses the suitability for the purpose of admission as a legal practitioner. The Section in its first subsection discloses that any person is considered suitable for getting admission in the law profession only if such person is a proper and fit person for getting such admission. The Section through its second subsection discloses that for making the decision regarding the fitness of any person for admission in the law profession, the Supreme Court must take into consideration every matter of suitability that is appropriate to the person in question[3]. The Section in its third subsection states that the Supreme Court may consider any person to be proper and fit to get admitted in the law profession despite suitability matter as a result of the circumstances that is relating to that matter. Section 26 of the Legal Profession Act of 2007 states the rules that are applied on the associates who are either convicted or disqualified persons. The Section in its first subsection makes the express statement that the law practice should not have any lay associate whom a legal practitioner or principle related to legal practice knows to be a person who is disqualified or a person who has been under conviction for any serious offense. Any person who has been convicted or disqualified, may on application to the society of law, get the approval to legal practice. Such approval must be subject to certain conditions that are stated. The society of law may refuse an application for approval to legal practice or may also impose certain conditions for such approval. For the doing the same, the society of law must serve the applicant such notice of information that is related to its decision to refuse the said application or impose certain conditions of approval[4]. The applicant may also make an application to the Queensland Civil and Administrative Tribunal for the review of such decision. Section 26 of the Legal Profession Act of 2007, through its subsection five, also mentions that any person who is disqualified or convicted of any serious offense must never seek to be a lay associate of a legal practice unless he or she first informs the law practice of such conviction or disqualification[5]. Section 9 of the Legal Profession Act of 2007 deals with the suitability matters. In relation to any natural person, several factors are taken into consideration for a suitability matter. The first factor is whether any person is in the present time of good character and good fame. The second element is that whether any person has been or is insolvent that is under administration[6]. The third element is that whether such person has been convicted of any offence either in Australia or in any other country and if that happens then the nature of such offence, the time when the offence was committed and the age of the person when such offense was committed, must be taken into consideration. The other element of suitability is whether any person is presently subject to any complaint, that is not resolved, or any investigation, or charge under any law that is relevant, or any corresponding law or any foreign law that is corresponding. The other element of suitability is whether any person is subject to any disciplinary action in any other profession of Australia or any foreign country. Section 32 of the Legal Profession Act of 2007 declares its rules of consideration of suitability. The section makes its application in case any person makes the consideration of any matter that may affect adversely to his assessment as a proper and fit person to get admitted in the law profession. The person may make an application in the appropriate format to the Legal Practitioners Admissions Board, for making a declaration that the his previous conduct would not adversely affect to the Boards assessment in relation to the fitness of that person to get admitted in the law profession[7]. On getting the application, the Board may either make the declaration as required, or refuse to make the declaration, or refer the application to a tribunal for getting a direction in case the Board considers that such direction is appropriate[8]. In case the Board refuses to make the declaration, it must render the applicant a notice regarding such refusal. The applicant, if wishes, may appeal bef ore the Supreme Court against such refusal within the expiry of twenty-eight days from the day the notice is delivered to the applicant[9]. Section 33 of the Legal Profession Act of 2007, deals with the involvement of the Supreme Court and the tribunal in deciding the fitness of the persons to be admitted to the law profession. In the first subsection of Section 33, it is provided that if an application is referred to the said tribunal, then the tribunal may render any direction that it considers as appropriate.[10] Section 34 of the Legal Profession Act of 2007, deals expressly with the application that is to be made to get admitted in the law profession. In the first subsection of the said section, it is mentioned that any person may make an application to the Supreme Court for being admitted to the law profession under the Legal Profession Act of 2007[11]. Such application must be done in accordance to the rules of admission and form that is approved. In the case of Frugtniet v Board of Examiners [2002] VSC 140[12], the Court rendered the meaning and interpretation of proper and fit person, who is to be admitted in the law profession. The Court by the phrase proper and fit meant that, any person must possess those qualifications that are required in making the discharge of the responsibilities of being a solicitor or a barrister. In the article named "ADMISSION AND PRACTICE REQUIREMENTS FOR LEGAL PRACTITIONERS", the basic and the primary requirement that is essential for practicing as a legal practitioner is having the required degree of law[13]. In the case of Australian Broadcasting Tribunal v Bond (1990) 170 CLR 321[14], the Court held that a legal practitioner after getting in the practice, must make the assumption of his or her duties towards the Court or towards the fellow practitioners and clients. In the case of Incorporated Law Institute of NSW v Meagher (1909) 9 CLR 655[15], the Court held that the heart of the duties of any legal practitioner is to make the commitment to honesty irrespective of embarrassment and self interest. In the case of New South Wales Bar v Murphy (2002) 55 NSWLR 23[16], the Court held that the administration of justice in any community, is governed by the force of law and it also depends on the working of the legal practitioners honestly, who may be relied to be meeting the higher standards of ethical behavior and honesty[17]. In the case of New South Wales Bar Association v Einfeld (2009) 259 ALR 278[18], the Court held that a legal practitioner is the executor and daily minister of the administration of justice while rendering the advice to their clients or certifying documents or making the presentation in the courts. In the journal named Skills for Lawyers[19], the basic requirements that are needed for a person who seek to become a legal practitioner are provided. In that journal, the things that are to be performed by a lawyer or legal practitioner are given in details. Legal Advice to Hans Alabout The advice that is to be provided to Hans is that he must make any application under Section 32 of the Legal Profession Act of 2007 by stating the fact of his disqualification while he was working as an occupational therapist in the appropriate form to the Legal Practitioners Admissions Board. In the application, Hans must disclose all the materials facts that are associated with his disqualification. The application must be for getting the declaration from the Board that he is fit to be admitted in the legal profession[20]. The Board either may grant Hans such declaration or may refuse to grant such declaration. In case the Board refuses to grant such declaration, Hans may make an appeal to the Supreme Court within the expiry of 28 days from the date of such refusal by the Board[21]. Reference List "Legal profession bill" [2007]legal profession bill Ashley, louise, and laura empson. "differentiation and discrimination: understanding social class and social exclusion in leading law firms."human relations66.2 (2013): 219-244. Australian broadcasting tribunal v bond (1990) 170 clr 321 Elkington, annabel [2010]skills of lawyershttps://apac-tc.hosted.exlibrisgroup.com/primo_library/libweb/action/search.do?ct=next+pagepag=nxtindx=1pagenumbercomingfrom=1indx=1fn=searchdscnt=1scp.scps=scope%3a(law)tb=tvid=bondmode=basicct=searchsrt=ranktab=default_tabinstitute=dum=truevl(freetext0)=electronic%20sourcesfromlogin=truedstmp=1468299401214 Flood, john. "institutional bridging: how large law firms engage in