Components of essay writing
Tuesday, August 25, 2020
ECON337 4 Coursework Example | Topics and Well Written Essays - 1500 words
ECON337 4 - Coursework Example These particularly were; iron and steel, boats, synthetic compounds and oil based commodities. The development of overwhelming assembling businesses in Japan after World War II can principally be to expanded fares and wages of male workers(Paul and Hart., pp.110-111). The fare of overwhelming made items expanded when contrasted with the before over-dependence on residential markets. The expanded male compensation and improved working conditions improved their buying power for the substantial fabricated merchandise like cars and progressed electronic items expanding the nearby market. What's more, the capacity of Japan to keep genuine compensation increments underneath efficiency gains guaranteed that the overwhelming assembling businesses would in any case make benefits in spite of the expanded work costs. This gave Japan an additional bit of leeway over the majority of its global partners prompting fast development and fare achievement (Paul and Hart, p.112). The enterprises rejected off during this period were primarily the light assembling segment. These are the creation of cotton materials, engineered materials and work concentrated electronic creation including radio, TVââ¬â¢s, and Tape recorders. The purpose behind rejecting off such businesses was chiefly the increasing expense of work in the nation and outside weight from its reciprocal (US &European governments) and multilateral exchange accomplices (IMF, OECD and GATT).Unlike the overwhelming and substance fabricating ventures that transcendently relied upon male work, the light assembling segment would oblige both male and female work. For this situation, ladies, work would be favored since it would be modest. Tragically, after WWII even ladies work became costly for the most part because of the quick development of yield just as business. As Japan expanded a lot of the universes fabricated fare showcase, different business people nations felt undermined and forced import limitations on Japan and requested that it changes its imports. This was for the most part in
Saturday, August 22, 2020
Impact of New Media on Teenagers | Research
Effect of New Media on Teenagers | Research THE IMPACT OF NEW MEDIA ON TEENAGERS CONDUCT Emily Shaba The information was gotten through meetings at two secondary schools and through the underneath inquiries questions. Inquiries questions Most of young people in schools get to new media through their telephones and workstations. The fundamental destinations that are utilized or the most utilized type of new media is Facebook and Whatsapp just as the web when all is said in done through Google to discover things they are interested about. The vast majority of the adolescent too confessed to having utilized new media often some even confess to being dependent on it. As per the exploration anyway new media has decidedly affected youngsters in a great deal of positive manners the first being it encourages them with look into in school work and getting some answers concerning different things that they might be interested about. Social locales help to assemble a closer connection among adolescents and their companions in addition to family members that might be far away. It gives speedy and modest correspondence when contrasted with calls and instant messages or heading out to meet their companions and family members. It likewise assists with making new companions for young people that are normally bashful and can't or discover it needed to make companions or cooperate with others genuinely. They get an opportunity to discover somebody to collaborate with and converse with when need be. Causes them to see new innovation that is coming in and how to utilize it successfully. They are anyway likewise some negative manners by which new media impacts youngsters right off the bat being that in spite of the capacity to make new companions they are not dependable. This might be imposterââ¬â¢s individuals with terrible habits that may wind up imparting them to the young people or more terrible crooks who wind up hurting blameless youngsters or taking from them. Most youngsters additionally admitted to the way that it is excessively enticing, it allows them to see things that might be wrong to them with a royal flair it resembles leaving chocolate on the table for a child and advising them not to eat when its alone with them in the space for quite a long time and no one can know whether they eat it. This additionally brings about adolescents being presented to pornography and other wrong pictures which later trigger things like pre-marriage sex and early pregnancies. Teenagers are additionally presented to a western lifestyle and will in general think medications and alcohols are a piece of life and on the off chance that you don't drink go clubbing or use media, at that point you learn about left and in reverse in time. It is