Business Economics Sole Supplier in Imdustry

Question: Describe about the Business Economics for Sole Supplier in Imdustry. Answer: Introduction: A monopolist is the sole supplier of the product in the industry. It regulates price. It either decides price or output. There is no supply curve in such kind of a market structure. It is in hands of the sole supplier to regulate how much output it wants to produce and sell it in the market. However, pricing of such products are guided by the fundamental MR-MC rule. That is, price is settled at a point where MR is maximal. Profit maximization is at that level of output where MR is equal to MC. Thus, corresponding price is the equilibrium price and corresponding output is the equilibrium quantity (Parkin,2013). Analysis: a). A seller would charge lower prices of its product only when he is aware that the price elasticity of the demand of its product is very high. In this case, the seller is very much aware of the fact that any downward movement in the price is very much likely to have a positive effect on the quantity demand. Moreover, due to the given downward sloping nature of the demand curve, it will be able to send more at a lower price and vice versa. It would continue to produce upto a point where MR=MC. Below diagram (left side) depicts the same scenario where the elasticity of demand is very high. A seller charges lower price and offers greater quantity. b). A monopolists seller would increase the price of its product when that there is no availability of any close substitute for the product it sells . This makes the demand for its product to be greatly inelastic. Hence, there will be a smaller reduction in the demand of the product on the account of the increase in the price. (Mankiw, 2007). Below diagram (right side) depicts the same scenario where the elasticity of demand is very low. A seller charges higher price and offers lesser quantity. Conclusion: Thus, price elasticity of demand plays a vital role in determining how much price or quantity would be offered to the buyer. Question 2). Introduction: ` A theory of comparative advantage states that there will be an overall rise in the economic welfare if both countries engage themselves in trade by trading and specializing in that commodity whose opportunity cost is low. Analysis: A statement that a country would flourish without trade is completely false. A country in isolation would be producing both goods- efficient as well as inefficient ones. However, if such country engages in trade, specializes in producing efficient commodity and imports a good where the cost of producing is relatively high, then it would produce more output and earn extra income. For example, France, in isolation would produce 29 units of both goods and China would produce 25 units of both goods. After entering into trade and specializing in the efficient commodity where the opportunity cost is low, both countries would produce more (Parkin,2013). For example, consider the following table where the opportunity cost for producing 1 unit of mobilephones is 1.9 units for France. For China, the opportunity cost for producing 1 unit of mobile phones is 1.08 units. Thus, China has comparative advantage in producing mobile phones because it has lower opportunity cost. France has comparative advantage in producing cheese due to lower opportunity cost. Mobile phones Cheese France 10 19 China 12 13 Total 22 32 Conclusion: Hence, because of the existence of the constant returns to scale, both countries specialize (France in cheese and China in Mobile phones) in producing a product which increases after specialization. That is, China will be producing 24 units of wine instead of total 22 units of production and France will now produce 38 units of cheese instead of 32 total units (Mankiw, 2007). References: Mankiw , G 2007,Economics: Principles and Applications, 4th edition South Western, Cengage Learning India Private Limited. Parkin, M 2013,Microeconomics, 11thedition, Prentice Hall.

Healing free essay sample

After one infection, two operations, three drainings, and 15 physical therapy sessions, I was back in the hospital for yet another operation. They carved me up like a tomato. Almost surreally, time froze; the events of my life blended together. The days since my first knee surgery were confused, thrown in a stainless-steel blender and turned to puree. I woke up after the surgery and was wheeled to my room. I took my volleyball and tossed it in the air over and over. I closed my eyes, focusing not on the pain but on getting back on the volleyball court. Serving, passing, hitting I could still practice, if only in my mind. This was my third surgery within two months, and I was miserable. I sat up in my hospital bed watching â€Å"Jeopardy,† eating orange sherbet, and talking to my mom. â€Å"Mom,† I said with a small quiver in my voice, â€Å"I feel sad. We will write a custom essay sample on Healing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I feel like I let this injury defeat me, and I don’t know what to do. Why did this happen to me? Why me?† â€Å"I know,† she said. She could feel my pain, see it in my face, and hear the distress in my voice. â€Å"Sometimes when you have a setback, it is not about beating an opponent on another team; it can be about beating the opponent within. I know that the fight inside yourself can be the hardest, but taking charge and rising above the situation can be the most rewarding. You end up learning a lot about who you are and what type of person you want to become.† I thought about what Mom said as I took another bite of sherbet, a tear dropping in my spoon. As the ice melted in my parched mouth, I realized that I had to change. A metamorphosis was in the works. Although the rehabilitation would be painful, focusing my energy was necessary to achieve my goals. If I could alter my perspective, I knew that I could be positive. I just had to propel myself through it. I didn’t want people to pity me, and most importantly, I couldn’t pity myself. That day, I started to embrace the pain and use it to my advantage. The more pain I was in, the harder I pushed. One week later, I took my first steps without crutches. I had freed myself from the cuffs that bound me to failure. My experience from the surgeries has made me a more patient, perseverant, and hard-working young woman. I will never forget the pain of the tedious healing. My leg no longer looks like a sliced vegetable, and I have learned the virtues of pushing myself to the ultimate limit.

