The Awakening :: Essays Papers

The Awakening Edna’s arousing, from the earliest starting point in Grand Isle, to her life in New Orleans lastly her passing back in Grand Isle, happens out of nowhere. She goes from a calm, held woman, to a straightforward, solid willed lady. Regardless of this emotional change, one trademark stayed consistent all through the book. She was extremely befuddled about what her identity was and what she needed throughout everyday life. She is sought after by Robert, and is astounded when affections for him mix inside her. Toward the start of the book, she excuses him, predominantly in light of the fact that she was hitched. â€Å"Mrs. Pontellier was happy he had not expected a comparative job toward herself. It would have been unsatisfactory and annoying.† As the weeks go on, her demeanor changes incredibly. Her reaction to Robert is one of adoration and energy. â€Å"I love you,† she murmured â€Å"only you, nobody however you†¦Ã¢â‚¬  (page 179, fifth passage). Edna regularly doesn’t comprehend her feelings and what is happening in her mind, and she likewise often confuses them. In view of this she is a truly eccentric character, her activities and words are conflicting in their messages. â€Å"Edna Pontellier couldn't have explained why, wishing to go to the sea shore with Robert, she ought to in any case have declined, and in the runner up have followed in submission to one of the two conflicting driving forces which affected her. â€Å"Yes,† she said. â€Å"The years that are gone appear dreams-on the off chance that one may continue resting and dreaming-yet to wake up and discover goodness! well! maybe it is smarter to wake up all things considered, regardless of whether to endure, as opposed to stay a hoodwink to hallucinations all one’s life.† She appeared to invite her enlivening and, from the outset, delighted in it. There were disadvantages to it however, similarly as advantages. Individuals around her were profoundly harmed by a portion of her free, and in some cases self-assimilated, activities. By giving her affections for Robert access, she found enthusiasm, and yet, agony and misfortune. The idea of proceeding with her life the manner in which it was, and not having the option to be with Robert drove her to such hopelessness she arrived at the resolution it was in an ideal situation not living. As miserable as this appears, she found a sense of contentment with herself when she kicked the bucket, which eventually was all that she was taking a stab at.

Fowlers Toad essays

Fowler's Toad expositions Zebra mussels are channel feeders, and they are equipped for separating around one liter of water every day while taking care of essentially on green growth. They were shipped from Europe as stowaways in the weight water of transoceanic ships and posture huge social, financial The zebra mussel upsets natures evolved way of life. They evacuate about all molecule matter, by expelling huge measures of tiny fish from the water. They expel nourishment for tiny zooplankton, which thus are nourishment for fish hatchlings, adolescent fishes, and other microscopic fish taking care of search fish. These rummage fish support game and business fisheries. This opposition for tiny fish, the base of the marine natural way of life, could lastingly affect the fish populaces of the Great Lakes. Most rough regions of Lake Erie are totally canvassed in the mussel a few inches down. In a research facility perception, the collection in these beds makes a foul situation with exceptionally acidic water. Positive/Negative Effects on the Ecosystem In Lake Erie the zebra mussel has just decreased local mussels. The filthy water will decrease vitality stores of fish since they need to work more diligently to remain alive. It will likewise expand defenselessness to the next condition stresses. For example, outrageous water temperatures, absence of food, or parasites and malady. As zebra mussel spread, they may dispose of rarer types of mussels. The zebra mussel has improved the water lucidity of Lake Erie. The sifting of water may build the presentation people and creatures need to natural contaminations. Early examinations have demonstrated that the zebra mussel can gather natural poisons in their tissue to more then multiple times more prominent than focuses in the earth. They at that point store these poisons in their waste. These are at that point left behind the evolved way of life so any fish or waterfowl who co ... <!

I like to do the jumble sometimes

I like to do the jumble sometimes Now that its high season for interviews (especially for you early action folks), Ive been thinking back a bit to my college interviews. My MIT interview was with an elderly alum, known to me as Mr. Neighbours, who was one of MITs Educational Counselors, or ECs. He had retired to the town next to mine. I dont remember much from the interview except that it was at his house, which was quite dark, and seemed kinda scary to me. Nevertheless, he was nice if not particularly dynamic. He entered MIT just before the onset of World War II, and his MIT, while having the same values, was quite different from the MIT I would come to know (for example, there were many fewer humanities courses, student activities, and female students). I dont remember anything about the interview itself. It was interview season, and I was doing one every week or so. But with the 20-20 hindsight of an admissions officer, I suspect that interview helped me quite a bit. At MIT, the interview is an important part of the admissions process. The interview report is often one of the most helpful pieces of the application, since our interviewers ask the questions that we wish we could ask you. It supplies depth to your application, and often serves to amplify the strongest parts of your file. I remember several of my other interviews. My Dartmouth interviewer was so cool as to make it one of my new top choices (that, combined with a major in geography!). As you know, I ultimately didnt choose Dartmouth, but a nice alumna did make me consider it strongly. An alumnus of another Ivy League institution, on the other hand, asked me what made me special enough to attend his school. That was certainly a turn-off, though really the school is a fine place. So perhaps the lesson for this paragraph is, dont judge a school by its interviewer. I did keep up with Mr. Neighbours for a few years after I came to MIT. He was a great resource for me during the college selection process, and ultimately turned out to be a pretty good guy. I hope that youll also use your EC as a resource during the process and beyond. The best advice I can give you for the interview is to be yourself. Treat the interview as a conversation, and as an opprtunity for MIT to get to know the real you. And definitely schedule the interview early. If youre reading this, what are you waiting for? In other news, Im back in Boston briefly before heading to New Jersey and New York on Monday. Pirates of the Caribbean is on cable (I was shocked that the Academy did something right and nominated Johnny Depp for an Oscar). My time on the west coast was great, and I got to meet some really fantastic students (hi!). The biggest challenge in New York will be finding a friendly place to watch the Red Sox-Yankees games. I hope I make it out of New York alive.

An Overview Of Financial Management And The Financial...

An Overview of Financial Management and the Financial Environment Matthew Ellsworth Abstract Financial Management usually involves the process of planning, organizing and controlling the financial activities of any enterprise to achieve the goals and objectives in financial terms of that enterprise. The main objectives of financial management would be to create wealth for the business in terms of movable cash for the organization and to ensure that the target return in investments is meet at all times. The three key elements in financial management in simple terms may be put as a three step continuous process involving financial planning, financial control and financial decision-making. In this post, we will discuss the types of company ownerships, the objectives and the derivatives. Overview of Financial Management and Financial Environment Financial Management is concerned with achieving the overall goals of the business firm by acquiring, financing and controlling the assets of the firm. Financial Management can be described as an integrated decision-making process as it has a virtual impact on the achievement of the overall organizational goal. There are three key elements in financial management namely financial planning, financial control and financial decision-making. In financial planning the management needs to ensure that enough funding is available to meet the requirements of that business. Financial control is the most important activity whichShow MoreRelatedChapter 1 Overview of Financial Management Environment2510 Words   |  11 PagesCHAPTER 1 Overview of Financial Management Environment 1-1 Overview of Financial Management Role of financial management Forms of business organization Goals of the corporation Agency relationships 1-2 All Successful Firms Accomplish 2 Goals They identify, create, deliver products or services that are highly valued This happens only if the firm provides more value than its competitors (in the form of either lower prices or better products) They sell at prices high enough to cover costsRead MoreThe Marketing Handbook Critique762 Words   |  4 PagesIn The Marketing Plan Handbook, Chernev gives a simplified approach to writing marketing plans. It outlines the basic principles of writing a marketing plan and it puts emphasis on marketing as a value-management process. It incorporates the relevant aspects of the business, such as the financial, operational, technological and organizational aspects. Chernev states that marketing plans do not have to be lengthy but should contain need-to-know information and not so much nice-to-know informationRead MoreY-M-C-a! a Business Overview of a Non-Profit Organization Essay1723 Words   |  7 PagesBusiness Overview of a Non-Profit Organization Crystal Hunter American Intercontinental University Abstract A semi-detailed business overview of the non-profit organization known as the YMCA or Young Men’s Christian Association is discussed. A brief history of the origins of the company is detailed along with the definition or explanation of the company’s mission statement. The organization’s basic legal, social, and economic environment is described. Likewise the YMCA’s management structureRead MoreCommonwealth Bank : A Public Company1045 Words   |  5 Pagesthe Asia Pacific Region. It is Australia’s leading provider of combined financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and share broking products and services. Commonwealth Bank focuses on their key stakeholders such as employees, shareholders and customers. They ensure their employees have a safe working environment and have access to ongoing training development. They provide informa tionRead MoreThe Software Development Plan ( Sdp ) Essay708 Words   |  3 Pages1. Overview The software development plan (SDP) provides an overview of the schedule, tasks, and resources required to build and deliver the Bed and Breakfast room management tracker. This document will list, in detail, the project assumptions, deliverables, and schedule. 1.1 Summary 1.1.1 Purpose, Scope and Objectives The objectives of the RMT are to provide software to increase the efficiency of personnel managing small bed and breakfast company. By providing a software application to manage theRead MoreSample Resume : Mavericks Scheduling Service Essay1038 Words   |  5 Pages Table of Content I. INTRODUCTION A. Background and Context B. Project Summary C. Management D. Competitors and features E. Risk Management II. OVERVIEW A. Organization of work B. Introduction- general description and milestones C. Work planning and timetable D. Deliverables III. CONSORTIUM AND RESOURCES A. Consortium B. Financial resources IV. DETAILD DESCRIPTION OF WORK A. Work Packages Management I. INTRODUCTION A. Background and Context MSS (MaverickRead MoreBalanced Scorecard1453 Words   |  6 PagesScorecard Executive Summary â€Å"General Dynamics is one of the market leaders in business aviation, combat vehicles, weapon systems and munitions; ship building and marine systems; and mission-critical information systems and technology (Corporate Overview, 2012).† In 2012, General Dynamic’s revenue has expanded from $4 billion to over $32 billion and the workforce has steadily increased from 29,000 to over 95,000 employees. Currently General Dynamics consist of the following four divisions AerospaceRead MoreWealth Management Pdf1324 Words   |  6 Pagesresearchandmarkets.com/reports/655561/ Wealth Management in India Description: This Prefeasibility Report is a must read for those interested in setting up a project or having interest in the given sector. It provides the requisite inputs for setting up a specific project. These inputs range from broad market aspects to details like funding of the project, selection of location, plant and machinery plan etc. The report comes with a soft copy of a financial model. To check the viability of his/her projectRead MoreInternational Accounting1598 Words   |  7 PagesAYB 311 FINANCIAL ACCOUNTING ISSUES Semester 1 2011 Dr Amedeo Pugliese Lecture 1 AYB 311 - Dr Amedeo Pugliese Overview of AYB 311: the Teaching Team Lecturer –†¯ Amedeo Pugliese Tutors –†¯ Amedeo Pugliese –†¯ Julie Greenhalgh –†¯ Kevin Plastow –†¯ Natalee Jennings –†¯ Sharron Genrich –†¯ Tereaze Hubner AYB 311 - Dr Amedeo Pugliese Overview of AYB 311: enrolment and objectives Prerequisite: -†¯AYB340 (formerly AYB220) Company Accounting Please notice: The unit-coordinator will not accept anyRead MoreComparitive Paper621 Words   |  3 PagesComparing the Financial Environments Yvonne Young Tricia Jenkins HCS/577 July 20 2015 Comparative Summary For Profit Organization, Not for Profit Organization, Government Organization Home Health Doctors without Borders, World Health Organization Financial structure * For profit organization (Home Health) 1. Combining profitable business with meaningful opportunities helping clients maintain quality of life. Contribution of staff

