The Law of Demand

Introduction There are two types of social equilibrium that is dynamic and static equilibriums, abnormal and normal equilibriums the first is active, the second is passive.the first is unstable and the second is stable Equilibrium is the spot where consumers and producers exchange services and goods at a quantity and cost that signify a balance among the consumer’s desire to forfeit less cash and the producer’s desire to get more cash.Advertising We will write a custom essay sample on The Law of Demand specifically for you for only $16.05 $11/page Learn More It is the point at which everybody prepared to pay the price of the market gets their demand satisfied, while anybody prepared to manufacture at the price of the market gets a buyer for the service or good. [Roger 2001] A market can be defined as an area where services and goods are exchanged. One can imagine a bustling lane complete of sellers and buyers or a stock trade full of citize ns selling and buying stocks. These are touchable manifestations of a market. Economics can be defined as a communal discipline which checks the distribution, consumption and production of services and goods. Microeconomics can be defined as a tool that examines the performance of fundamental elements in the financial system including personalized agents or markets, that is, firms and consumers, sellers and buyers. [William and Alain 2006] Macroeconomics can be defined as a tool that addresses problems affecting the whole economy. That is, inflation, economic growth, unemployment and fiscal and monetary policy. Demand is a connection amidst two variables quantity and price demanded, with all other additional factors that may influence demand held steady. [Esther1998] How the Sonnenschein-Mantel-Debreu Theorem in General Equilibrium affect the law of demand and the law of demand The demand law In money matters can be defined as a microeconomic commandment which states; ‘As the price of a service or good increases, consumer demand for the service or good will decrease and as the price of a service or good decreases, consumer demand for service or good will increase. When all the other factors remain unchanged. [Irvin 2011] Below is a graph illustrating the law of demand? Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Source: (Rick Kash 2002) From the graph it can be seen clearly that when the price increase from P3 to P2 the demand falls from Q2 to Q3 consequently when the price decreases from P1 to P2, the demand increases from Q2 TO Q1. According to Investopedia, law of demand shows the consequences that price variations have on consumer actions. For example, a consumer will purchase more burgers if the price of the burgers falls. Relatively a consumer will purchase less burgers if the burgers price goes up or increases. That is the greater the amount sold, th e smaller the price should be in order for it to get purchasers or buyers. For instance, if the price of milk goes up automatically the demand of milk goes down [Rick Kash 2002] .The Sonnenschein–Mantel–Debreu Theorem is named after four economists who are Gerard Debreu, Rolf Ricardo Mantel, and Hugo Freund Sonnenschein. As a result of general economics. It states; ‘The surplus demand function for an economy is not limited by the usual reasonableness restrictions on individual demands in the economy’.For example, if in a country’s economy the price of a commodity like petroleum goes high the demand for this particular commodity is not affected by restrictions of the individual demand this is because the customers will still use the commodity. [Lain and Henry 1998] On the other side if the price of petroleum goes down the demand for the same commodity is not affected by restrictions of the individual demand for the same commodity because the amount r egularly consumed remains. Thus microeconomics reasonableness assumptions do not have the same macroeconomics results. The implications of the theorem are mostly manifested in the interdependent markets. The economic equilibrium cannot be exceptional or stable. According to the theorem, the Walrasian aggregate excess demand function inherits only certain properties of individual excess functions. Policy-makers did not favor forms of monetarism and supply-side economics, the New Classical economics is the dominant neoclassical theory.Advertising We will write a custom essay sample on The Law of Demand specifically for you for only $16.05 $11/page Learn More The theory says that the existing expectations in the financial system are correspondent to what the prospect state of the financial system will be. This contradicts the thought that administration policy influences the decisions of public in the financial system [David 2006] According to Investopedia the thought is that rational expectations of the company in a financial system will incompletely have an effect on what happens to the financial system in the prospect. Because he believes that the price will rise in the future. According to Sonnenschein Mantel Debreu Theorem (Sonnenschein 1973, Mantel 1974, Debreu 1974) they show that under assumptions under which general equilibrium theory has been developed, there are no limitations on the behavior of data aggregates either within a cross section or intertemporally. General equilibrium theory is an overarching organizing framework for economics. Without any limitations on the distribution of individual qualities, the Sonnenschein-Mantel-Debreu Theorem implies that general equilibrium theory imposes only extremely limited restrictions on combined data. Interactions methods bring the possibility that common types of combined behavior come out from widely changeable collections of individual’s qualities. Many comprehensive p henomena, externalities or other types of market short comings naturally exist which do not lie under the purview of general equilibrium theory [Bryant 2010]. General Equilibrium theory plays several roles in monetarism theory, According to the monetarist the money supply function is where the money stock comes from given the money stock, the demand for money, would settle on the speed of distribution. [James 1969]. The monetarists take the money stock to be an exogenous variable resolute independently in the money supply function; the rise in the monetary content influence the increase in money stock, that is, bank treasury and money in vigorous movement or in the money multiplier while in the theory by Keysian money is taken to be an induced unpredictable or a lively or sovereign variable. [Roger 1999]Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Therefore, according to this the returns increases, there would be a rise in demand for money thus the money seems to be formed from the variation of income. The monetary influence has full power on money supply through the stored requirement, interest pace and credit policy. A chain reaction would result from a change in the money of substitutions causing rates, interests, prices, employment, and production to change; income change results from monetary change. [Keizo Nagatani 1981]. One implied suggestion of monetarism is â€Å"lender of last resort† which is a Federal Reserve function, that is, a savior of institutions and as a stabilizer of monetary markets through the refinancing of money market entities and banks as a provider of reserves. Monetarism drawn in, first a theory cycle, and then as a result of these a suggestion for the behavior of financial policy. Specifically, price increases was alleged to be reasonable according to the rate of increase of the cycle, and the money supply, or more accurately it is revolving points according to the changes [Laidler 2004, pg 395]. In this increase rate as an conceptual mode the demand for money was a difficulty reasonably agreeable realistic to price theory , as an practical subject it seemed to be a stable function finely described by a small number of parameters [Friedman 1959]. Laidler different from Friedman who described money as a long lasting consumer he looked at it as a ‘buffer stock’ also different from the approach adopted by Friedman and Keynesian, the Walrasian equilibrium, he also embraced disequilibrium. Manchester monetarism, Laidler, had in reality never assumed the Keynesian is-lm model that he had used to express it nor market clearing. The ordinary rate of joblessness is the point that would be positioned out by the systems of general equilibrium equations by Walrasian. According to Laidler â€Å"What markets do in our theories, money does it in the world [Sylee 1990] . General Equilibrium Theory views the properties and process of liberated market economies. The ground is a response to a sequence of questions at first written by an economist by the name Leon Walras regarding the process of markets. Frank Hahn stated it in the subsequent way: ‘Does consistency come from the search of personal importance through a structure of interrelated deregulated markets, without chaos, and how is it attained? [Friedman 1968, Pg 8] Role played by General Equilibrium Theory in Monetarism and Rational Expectations Theories and the light shed on Rational Expectations by the said Theorem The role played by general equilibrium theory plays several roles in the rational expectations theory, a predominantly low value for shares in a corporation may indicate to an ignorant agent that better knowledgeable agents are not selling the stock or buying the stock. The view of rational expectation equilibrium is commonly acknowledged extension of the general equilibriu m to economies with unevenly knowledgeable agents. In rational expectations, representation agents