...I. Introduction J. S. Mill was a most unusual and gifted thinker who contributed significantly not only to economics but also to political science and philosophy. His tremendous intellectual powers were complemented by an education of unique breadth and intensity. Although J. S. Mill was an extremely capable economic theoretician, his intellectual background directed him toward much broader social issues than economists typically address. Mill was essentially social philosopher intent upon improving the role of the individual in society. In place of the pessimism of his father and Ricardo, he advanced a guarded optimism that contemplated the development of a good society. Although he read widely, the major influences on his economic ideas were his early training in the classical economics of Smith, Ricardo, his own father, and Bentham; the socialist writings of Fourier and Saint-Simon; the writings of Comte, sometimes called the father of sociology, who led Mill to view economics as only one aspect of human social activity; and, finally, his friend Harriet Taylor, who later became his wife and who taught Mill to be more receptive to the humanistic socialist ideas of his times. Mill was both a classical liberal and a social reformer. J. S. Mill's position in the development of economic ideas is difficult to specify. He wrote at the end of the classical period, but his open-mindedness, one of his greatest assets, enabled him to modify classical doctrine in several ways. His...
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...Impact of Alfred Marshall on Economics Robert L. Upshur Grantham University Steve Shaw Microeconomics August 21, 2012 Alfred Marshall (July 26, 1842 – July 13, 1924), was one of the most influential economists of his time. He led the British Neoclassical School of Economics, and was responsible for the emergence of Cambridge University as a center of economic research in the early twentieth century. Through his work, applying mathematical principles to economic issues, economics became established as a scientific discipline. Marshall attempted to bring together the classical approach, in which value was determined by cost of production, with the idea of marginal utility developed both by his British predecessor William Stanley Jevons and the Austrian School in continental Europe, downplaying the revolutionary nature of their insights. He argued that supply and demand factors (cost of production and utility respectively) both determine price, suggesting that their relative importance is mostly a factor of the time period (long run or short run) under consideration. Although Marshall's views were never completely accepted by all economists, his ideas were influential in advancing understanding of economic relationships, which are fundamental to the successful development and maintenance of a stable, prosperous society that benefits all its members. Modern economists owe the linkage between price shifts and curve shifts to Marshall. Marshall contributed to the "marginalist...
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...At last, and finally, here is the first accurate and beautiful translation of Richard Cantillon's 1755 masterpiece on economics. This treatise is widely credited with being the first to describe the market process as one driven by entrepreneurship. William Stanley Jevons, in the first blush of discovery, proclaimed Cantillon’s Essai, “the cradle of political economy.” A cradle holds new life; and there can be little doubt that the Essai added new life to the organizing principles of economics. But “political economy” does not accurately describe the subject Cantillon addressed. Indeed, he scrupulously avoided political issues in order to concentrate on the mechanics of eighteenth-century economic life. When confronted by “extraneous” factors, such as politics, Cantillon insisted that such considerations be put aside, “so as not to complicate our subject,” he said, thus invoking a kind of ceteris paribus assumption before it became fashionable in economics to do so. Murray Rothbard, for this reason, called Cantillon the "founding father of modern economics." This book preceded Adam Smith by a generation. Unlike any previous writer, Cantillon explicated the vital role of the entrepreneur with perception and vigor. Hence, he deserves to be called “the father of enterprise economics.” We know little of Cantillon’s life and the circumstances of his authorship. The manuscript that was eventually published in 1755 circulated privately in France for almost two decades before;...
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...Business Context Glyndŵr University Table of Contents Introduction: 1 British Airways: 1 Organisational background: 1 The industry: 2 PASTLE Analysis 3 Carroll’s four part model: 5 Demand and Supply: 7 Supply and demand in British Airways: 8 Price elasticity: 8 Conclusion: 9 References: 10 Introduction: In order to reach the maximum sustainable level of income and profitability in business, often analytical tools are used in the business methods. These analytical tools help to improve the effectiveness of the target program that is active and can help to show which areas of the business will be subject to refinement or applying again to the profit and loss account to maximize (Thrall et al 1954). According to Rizzello (1999), By addressing the business quantitative methods, management and recalculate a better understanding of the forces at work in their departments and in the business environment as a whole, in general the establishment of a higher level of control over all aspects of business. Many senior level executives concerned about increased investment in staff and systems to provide a comprehensive assessment to make. Ideally, the existing theories of the organizational and administrative arrangements are there to use environment as reliable guides for environmental activities. And therefore, a number of tests to assess the amount of the existing theory used by practitioners of the strategic environmental assessment and decision-making...
