Market Equilibration Process Paper

Market Equilibration Process ECO / 561 Market Equilibration Process Market Equilibrium occurs when the quantity supplied is equal to quantity demanded. The price equilibrium price exists when buyers and sellers price match and there is no governmental intervention (perfectly competitive market). After a market is in equilibrium, there is no trend for the market price to alter. For example, the law of demand states that as price goes up the quantity demand must go down and similarly, law of supply states price goes up quantity supply must go up (McConnel, Brue, & Flynn, 2009). Viewing the graph below we can find the equilibrium occur at the price of $3 where the quantity demanded equals the quantity supply at three units. The price is stable at $3 and at any other prices will have a |Price (P) |Quantity Demanded (Qd) |Quantity Supplied (Qs) | |$1 |5 |1 | |$2 |4 |2 | |$3 |3 |3 | |$4 |2 |4 | |$5 |1 |5 | Equilibrium occurs at P=$3 (Qs = Qd = 3 units) [pic] a tendency to change. At a dollor, for example, at $1 buyers are able to buy five units but seller are only willing to provide one unit to the market. In this situation, quanitity damand is greater than qualiity supply is referred to as a shortage and will result in an upward pressure in price. Since there is only one unit is available so buyers will complete to buy the one available unit by offering more money. Then price goes up and the qualitity demand decreases, quantity supply rises until equilibrium is reached (McConnel, Brue, & Flynn, 2009). pic] Disequilibrium Disequilibrium occurs when the price or quantity is not equal to Price or Quantity. If the prices are high, surplus is created and there will be inefficiency. Demand surplus is created when prices are below the equilibrium price. Since the prices are low, many buyers want the good while suppliers are not making enough of it. A shift in a demand or supply curve occurs when the good’s quantity demanded or supplied changes but the price remains the same. Short-run and Long-run Supervalu is going through a long-run, which is a period when a plant or company has a long period to adjust the quantities of all the resources that it employs. I currently work for Supervalu and its dissolving certain retail stores such as Acme Markets because it is not producing profits in a certain metropolitan markets. Acme Markets price was below the minimum average variable cost and to minimize its losses, Supervalu shut down the retail stores. New retail markets such as Save-a-Lot stores are increasing because it targets at low-medium level income families. Pure Competition Supervalu is part of the pure competition because its retail stores are offering standardized products. Supervalu retail stores are able to freely enter and exit the industry. In pure competition, marginal revenue and price are equal (McConnel, Brue, & Flynn, 2009). Reference McConnel, C. R. , Brue, S. L. , & Flynn, S. M. (2009). Economics: Principles, Problems, and Policies (18th ed. ). New York, NY: McGraw-Hill/Irwin.

Muslim Night Essay

An event called ‘Muslim Night’ was held on Saturday, May 7, at MLIC 3rd Floor, IUJ. This annual event starting from 7 pm was initiated and implemented by Muslim Student Association (MSA). Some of students at IUJ come from Muslim countries; they are from Soth East countries : Indonesia and Malaysia; Middle East : Uzbekistan, Kyrgyzstan, Kazakhstan, Turkmenistan, and Tajikistan; South Asia : Bangladesh, Pakistan; and Africa Sudan. Those countries have a value or culture influenced by Islam. Entitled ‘Muslim heritage in our world’, the event is expected to be cross-cultural understanding and value sharing for Muslim. Muslim culture has many heritages to the world, especially some inventions that still used till today. The inventions are from many aspects such as economy, science, engineer,etc. A short opening speech was delivered by Professor Ahmed. He said that more than 3 billion people in the world hold Islam. â€Å"This contributes significant influence to enrich world culture† added he. Islamic values cannot be separated from the way of Muslim life. Islam which means submission brings peaceful to any human beings. This is reflected from Islamic greeting ‘Assalamual’aikum’ which means to give peace upon to the addressee. The President of MSA – Nur Adib Najamuddin in this occasion said that †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (mohon diisi ya mas, maaf waktu saya lagi moto di luar) President of IUJ, Masakatsu Mori through his email is welcome this event. However, he was absent due to his scheduled appointments in Tokyo. This event is open for all IUJ’s community. More than 250 participants – student, staff, and faculty members were joining in. Much information about Islamic values and culture are available in the form of booklet and poster. Nasheed song describing Islamic culture was heard during the event. The Muslim Night 2011 provided some activities such as (1) a short movie presentation with the title â€Å"1001 Inventions and the Library of Secrets’ which tells about pioneering scientists and engineers from the history of Muslim civilization, such as Al Zahrawi, Al Jazari, and others. The film starred by Sir Ben Kinsley has won Cannes Festival France 2010 for best educational film and New York Film Festival 2010 as the best movie. (2) Islamic corner provided a free writing name in Arabic calligraphy for the participants and it was recorded that almost 200 participants wanted to be written their name in Arabic, (3) and ethnic food and drinks from various Muslim countries, such as South East Asia, Middle Asia, and South Asia.