maximize expected utility with respect to an updated probability distribution that combines their initial information with the additional information conveyed by the prices, but not with respect to an exogenously given probability distribution [Laidler and David 1984]. General equilibrium theory’s outlook is that wages and prices are either very sluggish in responding to change or rigid in overall demand and hence fail to complete their customary market payment functions. In the Keynesian analysis, in production and employment increases or decreases in overall demand in the short run such as occur in a business cycle expansion or contraction are reflected mainly in changes in the real economy, while proponents of the rational expectations equilibrium theory retain that, balance by adjustments in prices and wages is given by supply and demand even at the level of the overall econ omy are constantly. [Peter 2009] Employees and businessmen even if rational regarding the markets where they themselves operate are uninformed about all additional markets and accordingly prone to make mistakes on how much labor to supply or produce in response to a variation in demand.making these mistakes and then making a correction give growth to cyclical engagements. [Roger 1999] Reduced forms of models are required by the general equilibrium theory when the analysis of equilibria are being done ,without or with rational expectation requirement for the absolute requirement of markets, agents , e.t.c, that is, as it is required by general equilibrium theory.[Bryant 2010] According to the general equilibrium theory when markets are complete, and when agents are risk averse then they are tough on changes in fragile modeling options concerning the prior choice of the uncertainty to be included in to model. The objection of insurance then depends on the authoritative outcome of comp leteness insisted by the in effective theorem. Full insurance restores the efficiency of the market equilibria dynamic, possibly generated by arbitrary beliefs, in the presence of extrinsic noise. [Peter 1986] General equilibrium model insists on the hypothesis that agents expect future prices rationally. In general, equilibrium form, rational expectation hypothesis is common knowledge among the agents of the economy, where the competitive rational expectations mechanism functions smoothly. Agents with full expectations, make use of all the information. In general equilibrium theory assumptions are made that the economic representation and also agents that rationally there was common information to all agents and were to fully exploit this knowledge. This assumption was to explain the model [Emilio 2003]. General equilibrium theory under certainty is able to show that agent’s choices are compatible in a perfectly competitive market when they pursue their self-interest differe nt from the certainty environment, without this assumption. In a dangerous surrounding, the rational expectations hypothesis it is important to understand the agent’s actions and also the rational expectations equilibrium. The rational expectations theory is required to show some parameters anticipated on the up coming prices taken by the agent according to his behavior. [Ben 1998] Without this assumption or related one it would be difficult determine the relevance in a perfectly competitive market, the agent’s decisions in accordance to the rational expectations theory. The economy do not waste information and expectation are determined by the structure of the whole system. [Robert and Thomas 1988.] Expectations of financial variables would be subject to mistakes, without being for recognized for sometime as a significant portion of most justifications for changes in the point of business actions expectations of the company, or generally, the individual probability ci rculation of result have a tendency of been distributed, for the similar information determine the forecast of the hypothesis or the objective possibility of circulation of results. [Michael 1992] According to the theory, information is limited, and is not wasted by the economic system. The means by which expectations are created depends particularly on the organization of the appropriate structure describing the financial system a community forecast does not have any significant consequence on the function of the economic arrangement unless it is in relevant to the inside information.[Rodney and Michael 1982]. General equilibrium theory has shed light on the rational expectation theory by the several ways, for instance, People consider rational expectations, to keep the economy at equilibrium. More convectional outcome relating to the potential responsibility and extent of state economic involvement in large-scale policy were re-establish after the rational expectations were given in combination with the hypothesis instead of those of faultlessly working markets that had at all times been the easy perception of the Keynesian perspective. [Davidson 2002] It helps in shedding light on whether or not the financial system is able to convey to any type of harmonized equilibrium at all. The financial system produces a some insight on how large-scale policy operates and specifically regarding the function it plays in destabilizing or stabilizing the financial system, bringing it nearer to or taking it further away from a rational expectation equilibrium fully employed.[Hyman 2008] Rational expectation is sensible only if the populace is able to learn macroeconomics associations from the experience of staying in the financial system and the traditional consistency theorem in statistical assumption do not signify that these connections are actuality learnable for the reason that they are self referential in the nature of macroeconomic study. That is, statistical hypot hesis assures that, under relatively general circumstances people are supposed to be able to consistently estimate connections from observing an extended enough sequence of data brought about by those relationships [Bryant 2010]. In macroeconomics the connections come about, when people change their expectation of price increase due to recent experience and hence affecting the actual rate of inflation. [Frydman and Phelps 1983].It also helps understand whether or not the effort to find out about a system whose properties meet the rational expectations equilibrium is possible. Light is also shed on the time varying temperament of the rational equilibrium theory within general equilibrium stochastic form [Sargent 1993]. In conclusion, all the theories, that is, the general equilibrium theory, rational expectation theory, and the monetarist theory are all connected or related. Rational expectation theory puts together a variation of the expectation hypothesis with a monetary rule view and the general equilibrium hypothesis view. [Esther 1998] References List Bryant, W. D., 2010. General equilibrium theory and evidence. Hackensack N. J. world scientist Publishers. Singapore, Singapore. David, C. C., 2006. Post Walrasian macroeconomics, beyond the dynamic stochastic general equilibrium model. Cambridge University, Cambridge. Davidson, P., 2002. Financial Markets, Money, and the Real World. Edward Elgar, Cheltenham. Emilio, B., 2003. Financial markets theory, Equilibrium, efficiency and information. Springer, London. Esther, M. S., 1998. The evolving rationality of rational expectations: an assessment of Thomas Sergeant’s achievements. Cambridge university press, Cambridge. Esther, M. S., 1998.Changing perceptions of economic policy: essays in honor of the seventieth birthday of Alec Cairncross. Malden publishers. London. Pg 162 Hyman, P. M., 2008.Stabilizing an unstable economy. McGraw-Hill Publishers, New York. Irvin, B. T., 2011.Macroeconomics for today. S outhwestern publishers. Mason, Ohion. James, T., 1969. ‘A general equilibrium approach to monetary theory’. Journal of Money, Credit and Banking, Vol.1, pg 15-29. Keizo, N., 1981, Macroeconomic dynamics. Cambridge University press. Cambridge, UK. Laidler and David, E. W., 1984. ‘Misconceptions about the real bills doctrine a comment on sergeant and Wallace ‘, Journal of Political Economy. Pg. 149-155. Lain Begg and S. G. B. Henry, 1998. Applied economics and Public Policy. University of Cambridge, Cambridge. Pg 63 Marc, R.T., 1984. An institutionalist guide to economics and public policy. Armonk, N.Y Publishers, Sharpe. Michael, T. Belongia, 1992.The business cycle: theory and evidence: proceedings of the Sixteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis. Kluwer Acad. Publ., Boston. Pg 112 Peter Flaschel, 2009. The Macro dynamics of capitalism elements for a synthesis of Marx, Keynes and Schumpeter. Heidelberg Springer, Ber lin. Pg 14 Peter Wallace Preston, 1986. Making sense of development: An introduction to classical and contemporary theories of development and their application to Southeast Asia. Routledge and Kegan publishers, New York, London. Pg 226 Robert, E. L. and Thomas, J.S., 1988. Rational expectation and econometric practice. University of Minnesota press, Minneapolis. Roger, G., 2001. Sunspot multiplicity and economic fluctuations. MIT Press, Cambridge, UK. Roger, E. A., 1999. The macroeconomics of self-fulfilling prophecies. MIT Press. Cambridge, UK. Sylee, 1990. The monetary and banking development of Singapore and Malaysia. Singapore University press, Singapore. William O. W. and Alain T., 2006. The Blackwell dictionary of modern social thought. Malden Publishers. Oxford, London. This essay on The Law of Demand was written and submitted by user Hana Ford to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