Ram Manohar Lohia Essay Example

Ram Manohar Lohia Essay Example Ram Manohar Lohia Essay Ram Manohar Lohia Essay Ram Manohar Lohia, (born March 23, 1910, Akbarpur, India- died October 12, 1967, New Delhi), Indian politician and activist who was a prominent figure in socialist politics and in the movement toward Indian independence. Much of his career was devoted to combating injustice through the development of a distinctly Indian version of socialism. Lohia was born to a family of merchants. Following the death of his mother when he was two, he was raised primarily by his grandparents, although his father’s commitment to Indian nationalism influenced him during his childhood. Lohia attended Banaras Hindu University before earning a bachelor’s degree (1929) from the University of Calcutta and a doctorate (1932) from the University of Berlin, where he studied economics and politics. In 1934 Lohia became actively involved in the Congress Socialist Party (CSP), founded that year as a left-wing group within the Indian National Congress; he served on the CSP executive committee and edited its weekly journal. A vehement opponent of Indian participation on the side of Great Britain in World War II, he was arrested for anti-British remarks in 1939 and again in 1940; the latter incident resulted in an 18-month imprisonment. With the emergence in 1942 of the Quit India movement- a campaign initiated by Mohandas K. Gandhi to urge the withdrawal of British authorities from India- Lohia and other CSP leaders (such as Jaya Prakash Narayan) mobilized support from the underground. For such resistance activities, he was jailed again in 1944–46. During and after India’s transition to independence in 1947, Lohia continued to play an active role in its politics. At loggerheads with Prime Minister Jawaharlal Nehru on several issues, however, Lohia and other CSP members left the Congress in 1948. He became a member of the Praja Socialist Party upon its formation in 1952 and served as general secretary for a brief period, but internecine conflicts led to his resignation in 1955. Later that year Lohia established a new Socialist Party, for which he became chairman as well as the editor of its journal, Mankind. A spellbinding orator and a passionate and perceptive writer, he advocated for various sociopolitical reforms in his capacity as party leader, including the abolition of the caste system, the adoption of Hindi as India’s national language, and stronger protection of civil liberties. In 1963 Lohia was elected to the Lok Sabha (the lower house of parliament), where he was noted for his sharp criticism of government policies. Although his parliamentary influence was ultimately limited, his progressive views, which he expressed in numerous publications, proved inspirational to many Indians.

Depend on you ( follow the instruction) Essay Example | Topics and Well Written Essays - 1000 words

Depend on you ( follow the instruction) - Essay Example The initial impetus that was received from these kings and queens was required for the religious structures to attain strength after which it could fashion itself into a self-sustaining entity. A promotion of these religions also served important functions for these monarchs as it led to unity in realms other than religion in most cases. This effect was partially due to the emergence of alternative centres of power but it was also because of the individual philosophies that were a part of these religions. These philosophies may not have survived in the absence of the state sponsorship that it received but since the monarchs of this age extended their patronage to these religions, there was a certain kind of unity that was forced upon the people as a result of the royal patronage. Buddhism managed to create a certain kind of unity between sections of Hinduism, which was till then the main religion of the Indian subcontinent. The different philosophical views that existed in Hinduism became united owing to the fact that Buddhism was on the ascendant due to the patronage that was extended to it during the reign of Asoka, who reigned over India. Buddhism represented a challenge to traditional ideas of Hinduism which advocated the existence of the caste system and had many rituals that were present for the sake of upholding the structure of caste. With more egalitarian structures, Buddhism held great attractions for the downtrodden of the Hindu society. If not for the patronage extended by Asoka, Buddhism may not have survived the opposition from Hindu power structures. Asoka’s patronage, however, enabled there to be unity in the political realm. People of different religious affiliations came together because of the philosophy of peace that Buddhism preached, which was taken up by Asoka. The spread of the message of peace that Buddhism preached was largely owing to the patronage of Asoka and this fostered a

