... You end up having $9.43 but you don’t have the extra Penny to buy all of your items so you have to put back an item to purchase the rest of your food. If only the penny didn’t exist so your total could be rounded down to $9.40 so you could purchase all of your snacks. The United States should ban the use of the Penny because of its high cost to produce, its large space it takes up, and the little amount that it's worth. The first piece of evidence that supports the topic of the U.S. banning the penny comes from source one. “Pennies cost more to make than they are worth, it costs $2.41 to produce the Penny in the U.S.” Pennies are a waste of money to produce and they should be banned from the United States currency. Another reason is that overall the U.S. lost over $60.2 Million dollars in 2011 from producing the Penny, it takes way more money to produce it then it is worth and it needs to stop, and the amount of money being wasted producing the Penny and it is adding up to this day. Therefore,...
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...Why pennies are worthless In 2006, copper prices rose catapulting the penny to cost more than 1 cent to make. To be exact, that was 1.23 cents per penny. Citizens began melting pennies down since they were worth more as copper than as currency. This is where the story, in a perfect world, should end as the government would stop making pennies and let their citizens destroy this deadweight to the economy. But instead, the government made melting down U.S. coins illegal, and continues to make the worthless currency that costs the government around $50 million a year today, according to the Washington Post. Up to this point, any penny elimination bill in congress has been shot down. You would think a government with an $18 trillion debt would...
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...Blooming Clothing .193 Case 11.3 Blooming Clothing A bumpy path to exports It was nine o'clock on a misty Irish morning in February 1995. Martha O'Byrne cycled down the narrow avenue to the clothing factory of which she was managing director and the main shareholder. Wheeling her bicycle into her small office, she wondered if Janet Evans had called yet. Janet, the chief buyer with the Mothercare chain of stores in the UK, had promised to phone her that morning, to let her know if she would be placing a further order with her company. Listening to the messages on her answering machine, Martha remembered the path that she had taken to establish her own enterprise. Blooming Clothing, the small company that Martha O'Byme owns and manages, is situated in the Liberties, an aid and historic part of Dublin, Ireland. Established in 1985, the firm employs 80 people manufacturing maternity wear for the Irish and export markets. Martha O'Byrne had come to this business by an unusual route. Having established herself as a successful merchant banker, she had been considering setting up her own business for same time. 'Women, I think, can have a mid-life crisis at the menopause, but I got mine when I was 28', she recalls. In 1984, a shopping trip with her pregnant sister-in-law revealed that the maternity wear available on the Irish market was dowdy and depressing. In that moment, the idea for Blooming Clothing was conceived. Martha resigned from her position in the investment bank in 1985...
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...For years, there has been a heated debate about the lincoln faced one cent piece that we all know as the penny, and if it should stop being minted. There has been countless arguments about if the penny should stop being minted, people want the penny to stop being minted due to it being heavy and hard to carry, the coin itself not being worth enough, but, the biggest and the most real argument for the penny to stop being produced is this, it costs the U.S. thousands and millions to produce pennies every year, we lose this kind of money every year because it costs more to actually mint the penny than the penny is actually worth. It costs 1.5 cents to create a penny, to quote one of my sources, Penny Wise, or 2.4 Cents Foolish? by Jeff Sommer, it says, “‘From the standpoint of economics, that’s just a total waste of money,’ Mr. Velde says.”....
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...Lab 2: The Density of Pennies Brennan Woodward Lab partner: Stephen Akinniranye Section 22 September 15, 2014 Brennan Woodward 15 September 2014 Section 22 Experiment 2: Density of Pennies Introduction The composition of the penny has gone through several changes throughout its life, having 6 composition changes. The penny was composed of pure copper when it was started but due to rising prices of copper it was moving to a cheaper composition. As time went by the composition transitioned away from pure copper into mixtures of copper and other metals, or an alloy. From the years 1837 to 1962 the composition underwent an alternation from a bronze metal to copper and zinc alloy1. After tin’s removal and somewhere in the time range of 1962 to the present time, the penny’s metal alloy changed to a 95% copper and 5% a second metal. The present composition of the penny is 2.5% copper and 97.5% of the second metal. The purpose of the lab was to explore the physical properties of matter through density and to find the identity of the second unknown metal. Density is an intensive physical property that can be used to determine an unknown substance, where the amount of the substance does not affect the density. Even though two objects may...