IT leader ananlysis Research Paper Example | Topics and Well Written Essays - 1250 words

IT leader ananlysis - Research Paper Example t constitute the organization have a number of members handling different responsibilities in achieving certain goals and according to the chosen structure entail a participative theory in leadership. The style of leadership considers input from members of any team when coming to a decision. The style is based on encouraging fellow members of the team in brainstorming and problem solving, although there is a defined leader. The team leader has the responsibility of encouraging the members into participating in decision-making, problem solving and any other responsibilities that the group might be assigned. The team theory ensures that every member of the team feels relevant to any business that is conducted by the team and organization. The other theory that is evident in this organization is situation theory. The situation theory is a concept by which the right course of action is arrived at by considering various inputs associated with different parameters. The inputs that may affect the course of action may include time, budget, human resource, location, natural occurrences and man related interference. This theory of leadership allows the management the option of altering the style of leadership when the parameters and variables associated with arriving at the best choice of management in striving to meet the project goals and objectives. The team may choose a strategy based on the provisions provided to them in an effort to ensure that all the necessary team goals and objectives are met. There is evidence that supports the existence of this type of leadership in the InfoInfinity organization. In this case, a communication network model would be suitable in handling the interactivity of the members within teams and the leaders of the teams involved in the production process (Jablokow, Jablokow & Seasock, 2010). Management theories in leadership style are another probability associated with the IT organization. The management theories, also referred to as

From individul to Social Change trough Art Therapy Thesis

From individul to Social Change trough Art Therapy - Thesis Example Thus the paper concludes on a positive note of an existing correlation between art therapy and positive societal change in both perspectives and attitudes. Social change is a dynamic process of transformation caused by such catalysts as human agents, e.g. psychotherapists in a variety of contexts. Art Therapy, on the other hand, is defined as "an expressionist therapeutic mode of treatment adopted by psychotherapists and combined with conventional psychotherapeutic treatment techniques and theoretical constructs that underlie the very creative energies and processes of art forms across a broader spectrum of applications" (Kaplan, 2006). Mental health care profession has been evolving in the larger context of clinical and non-clinical psychotherapeutic environments against the ever increasing multifarious choices available to the patient. Art Therapy is one such alternative available to the average patient in a formal clinical setting or an informal non-clinical setting. Theoretical postulates on the subject of art therapy have evolved in a particularly dynamic context of creative healing and therapeutic rejuvenation. As any other form of psychotherapy, art therapy has its own set of rules and regulations. Art therapists are certificated as Licensed Professional Counselor (LPC), Licensed Professional Clinical Counselor (LPCC), Licensed Marriage and Family Therapist (LMFT) and so on. While the practitioner's domain includes the use of such materials as paints, brushes, chalks and markers, there is also an extensive use of theories. These professionals provide a variety of services in an equally diverse and complex set of circumstances. Their actual practice begins with children whose cognitive abilities permit their direct involvement in art therapy environment. Then there are those adolescents and adults who would also be totally immersed in this environment.The psychosocial environment of the art therapist deserves a broader analysis in the context ually determined perspective ridden backdrop of the practice environment. The average therapist is essentially a social catalyst with a degree of freedom to make decisions in a perpetually binding symbiotic relationship that presupposes all but divergence in attitude and behavior. Their professional outreach touches a variety of their subjects' needs ranging from physical to emotional and from cognitive to developmental.The available literature on the subject essentially focuses on the art therapeutic interventions but without a clear-cut or precise definition of the art therapist's role as a catalyst in the larger context of social transformation and the convergent behavioral synthesis. While the antithetical behavior of the individual therapist is no doubt open to debate because there is very little obvious effort being made by the individual to bring about societal change, the sum total of every single contribution to this social transformation is significantly higher and therefo re demands an in-depth analysis.The creative instinct of the individual art therapist has to be treated as an all pervasive force with a distinct identity despite the challenges that the researcher has to face in the

