Should Tertiary Education Be Compulsory in Hong Kong?

Should Tertiary Education Be Compulsory in Hong Kong? Instruction and Hong Kong Limited Topic: â€Å"Tertiary instruction ought to be obligatory for all understudies in Hong Kong.† To what degree do you concur with this view? The development of obligatory training, which incorporates preschool instruction and tertiary instruction, in Hong Kong has been a dubious theme in the previous hardly any years. As businesses requires their groups has advanced education capabilities these days, itgaveriseto a conversation about the promotion of tertiary training. Tertiary instruction have assumed a significant job for adolescents to find their enthusiasm for future vocation and being as image of a ‘ticket’ to the privileged. It is said that expansion of obligatory instruction could guarantee the fairness of chance and uplift the levels in alternate point of view. In any case, it has been contended that tertiary instruction could scarcely relieve the issue of talented work lack in Hong Kong. To a huge degree, I concur with the announcement. This article will examine both for and against side of the tertiary instruction being as a feature of the mandatory. Tertiary instruction alludes to all post-auxiliary training, including yet not restricted to colleges, similar to specialized preparing foundations, junior colleges, research labs and the sky is the limit from there (World Bank Group, 2013). Mandatory training is all around acknowledged as fundamental human rights yet when the inquiry prompts the augmentation to tertiary instruction, individuals consistently question the essential of the development. As per the Universal Declaration of Human Rights, Article 26, ‘Technical and expert training will be made commonly accessible and advanced education will be similarly open to all based on merit.’ This demonstrates tertiary instruction is a piece of the human rights that could guarantee the uniformity of chance for everybody. It could shape a linkage of organizations that help the production of the higher-request limit fundamental for advancement. Since Hong Kong’s Gino Coefficient has reached to 0.537 (Census and Stat istics Department andSocial Welfare Department, 2011), numerous understudies couldn't manage the cost of the educational cost for schools. These students, who don't secure any claims to fame, would secure some low installment position and their social versatility is constrained. Indeed, even in a similar age, their intra-generational social versatility is likewise individually not exactly the others on account of the lower training capability. An endless loop could be framed that they remain being as the base class of the general public. It is out of line to the resident since us all could have the proportional possibilities. The chance of getting tertiary instruction will be equivalent, regardless of the resident is well off or poor. Tertiary training isn't just piece of the human rights, yet additionally could elevate the level on various viewpoint in the general public. In the business viewpoint, Mundial (2003) referenced that tertiary instructions conventional character could be to create understudies for work through the transference of information and by giving fundamental examination and preparing to representatives and supporting the continued extension of information. It results progressively taught and beneficial work power. Urban communities with extraordinary measures of scholarly alumni usually have upper positions of advancement and efficiency development (Tejvan P., 2014). Also, in the administration side, tertiary training consolidate noteworthy commitments to society, with cutting edge instruction works ordinarily settling more assessment. Graduate degree’s proprietors are additionally less inclined to rely upon open help programs. As indicated by Brookings Institution’s Hamilton Pro ject (Greenstone and Looney, 2011), it shows just 2% living in family units that depend on Supplemental Nutritional Assistance Program (SNAP) government aides, break down with 12% of auxiliary school graduates. Other than higher commitments, advancement of tertiary training could build the city’s financial intensity. Tertiary instruction is a principle driver of financial commitments in step by step more information headed to overall economy. It has made propelled level of tertiary training increasingly irreplaceable. The basic for this urban areas is to raise more significant level employer’s abilities, to continue a globally serious exploration base and to expand learning spread to the propelled society (OECD, 2008). Despite what might be expected, it is talked about that tertiary training improbable to relieve the issue of gifted work lack in Hong Kong. The Robert Half Workplace Survey (2010) uncovers that 61% of businesses studied in Hong Kong watched an abilities lack of center administration laborers followed by junior level (23%) and senior or executive level team (15%), which incorporates specialized and deals parts, inspire customer connections, PC and online life aptitudes. This suggests absence of specialized abilities work has become a major issue to the workforce. Along these lines, it is questioned that the extension of mandatory instruction couldn't lessen the issue since it could just expand the proportion of advanced education understudies. By and by, I can't help contradicting this assessment. There could be shifts of specific strategies preparing in the tertiary training. For example,Vocational Training Council (VTC) shows useful, employment instruction and preparing to students, which give labor supports to businesses to their turn of events. Tertiary instruction alludes to colleges, yet additionally specialized preparing foundations. Extensively, gifted preparing isn't adequate in Hong Kong now. In the event that the tertiary instruction become some portion of the mandatory training, stretch out of handy preparing is essential for the manageability of the activity advertise. Accordingly, the promotion of tertiary training could presumably improve the work lack issue. Tertiary training could be a piece of the obligatory in light of the fact that the chance of getting instruction, which incorporates tertiary training, will be equivalent as it is a piece of the human right and the advocacy of tertiary training would uplift the level in various viewpoint, as monetary, industry and government. Be that as it may, it has been examined that the issue of talented work lack couldn't be relieve except if there is an expansion of tertiary instruction. Mulling over, tertiary training could pass on much focal points to the network and build up a flawless society. References Gathering, U. G. (1948). Widespread announcement of human rights.Resolution embraced by the General Assembly,10(12). Enumeration and Statistics Department and Social Welfare Department. (2011).Census and Statistics Department and Social Welfare Department Greenstone and Looney, (2011).Brookings Institution’s Hamilton Project Mundial, B. (2003). Tertiary Education in Colombia: Paving the Way for Reform.Washington DC. OECD (2008). Tertiary Education for the Knowledge Society: VOLUME 2: Special highlights: Equity, Innovation, Labor Market, Internationalization Pettinger, T. P. (2014, March 3). Should University Education be Free?.Economics Help. Robert Half Workplace Survey. (2010, September 8).Robert Half Tertiary Education (Higher Education). (2013).World Bank Group Professional Training Council,Corporate Information of VTC. Recovered March 29, 2015 from http://www.vtc.edu.hk/html/en/about/corp_info.html