addictive to the point that teenagers can not concentrate on whatever else other than it. It likewise gives wrong data about different things and teenagers get off-base exhortation from their new web discovered companions about various things which winds up debasing their character. Most young people consented to there being an adjustment in the manner they act or view things since they began utilizing new media. They know a bigger number of things than they did before and they are pickier about things all the more particularly the manner in which they dress or act around companions. New media from a scholastic perspective has likewise affected them emphatically in that it encourages them with schoolwork and research when their offered something to take a shot at school. It additionally causes them to discover notes, books and past papers that their school will be unable to furnish which likewise assists with their exhibition in class. They additionally gain proficiency with a great deal of new things online that they will most likely be unable to learn in school. They can get motivation from others that they can turn upward and get some answers concerning their lives on the web. It assists with their spellings and sentence structure. New media anyway likewise has scholastic weaknesses which as per the examination included: It lessens focus on school as the time that would be utilized for contemplating is fairly utilized on new media or social locales. Rather than gathering in class teenagers are occupied on their telephones utilizing online life or pondering what to state to who, their next Facebook or WhatsApp profile picture and status. It makes them lethargic and builds odds of copyright infringement as they should take a previously composed paper and simply change it than invest energy recorded as a hard copy a paper instead of on the web. Because of the numerous shortened forms utilized on social locales the adolescents spellings are some of the time influenced and their language as well. It gives them in some cases an inappropriate data on their school work as well. It has likewise affected the manner in which they identify with their companions in that they have more opportunity to visit and thus it brings them closer. Anyway different companions that don't utilize new media are confined. It lessens communication between teenagers rather than them getting together to visit or do something else they just need to talk utilizing internet based life. Most teenagers begin to feel that their way of life is deserted and begin to loathe it. They, subsequently, they neglect culture and custom which winds up driving them off track. This additionally wrecks the spreading of our African culture and legacy with different as it is gradually kicking the bucket. Individuals wind up following western culture and values and in any event, dressing which might be wrong for the African culture. Like not doing house tasks or disregarding visitors when they come as opposed to welcome them and causing them to feel at home. Most admit to their standards being bowed somewhat to fit in which may not, be that as it may, be an appositive thing, particularly If what they are fitting into is improper and damaging. I was likewise stunned to discover that their different teenagers that don't utilize any type of new media or social site and some that lone utilize new media for school in this day old enough and time. This was because of guardians denying them access to it in the wake of seeing a decrease in their evaluations. Others were a direct result of their religion not allowing them to do as such or basically not having any desire to do as such in the wake of being influenced by it contrarily somehow or another. They said the was an expansion in their presentation because of this in class as they had more opportunity to concentrate yet anyway did not have a few companions and regularly got a handle on left. Most youngsters said they ought to be an age limitation on destinations with regards to what they can and can't see. They ought to be suitable pictures on social destinations. Lastly, guardians should mind the time that their youngsters are given web get to. A few youngsters proposed being given access at night, ends of the week and on vacations. The Victorian Era: Social Classes Of England The Victorian Era: Social Classes Of England The Victorian Era social classes of England are not normal for some other social framework; each standard could be twisted or broken (An Ancestry.com Community, standard. 1). An individual could be naturally introduced to the most minimal class, and could wind up being a piece of the respectability by marriage (An Ancestry.com Community, standard. 1). A few beneficiaries were hitched to neighborhood families (Thornber standard. 10). A case of the odd principles would be the means by which the privileged and nobility, in mid-nineteenth century, would turn into the upper class(Cody par.2). The Victorian Era is seen as a time of extraordinary open door for each class.