3S271 CDC Essay Example

3S271 CDC Essay Example 3S271 CDC Paper 3S271 CDC Paper What three parts of the work center mission do you define during the anlaysis phase? Purpose, Products, and Customers What type of tasks must a needs assessment include? Daily routine, infrequent tasks, contingency, special work requirements, and additional duties Dependig on their availability and suitability, what documents may you use for identifying tasks in a specific work center Manning documents, training standards, mission statements, staff assistant visit reports, directives and past production reports What manpower documents identify AFSCs assigned to the work center? Unit Manning Document (UMD) and Unit Personnel Manpower Roster (UPMR) What Air Force manual identifies generic duties for each AFSC? AFMAN 36-2108, Airmen Classification What training documents can you research to identify specific tasks for the work center? Specialty Training Standard (STS), Career Field Education and Training Plan (CFETP), and Air Force Job Qualification Standard (AFJQS) List the two factors needed to qualify as a subject matter expert? Field Expertise and Recent Job Experience List the task you have to complete to prepare for an interview. Research, develop questions, set up the interview, prepare the room When conductig an interview, what is the basic goal of your questions? To gain information from the experts What is the term used to describe a person with in-depth work center knowledge? Subject Matter Expert (SME) When conducting the interview, why do you provide the SME with your phone number? In case the SME remembers other information later What can occur if the respondents are confused after reading the questionnaire instructions? They may discard the questionnaire What are the two types of questions that can be used on a questionnaire? Selection and Supply type When you develop an MTL, what do you list on it? All tasks done in a work center List the three types of training standards that you can use to develop an MTL. CFETP, AFJQS, and AF Form 797 What are the three characteristics of a task? Observable, measurable, must have a definite beginning and end When preparing a local training standard, how do you make sure the task is identified? By giving the task a descriptive title List the four levels you use to resolve a lack of training capability. Work center, unit education and training, base education and training, and MAJCOM career field manager level If a lack of training capability cannot be resolved at the base level, how do you forward this problem to MAJCOM? By using an AF Form 2096, Classification/ On the Job Training Action What training status code must you place a trainee in if you cannot resolve the lack of training capability at the base level? P What is an individuals training folder reviewed to ensure? To make sure applicable training standards are included On whom are initial qualification evaluations normally conducted? Recent formal school graduates and reassigned personnel List the additional training factors. Identifying personnel gains/losses, planning and scheduling training time, determining need for job rotation, and identifying work center training requirements When defining the work center training requirements, what do you have to do? Take the training requirements for each individual and add these task together. The sum total is all the work center training requirements. Where cana UTM look to confirm that a CDC is available for ordering? AFIADLs ;List of AFSCc with CDCs required; What on-line program allows UTMs to check CDC enrollment data at AFIADL? CDSAR Who determines the CDC volume completion sequence? The supervisor At what point in the CDC enrollment should you request an extension for a trainee? When the trainee enters the tenth month of enrollment CDC expirations beyond 90 days require what level of approval? Group Commander What forms the basis for all required unit training? Work Center Tasks Which usually provides the best information for identifyin work center tasks? Several sources Which document identifies personal information in manpower positions? Unit Personnel Manpower Roster (UPMR) Which publication describes the duties and responsibilities of all Air Force specialty codes (AFSC) in the Air Force? AFMAN 36-2108, Airman Classification The specialty training standard (STS) is part of the Career Field Education and Training Plan (CFETP) Which factor concerning subject matter expert (SME) qualification is based on time in the career field and in a particular job? Field Expertise When preparing for a subject matter expert (SME) interview, your first step is to review the Mission Statements The publication that contains information about organizations and their mission is the Air Force Mission Directives (AFMD) When researching for a subject matter expert (SME)interview, the tasks that are the easiest to identify are the normal day-to-day requirements What directive list mandatory requirements for a specific career field? AFMAN 36-2108, Airman Classification In researching for a subject matter expert (SME) interview, which form identifies the duties required for civilian personnel? AF Form 1378, Civilian Personnel Position Description Questions developed for a subject matter expert (SME) interview should be specific and pertain to the subject When asking questions during a subject matter expert (SME) interview, speak distinctly and clearly When used on a questionnaire, a closed-ended question limits the choice of possible responses Replies to what type of question on a research questionnaire can provide additional information beyond the scope of your question? Open-ended When developing a master task listing (MTL), keep it as simple as possible Which training document can be part of a master task listing (MTL) and shows tasks that are applicable to an entire career field? Career Field Education and Training Plan (CFETP) Which training standard is prepared by the Air Force career field managers (AFCFM) and describes a particular duty position? Air Force Job Qualification Standard (AFJQS) In reviewing tasks for a training standard, when the results of an action on a persons part can be seen, the task is said to be observable The task title is comprised of a verb and an object When a question of training capability arises, what base-level tool is available to determine if there are any local personnel who have retrained out of the Air Force specialty code (AFSC) in question? Military Personnel data system (MilPDS) What training status code (TSC) is used when a training capability problem prevents a trainee from progressing in training? P Who can authorize automation of a specialty training standard (STS)? Air Force career field manager (AFCFM) When conducting an initial evaluation on reassigned personnel, match the individuals qualifications to the work center requirements Training needs of an individual are called individual training requirements What do task objectives help you do? meet each training program objective List the three basic parts of a task objective. Condition, Performance/Behavior, and Standard What are the two basic ways of measuring a persons knowledge of a subject? Written and oral tests List the selection-type questions that you can use on a written test. Multiple choice, matching, and true false What should the questions used for an oral test require the student to do? Explain why he or she is performing certain functions What are you looking for when you review the test and questions? To see if questions are valid, reliable, comprehensive, objective, and discriminatory in nature. On what is a performance test based? Directly on what the individual is required to perform What are the three basic parts of a performance test? Objective, references/materials and Instructions What are the four common rating errors on which you need to train evaluators? Standard, Logic, Central Tendency, and Halo Long-term objectives are most often comprised of two or more short-term goals called task objectives What element of an objective tells the trainee the level of perfomance that must be met? Standard What are two-types of test items? Selection or supply type Which type of test questions can you use the same way as you do a multiple choice type? Matching When a test measures what it is suppose to measure, then the test is Valid If a test shows who knows and does not know the material, then the test is differentiating The references or materials used by a trainee during the performance test are those used by the trainee while learning the objective When developing a checklist for a performance test, include those items required for complete performance Which common rating error occurs when an evaluator sets how well the task is done according to his or her own ability to perform the task, which results in a high passing point? Standard List the three ways to prioritize tasks. Job Performance, Psychological, and Logical When can actual task performance begin once you set up a trainees training program? After the trainee acquires the task performance knowledge List the methods you can use to present information to the trainee or trainees? Lecture, coach/pupil, demonstration/performance, computer assisted, and qualification training packages List the four phases of the D/P method. Explanation, Demonstration, Performance, and Evaluation What is one of the complaints about computer-assisted instruction? That most computer-assisted lessons are nothing but page turners, and you can gett the same information from an AFI. Who normally develops a QTP? AFCFM What are the resources you would use when doing research for completing a task breakdown? Yourself, books and other experts. What must you identify when developing and documenting a task breakdown? Subtasks, procedural skills, and supporting knowledge Once you feel you have finished the task breakdown, what secific things do you look for when you review it to make sure it isa good product? Completeness, accuracy, and required equipment List the three major parts of a lesson plan Introduction, development or body and conclusion List the four basic parts of the introduction Attention, motivation, overview and transition On what document is the body of your lesson plan based? Your task breakdown List the three parts of a conclusion Summary, Remotivation, and Closure There are many types of teaching aids available; what should you consider before you select the ones that you will use? Those that are easiest to use, most inexpensive to develop and maintain, but that add realism to the learning process List at least six types of teaching aids. Any six of the following: equipment, printed matter, chalkboards, whiteboards, flat pictures, mockups, trainers, simulators, transparencies, television, and computers List the three steps you use to schedule training Prepare tentative schedule, coordinate, and assign trainees to a training session roster What is the first thing you do when coordinating the training schedule? Determine how many sessions are offered and the times that they are held What do you provide to each affected supervisor after you schedule trainees for training? A copy of the training roster or a training notification letter