Platos Reflection on Metaphysics free essay sample

A mix of the Greek word, meta, which means â€Å"after,† â€Å"beyond,† â€Å"along with,† â€Å"among,† and â€Å"behind,† and the Latin expression, physica, that just methods the study of issue and physical properties. Savants allude to this term to guess about the various components of the world where we live and the world that really exists. One of the most noticeable savants is Plato, who set the establishment for some cutting edge rationalists on their point of view of reality through explanation. Plato put stock in two separate real factors; the physical and the irrelevant. He asserted that a partitioning line existed between the two universes, and the unimportant or clear is of more significance in the revelation of truth than the physical properties of our reality. Involved impalpable properties yet that can be seen through rationale, the unimportant world is getting a handle on the purpose for the possibility of an article and isolating those components from the subject. We will compose a custom paper test on Platos Reflection on Metaphysics or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Plato elucidates the physical world as anything or articles that is distinguished by one of our five detects. Inside the physical world are two subsets, picture and unmistakable item. Picture alludes to the shadow or impression of the picture. What's more, the physical item is clear as crystal; the article recognized by contact, taste, smell, or sight. Albeit principally separated, the two universes can't exist without one another and the information that relates to both. For instance, Plato uses a ball as the subject to shape a similarity of the cooperation between the two real factors. From youth, we are instructed that a ball is a ball dependent on others discernment and information on it; not our unique idea. The ball exists in the realm of appearances, physical. Be that as it may, its elusive properties, for example, roundness, exist on an equal plane. Plato portrays that plane as the universe of Forms. With an end goal to additionally illuminate us, Plato sets rules for the properties to structures. To start with, structures are objective; thoughts exist through explanation and not experiential. Articles that we see are dependent upon our encounters and verbal affirmation of the item and not the real point of view of the item. Accordingly, one can gather that our faculties are isleading, and the truth wherein we live is not the same as others and the genuine reality. Next, structures are otherworldly. The property stays valid notwithstanding existence. Third, structures are interminable. As previously mentioned, Plato accepts structures are constant; genuine idea driving an article is perpetual, redness. The structure is discrete from our abstract picture. Genuine understanding lies in independently investigating each different structure that involves the item and recognizes it as what we see it as. Forward, structures are models; most genuine substance of a plan to which an article duplicates the structure and consolidates it with different components to make a replicated rendition of an example of the structure. Fifth, structures are scholarly species; must be resolved through explanation isolating the being from the article. Ultimately, structures are flawlessness. In its most perfect express, a structure is a solitary substance. A material item gathers bits of structures and its flawlessness making the article itself unclean. A material item can't be immaculate in its reality since it is nevertheless an impersonation of a few structures that solitary alone are great. Plato’s idea of the real world or the synchronous presence of the two truths are, best case scenario interesting and deserving of investigating. Be that as it may, as he himself expressed, we can never come in direct contact with the irrelevant world. In this way, by what method can genuine information be gained or learned? By and by, it isn't until we are no longer piece of this world that we may at last find reality behind this tremendous universe and the world or universes in which we dwell.

