Factors that affect the price elasticity of supply

Factors that affect the price elasticity of supply Price elasticity of supply is a useful concept when we consider supply. It is also use to measure the responsiveness supply to a change in price when we are supplying a good. Below is the formula that use to calculate the price elasticity of supply. Price elasticity of supply (PES) = % change in quantity supplied % change in price There are a few factors that affect the price elasticity of supply. The first factor that affects the determinants of price elasticity of supply is the number of producers. If there are a lot of producers, the easier for the industry to increase the output and cause the price increase. For example, according to the law of supply, the price of a good increase, the quantity supplied of the good increase. Thats why when there are a lot of producers, more goods will be produced and caused the price increase. Besides that, another factor that affects the price elasticity of supply is the time factor. Long run is usually more elastic for supply compare with short run. For example, in the long run period the industry can invest more equipment and build more factories. In addition, they can even enter a new market and start a bigger business. However, in the short run, industry cant extend their factory to produce more goods. Besides that, the prices of the goods are not responsive to the price. Therefore, supply is more elastic in the long run. Part B Businesses always use the concept price elasticity to decide on their pricing strategy. The strategy that used by the businesses to decide their price is price elasticity of demand (PED). Price elasticity of demand can be define as the measurement of the rate of response of quantity demanded due to a price change. There is a formula that uses to calculate the price elasticity of demand. The formula is shown in the figure below. The percentage change in price The percentage change in quantity demanded PED = There are many degrees that show in price elasticity of demand. Price elasticity of demand will normally be a negative relationship between quantity demanded. To determine the degree of PED, ignore the negative sign. The first degree that shows in PED is inelastic demand. This is a degree that show the percentage change in quantity demanded is less than the percentage change in price. For example, 20% decrease in price cause a 10% increase in quantity demanded. The value is less than 1 but greater than 0 (0

Authorship debate Essay -- essays research papers

William Shakespeare’s works being just that is a notion most accept; however, there has been a lot of evidence and arguments by historians, who opt to challenge this notion, arguing that Shakespeare was the pen name of Edward de Vere, the Earl of Oxford had to conceal his authorship for social and political reasons. After careful examination of historian’s evidence this theory doesn’t measure up and it was indeed Shakespeare, who was the genuine author. The world has come to accept that William Shakespeare was born in Stratford-upon-Avon, England, during the year of 1564. The register of Holy trinity, the parish church in Stratford, records his baptism on April 26. According to the custom at the time, infants were baptized about three days after their birth. William’s father was a glover, trader, and landowner who married Mary Arden, the daughter of an affluent landowner of Wilmcote. Therefore, the generally accepted date for Shakespeare’s birth is April 23 (World Book 344). John Shakespeare, William’s father rose [by election] to the position of Alderman in 1565; and in 1568 he was elected Bailiff, the equivalent to mayor (Reedy & Kathman). It’s believed that because William’s father was a town official, the young William was entitled to a free education at the Kings school. It has been accepted [for the most part] that William Shakespeare attended the Stratford grammar school. The Stratford gramm ar school prepared students for the university; however there is no evidence that William ever attended a university. The reason being is when William Shakespeare was thirteen his father suffered business losses. William was pulled from school and apprenticed to a trade, not an uncommon occurrence during the Elizabethan Age.   Ã‚  Ã‚  Ã‚  Ã‚  William Shakespeare married Ann Hathaway in November 1582 at the age of eighteen. Anne was twenty-six. It would only be six months later that their daughter, Susanna was born. William also had a set of twins in February 1585. Between the years of 1585-1590, Shakespeare disappeared. We considered these years as his lost years mainly because there has yet to be found any documentation or know whereabouts of him.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  It’s accepted that Shakespeare was in London by 1590 working as an actor and playwright. Approximately for twenty-three years he was a workin... ... died too early to have been the real Shakespeare (Michell 171). Oxford did not leave a will. If he were to have left a will, Oxfordians and Anti-Strafordians would have no doubt have more weight to their theory, that’s if his will contained Shakespeare plays and sonnets. The 17th Earl of Oxford was a recognized poet in his day, and the Oxfordians make the most of this in their attempts to prove that he wrote the works of Shakespeare. There is evidence presented about his reputation in actual context of the times and shows that while Oxford work had some admirers, but don’t all authors have some admirers, nobody seems to have considered him a great poet or playwright. Belief in the Oxfordian story that Shakespeare's works were written not by Shakespeare but by the seventeenth Earl of Oxford requires not merely suspending the rules of evidence that would normally be used to establish the authorship of a body of work, but also accepting a set of Oxfordian myths -- tales that are presented as fact but that research shows are simply not true. Some of these myths have been repeated and handed down from Oxfordian to Oxfordian for decades, without any attempt being made to verify them