10 Interesting Facts About Gold

10 Interesting Facts About Gold There are many interesting facts about the element gold, which is listed on the periodic table as Au. This is the only truly yellow metal on Earth, and theres a lot more to learn about gold. Gold Facts Gold is the only metal that is yellow or golden. Other metals may develop a yellowish color, but only after they have oxidized or reacted with other chemicals.Nearly all of the gold on Earth came from meteorites that bombarded the planet over 200 million years after it formed.The element symbol for gold is Au. The symbol comes from the old Latin name for gold, aurum, which means shining dawn or glow of sunrise. The word gold comes from the Germanic languages, originating from the Proto-Germanic gulà ¾ and Proto-Indo-European ghel, meaning yellow/green. The pure element has been known since ancient times.Gold is extremely ductile. A single ounce of gold (about 28 grams) can be stretched into a gold thread 5 miles (8 kilometers) long. Gold threads can even be used as embroidery thread.Malleability is a measure of how easily a material can be hammered into thin sheets. Gold is the most malleable element. A single ounce of gold can be beaten out into a sheet that is 300 square feet. A s heet of gold can be made thin enough to be transparent. Very thin sheets of gold may appear greenish blue because gold strongly reflects red and yellow. Although gold is a heavy, dense metal, it is generally considered non-toxic. Gold metal flakes may be eaten in foods or drinks.Pure elemental gold is 24 karat, while 18 karat gold is 75 percent pure gold, 14 karat gold is 58.5 percent pure gold, and 10 karat gold is 41.7 percent pure gold. The remaining portion of the metal usually used in gold jewelry and items is silver, but items may also consist of other metals or a combination of metals, such as platinum, copper, palladium, zinc, nickel, iron, and cadmium.Gold is a noble metal. It is relatively unreactive and resists degradation by air, moisture, or acidic conditions. While acids dissolve most metals, a special mixture of acids called aqua regia is used to dissolve gold.Gold has many uses aside from its monetary and symbolic value. Among other applications, it is used in electronics, electrical wiring, dentistry, electronics, medicine, radiation shielding, and to color glass.High purity metallic gold is odorless and tasteless. T his makes sense since the metal is unreactive. Metal ions are what confers flavor and odor to metallic elements and compounds.

Research Paper Example | Topics and Well Written Essays - 1000 words - 2

Research Paper Example Moreover, the article elaborates on the several facets of evolution. This includes the notion that all living species share a common ancestry. Consequently, the theory states that there exists a relation among the entire world’s species. The second facet pertains to the process of natural selection that drives evolution. Evidently, the natural selection process is also known as the survival of the fittest. Thus, the author offers an explanation of survival of the fittest theory or the natural selection process. Evidently, the theory was formulated by Darwin who believed that all species struggled to fight for limited resources. However, Darwin theorized that each individual species possessed a difference in gene superiority that exhibited greater survival chances. "What is Evolution?"Â  Science – AllAboutScience.org. allaboutscience.org, n.d. Web. 27 Nov. 2012. . The article begins by delving into the definition of evolution. To this end, it defines evolution as a syst ematic process whereby an organism undergoes change into a more complex and enhanced form. Moreover, the article acknowledges that the evolution theory has been used to explain life on earth. In addition, the article elaborates on the various components of evolution. ... In reference to micro evolution, the article stipulates that there are variations that occur within a species. For example, micro evolution is used to explain how wolves, foxes, dogs, coyotes, jackals and dingoes evolved from a parent pair of dogs. Incidentally, the variations occur in a downward manner and are limited by genetic codes. This means that species such as dogs do not develop new limbs such as wings and change to flying. To this end, there is neither loss in genetic information nor any further addition. On the other hand, macro evolution relates to the important or greater changes in the primary functions by organisms. Moreover, macro evolution involves change from a particular kind of animal or plant into another. In addition, it occurs after several genetic mutations as opposed to during the life of a single organism. Thus, macro evolution attempts to offer an explanation of how the millions of different species came into existence. Kim, Seongcheol, Pudur Jagadeeswaran, Vrinda Kulkarni, and Maira Carrillo. "PLOS ONE: Evolution of Primary Hemostasis in Early Vertebrates."Â  PLOS ONE: Accelerating the Publication of Peer-Reviewed Science. PLoS ONE, 1 Jan. 2009. Web. 27 Nov. 2012. http://www.plosone.org/article/info%3Adoi%2F10.1371%2Fjournal.pone.0008403. The primary research article delves into the evolution of primary hemostasis in early vertebrates. To this end, the authors define hemostasis as a defensive system that protects an organism by stopping bleeding when an injury occurs. Evidently, the researchers discovered that the main hemostatic factors in mammals were present in the early vertebrates. Moreover, they acknowledged that the exposure of the vascularised

Research paper Essay Example | Topics and Well Written Essays - 750 words - 2

Research paper - Essay Example By definition, money is referred to as anything of value that can be used as a medium of exchange (Weatherford, 2009). This is to say that money is that what is used to pay for goods and/or services. This can also take the form of repaying debts at an individual, corporate, or government level. The history of money is highly built on the need to establish a streamlined exchange medium, thus the observed shift from barter trade to the development of contemporary currencies. The history of money makes vital reference to barter trade and barter economies. In many historical barter economies, goods and services were exchanged for other goods and services (Walthall, 2006). However, this form of trade had operational challenges due to the fact that transacting parties had to match their needs or wants in order to trade. Such economies lacked a central exchange medium, but there transactions at the time would fundamentally shape the history of money. At the height of barter trade, the emerg ence of money started being realized. The introduction of shells, stones, beads, and fur as money was observed (Walthall, 2006). The acknowledgement of these things as money revolutionized exchange transactions within and across communities. Business and commerce emerged for people would accumulate the now acknowledged type of money. This followed difficulties in barter trade to have for example a farmer exchange his/her produce with a blacksmith. The introduction of forms of money now allowed traders and people in general to obtain goods and services without necessary having to engage in barter trade. Development of money along its rich history eventually saw the introduction of coin money. Precious metals became the central focus as far as development of money was concerned. Gold, silver, and bronze among other metals were shaped into coins that were easy to carry and transact with. From around 1000 B.C onwards, the use of coin money increased and many societies quickly welcomed t his new development (Del Mar, 2004). In the 11th century, paper money came into the picture and was produced for use in China (Del Mar, 2004). This marked the extensive spread of money within and across all continents. Eventually, bank notes and coins were adopted all over the world, thus becoming the central exchange medium for domestic and international exchanges. In the United States, the use of paper bills dubbed â€Å"greenbacks† was actualized in the year 1861 (Weatherford, 2009). The emergence and development of money was aligned with the fall of civilization around the world. Asia, Europe, and America were the leading factors of civilization. When it came to the development and use of money, they as well led the course. Civilization subject to the money factor had its positive and negative effects. Money essentially made different civilizations realize that wealth could be stored in form of money. Wealth accumulation took its toll, with many civilizations seeking to d ominate this course. Before long, money would be a differential factor in many societies and countries at large. Notably, money contributed and still contributes in enhancing civilization of societies. Although money has critically divided rich and poor civilizations, it has made exchange transactions easy, efficient, and effective. Over and above this, the shift from barter economies to contemporary currency-driven economies has resulted in enormous currency issues. Different economies want to maintain independent