(Loftus standard. 1). Each class can be separated by influence, authority, riches, working and day to day environments, ways of life, training, and culture(Cody standard. 2). Now and again, the working class took power, not the upper class(Loftus, standard. 1)The lower class was partitioned principally by the riches and wor king states of families(Channe14.com, standard. 19). The fundamental gatherings comprise of high society - nobility and upper class , white collar class, and lower class. The upper class were lines of land-claiming families from respectable men (Thornber, standards. 2 and 4). Their arrangement of acquiring the land from their dad helped the upper class, yet it in the long run destructed them (Thornber standard. 4). A primary explanation was the decay of farming after the Napoleonic Wars (Thornber standard. 4). A portion of the upper class figured out how to keep their homes (Thornber standard. 8). Another purpose behind the gentrys fall was the male inheritors decrease into moral sin (French and Rothery 403). The landed upper class was in charge until the more youthful children began to put the families money related security at serious risk; they were before long sent to an outside school (French and Rothery 403-405). This ethical decrease was before long accused on the guardians instructing of their kids (French and Rothery 404). In spite of the fact that the children went to class, their hover of action despite everything spun around society (French and Rothery 405). Albeit one may believe the upper class to be incredible, the blue-bloods hold the force (Channe14.com, pars.8). The sinple meaning of gentry is rule of the best or unrivaled (Aristocracy, standard. 2). It has minimal change out of all the social classes (Channe14.com, pars.8). The vast majority who made up the gentry were government officials who originated from respectable families (Channe14.com, pars.8). The selected House of Lords is for the most part comprised of privileged people (Channe14.com, standard. 8). On the off chance that you were a piece of the British gentry, by birth, you were a courteous fellow (The Gentleman, par.2). To be a privileged person one needed to have land (An Ancestry.com people group, standard. 1). Strangely, most nobles were not of the most extravagant or most impressive families (An Ancestry.com Community, standard. 3). The privileged people were likewise leader of the public activity (Channe14.com, par.10). The extraordinary families filled the principle hovers, through their childhood, with style and culture (Escott standard. 2). They lived on excellent nation homes where they would go chasing and angling (Channe14.com, par.10). A few nobles even had London domains which would opened up during specific seasons (Channe14.com, standard. 10). Privileged people in the long run went to a point where they didn't do anything besides paraded their riches, and legislative issues turned into a game (Escott standard. 2). They understood they expected to step up their game when the white collar class started to rise (Escott standard. 2). The working class comprised of businessperson, business people, retailers, vendors, and some other men simply over the lower class (Loftus standard. 2). To be a piece of the white collar class, one needed to deal with ones self, their family, and ones network (Loftus standard. 4). It is protected to state that a meaning of the white collar class is imposs
Thursday, August 6, 2020
Book Riots Deals of the Day for June 6th, 2019
Book Riots Deals of the Day for June 6th, 2019 Sponsored by Book of the Month. The Golden Hour by Summer Wivesâ author Beatriz Williams follows the lux lives of those living in WW2-era Bahamas. Get the hardcover for $9.99 when you join Book of the Month today. These deals were active as of this writing, but may expire soon, so get them while theyâre hot! Todays Featured Deals If I Was Your Girl by Meredith Russo for $2.99. Get it here, or just click on the cover image below. A Manual for Cleaning Women: Selected Stories by Lucia Berlin, Edited by Stephen Emerson for $1.99. Get it here, or just click on the cover image below. How to Write an Autobiographical Novel: Essays by Alexander Chee for $2.99. Get it here, or just click on the cover image below. In Case You Missed Yesterdays Most Popular Deals The Night Circus by Erin Morgenstern for $2.99. Get it here, or just click on the cover image below. Behind the Throne by Adrian Tinniswood for $3.99. Get it here, or just click on the cover image below. Previous Daily Deals That Are Still Active As Of This Writing (Get em While Theyre hot!): The Poppy War by R. F. Kuang for $2.99 Claire Dewitt and the City of the Dead by Sara Gran for $2.99 All the Ugly and Wonderful Things by Bryn Greenwood for $2.99 Carrie by Stephen King for $2.99 Hogwarts: an Incomplete and Unreliable Guide by J.K. Rowling for $2.99 Short Stories from Hogwarts by J.K. Rowling for $2.99 That Kind of Mother by Rumaan Alam for $1.99 Secondhand Time by Svetlana