globalization."boston college law review54.1 (2013): 2014-9. Frugtniet v board of examiners [2002] vsc 140 Gillers, stephen. "how to make rules for lawyers: the professional responsibility of the legal profession."pepperdine law review40 (2013): 365. Hazard.Law of lawyering. Wolters kluwer law business, 2014. Incorporated law institute of nsw v meagher (1909) 9 clr 655 Legal profession act 2007 - sect 26 associates who are disqualified or convicted persons(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s26.h Legal profession act 2007 - sect 30 eligibility for admission to the legal profession under this act(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s30.html Legal profession act 2007 - sect 31 suitability for admission(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s31.html Legal profession act 2007 - sect 32 early consideration of suitability(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s32.html Legal profession act 2007 - sect 33 involvement of tribunal and supreme court(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s33.html Legal profession act 2007 - sect 34 application for admission to the legal profession(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s34.html Legal profession act 2007 - sect 35 role of supreme court relating to application for admission(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s35.html Legal profession act 2007 - sect 39 role of the board relating to application for admission(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s39.html Legal profession act 2007 - sect 9 suitability matters(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s9.html Mcginnis, john o., and russell g. Pearce. "the great disruption: how machine intelligence will transform the role of lawyers in the delivery of legal services." (2014). Mcginnis, john o., and russell g. Pearce. "the great disruption: how machine intelligence will transform the role of lawyers in the delivery of legal services." (2014). Mclean, scott, "evidence in legal profession disciplinary hearings" (2009) 28changing the lawyers paradigm Moliterno, james e. "ethics 20/20 successfully achieved its mission: it protected, preserved, and maintained."akron l. Rev.47 (2014): 149. New south wales bar association v einfeld (2009) 259 alr 278 New south wales bar v murphy (2002) 55 nswlr 23 Pont, g e dal, "admission and practice requirements for legal practitioners" [2015]admission and practice requirements for legal practitioners Rhode, deborah l. "legal education: rethinking the problem, reimagining the reforms."pepp. L. Rev.40 (2012): 437. [1] hazard.Law of lawyering. Wolters kluwer law business, 2014. [2] legal profession act 2007 - sect 30 eligibility for admission to the legal profession under this act(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s30.html [3] legal profession act 2007 - sect 31 suitability for admission(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s31.html [4] legal profession act 2007 - sect 26 associates who are disqualified or convicted persons(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s26.h [5] "legal profession bill" [2007]legal profession bill [6] legal profession act 2007 - sect 9 suitability matters(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s9.html [7] legal profession act 2007 - sect 32 early consideration of suitability(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s32.html [8] mcginnis, john o., and russell g. Pearce. "the great disruption: how machine intelligence will transform the role of lawyers in the delivery of legal services." (2014). [9] mclean, scott, "evidence in legal profession disciplinary hearings" (2009) 28changing the lawyers paradigm [10] mcginnis, john o., and russell g. Pearce. "the great disruption: how machine intelligence will transform the role of lawyers in the delivery of legal services." (2014). [11] legal profession act 2007 - sect 34 application for admission to the legal profession(2016) austlii.edu.au https://www.austlii.edu.au/au/legis/qld/consol_act/lpa2007179/s34.html [12] frugtniet v board of examiners [2002] vsc 140 [13] pont, g e dal, "admission and practice requirements for legal practitioners" [2015]admission and practice requirements for legal practitioners [14] australian broadcasting tribunal v bond (1990) 170 clr 321 [15] incorporated law institute of nsw v meagher (1909) 9 clr 655 [16] new south wales bar v murphy (2002) 55 nswlr 23 [17] flood, john. "institutional bridging: how large law firms engage in globalization."boston college law review54.1 (2013): 2014-9. [18] new south wales bar association v einfeld (2009) 259 alr 278 [19] elkington, annabel [2010]skills of lawyershttps://apac-tc.hosted.exlibrisgroup.com/primo_library/libweb/action/search.do?ct=next+pagepag=nxtindx=1pagenumbercomingfrom=1indx=1fn=searchdscnt=1scp.scps=scope%3a(law)tb=tvid=bondmode=basicct=searchsrt=ranktab=default_tabinstitute=dum=truevl(freetext0)=electronic%20sourcesfromlogin=truedstmp=1468299401214 [20] ashley, louise, and laura empson. "differentiation and discrimination: understanding social class and social exclusion in leading law firms."human relations66.2 (2013): 219-244. [21] gillers, stephen. "how to make rules for lawyers: the professional responsibility of the legal profession."pepperdine law review40 (2013): 365.

Lab Report on Ideal Gas Law Essay Example

Lab Report on Ideal Gas Law Paper We then poured the water back into the test tube and placed the tube into the bucket with the opening upwards, turning the open end downwards after the tube was fully submerged beneath he surface. We then placed the canister directly below the opening of the test tube, and released the gas so that the bubbles rose into the test tube. Next, we used a cork whose head was larger than the opening of the test tube to block off the opening (without changing the pressure inside of the tube), so that we could transport the remaining water to a graduated cylinder. When doing this, it was very important that the water level inside of the tube was equal to that of the surrounding water in the bucket, because that ensured that since the eater pressure in the tube was the same as that of the surrounding water, the pressure of the gas would be the same as that of the surrounding air. Thus, we recorded the gas pressure to be the same as the pressure in the room, which was calculated to be 763. 0 meg. We poured the remaining water from the test tube into a graduated cylinder to calculate the difference between the original water volume and the volume remaining, because this difference was equal to the volume of the gas released. Next, we blow-dried and shook the canister to get rid the extra mass that would eave been added by any water that had clung onto it while it was in the bucket, and weighed the canister again. We subtracted this mass from the original mass of the canister to find out the mass of gas released. We will write a custom essay sample on Lab Report on Ideal Gas Law specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lab Report on Ideal Gas Law specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lab Report on Ideal Gas Law specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Now that we had collected our data, we used Talons law of partial pressures to calculate the pressure of the gas from the canister alone, so we subtracted the pressure of the water vapor at the recorded water temperature (1 5. ICC) from the total pressure of the gas (763. 0 meg). With the pressure of the unknown gas lone, we were ready to plug our values into the IV=nor equation. Solving for n, we were able to determine how many moles of the gas we had used, so we only had to divide the mass of gas used by the moles to calculate the molar mass of the gas (in grams per mole). With the molar mass of the gas, we were able to identify the gas. 2. Results: Below are the values we recorded for each step in the experiment, as well as the calculations we made to come up with the molar mass of the unknown gas. Thus, the unknown gas was butane, CHICHI, whose molar mass is about 58. G/ mol. 3. Discussion: The theory behind our experiment was to find each necessary factor in the simplest, most accurate way. The most difficult part was figuring out how to catch all of the gas that we released, and to measure the volume of that gas precisely. The method we used was very effective because we were able to see the movement of the gas, and we were therefore able to control its entry into the test tube. Our results were pretty accurate, but there was some room for error. Below are the calculations for the percent error of our molar mass assortment. Some of the sources of error came from possible procedural problems, while others came due to the theoretical limitations of the experiment. One of