Purple Drank Myths, Effects, Risks, and How to Get Help

Purple Drank Myths, Effects, Risks, and How to Get Help Addiction Drug Use Print What to Know About Purple Drank Use By Naveed Saleh, MD, MS twitter linkedin Naveed Saleh, MD, MS, is a medical writer and editor covering new treatments and trending health news. Learn about our editorial policy Naveed Saleh, MD, MS Medically reviewed by Medically reviewed by Steven Gans, MD on August 29, 2019 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD on August 29, 2019 Douglas Sacha / Getty Images More in Addiction Drug Use Cocaine Heroin Marijuana Meth Ecstasy/MDMA Hallucinogens Opioids Prescription Medications Alcohol Use Addictive Behaviors Nicotine Use Coping and Recovery In This Article Table of Contents Expand What Does Purple Drank Do? Common Side Effects Signs of Use Myths & Common Questions Addiction & Withdrawal How to Get Help View All Back To Top Purple drank is the moniker given to the recreational drug that is created by mixing large doses of prescription cough syrup (most commonly promethazine-codeine products, which are classically a deep purple color) with a carbonated soft drink and hard candy.?? Today, cough medicines with codeine are classified as Schedule V drugs, making them legal only with a prescription. With the emergence of dangerous drug cocktails like purple drank in the 1990s, however, the potential for misuse was brought into the spotlight. Purple drank has been responsible for the hospitalization and death of many people, including several celebrity singers, rappers, and professional athletes.?? While it’s unclear how many people misuse prescription cough syrups in the form of drug cocktails like purple drank, we do know that many teens turn to cough and cold medication to get high, including 2.8% of 8th graders, 3.3% of 10th graders, and 3.4% of 12th graders, according to the 2018 Monitoring the Future Report.?? Also Known As: Purple drank is also known as sizzurp, purple stuff, lean, drank, barre, Texas tea, Memphis mud, and purple Sprite. Drug Class: The primary drug ingredient in purple drank is codeine, which is classified as an opioid, whereas promethazine, another drug in the cocktail, is an antihistamine. Common Side Effects: Purple drank is known to cause euphoria, nausea, dizziness, impaired vision, memory loss, hallucinations, and seizures. How to Recognize Purple Drank This potential killer cough syrup is cut with soda and sometimes candy or even alcoholâ€"giving it a signature saccharine taste and purple color. It is typically served in a styrofoam cup. What Does Purple Drank Do? People typically sip purple drank to experience the reported euphoria and dissociation from one’s body. It’s often called a “swooning euphoria”â€"promethazine acts as a sedative and codeine creates a feeling of euphoriaâ€"and these effects last between three to six hours.  Purple drank also goes by the name lean because similar to being very drunk, people often literally lean on something to stand up once these effects take place.?? What the Experts Say Purple drank become popular partly due to the glamorization of sizzurp and its euphoric effects among many celebrities and in numerous hip hop songs and videos. Compared to other recreational drugs, the ease of obtaining the ingredients and the drugs relatively low cost to make it more accessible than other recreational drugs. In 2014, pharmaceutical company Actavis decided to stop producing and selling its prescription-only promethazine-codeine  syrup product (nicknamed Prometh) due to the rise in recreational use. Unfortunately, this move did not deter its use. In fact, people have reportedly stockpiled the promethazine-codeine cough syrup and it remains to be seen whether people seeking a similar high will come up with another way to concoct a cocktail replete with promethazine and opioids. For instance, drank can be brewed from over-the-counter cough syrups containing dextromethorphan (DXM), which is similar to the dissociative anesthetics ketamine (Special K) and phencyclidine (PCP). Like its chemical brethren, when taken in excess, dextromethorphan can cause hallucinations and out-of-body (dissociative) experiences; it also causes adverse effects like increased heart rate, hypertension, and diaphoresis (profuse sweating).?? Common Side Effects Because there is really no way to know the soda-to-syrup ration, overdose risk is high with drug cocktails like purple drank. When used as prescribed, promethazine acts as an antihistamine, antiemetic (anti-vomiting), and sedative.?? Alone, promethazine doesnt usually cause euphoria unless mixed with other depressants like codeine and alcohol as in mixtures like purple drank. When taken in large doses, promethazine can cause:?? Changes in blood pressureDry skin and mucous membranesAbnormal heart rhythmSevere breathing problemsHallucinationsSeizures Codeine is a drug which is metabolized by the body into morphine. In prescription cough syrup, codeine works