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...thought about the kids who benefit from penny drives? If you have then you know how important pennies are. One reason that the penny should stay in use is that the help charities. Also, they keep prices low. But, a lot of people think they’re useless. These reasons prove that the U.S. should keep the penny. One reason that the penny should stay in use in the because they keep prices low. One example is the supporters of the penny point out that if the U.S. stops using the penny cash transactions will have to be rounded up to the nearest nickel. This would make people pay more than what they would have if we have the penny. Also, prices show that if cash sales get rounded up to the nearest nickel, that would cost consumers more than $600,000 a year. According to the “Federal Reserve Bank,” low-income Americans are more likely to pay with cash. They would be hit hard if prices were rounded up to the nearest nickel. This reason is why pennies keep prices low. But, there are other reasons that the U.S. should keep the penny....
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...cities to memorials across the suburbs. Such is the case with our attentive preservation and production of pennies. Although some would argue to simply eliminate such an “obsolete” coin, many more would beg to differ. Contrary to popular belief a single cent resembles and represents much more than mere currency, for it embodies several crucial aspects such as history, legacy, culture, and economic prosperity. Firstly, penny production provides an economic advantage to the state of Tennessee. Those who attack production such as U.S representative Jim Kolbe do not do so out of moral righteousness, rather they act out of ulterior motives., “Kolbe’s home state of Arizona is rich in copper – which makes up a bigger percentage of the larger – denomination coins that might be more heavily used if the penny were discontinued.” (Source A) Banning production of the penny in such example would prove detrimental to Tennessee’s economy, a state which relies on the famous penny. Furthermore, there are a few individuals who seem to have a grudge...
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...Benjamin Franklin once famously said ‘a penny saved is a penny earned’, but with changing times a penny saved may now be 1.5 cents wasted. Pennies are the smallest coin now in American circulation, but it may be time to upgrade to the nickel and leave the penny behind. The US government have removed small-denomination coins before, and like France and Britain before us, the penny needs to move the way its half-cent predecessor did. (Source C) Not only do pennies waste taxpayer money but they increase the environmental problem and are nearly useless in everyday life. Virtually nobody carries pennies around in their pocket for payments, unless they have just received some in change from a previous purchase. Oftentimes, we throw them in a penny jar at the counter, valuing not carrying them over owning them. Outside a collector’s scope, pennies are all but...
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...in a Penny? Determination of the Amount of Copper in a Penny Abstract: Introduction: Prior to 1982, pennies consisted of 95% copper. That year, Congress changed the amount of copper in pennies to 2.5% copper by mass. Both the copper and zinc in pennies can be separated out according to the reactions: Cu(s) + 4HNO3(aq) + 2H2O(l) → Cu(H2O)42+(aq) + 2NO2(g) + 2NO3-(aq) Zn(s) + 4HNO3(aq) + 2H2O(l) → Zn(H2O)42+(aq) + 2NO2(g) + 2NO3-(aq) These reactions produce the complex ions of Cu and Zn: Cu(H2O)42+ and Zn(H2O)42+. Complex ions are made of a central atom covalently bonded to two or more anions or molecules called ligands. Ammonia can be replace the water...
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...the note they will find the challenge: Each player must put on all of the articles in this dryer AT ONCE and have their picture taken. When everyone is finished with the task your team will receive the next clue. DETOUR!! Detour clue card reads:You are on your way to winning this race,Hopefully this detour won’t slow your pace.From two challenges you must choose,Make sure to choose wisely and you can’t lose! | | The challenge details read: Ok players, here are the two challenges, remember you only have to complete one. You also have the option of changing your mind at any point and switching challenges. Here are your options: Option A: Your job is to find a penny marked with the year the birthday girl (or guy) was born. Check anywhere you can. Each of you will be given a quarter to help trade for pennies if you choose this...