Alexievich for $4.99 The Hypnotists Love Story by Liane Moriarty for $1.99 The Hike by Drew Magary for $4.99 Cant Escape Love by Alyssa Cole for $1.99 Jade City by Fonda Lee for $4.99 The Paper Magician by Charlie N. Holmberg for $1.99 Soulless (Parasol Protectorate Series Book 1) by Gail Carriger for $4.99 The Girl with the Red Balloon by Katherine Locke for $1.99 Gods, Monsters, and the Lucky Peach by Kelly Robson for $3.99 The Invisible Library by Genevieve Cogman for $0.99 Half-Resurrection Blues by Daniel José Older for $2.99 Cant Escape Love by Alyssa Cole for $1.99 Leaves of Grass by Walt Whitman for $0.99. Cane by Jean Toomer for $2.78 The Haunting of Tram Car 015 by P. Djèlà Clark for $3.99 A Quiet Life in the Country by T E Kinsey for $3.99 Empire of Sand by Tasha Suri for $4.99 Life and Death in Shanghai by Nien Cheng for $4.99 Binti by Nnedi Okorafor for $1.99 Binti: Home by Nnedi Okorafor for $2.99 Binti: The Night Masquerade by Nnedi Okorafor for $3.99 Instant Pot ® Obsession: The Ultimate Electric Pressure Cooker Cookbook for Cooking Everything Fast by Janet A. Zimmerman for $2.99 Rosewater by Tade Thompson for $4.99 A Princess in Theory: Reluctant Royals by Alyssa Cole for $5.99 Tell the Truth Shame the Devil by Lezley McSpadden with Lyah Beth LeFlore for $0.99 Magic Bites by Ilona Andrews for $2.99 Once Ghosted, Twice Shy by Alyssa Cole for $1.99 Whatever Happened to Interracial Love? by Kathleen Collins for $3.99 In Search of Lost Time: Volumes 1-7 by Marcel Proust for $0.99 Prime Meridian by Silvia Moreno-Garcia for $3.99 The Mirror Empire by Kameron Hurley for $2.99 I Met a Traveller in an Antique Land by Connie Willis for $0.99 Soy Sauce for Beginners by Kirstin Chen for $3.99 Silver Phoenix by Cindy Pon for $2.99 Dragonflight: Volume I in The Dragonriders of Pern by Anne McCaffrey for $2.99 A Curious Beginning by Deanna Raybourn for $2.99 George by Alex Gino for $3.99 My Soul to Keep (African Immortals series) by Tananarive Due for $3.99 Destinys Captive by Beverly Jenkins for $1.99 Howls Moving Castle by Diana Wynne Jones for $2.99 A Rogue By Any Other Name by Sarah MacLean for $1.99 Assassinâs Apprentice (The Farseer Trilogy, Book 1) by Robin Hobb for $2.99 The Price of Salt by Patricia Highsmith for $0.99 Sign up for our Book Deals newsletter and get up to 80% off books you actually want to read.
Saturday, May 23, 2020
Renewable Energy Alternative Energy - 1419 Words
Alternative energy includes forms that can be continuously renewed without the concern of the supply running out. Over the last two centuries, renewable energy has become much more popular, worldwide. Forms of renewable energy most popularly include solar, wind, and hydroelectric power. Laws and regulations are constantly created to improve the forms of energy we use and the amount in which each form creates. Alternative energy is also referred to as renewable, and received its name from being the alternative to the traditional forms which include the burning of coal, wood and oil, which are considered nonrenewable. The environmental impact of nonrenewable energy is much more severe and permanent than that of the newer forms. Due to theâ⬠¦show more contentâ⬠¦Nonrenewable energy includes burning coal, wood, nuclear power, and crude oil or petroleum. Nonrenewable energy is limited in the environment and causes much harm to it as has been shown through the last two centuries wit h the depletion of natural resources such as oil, coal, the pollution of our water supply, and the deforestation cause by the logging of trees, as well as the environment. The carbon dioxide emissions have increased significantly since the production of nonrenewable energy has been created. Alternative energy sources cause very little harm to the environment compared to that of their competitors. By using alternative energy, the earth refrains from losing its forests, and degrading its water supply, and the earth, on return will obtain better environments for its inhabitants. Once the instillation of the source, whether it be solar panels for solar energy, wind turbines for the collection of wind energy, or dams for the use of hydroelectric power, the environmental damage is miniscule. Wind energy makes up for over four percent of overall energy in 2013, according to the Environmental Information Administrations Short Term Energy Outlook. Solar energy is the most popular alternativ e form of energy, especially within residential areas. Solar panels are easily installable on roofs of homes facing the angle at which the hottest form of the sun is portrayed, making them easy for individuals homes to use. Silicon photovoltaic cells
Tuesday, May 12, 2020
Essay about Socrates Views on Virtue and Happiness