Stopping By Woods On A Snowy Evening - Robert Frost Assignment

Stopping By Woods On A Snowy Evening - Robert Frost - Assignment Example The effect was a beautifully told narrative for its sheer simplicity and rawness. The poem is quite straightforward whose theme and content are readily demonstrated by the title. It revolved around the authors thoughts on the woods and living within its environs. It indicated themes of solitude, thoughts about community as well as personal experiences of someone who occasionally visits the woods and imagines a line from its edge especially as it loomed darkly or when filled with snow. It was dark but brooding, which made it terrifying but sublime at the same time. Also, the narrative and the story being told about the experience may not be the most logical but it was emotionally charged, drawing the reader into the authors melancholy. The poem was supposedly written between 1900 to 1910 when Frost stayed at a farm in West Derry, New Hampshire. An account that gave perspective on the poetry and themes involved was Frost description of this particular episode. He allegedly remarked that his stay was marked with difficult winter that was bleak "both weatherwise and financially" (Tutten & Zubizaretta, 348). The farm stay was alleged to include several trips to the market and back with very little money to spend for food and gifts to bring back to his children. The bleak thoughts must have been interrupted by the scenery and the exertions of both man and horse as they trundled back and forth, farm to market. The message or messages can be illuminated by this context: here was the though process of one descending into a dark episode of his life. The language of the poem is very clear and poignant, capturing not just the poets reverie but the actual flow of thoughts and emotions as driven by his circumstance and the specific journey and stops at the woods. Here was the aspect that lacked logic or system. The poet stops at the woods, and then was thinking

Jesus and Mohammad Paper Essay Example | Topics and Well Written Essays - 1250 words

Jesus and Mohammad Paper - Essay Example God’s message of this new covenant was delivered by archangel Gabriel who informed the mother of Christ that the Father was pleased with her purity, thus, of all women it was she who ought to bear the very delicate task that would later bring a saving act to redeem sinful men from all trespasses. The plan included Joseph the Carpenter to stand by Mary in crucial times of childbirth which eventfully took place on a specially humble livestock trough in Bethlehem. Together, the couple reared the infant child to youth assuming he was all their own then came an instant when Jesus had to travel with his parents to Jerusalem for Passover and go on a separate way to realize his union with the spiritual Father about whom he sought wisdom through the church elders and rabbis. Muhammad, on the other hand, was brought to existence in an influential setting by parents who were wealthy merchants in Mecca. Being orphan at six, a Bedouin nurse took custody of Muhammad until he learned to live among the nomads and caravans. His experience with Arabian trade across the desert in and out of Mecca earned the respect of Khadija, a widow businesswoman with whom Muhammad acquired prosperity as a merchant upon marriage. While engaged with his fruitful affairs with several traders, there came upon moments of self-doubt and yearning spiritual enlightenment for the inner being. As a consequence, he committed to a life filled with prayers and meditation and on Mt. Hira, it was believed that Muhammad, at the most solemn depth of interaction with the Supreme Being, was strangled by the archangel Gabriel in a holy encounter which he described to have come flashing with brilliant, blinding light as if one capable of impressing a mixture of dread and awe. He confessed that the vision commenced with him an authority to repent and spread the word of one God throughout the nation. This marked the turning point