Calls for Change in High School Mathematics Essay

Mathematic educators, parents and students are calling for proper changes in approaches to learning mathematics in high schools. The need to improve learning of mathematics in schools is highly recognized and underlined. Thus, the National Council of Teachers of Mathematics published the Curriculum and Evaluation Standards for School Mathematics that offered recommendations for high school mathematics reform. In addition, the Conference Board of the Mathematical Sciences in their official report ‘The Mathematical Sciences Curriculum K–12: What Is Still Fundamental and What Is Not’ stresses the importance of new topics and techniques in the secondary schools. New approaches should develop new learning techniques that would be discrete from statistics, mathematics, and emphasis on algebra and geometry should be properly re-assessed according to different abilities and needs of students who are taking mathematics course in the secondary school and high school respectively. The need for change and innovation is generally driven by emergence of advanced computing technologies that offers excellent opportunities for school educators to replace manipulative traditional techniques with more complex realistic problem-solving techniques. In its turn, the National Science Board Commission issued a report ‘Educating Americans for the 21st Century’ challenging courses in algebra and pre-calculus and stressing the importance of developing integrated mathematical sciences curriculum in the secondary school. Researchers argue that new curriculum will positively affect students’ achievement outcomes in the secondary and high schools. To make changes more effective teachers are required to understand the advantage of curriculum’s full scope and its consequences; students are required to support the expectations of classroom environment. The Core-Plus Mathematic Project is newly developed curriculum for high school mathematics. Of course, the Core-Plus Mathematic Project or CPMP curriculum is a matter of debates and controversies as not everyone admits the need of high school mathematics reforms. Nonetheless, the CPMP curriculum is worked out with assistance of mathematics education researchers, instructional specialists and classroom teachers. Moreover, the curriculum is shaped by empirical evidence gathered from students and teachers who are willing to participate in field testing. In particular, organization of mathematics curriculum should be interpreted in terms of teaching and assessment recommendations and should follow the standards set in the above-mentioned reports. New mathematics curriculum is a three-year mathematics course for high-school students who are allowed to take the fourth year to prepare for college mathematics. Newly designed curriculum differs from more traditional approaches as new curriculum encourages students’ understanding of mathematics – statistics, probability, algebra, geometry, trigonometry and discrete mathematics. Learning mathematics is developed in focused units that combine fundamental ideas with mathematical habits of mind. It means that new curriculum stresses the need to connect function, data analysis and symmetry with recursive and visual thinking. In contrast to traditional approaches to mathematics, new curriculum emphasizes the role of mathematical modeling and problem-solving instead of simple calculus. Researchers say the primary goal of curriculum improvement is to enhance students’ understanding and comprehension of key mathematical processes and concepts, to enhance student’s ability to use mathematical concepts in real-world problem-solving. Graphic calculators should enhance students’ understanding and abilities to solve authentic problems. Improved instructional materials encourage active teaching and learning processes that will primarily focus on problem situations, abstraction and analysis. Oral and written communication, reasoning with ability to represent, and conceptual understanding are highly appreciated and encouraged. All courses centre on mathematical reasoning and thinking with abilities to develop formal proof. Additional fourth year course will allow to keep students, who prepare for college mathematics, despite whether their undergraduate program is based on calculus. Students interested in mathematics are encouraged to be accelerated into the fourth course year. Today, many researches are focus on identifying whether new curriculum meets its specific goals. In particular, they try to reveal whether the learning outcomes based on new patterns of mathematics learning process differ from outcomes based on more traditional curriculum. During the past eight years researchers conducted various studies to examine mathematical achievement in classroom with CPMP curricula. Research studies have revealed that performance of CPMP students is much better than that of students with traditional interpretation of mathematical representation. It means that problem-solving and recursive thinking appear to be more effective in learning mathematics than simple understanding of key concepts of processes. Further, CPMP students are characterized by higher grade results at the end of the years than students with traditional approach to mathematics. Summing up, recent researches have indicated that CPMP students perform better than students with traditional curriculum. CPMP students are characterized by better abilities to interpret mathematical representation and calculation, to measure conceptual understanding and to recognize the importance of problem-solving. CPMP students are better in probability and statistics, algebraic manipulative skills, etc. Nonetheless, researchers argue that student’s success in college mathematics doesn’t fully depend on CPMP curriculum. Other factors, as, for example, student’s attentiveness, readiness to participate in learning process, self-awareness, classroom environment, play their important role in student’s high school mathematics performance. With guidance from educators, researchers and teachers, curriculum developers will be able to build on stronger patters of student outcomes. References Schoen, H. L. , & Hirsch, Ch. R. (2003). Responding to Calls for Change in High School Mathematics: Implications for Collegiate Mathematics. The Mathematical Association of America Monthly, February, pp. 109-123. Available on-line from http://www. jstor. org/stable/3647770 .