Dissociative Identity Disorder - 970 Words

Dissociative Identity Disorder (DID), formerly known as Multiple Personality Disorder (MPD) is a severe condition in which two or more dissimilar identities, or character states, are present and alternately take control of an individual. The person experiences memory loss that is vaguely extensive to be explained as common forgetfulness. These symptoms are not taken in consideration for by seizures, substance abuse or any other medical conditions. Description of DID: Symptoms: At least three of the following symptoms must be present: (1) Callous unconcern towards the feelings of other individuals. (2) Unpleasant and relentless attitude of irresponsibility and disrespect for the social norms, rules, and obligations.†¦show more content†¦When evaluating children, it is also important to ensure that symptoms are distinguishable from imaginary play.†(American Psychiatric Association, 2000) Prevalence Co morbidity In clinical populations, the estimated prevalence of DID ranges from 0.5 to 1.0% (Maldonado, Butler, Spiegel, 2002). In the general population, estimates of prevalence are somewhat higher, ranging from 1-5% (Rubin Zorumski, 2005). Females are more likely to receive a diagnosis of DID, at a ratio of 9:1 (Lewis-Hall, 2002). This author also contends that the disproportionately high number of females diagnosed with DID dispels the notion that incestual abuse is largely responsible for the development of DID. High percentages of individuals with DID have comorbid diagnoses of Post-Traumatic Stress Disorder or Borderline Personality Disorder (Gleaves, May, Cardeà ±a, 2001). In addition, individuals diagnosed with DID commonly have a previous diagnosis of Schizophrenia. However, this most likely represents a misdiagnosis rather than comorbidity, due to the fact that both disorders involve experiencing Schneiderian symptoms (ibid.). Other possible comorbid disorders involve substance abuse, eating disorders, somatoform disorders, problems of anxiety and mood, personality disorders, psychotic disorders, and organic mental disorders (ISSD, 2005), OCD, or some combination of conversion and somatoform disorder (Kaplan Sadock,Show MoreRelatedDissociative Identity Disorder ( Dissociative Disorder )1040 Words   |  5 PagesDissociative Identity Disorder Dissociative identity disorder, formerly known as Multiple Personality Disorder, is a mental illness that is greatly misunderstood, much like many other mental illnesses. Nicholas Spanos, Professor of Psychology, hypothesized Multiple Personality Disorder as a defense against childhood trauma that creates â€Å"dissociation† or a split mental state. The trauma sustained during childhood is so substantial, that the individual creates different identities to cope with itRead MoreDissociative Identity Disorder ( Dissociative Disorder )1194 Words   |  5 PagesDissociative Identity Disorder is a disorder distinguished by the existence of two or more distinct personality states. It is also known as DID or Multiple Personality Disorder. It is very rare, with only 20,000 to 200,000 known US cases per year. Currently, there is no known cure, but treatment can sometimes help. Many believe that DID can be caused by a significant trauma and is used as a coping mechanism to help avoid bad memories. The disorders most often form in kids victim to long-term physicalRead MoreDissociative Identity Disorder2780 Words   |  12 PagesDissociative Identity Disorder Imagine waking up in a new house, town, city, even state and not knowing how you got there. Now add onto that thought of forgetting almost a year of your life because someone else, or something, has taken over your body. That is just a look into dissociative disorders in general. Dissociative Disorders are ‘extreme distortions in perception and memory† (Terwilliger 2013). Dissociative Identity Disorder (DID), or previously known as Multiple Personality Disorder, isRead MoreDissociative Identity Disorder2296 Words   |  9 Pagesdefines dissociative identity disorder (DID) as the occurrence of a minimum of two different personalities and maybe more than two. It also clarifies that the switching between the distinct personalities can be observed by the individual who is suffering from dissociative identity disorder or witnessed by others. (Barlow, 2014, P. 1). This disorder used to be known as multiple personality disorder, which is more recognized and understood to peop le without a psychology background. This disorder can beRead MoreDissociative Identity Disorder1221 Words   |  5 PagesThis research paper is about Dissociative identity disorder (DID) as known as multiple personality disorder. DID in which a person could have many different parts to their personality due to severe stress and an experience of a trauma. A person with DID when the have control over their one identity they cannot remember what they did when their other identities were in control. Most of the time people with DID have two personalities but they could have more than two which is referred as alters. ThenRead MoreDissociative Identity Disorder : Dissociative Identification Disorder1485 Words   |  6 PagesDissociative Identity Disorder Dissociative Identity Disorder is a mental disorder where an individual experiences two or more distinct personalities. When an individual is diagnosed with Dissociative Identity Disorder, one personality has dominant control of an individual. This personality controls how a person may act and how they live everyday life. A person diagnosed with this disease may or may not be aware of their alternate personalities. Each personality is contrasting of each other withRead MoreDissociative Identity Disorder2158 Words   |  9 Pagesâ€Å"Dissociative Identity Disorder† Through out the years there has been many disorders that continue to be diagnosed on people, many can be difficult to deal with. Some of these disorders can be uncontrollable and can make it harder on the patients who are trying to get better. Disorders are not sicknesses that can be cured and gone with a couple of doses of medicine, disorders are serious problems a person has to deal with usually if not for a large amount of time, it can be every day for the restRead MoreDissociative Identity Disorder1030 Words   |  5 PagesDissociative Identity Disorder Defining what is abnormal is not necessarily easy. There are many different criteria to determine what exactly is normal and what is abnormal. According to Ciccarelli and White (2012) as early as 3000 B.C.E. there have been human skulls found with holes in them. Archaeologists suspect this was caused because of the treatments they had years ago such as â€Å"trepanning†. Trepanning is done nowadays as well to remove extra fluids from the brain, as for years ago doctors didRead MoreDissociative Identity Disorder ( Dissociative Personality )1254 Words   |  6 PagesDissociative identity disorder (previously known as multiple personality disorder) is thought to be a complex mental condition that is likely brought on by numerous variables, including serious injury amid early adolescence generally compelling, repetitive physical, sexual, or psychological mistreatment. The greater part of us have encountered mild dissociation, which resemble wandering off in fantasy land or losing all sense of direction at the time while taking a shot at an undertaking. In anyRead MoreDissociative Identity Disorder1678 Words   |  7 PagesDissociation is defined as â€Å"a mental process, which produces a lack of connection in a person s thoughts, memories, feelings, actions, or sense of identity† (Grohol, 2016). The Dissociative Identity Disorder (DID) is a severe condition in which two or more separate, distinct identities or personality states are present in an individual. In other words, a person has, what seems like, actual distinct and contrasting people in their head and these â€Å"alters† are able to take control of an individual’s