Nervous System Research Paper Essay Example for Free

Nervous System Research Paper Essay As a result of the differences in charges, an electro-chemical difference of about -70 millivolts occurs. The sodium-potassium pump, a system which removes sodium ions from inside the cell and draws potassium ions back in, maintains the electrical balance of the resting cell. Since the cell has to do work to maintain the ion concentration, ATP molecules are used to provide the necessary energy. Once a nerve impulse is generated, the permeability of the cell membrane changes, sodium ions flow into, and potassium ions flow out of, the cell. The flow of ions causes a reversal in charges, with a positive charge now occurring on the interior of the cell and a negative charge on the exterior. The cell is said to be depolarized, resulting in an action potential causing the nerve impulse to move along the axon. As depolarization of the membrane proceeds along the nerve, a series of reactions start with the opening and closing of ion gates, which allow the potassium ions to flow back into the cell and sodium ions to move out of the cell. The nerve becomes polarized again since the charges are restored. Until a nerve becomes repolarized it cannot respond to a new stimulus; the time for recovery is called the refractory period and takes about 0. 0004 of a second. The more intense the stimulus, the more frequent the firing of the neuron. When the impulse reaches the end of the axon, it causes the release of chemicals from small vesicles called neurotransmitters which diffuse across the synaptic gap, the small space between the axon and receptors in the dendrites. There is no physical contact between axons and dendrites (except in electrical transmission, usually found in invertebrates) which takes place through gap junctions. The type of response by the receiving cell may be excitatory or inhibitory depending upon a number of factors including the type of neurotransmitters involved. All nerve impulses are the same whether they originate from the ear, heart, or stomach. How the impulse is interpreted is the job of the central nervous system. A blow to the head near the optic center of the brain produces the same results as though the impulse had originated in the eyes. The neurons are the functional units of the nervous system through which coordination and control in organisms is executed. Resources Books BSCS Revision Team. Biological Science: A Molecular Approach. Lexington, MA: D. C. Heath Co. , 1990. Campbell, Neil A. Biology. Menlo Park, CA: Benjamin/Cummings, Publishing Company, 1987. Carey, Joseph, ed. Brain Facts: A Primer on the Brain and the Nervous System. Washington, DC: Society for Neuroscience, 1993. Curtis, Helena, and N. Sue Barnes. Biology. 5th ed. New York: Worth Publishers, 1989. Holtzman, Eric, and Alex B. Novikoff. Cells and Organelles. Philadelphia: Saunders College Publishing, 1984. Kuffler, Stephen W. , and John G. Nicholls. From Neuron to Brain. Sunderland, MA: Sinauer Associates, 1976. Pine, Maya, ed. Seeing, Hearing and Smelling The World. Chevy Chase: Howard Hughes Medical Institute, 1995. Purves, Dale. Body and Brain: A Trophic Theory of Neural Connections. Cambridge: Harvard University Press, 1988. Raven, Peter H. , and George B. Johnson. Biology. 3rd ed. St. Louis: Mosby Year Book, 1992. Towle, Albert. Modern Biology. Austin, TX: Holt, Reinhart, and Winston, 1991. KEY TERMS Action potential —A transient change in the electrical potential across a membrane which results in the generation of a nerve impulse. Axon —The threadlike projection of a neuron that carries an impulse away from the cell body of the neuron. Dendrites —Branched structures of nerve cell bodies which receive impulses from axons and carry them to the nerve cell body. Depolarization —A tendency of a cell membrane when stimulated to allow charged (ionic) chemical particles to enter or leave the cell. This favors the neutralization of excess positive or negative particles within the cell. Ganglion —Cluster of nerve cell bodies. In vertebrates, found outside of the central nervous system and act as relay stations for impulses. In invertebrates, act as a central control. Homeostasis —The internal stability of an organism. Myelin —A multilayered membrane system of a Schwann cell that wraps around an axon. Made up of lipoproteins that act as insulators in speeding up the transmission of nerve impulses. Nerve Bundles of axons in a connective tissue sheath which follow a specific path. Nerve impulse —A transient change in the electro-chemical nature of a neuron. Neuron —Cell specialized to receive and transmit impulses; functional unit of the nervous system. Neurotransmitter —A chemical released at the end of an axon which is picked up by receptors such as dendrites, muscles, or secretory cells. Polarized —Two different charges on either side of a membrane caused by a difference in the distribution of charges; in resting nerve cells maintained by the sodiumpotassium pump. Reflex —A rapid response to a stimulus that involves a sensory and motor neuron and may involve an interneuron. Refractory period —Recovery period for the neuron in which no new impulse can be generated; it cannot respond to a stimulus until it is repolarized. Sodium-potassium pump —A special transport protein in the membrane of cells that moves sodium ions out and potassium ions into the cell against their concentration gradients. Synapse —Junction between cells where the exchange of electrical or chemical information takes place.

Ethics for the 21st Century Essay -- Essays on Ethics

Ethics for the 21st Century Rushworth M. Kidder has done a remarkable thing; he has assembled from all over the globe the answers of people to this question: "If you could help create a global code of ethics, what would be on it?" This act is so remarkable because he has taken the time to gather the opinions of twenty-four individuals from sixteen nations to create a global forum. What strikes me the most about his study is that the interviewees were not heads of state. They were average people viewed by their communities as ethical leaders. Kidder compiled their thoughts into a list of moral standards for the twenty-first century in his essay " Universal Human Values: Finding an Ethical Common Ground." I agree with his list of standards: love, truthfulness, fairness, freedom, unity, tolerance, responsibility and above all respect for life. The first three of these needs, "love, truthfulness and fairness," are basic human values many of us are brought up with. So important are these lessons in childhood that the drive to carry them out is a natural instinct for most adults. L...

