Monopoly †micro Economics Essay

Monopoly is a market structure in which there is a single seller, there are no close substitutes for the commodity it produces and there are barriers to entry in same industry. Characteristics of Monopoly †¢Single Seller: There is only one seller; he can control either price or supply of his product. But he cannot control demand for the product, as there are many buyers. †¢No close Substitutes: there are any close substitutes for the product. The buyers have no alternatives or choice. Either they have to buy the product or go without it. †¢Price: The monopolist has control over the supply so as to increase the price. Sometimes he may adopt price discrimination. He may fix different prices for different sets of consumers. A monopolist can either fix the price or quantity of output; but he cannot do both, at the same time. †¢No Entry: there is any freedom to other producers to enter the market as the monopolist is enjoying monopoly power. There are strong barriers for new firms to enter. There are legal, technological, economic and natural obstacles, which may block the entry of new producers. †¢Firm and Industry: Under monopoly, there is no difference between a firm and an industry. As there is only one firm, that single firm constitutes the whole industry. Causes for Monopoly †¢Natural: A monopoly may arise on account of some natural causes. Some minerals are available only in certain regions. For example, South Africa has the monopoly of diamonds; nickel in the world is mostly available in Canada and oil in Middle East. This is natural monopoly. †¢Technical: Monopoly power may be enjoyed due to technical reasons. A firm may have control over raw materials, technical knowledge, special know-how, scientific secrets and formula that enable a monopolist to produce a commodity. e. g. , Coco Cola. †¢Legal: Monopoly power is achieved through patent rights, copyright and trade marks by the producers. This is called legal monopoly. †¢Large Amount of Capital: The manufacture of some goods requires a large amount of capital or lumpiness of capital. All firms cannot enter the field because they cannot afford to invest such a large amount of capital. This may give rise to monopoly. For example, iron and steel industry, railways, etc. †¢State: Government will have the sole right of producing and selling some goods. They are State monopolies. For example, we have public utilities like electricity and railways. These public utilities are undertaken by the State. Examples of Monopoly in Market In today’s Market monopoly does not exist today there is cut throat competition in all the fields but still there are few industries which have monopoly those are mentioned below. †¢Indian Railways †¢Airlines in India till liberalization. †¢OPEC ( A Group of Oil producing countries come together to form a organization and rule market) †¢Microsoft (An Information Technology Firm) †¢Monopoly can also exist within Pharmaceutical companies where when one gets patent rights they are the only company producing the medicine and no one else can produce. Here above we saw example of Microsoft. Microsoft is a company that produces Operating System for computers which is the only graphical user interface between machine and human. There are other companies also like MAC. But as per patent they only work for Apple. Where as all other computer manufacturer are left with only option as Microsoft and its product. This is how Microsoft is under Monopolistic Condition and Market circumstances. And above mentioned all the characteristic can also be related to the example of monopoly. Today we have seen that Microsoft is a multi Billion Dollar Multinational company. This has grown over a period of time just because of its monopoly and very less competitors. This tells us the Different ways by which a monopoly power of the company can grow. And company can make very good amount of profits.

5 Disadvantages of Bad Time Management

5 Disadvantages of Bad Time Management Poor planning and bad time management are often part of the learning experience for many new students in college. For others, however, poor planning becomes a habit. The consequences of putting that paper off, not turning in your work on time, and missing key deadlines, however, can be much more of a problem than you might initially think. Things May Get Expensive If you miss housing deadlines, incur late registration fees, or apply too late to get priority when your school is allocating financial aid, things can quickly become even more expensive than normal. Having good time management skills can help you avoid costly mistakes later. Things Can Become Harder Logistically If you think studying for your Spanish final is a pain in the brain, wait until you see what happens if you dont pass it/sleep through it/generally dont plan for it. You May Miss out on Opportunities Because You're Too Late That amazing study abroad program, Spring Break trip, and summer internship all have deadlines for a reason. If you apply too late or dont have everything you need ready in time, youll miss out on what could have been the experience of a lifetime. You May Miss out on Opportunities Because People Notice Your Pattern of Lateness and Disorganization People who you think dont notice your frequent lack of planning and lateness may, in fact, notice more than you realize. When your favorite professor is trying to think of students for an awesome summer research gig, you might get passed over because she knows you wont have your stuff together when needed. Keeping your schedule balanced and your time managed may open doors you dont even realize are there. You Will Always Feel Behind Not sure if you have poor planning skills? Ask yourself to remember the last time you felt ahead of the game. If it wasnt recently, chances are youre constantly feeling behind- because you are. Bad time management skills mean you are always playing catch-up and experiencing stress. And with all thats going on in your college life, why add more stress to the mix?