to suppress a cough. Morphine and other opioids can also cause feelings of elation, analgesia, and euphoria as well as dangerous side effects, including:?? DizzinessRedness of the arms, face, neck, and upper chestShortness of breathStopping of the heartBrain damage Purple drank is composed of multiple depressants which can synergize to cause: Respiratory depressionSomnolence (sleepiness)StuporComaHypotension (dangerously low blood pressure)Sudden death?? Furthermore, when other central nervous depressants are thrown into the mix like barbiturates, narcotics, and tricyclic antidepressants, repercussions are particularly grim. From a scientific perspective, its difficult to pinpoint exactly how much purple drank it takes to kill someone. From a medical perspective, its safe to say that imbibing any amount of purple drank is dangerous. Signs of Use Beyond finding empty bottles of cough syrup, styrofoam cups, soda, and candy among your loved ones belongings, its important to watch out for any changes in personality and behavior. Changes might include being irritable, changes in sleep patterns, a loss of interest in school or social activities, or a sudden change in friends. Spotting the Signs of Overdose If you suspect someone has overdosed on sizzurp, call 911 immediately or the national toll-free Poison Help hotline (800-222-1222).Bluish-colored fingernails and lipsBreathing problems (slow and labored breathing, shallow breathing, no breathing)Cold, clammy skinComaConfusionDizzinessDrowsinessFatigueLightheadednessLoss of consciousnessHigh or low blood pressureMuscle twitchesTiny pupilsSpasms of the stomach and intestinesWeaknessWeak pulse Myths Common Questions Many people have a false perception that something is cool because celebrities are involved (or it is part of the lyrics of your favorite song), but there is nothing cool about the potentially life-threatening dangers of purple drank. Whats more, just because the ingredients involved are legal or sold in a pharmacy, it does not make it safe to drink. When not used as directed on the label or exactly prescribed, cough medicine (or other over-the-counter) drugs can be harmful to your health. Tolerance, Dependence, and Withdrawal Codeine is a habit-forming opioid pain reliever, which means taking more than prescribed can easily lead to dependence and potentially addiction.?? It is possible to build a tolerance to this potent cough syrup cocktail, which puts you at a greater risk for overdose as well. How Long Does Purple Drank Stay in Your System? How long promethazine with codeine cough syrup will remain in your body depends on several factors, including dosage, how often you use the medication, your age, weight, and metabolism, as well as your hydration and activity levels. While there is no exact drug test or timeline for purple drank, here is an estimated detection window for codeine according to drug test type: Urine: 2 to 3 daysBlood: Up to 24 hoursSaliva: 1 to 4 daysHair follicle: Up to 2 to 3 months (but will not register until 2 to 3 weeks after use) How Long Codeine Stays in Your System Addiction Developing an addiction to purple drank is possibleâ€"but it wont happen overnight. Factors like genetics, environment, underlying mental health as well as the frequency of use all play a role in whether or not someone develops an addiction. Withdrawal If someone you care about builds a tolerance to sizzurpâ€"and then suddenly stops taking the potent cocktail, they may experience symptoms of withdrawal, including:?? AnxietyIrritabilitySleep problemsTeary eyesRunny noseSweatingYawningMuscle achesFaster heartbeatLoss of appetiteNausea and vomitingDiarrheaChills or goosebumps Withdrawal from purple drank use can be very uncomfortable, but it is not life-threatening. Although complications can occur that pose a  potential danger. For example, vomiting and diarrhea can cause dehydration  and chemical and mineral disturbances in your body. Overdose is also possible if you quit and then take the same dose of the drug again. Your body will no longer be able to tolerate the amount you used to take. How Long Does Withdrawal From Opioids Last? How to Get Help If you or a loved one is misusing cough syrup, please seek help and consult with a primary care physician, nurse practitioner, or mental health professional who can refer you to an addiction specialist. You may need long-term recovery support or addiction treatment following withdrawal to stay off this drug cocktail, including: Maintenance medicationSupport groups (Narcotics Anonymous  or  SMART Recovery)Outpatient therapyIntensive outpatient treatmentInpatient treatmentLife skills trainingRelapse prevention Remember: Theres no shame in getting help; its one of the bravest things you can do. Resources for Treatment If you’re looking for a reputable rehab or other mental health services in your area, the Substance Abuse and Mental Health Services Administration has a free treatment locator as well as a 24-hour hotline.