Pie 123 Free Essays

1. External  economies  of  scale  arise  when  the  cost  per  unit A. rises  as  the  industry  grows  larger. We will write a custom essay sample on Pie 123 or any similar topic only for you Order Now B. falls  as  the  industry  grows  larger  rises  as  the  average  firm  grows  larger. C. falls  as  the  average  firm  grows  larger. D. remains  constant. E. None  of  the  above. Answer:  B 2. Internal  economies  of  scale  arise  when  the  cost  per  unit A. rises  as  the  industry  grows  larger. B. falls  as  the  industry  grows  larger. C. rises  as  the  average  firm  grows  larger. D. falls  as  the  average  firm  grows  larger. E. None  of  the  above. Answer:  D 3. External  economies  of  scale A. ay  be  associated  with  a  perfectly  competitive  industry. B. cannot  be  associated  with  a  perfectly  competitive  industry. C. tends  to  result  in  one  huge  monopoly. D. tends  to  result  in  large  profits  for  each  firm. E. None  of  the  above. Answer:  A 4. Internal   economies  of  scale A. may  be  associated  with  a  perfectly  competitive  industry. B. cannot  be  associated  with  a  perfectly  competitive  industry. C. are  associated  only  with  sophisticated  products  such  as  aircraft. D. cannot  form  the  basis  for  international  trade  . E. None  of  the  above. Answer:  B 5. A  monopolistic  firm A. an  sell  as  much  as  it  wants  for  any  price  it  determines  in  the  market. B. cannot  determine  the  price,  which  is  determined  by  consumer  demand. C. will  never  sell  a  product  whose  demand  is  inelastic  at  the  quantity  sold. D. cannot  sell  additional  quantity  unless  it  raises  the  price  on  each  unit. E. None  of  the  above. Answer:  C 7 6. Monopolistic  competition  is  associated  with A. cut-throat  price  competition. B. product  differentiation. C. explicit  consideration  at  firm  level  of  the  feedback  effects  of  other  firms’ pricing  decisions. D. high  profit  margins. E. None  of  the  above. Answer:  B 29. Two  countries  engaged  in  trade  in  products  with  no  scale  economies,  produced under  conditions  of  perfect  competition,  are  likely  to  be  engaged  in A. monopolistic  competition. B. inter-industry  trade. C. intra-industry  trade. D. Heckscher-Ohlin  trade. E. None  of  the  above. Answer:  B 19. A  monopoly  firm  engaged  in  international  trade  will A. equate  average  to  local  costs. B. equate  marginal  costs  with  foreign  marginal  revenues. C. equate  marginal  costs  with  the  highest  price  the  market  will  bear. D. equate  marginal  costs  with  marginal  revenues  in  both  domestic  and  in foreign  markets. E. None  of  the  above. Answer:  D 9. Where  there  are  economies  of  scale,  the  scale  of  production  possible  in  a  country is  constrained  by A. the  size  of  the  country. B. the  size  of  the  trading  partner’s  country. C. the  size  of  the  domestic  market. D. the  size  of  the  domestic  plus  the  foreign  market. E. None  of  the  above. Answer:  D Brown field : , Green field : 21. A  firm  in  monopolistic  competition A. earns  positive  monopoly  profits  because  each  sells  a  differentiated product. B. earns  positive  oligopoly  profits  because  each  firm  sells  a  differentiated product. C. earns  zero  economic  profits  because  it  is  in  perfectly  or  pure  competition. D. earns  zero  economic  profits  because  of  free  entry. E. None  of  the  above. Answer:  D 16. International  trade  based  on  scale  economies  is  likely  to  be  associated  with A. Ricardian  comparative  advantage. B. comparative  advantage  associated  with  Heckscher-Ohlin  factor- proportions. C. comparative  advantage  based  on  quality  and  service. D. comparative  advantage  based  on  diminishing  returns. E. None  of  the  above. Answer:  E ———————————————Ch7———————————————- . The  effective  rate  of  protection  measures A. the  Ã¢â‚¬Å"true†Ã‚  ad  valorum  value  of  a  tariff. B. the  quota  equivalent  value  of  a  tariff. C. the  efficiency  with  which  the  tariff  is  collected  at  the  customhouse. D. the  protection  given  by  the  tariff  to  domestic  value  added. E. None  of  the  above. Answer:  D 1. Specific  tariffs  are A. import  taxes  stated  in  specific  legal  statutes. B. import  taxes  calculated  as  a  fixed  charge  for  each  unit  of  imported  goods. C. import  taxes  calculated  as  a  fraction  of  the  value  of  the  imported  goods. D. the  same  as  import  quotas. E. None  of  the  above. Answer:  B . Ad  valorem  tariffs  are A. import  taxes  stated  in  ads  in  industry  publications. B. import  taxes  calculated  as  a  fixed  charge  for  each  unit  of  imported  goods. A. import  taxes  calculated  as  a  fraction  of  the  value  of  the  imported  goods. B. the  same  as  import  quotas C. None  of  the  above. Answer:  C The  main  redistribution  effect  of  a  tariff  is  the  transfer  of  income  from A. domestic  producers  to  domestic  buyers. B. domestic  buyers  to  domestic  producers. C. domestic  producers  to  domestic  government. D. domestic  government  to  domestic  consumers. E. None  of  the  above. Answer:  B 21. Which  of  the  following  policies  permits  a  specified  quantity  of  goods  to  be imported  at  one  tariff  rate  and  a  higher  tariff  rate  to  imports  above  this  quantity? A. Import  tariff B. Voluntary  exports  restraint C. Tariff  quota D. Ad  valorum  tariff E. None  of  the  above. Answer:  C 22. Should  the  home  country  be  Ã¢â‚¬Å"large†Ã‚  relative  to  its  trade  partners,  its  imposition  of a  tariff  on  imports  would  lead  to  an  increase  in  domestic  welfare  if  the  terms  of the  trade  rectangle  exceed  the  sum  of  the A. revenue  effect  plus  redistribution  effect. B. protective  effect  plus  revenue  effect. C. consumption  effect  plus  redistribution  effect. D. protective  distortion  effect  plus  consumption  distortion  effect. E. None  of  the  above. Answer:  D An import quota: Is always more costly to a country than an import tariff. Has the same effects on welfare as an import tariff. Generates rents that might go to foreigners. Is always less costly to a country than an import tariff. - - ? ? ——————————-Ch9——————————————- 27. The  imperfect  capital  market  justification  for  infant  industry  promotion A. Assumes  that  new  industries  will  tend  to  have  low  profits. B. Assumes  that  infant  industries  will  soon  mature. C. Assumes  that  infant  industries  will  be  in  products  of  comparative advantage. D. Assumes  that  banks  can  allocate  resources  efficiently. E. None  of  the  above. Answer:  A 2. Sophisticated  theoretical  arguments  supporting  import-substitution  policies include A. Terms  of  trade  effects. B. Scale  economy  arguments. C. Learning  curve  considerations. D. The  problem  of  appropriability. E. None  of  the  above. Answer:  D 14. Which  industrialization  policy  used  by  developing  countries  places  emphasis  on the  comparative  advantage  principle  as  a  guide  to  resource  allocation? A. Export  promotion. B. Import  substitution. C. International  commodity  agreements. D. Infant  Industry  promotion. E. None  of  the  above. Answer:  A 1. The  infant  industry  argument  was  an  important  theoretical  basis  for A. Neo-colonialist  theory  of  international  exploitation. B. Import  Ã¢â‚¬â€œÃ‚  substituting  industrialization. C. Historiography  of  the  industrial  revolution  in  Western  Europe. D. East-Asian  miracle. E. None  of  the  above. Answer:  B 6. The  wage  differential  theory  which  argued  that  shifting  resources  from  agriculture to  manufacturing  entailed  positive  social  benefits  implied  that A. Free  trade  policies  would  promote  competitiveness. B. Free  trade  policies  would  promote  economic  growth  for  both  static  and dynamic  reasons. C. Protectionism  was  likely  to  lead  to  economic  stagnation. D. Protectionism  and  import  substitution  was  likely  to  promote  economic growth. Answer:  D 12. Which  trade  strategy  have  developing  countries  used  to  restrict  imports  of manufactured  goods  so  that  the  domestic  market  is  preserved  for  home  producers, who  thus  can  take  over  markets  already  established  in  the  country? A. International  commodity  agreement. B. Export  promotion. C. Multilateral  contract. D. Import  substitution. E. None  of  the  above. Answer:  D 18. Import  substitution  policies  make  use  of A. Tariffs  that  discourage  goods  from  entering  a  country. B. Quotas  applied  to  goods  that  are  shipped  abroad. C. Production  subsidies  granted  to  industries  with  comparative  advantage. D. Tax  breaks  granted  to  industries  with  comparative  advantage. E. None  of  the  above. Answer:  A 25. The  infant  industry  argument  is  that A. Comparative  advantage  is  irrelevant  to  economic  growth B. Developing  countries  have  a  comparative  advantage  in  agricultural  goods. C. Developing  countries  have  a  comparative  advantage  in  manufacturing. D. Developing  countries  have  a  potential  comparative  advantage  in manufacturing. E. None  of  the  above. Answer:  D 26. The  infant  industry  argument  calls  for  active  government  involvement A. Only  if  the  government  forecasts  are  accurate. B. Only  if  some  market  failure  can  be  identified. C. Only  if  the  industry  is  not  one  already  dominated  by  industrial  countries. D. Only  if  the  industry  has  a  high  value  added. E. None  of  the  above. Answer:  B 30. Import  substitution  policies  have  over  time  tended  to  involve  all  but  the  following A. Overlapping  import  quotas. B. Exchange  controls. C. Domestic  content  rules. D. Simple  tariffs. E. Multiple  exchange  rate  schemes. Answer:  D 35. The  HPAE  (High  Performance  Asian  Economies)  countries A. Have  all  consistently  supported  free  trade  policies. B. Have  all  consistently  maintained  import-substitution  policies. C. Have  all  consistently  maintained  non-biased  efficient  free  capital  markets . D. Have  all  maintained  openness  to  international  trade. E. None  of  the  above. Answer:  D ================================ch11========================== 1. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  Pakistan  and India  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Pakistan  and  India  fall  between  lower-middle  and  upper-middle Answer:  A 2. While  many  developing  countries  have  reformed  their  economies  in  order  to imitate  the  success  of  the  successful  industrial  economies,  the  process  remains incomplete  and  most  developing  countries  tend  to  be  characterized  by  all  of  the following  except: A. Seigniorage B. Control  of  capital  movements  by  limiting  foreign  exchange  transactions connected  with  trade  in  assets. C. Use  of  natural  resources  or  agricultural  commodities  as  an  important  share of  exports. D. A  worse  job  of  directing  savings  toward  their  most  efficient  investment uses. E. Reduced  corruption  and  poverty  due  to  limited  underground  markets. Answer:  E 4. Compared  with  industrialized  economies,  most  developing  countries  are  poor  in the  factors  of  production  essential  to  modern  industry:  These  factors  are A. capital  and  skilled  labor B. capital  and  unskilled  labor C. fertile  land  and  unskilled  labor D. fertile  land  and  skilled  labor E. water  and  capital Answer:  A 5. The  main  factors  that  discourage  investment  in  capital  and  skills  in  developing countries  are: A. olitical  instability,  insecure  property  rights B. political  instability,  insecure  property  rights,  misguided  economic  policies C. political  instability,  misguided  economic  po licies D. political  instability E. insecure  property  rights,  misguided  economic  policies Answer:  B 6. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  sub-Saharan Africa  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Sub-Saharan  Africa  falls  between  lower-middle  and  upper-middle Answer:  A 7. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  mainland China  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income Answer:  B 8. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  smaller Latin  American  and  Caribbean  countries  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Smaller  Latin  American  and  Caribbean  countries  fall  between  low  income and  lower  middle  income Answer:  D 9. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Saudi Arabia  falls  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Saudi  Arabia  falls  between  low  income  and  lower  middle  income economies Answer:  B 10. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Turkey falls  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Turkey  falls  between  low  income  and  lower  middle  income  economies Answer:  B 11. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Poland, Hungary,  and  the  Czech  and  Slovak  Republics  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Poland,  Hungary,  and  the  Czech  and  Slovak  Republics  fall  between  low income  and  lower  middle  income  economies Answer:  B How to cite Pie 123, Essay examples Pie 123 Free Essays 1. External  economies  of  scale  arise  when  the  cost  per  unit A. rises  as  the  industry  grows  larger. We will write a custom essay sample on Pie 123 or any similar topic only for you Order Now B. falls  as  the  industry  grows  larger  rises  as  the  average  firm  grows  larger. C. falls  as  the  average  firm  grows  larger. D. remains  constant. E. None  of  the  above. Answer:  B 2. Internal  economies  of  scale  arise  when  the  cost  per  unit A. rises  as  the  industry  grows  larger. B. falls  as  the  industry  grows  larger. C. rises  as  the  average  firm  grows  larger. D. falls  as  the  average  firm  grows  larger. E. None  of  the  above. Answer:  D 3. External  economies  of  scale A. ay  be  associated  with  a  perfectly  competitive  industry. B. cannot  be  associated  with  a  perfectly  competitive  industry. C. tends  to  result  in  one  huge  monopoly. D. tends  to  result  in  large  profits  for  each  firm. E. None  of  the  above. Answer:  A 4. Internal   economies  of  scale A. may  be  associated  with  a  perfectly  competitive  industry. B. cannot  be  associated  with  a  perfectly  competitive  industry. C. are  associated  only  with  sophisticated  products  such  as  aircraft. D. cannot  form  the  basis  for  international  trade  . E. None  of  the  above. Answer:  B 5. A  monopolistic  firm A. an  sell  as  much  as  it  wants  for  any  price  it  determines  in  the  market. B. cannot  determine  the  price,  which  is  determined  by  consumer  demand. C. will  never  sell  a  product  whose  demand  is  inelastic  at  the  quantity  sold. D. cannot  sell  additional  quantity  unless  it  raises  the  price  on  each  unit. E. None  of  the  above. Answer:  C 7 6. Monopolistic  competition  is  associated  with A. cut-throat  price  competition. B. product  differentiation. C. explicit  consideration  at  firm  level  of  the  feedback  effects  of  other  firms’ pricing  decisions. D. high  profit  margins. E. None  of  the  above. Answer:  B 29. Two  countries  engaged  in  trade  in  products  with  no  scale  economies,  produced under  conditions  of  perfect  competition,  are  likely  to  be  engaged  in A. monopolistic  competition. B. inter-industry  trade. C. intra-industry  trade. D. Heckscher-Ohlin  trade. E. None  of  the  above. Answer:  B 19. A  monopoly  firm  engaged  in  international  trade  will A. equate  average  to  local  costs. B. equate  marginal  costs  with  foreign  marginal  revenues. C. equate  marginal  costs  with  the  highest  price  the  market  will  bear. D. equate  marginal  costs  with  marginal  revenues  in  both  domestic  and  in foreign  markets. E. None  of  the  above. Answer:  D 9. Where  there  are  economies  of  scale,  the  scale  of  production  possible  in  a  country is  constrained  by A. the  size  of  the  country. B. the  size  of  the  trading  partner’s  country. C. the  size  of  the  domestic  market. D. the  size  of  the  domestic  plus  the  foreign  market. E. None  of  the  above. Answer:  D Brown field : , Green field : 21. A  firm  in  monopolistic  competition A. earns  positive  monopoly  profits  because  each  sells  a  differentiated product. B. earns  positive  oligopoly  profits  because  each  firm  sells  a  differentiated product. C. earns  zero  economic  profits  because  it  is  in  perfectly  or  pure  competition. D. earns  zero  economic  profits  because  of  free  entry. E. None  of  the  above. Answer:  D 16. International  trade  based  on  scale  economies  is  likely  to  be  associated  with A. Ricardian  comparative  advantage. B. comparative  advantage  associated  with  Heckscher-Ohlin  factor- proportions. C. comparative  advantage  based  on  quality  and  service. D. comparative  advantage  based  on  diminishing  returns. E. None  of  the  above. Answer:  E ———————————————Ch7———————————————- . The  effective  rate  of  protection  measures A. the  Ã¢â‚¬Å"true†Ã‚  ad  valorum  value  of  a  tariff. B. the  quota  equivalent  value  of  a  tariff. C. the  efficiency  with  which  the  tariff  is  collected  at  the  customhouse. D. the  protection  given  by  the  tariff  to  domestic  value  added. E. None  of  the  above. Answer:  D 1. Specific  tariffs  are A. import  taxes  stated  in  specific  legal  statutes. B. import  taxes  calculated  as  a  fixed  charge  for  each  unit  of  imported  goods. C. import  taxes  calculated  as  a  fraction  of  the  value  of  the  imported  goods. D. the  same  as  import  quotas. E. None  of  the  above. Answer:  B . Ad  valorem  tariffs  are A. import  taxes  stated  in  ads  in  industry  publications. B. import  taxes  calculated  as  a  fixed  charge  for  each  unit  of  imported  goods. A. import  taxes  calculated  as  a  fraction  of  the  value  of  the  imported  goods. B. the  same  as  import  quotas C. None  of  the  above. Answer:  C The  main  redistribution  effect  of  a  tariff  is  the  transfer  of  income  from A. domestic  producers  to  domestic  buyers. B. domestic  buyers  to  domestic  producers. C. domestic  producers  to  domestic  government. D. domestic  government  to  domestic  consumers. E. None  of  the  above. Answer:  B 21. Which  of  the  following  policies  permits  a  specified  quantity  of  goods  to  be imported  at  one  tariff  rate  and  a  higher  tariff  rate  to  imports  above  this  quantity? A. Import  tariff B. Voluntary  exports  restraint C. Tariff  quota D. Ad  valorum  tariff E. None  of  the  above. Answer:  C 22. Should  the  home  country  be  Ã¢â‚¬Å"large†Ã‚  relative  to  its  trade  partners,  its  imposition  of a  tariff  on  imports  would  lead  to  an  increase  in  domestic  welfare  if  the  terms  of the  trade  rectangle  exceed  the  sum  of  the A. revenue  effect  plus  redistribution  effect. B. protective  effect  plus  revenue  effect. C. consumption  effect  plus  redistribution  effect. D. protective  distortion  effect  plus  consumption  distortion  effect. E. None  of  the  above. Answer:  D An import quota: Is always more costly to a country than an import tariff. Has the same effects on welfare as an import tariff. Generates rents that might go to foreigners. Is always less costly to a country than an import tariff. - - ? ? ——————————-Ch9——————————————- 27. The  imperfect  capital  market  justification  for  infant  industry  promotion A. Assumes  that  new  industries  will  tend  to  have  low  profits. B. Assumes  that  infant  industries  will  soon  mature. C. Assumes  that  infant  industries  will  be  in  products  of  comparative advantage. D. Assumes  that  banks  can  allocate  resources  efficiently. E. None  of  the  above. Answer:  A 2. Sophisticated  theoretical  arguments  supporting  import-substitution  policies include A. Terms  of  trade  effects. B. Scale  economy  arguments. C. Learning  curve  considerations. D. The  problem  of  appropriability. E. None  of  the  above. Answer:  D 14. Which  industrialization  policy  used  by  developing  countries  places  emphasis  on the  comparative  advantage  principle  as  a  guide  to  resource  allocation? A. Export  promotion. B. Import  substitution. C. International  commodity  agreements. D. Infant  Industry  promotion. E. None  of  the  above. Answer:  A 1. The  infant  industry  argument  was  an  important  theoretical  basis  for A. Neo-colonialist  theory  of  international  exploitation. B. Import  Ã¢â‚¬â€œÃ‚  substituting  industrialization. C. Historiography  of  the  industrial  revolution  in  Western  Europe. D. East-Asian  miracle. E. None  of  the  above. Answer:  B 6. The  wage  differential  theory  which  argued  that  shifting  resources  from  agriculture to  manufacturing  entailed  positive  social  benefits  implied  that A. Free  trade  policies  would  promote  competitiveness. B. Free  trade  policies  would  promote  economic  growth  for  both  static  and dynamic  reasons. C. Protectionism  was  likely  to  lead  to  economic  stagnation. D. Protectionism  and  import  substitution  was  likely  to  promote  economic growth. Answer:  D 12. Which  trade  strategy  have  developing  countries  used  to  restrict  imports  of manufactured  goods  so  that  the  domestic  market  is  preserved  for  home  producers, who  thus  can  take  over  markets  already  established  in  the  country? A. International  commodity  agreement. B. Export  promotion. C. Multilateral  contract. D. Import  substitution. E. None  of  the  above. Answer:  D 18. Import  substitution  policies  make  use  of A. Tariffs  that  discourage  goods  from  entering  a  country. B. Quotas  applied  to  goods  that  are  shipped  abroad. C. Production  subsidies  granted  to  industries  with  comparative  advantage. D. Tax  breaks  granted  to  industries  with  comparative  advantage. E. None  of  the  above. Answer:  A 25. The  infant  industry  argument  is  that A. Comparative  advantage  is  irrelevant  to  economic  growth B. Developing  countries  have  a  comparative  advantage  in  agricultural  goods. C. Developing  countries  have  a  comparative  advantage  in  manufacturing. D. Developing  countries  have  a  potential  comparative  advantage  in manufacturing. E. None  of  the  above. Answer:  D 26. The  infant  industry  argument  calls  for  active  government  involvement A. Only  if  the  government  forecasts  are  accurate. B. Only  if  some  market  failure  can  be  identified. C. Only  if  the  industry  is  not  one  already  dominated  by  industrial  countries. D. Only  if  the  industry  has  a  high  value  added. E. None  of  the  above. Answer:  B 30. Import  substitution  policies  have  over  time  tended  to  involve  all  but  the  following A. Overlapping  import  quotas. B. Exchange  controls. C. Domestic  content  rules. D. Simple  tariffs. E. Multiple  exchange  rate  schemes. Answer:  D 35. The  HPAE  (High  Performance  Asian  Economies)  countries A. Have  all  consistently  supported  free  trade  policies. B. Have  all  consistently  maintained  import-substitution  policies. C. Have  all  consistently  maintained  non-biased  efficient  free  capital  markets . D. Have  all  maintained  openness  to  international  trade. E. None  of  the  above. Answer:  D ================================ch11========================== 1. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  Pakistan  and India  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Pakistan  and  India  fall  between  lower-middle  and  upper-middle Answer:  A 2. While  many  developing  countries  have  reformed  their  economies  in  order  to imitate  the  success  of  the  successful  industrial  economies,  the  process  remains incomplete  and  most  developing  countries  tend  to  be  characterized  by  all  of  the following  except: A. Seigniorage B. Control  of  capital  movements  by  limiting  foreign  exchange  transactions connected  with  trade  in  assets. C. Use  of  natural  resources  or  agricultural  commodities  as  an  important  share of  exports. D. A  worse  job  of  directing  savings  toward  their  most  efficient  investment uses. E. Reduced  corruption  and  poverty  due  to  limited  underground  markets. Answer:  E 4. Compared  with  industrialized  economies,  most  developing  countries  are  poor  in the  factors  of  production  essential  to  modern  industry:  These  factors  are A. capital  and  skilled  labor B. capital  and  unskilled  labor C. fertile  land  and  unskilled  labor D. fertile  land  and  skilled  labor E. water  and  capital Answer:  A 5. The  main  factors  that  discourage  investment  in  capital  and  skills  in  developing countries  are: A. olitical  instability,  insecure  property  rights B. political  instability,  insecure  property  rights,  misguided  economic  policies C. political  instability,  misguided  economic  po licies D. political  instability E. insecure  property  rights,  misguided  economic  policies Answer:  B 6. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  sub-Saharan Africa  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Sub-Saharan  Africa  falls  between  lower-middle  and  upper-middle Answer:  A 7. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  mainland China  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income Answer:  B 8. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  smaller Latin  American  and  Caribbean  countries  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Smaller  Latin  American  and  Caribbean  countries  fall  between  low  income and  lower  middle  income Answer:  D 9. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Saudi Arabia  falls  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Saudi  Arabia  falls  between  low  income  and  lower  middle  income economies Answer:  B 10. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Turkey falls  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Turkey  falls  between  low  income  and  lower  middle  income  economies Answer:  B 11. The  world’s  economies  can  be  divided  into  four  main  categories  according  to their  annual  per-capita  income  levels:  low-income,  lower  middle-income,  upper middle-  income  and  high-income  economies. What  category  would  the  Poland, Hungary,  and  the  Czech  and  Slovak  Republics  fall  under? A. Low-income B. Upper  middle-  income C. High-income D. Lower  middle-income E. Poland,  Hungary,  and  the  Czech  and  Slovak  Republics  fall  between  low income  and  lower  middle  income  economies Answer:  B How to cite Pie 123, Papers