How To Use the Common Spanish Verb ‘Tener’

How To Use the Common Spanish Verb ‘Tener’ The everyday Spanish verb tener, usually translated as to have, is particularly useful. Not only is it used to indicate possession, it is also used in a variety of idiomatic expressions to indicate emotions or states of being. Note that when tener means to have, it does so in the sense of meaning to possess or to own. The equivalent of the English auxiliary verb to have, as in you have seen, is haber (as in has visto, you have seen). Using Tener To Mean ‘To Have Most of the time, tener is used in much the same way as to have is in English. Depending on the context, it can also be translated using using synonyms such as to possess and to own: Tengo tres hijos. (I have three children.)Tiene un coche casi nuevo con una garantà ­a fuerte. (He owns an almost new car with a strong guarantee.)Antes de la guerra, tenà ­a tres casas. (Before the war, she possessed three houses.)Tuvimos cuatro campeones en el mismo momento. (We had four champions at the same time.)En 2016 Paulina no tenà ­a carnà © de conducir. (In 2016 Paulina didnt have a drivers license.)No tenemos suficientes bosques en el planeta. (We dont have enough forests on our planet.) ¿Crees que tendremos una mujer presidente? (Do you believe we will have a female president?) Tener can similar be used similarly as to have even when it is used figuratively or referring to nonphysical things: Espero que tengas una buena excusa. (I hope you have a good excuse.)Mi amigo tiene dificultad para pronunciar las palabras espaà ±olas. (My friend has difficulty in pronouncing Spanish words.)Cada là ­der debe tener una visià ³n de lo que podrà ­a ser. (Every leader should have a vision of what could be.) Idiomatic Uses of Tener Expressions using tener are also quite common. Many of them would not be understood by English speakers to indicate possession, although they often can be thought of as referring to to the having of various emotions and feelings. For example, tener hambre, would be translated literally as to have hunger, although it would normally be understood as to be hungry. The following listing, which is far from complete, shows some of the common expressions or idioms using tener: tener ____ aà ±os (to be ____ years old): (Tiene 4 aà ±os. She is 4 years old.)no tener antecedentes (to be unprecedented): La crisis venezolana no tiene antecedentes. (The Venezuelan crisis is unprecedented.)no tener arreglo (to be beyond repair): Siento que esta semana no tiene arreglo. (I feel this week is beyond repair.)tener calor (to be or to feel hot):  ¿Tienes calor? (Are you hot?)tener cuidado (to be careful):  ¡Ten cuidado! (Be careful!)tener dolor (to have a pain, to be in pain): Hay muchos excelentes remedios para dolor de cabeza. (There are many excellent remedies for a headache.)tener la culpa (to be at fault): Mi madre dice que tengo la culpa. (My mother says its my fault.)tener efecto (to have an effect, to be in effect):  La patente dejà ³ de tener efecto antes de que el dispositivo comenzara a ser utilizado a gran escala. (The patent went out of effect before the device began to be used on a large scale.)tener à ©xito (to be successful): Mi hermano tiene m ucho à ©xito. (My brother is very successful.) tener frà ­o (to be or feel cold): Los exploradores tendrn frà ­o. (The explorers will be cold.)tener hambre (to be hungry): Los nià ±os siempre tienen hambre. (The children are always hungry.)tenerlo fcil (to have it easy): Los dos equipos no lo tienen fcil. (The two teams dont have it easy.)tener miedo (to be afraid): El paracaidista no tenà ­a miedo. (The parachute jumper wasnt afraid.)tener prisa (to be in a hurry): Mi hija nunca tiene prisa. (My daughter is never in a hurry.)tener que infinitive (to have to): Tengo que salir. (I have to leave.)tener razà ³n, no tener razà ³n (to be right, to be wrong): Tengo razà ³n. No tienes razà ³n. (Im right. Youre wrong.)tener sed (to be thirsty): El camello no tiene sed. (The camel isnt thirsty.)tener suerte (to be lucky): Los ganadores tenà ­an suerte. (The winners were lucky.) Conjugation of Tener Like many other commonly used verbs, tener is irregular. Following are the conjugations for the most common indicative tenses. Irregular conjugations are indicated by boldface. The only other verbs that follow the same conjugation pattern as tener are verbs based on tener, such as mantener (to maintain) and sostener (to sustain). Note that these verb forms can be translated in other ways if the context calls for it. Present tense: yo tengo (I have), tà º tienes (you have), à ©l/ella/usted tiene (he/she has, you have), nosotros tenemos (we have), vosotros tenà ©is (you have), ellos/ustedes tienen (they/you have).Preterite tense: yo tuve (I had), tà º tuviste (you had), à ©l/ella/usted tuvo (he/she/you had), nosotros tuvimos (we had), vosotros tuvisteis (you have), ellos/ustedes tuvieron (they/you have).Imperfect tense: yo tenà ­a (I used to have), tà º tenà ­as (you used to have), à ©l/ella/usted tenà ­a (he/she/you used to have), nosotros tenà ­amos (we used to have), vosotros tenà ­ais (you used to have), ellos/ustedes tenà ­an (they/you used to have).Future tense: yo tendrà © (I will have), tà º tendrs (you will have), à ©l/ella/usted tendr (he/she/you will have), nosotros tendremos (we will have), vosotros tendrà ©is (you will have), ellos/ustedes tendrn (they/you will have). Key Takeaways Tener usually means to have in the sense of to possess, but not have when it is used as an auxiliary verb.Tener is highly irregular, not using the same conjugation as any other verb other than those that derive from tener.A wide variety of phrases use tener in which it frequently is used for indicating emotions and various personal feelings.