How 3 Former PayPal Employees Created YouTube

What in the world did we do before YouTube was created? Or, rather,  know how to do? Everything from how to put on false eyelashes to the proper way to skin a deer to the chord progressions for your favorite rock songs is now just a click away, thanks to this video-sharing invention by a trio of former PayPal employees. It was February 2005 when Steve Chen, Chad Hurley, and Jawed Karin, working out of a garage in Menlo Park, California, debuted their invention. In November 2006, the investors became millionaires when they sold YouTube for $1.65 billion to the search engine Google.   A Virtual Encyclopedia According to Jawed Karim, the inspiration for YouTube came from the halftime faux pas committed by Janet Jackson and Justin Timberlake, when Janet’s breast was  accidentally  exposed to millions of viewers on live television. Karim could not find the video clip anywhere online, so the idea to found a destination to watch and share videos on the World Wide Web was born. Today, YouTube users can create, upload, and share video clips on the site, www.YouTube.com, and also embed them for further sharing on any number of non-YouTube pages, including  Facebook  and  Twitter. Not only that, users can access millions of other videos, both amateur and professional, including music videos, how-tos, product reviews, and political rants—even entire movies and television programs. YouTube even has a satellite television station. And its all mostly free, although there is a subscription component that allows you to customize your use. While almost anything goes on YouTube, there are a few things that dont. Content that is sexually explicit, hateful, violent, or that is threatening or bullying will be removed. Likewise, YouTube does not permit spam, scams, or misleading metadata, and they have strict rules against copyright infringement as well. Users are fully able to flag anything they see as inappropriate, and it will be brought to YouTubes attention immediately. About the Founders Co-founder Steve Chen was born in 1978 in Taiwan and immigrated to the United States when he was 15. He was educated at the University of Illinois and after graduation found employment at PayPal, where he met his fellow YouTube co-inventors and co-founders Chad Hurley and Jawed Karim. In August 2013, he and Chad Hurley also launched MixBit, a smartphone video editing company. Currently, Chen is with GV (formerly Google Ventures), a venture capital firm that focuses on technology companies. Born in 1977, Chad Hurley received a bachelors degree in fine art from the University of Pennsylvania and was later employed by eBay’s PayPal division (Hurley designed PayPals trademark logo). In addition to founding MixBit with Steve Chen in 2013, Hurley is also an investor in several major sports teams. Jawed Karim (born in 1979) also worked at Paypal, where he met his future YouTube founders. Karim also pursued an advanced degree at Stanford University and is considered the most elusive member of the threesome. He was the first person ever to post a video on YouTube, a 19-second video of his visit to the elephant exhibit at the San Diego Zoo. As of this writing, the video has had over 72 million views.