Leo Soul Mates Scorpions Essays

Leo Soul Mates Scorpions Essays Leo Soul Mates Scorpions Essay Leo Soul Mates Scorpions Essay The beauty of a Scorpio woman is exceptional, mysterious and totally magnetic. She knows that and is proud of herself. She will control her wish to dominate and will let a man lead in a relationship, atleast during courtship. She knows how to hypnotize a man and gets successful, more often than not. Dont expect a Scorpio female to rush into your arms in front of a thousand people and shout her feelings at the top of her voice. Instead, she will come close to you, glance at you in a sensual way and whisper the most romantic words in a seductive tone. If you are not sincere with your feelings, dont even try to get close to a Scorpio girl. With those beautiful, penetrating eyes of hers, she can read exactly what is on your mind. She can easily make out your real intentions, so Dont Flirt. It will amount to insulting her and I assure you, insulting her is not at all good for your health. Even when her tone is soothing, her disposition kind and her smile generous, she can be planning the most powerful retaliation. When a Scorpio woman is insulted or gets hurt, her fury knows no bounds. Then, she can become the most hard-hearted and most sarcastic person on this earth. If she loves with fierce devotion, she hates with devastating malice. If you are really in love with her, then you need to know more about her. She has a very hypnotic gaze and the moment her eyes meet your, you will go tumbling down in her deep passion. Being noticed by a Scorpio female definitely gives a boost to a mans ego. She needs a man who is stronger than she is and weakness in him wont get her sympathy at all. He will be expected to behave like a real man, who can dominate her and make her proud. At the same time, he should respect her individuality. He should be better looking than average, with an intellect, philosophical and totally masculine. He must also be ambitious and able to handle tough situation with poise. After she gets committed, a Scorpio female will shower you with all her love and attention. Her whole life will start revolving around you and she will be extremely loyal and exceedingly passionate. She is passionate with everything that is related to her. It is almost impossible for her to have neutral feelings. Either she will deeply cherish or fiercely hate. If any of the feelings are not experienced, she will become completely indifferent towards it. Scorpio women, however, never let these feelings show. Her expression will always remain neutral, betraying nothing. Her anger is very bad and its better to get out of her way when it gets out of hand. Her characteristics profile will make her storehouse of secrets, but people wouldnt know any of hers. Her personal life will be out of bounds for everyone. At the same time, she will never tell the secrets that have been confided in her, not even to you. Even with you, she will have a private part and its better not to pry. That does not mean she is dishonest. Infact, she will be so brutally honest that, at times, she may hurt people in the process. Like a typical Scorpio, she will choose her friends very carefully and the credible ones will remain with her throughout her life. She will never maintain a relationship with unworthy people. Determination and will power are her basic personality traits. She can use them anytime to come out of anything that is negative. If you have been able to win the true love of a Scorpio female, you can be sure you will never feel lonely again. She will be totally devoted to you and even if you two dont get married for any reasons beyond your control, her love for you will not change. She is one of those who believe in the phrase Till Death Do Us Apart. Rather than overshadowing her husband, she believes in supporting him. Behind every successful man, there is a woman; this idiom is perfect in case of the husband who has a Scorpio wife. For her, the future, the happiness and the dreams of her husband hold the supreme importance. She will always defend him fiercely in public and wont take nicely to anyone taking advantage of him. She will always encourage him to reach for the stars, build his courage and never let him turn back from midway. Scorpio women love their homes and keep them spic and span. Now comes the dangerous part. A Scorpio girl is extremely jealous and fiercely possessive of her loved ones. She is prone to suspicions; so dont give reasons to be doubtful of you. On the other hand, you will have to control your jealousy, since she will be attracting a lot of members of the opposite sex. She also dislikes being possessed by anyone, including you. In such a scenario, just remember that a Scorpio woman will always be loyal and devoted to you, even in the worst of circumstances. And then, you know you cannot leave her and it is better to adjust to such a trifle thing. Nobody walks away from a Scorpio, right? As far as money is concerned, she will enjoy it whether she saves it in a piggy bank or splurges it on luxurious things. She is very conscious of her social standards and will never compromise in case of status. She likes power and will sacrifice money and many other things for it. She seems to be very practical, but inside she is very emotional. Like all Scorpios, she will not see any viewpoint in case of her own emotions. A Scorpio female has a sense of fairness and justice. If you dont wish her good morning one day after a fight, she will do the same for the next four days. The same goes for generosity also. If you do one kind deed for her, she will do four in return. As a mother, she will extremely possessive of her children and will care for them. However, she may not express her love openly and this is something you will have to teach her. She will make them independent, fair, strong and proud of themselves, the way she is of them. She will encourage them to develop their innate talents and make sure they dont go unnoticed. A Scorpio woman can drown you in her passion. But then, she can also bring you to safety when the raft becomes too dicey. She can provide you her calm and steady support in the worst of circumstances. Once you win her love, you will never be lonely again. Your food will be perfectly baked and she will grind fresh coffee for you. You will always come back to a spotless home, radiating with the aura of her magnetic personality, the charm of her deep beauty and the warmth of her everlasting love!