Report on Shahjalal Islami Bank Limited Essay

Introduction 1.1 Preface: Generally by the word â€Å"Bank† we can easily understand that the financial institution deals with money. But there are different types of banks like; Central Banks, Commercial Banks, Savings Banks, Investment Banks, Industrial Banks, Co-operative Banks etc. But when we use the term â€Å"Bank† without any prefix, or qualification, it refers to the ‘Commercial banks’. Commercial banks are the primary contributors to the economy of a country. So we can say Commercial bank is a profit-making institution that holds the deposits of individuals & business in checking & savings accounts and then uses these funds to make loans. For these people and the government is very much dependent on these banks as the financial intermediary. As banks are profit -earning concern; they collect deposit at the lowest possible cost and provide loans and advances at higher cost. The differences between two are the profit for the bank. Banking sector is expanding its hand in different financial events every day. At the same time the banking process is becoming faster, easier and the banking arena is becoming wider. As the demand for better service increases day by day, they are coming with different innovative ideas & products. In order to survive in the competitive field of the banking sector, all banking organizations are looking for better service opportunities to provide their fellow clients. As a result, it has become essential for every person to have some idea on the bank and banking procedure. Internship program is essential for every student, especially for the students of Business Administration, which helps them to know the real life situation. For this reason a student takes the internship program at the last stage of the BBA Program, to launch a career with some practical experience. The Banking Companies Ordinance was promulgated on the 7th June 1962. This has been adopted in Bangladesh and is applicable to the banking companies only. Nothing of this ordinance shall apply to a co-operative Securities Act (1912). Shahjalal Islami Bank Limited has a vision and mission to improve the financial sector of Bangladesh i.e. economic condition of Bangladesh by providing effective and innovative banking and financial product in financial market. However, in every economy of the world financial sector is highly regulated sector. Therefore, financial products of every bank are almost same as same law & regulations regulate them. Commercial Banks, as the very name indicates, function primarily as deposit takers and lenders to trade and commerce. But through a historical process, these Banks are now also engaged in long medium and short term industrial lending, agricultural financing including development financing. Commercial Banks are of three types Nationalized, Local Private and Foreign Commercial Banks. 1.2 Background of the study The BBA program (Stamford University Bangladesh) is designed to focus on theoretical and professional development of people open to take up business as a profession as well as service as a career. This internship provides the students to link up their theoretical knowledge into practical fields. This report is prepared for the internship program consisting of a major in depth study of the â€Å"overall activities of Shahjalal Islami Bank in banana branch†. This program enables a student to develop his analytical skill and scholastic aptitude. 1.3 Rational of the study In today’s modern and globalization world, business sector is competitive. Theoretical knowledge is not enough for a business student because there is a gap between theoretical knowledge and practical field. It is more competitive in the financial institution like bank. Now a day’s local banks are playing a key role for economic growth and development of the country. In that case Shahjalal Islami Bank is playing a pioneer role for structural development of the country. This study mainly covered the areas of performance of Shahjalal Islami bank, its services, types of deposits, remittance, loans & advance, recovery system and its growth. 1.4 Objective of the study 1.4.1 General objectives: The General objectives of the study are: ââ€" ¡ To fulfill the requirement for the completion of (BBA) program. ââ€" ¡ The general objective of this report is to fulfill the requirement for the completion of (BBA) program through internship report. ââ€" ¡ To acquire practical experience in different banking services of Shahjalal Islami bank. Understand the Islamic Sharia Based General Banking, Foreign Exchange and Investment Management of Shahjalal Islami Bank. 1.4.2 Specific Objectives: The Specific objectives of the study are: †¢ To make a bridge between the theories and practical procedures of banking day-to-day operations. †¢ To gather knowledge about the transaction of different department of the branch. †¢ To familiar with banking environment, clients, working hours, values, conditions and other things related to bank †¢ To understand present an overview of Shahjalal Islami bank 1.5 Scope of the study An infrastructure of the organization has been detailed, accompanied by a global perspective and look into the future. The scope of this report is limited to the overall description of the company, its services, and its position in the market and its marketing strategy. The scope of the study is limited to organizational setup, functions, and performances for customer satisfaction. The study would focus on the following areas: ââ€" ª General Banking of Shahjalal Islami bank Ltd. ââ€" ª Remittance and clearing section of SJIBL. ââ€" ª Credit operation of Shahjalal Islami bank Ltd. ââ€" ª Foreign Trade of Shahjalal Islami bank Ltd. Each of the above areas would be critically analyzed in order to identify the service quality of the bank. 1.6 Methodology of the study: Different data and information are required to meet the goal of this report. Those data and information were collected from various sources, such as, primary and secondary which is showed below: Data Analysis: For the analysis purpose I have basically undergone some financial analysis and also judged some qualitative factors responsible for the Shahjalal islami bank position in banking sector. To continue the study, I have collected the useful data by two methods: 1) Conceptual approach. 2) Empirical approach. These two data analysis techniques provided independently derived information that could be crosschecked, thus enhancing validity. Sources of collecting data: The information incorporated in this report has been gathered from primary and secondary sources. Apart from this, a review of related circular and office circular as well as face-to-face interview of the executives, officials and clients were carried out. 1.7 Limitation of the study There is a certain boundary to cover this study. It was not possible due to shortage of time to cover each and every activity performed by the bank. So the study has covered only the General banking Activities of Shahjalal Islami bank Limited. Like any other articles and theories, this study is not free from limitations. I have tried my level best to overcome these limitations through extensive study, hard and sincere devotion to the assigned duty. The major limitations are: †¢ I complete my internship in a small town branch, Banani branch. So I don’t get the proper information which I need. †¢ The bank personnel and officials were very busy with their occupational activities. Hence it was little bit difficult for them to help within their high schedule. †¢ Relevant data and document collection were difficult due to the organization confidentiality. Chapter: Two Overall Banking System 2.1 Banking Environment: During 2008, Bangladesh witnessed higher inflation that affected life of common people, labor unrest in garments sector- the highest contributor in export sector affected economic activities and business operations. Higher import cost of commodity prices, price hike in international oil market as well as money and credit growth resulted in higher inflation. As a result, the economy of the country showed every sign of recession. Despite this numerous adversities, closed the balance sheet of the Bank with an enormous per-tax profit of TK. 1216 million with excellent growth rate of 54.44% while the whole financial sector faced a slowdown. This credit worthy achievement has been possible due to our professional smoothness and confidence. 