There are certain truths of the world that cannot be ignored or overlooked. Many philosophers have spent countless years discussing, debating and evaluating such truths. One such influential philosopher is Socrates. Born in Athens in 469 B.C.E, he spent most of his time at the marketplace and other public places engaging in dialogues about truths of life. Among many other things, he discussed virtue and happiness and how closely they are related. According to Socrates, virtue is absolutely necessary for perfect happiness because virtue brings a type of happiness that other things could never bring. In this paper, I will explain the aforementioned idea of Socrates on virtue and happiness and through evidence from Platos Apology which isâ⬠¦show more contentâ⬠¦This idea of goodness and virtue goes anything beyond worldly values and ideals. A good man cannot be harmed either in life or in death(41d), says Socrates further explaining that no matter what, a better man [cannot] be h armed by a worse(30d). Having virtue gives you a certain happiness that is well beyond life or death or worldly values and goods. So, how exactly does a person become virtuous? Socrates offers suggestions and explanation for this question as well. Socrates claims that one cannot be virtuous accidentally. Just because you commit a virtuous act does not make you virtuous. An understanding of the concept of virtue is equally important as the virtuous act itself. One needs to understand the nature of virtue which requires reflection of virtue and this reflection is only possible once you grasp your own ignorance about the nature of virtue. This understanding of ones own ignorance is human wisdom. So, since being perfectly happy requires being virtuous and being virtuous requires human wisdom, human wisdom is necessary for perfect happiness. So as a person begins to acquire human wisdom which is merely an understanding and acknowledgment of ones own ignorance, they are on their road to acquiring perfect happiness. So what happens to people who cannot acquire human wisdom and in turn cannot be virtuous? Are they denied happinessShow MoreRelatedSocrates, Plato, and Aristotels View on Happiness1529 Words à |à 7 PagesWhat Is Happiness What is happiness, and how can one achieve true happiness? This is the ultimate question of life and what every person is seeking an answer to. Many feel that they have found their answer in belonging to the faith of their choice, but what is it that their faith teaches them that brings them happiness? The Philosophers Socrates, Plato and Aristotle all have a similar view on what happiness is and how to achieve it. Aristotles view is based on Platos and Platos is based on SocratesRead MoreEssay On Socrates On Happiness1594 Words à |à 7 Pagespursuit of happiness is a timeless and ageless endeavor. Since the beginning of time people have searched far and wide for the source of happiness. Even the greatest minds attempt to discover the basis of all human contentment. The father of philosophy, Socrates, was one of those few that might have unearthed the key to human happiness. His understanding shaped the way that the western world sees pleasure, joy, and happiness. His views on how to obtain them are still alive today. Socrates lived inRead MoreThe Role Of Happiness . ââ¬Å"Happiness Is The Meaning And The1326 Words à |à 6 PagesThe Role of Happiness ââ¬Å"Happiness is the meaning and the purpose of life, the whole aim and end of human existenceâ⬠(Aristotle). In ethics, we study the place of morality in a social construct, where happiness is the core of ethical concern. Happiness for the individual, happiness for the majority, happiness for nature. What is the key to a happy life? Aristotle believes the key is eudaimonia, or a state of having a good soul or being in a contented state of being healthy, happy, and prosperousRead MorePlato s View On Justice1261 Words à |à 6 Pagessignificance to the state and its individuals. In Book I, Thrasymachus and Socrates both provide their views on the definition of justice. The discussion takes place in Cephalusââ¬â¢s residence with his son Polymarchus. Through Platoââ¬â¢s dialogue, the definitions on justice by both Thrasymachus and Socrates will be discussed in this paper. Thrasymachus, a sophist, teaches the art of persuasion. He is unpleased with Socrates remarks on justice and accuses him of never clearly responding to questionsRead MoreStrengths And Weaknesses Of Socrates1663 Words à |à 7 Pages Socrates is known in todayââ¬â¢s world as one of the greatest philosophers in history. Born in 469 BC just outside of Athens, Socrates was properly brought up and thoroughly educated, he developed both physical and mental strengths. Socrates spent time with the philosopher Archelaus, where he studied astronomy, mathematics, and was introduced to philosophy. Archelaus taught with a scientific approach. Socrates turned from this approach and created his own. He decided instead of trying to understandRead MoreWhat Is Philosophy According to Socrates Essay970 Words à |à 4 PagesWhat is philosophy according to Socrates? Philosophy is an academic subject that exercises reason and logic in an attempt to understand reality and answer fundamental questions about knowledge, life, morality, virtue, and human nature. The original word for philosophy