Customer Service- Project- Sandford Health of North Dakota Assignment

Customer Service- Project- Sandford Health of North Dakota - Assignment Example its patient’s sufficient expert medical care as it is currently one of the health care institutions with a leading edge in technologies and up to date facilities of the excellent status. With its headquarter on a 500-bed Sanford USD Medical Center in Sioux falls, South Dakota  (Sanford Health, n.d), the institution also operates a number of health care facilities across the United States of America, including two dozen hospitals and other clinics, more than 130 in number with their locations in North Dakota, South Dakota, Iowa, Minnesota, Nebraska, and Oklahoma. Sanford Health has over the years excelled in its approach to the provision of health care services to its customers through the enhancement of its clinical care, research approaches, which work towards the establishment of new and  more  innovative approaches  for the  treatment and cure of the common diseases affecting members of the communities and the world at large. The hospital currently offers pediatric intensive care services, level-two trauma center, air transport services, women and children’s orthopedics, cancer and heart centers. Ideally, with services, Sanford Health remains the busiest health care facility in North Dakota, where it also offers individual insurance to the patients from the community (Sanford Health, n.d). For the provision of high quality  service to customers, every organization must have an outstanding management system that would works to bridge the gap between quality service and the patients. Sanford Health has put in place a very organized management that works to spearhead the day today running of the institution. The management has also developed a strong and established customer service department, which ensures that all the clients are served diligently. Such an aspect is of significant importance as it plays an integral role in connecting the organization to the esteemed diverse clientele. To achieve the highest  working  standards in the customer service

Academic describe your hometown Dalian, the city of China Essay

Academic describe your hometown Dalian, the city of China - Essay Example However, the region was converted into a small town-center after Sino-Japanese War controlled by both Russian and the Japanese. As such, the town underwent further several developments and became fully operational with modern port facilities in 1984. Since then, Dalian was pronounce a Chinese open city and awarded a provincial level to take up decision-making authority leading to the current Dalian port city. Owing to the strategic location of Dalian, the City is associated with an exemplary prosperity and unique cultural heritage. Firstly, the city is characterized by numerous museums for example Waxwork that has gained tremendous popularity across the world. Secondly, the city of Dalian is also open to the elements of foreign influence such as architectural designs. A typical example is the Zhongshan Square that has been constructed through a combination of varied international cultures. Besides, the town authorities have also been engaged in construction of city squares that are equipped with musical instruments in praise of Dalian culture. Ultimately, the city is emerging as one of the biggest garments manufacturing centers and has a well-developed football champion that have immensely contributed towards the development of Dalian progressive