Factors behind Unemployment Rate

Question: Identify the reasons behind growing unemployment in the Europe including OECD countries. Answer: Introduction Rising unemployment is a severe threat to an economy. To resolve the problem, it is necessary to identify the factors responsible for it. In this paper, three scholar articles have been analysed. The selected articles are Capital accumulation, labour market institutions and unemployment in the medium run by Stockhammer and Klar (2011); Capital Formation And Unemployment by Rowthorn (1995) and The Role of Shocks and Institutions in the Rise of European Unemployment: the Aggregate Evidence by Blanchard and Wolfers (2000). These articles tried to identify the reasons behind growing unemployment in the Europe including OECD countries. At first, the major findings and arguments of the authors in respective articles have been discussed. Further, this paper has mentioned how the articles are related to each other. At the end, policy recommendations are discussed that can help to deal the problem of unemployment, based on the given articles. Factors responsible for rising unemployment Stockhammer and Klar (2011) have focused on how unemployment is determined by the labor market institutions. However, empirical studies showed that capital accumulation has significant impact on unemployment. It has been claimed that, there is no proof that less labor market rigidity can reduce the level of unemployment. Moreover, non-accelerating inflation rate of unemployment (NAIRU) could not be declined by removing labor market rigidities in OECD countries. Keynesian views states that there is inverse relationship between capital accumulation and unemployment (Stockhammer and Klar 2011, p. 438). The article by Stockhammer and Klar (2011) emphasized on role of capital accumulations role in explaining unemployment. They argued that benefit duration and union density are statistically significant. Bargaining system with a higher degree of employees covered by collective bargaining features lower unemployment. These two variables have positive association. The variable collective bar gaining coverage is negatively correlated to union density. Moreover, employment protection legislation is positively related but insignificant. The author has also found that an increase in capital accumulation by 1% reduces rate of unemployment by 0.87% point with time effect and by 0.92% point without time effect (Stockhammer and Klar 2011, p.449). They argued that inflation rate has insignificant impact on unemployment rate. This article has discussed interaction between labor market institutions and macroeconomic shocks as well as interactions among themselves. Some interactions are reinforcing and some are perverse. Higher interest rate can reduce the unemployment if benefit duration in lengthy and employment protection reduces unemployment if unemployment is low. Rowthorn (1995, p.27) has examined the relationship between employment and the capital stock. He argued that low investment rate in Western Europe was responsible for increasing unemployment in the region. Measures like education, training and labor market reform can be effective in reducing unemployment only if the sufficient investment is made in order to improve productive capacity (Rowthorn 1995, p.27). Moreover, he argued that employment could be generated only through increasing capital stock, instead of generating it on existing capital stock. Evidence has found that short-term oil shock led to increase in non-accelerating inflation rate of unemployment due to loss of capital stock (Rowthorn 1995, p.27). According to his findings, growth rate of labor productivity permits the market to operate with less unemployment; it provides a way through which investment can decrease unemployment in the medium term. Rowthorn (1995, p.35) has also focused in explaining why investment has f allen in OECD countries. He argued that long-term real interest rate should be reduced and there is no short-term constraint on expansion arising from capacity shortage. It is argued that quality of labor supply should be improved. Labor market policies encourage job creation on existing capital stock, but the author argued that these policies actually form capital, which in turn will raise the employment rate in the economy. Blanchard and Wolfers (2000, p.C1) discussed with evidence how economic shocks and institutions increase the unemployment in Europe. Fall in total factor productivity causes rise in equilibrium unemployment rate. However, this is not permanent, as once expectations is adjusted unemployment will tend to fall. This fall in TFP cannot explain the rising trend of unemployment over twenty years, in Europe. The authors (2000, p.C6) have found that real interest rate was negative in the second half to 1970s and then again large during 1980s and 1990s. They argued that these changes will affect the capital accumulation at a given wage rate and demand for labor will be shifted. However, these real interest rate fluctuations have little impact on long run unemployment. When the interest rate is very low, it delays the unemployment rate and due to high rate of real interest, unemployment rises. Blanchard and Wolfers (2000, p.C6) have also mentioned that labor share fell strikingly during 1980s, after being high in 1970s. Due to fall in TFP, demand for labor falls and unemployment increases. These authors have also stated that labor market institutions increase unemployment and change the nature of unemployment. However, some labor market institutions have effect neither on rate nor on nature. This article has also mentioned that collective bargaining; higher minimum wage raises the unemployment. The three given articles focus on explaining the factors that lead to unemployment in the Europe. The articles by Stockhammer and Klar (2011) and Rowthron (1995) identified capital accumulation as major factor behind the rising unemployment. Both articles argued the similar thing that states that for a reduction in unemployment, capital accumulation is required through investment. Another article Blanchard and Wolfers (2000) mentioned the role of labor market institutions in explaining the rate of unemployment, as also stated by Stockhammer and Klar (2011). Moreover, this article emphasis on two factors which explain short-term rise in unemployment, such as TFP and real interest rate (Blanchard and Wolfers 2000). There is a difference between the articles by Blanchard and Wolfers (2000) and Stockhammer and Klar (2011). The first one identified role of labor market institutions as significant, however, the later one mentioned its role but stated that the impact is insignificant. The f actors identified are mostly same in all given articles; the differences lie in the approach and other factors identified in this regard. Conclusion From the above discussion, it has been found that unemployment cannot be reduced after a certain level as that may lead to a rise in the inflation rate. According to the arguments of these three articles, policies can be recommended to reduce unemployment from an economy. It has been argued by the authors that with the help of capital accumulation, the unemployment can be reduced. Hence, the government or policy makers should target to increase investment in the economy for more capital accumulation so that productivity increases and labor demand rises. The labor market institutions must be controlled as some of its measures like unemployment benefits, lead to rise in unemployment. Rowthron suggested in his article, to stress on labor-market policies along with stimulation of capital stock. By controlling real interest rate, the impact of unemployment can be changed. It is recommended that the policy should be focused on good markets rather than labor market, in order to reduce unemp loyment. The policy prescriptions should be modified in a way that it does not discourage the labor force participation and reduce demand for labor; and the most effective way is to stimulate capital formation. References Blanchard, O. and Wolfers, J. (2000). The Role of Shocks and Institutions in the Rise of European Unemployment: the Aggregate Evidence.Economic Journal, 110(462), pp.1-33. Rowthorn, R. (1995). Capital Formation And Unemployment.Oxford Review of Economic Policy, 11(1), pp.26-39. Stockhammer, E. and Klar, E. (2011). Capital accumulation, labour market institutions and unemployment in the medium run.Cambridge Journal of Economics, 35, pp.437-457.

Analysis of Mandiant Cyber Security Company

How Sunscreen SPF Is Measured

How Sunscreen SPF Is Measured SPF (Sun Protection Factor) is a multiplication factor you can use to determine how long you can stay out in the sun before getting a sunburn. If you normally can stay out 10 minutes before burning, a sunscreen with an SPF of 2 will let you stay out twice as long, or 20 minutes, before feeling the burn. An SPF of 70 will let you stay out 70 times longer than if you had no protection (or 700 minutes in this example, which would be over 11 hours or a full day). How Is SPFDetermined? Think SPF is a  calculated value or an experimental lab value, based on how much ultraviolet light penetrates a coating of sunscreen? Nope! SPF is determined using human experimentation. The test involves fair-skinned volunteers (people who burn most quickly). They apply the product and bake in the sun until they start to fry.   What about water resistant? For a sunscreen to be marketed as water resistant, the time required to burn must be the same before and after two consecutive 20 minute soaks in a Jacuzzi. The SPF factors are calculated by rounding down the time required to burn; however, you may get a false sense of protection from an SPF because the amount of sunscreen used in the tests is a lot more product than the average person uses. The tests use 2 milligrams of formula per square centimeter of skin. Thats like using a quarter of an 8-oz bottle of sunscreen for a single application. Still... a high SPF confers more protection than lower SPF.  How Sunless Tanning Works | How Sunscreen Works

Company Law. Case Study Essay Example | Topics and Well Written Essays - 2500 words

Company Law. Case Study - Essay Example Background: Alison Belfield (AB) is a minority shareholder in Commercial Chemical Applications Limited (CCA). Based on AB’s concerns regarding the activities of directors of CCA and the company operations the following facts have come to light. Tom Stockley is a director in CCA who also owns 3% of the shares in Amalgamated Property Holdings Ltd (APH). He introduced the transaction to CCA and is helping in negotiations to buy out APH. AB feels that CCA is not faring well commercially, being burdened with an overdraft of  £3 million, excessive capacity and the need to close down five smaller plants around the country. Any move to acquire APH could push CCA into insolvency. AB, having a financial and property background also feels that the proposed price of APH is too high and in her opinion the financial director, Rachel Nash has over-estimated the worth of APH by  £500,000 to  £600,000. But since Rachel is a chartered accountant by profession, all other directors, who do not have a financial background, rely upon her judgement. APH also has a poor track record of environmental issues, already having being convicted twice for allowing chemicals to leak into the nearby river and under close scrutiny of environmental authorities. The factory too is fairly old and requiring substantial expenditure for its refurbishment which may never happen. The acquisition of APH will inevitably result in the closure of the CCA’s other small plants located in rural areas thereby causing loss of several hundred jobs with very little possibility of being re-employed.