2.2 Global banking: In the 1970s, a number of smaller crashes tied to the policies put in place following the depression, resulted in deregulation and privatization of government-owned enterprises in the 1980s, indicating that governments of industrial countries around the world found private-sector solutions to problems of economic growth and development preferable to state-operated, semi-socialist programs. This spurred a trend that was already prevalent in the business sector, large companies becoming global and dealing with customers, suppliers, manufacturing, and information centers all over the world. Global banking and capital market services proliferated during the 1980s and 1990s as a result of a great increase in demand from companies, governments, and financial institutions, but also because financial market conditions were buoyant and, on the whole, bullish. Interest rates in the United States declined from about 15% for two-year U.S. Treasury notes to about 5% during the 20-year period, and financial assets grew then at a rate approximately twice the rate of the world economy. Such growth rate would have been lower, in the last twenty years, were it not for the profound effects of the internationalization of financial markets especially U.S. Foreign investments, particularly from Japan, who not only provided the funds to corporations in the U.S., but also helped finance the federal government; thus, transforming the U.S. stock market by far into the largest in the world. Nevertheless, in recent years, the dominance of U.S. financial markets has been disappearing and there has been an increasing interest in foreign stocks. The extraordinary growth of foreign financial markets results from both large increases in the pool of savings in foreign countries, such as Japan, and, especially, the deregulation of foreign financial markets, which has enabled them to expand their activities. Thus, American corporations and banks have started seeking investment opportunities abroad, prompting the development in the U.S. of mutual funds specializing in trading in foreign stock markets. Such growing internationalization and opportunity in financial services has entirely changed the competitive landscape, as now many banks have demonstrated a preference for the â€Å"universal banking† model prevalent in Europe. Universal banks are free to engage in all forms of financial services, make investments in client companies, and function as much as possible as a â€Å"one-stop† supplier of both retail and wholesale financial services. Many such possible alignments could be accomplished only by large acquisitions, and there were many of them. By the end of 2000, a year in which a record level of financial services transactions with a market value of $10.5 trillion occurred, the top ten banks commanded a market share of more than 80% and the top five, 55%. Of the top ten banks ranked by market share, seven were large universal-type banks (three American and four European), and the remaining three were large U.S. investment banks who between them accounted for a 33% market share. This growth and opportunity also led to an unexpected outcome: entrance into the market of other financial intermediaries: nonbanks. Large corporate players were beginning to find their way into the financial service community, offering competition to established banks. The main services offered included insurances, pension, mutual, money market and hedge funds, loans and credits and securities. Indeed, by the end of 2001 the market capitalization of the world’s 15 largest financial services providers included four nonbanks. In recent years, the process of financial innovation has advanced enormously increasing the importance and profitability of nonbank finance. Such profitability priory restricted to the nonbanking industry, has prompted the Office of the Comptroller of the Currency (OCC) to encourage banks to explore other financial instruments, diversifying banks’ business as well as improving banking economic health. Hence, as the distinct financial instruments are being explored and adopted by the banking and nonbanking industries, the distinction between different financial institutions is gradually vanishing. 2.3 Overall Banking Sector: Financial sector reforms to strengthen the regulatory and supervisory framework for banks made headway in 2006 although at a slower than expected pace. Overall health of the banking system showed improvement since 2002 as the gross Non-performing Loans (NPL) declined from 28 percent to 14 percent while net NPL (less Provision) reduced to 8 percent from 21 percent. This led significant improvement in the profitability ratios. Although the Private Commercial Banks (PCB) NPL ratio registered a record low of 6 percent, the four Nationalized Commercial Banks (NCB) position are still weak and showed very high NPL at 25 percent. The NCBs have large capital shortfalls with a risk-weighted capital asset ratio of just 0.5 percent (June 2006) as against the required 9 percent. For the PCBs risk-weighted capital asset ratio stood at 10 percent. Bangladesh Bank issued a good number of prudential guidelines during the year 2006 and the first quarter of 2007 which among others relate to (i) Rationalization of prudential norms for loan classification and provisioning, (ii) Policy for rescheduling of loans, (iii) Designing and enforcing an â€Å"integrated credit risk grading manual†, (iv) Credit rating of the banks, and (v) Revisions to the make-up of Tier- 2capital. Besides, recent decision of the Government to corporatize the remaining three NCBs along with the initiative to sale the Rupali Bank are bound to usher in changes in the banking sector competitiveness aspect. Bangladesh Bank has also taken up the task of implementing the Basel II capital accord. Further, the recent enactment of the Micro-credit Regulatory Authority Act (MRAA) for the regulation of the Micro Finance Institutions (MFI) has been a major development in the year 2006. Since 1998 CAMEL rating of banks gradually improved and in 2006 Bangladesh Bank updated this rating model by incorporating the market risk and the new model is known as CAMELS. 2.4 Banking System of Bangladesh The banking system at independence consisted of two branch offices of the former State Bank of Pakistan and seventeen large commercial banks, two of which were controlled by Bangladeshi interests and three by foreigners other than West Pakistanis. There were fourteen smaller commercial banks. Virtually all banking services were concentrated in urban areas. The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. The bank was responsible for regulating currency, controlling credit and monetary policy, and administering exchange control and the official foreign exchange reserves. The Bangladesh government initially nationalized the entire domestic banking system and proceeded to reorganize and rename the various banks. Foreign-owned banks were permitted to continue doing business in Bangladesh. The insurance business was also nationalized and became a source of potential investment fun ds. Cooperative credit systems and postal savings offices handled service to small individual and rural accounts. The new banking system succeeded in establishing reasonably efficient procedures for managing credit and foreign exchange. The primary function of the credit system throughout the 1970s was to finance trade and the public sector, which together absorbed 75 percent of total advances. The transformation of finance priorities has brought with it problems in administration. No sound project-appraisal system was in place to identify viable borrowers and projects. Lending institutions did not have adequate autonomy to choose borrowers and projects and were often instructed by the political authorities. In addition, the incentive system for the banks stressed disbursements rather than recoveries, and the accounting and debt collection systems were inadequate to deal with the problems of loan recovery. It became more common for borrowers to default on loans than to repay them; the lending system was simply disbursing grant assistance to private individuals who qualified for loans more for political than for economic reasons. The rate of recovery on agricultural loans was only 27 percent in FY 1986, and the rate on industrial loans was even worse. As a result of this poor showing, major donors applied pressure to induce the government and banks to take firmer action to strengthen. 2.5 Perspective of Islamic Banking System: Banking plays a pivotal role in the development processes of a country. It helps accelerate the pace of development by securing uninterrupted supply of financial resources to people engaged in numerous economic activities. The tremendous development that the present world experienced in the last few decades was contributed by several factors among which growing institutional supply of loanable funds must have played the pivotal role. The role of banking is comparable to what an artery system does in human body. Banks both commercial and another development financial institution provide short, medium and long -term credits to businessperson and entrepreneurs who usually take the lead in ventures of economic development. Institutional supply of credits has been made possible by a system of financial intermediation organized in a way where conventional banks collect small saving from the public by offering them a fixed rate of interest and advancing the loanable funds out of the deposited money to enterprising clients charging relatively higher rate of interest. The margin between these two rates is bank’s income. Bank provides many other services to the people against service charges as well. Despite the outstanding contribution of conventional banking system (interest-based), several ancient and modern economists are critical about its efficiency level. Some economists consider role of interest in the conventional banking mechanism as a major destabilizing factor that contributes to cyclical fluctuations in the economy. Specifically, the ineffectiveness of interest rate as a stabilization tool during the period of Great depression is a case to note. Thus most of the economists called for urgent reform of the World Economies Order. In response though not exactly to that exigency but for quite a few other reason, a new system of banking known as Profit-Loss-Sharing has emerged in as many as 45 countries of the world. Another study provides a list of 248 Islamic financial institutions that are now in operation in different parts of the world. The second half of the twentieth century witnessed a distinctly separate line of thinking on banking. The thought later on got institutionalized at the end of third quarter and subsequently emerged as a new system of banking called Islamic Banking. At this stage, it is important to note the factors responsible for the emergence of profit-loss-sharing (PLS) system of banking. There are religious as well as economic reasons that have contributed to the emergence of PLS-banking as an alternative to its conventional counterpart. It is the prohibition of ‘riba’ in the Holy Quran that, according to the proponents of the PLS-system, was the source of inspiration for es tablishing Banks in line with Islamic shariah.