the procedural difficulties we may have encountered was that there might have still been some water left on the canister when we weighed it the second time. Because the second mass of the canister would have the added mass of the water, the difference between the original mass and the mass after the gas had been released would have been smaller. Thus, we would have recorded a lower ass of gas released, so the molar mass calculation would have been lower because the numerator of the equation would have been smaller. Perhaps we could have blow-dried the canister for a longer period of time until we were absolutely sure that no water remained. Another procedural problem was the balance we used. Because it only measures to the hundredths place, we recorded the mass of the gas released to only one significant figure. Because of this, we were limited to only one significant figure in our calculation of the molar mass, so although we would have had an answer of 52. G/mol, we had to round down to 50 g/mol, which led to a greater percent error. The theoretical difficulties arose because we were applying the ideal gas law to a real gas. So, for example, while ideal gas particles have elasticity and dont lose speed or energy when they collide, the particles of a real gas do lose energy and speed, and this decrease leads to lower pressure. Also, ideal gases do not have any intermolecular forces, and the volume of the particles of an ideal gas can be ignored, but with a real gas, the particle size makes a difference. Because butane molecules are so large ND exist in a state very close to liquid form, we know that there are very strong dispersion forces holding the molecules together. Larger molecules have more momentary dipoles, and thus a stronger attraction, so because the molecules are held so close together, the volume we recorded was smaller than it would have been if butane were an ideal gas. However, despite these errors, our calculated molar mass was not very far from the actual molar mass of butane gas, so we did a relatively good job of controlling these variables that could have greatly affected our results.

Summary of the book Thinking Strategically in Turbulent times

Summary of the book Thinking Strategically in Turbulent times The rapid changes in technology have affected the way businesses and organizations operate. Fields such as nanotechnology, computing, communication, biotechnology and genetic engineering are the most affected. There is a lot of competition due to advances in technology.Advertising We will write a custom essay sample on Summary of the book â€Å"Thinking Strategically in Turbulent times† specifically for you for only $16.05 $11/page Learn More Therefore, managers have been compelled to adjust accordingly in order to cope with the prevailing challenges. In some cases, other businesses are forced to redesign the operations and business processes of their organizations. According to Glassman, Zell and Duron (2005), this gives them a competitive position to respond to the changes in environments that surround the organizations. For this reason, there is dire need for managers to change the way knowledge and information is managed as well as to reinvent str ategically in order to ensure a competitive edge in the long run. The technology that existed some years back is now obsolete and no longer functional. This implies that the advances that are being made in technology will continue to affect the operations of businesses even in the future. For businesses to remain competitive, there are factors that need to be considered especially in the top management levels. These are innovation, competition in the market and the regulation of laws that govern such organizations. All these moves will go a long way in ensuring that businesses and the entire world are politically, socially and economically stable. In view of changing technologies in the market, it is obvious that there are winners and losers. The difference is brought about by the way businesses respond to changes in technology. For instance, most organizations lack contingency plans to cater for such emergencies. When changes in technology are likely to shake the foundation of a bu siness, it is advisable to allocate some funds that can cater for the changes. It is vital to noted that technology is not a cheap aspect to cater for since it has always been an expensive undertaking. The research and design department should work tirelessly in the organizations to make sure that the management allocates enough funds for this purpose. When recruiting staff members, it is vital for managers to strike a balance between technology related expertise and employees who do not require training (Glassman, Zell Duron, 2005). Training in an organization should be emphasized so that the organization’s staff members become conversant with the technology that runs the business. As the organization progresses with time, rules and regulations should be changed regularly. Moreover, managers should be innovative and reuse materials through recycling so that the costs of transformation are reduced to the most minimal level.Advertising Looking for essay on business e conomics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Other organizations that are in quest to satisfy the needs of technological change have centralized the use of technology. According to Aulet (2009), this has encouraged sharing of expensive tools and equipment that are placed in central offices to ensure that less resources are bought in the organization. Use of networks has also assisted in making sure that the shared resources are well managed. The latter enables users to work from a remote location. For instance, the use of networks will help departments share resources such as printers and expensive servers. The network should be made as complex as possible for purpose of security. It should ensure that hackers and other criminals do not take advantage of vulnerabilities of the system. Human behavior affects the manner in which businesses perform. The management should therefore make sound decisions on human resource so that hum an errors are reduced to the lowest possible levels. Human error is a major reason for failure in businesses. Shapiro (2013) explains that conflict management is prudent. Misundertandings and conflicts are common among staff members of any organization. Resistance to change is also likely to occur among the employees. It is upon the managers to communicate change in the right way in order to reduce chances of conflicts related to resistance to change. Fair remuneration helps reduce cases of conflict between employees and the employer. Motivation should be encourages as well. This ensures that staff turnover is minimal and also reduces costs of recruitment and training of new members of staff. Staff experience is treated as an asset. Fair punishment should be done for all members of staff without bias or discrimination. Businesses have changed from the traditional ways of strategy formulation. Strategies no longer fall under mission statements and goals. Today’s technology has affected the way strategy formulation is addressed. It is only those businesses that make short term strategies that have competitive edge in the global economy. The external and internal entities and stake holders of businesses have changed their processes thereby forcing the businesses to change toward the same direction. Managers should ensure that any form of technology that is in place is as simple as possible. Less complicated technology is easy to manage and analyze. The analysis done goes long way in ensuring that forecasting is executed perfectly. During this process, all vulnerabilities and loopholes are closed and the business operates at low risks. There are several forces (both external and internal) that affect the operation of businesses.Advertising We will write a custom essay sample on Summary of the book â€Å"Thinking Strategically in Turbulent times† specifically for you for only $16.05 $11/page Learn More Moreover, a business en vironment is considered to be turbulent when several aspects of organizational change occur at the same time. Managers have different views on the effects of these forces. When the analysis and consultations are done in the right manner, business managers will be at vantage positions to control the set strategies and turbulent times in the business. References Aulet, K. W. (2009). Business Planning Principles and Applications. Retrieved from http://dig.csail.mit.edu/2010/LinkedData/Presentations/BusinessPlanning.pdf Glassman, M. A., Zell, D. Duron, S. (2005). Thinking strategically in turbulent times: an inside view of strategy making. London: M.E Sharpe. Shapiro, J. (2013). Strategic Planning. Web.