The Theater Experience in Shakespeares Lifetime

To fully appreciate Shakespeare, its best to see his plays live on stage. It’s a sad fact that today we typically study Shakespeares plays out of books and forego the live experience. It’s important to remember that the Bard was not writing for today’s literary readership, but for a live audience. Shakespeare was not writing for just any live audience but was writing for the masses in Elizabethan England, many of whom couldn’t read or write. The theater was usually the only place the audiences to his plays would be exposed to fine, literary culture. To better understand Shakespeares works, todays reader needs to go beyond the texts themselves to consider the context of these works: the details of the live theater experience during the Bard’s lifetime. Theater Etiquette in Shakespeare’s Time Visiting a theater and watching a play in Elizabethan times was very different from today, not just because of who was in the audience, but because of how people behaved. Theatergoers were not expected to be still and silent throughout the performance as modern audiences are. Instead, Elizabethan theater was the modern equivalent of a popular band concert. It was communal and even, at times, raucous, depending on the subject matter of a given performance. The audience would eat, drink, and talk throughout the performance. Theaters were open air and used natural light. Without the advanced technology of artificial light, most plays were performed not in the evening, as they are today, but rather in the afternoon or during the daylight. Furthermore, plays during that era used very little scenery and few, if any, props. The plays usually relied on language to set the scene. Female Performers in Shakespeare’s Time The laws for contemporary performances of Shakespeare’s plays banned women from acting. Female roles were thus played by young boys before their voices changed in puberty. How Shakespeare Changed Perceptions of the Theater Shakespeare saw the public’s attitude towards theater shift during his lifetime. Prior to his era, the theater in England was considered to be a disreputable pastime. It was frowned upon by Puritan authorities, who were worried that it might distract people from their religious teachings. During the reign of Elizabeth I, theaters were still banned within the city walls of London (even though the Queen enjoyed the theater and frequently attended performances in person). But over time, the theater became more popular, and a thriving â€Å"entertainment† scene grew on Bankside, just outside the city walls. Bankside was considered to be a â€Å"den of iniquity† with its brothels, bear-baiting pits, and theaters. The place of theater in Shakespeares time widely diverged from its perceived role today as high culture reserved for the educated, upper classes. The Acting Profession During Shakespeare’s Time Shakespeare’s contemporary theater companies were extremely busy. They would perform around six different plays each week, which could only be rehearsed a few times before the performance. There was no separate stage crew, as theater companies have today. Every actor and stagehand helped to make costumes, props, and scenery. The Elizabethan acting profession worked on an apprentice system and therefore was strictly hierarchical. Playwrights themselves had to rise up through the ranks. Shareholders and general managers were in charge and profited the most from the company’s success. Managers employed their actors, who became permanent members of the company. Boy apprentices were at the bottom of the hierarchy. They usually began their careers by acting in small roles or playing the female characters.

What Being American Meant In 1780 Free Essays

In 1780, the notion of being American meant different things depending on one’s identity. To Thomas Jefferson, among the architects of the new nation, it meant deserving one’s liberty, and he believed that certain people were ill-suited for what he considered the demands of an enlightened society. In particular, he believed blacks and whites could never coexist because of slavery’s legacy, citing: â€Å"Deep-rooted prejudices entertained by whites [and] ten thousand recollections, by the blacks, of the injuries they have sustained† (Binder, 1968, p. We will write a custom essay sample on What Being American Meant In 1780 or any similar topic only for you Order Now   55-56). In addition, he considered them intellectually inferior. He considered America an improvement over other nations, and while he felt ambivalent about slavery and sympathetic toward blacks, he did not envision a multiracial America. For poet Phyllis Wheatley, an African-American who spent years in slavery and lived in poverty, being an American meant barriers and contradictions based on race. Wheatley, whose poetry Jefferson thought â€Å"below the dignity of criticism† (Robinson, 1982, pp. 42-43), was well aware of America’s racial contradictions (a nominally free nation which still embraced slavery) but nonetheless asked white America for tolerance and acceptance. In â€Å"On being Brought from Africa to America,† the narrator is optimistic about America and grateful for being part if it – â€Å"’Twas mercy brought me from my Pagan land† – but also admits, â€Å"Some view our sable race with scornful eye, /’There colour is a diabolic die’† (Robinson, 1975, p. 60). However, her closing appeal is not for liberty and full equality, but simply a reminder that blacks can at least be equal as Christians, in God’s eyes. To Jefferson, part of America’s elite, being American meant freedom for those who met his standards, while Wheatley, aware of America’s racial situation, makes an appeal for at least spiritual equality. Being American meant being free – though race was used as a means of denying freedom to all. REFERENCES Binder, F. M. (1968). The Color Problem in Early National America. Paris: Mouton. Robinson, W. H. (1975). Phyllis Wheatley in the Black American Beginnings. Detroit: Broadside Press. Robinson, W. H. (1982). Critical Essays of Phyllis Wheatley. Boston: G. K. Hall and Company How to cite What Being American Meant In 1780, Papers