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...Pennies can be easily found on the floor, a wallet, or under furniture. Thes are all examples of where you can find a penny. But the problem is pennies still that use or are they just obsolete. The thing is that one of those two things that were mentioned may be true.but the pennies should not be used. Nowadays are pennies still important. The author of “Penny Anti” by John Fund thinks not and it may be true because nowadays not lot of people use pennies they just toss them off or leave them lying around. Nowadays it costs more to make pennies than they really are. Now the government spends $100 million to make pennies each year. This year, the U.S. Mint will churn out 4.3 billion. That is a lot of pennies just so they can be tossed...
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...National feud: Should America keep the penny? Many people pick up pennies on the sidewalk, do you pick them up, or are they worthless? I argue that we should keep the penny! The cost of producing the penny, charities, and America’s history, for these reasons, we should keep the penny! If America gets rid of the penny, we would have to make more nickels. Although the penny is more expensive to make, than it is worth, the nickel is even more expensive. The penny costs 1.8 cents to make,while the nickel costs 9.4 cents to make. So, if we do get rid of the penny, stores would have to round to the nearest 5 cents. Most likely, stores would round up, which would create more nickels in circulation, and less money in your wallet! Secondly, the...
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...Greg Mortenson reflection Leadership is formed through a set of cumulous skills that are enhanced through the experiences of life. It is not something that can become in a single day or even year, in fact there is no person who has mastered the art of leadership. Every leader has his or her assets that contribute to their success, but with all success comes failures and flaws. As George R. Zalucki stated famously “Without failure there can be no success!”, this can be backed up with the experiences of Greg Mortenson, the co-founder and executive director of the non-profit Central Asia institute. Mortenson was climbing one of the highest peaks in the world called the K2 summit when he came across a village in the country of Pakistan. Here he had new customs and traditions to account for. He learned how important praying as a community was and how the community came together for many daily activities. It was important for him to encourage the heart of the villagers so that they would trust him. It was then when a little girl planted a seed into his brain, a seed of education. He had a vision of a better life for the children, especially the girls, in the country of Pakistan. So he made the promise to give this girl and her village a place to learn, and feel safe while learning. When he returned to the United States he couldn’t take his mind of this girl and her village. This is where Mortenson used a set of fine leadership skills, which was to inspire his vision amongst...
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...Weekly summary 3 During this week we learnt about the Pricing and economics of strategy where we denoted that Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors. Personalized pricing extracts the maximum amount each customer is willing to pay for the product. Each consumer is charged a price that makes him or her indifferent between purchasing and not purchasing the product. Strategy refers to the general policies that managers employ to generate value. Value Capture is the process of retaining some percentage of the value provided in every Transaction. For example, if you bring $1 million of revenue to a client, and you charge $100,000, you are capturing 10% of the value you created. The more value you capture, the less attractive your offer becomes. Game theory : Set of concepts aimed at decision making in situations of competition and conflict (as well as of cooperation and interdependence) under specified rules. Game theory employs games of strategy (such as chess) but not of chance (such as rolling a dice). A strategic game represents a situation where two or more participants are faced with choices of action, by which each may gain or lose, depending on...
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...agenda. China wants to be rich and thus powerful. It certainly follows a clear-cut strategy already in place for over 30 years. This helps increase its prestige and power. Its performance in the field of “new” international agenda items (direct human, environment, etc.) lags behind its economic might. China will continue to be the manufacturing plant of the industrial world for many years. Investment in China will be driven primarily by the creation of local infrastructure focused on trade for export markets, whilst Chinese capital markets will still remain inchoate for many years. India wants to be powerful and hence enjoy global prestige. Its competitive edge resides in low labor costs (wages) in certain sectors (textiles, outsourcing, information technology). It has no coherent project of prosperity. Investment will continue to flow from companies wishing to reduce their labor and other production costs by “offshoring” their plant, call-center or web-center operations. Investment will be strong in areas of value-added products, such as chemicals, software and other IT-related industries, but on an insufficient scale to make it boom across all socioeconomic structures. Moreover, capital markets will remain incipient when compared to international counterparts. Russia wants power, prosperity and prestige, but it is uncertain on how to get it. Sometimes it talks and behaves as a superpower. The population of scientists is immense. The Europeanization...
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