Arguments Against India As A Single Nation Religion Essay

Arguments Against India As A Single Nation Religion Essay I have tried to understand this topic and share my insights for the same. I have tried to deconstruct the topics in different subject areas. I tried getting an opinion on those subject areas and then link them to have a holistic view of the topic. Before I share my comments on the dictum Unity in Diversity , lets look at India in general. India is imagined in a plethora of ways. The political ideology always has an impact on the nation. A nation exists because of the people. The pathos and ethos which binds them together and makes them move towards an ideal state of affair is long and testing. There are moments of glory in the history of a nation when all political parties rejoice and encourage activities which benefit the image of a nation. For instance, The Nobel prize awarded to Amartya Sen in 1998 when he transformed economics into a moral science in which he targeted many public policies like education and hunger. The same policy has been adapted to the framework of India and used for development by ruling politics. There is need of Innovators and entrepreneurs like Sen who can lead India to a state of absence of malnutrition, illiteracy and poverty. Behind the deathly blows of caste rivalries and religious feuds is a stark reality of limited resources. Behind the demand of a separate land is the desire for reco gnition and growth opportunities. Only, if the political system could design policies to combat it! I strongly believe in the dictum Unity in Diversity. I would like go about in a theoretical and later, practical way in justifying the same. India is a vast country in which people belonging to different religions, castes and creeds live together. Though usually they live in harmony and co-operation with each other, sometimes the harmony is disturbed and disturbance creates many social problems. In order to bring the people belonging to different religions together and in a bid to bridge the gap in cast differences, the countrys social reformers have made positive attempts to forge unity in diversity. India is the cradle of many cultures. In this ancient land, the people belonging to different cultures are living together preserving their own culture and cultural unity, In spite of the fact that there is an apparent disunity in the country, basically there is cultural unity which is visible in every walk of life. It is on this account that it is said that in India there is unity in diversity. India is a land of many religions. There might be different factions and sub sections from the main streamline and that might prima facie give an idea of religious disunity, but on the whole there is unity in so far as each religion is concerned. We basically believe in the theory of dharma and karma. The theory of rebirth and purification of soul, salvation and the philosophy of hell and heaven hold s good every where. Respect for mosques, temples churches, Gurudwaras and religious gods and goddesses is prevalent. A multitude of gods and religious practices, the existence of hundreds of groups called castes, variety of foods and clothing and different types of kinship organization, which one finds in India, create an impression of a bewildering variety impossible to classify and of a society divided into innumerable tiny compartments. Many anthropologists, especially those dealing with the phenomenon of casts, have described this a illustrating the fissiparous tendency of the Indian society, while others have called it horizontal segmentation of the society. Indian philosophy is a product of the Indian society, and reflects the various cultures which have blended together after the time the Aryan entered India. The developed and elaborate rituals on the one hand, and the monistic philosophy on the other, are not an evolution of purely Aryan tradition, but a product of the fusion of the Aryan and the non-Aryan. While the region west of Punjab and including the present Delhi region seemed to be the region of the development of early Aryan thought, the central and the eastern Gangetic plain to the north of the river Ganga was the region of the rise of new specta, culture -contact, culture-confilict and final fusion. Changes have occurred in the overall conception of the gods and modes of worship, and ideas of purity. There are also in existence different modes in different regions. These changes are not due merely to internal evolution. Neither are they due to continuous fission of religious bodies. Independent groups living in the same continent were practicing different modes of religion. The overall changes are due to gradual ascendance of new , non-Vedic ideas, and the existing differences are due to interaction of independent groups who kept their separateness and reacted to each others cultural capital in different ways. The early Aryans themselves racially mixed, and showed a certain catholicity in taste, but the later conquerors, like the Mughals and the fairer British, have made public preference to fairness of complexion in women, though extreme fairness of skin in men is not valued much, at least in the south. Details of formal art forms, like rhyming, are different for different regions. In classical poetry there was no end-rhyming. In Prakrit poetry, especially in Marathi and sometimes in Ardhanagadhi, one finds the end-rhyme. Apparently, this practice influenced Marathi poetry, too. In the neighboring Karnataka, however, we have line which have a rhyme in the beginning and not at the end. All these differences, and also those in dress, ornaments, decoration of house, and food are partly regional, and partly found also in different castes of the same region. It is necessary to study this multiplicity region by region, and it will unfold a tale of cultural conservatism as also