Heat Transfer Design Project HOT Gantry Crane Research Paper

Heat Transfer Design Project HOT Gantry Crane - Research Paper Example In the current setup of the electronics package, the heat generated by the transistors can only be lost through air convection. The temperature of the devicessurrounding, therefore, needs to be less than the allowable temperature of the device. At 150 degrees Celsius, the device is prone to damage. The introduced heat sink will however try to reduce the junction temperature for the device and ‘dump’ it in the surrounding media. Electronic device uses air as a medium.In a transistor; there exist connections between the casing and the junction and from the case to theheat sink. In addition, the contacts between the device and the sink usually contain a thin film, which, therefore, affects the heat transfer. All these features cause a temperature differential. They act as thermal resistances and usually each thermal resistance has a coefficient number always unique for each case and is expressed in temperature per watt. Because of this, there develops temperature difference s between the collector junction and the ambient. This particular variable should however be kept at a minimum 1) Rearranging the transistors- In the current layout, the transistors are stacked together. This contributes to theaccumulationon heat thus increase in temperature. This proposed design will consider arranging the transistor and having some gap between them. The spacing ensures free circulation of air and heat loss from the transistor surfaces. The material commonly used for heat sinks is aluminium with some fins fitted for more effective heat dissipation. The fins increase the surface area over which heat dissipation takes place.Since thecostis a major factor; the ultimate choice for this design will be aluminium. The sink chosen have should have a flat surface to enhance good physical contact. This will ensure maximum heat transfer. Grooves that match the transistors contact will be createdon the heat sink block. The heat sink will be fixed together with a

Poadcast Essay Example | Topics and Well Written Essays - 500 words

Poadcast - Essay Example Smith indicates that his organization is currently working in Honduras and has established a number of sustainable treatment facilities to aid the people in receiving drinking water. Smith indicates that the project originally began as an idea between himself and a Cornell professor. The technology itself is a community scale drinking water treatment plant. The plant, developed through community input, functions to provide clean water for a variety of functions, such as cleaning, drinking, and bathing. The cleansing process starts with coagulation, sedimentation, and disinfection through chlorine. The materials used in the process are all available locally. Smith notes that the program has been working in Honduras since 2006. He believes that technology will have continued potential, as long as the implementation of the project pays enough attention to the educational and operational costs. Indeed, he recognizes that a primary consideration is that the individual community members ar e educated about the technology. In terms of costs Smith notes that the costs are contingent with the size of the operation. For a small-scale community it costs $50,000, for a larger scale community it costs $150,000. In terms of future goals, the team notes that they hope to expand to future regions. Specifically, Nicaragua and El Salvador are areas that are going to be targeted next. One of the most pervasive considerations is the geographical terrain. Additionally, cultural institutions are an important input element, as the team must work directly with government or community leaders as a means of instituting these programs. Although the Aqua Clara project has seemingly achieved a mode of success, there seems to be a number of issues that must be more thoroughly considered. Perhaps most centrally is the organization’s approach to the social and political spectrum. One considers that the organization has

Development of an inventory management system

Development of an inventory management system INTRODUCTION This project is on the design and development of an inventory management system which is part of the supply-chain Management. This system will attempt to solve issues with current inventory management systems in order to give businesses a better competitive edge. The literature review will provide a detailed overview about Inventory management; why business need to manage their inventory, benefits and objectives of inventory management and best practice in inventory management. It will go on to further discuss what inventory management system is all about, a detailed explanation of the benefits, future of inventory management systems and talk about success of inventory management system. In the review, various factors for implementing efficient inventory management systems were listed in order to understand fully how to design and develop a software solution for a company that would provide the best services and effective solution to their current problems. The report also discussed some challenges faced by most inventory management system in providing businesses with an effective solution. As part of the literature review, a case study was carried out on Sahad Stores, a distribution company in Nigeria and a detailed investigation into their existing system was accomplished highlighting the problems of the current system. Based on knowledge gained from the literature review, a proposed solution was presented to resolve the issues with the companys current system of inventory management. INVENTORY MANAGEMENT An inventory is basically a detailed list of all the items in stock. Inventory consists of raw materials, work-in-process and finished goods. In todays highly competitive market, businesses need to maintain an appropriate level of stock to meet the customer demands at any time. Inventory management is part of the supply chain management. Over the past years, the concept of supply chain management SCM has been given a considerable attention. This is an approach to view the supply chain as a whole rather than as a set of separate processes (Weele, 2002). Mentzer, Dewitt, Keebler, Min, Nix, Smith and Zacharia defined Supply chain management SCM as the systematic and strategic coordination of the traditional business operations. The main aim of supply chain management SCM is to improve the long term performance of each firm as well as the whole supply chain (Mentzer, Dewitt, Keebler, Min, Nix, Smith and Zacharia, 2001). Inventory management involves system and processes of maintaining the appropriate level of stock in a warehouse (Barcodes, 2010). These activities includes identifying necessary inventory requirements, and creating replenishment processes, tracking and monitoring the usage of items/stock, reconciling inventory balances as well as reporting inventory status.(Barcodes , 2010). It is basically the process of efficiently controlling the amount of stock in order to avoid excess inventory. Reliable inventory management will therefore minimise the cost associated with inventory (Barcodes, 2010). Inventory management involves a wide scope of processes ranging from inventory forecasting , replenishment, demand forecasting as well as quality management (Wikipedia, 2009). Objectives and benefits of inventory management According to Stylus Systems, The 3 main objectives in inventory management are (Stylus, 2008): To reduce inventory investment or cost which is one of the most important goals of any business. Balancing the cost of keeping inventory with the benefits gained from it is vital to the successes of an organisation To provide improved customer satisfaction To increase sales and profits realised from effective inventory management which therefore improve overall business productivity Benefits of inventory management In a report by Stylus, he highlighted the following as some of the benefits of inventory management (Stylus, 2008): Inventory management systems can help reduce the time to respond to changing market demand of products and can help control excess stock IMS provide a means for business to effectively manage or control their inventory IMS helps businesses to constantly analyse their business processes such as sales and purchasing in order to make efficient inventory decisions Stylus systems also reported that inventory management systems IMS can provide total insight on stock transactions Stylus systems also stated that IMS can provide hands on knowledge on inventory which might lead to increased sales and efficient customer services. Development in inventory management Presently, there are two major approaches to inventory management Materials requirement planning (MRP): MRP is simply a management system in which sales are converted into loads by