Observation about resarch methodologies Essay Example | Topics and Well Written Essays - 1000 words

Observation about resarch methodologies - Essay Example Increasingly, though, this means of taking account of the world is being questioned, if not discredited† (Jones). Recent growth in media along with the advances of technology made it too commercialized that it now focuses more on providing information about celebrities than delivering real news. Real news which used to be the meat of the media now even has to compete with late night shows due to this commercialized development. The growth of the media changed itself and has shifted its focus from informing the public about real news that forms opinions to merely reporting news about celebrities. Despite the growing diversity of media outlets that now include newspapers, magazines, radios and cable television, its coverage became more mundane and limited as reporters have become more interested in discussing matters that concern more about celebrities because the public enjoys such stories than giving substantive news. This variety in the media creates competition that editors a nd producers alike are pressured to focus their news base on what people enjoys than what really matters for them to increase their ratings. The best example about this is the media frenzy about Michael Jackson’s death. ... This detailed description reveals the proportion of the coverage the media devotes to Michael Jackson. The news about the death of the pop star fills the press around the world as journalists compete about the newest piece of information to share with millions of people while disregarding other more important news. The continuous coverage and the diversity of the media outlet involved explain how celebrities like Michael Jackson play a key role for the industry to thrive. The news of the pop star’s death has succeeded in rendering any major political, economic or social event futile because radio stations, cable television and newspaper editors place more importance on the pop star’s death no matter how trivial it is. An article relating o the pop star’s death even read and informs: â€Å"From the eerily titled ‘Michael Jackson: The Afterlife,’ which airs locally at 8 p.m. on WNEP to a two-hour interview with Michael Jackson's mother, Katherine, on WBRE-TV at 9 p.m, multiple television specials and tributes to the ‘Thriller’ hit maker will fill the airwaves† (Brown). This overwhelming and continuous coverage reflects the fame of the artist and the demand of the public to whom it is directed. Each medium, according to its specialty deals with a form of information suited to its audience which keeps the discussion going. The coverage may discuss Jackson’s financial issues, his children, or his relationship with his family. This statement indicates: â€Å"Additionally, tabloids such as the New York Post and the New York Daily News are reporting information about the singer's family, and non-tabloids, such as The New York Times and

The Spiral Life Cycle Model Information Technology Essay

The Spiral Life Cycle Model Information Technology Essay A spiral model is nothing but a system development life cycle model used in software development project management. Unlike the waterfall model which adopts a more linear approach, the spiral model combines elements of both design and prototyping in stages in an effort The concept and ideology of a spiral life cycle model came into existence in the mid 1980s and was introduced by an American software engineer, Barry Boehm. He penned down his thoughts on the model in his article A Spiral Model of Software Development and Enhancement. Though, this model was not the first model to discuss iterative development; the spiral model proved to be an evident influence on introducing two other software development methodologies, the Model Based Architecture and Software Engineering (MBASE) and Extreme Programming. http://www.docstoc.com/docs/23272870/A-Presentation-On-Using-the-WinWin-Spiral-Model-A Youtube: http://www.youtube.com/watch?v=vj_pqDpLJQ0 spiral iterative development Spiral model The spiral model is a software development process combining elements of both design and prototyping-in-stages, in an effort to combine advantages of top-down and bottom-up concepts. Also known as the spiral lifecycle model (or spiral development), it is a systems development method (SDM) used in information technology (IT). This model of development combines the features of the prototyping model and the waterfall model. The spiral model is intended for large, expensive and complicated projects. History The spiral model was defined by Barry Boehm in his 1986 article A Spiral Model of Software Development and Enhancement[1]. This model was not the first model to discuss iterative development. As originally envisioned, the iterations were typically 6 months to 2 years long. Each phase starts with a design goal and ends with the client (who may be internal) reviewing the progress thus far. Analysis and engineering efforts are applied at each phase of the project, with an eye toward the end goal of the project. Steps The steps in the spiral model iteration can be generalized as follows: The system requirements are defined in as much detail as possible. This usually involves interviewing a number of users representing all the external or internal users and other aspects of the existing system. A preliminary design is created for the new system. This phase is the most important part of Spiral Model. In this phase all possible (and available) alternatives, which can help in developing a cost effective project are analyzed and strategies to use them are decided. This phase has been added specially in order to identify and resolve all the possible risks in the project development. If risks indicate any kind of uncertainty in requirements, prototyping may be used to proceed with the available data and find out possible solution in order to deal with the potential changes in the requirements. A first prototype of the new system is constructed from the preliminary design. This is usually a scaled-down system, and represents an approximation of the characteristics of the final product. A second prototype is evolved by a fourfold procedure: evaluating the first prototype in terms of its strengths, weaknesses, and risks; defining the requirements of the second prototype; planning and designing the second prototype; Constructing and testing the second prototype. Applications The spiral model is mostly used in large projects. For smaller projects, the concept of agile software development is becoming a viable alternative. The US military had adopted the spiral model for its Future Combat Systems program. The FCS project was canceled after six years (2003-2009), it had a two year iteration (spiral). The FCS should have resulted in three consecutive prototypes (one prototype per spiral-every two years). It was canceled in May 2009. The spiral model thus may suit small (up to $3 million) software applications and not a complicated ($3 billion) distributed, interoperable, system of systems. Also it is reasonable to use the spiral model in projects where business goals are unstable but the architecture must be realized well enough to provide high loading and stress ability. For example, the Spiral Architecture Driven Development is the spiral based SDLC which shows the possible way how to reduce a risk of non-effective architecture with the help of spiral model in conjunction with the best practices from other models. Spiral Model History The spiral model was defined by Barry Boehm in his 1988 article A Spiral Model of Software Development and Enhancement. This model was not the first model to discuss iterative development, but it was the first model to explain why the iteration matters. As originally envisioned, the iterations were typically 6 months to 2 years long. Each phase starts with a design goal and ends with the client (who may be internal) reviewing the progress thus far. Analysis and engineering efforts are applied at each phase of the project, with an eye toward the end goal of the project. The Spiral Model The spiral model, also known as the spiral lifecycle model, is a systems development method (SDM) used in information technology (IT). This model of development combines the features of the prototyping model and the waterfall model. Thespiral model is intended for large, expensive, and complicated projects. The steps in the spiral model can be generalized as follows: The new system requirements are defined in as much detail as possible. This usually involves interviewing a number of users representing all the external or internal users and other aspects of the existing system. A preliminary design is created for the new system. A first prototype of the new system is constructed from the preliminary design. This is usually a scaled-down system, and represents an approximation of the characteristics of the final product. A second prototype is evolved by a fourfold procedure: (1) evaluating the first prototype in terms of its strengths, weaknesses, and risks; (2) defining the requirements of the second prototype; (3) planning and designing the second prototype; (4) constructing and testing the second prototype. At the customers option, the entire project can be aborted if the risk is deemed too great. Risk factors might involve development cost overruns, operating-cost miscalculation, or any other factor that could, in thecustomers judgment, result in a less-than-satisfactory final product. The existing prototype is evaluated in the same manner as was the previous prototype, and, if necessary, another prototype is developed from it according to the fourfold procedure outlined above. The preceding steps are iterated until the customer is satisfied that the refined prototype represents the final product desired. The final system is constructed, based on the refined prototype. The final system is thoroughly evaluated and tested. Routine maintenance is carried out on a continuing basis to prevent large-scale failures and to minimize downtime. Applications For a typical shrink-wrap application, the spiral model might mean that you have a rough-cut of user elements (without the polished / pretty graphics) as an operable application, add features in phases, and, at some point, add the final graphics. The spiral model is used most often in large projects. For smaller projects, the concept of agile software development is becoming a viable alternative. The US military has adopted the spiral model for its Future Combat Systems program. Advantages and Disadvantages Advantages Estimates (i.e. budget, schedule, etc.) become more realistic as work progresses, because important issues are discovered earlier. It is more able to cope with the (nearly inevitable) changes that software development generally entails. Software engineers (who can get restless with protracted design processes) can get their hands in and start working on a project earlier. Disadvantages Highly customized limiting re-usability Applied differently for each application Risk of not meeting budget or schedule Risk of not meeting budget or schedule Spiral Model The spiral model is the most generic of the models. Most life cycle models can be derived as special cases of the spiral model. The spiral uses a risk management approach to software development. Some advantages of the spiral model are: defers elaboration of low risk software elements incorporates prototyping as a risk reduction strategy gives an early focus to reusable software accommodates life-cycle evolution, growth, and requirement changes incorporates software quality objectives into the product focus on early error detection and design flaws sets completion criteria for each project activity to answer the question: How much is enough? uses identical approaches for development and maintenance can be used for hardware-software system development