Calculating Price Elasticity of Demand †Free Samples to Students

Question: Discuss about the Calculating Price Elasticity of Demand. Answer: Introdcution: Price elasticity of demand gives information to the seller about the possible reaction that the buyers will have upon a price change (Moffatt, 2017). This is very important therefore in deciding the price to charge for the goods produced. The topic of elasticity helps in understanding the nature of the good depending on the magnitude of demand. A good with a high demand even when the prices are high is considered price inelastic (Pettinger, 2017). Similarly, a good that demand is low when prices are high is considered price elastic. Elasticity helps the investor therefore in determining the changes that will occur to the revenues when they vary their prices. It is crucial for the Board of Schmeckt Gut to understand that raising the price does not always result in an increased revenue; it only happens when demand is inelastic to price. If the demand is elastic to price, even a price rise could result in a reduced revenue. The board should also understand that lowering prices may at so metimes increase the producers revenue; this is the case where demand is price elastic; this is because more consumers will demand the good. In order to ensure that the introduction of Schmeckt Besser energy bar is smooth, the instructions the board should give the Schmeckt Gut Research Department are as follows. One is to determine the nature of the good which will determine the magnitude of need for this product. If the energy bar attests to be a necessity good, then the board should introduce the product at a higher price since demand will still be significant; otherwise it should be introduced at a lower price. The researchers should also identify the availability of close substitutes; if there are close substitutes, the energy bar will be price elastic and thus should be introduced at a lower price; otherwise it should be introduced at a higher price. The price should be equal or lower than for the close substitutes if available to make it more attractive in the market. Price ($ per Energy Bar) Quantity Demanded (Thousands per Day) PQ 1 30 30 1.5 25 37.5 2 20 40 2.5 15 37.5 3 10 30 $2 is the price that maximizes total revenue since it is giving the highest revenue of $40,000. The relationship between the Energy bars from Schmeckt Gut and those from Fly High is for complementary goods. This is because the movement between the quantity demanded for Schmeckt Gut Energy bars and the price for Fly High Energy bars is on opposite directions (Arnold, 2015). This is represented by the negative sign of the cross-elasticity of demand. The Schmeckt Besser energy bar could be smoothly introduced into the market by determining the nature of competition that exist in the market. Based on the argument that the Schmeckt is able to lower its prices so as to influence its quantity level, this makes this market an oligopoly. This is proved further by the influence of one price on the price of another producer. Further, we already confirm that this is not a perfectly competitive market because if it is, Schmeckt could not be concerned with the introduction price as it is already provided in the market. Thus, Schmeckt should understand how the players in the oligopoly markets influence the price and quantity level. This firm should also identify the target group and tailor its products according to this group so as to make the goods more competitive. Schmeckt Gut Research Department specific tasks include the identification of the other players and analyze their characteristics such as price charged and their supply level. It should also have constant track on the strategy taken by the other players. This is important because any strategy taken by any single player will affect all the other players including Schmeckt. References Arnold, R. (2015). Microeconomics. South-Western: Cengage Learning. Moffatt, M. (2017). A Primer on the Price Elasticity of Demand. ThoughtCo. Retrieved 21 October 2017, from https://www.thoughtco.com/price-elasticity-of-demand-overview-1146254. Pettinger, T. (2017). Calculating Price Elasticity of Demand. Economicshelp.org. Retrieved 21 October 2017, from https://www.economicshelp.org/blog/195/economics/calculating-price-elasticity-of-demand/.