Heat Transfer Essay Example | Topics and Well Written Essays - 1000 words

Heat Transfer - Essay Example Distillation columns are in two categories; continuous and batch-process. The batch-process distills one batch of mixtures at a time; introduction of fresh batches only happens once the first batch is over. A continuous column feeds constantly on fresh mixture. The units deal with a continuous feed streams uninterruptedly (Nisenfeld & Seemann 1981). Distillation columns are vital in the industrial arena e.g. in distillation of crude oil. Crude oil heats to 350-400oC, and, the vapor and the liquid channeled into the distilling column. The vapor rises as it passes through the perforated plates and the liquid falls to the bottom. The hydrocarbons which are heavier condense faster and settle on the lower trays. The lighter hydrocarbons remain longer in their vapor state and later condense on the higher trays. A heat exchanger cools distillates. Distillation occurs at tremendously high temperatures. The columns use an air cooled heat exchanger for cooling. A heat exchanger is equipment built for transfer of heat from one medium to another, efficiently (Nellis & Klein, 2009). Heat exchangers find their uses in refrigeration, power plants, sewage treatment, air conditioning, and natural gas processing and petroleum refineries. The air cooled heat exchanger is a pressure vessel whose function is to cool the circulating fluid in finned tubes by forcing ambient air, by directing the heat to water or air. The radiator of a car is an example of an air cooler. The objective of using an air cooled heat exchanger is to increase the efficiency of a plant, and its environmentally friendly effect of not requiring an auxiliary supply of water and no water treatment chemicals required, compared to cooling tower counterparts. The problems of chemical and thermal pollution from cooling fluids do not exist while using the air cooled heat exchanger (Kroger, 2004). Industrial applications, which do not have a reliable water

HR Factors that Affect Quality of Customer Service in the Banking Essay - 1

HR Factors that Affect Quality of Customer Service in the Banking Industry in the UAE (National Bank of Abu Dhabi) part 2 - Essay Example This factor become and acts as a challenge for the businesses which gives customer satisfaction a lot of emphasis. There have been different studies in the past that has aimed at studying the minds of the customers however still date the minds of the customers has remained a mystery. In the present study the aim to study the customer satisfaction of the customers of the banks of United Arab Emirates. In particular the study focuses on the customer satisfaction of the customers of national bank of Abu Dhabi. In analyzing the factors behind the customer satisfaction and the quality of customer service provided by the employees of the bank the role of human resource in particular is identified. The study is aimed at studying if the human resource factors at all determine the quality of service provided by the employees of the bank to the customers. In order to understand the function of hr in ensuring that the quality of customer service is upheld the research focuses to study the matte r both on the qualitative and quantitative lines. As process of trying to find the impact the research first tries to find out the view of different researchers regarding the issue. After doing the literature review in order to analyze the view point of different researchers on the matter the next step that has been taken to carry the research forward is to analyze the primary data that is collected through survey of the customers to understand whether the customers are satisfied with the quality of the customer service provided by the banks. After analysis of the customer service that the bank provides to the customers of the bank the factors of the human resource and the effect that human resource has on the quality of service that the employees of the bank provides to the customers of the bank. As per the research it is found out that the lack

Online Marketing (independent women's clothing etailing) Essay

Online Marketing (independent women's clothing etailing) - Essay Example t up its Main Branch at London’s world-class visitor destination simply because it wants to tap the already existing market of Covent Garden and be exposed to tourists and visitors frequenting the area. However great the opportunity is for Closet to introduce its brands and clothing line given its marketing plan, the company still needs to identify its Communications Plan to be assured that it will reach its target market within the desired period and achieve 100% of its financial objectives. Closet shall position itself as a retailer of youthful, yet sophisticated clothing lines aimed at dressing up today’s career women. It will be warm, classy yet accessible to the modern-day cosmopolitan woman. Closet does not really emphasize on age, but on attitude. It would provide clothing to women who require a comfortable yet sophisticated set of wardrobe that would match their career and their fast paced lifestyle. Closet embodies the British Lifestyle. It represents the modern day woman – classy, sophisticated, yet trendy and youthful looking. As a brand, it represents class and elegance, yet it proves to be accessible to all those who wish to acquire the Closet Lifestyle due to its strong presence through various media vehicles. Roughly about 35% of Closet’s monthly operational budget shall be allocated to Advertising and Promotional strategies alone. This includes expenses to be incurred in utilizing mainstream media particularly print advertising; other alternative media; and design and production of merchandising and promotional materials. Mainstream-wise, Closet shall utilize print advertising particularly through tie-ups with different magazines. Although this would not be the company’s primary vehicle in promoting its products, it would just aim to maximize its relationship with these magazines whose websites Closet shall be utilizing in its online campaigns. Internet Marketing has become popular because Internet access is becoming more widely