Basic Needs Shank’s Old Boss Failed to Meet Essay

According to Maslow’s hierarchy, which basic needs did Shank’s old boss fail to meet? Explain why the needs have not been met. What could be done to meet these missing needs? The basic needs which Shanks old boss failed to meet are as follows: The need for self-actualization â€Å"the desire to become more and more what one is and to become everything that one is capable of becoming. † People who have everything can maximize their potential. They can seek knowledge, peace, esthetic experiences, self-fulfillment, oneness with God, etc. Emily Griffin from Flight 001 stated the ollowing: So it’s not that it’s better than nothing, but they do still recognize the contribution, even if I’m not quite getting it right. This negative statement tells me that the self-actualization is a missing component within this company. She is completing a project Just to get it accepted and not maximizing her potential and her highest level of functioning. Emily s hould be able to move through the needs to the highest level provided they are given an education that promotes growth. Use the Expectancy Theory and/or the Equity Theory of motivation to explain how feeling nderpaid might affect the work of a Flight 001 associate and what a manager can do to increase the employee’s motivation. A Flight 001 associate that feels underpaid may form perceptions of what constitutes a fair ratio (a balance or trade) of inputs and outputs by comparing our own situation with other ‘referents’ (reference points or examples) in the market place as we see it. In practice this helps to explain why people are so strongly affected by the situations (and views and gossip) of colleagues, friends, partners etc. in establishing their own personal sense of fairness or equity in their work situations. People need to feel that there is a fair balance between inputs and outputs. Crucially fairness is measured by comparing one’s own balance or ratio between inputs and outputs, with the ratio enjoyed or endured by relevant (‘referent’) others. If there is not a fair balance employees feel demotivated. Generally the extent of demotivation is proportional to the perceived disparity with other people or inequity, but for some people Just the smallest indication of negative isparity between their situation and other people’s is enough to cause massive disappointment and a feeling of considerable injustice, resulting in demotivation, or worse, open hostility. Some people reduce effort and application and become inwardly disgruntled, or outwardly difficult, recalcitrant or even disruptive. Other people seek to improve the outputs by making claims or demands for more reward, or seeking an alternative Job. A Manager can increase employee motivation with financial rewards – pay, salary, expenses, perks, benefits, pension arrangements, onus and commission – plus intangibles – recognition, reputation, praise and thanks, interest, responsibility, stimulus, travel, training, development, sense of achievement and advancement, promotion, etc. Managers need to understand the Equity Theory – and especially its pivotal comparative aspect – to be able to appreciate and improve one person’s terms and conditions to resolve that individual’s demands. Equity Theory reminds us that people see themselves and crucially the way they are treated so they must be managed and treated accordingly. Based on Herzberg does Two Factor Theory, what hygiene factors can you identify that are being met within Flight 001 ‘s work environment based on comments made by employees in the video? How are they being met? Is Flight 001 ‘s work environment meeting any motivation factors? If so, which ones and how? The hygiene factor that are being met within Flight 001 ‘s work environment are as follows: Working conditions, Company Policies and Interpersonal relations. Flight 001 has great working conditions for their employees and they pay attention to detail as far as letting their employees know that they are ot Just a number but as important as the any other employee where they are at a higher level of management and this also creates interpersonal relations between all employees and making them feel as adequate as the next. Due to the new baggage policy and charges customers want to bring more carryon luggage on the plane. The employees were informed and trained on how to react to this new policy in a positive manor to satisfy the customer. References http://stewardess. inhatc. ac. kr/philoint/general-data/maslow’s-hierarchy-of- needs-I . htm http://www. businessballs. com/adamsequitytheory. htm

Foe or Friend essays

Foe or Friend essays There was onceWhen I first enrolled for this class, I had no idea that we would discuss topics that effect everybody in the class in one way or another. This class is good because it allows each student to debate where he or she stands on a subject. Every aspect that we covered will impact my life. The movies we watched gave us an opportunity to listen, watch, and take in the experiences of others. The journals were windows into the thoughts and feelings of the students that the professor looked into to monitor the students progress. And it was relaxing to sit in a comfortable chair while we learn. For me, the most important subject that we covered was persona that the media gave off as being the ideal girl or the perfect guy. The media portrays them as having a tiny waist and ample breast or six pack with bulging muscles. Like when we discussed what the opposite sex is looking for in each other, I went home and made my own list: and then compared to my girlfriend. ...

Learn to Sing Douce Nuit or Silent Night in French

Learn to Sing Douce Nuit or Silent Night in French Here are the French lyrics with a literal translation, followed by the traditional English lyrics. The tune is the same, but as you can see, the French version of this Christmas carol is quite different. Listen to a video of Douce Nuit on YouTube  - the song takes some time to start but it does eventually, with the lyrics underneath which is convenient if youd like to learn it in French. Douce Nuit With Literal English Translation Douce nuit, sainte nuit!Dans les cieux ! Lastre luit.Le mystà ¨re annoncà © saccomplitCet enfant sur la paille endormi,Cest lamour infini ! x2 Sweet night, holy night!In the skies, the start shines.The announced mystery is taking placeThis child asleep on the straw,He is infinite love! Saint enfant, doux agneau !Quil est grand ! Quil est beau !Entendez rà ©sonner les pipeauxDes bergers conduisant leurs troupeauxVers son humble berceau ! x2   Saint child, sweet lamb!How tall! How beautiful!Do you hear the pipesOf the shepherds who lead their herdsTowards his humble cradle! Cest vers nous quil accourt,En un don sans retour !De ce monde ignorant de lamour,Oà ¹ commence aujourdhui son sà ©jour,Quil soit Roi pour toujours ! x2   It’s towards us he is running,In a gift without end !Of this world ignoring love,Where today starts his stay,Let him be king for ever! Quel accueil pour un Roi !Point dabri, point de toit !Dans sa crà ¨che il grelotte de froidO pà ©cheur, sans attendre la croix,Jà ©sus souffre pour toi ! x2 What a welcome for a king!No shelter, no roof!In his manger he is shivering with coldO sinner, without waiting for the cross,Jesus is suffering for you! Paix tous ! Gloire au ciel !Gloire au sein maternel,Qui pour nous, en ce jour de Noà «l,Enfanta le Sauveur à ©ternel,Quattendait Israà «l ! x2 Peace to all ! Glory to heavens !Glory to the maternal breast,Who for us, on this Christmas dayGave birth to our eternal Savior,Who Israà «l was waiting for. Lyrics to Silent Night Silent night, Holy nightAll is calm, all is brightRound yon virgin, mother and childHoly infant, tender and mildSleep in heavenly peace,Sleep in heavenly peace.3 Silent night, Holy nightSon of God, loves pure lightRadiant beams from thy holy faceWith the dawn of redeeming grace,Jesus, Lord at thy birthJesus, Lord at thy birth.2 Silent night, Holy nightShepherds quake, at the sightGlories stream from heaven aboveHeavenly, hosts sing Hallelujah.Christ the Savior is born,Christ the Savior is born

Cash Flows in Business Organisations Coursework

Cash Flows in Business Organisations - Coursework Example The concept of Net Profit and Net Cash Flow are not the same which often becomes a cause of concern for business owners. The difference in net income and cash flow arises because of the way income statements are prepared. Under the ‘accrual’ method of accounting, net income is calculated subtracting incurred expenses from earned revenues. Further, net revenues include credit sales (not involving immediate cash flows) and expenses include various provisions, deferred payments, depreciation, etc. that does not involve actual movement of cash during current period. In the statement of cash flow, all such accrual concepts are adjusted to net profit and only then operating cash flow is correctly arrived. For instance, consider the financial statements of UAL (shown in Appendix) where the company has incurred net loss of $723 million for the year ending 2012 but from the consolidated statement of cash flows we find that its Net Cash from Operations for the same fiscal was $935 million. This is because the company has charged higher ‘Depreciation & Amortisation’ for capital expenditure that does not involve actual outflow of cash. Thus, the books of account of company may show high/low net profits despite of having much less/high cash on hand. As per the requirements of IAS 7, operating activities involved in a business has to be reported using indirect or direct method. In the former method, profit/loss has to be adjusted after considering the effects of non-cash transactions like deprecation, accruals or deferrals of future or past operating activities. The later method classifies different operating items into gross cash payments and gross cash receipts. Information required for calculating these items are derived from books of account (adjusted sales, cost of sales, etc.). The basic layout of each method is depicted below, The ‘Net Cash from Operations’ in US Airways in 2011 was $472 million