comes from the ancient Greek word philosopha, which means love of wisdom. Although Socrates himself never claimed to have any answers to the questions he raised, his views and methods of philosophy became the foundations of whatRead MorePlatos Symposium : The Nature Of Love1592 Words à |à 7 Pageswithin that nature. The underlying goal of this force of love is immortality, though he does not directly articulate it in his speech. It is with the emergence of Socratesââ¬â¢ ideas that we are equipped with sufficient evidence reinforcing Aristophanesââ¬â¢ story to be one in which immortality is the end goal, and that we are made to realize Socratesââ¬â¢ speech is really a further elaboration on what Aristophanes put forward, providing the tools to trul y comprehend his true point. Aristophanes describes theRead MoreKant And Kant s Philosophy On Ethics970 Words à |à 4 Pagesbehavior. Is there a universal ethical behavior ? Are all countries ethical ? Theses very same questions many philosophers have tried to figure through time from Socrates to Immanuel kant (and to this very day for the matter!). While comparing two great eathist Plato and Immanuel Kant I, the writer argue that Kant s ideological views on ethics were far superior to Platoââ¬â¢s due to several factors. For one Kant was born in a more recent time and is a for lack of a better term a ââ¬Å"modern westernerâ⬠Read MoreSocrates s Virtue Of Thinking And The State1564 Words à |à 7 PagesSocrates uses the expression of gadfly to refer to himself. Here, the gadfly stings and makes one irritated but at the same time steering, you forward. ââ¬Å"I am that Gadfly, given by Godâ⬠¦to Athens,â⬠Socrates submits (Plato, 2015). He believes that his actions, though times irritating t o the state, were useful for ensuring forward movement in the society. Therefore, Socrates demonstrates his role is that of maintain regard of morals and keeping track the state. By looking at his later submission, ââ¬Å"unexaminedRead MoreSocrates Life Of The Soul, And Critical Thinking1721 Words à |à 7 Pagesdemands a full cycle of work and consumption. Socrates believed that a personââ¬â¢s job in life is to grow both personally and spiritually. Without growth of the human soul, a person is not able to reach the pure serenity of the examined life. Socrates understood wisdom to be one of the most important virtues a person could possess. Seeking true wisdom entails questioning with logical argument, not just accepting things for what they are worth. Contrary to Socrates, Ivan Ilyich lived a life full of social
Wednesday, May 6, 2020
Demographics and Social Stratification Free Essays
AUTUMN (REPEAT) EXAMINATION, 2010/2011 Exam Code(s): Exam(s): Mode Code(s): Module(s) Paper No. : Repeat Paper: 2BC1, 2BC2, 2BC3, 2BC4, 2BC5, 2BCA1, 3CL1, 4CL2, 4BI1, 4BI2, 1DB1, 1OA1, 1EM1, 1PIB1. Second Year B. We will write a custom essay sample on Demographics and Social Stratification or any similar topic only for you Order Now Comm. Degree. MK 206 MK 203 MK 289 CONSUMER / BUYER BEHAVIOUR 1. ____ Special Paper: ____ External Examiner(s): Internal Examiner(s): Professor Peter Naude Dr. Declan Fleming Ms. Ann Walsh Ms. Orla Higgins Please answer three questions. All questions carry equal marks. Two hours. Release to Library: Yes ? Instructions: Duration: No. of Answer Books: Requirements: Handout Other Material No. of Pages: Discipline(s): Two including cover page. Marketing CONSUMER / BUYER BEHAVIOUR [MK 206 MK 203 MK 289] PLEASE ANSWER THREE OF THE FOLLOWING QUESTIONS 1. What is meant by perception? (20 marks) Give a detailed description of the factors a marketer must take into account when devising a campaign to get the attention of consumers. (80 marks) 2. Discuss the nature of situational influence on consumer buying behaviour. (100 marks) Explain any two of the following concepts and discuss their relevance from a Consumer Behaviour perspective: â⬠¢ â⬠¢ â⬠¢ â⬠¢ Elaboration Likelihood Model Fishbein Model Self Concept The Five Step Consumer Behaviour Decision-Making Model (100 marks) . 4. What is meant by Cognitive Learning? (20 marks) Describe two main Cognitive Learning Theories, giving examples of how these theories can be applied in marketing. (80 marks) 5. Describe the household decision-making process for childrenââ¬â¢s products. In your answer outline determinants of family purchase roles (role specialisation, involvement, characteristics) and describe how conflicts are resolved. (100 marks) How to cite Demographics and Social Stratification, Essay examples
Friday, May 1, 2020
Demand and Supply Microeconomics Analysing