Starbucks Planning

One thing that all managers do is plan. The planning they do may be extensive or it may be limited. It might be for the next week or month or it might be for the next couple of years. It might cover a work group or it might cover an entire division. No matter what type or extent of planning a manager does, the important thing is that planning takes place. Without planning, there would be nothing for managers to organize, lead, or control. Based on the numerous accomplishments that Starbucks has achieved through the efforts of its employees, managers, no doubt, have done their planning. Company Goals As of April 2006, Starbucks had 11,377 stores in 37 countries. During the 30 weeks that ended April 30, the company opened 755 new stores in the United States and 381 new stores overseas. However, that's a far cry from where the company wants and intends to be someday. CEO Jim Donald says Starbucks' long-term goal is 15,000 U. S. stores and 30,000 stores globally. For 2006, the company's goal is to open approximately 1,800 new stores globally and to reach about $7. 6 billion in revenues. Goals for the next 3 to 5 years include attaining total net revenue growth of 20 percent and earnings per share growth between 20 to 25 percent. In addition to its financial and other growth goals, Starbucks has an even â€Å"glitzier† goal. It wants to have a hand in helping define society’s pop culture menu. Although this goal takes Starbucks beyond its coffee roots, it seems to fit well with the unconventional approach to business that Howard Schultz has followed from the beginning. Company Strategies Starbucks has been called the most dynamic retail brand conceived over the last 2 decades. It has been able to rise above the commodity nature of its product and become a global brand leader by reinventing the coffee experience. Millions of times each week, a customer receives a drink from a Starbucks barista. It’s a reflection of the success that Howard Schultz has had in creating something that never really existed in the United States—cafe life. And in so doing, he created a cultural phenomenon. Starbucks is changing what we eat and drink. It’s altering where we work and play. It’s shaping how we spend time and money. No one is more surprised by this cultural impact than Howard Schultz. He says, â€Å"It amazes all of us how we've become part of popular culture. Our customers have given us permission to extend the experience. † Starbucks has found a way to appeal to practically every customer demographic as its customers cover a broad base. It’s not just the affluent or the urban professionals and it's not just the intellectuals or the creative types who frequent Starbucks. You'll find soccer moms, construction workers, bank tellers, and clerical assistants at Starbucks. And despite the high price of its products, customers pay it because they think it's worth it. What they get for that price is some of the finest coffee available commercially, custom preparation, and, of course, that Starbucks ambiance——the music, the comfy chairs, the aromas, the hissing steam from the espresso machine—all invoking that warm feeling of community and connection that Schultz experienced on his first business trip to Italy and knew instinctively could work elsewhere. There's no hiding the fact that Starbucks’ broad strategy is to grow into a global empire. Howard Schultz says, â€Å"We are in the second inning of a 9-inning game. We are just beginning to tap into all sorts of new markets, new customers, and new products. But any growth that Starbucks pursues is done so with great care and planning. CEO Jim Donald says that all company growth is governed by whether quality can be maintained. If there is any uncertainty about quality, a new strategy won’t fly, no matter how good it might seem. Starbucks has designed its growth strategies to exploit the customer connections it has so carefully nurtured and the brand equity it has so masterfully built. And company executives have taken the company in new directions even while continuing to grow store numbers and locations and increasing same—store sales. As the world’s number-one specialty coffee retailer, Starbucks sells coffee drinks, food items, coffee beans, and coffee—related accessories and equipment. In addition, Starbucks sells whole bean coffees through a specialty sales group and grocery stores. Starbucks has grown beyond coffee into related businesses such as coffee—flavored ice cream and ready-to-drink coffee beverages. These Starbucks branded products have been developed with other companies. For instance, its Frappuccino and DoubleShot coffee drinks were developed with Pepsi-Cola. Its Starbucks Ice Cream was developed with Dreyer's. In early 2006, Starbucks launched its ready-to-drink coffee drink, Starbucks Iced Coffee, through a joint venture with Pepsi-Cola. The company extended its success at brand extensions to selected global markets when it launched a fresh Starbucks-branded premium ready-to-drink chilled coffee called Starbucks Discoveries in convenience stores in Taiwan and Japan. This product was enthusiastically embraced by customers immediately. In addition, Starbucks markets a selection of premium tea products since its acquisition of Tazo, LLC. Starbucks has also pursued other strategic initiatives to enhance its core business. For instance, in November 2001, the company launched the Starbucks prepaid card. Since that time, more than 77 million prepaid cards have been activated and loaded with more than $1 billion. The director of Starbucks global card services says, â€Å"We've been pleasantly surprised by the card business, by how fast it's grown in percentage of tender, and how people use the card. It offers so many opportunities to grow from there. It's one of our fastest-growing channels. Industry experts say that part of the reason for its success is its dual use–as gift cards and for customer loyalty. Also important to its success, however; is the fact that the company has made it easy to purchase, reload, and use. The company is on the leading edge in finding innovative ways to get the prepaid cards into potential customers' hands such as parent—student cards, gift-card malls, and business gifts and i ncentives. Having conquered the coffee business, one of the company’s most interesting brand extensions has been music. Selling music at Starbucks began when a store manager made tapes for his store. These tapes proved to be so popular that the company began licensing music compilation CDs for sale. Initially, Howard Schultz had to be persuaded about this product and recalls, â€Å"I began to understand that our customers looked to Starbucks as kind of editor. It was like . . . we trust you. Help us choose. † And it you think about it, music has always been part of the cafe or coffeehouse experience. In addition to selling its private—label CDs, the company launched the HearMusic Cafe in Santa Monica, California, in March 2004. At these stores, customers burn their own compilation CDs. After sampling selections, if they choose to buy, customers can walk up to a music â€Å"bar† and order a custom CD with any variation of songs and have it delivered to their table when it’s completed. Based on the success Starbucks has had with music, it decided to selectively link the Starbucks brand with certain kinds of movies, the first being Akeelah and the Bee. The president of Starbucks Entertainment division says, â€Å"Movies are a very important part of our entertainment strategy. The thought was to start with music, build some success, establish credibility, and then move into films. Eventually, the company wants to be a destination not just for java but also for music, movies, books, and more. Not everything that Starbucks touches turns to gold. One of its big flops was a magazine called Joe launched by the company and Time. It lasted three issues before being called off. A carbonated coffee beverage product called Mazagran, developed with Pepsi—Col a, never made it to market. Too, Starbucks decided to close its Torrefazione Italia cafes when they didn't meet the goals set for them. What about the core industry Starbucks is in? How is it doing? The hot drinks market continues to sizzle. It's forecasted to increase 10. 9 percent between now and 2010. In addition, the 2006 National Coffee Drinking Trends report of the National Coffee Association of the United States says that coffee tied soft drinks in daily market penetration for the first time since 1990. And Starbucks wants to remain at the forefront of the industry. Some 24 percent of Starbucks customers visit 16 times per month—a number that no other fast—food chain even comes close to. There's no doubt that Howard Schultz has built and continues to build Starbucks to be big. Growth has been funded through cash flow, not by selling stock or by using debt financing. Some of the new ideas to be implemented include an aggressive roll-out of drive-through windows, which now number more than 1,000 U. S. locations and 35 Canadian sites; a co-branded Web site between Yahoo! and Starbucks where online daters can arrange to meet and drink free coffee; a partnership between Starbucks and Kellogg that created a hot breakfast product; and two new banana-based blended drinks. Discussion Questions 1. Starbucks has some pretty specific goals it wants to achieve. Given this, do you think managers would be more likely to make rational decisions, bounded rationality decisions, or intuitive decisions? Explain. 2. Give examples of decisions that Starbucks managers might make under conditions of certainty. Under conditions of risk. Under conditions of uncertainty. 3. Make a list of Starbucks’ goals. Describe what type of goal each is. Then, describe how that stated goal might affect, how the following employees do their jobs: (a) a part-time store employee-—a barista—in Omaha; (b) a quality assurance technician at the company's roasting plant in Carson City, Nevada; (c) a regional sales manager; (d) the senior vice president of new markets; and (e) the CEO. . Discuss the types of growth strategies that Starbucks has used. Be specific. 5. Evaluate the growth strategies Starbucks is using. What do you think it will take for these strategies to be successful? 6. What competitive advantage(s) do you think Starbucks has? What will it have to do to maintain that (those) competitive advantage(s)? 7. Do you think the Starbucks brand can become too saturated ·Ã¢â‚¬â€t hat is, extended to too many different products? Why or why not? 8. What companies might be good benchmarks for Starbucks? Why? What companies might want to benchmark Starbucks? Why? 9. Describe how the following Starbucks managers might use forecasting, budgeting, and scheduling (be specific): (a) a retail store manager; (b) a regional marketing manager; (c) the manager of global trends; and (d) the CEO. 10. Describe Howard Schultz as a strategic leader. 11. Is Starbucks â€Å"living† its mission? Explain. (You can find the company mission on its Web site, www. starbucks. com or in the continuing case found at the end of Part 2. 12. Do a brief SWOT analysis of Starbucks.