sub-unit and time. In this system, orders are scheduled more closely thereby reducing inventory and making delivery times shorter and more predictable (Hedrick, 2003). MPR review order quantities periodically and as such allow ordering only what is currently needed. This helps keep inventory levels very low. Just-in-Time (JIT): JIT approach ensures that a business should only keep inventory in the right quantity at the right time with the right quality (David, 2004) .Most organizations adapt to this system to integrate inventory management for a more competitive advantage (Kaynak, 2005). It eliminates inventories rather than optimize them. Why keep Inventory Inventory refers to a detailed list of all the items in store or warehouse. According to Inman, Inventory refers to the items that are stored in warehouses or distribution centres in excess of what the store needs (Inman, 2010). The following are the reason why business keeps more inventory than they currently need (Inventory Management, 2010). Meet Demand: this ensures that customers get the product or item that they want when they want it. Keep Operations running: When for example manufacturers run out of stock to manufacture certain product, the whole production process or operations will be halted and thus manufacture of the finished product. In order to prevent this, most manufacturers purchase excess inventory. Lead time: When a shop or a factory places an order for a particular item, the period of time between the order placements and when the order is received is known as lead time. Business therefore should have hands on inventory during the lead time in order to keep its operations running. Hedge: This involves keeping inventory against inflation in price of products. This allows the buyer to buy at a lower price than when the price increases. Quantity Discount: Quantity discount refers to reduction in price of an item when purchasing in bulk. This always influences most businesses to buy more than it needs which might lead to excess inventory. Smoothing Requirements: businesses sometimes acquire access inventory for products that have unpredictable demands in order to meet demand. According to Edwars Silver (Silver, 2008), inventory management involves knowing the following Questions: The size of replenishment order that will be required The time this order will be placed And finally how frequent inventory records should be analysed Best practice in inventory management In an effort to maximise their return on investment (ROI) and avoid excess inventory, many businesses invest a fortune in inventory management systems. In a report by Philip Slater (Slater, 2009), he stated that most of these systems fails to render expected services and rather result in excess inventory. This is because software can only optimise the values it has and not what it could be and as a result, it neglects some important external influences like changes in the management process. He stated that Worlds best practice inventory management demands that the inventory management system is optimised not just the inventory. Inventory management therefore goes beyond software system and as stated by Philip Slater (Slater, 2009) inventory management involves combination of know-how, process and reporting that collectively provide a means of maximizing availability while minimizing cash investment. In the report, he stated five level of worlds best practice inventory management that when fully implemented, can enable businesses to reduce their inventory investment or cost. These levels are: Ad Hoc: this level require less control as inventory is expensed when purchased on an as needed basis and used immediately. Storage: this level involves the storage of items for use and not strictly controlled. Here, inventory is expensed when purchased. This approach tends to increase total expenditure as items are purchased in economic quantities and discourage review and development due to lack of control Capitalisation: This approach entails the use of software solution to control inventory and provide good availability. Unfortunately, most businesses use their software mostly for counting and accounting. Software Optimisation: at this level, inventory is capitalised and the levels of stock are optimised based on a risk/return algorithm. Software solution can automatically adjust stock levels based on the history of demand and supply but these level are not trusted by most business because they believe the supply and demand may not represent actual usage System Optimisation: At this level, all factors influencing inventory investment are reviewed periodically. The main purpose of inventory management is to minimise overall cash investment without increasing risk. This according to Philip Slater is the worlds best practice in inventory management (Slater, 2009). Capitalisation and system optimisation goes hand-in-hand. For an effective system, the management is therefore required to possess the know-how, measures, policy development, and reporting required to take the business to level 5 (System Optimization) and not just the software alone(Slater, 2009). INVENTORY CONTROL According to business link in an article, an organisation has an efficient inventory control only when they have the right amount of stock in the right place and at the right time (Business link, 2006). Inefficient Inventory control can leads slower sales and disappointed customers. Inventory control basically deals with reducing the total cost of inventory. Inventory control is very relevant for businesses, especially businesses dealing with a large variety of products. As site by Hossein Arsham, Inventory management or control can be used to streamline warehouse processes in order to track orders and shipment (Arsham, 2006). Other important applications of inventory management systems are in manufacturing, shipping, and receiving. As stated by Arsham, there are three main factors in inventory control decision making process (Arsham, 2006). The cost of holding the stock: this is the cost associated carrying inventory over time and involves having items in storage. This includes interest, taxes, insurance, spoilage, breakage and warehousing cost like light, rent. The cost of placing an order: this is the cost of ordering and receiving inventory which include shipping cost, preparing invoices, determine how much is needed and moving goods. The cost of shortage: this cost involves what is lost if the stock is insufficient to meet all demand. This normally happens when demand exceeds the supply of inventory on hand. MerchantOS argued that the easiest way to manage inventory is with a computer inventory management s ystem (Merchant, 2010). The systems below help to reduce the time spent in managing inventory: Point-of-sale terminals: this system updates stock level automatically and provide a more error free sales transaction Barcodes and barcode readers which proved a way to effectively input inventory and stock takes faster into the system Job costing and inventory systems which are systems that also automatically update stock counts as orders are being made. Electronic Supplier product catalogs: allows the use of electronic devices like CD/DVDs to record inventory data. These systems ensure accurate inventory records through the use of electronic and wireless technologies that provide error free data. These systems are very efficient in that they: Keep only up-to-date records of items and remove all sold items from the system It is possible to Review stock reports periodically to check the products status and identify low demand products. Periodically check record to ensure the level of accuracy of the system and to check against physical stock quantities. Methods of Inventory Control There are several method of inventory control which include (Hedrick, 2010): Visual control: this is used to determine if additional inventory is required through visual examination. This method is mostly used in small businesses and may not require any records. Tickler control: this is the physical counting of small portion of the inventory on a regular basis. Click Sheet Control: this involves the recording of items as they are used on a sheet of paper and used for reorder purposes Stub control: mostly used by retailers and allow managers have certain control of prices. Today, the growth of businesses has provided a necessity to develop a more complicated and highly analytical form of inventory management. The above inventory management systems became difficult and inefficient. As a result, computer systems to control inventory was introduced. These systems include: Point-of-sale terminals: this stores information of each item that is used or sold. Off-line point-of-sale terminals: this transmits sales information directly to the suppliers computer system. The supplier then uses this information to ship necessary items automatically to the