Bryans major role in the 1896 presidential election essays

Bryan's major role in the 1896 presidential election essays William Jennings Bryan was a radical, highly recognized and often criticized candidate representing the democratic and people's party in the election of 1896. His major role during the 1896 election was that of representative of the common people. Bryan argued for the benefit of all men as equals, whether farmers, laborers, urban or rural professionals, black or white, his interests lie in the common good of all. Bryan advocated for a government that would truly serve the people, and not just specific "causes" or premises. His strongest platform was support of a monetary move from a gold standard to a dual monetary system where gold and silver backed the American dollar. His ideas were supported by many, but his methods were considered non-mainstream and he was often criticized for his unconventional methods. Bryan was unpopular on many levels because he took a very loud and active stand on many issues that were controversial and somewhat unpopular. Some of his issues included support for amendments that would establish prohibition and women's suffrage (CHI, 2003). He also encouraged the establishment of a Department of Labor, and was working on reforming currency issues (CHI, 2003). The currency issue became the biggest source of unrest during his political campaign. Many referred to him as a commoner because he tirelessly strove to protect the interests of farmers and laborers. He sought to support agriculture which was facing decline in the face of industrialism and increased manufacturing influence (CHI, 2003). He is most well known for his cross of gold speech, which represents his tireless support for a bi-monetary currency standard that supported gold and silver. Bryan was at best a controversial, but well known and supported figure during the 1896 election. He was beat by his republican opponent at the time, McKinley, however Bryan continued to advocate for his i...

A Particular Place of Residence of a Person Research Paper

A Particular Place of Residence of a Person - Research Paper Example The process of area classification is done through the clustering or grouping of geographical units by the use of particular methods. Cluster analysis borrows largely from clustering algorithms but is instead much more than the mere grouping of the objects. Therefore, to successfully run a cluster analysis will require a series of particular steps, which involve multiple decisions across all the stages. At this point, there is no wrong or right answer to most of the decisions that are made in the process. Every decision in the stages will, therefore, give its own alternative results. As a result, the different decisions gathered could be appropriate or not appropriate depending on the classification that is to be created. There are seven steps involved a successful running of the cluster analysis. Each step in the framework represents a very important decision point that is imperative for the smooth running of the cluster analysis (Harris and Webber, 2005). It is suggested that the u ser of the method should be in a position to correctly recognize all the important and critical decisions involved and their individual influences on the results (Everett and Leese, 2001). At this point, it becomes important to clearly distinguish between the conventional cluster analysis and the clustering method. Clustering method connotes the simple process by which the clusters are actually formed (Everett and Leese, 2001). On the other hand, cluster analysis is much elaborate and implies the wider series of steps that have to be followed in order to finish the whole analysis.

Level of Unemployment in UK Essay Example | Topics and Well Written Essays - 1500 words

Level of Unemployment in UK - Essay Example This change will lead to a change in standards for living while supporting different needs for individuals. The basic definition of unemployment is when an individual doesn’t have a job and is nonworking. This definition leads the individual into a specific status that defines them as unemployed because they don’t hold a regular job and have inactivity in terms of finding a job. However, there are different measurements that are used for the unemployed because of the level of activity that is defined as well as the conditions in which different individuals are under. When looking at the overall idea of unemployment, it is defined by including anyone who is not performing a series of activities in the labor field or through a job. However, there are different levels that are included in this, specifically which is measured by the frequency in which one is unemployed as well as the basic structure that they rely on to receive monetary needs over a period of time (Brandolini, et al, 153, 2006). The structure of unemployment through the basic definition is defined by measurements that determine the frequency in which an individual is out of a job. This is defined first by an unemployment cell, which is divided by the amount of time one is out of a job as well as the frequency in which this occurs. This is also measured through the region in which one is in, specifically because it provides a comparison in the economic levels and demands for employment. The first measurement is known as seasonal unemployment, in which demands change based on labor intensive markets for each time frame. Most levels of employment that are offered seasonally include outdoor jobs and labor intensive options. The second type of unemployment is frictional, also referred to as demand – deficient unemployment. When the economy begins to emerge, temporary employment becomes available. This