MANAGING INNOVATION AND ENTREPRENEURSHIP (Take home exam) Essay

MANAGING INNOVATION AND ENTREPRENEURSHIP (Take home exam) - Essay Example If these are not that effective, then entrepreneurs must have stopped using them for years. According to Porter’s five forces model, there are potential entrants that are able to play as relevant industry competitors. These new entrants are also capable of forming innovation and even imitation. China for instance is known for its low-cost products that at some point similar to existing offerings, which makes imitation not that impossible to take place. Thus, it would make sense that in order to prevent others from imitating a product; barriers to potential entrants should be made. According to Porter, barriers to entry includes economies of scale, product differentiation, capital requirements, switching costs, access to distribution channels, cost disadvantages independent of scale and government policy. We have been immersed mostly in the concepts of economies of scale and product differentiation so I would like to focus on these two as important barriers to innovation, as based on Porter’s five forces model. The economies of scale would force the entrant to face two undesirable options: come in at large scale and risk strong reaction from existing firms; choose small scale and accept cost disadvantage. In either of these choices, a new entrant needs to take the risk of losing his chance to successfully penetrate into the market. The other potential barrier to new entrant is product differentiation. Firms that already have brand identification and customer loyalties are hard to beat. Therefore, firms should therefore increase advertising, customer service, product differences and be the first into the industry in order to prevent potential entrants. Product differentiation therefore could at some point be highly associated with economies of learning, production techniques, production design and more, just to be able to create one-of-a-kind product that could bring competitive advantage and

Healthcare policy and Health Care Essay Example | Topics and Well Written Essays - 1000 words

Healthcare policy and Health Care - Essay Example   Provided that every insurer is given the option to choose between public and private hospitals, the allocation of doctors might be affected because of the differences in professional fees and other benefits provided only if employed in private institutions. Increase subsidy in private insurance providers encourages those who were previously self-sustained to opt for these insurances instead.  Ã‚  Provided that every insurer is given the option to choose between public and private hospitals, the allocation of doctors might be affected because of the differences in professional fees and other benefits provided only if employed in private institutions. Increase subsidy in private insurance providers encourages those who were previously self-sustained to opt for these insurances instead.   Those in the healthcare industry are in an open-handed type of work. It is characterized by the increase in the demand which results in an increase of the number of hours spent for work. Relate d to the previously cited problem, this is a result of the unequal distribution of the professionals among public and private hospitals. In the context of policy issues, this distribution is brought about by the migration of professionals from the public to private hospitals because of the mentioned inefficiency in government structures such as the prevalence of bureaucracy within the system itself.   In a personal milieu, these professionals feel undervalued and may even result in quitting the job for failure to meet personal satisfaction.  The principle of a sound health care plan is best achieved with equity of the foundation that attending to the health concerns of a nation is indispensable to its growth. Assimilation of health in various social factors such as education and finance develops into a workable scheme in order to provide an environment wherein people belonging to any social status are given access to health care.  ... Textual analysis was first employed by looking at the possible provisions on healthcare in their Constitution. It was found out that there are several changes and alterations of their Constitution hence its effects to the health care policies were examined. There were also examinations on the synchronicity level or the coexistence of these health care policies in the past and the present – a closer assessment at what connects both phenomena in time. Documentary evidence will be collected in order to elucidate on the policies and laws of the Australian federal government and the state at particular points in its history. To collate it with the aims and objectives of the succeeding parts, it is important that the research focuses on the institutional factors representing that particular stage and its ramifications to the present. Core Australian healthcare policies and how it influence public health outcomes The Australian healthcare policy is divided into three categories; a) t he Medicare, b) non-Medicare, and c) privately-financed health care services. The Medicare is the application of the health care policies based on standards set by the federal government and the state of which both share the responsibility for its administration and financing. This covers pharmaceutical benefits and for in-patient and medical insurances. The second is largely public financing without applications of national standards. And the last constitutes other private professional services such as physical therapy, physiotherapy and dental care. Positive outcomes and effects of the policy 1. The delineation of public policy proved effective as it clearly shows the role of the federal government and the state on every portion. As a result, in the 2000