retailers The last method for inventory control is carried out by an external agency. As sited by Floyd Hedrick, it involves removal of unwanted products from stock which can be returned to the manufacture. This however has to occur after an agreement and frequent scheduled visit by the manufacturers representative to the large retailer in order to record stock count and writes the reorder (Hedrick, 2010). The main aim of the above systems was to provide a more efficient system that will be able to identify the cost of each inventory (Hedrick, 2010). According to the report, two main control values are used: The Economic order quantity (EOQ) that is the size of the order The reorder point which is the lowest quantity that a stock or an item can be before more quantity is ordered. The Economic Order Quantity (EOQ) is a formula that is used mainly for calculating the annual cost for ordering an item. It is widely used by most businesses and involves the actual cost of placing an order, the cost of carrying inventory as well as the annual sales rate. (Hedrick, 2010). INVENTORY MANAGEMENT SYSTEMS An Inventory management system is a system that automates all the processes involved in inventory management. These system are a vital part of any successful business and is basically used to efficiently track inventory using both hardware and software tools. The types of inventory tracked with an inventory management system includes almost any type of quantifiable products like clothing, household products, food, as well as equipment (Barcodes inc, 2010 ). These inventory management systems can influence the overall efficiency of a companys performance resulting in profits. An overview of the whole system is as shown in the diagram below: The diagram above show an over view of the whole inventory management system indication how numerous branches. It shows how the inventory management system manages inventory, sales as well as Employee information. Through the end of 1980s, sales and accounting related modules were the main focus of majority of software solution for retailer, manufacturers, and wholesalers. During the early 1990s, many distributors began to notice the relevance of an effective way of controlling and managing their largest investment of corporate assets which is inventory. This lead to the development of comprehensive inventory management modules and systems by several software companies (Schreibfeder, 2009). Presently, many businesses rely on modern inventory management systems to automate and integrate all aspects their business operations from order management, shipping management, billing systems, to inventory control all in one software package (Schreibfeder, 2009). Tim Cosby reported that, inventory management systems must have ability to track sales and availability, communicate with suppliers in near real-time and receive and incorporate other data like seasonal demand (Cosby, 2007). This means that the system must tell the storeowner for example when its stock level is low so as to reorder and how much to purchase. Information technology provided a way to convert sales and purchasing into a strategic business operation. Businesses now are faced with the challenge of finding out how to use these technologies to gain value and competitive advantage. Inventory management system can deliver these advantages (Stylus Systems, 2008). Modern inventory management systems now depend on barcodes, and potentially RFID systems to enable automatic identification of objects. According to a case study at Wal-Mart, for products selling between 1 and 15 units a day, RFID was able to reduced Out of Stocks by up to 30% (Mathieu, 2007). In order to record an inventory transaction accurately, the inventory management system uses abarcode scanneror RFID reader to identify products automatically, and then collects additional information on the specific product from the operators via fixedwireless terminals, or mobile computers (Mathieu, 2007). Mathieu defined RFID (RadioFrequencyIdentification) as a data collection technology that uses electronic tags also known as electronic label to store data and can be used to identify items just like bar codes. The main difference between RFID and bar codes is that RFID uses wireless technology to transmit information into the system and can be inserted within packages and does not have to be close to the scanner. On the other hand, barcodes require line of sight and closure to the scanner for information to be read. As stated by Mathieu, RFID tagged cartons rolling on a conveyer belt can be read many times faster than bar-coded boxes (Mathieu, 2007). Large software companies like IBM, Microsoft, SAP, and Oracle have already designed effective inventory management systems for large businesses. These software solutions cost thousands to millions of dollars. They have now turned to focus on smaller businesses. Some of the popular inventory (supply chain) management systems produced by Microsoft include Great Plains and Solomon, which are now joined together and called Microsoft Dynamics GP (Quittner, 2008). Implementing effective inventory management systems Inventory management is very relevant for todays businesses in order to ensure quality control in businesses which presently is centred mostly on customer satisfaction. Inefficient inventory control or management can therefore cause customer dissatisfaction when they run out of stock of an item the customer needs. In order to avoid this, most businesses are willing to invest large amount of money in acquiring an effective and efficient inventory management systems. A good inventory management system will be able to alert the retailer when it is time to reorder. It is also an important way automatically tracking moving inventory. An efficient inventory management system helps to minimize the risk of error. For example, if a business orders large quantity of goods, and say 10,000 are missing. Manual counting each goods is likely to result in error but these errors can be avoided using an automated inventory management system. In retail stores, an inventory management system can also be used to track theft of retail merchandise, providing valuable information about store activities (Schreibfeder, 2009). Inventory management systems must be designed to reflect and support companys strategic plan as well as adapt to market changes due to worldwide marketing or new technology. It should also provide relevant information to efficiently monitor inventory movements, coordinate and integrate internal processes like accounting or billing, manage people and equipment and communicate with customers. According to Invatol, inventory management system must be able to integrate the following processes in order to ensure continuity between functions (Invatol, 2003): Sales Forecasting: this requires the system to provide necessary information to coordinate business operations effectively and manage equipment and people. It should allow managers to make accurate and real time decisions. Sales and Operations planning: inventory management should control or handle fluctuations in market demands and lead time Companys Strategic goals: Alignment with company strategy is an important aspect of the business and necessary for its success and therefore inventory management should be designed to align with the companys strategic goal and market demand. Production and materials requirement planning: inventory system s should provide a balance of demand and supply at a minimised cost, inventory level and work load to achieve customer satisfaction. These processes however vary from business to business depending on how the businesses carry out its processes, and on the market demand. Benefits of using Inventory management systems As cited by David Essex (Essex, 2009), he stated that the following are some of the advantages that businesses achieve while using inventory management software: Businesses get faster return on investment (ROI) which is as a result of lower carrying cost. Inventory software can provide accurate up-to-date information about inventory thereby improving sales forecasts. Replenishment Planning. This means that Inventory management software can notify businesses the safest time to delay order without affecting customer satisfaction and cost. It also proved the ability to separate safety stock according to customer satisfaction and profitability. Increased sales It can also encourage sales staff to promote products without running out of stock by improving inventory visibility (Essex, 2009). Successful Inventory management systems For any successful business, inventory management must be a critical aspect of its business. The most important aspect of an efficient inventory management is to achieve accurate data in terms of figures and facts and to implement policies to protect this information (Inventory Management, 2007). A successful inventory