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...Michelle Panazzolo May 8, 2008 Sociology Grigoris Argeros Population Growth According to Thomas Malthus Throughout history, many people have made assumptions and expectations on population growth. Over the past two centuries, birthrates have dramatically increased; meanwhile death rates have significantly decreased. One influential person to discuss this phenomenon was Thomas Robert Malthus. According to Malthus, the population is growing much more rapidly than the resources available to the population. Throughout his six editions of An Essay on the Principle of Population, Malthus explains his ideas about population growth, which he believes will eventually lead to famine, war, or other epidemics. On February 13, 1766, Thomas Robert Malthus was born to Daniel and Henrietta Malthus in Guildford, Surrey. His father Daniel was friends with philosophers David Hume and Jean-Jacques Rousseau, and was in a prosperous family. He was home schooled at a young age, and then went on to attend the Dissenting Academy in Warrington before his acceptance to the Jesus College in Cambridge. At the Jesus College, Malthus majored in Mathematics but won many prizes in English declamation, along with other subjects. After earning his Masters Degree in 1791, he was elected as a fellow of Jesus College, taking orders and becoming an Anglican country parson. On April 12, 1804, Malthus married Harriet Eckersall;...
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...The decision to purchase a new home is a major decision and should not be taken lightly. When using the term new home, we will consider new, site built homes. When one considers that this home will more than likely be the dwelling place for the buyer for the remainder of their life, it places even more significance on the decision. There are many things that should be considered and many things than can affect that decision before a final choice is made. One of the first considerations when deciding to purchase a new home is the cost and how that cost will affect the supply and demand for new homes. The higher the cost of new homes, the lower the demand for new homes will be. Factors that affect the cost would be the number of sellers and the number of buyers. The greater the number of sellers of new homes in a neighborhood, the lower the cost of a new home in that neighborhood. If there are numerous sites for new houses for sale in a neighbor of relative size and features, due to competition, the lower the cost of a new home will be. This follows the law of supply and demand. If there are a limited number of sites available and numerous buyers seeking a new home in the neighborhood, the higher the cost will be. Each potential buyer would be willing to pay a higher cost to obtain the house of their choice. This also follows the law of supply and demand. When the supply of a good rises (falls), the cost for that good falls (rises). When the demand for a good rises (falls)...
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...MODULE TITLE: Microeconomics, Introductory PROGRAMME: BA in BE TITLE OF ESSAY: Passengers in air, supply and demand analysis Air transportation is very valued type of transport by people, especially because it is time-saving, when you are travelling to countries, which are long-distance from each other, and mostly, it is the only way to get an access to geographically isolated areas. Moreover, air transportation enables the access to people, capital, markets, and resources. As, a result, the availability of air transportation services effectively increases in most of the countries. It has also an effect on economic activity. Different factors dominate the relationship between economic and air transportation. Because of these unique factors, the nature of air transportation flows differs among the economics. In this paper, I would like to analyze what are the main factors of demand and supply that have an impact on air transportation market in Eurozone area. Like any other business, the airline industry is impacted by changes in its external environment. Prices have a strong impact on demand of airline industry. As I can observe on the graph, the inflation for traveling by airplanes is falling down, while the prices of tickets are rising up, and when the prices of tickets are going down, the inflation is again starting to increase. There are several factors that have influence on price dynamics; political, legal, economical, social, and technological. Knowledge...
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...Individual Case study A: 4 BMA258 Services Marketing 2015 Simon Martin 077915 Individual Case study A: 4 BMA258 Services Marketing 2015 Simon Martin 077915 Contents Introduction 1 Body 2 Conclusion 4 References 5 Introduction This report will provide information obtained through a case study, regarding the revenue management of gondolas. The report, will pay particular attention to the capacity of gondolas, revenue impacts, revenue maximisation and the difficulties whilst trying to balance heritage and culture, pricing structure, and will highlight recommendations and customer’s reactions. The report will contain definitions, strategies and theories gathered from relevant marketing texts. Body Case facts The case Revenue Management of Gondolas: Maintaining the Balance between Tradition and Revenue shows the history, importance, and role of the Gondola/Gondoliers in Venice. The key facts are there has been a heavy decline in the number of Gondolas from when they were initially produced and that demand of customers can be segmented into high and low seasons. The cultural background and strict regulations in Venice keep uniforms and boats traditionally designed. This also applies to the restriction of Gondoliers, requiring their birth to be in Venice. Many dilemmas are present including; capacity issues limiting their supply for market demand, and the pressure to maintain the tradition of Gondolas. Thus increase revenue difficult to achieve. In the past the core...
