Cars - Production, Selling, Marketing Essays - Consumer Theory

Cars - Production, Selling, Marketing 1. People looking to trade in their old car for money off of their new car become discouraged with the low trade in value, and decide either not to buy a new car at all or to buy a cheaper model. The lower car sales is a reduction in demand, because the decrease in resale value of used cars is not changing the prices of the new cars, as a change in quantity demanded would suggest, it is changing what people are willing to pay for the cars. A graph of the new demand curve would actually be shifted to the left of the old demand curve, because the price of new cars has not changed, but the number of new cars being sold has changed. 2. Escalating consumer debt, higher interest rates, and slow growth in real income are all making it difficult for consumers to purchase cars. These factors also are not changing the price of cars, and so they are changes in demand, not quantity demanded. In other words, these factors are shifting the entire demand curve to the left. 3. Ford and Toyota are making the price of buying a new car cheaper, hoping that more people will want to purchase new cars. This is an attempt to change the quantity demanded. Ford and Toyota are hoping that their efforts will move them downward on a demand curve, hence more will people buy the less-expensive new cars. An advertising campaign. If Toyota and Ford were to start a new advertising campaign, they would be attempting to change the demand. With a new advertising campaign, the car companies are hoping that the demand curve would shift back to the right and more people would buy the cars they are making at a price that returns their profit to its original level. Answers to Use Your Economic Reasoning on pages 82 & 83 1. The U.S. has already mined most of its high-quality, accessible natural resource deposits. Other countries still have many high-quality, accessible deposits of natural resources. 2. Technology is helping U.S. firms to lower costs, by increasing their productivity while decreasing their human labor force. Using technology, the productivity of each employee within the firm is very high. The pay role for employees is less simply, because there are much fewer employees, but the profits of the company increase, because the productivity increases. 3. Technological advances in the mining industry are not changing the prices of the products, but they are changing the amount of product produced. The coal industry wants to sell more products at the same price, thereby moving the demand curve to the right. This is a change in supply not in quantity supplied. Answers to Use Your Economic Reasoning on pages 92 & 93 1. See Graphs at bottom of next page. As the demand was going up for students with college degrees the supply was not able to keep up. More and more companies were willing and able to pay for college educated people, but there were not enough college graduates to go around. So the companies that got the college graduates were the ones who were willing to pay the most money. These inflated the entire market of incomes for college graduates, because the demand was so much greater than the supply. 2. Now we will find that the supply of college graduates is gradually catching up to the demand for them. Unless the demand for college graduates continues to grow, as I suspect and hope it will, we will reach an equilibrium were the only difference in pay between high school and college graduates will be the cost of going to college. In this case, the amount that people are willing to pay for a college graduate will not be as high because there are a lot more college graduates in the market. The supply will also level out, because high school students will no longer believe that it is to their advantage to go to college, because the incentive is not that great. Answers to 1, 2, & 7 of Problems and Question for Discussion on pages 104 & 105 1. To me a need is something that you literally can not live

Napoleon Bonaparte - A slayer of the Revolution essays

Napoleon Bonaparte - A slayer of the Revolution essays The French Revolution was fought for the equality, liberty and fraternity of the third social class in France. These ideas were carried on into the post revolutionary era of Napoleon Bonaparte. Napoleon Bonaparte was a product of the Revolution, for if it were not for the revolution, he would not have gained any major military and political opportunities like he had been given. Liberty, equality and fraternity became some of the most important principles of the revolution. It may have seemed that Napoleon Bonaparte kept alive these principals of the revolution but in reality through his oppression of equality, consulate government, and raze of liberty and freedom, he became a slayer of the Revolution. Napoleon had appeared to the population of France to be a believer in equality, one of the principles of the revolution. The first task of Napoleons government was to draw up a new constitution. This constitution affirmed the equality of all citizens before the law, but it only concerned men because the husband was given absolute authority over the family. Women had no rights and were seen as inferior to men. Napoleon also had a legion of honor, which placed people in different rankings in the military according to what good they have done their country and what they have accomplished. If Napoleon believed in equality, he believed in imposing it from above. The thought of equality did not refer to Napoleon or his family, for he became Emperor and they princes and kings. Napoleon used certain tactics while he was in power to get what he wanted, even if that meant lying to the people of France. Napoleon created a constitution that gave the illusion of a representative government, while he was transforming himself into emperor. This worked for Napoleon because the French thought they had a representative government. In reality, the representative government had no real power and Napoleon always had the final say. When ...

Tacit Knowledge, Systems for Combating Identity Theft Article

Tacit Knowledge, Systems for Combating Identity Theft - Article Example Also devise a method for a medical or financial organization to determine its security measures are sufficient. Develop an organizational plan for information systems to address potential identity theft issues. Tacit Knowledge: Making It Explicit Reference Information: http://www2.lse.ac.uk/economicHistory/Research/facts/tacit.pdf Purpose of Study: Provide an understanding of tacit knowledge and the risks related to it. Sampling Comments: According to TACIT KNOWLEDGE(n.d), tacit knowledge is â€Å"information that the actor knows he has (how to catch a ball, tie a knot, and mark a line) but which he cannot, nonetheless, describe in terms other than its own (skilful) performance†(TACIT KNOWLEDGE, n.d.). Measures: The article reviews aspects related to tacit knowledge. The aspect of transfer of knowledge from one person to the other is the core factor in tacit knowledge. Polanyi (2002) argues that transformation of such information creates problems. Personal knowledge is commonl y used despite the fact that it is shared among many. Findings/Results/Main Points: Personal information works best when instruments used in technology are not available. Availability of machines used in communication and softwares that encourage social behavior contributes to tacit. During this process, many employees are tricked to leak secret information that lead to identity theft. Conclusion: The importance of tacit knowledge remains debatable in relation to the risks involved. Its effectiveness is noted from the ability that it lacks explicit information. Organizations need to sensitize their employees on use on internet to avoid leakage of secret information that leads to identity theft. Systems for Combating Identity Theft- A Theoretical Framework Reference Information: Ji’, S. Smith-Chao, S. & Min, Qing-Fei. (2008, August). Systems Plan for Combating Identity Theft- A Theoretical Framework. J. Serv. Sci. & Management Journal, 1: 143-152. SciRes. Purpose of Study: To examine the starting point used for organizational systems design in roles played by identity owner, the issuer, checker and protector. Sampling Comments: â€Å"From system analysis and design perspective, understanding identity theft problem and designing managerial and technological systems to combat identity theft requires a holistic and comprehensive framework† (Ji, Smith-Chao & Min, 2008). Measures: Identity thieves use several techniques to retrieve data from their victims. Some of unsophisticated means used are stolen wallets, cell phones and laptops. Social engineering is used in convincing internet users to reveal their secret information. Processes needed to stop identity theft rely on information technology and its systems. Findings/Results/Main Points: Identity theft takes place through stage managed steps. Step one; the identity thief gets personal information of the victim. In step two; the identity thief tries to misuse stolen information of the victim. The fin al step involves the victim suffers emotionally or financially after the identity thief has vandalized the victim’s property. Conclusion: The world has turned to a global village through technology. Use of internet has increased from individual use to organizations. Internet is used for communication and business. Personal information