management system will provided businesses with proper inventory control that reduces overall operating cost leading to customer satisfaction as well as give a competitive advantage. As sited by Alan Smith, a well-structured inventory management system should be able to adjust to an existing system (Smith, 2009) Success in manufacturing industry entails producing the right products, in the right quantities, at the right time, with good quality, and at a price the customer is willing to pay. Success in the manufacturing industry requires producing the right products, in the right quantities, at the right time, with good quality, and at a price the customer is willing to pay. The flexibility to respond to compliance standards and the ever-changing needs of customers, such as providing real-time visibility into global operations, is also imperative for success. Meeting these demands requires the ability to make quick decisions based on accurate data. Successful inventory management has to do with balancing the cost of keeping inventory with the benefits gained from inventory. Some of the reasons for inventory management include (Hedrick, 2003): Obtaining lower prices by purchasing products in bulk Keeping stock low just enough to meet demand and avoid excess inventory Maintaining a wide range of stock Increasing inventory turnover or return on investment Having adequate inventory on hand so as to provide reliable customer services However, the degree of success in addressing these issues varies within the functionality of inventory as well as the type of business. A successful inventory management system will accelerate the process of tracking and removing from inventory those items that needed by customer. This process minimises the lead-time for order fulfilment (Merchantos, 2010). Ideally, in order to avoid late re-order times, inventory software should be able to adjust the order quantity and delivery lead time to match that of the suppliers performance. Future of Inventory Management Systems During the late 1990s, there was a large amount of businesses investing in integrated order and inventory system which were basically designed to reduce the amount of inventories as well as manage stock level (replenish stock). There were a wide range of system integration options based on the business needs and financial ability (Gale Group, 2002). However, these stand-alone systems do not integrate well with each other. In 1996, a study by the International Mass Retail Association (IMRA), concluded that stand alone warehouse Management System (WMS) for example which perform only individual business operations will become obsolete because of their lack of integration well with other systems (Gale Group, 2002). Presently, organisations can no longer compete effectively in isolation of their suppliers and other entities. The future success of many businesses depends on the co-ordination and co-operation of efforts, thereby making supply Chain management important. JIT and VMI are the two of the philosophies that have been used to update supply chain relationships and management (David, 2004). The trend now in inventory management is to strives to improve not just specific aspect of the supply chain but system-wide (the entire supply chain) efficiency through automatic replenishment programs (ARPs) like the vendor managed inventory (VMI). In this system, the vendors are responsible for inventory replenishment or restocking of inventory for their retailers. They get retailers warehouse or point of sale information and use it to track retailers inventory thereby placing the whole responsibility for inventory management of the shoulders of the vendors (Gale Group, 2002). Popular Automatic replenishment programs (ARP) includes continuous replenishment planning (CRP) and vendor managed inventory (VMI). CRP and VMI are similar but differ in the sense that VMI also decides what and when to ship. Another widely used ARP is the efficient consumer response (ECR) used within the grocery industry and quick response (QR) programs which are common in the apparel industry (Daugherty, Mye rs, Matthew, Autry and Chad, 1999). Future inventory management systems will be able to integrate all business processes for the whole supply chain. Another future development would be the use of RFID with GPRS to track inventory. ANALYSING INVENTORY ADJUSTMENTS Inventory Adjustment as the name implies is implemented as a stock adjuster with the main objective of synchronising the system with the actual stock on hand. According to Jon Schreibfeder, in a case study with a large food distributor, he stated that the company began a program to achieve effective inventory management. As part of the program, they were cycle counting products and entering inventory adjustments as they find any miss match between the quality of a product in their warehouse and the inventory maintained by their computer system (Schreibfeder, 2009). In his analysis, Schreibfeder stated that the company was able to adopt a system that improved their future inventory accuracy that is methods of handling stock in order to prevent additional stock discrepancies. They did this by carefully analysing the reasons for inventory adjustments (Schreibfeder, 2009). This I believe was because most inventory adjustments are the result of problems encountered in the normal handling of materials. The reason to make inventory Adjustments are basically the same for most businesses irrespective of the systems and operative methodologies they are using but the way these inventory adjustments are made will affect the inventory cost differently. The main reasons why inventory adjustments are required are (Schreibfeder, 2009): Some of the products in inventory are damaged or spoiled and therefore cannot be sold Material is missing from inventory Product in inventory might be out-dated or cannot be sold because it has been in inventory for too long More products available in the inventory than is recorded in the system The remaining inventory in stock is less than the quantity a customer will normally buy Some inventory management system like FoodConnex implement inventory adjustment modules. According to FoodConnex, inventory adjustment can be categorized as follows (Solutions, 2009): Stock Quantity Adjustments as a result of spoilage, damage, theft, samples. These are adjustments made when stock in a store or warehouse is removed from the warehouse or store for a known reason (Solutions, 2009). Quality Adjustment due to a Receiving Error. The adjustments are made when the quantity entered as received into the system was incorrect. This will result in the re-calculation of the average cost of that item (Solutions, 2009). Cost Adjustment due to a Receiving Error: when the cost of an item is entered incorrectly this will require inventory adjustment. This will also cause the average cost of the item to be re-calculated (Solutions, 2009). Based on the information presented, every inventory adjustment should be considered as an opportunity for businesses to improve which can result to greater corporate profitability. Challenges of Inventory management systems Several inventory management systems now include many new features designed to help distributors effectively manage their inventory. However, after implementing such systems, many businesses still continue to face the same challenges they experience with their old system. These challenges include (Schreibfeder, 2000): Stock-out and lost sales Inaccurate On-hand and available-for-sale quantities in their systems Unsatisfactory return on investments from inventory

Hamlet by William Shakespeare Essay -- Hamlet William Shakespeare Essa