cultural borrowi ngs and changes due to cultural adjustments between separate ethnic groups. The peculiarity of Indian social life is that ethnic groups have lived separately from one another. They have devised a mode of inter-group behavior which avoids mutual interference or merging so that the identity of the original group is not lost. There has been fusion. There has also been fission within large groups, but the main cultural feature is the retention of group integrity. This type of social organization made it possible for certain groups to progress while certain other groups became progressively primitive. Although Indias present Constitution has many flaws like separate provision for different castes and creeds, particularly those who are backward and are schedules in the Constitution, the recent industrialization processes and agrarian reforms have brought about a new secular outlook which has given rise to the promotion of a new culture. The new generations of all cases, communities, religions, and sects are getting chance to come together in farms, factories, educational institutions, universities and government bodies for employment. This coming together has caused a blending of different cultures, emanating from difference communities or tribes, under the impact of modernization. Traditional rituals of the older generation are no more in vogue in the new secular communities which are coming up. The unity of interests and attitudes in economic, social and political fields is helping to accelerate the social processes which are giving common values, cultural traits, art forms, arch itecture, music and dramatics. All modern art activity is assimilating the basic cultural values of all tribes, and giving rise to what may be called national culture. However, our national problems lie in inability to distinguish between cultural imperatives and administrative and economic necessities to find out how a nation be built up from the foundation of cultural multiplicity. Each religion preaches purity of character, benevolence and piety along with honesty. Religious books are shown respect and honor by all. The people go on pilgrimage with respect and reverence. There is always devotion in prayers and so on. Basically all religions believed in religious toleration. In this way there is religious unity in the country. In India there is now great cultural unity. Indian philosophy of life, literature, customs and traditions are basically the same. The institutions like those of marriage etc. are found throughout the country. There are certain rituals and sanskaras which are observed throughout the country. Similarly there are many festivals which are celebrated with great zeal and vigor throughout India. We find a kind of emotional unity in the country. The very name of India or Bharat Mata brings us emotionally closer to each other. Though in India there are different languages and each language has its own literature, yet Sanskrit brings all emotionally together. We treat and consider Sanskrit as the mother of all Indian languages and that brings us emotionally together. Permanent elements of Indian culture are: Maximum stress is laid on spirituality and not just on the earning of wealth. Maximum stress has been laid on religion. Dharma or righteousness is promoted. A dharma or injustice should be checked. We are also reminded that even gods take birth as human beings to check the spread of a dharma and kill those who stand in the way of dharma. All along India culture has taught us to follow religious toleration. It implies that every religion must be given an opportunity to observe its ideology and viewpoint. It also means that every other religion must be shown respect for what is good in that. There should be no violence in religious affairs. Capacity to absorb all good cultures should have that capacity. Hinduism comes to the forefront in this respect. It has always either completely absorbed them or largely influenced all cultures. Indian culture is very wide I its approach to every problem. It lays stress on religion, spiritualism and salvation, without ignoring material and married life. It has always said that the people should be led according to Dharma. Stress on freedom of thought and expression, Hindu culture has always believed that culture becomes rich when the people have freedom of expression. Thoughts and expressions will enrich the culture and that will become dynamic. The unity to the desired extent is not achieved as there arise serious hindrances to national unity. Regionalism is not great hindrance. It implies that the region is above the nation. It should only be developed and the people of that region along should be given the benefits of their development. The region should have maximum autonomy in running its own administration. Regionalism should promote love for the region as well as for the nation as a whole. Now coming to the arguments put forth by Ramchandra Guha in his thoughts about India being an unnatural nation , or being a single divided nation. I think he does have enough examples to illustrate the fact that , yes India is a divided nation after all. The main aspect to understand here is , which factor is more overbearing. Nations are made of two things- Memories and Amnesia. The forgotten memories are best buried together by opposing groups and the good memories must be shared and cherished. Only then is kinship born .However, reality is different. Even if some people forget misfortunes, the rest never do. They pass it on to their successors, shaping their minds to avenge it. In India, secularism made its appearance not only as a concomitant of modernity and nationalism but also as an answer to communalism, another mode political with its pretentions to nationalism. The Hindu nationalism was a natural growth from the soil of India Jawaharlal Nehru wrote in the