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...Stock Report | October 2, 2012 | NYS Symbol: TJX | TJX is in the S&P 500 TJX Companies Inc (The) 55555 S&P Recommendation BUY Price $45.17 (as of Oct 2, 2012) 12-Mo. Target Price $50.00 Investment Style Large-Cap Growth UPDATE: PLEASE SEE THE ANALYST'S LATEST RESEARCH NOTE IN THE COMPANY NEWS SECTION GICS Sector Consumer Discretionary Sub-Industry Apparel Retail Summary TJX operates several chains of off-price apparel and home fashion specialty stores in the U.S., Canada, Germany, Poland, Ireland and the U.K. Key Stock Statistics (Source S&P, Vickers, company reports) 52-Wk Range $46.67– 26.89 Trailing 12-Month EPS $2.26 Trailing 12-Month P/E 20.0 $10K Invested 5 Yrs Ago $32,954 S&P Oper. EPS 2013 E S&P Oper. EPS 2014 E P/E on S&P Oper. EPS 2013 E Common Shares Outstg. (M) 2.50 2.77 18.1 736.1 Market Capitalization(B) Yield (%) Dividend Rate/Share Institutional Ownership (%) Price Performance $33.250 1.02 $0.46 87 Beta S&P 3-Yr. Proj. EPS CAGR(%) S&P Credit Rating 0.56 17 A Qualitative Risk Assessment 30-Week Mov. Avg. 10-Week Mov. Avg. 12-Mo. Target Price Relative Strength GAAP Earnings vs. Previous Year Up Down Volume Above Avg. No Change STARS LOW MEDIUM HIGH Below Avg. Our risk assessment reflects our view of TJX's leadership position in off-price retail and promising new merchandising and productivity initiatives that could boost sales and profit ...
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...and distribute all the necessary materials? Why did you choose a specific supplier? Location The TJX's Corporate Headquarters are located in Framingham, Massachusetts. The proposed business location for the Cartsaurus will be in Boston. This is an excellent location to serve our target market. Because we are first focusing on selling our product to TJX Companies and it’s easier for us to communicate issues about business. The company will be located on high traffic commuter routes. Locating a facility with easy access to natural resources or suppliers helps we keep transportation costs low. Suppliers Cartsaurus is currently in trial run and we planned to make 1000 shopping carts as variability test in 50 TJMaxx and Marshalls stores. Company is in negotiations with two Kansas manufacturers to supply shopping carts. It will establish a relationship with a reputable shipping company and a freight agent to aid in the smooth transition of product from the manufacturer to our distribution center. Cartsaurus wishes to establish long-term loyal relationships with its suppliers. Factors such as history, reliability, reputation, delivery system, service, product guarantees and liability issues will be crucial in the final decision. Due to the company's expansion plans in years two and three, it is important that our suppliers have regional and possibly national coverage. Inventory Cartsaurus Company will keep 50-100 shopping carts as inventory, although this will...
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...TO: CEO of Gap Inc. FROM: Andre’ Snead I have conducted a company analysis on Gap Inc. and my findings resulted in the following recommendations to improve their sales for the next three years: * Gap Inc. need to produce a better advertisement campaign that relates more to their customers. * Fashion and brand-conscious consumers who shopped at retailers such as Gap tended to be emotionally driven in their purchasing behavior and were influenced by marketing efforts that showcased the store’s latest trends. According to Exhibit 1, buyers bargaining power is strong because they control what they purchase and from what retailer they purchase from. Buyers are more inclined to make wiser purchases because of the state of the economy. By producing a better advertising campaign, Gap Inc. can entice an emotionally driven customer that sees a commercial or a billboard to make a purchase. * Social media have taken over the lives of many consumers in America. This is another area that Gap Inc. should focus its advertisement strategy. By utilizing Facebook and Twitter, Gap Inc. can reach out to millions of their customers and increase their brand image, which is a key success factor in the retailing industry. (See Exhibit 2). * Gap Inc. should focus some of its resources and assets on producing plus-sized clothing in the United States market. * By 2010, the plus-sized segment in the clothing store industry reached 27 billion dollars. The number...