Hamlet by William Shakespeare A Shakespearean scene, with all of its intricacies and details, has the capacity to uncover the fundamental aspects of characters while acting as a space for precise language to lead the reader through multilayered themes, tensions, and ideas. Particularly in Shakespeare’s tragedy, Hamlet, the dense, rippling text packs provocative and meaningful language within nearly every line to compose an intricate, seamless tragic play. Specifically in the first scene of Act 3, the actions, dialogue, and movements of each character involved creates a momentum of revelation for the reader regarding central character, Hamlet, and the breadth of his character. Every major, influential character of the play—King Claudius, Queen Gertrude, Polonius, Ophelia, Rosencrantz, Guildenstern and, of course, Hamlet—appears in 3.1 and every line of dialogue directly concerns Hamlet in one way or another. The scene exhibits the prince alone on stage in a soliloquy to illustrate his inne rmost thoughts, as well as in the presence of others; thus, the reader learns of Hamlet’s propensity to feel, think, or say one thing, while his actions do not always cohere with his thoughts or speech. In this way, one of Hamlet’s tragic character flaws lends itself to the aforementioned discord between thinking and acting, and the scene chronicles the ways in which his dissonance profoundly affects the major themes and characters of the play. Scene 3.1 first unfolds with King Claudius, Queen Gertrude, Polonius and Hamlet’s cronies Rosencrantz and Guildenstern in anxious dialogue concerning Hamlet’s recent shift in disposition. Claudius refers to Hamlet’s recent state as a put-on of â€Å"confusion† (3.1.2) and a â€Å"turbulent and d... ...impressive ability to move and shape the play’s characters in such a way that the threads of language create a complex web between the layers of each character involved. In this way, the psychology of the characters gains autonomy from the bounds of authorship through the very language of the text and begs to move freely within the text. Shakespeare entrusted an enormous power into Hamlet’s character, especially, because though he acts tentatively and waveringly, the character of him, including his disposition, manners, speech and outward exhibitions, adhere to the other characters of the play as puppet strings, and he inspires almost all of their actions because of his own reluctance to initiate movement. This interdependence of the minutiae of the complex text contributes to the achieved brilliance and long-lived speculation regarding Shakespeare’s tragic play. Hamlet by William Shakespeare Essay -- Hamlet William Shakespeare Essa Hamlet by William Shakespeare A Shakespearean scene, with all of its intricacies and details, has the capacity to uncover the fundamental aspects of characters while acting as a space for precise language to lead the reader through multilayered themes, tensions, and ideas. Particularly in Shakespeare’s tragedy, Hamlet, the dense, rippling text packs provocative and meaningful language within nearly every line to compose an intricate, seamless tragic play. Specifically in the first scene of Act 3, the actions, dialogue, and movements of each character involved creates a momentum of revelation for the reader regarding central character, Hamlet, and the breadth of his character. Every major, influential character of the play—King Claudius, Queen Gertrude, Polonius, Ophelia, Rosencrantz, Guildenstern and, of course, Hamlet—appears in 3.1 and every line of dialogue directly concerns Hamlet in one way or another. The scene exhibits the prince alone on stage in a soliloquy to illustrate his inne rmost thoughts, as well as in the presence of others; thus, the reader learns of Hamlet’s propensity to feel, think, or say one thing, while his actions do not always cohere with his thoughts or speech. In this way, one of Hamlet’s tragic character flaws lends itself to the aforementioned discord between thinking and acting, and the scene chronicles the ways in which his dissonance profoundly affects the major themes and characters of the play. Scene 3.1 first unfolds with King Claudius, Queen Gertrude, Polonius and Hamlet’s cronies Rosencrantz and Guildenstern in anxious dialogue concerning Hamlet’s recent shift in disposition. Claudius refers to Hamlet’s recent state as a put-on of â€Å"confusion† (3.1.2) and a â€Å"turbulent and d... ...impressive ability to move and shape the play’s characters in such a way that the threads of language create a complex web between the layers of each character involved. In this way, the psychology of the characters gains autonomy from the bounds of authorship through the very language of the text and begs to move freely within the text. Shakespeare entrusted an enormous power into Hamlet’s character, especially, because though he acts tentatively and waveringly, the character of him, including his disposition, manners, speech and outward exhibitions, adhere to the other characters of the play as puppet strings, and he inspires almost all of their actions because of his own reluctance to initiate movement. This interdependence of the minutiae of the complex text contributes to the achieved brilliance and long-lived speculation regarding Shakespeare’s tragic play.

Externality Case Study Essay

What is the equilibrium wage? _$60,000_________________________ Now, consider this scenario: Due to an increase in the internet security threats, the government wants to apply a price control in this market to encourage more people to become internet security professionals. Assume that a wage control is set at $75,000. Will this increase the number of people entering this labor market? Why or why not? Will this increase the number of people hired? Why or why not? It will increase the number of people entering this labor market because of the increase of pay from the equilibrium will be enticing, but this will cause a shortage in the labor market. Because the number of people entering this labor market has increased, there will not be enough positions for them. Due to this, the number of people hired will decrease. Also, another factor to take into account is the budget for the companies for these positions. If the equilibrium is set at $60,000 the company might not be in a position to increase the pay rate to accommodate the price control, thus causing them not to be able to fill those positions. 2. Assume you are a policymaker in Washington DC. Lobbyists for the preschoolers of America have put pressure on their representatives to cap prices on graham crackers. You have been assigned a position on a new committee to study the impact of a price ceiling on graham crackers. Your job is to: a.) Illustrate using a fully labeled supply and demand graph (label all the axes and any lines you put in your graph) what such an artificial price looks like. b.) Explain what the results of such a move are for the graham cracker market. In other words, will there be a SHORTAGE, a SURPLUS, or neither created? Why? b.) There will be a shortage created. Initially the public might be happy about the price ceiling, but soon after the sellers will begin to ration the graham crackers based on other factors since the one most willing to pay will no longer be a factor. Also, this might cause consumers to stand in long lines in order to be able to purchase the graham crackers, but since there are not enough graham crackers supplied, not everyone will be able to purchase the graham crackers. In the end, producers will move on to produce other products that are more profitable than graham crackers, worsening the shortage. 3. Pollution is considered by most a negative externality. Some economists  would like to see the costs of these burdens incorporated into the price of goods that we buy. For instance, since coal fire power plants increase emissions that could potentially lead to climate change, these economists believe that the price we pay for electricity is not adequately high enough. Draw a completely labeled graph and illustrate on the graph how much higher electricity prices would be if the full costs of electricity production were taken into account. You do not need to provide actual numbers; rather, show on the price axis where the price would be before the externality is considered and the price after the externality is included. What problems might exist in determining this new, externality based, price? People might not be able to afford the new prices if the external costs are included which may lead to the consumers to look for alternatives in power source. Some of these alternatives may include using more archaic versions such as firewood or coal, which may increase pollution. Or they might be lead to steal electricity or use the black market for alternative power source. 4. In the old days lighthouses were built along the coast to prevent ships from running aground on rocks in unfamiliar ports. By shining a beam of light over a port and guiding ships away from rocks, these vital buildings reduced the risk for ship captains and were generally considered to be extremely valuable resources. Curiously, lighthouses were almost always run and maintained by local governments. Explain in economic terms why private firms would not run a lighthouse. A private firm would not run a lighthouse because it is considered a public good. The lighthouse is non-excludable since the private company cannot exclude anyone from using the lighthouse. It is also non-rivalrous since the quality does not go down if other ships or companies use the lighthouse. If a private firm built a lighthouse, eventually other businesses will use the lighthouse to travel to the port causing the private firm to be upset about the other firms taking advantage of its use. Since the private firm would not be interested in building lighthouses because it is non-excludable and non-rivalrous, it would be in the governments best interest to use its resources (taxes and such) to build the lighthouse. This in turn will help improve the economy since the  companies can now bring their supplies without fear of losing their ships in the night.