Ibm Risk Analysis

Relative Size in the Industry IBM is part of the technology sectors in the diversified computer systems industry (IBM: Summary for International Business Machines- Yahoo! Finance). The market cap is 254 billion with IBM making up 218. 6 billion. IBM is the largest company relative to the diversified computer systems industry. In a less specific industry of computers IBM only trails Microsoft Corporation by 12 billion dollars (â€Å"International Business Machines Corp. â€Å").Because of IBM’s large size relative to its industry the relative size does not pose a large business risk to IBM because they can leverage their large market share, capabilities, and achieve economies of scales. Acceptable audit risk is affected by the relative size of IBM in the industry it operates. IBM is a large global corporation and thus there are a very large number of financial statement users. The large number of financial statement users causes the auditors to set acceptable audit risk at a lower number and thus lowering planned detection risk and increasing the amount of evidence that must be accumulated.Major Competitors IBM’s major competitors in the diversified computer systems industry are Hewlett Packard Company Common, Teradata Corporation, Cray Inc. , and Silicon Graphics International (IBM: Summary for International Business Machines- Yahoo! Finance). These competitors do not pose a large risk to IBM because they have much smaller market-shares than IBM Hewlett Packard Company Common IBM’s closest competitor only has a market capitalization of 24. 4 billion and the next closes which is Teradata Corporation only has a market cap of 10. billion (IBM: Summary for International Business Machines- Yahoo! Finance). In the computer industry IBM’s major competitors are Microsoft, Apple, Oracle, Cisco Systems, and Intel Corporation (â€Å"International Business Machines Corp. â€Å") IBM due to operating in over 170 different countries in multipl e different industry segments and competitors vary by segment from large international enterprises to smaller narrowly focused entities and thus IBM recognizes 100s of competitors (International Business Machines Corporation 2011).Intense competition regardless of IBM being a leader in almost all segments however does increase risks for IBM such as price competition which lowers gross margin ratios, losing market share, and obsolescence of current products. IBM’s major competitors by business segment are discussed in the next section. Major Products & Competition by Product IBM’s major business segments are Global Technology Services, Global Business Services, Software, Systems and Technology, and Global Financing.Global Technology Services includes strategic Information Technology outsourcing services to transform clients existing infrastructures, global process services which includes process platforms and business process outsourcing, integrated technology services which are a project based portfolio of services to optimize IT which is built around key assets and patented software to drive efficiency, flexibility, productivity, and reduce costs, and the GTS services delivery which is responsibly or delivery of IBM technology worldwide. International Business Machines Corporation 2011) Global Business Services provides consulting and system integration which bring value to the customer by improving strategy and transformation, application innovation services, enterprise application, and business analytics and optimization. Global Business Services also includes application management services which provide assistance in application development, management, maintenance and support for software and custom and legacy applications. International Business Machines Corporation 2011) IBM faces major competition in the global services segments global technology services and global business services from the broad based competitors Accenture, Computer S ciences Corporation, Fujitsu and Hewlett-Packard Company. IBM also competes with India-based service providers, public accounting firms providing consulting services, and companies that focus on local market and niche service areas. International Business Machines Corporation 2011) IBMs software segment includes the sale of middleware software which enables clients to integrate systems, processes, and applications across a standard software platform. Operating systems are the software engines that run computers. Two thirds of the revenue from software is from annuity based recurring license charges and ongoing subscription and support.One third of the revenue comes from one time charge arrangements where customers pay up front for a license which is typically from one year of subscription and support but they can purchase subscriptions and support after the first year. Software offerings include information management software, trivoli software, lotus software, rational software, se curity systems software and operating systems. This segment is in a highly competitive market and the companies main competitors are CA. Inc. , Microsoft Corporation and Oracle Corporation. International Business Machines Corporation 2011) The IBM systems System Z, Power Systems, and System X range from general purpose and integrated systems designed and optimized for specific business, public, and scientific computing needs and form the foundation for IBM’s integrated offerings. Storage includes data storage products and solutions to help clients retain and manage complex volumes or rapidly growing digital information. They address vitally important issues such as security, compliance, storage optimization, and retention and archiving, availability, etc.Retail store solutions include Point-of Sales and self-service systems and include hardware, software and services. Lastly microelectronics include semiconductor design and manufacturing primarily for use in IBM systems. In s ystems and technology IBM’s major competitors are Cisco, Dell, HP, Oracle, and EMC Corporation. (International Business Machines Corporation 2011) Global Financing facilitates customers acquisition of IBM systems, software and services and includes client financing, commercial financing, and remanufacturing and remarketing.Client financing includes lease and loan financing to end users and internal clients with terms between 1 and 7 years. Internal financing supports long term client service contracts in the Global Services department and Global financing also factors a portion of the company’s accounts receivable. Commercial financing includes short term inventory and accounts receivable financing to dealers and remarketers of IT products. Remanufacturing and Remarketing includes equipment which is returned at the conclusion of a lease contract which is they sold or leased to another client internally or externally.The company competes with Cisco HP and non-captive fi nancing entities of companies like General Electric and banks and financial institutions and in remarketing the company competes with local and regional brokers and original manufacturers. (International Business Machines Corporation 2011) The nature of IBM’s products and the intense competition in all its business segments causes many risks on the audit as a whole and the audit of specific accounts.The overall audit risks because there are many inherent risks associated with intensely competitive environments which can cause products to become obsolete, loss in market share and lowering gross margin, and the inherent risks associated with financing. One particular account that is affected by this is inventory which should be checked for realizable value and possible obsolescence. The software and services that are provided to customers are highly complicated and are bundled together and thus sales and accounts receivable should be checked for proper classification and timing .Global financing poses many risks to IBM because of its exposure to the risk of economic downturns and the tightening of credit spreads and also there is a risk that the clients they provide financing for will not be able to meet contractual obligations and or default on payments. With global financing the auditors must make sure that leasing arrangements are properly accounted for and that the appropriate presentation and disclosures are included in the notes to the financial statements.For leases the audit objectives of classification, accuracy, and realizable value are of particular importance. Major Customers No clients represent more than 10% of the company’s revenue so lack of major customers reduces risk. (International Business Machines Corporation 2011). Having major customers could be risky because losing the major customer could have a large impact on sales; also having major customers could allow those customers to have bargaining power over IBM.IBM while it does not have any major customers it is overly dependent on the geographic region of the Americas for revenue. In 2011 the Americas were the source of 43. 1% of the total geographic revenue. (â€Å"International Business Machines Corporation- Financial and Strategic Analysis Review. â€Å") This over dependence on the Americas could cause substantial business risk due to the economic downturn in the Americas and if conditions were to become adverse and or demand were to decline this could hurt the business. â€Å"International Business Machines Corporation- Financial and Strategic Analysis Review. â€Å") Locations IBM operates in over 170 different countries and one of its major strategies is to expand into emerging markets. IBM’s major markets are Canada, France, Germany, Italy, Japan, the United States, the UK, the Bahamas, Belgium, the Caribbean, Cyprus, Denmark, Finland, Greece, Iceland, Ireland, Israel, Malta, the Netherlands, Norway, Portugal, Spain, Sweden and Switzer land (International Business Machines Corporation 2011).The emerging markets that IBM is focusing on which have higher market growth rates than the global average are countries in Southeast Asia, Eastern Europe, the Middle East and Latin America (International Business Machines Corporation 2011). This causes substantial risk for the company because each country is going to have different laws to which IBM must comply with or face possible law suits.The fluctuations in different currencies can cause a lot of risk to IBM because the value of revenue in certain countries could decrease substantially and they also must value the different currencies in US dollars for the financial statements. Other risks for companies that operate internationally include acquiring export licenses, laws and business practices that favor local businesses, trade restrictions, duties and tariffs, and the risk of not accounting for taxes correctly in the multiple jurisdictions that the company operates in.IB M operating in over 170 companies and is looking to expand into other emerging markets causes a substantial amount of risk for the company and should be considered when conducting the audit. First it affects the audit as a whole because the inherent risk and therefore risk of material misstatement is increased because of IBM’s international operations. Specific accounts and or assertions that are affected by this risk would be sales. Sales should be checked to make sure that the values are accurate and that the appropriate currency conversion rates were applied when changing foreign currency to US dollars.Another balance related audit objective would be accuracy and classification related to taxes payable and tax expense because tax laws are highly complex and the company would owe taxes to multiple local, state, and federal jurisdictions due to global operations. Another audit objective that should be checked would be that all necessary disclosures regarding law suits and ot her contingencies related to foreign operations are present in the notes to the financial statements and thus satisfy the completeness audit objective and the accuracy and valuation objectives in the presentation and disclosure-related udit objectives. Impact of Technology on Business Operations IBM is part of the technology sector and thus the impact of technology on the business operations of IBM is huge. In IBM’s business of being a computer and software manufacturer and service provider the pace of technological change is extremely rapid. IBM in order to be competitive with other major companies in the industry must be a leader in innovation and constantly be developing new products and capabilities to be competitive with other companies also trying to provide similar services in the same sector.Due to the rapid change in technology IBM must invest heavily in research and development which it does with annual expenses of approximately 6. 258 billion dollars, 5. 99 billion was for scientific research and application of scientific advances for new and improved products, their uses, and also services and their applications and the other 267 million was for product engineering (International Business Machines Corporation 2011).This investment in research and development is necessary but still has inherent risks because if competitors are able to come out with similar products to IBM’s products before IBM then they could lose a substantial amount of market share also the research and development process itself is a long and risky process because it may or may not result in a marketable product with sufficient consumer demand. Rapid technological change also has the inherent risks of causing IBM’s inventory to become out- dated and thus obsolete.Rapid technological change also affects the business operations of IBM because IBM will have a lot of intellectual property as a part of their assets on the balance sheet. In 2011 alone IBM was award ed 6,180 patents and in the last 19 years IBM has been awarded 47,000 patents and been the leader in receiving patents (â€Å"International Business Machines Corporation- Financial and Strategic Analysis Review. â€Å") There is a risk that IBM won’t value these intangible items properly and thus cause misstatements in the financial statements.Rapid technological change has the overall effect on the audit of increasing the amount of inherent risk in such accounts as intangible assets, and also research and development expenses. Specifically the audit of intangible assets will be affected because the auditor must pay specific attention to the valuation and allocation assertion and make sure that the intangible assets are valued at the correct amounts and that any necessary adjustments to the value of the intangible assets is made. Another balance related objective they should make sure the client satisfies is rights and obligations.The auditor should make sure that the clien t has the right to this intellectual property which can be satisfied by checking the related patents. The other account that must receive special attention is research and development. The auditor needs to make sure that all research and development is being expensed and is not capitalized and thus the classification of transactions related to research and development are properly classified as expenses and that related product expenses are only capitalized once the product has hit the market. Special Accounting PracticesIBM is affected by special accounting principles for revenue recognition. Revenue recognition for software vendors can be extremely complex and one of the complexities for software vendors is for multiple-deliverable revenue arrangements. Software vendors are able to account for individual products and services that are bundled together as a package separately if they can make a best estimate of each items fair value selling price. Companies must come up with vendor specific objective evidence (VSOE) of the fair value in order to account for them separately.If VSOE exists for undelivered items but not for delivered items the company uses the residual method but if VSOE of fair value doesn’t exist for the undelivered items then revenue cannot be recognized until VSOE of fair value does exist or all items have been delivered. Other issues that complicate revenue recognition for software companies such as IBM are whether or not new products are more than minimally different from existing products or whether it is just an upgrade.If an arrangement does include the right to an upgrade it must be determined whether the right is specified and whether VSOE of fair value can be determined or if it is unspecified and just included in PCS. Lastly if the company makes price concessions those must be analyzed to see whether they are stand-alone concessions or whether they expect to make similar price concessions to other customers because this could have a large effect on the realizable value of accounts receivable and the appropriate numbers to report in sales. (Triplett & Miller)The complexity of multiple deliverable revenue arrangements has a large impact on the audit. First and foremost the complexity of these accounting rules causes a large increase in the inherent risk. Specific audit objectives which are affected by these risks would be the realizable value of accounts receivable, the accuracy of sales, and the timing of revenue recognition in the sales cycle. If the company commonly makes price concessions then the realizable value of accounts receivable could be over-valued unless the company makes reasonable estimates of this and recognizes it with the original sales.Sales could be over or under valued if the VSOE of fair value is not accurate and the auditors must check that there is substantial evidence to support the prices the vendors come up with. Lastly the timing of sales could be greatly affected by these acc ounting principles because if VSOE of fair value cannot be established then revenue recognition must be delayed until all items in the arrangement are delivered. Works Cited â€Å"Diversified Computer Systems Overview: Industry Center – Yahoo!Finance. †Ã‚  Diversified Computer Systems Overview: Industry Center – Yahoo! Finance. Yahoo, 2012. Web. 30 Nov. 2012. . â€Å"FASB Accounting Standards Update Number 2011-02. †Ã‚  FASB. org. Financial Accounting Standards Board of the Financial Accounting Foundation, Apr. 2011. Web. 30 Nov. 2012. . â€Å"IBM: Summary for International Business Machines- Yahoo! Finance. †Ã‚  Yahoo! Finance. Yahoo, 2012. Web. 0 Nov. 2012. http://finance. yahoo. com/q? s=IBM â€Å"International Business Machines Corp. †Ã‚  International Business Machines Corp. : NYSE:IBM Quotes & News – Google Finance. Google, 2012. Web. 30 Nov. 2012. . International Business Machines Corporation (2011). 10-K Annual Report 2011. Re trieved from SEC EDGAR website  http://www. sec. gov/edgar. shtml â€Å"International Business Machines Corporation- Financial and Strategic Analysis Review. † Global