Question: Discuss about the Demand and Supply Microeconomics Analysing. Answer: Introduction Demand and supply are the two major aspects of microeconomics that helps in analysing the change in the market conditions of a particular product. The topic that has been chosen for this report is elasticity of demand. Elasticity of demand helps in analysing the effective change of the quantity demanded of a particular product with the effective change in its price (Rader, 2014). In this report, the oil industry of Canada has been taken into consideration. Two articles have been selected in this aspect that would provide with the necessary information regarding the change in the quantity demanded of the product due to the change in its price. According to the first article posted by the Huffingtonpost Canada, in 1st December, 2015, it could be stated that as stated by the CEO of Canada mortgage and housing corp., there would be a sharp fall in the housing prices of Canada if the oil prices fell to $35 per barrel and stayed there for five years. With the fall in the prices of oil, there would be drop in the housing prices by 26% and a rise in the rate of unemployment in the economy by 12%. According to Evan Siddall, unemployment rate is a better indicator than interest rates of where the housing market is headed, because job losses can lead people to sell their homes or default on their payments ("$35 Oil Would Cause House-Price Collapse: CMHC", 2017). Elasticity of demand measures the effectiveness of the change in the quantity demanded of the product with the change in its price. With the fall in the [rice of oil, there would be a decrease in the profit earned by the businesses. This would aim at reducing the employment conditions prevailing in the economy. People would be earning lesser in the economy than it would have before. Moreover, the unemployment rate of the economy would increase considerably. As the income of the people would fall, there would be reduction in the purchasing power of the economy, thereby resulting into a fall in the process of certain products. Hence, it could be stated that houses being considered as relatively more elastic product, would rather result into a fall in the prices, in order to generate the demand for the goods. Goods that are relatively elastic in nature has an elasticity rate of more than one. In figure 1, it could be stated that the demand curve faced by the housing market is fatter in nature, thereby denoting its slop to be more than 1. This indicates relatively elastic demand for houses in the economy. The proportion of reduction in the price of the product from P1 to P2 is lesser than the proportion of increase in the quantity from Q1 to Q2. The second article has been posted by ecofix word press, on 7th may, 2015. This article deals with the elasticity of demand of air travel. According to this article, the demand for an individual to travel by air depends upon the price of the travel and the income of the consumer. Both price elasticity and income elasticity is taken into consideration. While the price elasticity measures the effective change in the quantity demanded due to the change in price, income elasticity measures the effective change in the demand of the product due to change in the income of the consumer (Williamson, 2017). In terms of price and income elasticity, a meta-study summarised 254 different estimates from 21 published studies and found an overall median price elasticity of -1.1, indicating that demand for air travel is relatively sensitive to price changes ("Elasticity of Demand for Air Travel", 2017). According to this article, purpose of travel plays a major role in travelling by air. When the consumer has to conduct a business travel, it would be relatively inelastic that the one who would be travelling for luxury and tourism. The effectiveness in the change in demand for air travel would be much lesser for business travels than that of luxury tour travel due to the change in its price (Acemoglu, Laibson List, 2017). In figure 2, there are two diagrams. First diagram deals with the relatively elastic demand curve of the individuals who travel for business and the second diagram deals with the relatively inelastic demand curve for the individuals who travel for luxury tours. For business travels, a rise in the price of air travel shows a considerably smaller effect on the change in quantity of the products than that of the luxury travel consumers. The elasticity of demand for business travel is lesser than one and that for luxury travel is more than one. This results in a steeper and flatter demand curves respectively. Conclusion On analysing the two articles, it could be stated that the demand for a particular product is depended upon the price of the product. Moreover, it is also dependent upon the elasticity of the quantity demanded. Reference $35 Oil Would Cause House-Price Collapse: CMHC. (2017). The Huffington Post. Retrieved 1 April 2017, from https://www.huffingtonpost.ca/2015/12/01/house-prices-canada-oil-prices_n_8692340.html Acemoglu, D., Laibson, D., List, J. (2017).Microeconomics. Pearson. Elasticity of Demand for Air Travel. (2017). econfix. Retrieved 1 April 2017, from https://econfix.wordpress.com/2015/05/07/elasticity-of-demand-for-air-travel/ Rader, T. (2014).Theory of microeconomics. Academic Press. Williamson, S. D. (2017).Macroeconomics. Pearson.
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