secular, modernist position and Muslim nationalism it inevitably comes in the way of the larger nationalism which rises above differences of religion and creed. While an ideal nation has images, policies and practices and its state continues to be debatable the nation state now has a powerful and tangible material, intellectual and spiritual force. Whenever an independent nation state is established, the connect with nationalism takes a backseat. This is due to the availability of resources for the oppressed, minority or unheard part of the population. Both Gandhi and Nehru believed that the idea of a nation as a singular space. Inspired from thinkers like Leo Tolstoy, Thoreau and Ruskin, Gandhis impeachment of modern civilization was a political project on behalf of India as a nation. An Important historical moment is the round table conference in London 1931-32, held for drawing the constitution for a future independent India. Gandhi went on a fast unto death in protest at Ambedkars attempt to have untouchables recognized as a minority community like the Muslims and Sikhs. This period is of great significance because it reflected the competing ideas about the legitimate place the citizenship of the community and the minority within what it meant to be Indian. Notions of fossilized communities, a majority Hindu population as well as liberal democratic ideals, had existed side by side in India for much of the nineteenth century. Prior to the insidious entry of the British, India was a wealthy nation also known as sone ki chidiya. The garments, the jewels and the food items were in surplus and of extremely good quality. India was imagined to be a prospering entity under rulers. The political instability gave way to British Raj, with the set up of the East India Company. The 200 years of British raj, had new systems introduces in the society like the land revenue system and postal system. These changed the lifestyle of Indians. Although the British did not consider Indians as civilized but the belief was that India is a close-knit nation and so they came up with the system of divide and rule. The much touted Swayamwar (selection of spouse by a princess in an open forum) is indicative of this deficiency and our total disregard for forging unity. Whereas matrimony amongst the royals in the Europe has always been an instrument of forging strategic alliances, Swayamwar invariably created more enemies than friends. All rejected princes and kings felt insulted, nursed a grudge and waited for an opportunity to take revenge to redeem their self-esteem. History bears testimony to the fact that every Swayamwar was followed by acrimony and internecine wars. Reverting to the role of the British, they never divided us to rule, simply because they did not need to. We have always been and continue to be a divided lot. Formation of states on linguistic basis was never attempted by the British. The Mandal Commission was not constituted or implemented by them. Nor was the Babri Masjid demolished by the British. The current agitation in Maharashtra has not been initiated by the East India Company. Caste based reservations and quota system, the prime splitter of the Indian body politic, were not invented by the erstwhile rulers. Nor are they preventing us from enacting a uniform civil code. The list is endless. We have a knack and penchant for generating innovative issues to divide ourselves. We are doing our best to ensure that we remain embroiled in petty bickering and internal dissentions. To us, our region, religion, caste and sub-caste are more important. Worse, we flaunt this narrow identity and give it precedence over nationalism. If after 60 years of independence, Kashmir and the North East are still not emotionally integrated with the country, the failure is ours.  Ã‚   Undoubtedly, the politicians are the fountainhead of all fissiparous tendencies. One does not have to be a visionary to predict the danger of abetting illegal migration from  Bangladesh  for garnering votes. North Indians in Mumbai are not welcome but illegal Bangladeshis can stay. If political leaders can imperil national security for the sake of power, they can stoop to any level. Sadly, they cannot be expected to change as they believe in the ends and not the means employed. To them, vote bank politics preclude letting countrymen stay united. Additionally, spineless and politicized bureaucracy simply follows their dictates and cannot be expected to deliver either. Immense damage is also being inflicted on the unity of the country by the media through its irresponsible and thoughtless reporting. For the sake of cheap sensational news, petty vandals are given the coverage befitting a mass leader. Every news item is reported with a religious, caste or creed slant a dalit girl molested in a Delhi bus (as if other women are not molested in Delhi buses) or church guard killed (in reality an argument between two security guards had turned violent) or Muslim driver runs over a boy (his being a Muslim is of no relevance). Thus I think , With all its problems and troubles, India always finds a way to hold itself together. India now has become extremely mature and practical about things. It does wait for a Cricket World Cup , Or a patriotic Bollywood movie to express its feeling of oneness , but the realization that being together , united , is the only way to progress and prosper has been established. So though I agree with M. Guhas arguments of India not being a single nation , I think thats essentially how India has been and will be. But the truth lies in the fact that we find our won ways to display unity and move ahead in our attempt to progress. India has learned to live with the fact that its a nation full of diversity and the tolerance levels hence created have made sure the diversity camouflages under the spirit of accepted oneness or uniqueness.