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...Poetry allows an author to relay a message to a reader through different literary devices and each reader can interpret the author’s words differently. However, in this poem, the author makes his point clear. Lord Tennyson Alfred uses syntax, different figures of speech and abstraction in the poem, “The Charge of the Light Brigade,” to illustrate the honor and heroism of the six hundred in the valley of death. Tennyson uses syntax to create an irregular poem that does have some repetition. There are six stanzas but they all have an irregular sound pattern. However, there are places in the poem that the words at the end of the lines rhyme without having the same letter endings. For example in stanza two lines five through seven, the final words end with the “y” sound, “Theirs not...
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...T.J.X. Companies, Inc. Final Case Study Report Nichols College T.J.X. Companies, Inc. is the leading off-price apparel and home fashions retailer in the United States and worldwide, ranking number 115 in the most recent Fortune 500 listings. They have the broadest demographic reaches in retail, all of which have enabled them to achieve successful, and profitable growth year after year, through many types of economic and retail cycles. With over 3,000 stores in six countries, approximately 179,000 associates and a fresh e-commerce presence, and they are growing faster than ever (“About the TJX Companies, Inc.,” 2014). Through T.J.X. Company’s innovative buying and sourcing strategies, they discover and deliver value for shoppers in many ways. Their goal is to provide customers with quality merchandise for the entire family, every day. Value means more than price to T.J.X. Company professionals; buyers are trained to recognize that true value is a combination of fashion, quality, brand and price. T.J.X Companies are known for their brand name and designer fashions at 20-60% off department store prices. They are able to do this by purchasing merchandise from designers when they over produce or other department stores over purchase. They go in during these certain situations and negotiate the lowest possible price to pass on the savings. How they buy is just as important as what they buy. They pride themselves in never having the same selection twice with new arrivals...
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...Psychoanalytic Personality Assessment When people think of psychology, many think of it as a science but in reality, psychology has different levels with many dimensions. Psychology is compounded with many theories and studies that by trial, and error, have made psychology into the discipline that it has become today. Sigmund Freud, Carl Jung, and Alfred Adler are just a few scholars that have helped psychology become the science studied today. One must remember that these men are psychologists, yet they all possessed very different views and theories from one another. Sigmund Freud Probably one of the best known psychologist’s is Sigmund Freud; he has been the most influential on psychodynamic ideas. His psychodynamic therapy was used to cover the theories of personality and a source of therapy to go along with it. He believed that human behavior comes from three types of intuitions or impulses, which are the id, the ego, and the superego. The id is responsible for unconscious thoughts of personal pleasures. The id grows into the ego, which is basically on a conscious level and is thought to protect one’s self or self-preservation. The ego becomes the superego, which develops to consist of thoughts on one’s moral judgments and conscience. The id, the ego, and the superego are supposed to work together to form human behavior (George, 2008). Freud believed that traits of one’s behavior started at birth, which led him to break down behavior into stages...
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...Psycho by Alfred Hitchcock was released in 1960. An important relationship in this text is the unusual relationship between Norman and ‘Mother’. This relationship is unusual because although they are two separate entities and Mother is actually dead, there is a constant struggle for control of Norman’s mind and in the end, ‘Mother’ wins. This relationship helped me understand the main idea of madness through the parlour scene, the fruit cellar scene and the police station scene. The relationship between Norman and ‘Mother’ helped me identify and understand the idea of madness through symbolism, lighting and dialogue techniques in the parlour scene. This symbolism includes the stuffed owls, which seem ready to attack that are placed in the background in a low-angle mid shot of Norman. At another point in the scene, Norman leans forward into a close up. This shot helps support the idea that even though Mother is physically dead, she is alive and threatening to take over Norman’s mind. This can be seen through the lighting of Norman’s face, half-light, half dark, and the dialogue. “It's not like my mother is a maniac... We all go a little mad sometimes. Haven't you?” These techniques have been cleverly assembled by Hitchcock to subtly hint at the idea of madness and help us to get to know Norman, but is not yet prepared to reveal the extent of Norman’s madness due to Psycho being a horror film. The complex relationship helps us understand Norman as a character and the idea...
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