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A Step by Step guide to Egyptian Mummification. Mummification was mainly done to high book report wealthy people as poorer people could not afford the process. Case Study Diabetes? The chief embalmer was a priest wearing a mask of Anubis. Anubis was the jackal headed god of the dead. He was closely associated with mummification and embalming, hence why priests wore a mask of Anubis.
Insert a hook through a hole near the nose and pull out part of the brain Make a cut on the left side of the body near the tummy Remove all internal organs Let the internal organs dry Place the book lungs, intestines, stomach and army integrity liver inside canopic jars Place the heart back inside the body Rinse inside of body with wine and spices Cover the corpse with natron (salt) for 70 days After 40 days stuff the body with linen or sand to give it a more human shape After the high 70 days wrap the body from head to toe in bandages Place in a sarcophagus (a type of box like a coffin) If the person had been a Pharaoh, he would be placed inside his special burial chamber with lots of treasure! *To see a more detailed explanation of the mummification process, see another My Learning resource: Make me a mummy! Embalming tips. Services? To learn about an Egyptian tale of how mummification started, see Osiris and Isis: The Origin of high Mummification. Also look on army integrity essays the British Museum's Ancient Egypt website (see Related Links at the bottom of the page) for an illustrated guide to the mummification process. At Harrogate Museums and monster high Arts we run a hands on mummification session on our mummy doll. Learning article provided by: Royal Pump Room Museum | Posted by fashionprincess on 01/05/2017. really helped with my Egypt assignment. Posted by Logan on 07/04/2017. Justus look at step 6. Posted by ghawi on 31/03/2017. this ultimately helped thank you alot. Posted by ashley sanchez paz on no 2 27/03/2017. Monster Report? thank you so much this will help me on my gate project and by the way don't listen to all those haters. Posted by Justus on 22/03/2017.
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Please contact me when you have put out report more information! This was amazing. Posted by My Learning on 06/04/2016. Thanks Jemma! If you click on the link (at the bottom of the page) to the British Museum's Ancient Egypt website, you can see images of the mummification process. Resume At? Posted by high report, Jemma on 05/04/2016. Helped alot but need's more detail and maybe some pics. Posted by Tiki waka on 23/03/2016. Thanks helped a lot. Posted by Izzy on 14/03/2016. Thanks for the help.
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This is a good source to use. Posted by samuel.lee on 28/01/2015. gross, but helps me on my project. Posted by shakari smith on 11/01/2015. this is a useful informational source. Posted by Caroline on 06/01/2015. Extremely gross but very helpful! Posted by PoorlyDrawnLines on report 17/12/2014. This is a very useful website!
As a 6th grader, this helped a lot when I was doing my video project o mummification! I would love to see more of your work, keep it up! Posted by pickle on 11/12/2014. this is gross but helpful. Posted by 1234 on 11/12/2014. Read A Book Write An Essay Scholarship? This very useful :) Posted by Amelia on 06/12/2014. Great as for homework. Posted by krytal on book 05/12/2014. omg this is so helpful thanks. Posted by india e on 25/11/2014. As a 6th grader like me thats learning about Aincent Egypt,mummification,and embalming this REALLY helps!
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Posted by ILoveTKD on 27/10/2014. Posted by Elle on 27/10/2014. This website is so awesome. It puts the mummification process into easy words, but it describes mummification in detail. If there are hard words, this website explains them well. Posted by Julia on 22/10/2014. This is very helpful. Thank you! Posted by woldo on 16/10/2014.
Posted by roby on 16/10/2014. Posted by Roby on 16/10/2014. This helped a lot thanks. Posted by Raquel on 14/10/2014. Integrity Essays? This was good but was not vey specific. Posted by Connor on 13/10/2014. Book Report? This was very helpful thank you. Posted by Saami on 07/10/2014.
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Posted by kate on 03/09/2014. Thank you heaps man on this article! It really helped with my assignment for history! Posted by sarah on 12/06/2014. thanks this helped heaps for my presentation thank you. Posted by john on no 2 30/03/2014. it is really good. bravo. Posted by Courtney on 11/03/2014.
Most of its wrong you don't take the heart out of the body!! Nn. Posted by Vicky My Learning Team on 26/02/2014. Thank you Bailey for your helpful comment. We have corrected our use of the word coffin.
Posted by Bailey on 26/02/2014. Ancient Egyptians used sarcophaguses not coffins. Posted by I LOVE YOU on 21/02/2014. This work of literature has very good info. I appreciate how it is step by step.
Lots of websites don't have this! Thanks so much for high helping me with my Egyptian essay! P.S. the other writers leaving comments need to work on their literature. Posted by francessca on essay on say no 2 drugs 21/02/2014. this was not very well informed. will not be using this info for my project. Posted by BAILEY on 20/02/2014.
WOW WOW WOW HELP FOLL FOR ME AND I MIT SHOW MY CLASS. Posted by Jazzy on 19/02/2014. We're doing an essay on Ancient Egypt, and I learned a lot of cool things from this. : ) Posted by boby on 12/02/2014. Posted by lola on 31/01/2014. this really helped me .its really helpful. Posted by swagger on 30/01/2014. wow this is so cool omg yeah wow. This info was great and I got a B-. YAAAY. Posted by Ryan truax on 29/01/2014. Posted by myla on 29/01/2014. i can't thank u all so much , it's just so cool.
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Posted by Bryant.r on 11/12/2013. Thanks,this is a BIG in my project!But needs a little more details in number 3. Posted by free wilson on 09/12/2013. this is good..it helped me on my project..the only problem i have is thatt it has no details,still. thank you. Posted by Jadon Clay on 07/12/2013. This is the best website ever. Thx it helped me with my essay/project. Posted by Jalen on 05/12/2013. This website helped alot thanks soo much for ur help. Posted by at, Hannah Williamson on 25/11/2013. This website helped me so much with my mummification project. Posted by francis on 22/11/2013.
i love this website it helped me with my mummifying essay. Posted by bobby on 21/11/2013. this website has helped me so much. Posted by Fiona on 16/11/2013. OMG!! This has helped me so much! Do more! Posted by Jessie Curpia-Koan on 12/11/2013. Thanks a million! I've been doing a Egypt report for about 1 1/2 week.
Thanks for your help! I totally passed the monster test! Posted by Michael on 08/11/2013. Yeah, it also does need more description, but I found it on some other websites. Posted by Michael on read write scholarship 08/11/2013.
Dude I have a project due next monday and this helped alot thanks dude. Posted by bob Jones on 08/11/2013. This helped a little but i need a more descriptive step by step process. Posted by Curtis la douceur on 06/11/2013. Monster Book? Posted by Rockey blue on essay drugs 06/11/2013. This is the best place if have a project and it is due the next day. Posted by karine on 04/11/2013. High Report? nothing can be grosser then that honest!! Posted by sophia lynch on 04/11/2013. Integrity Essays? I would not want to be mummified this is so gross.
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Posted by marleny on 24/10/2013. Monster High Report? this is awesome it help my girl with her Egypt project. Posted by paige on 20/10/2013. i think this was good. it helped and was a step step process. Posted by Hi dad on 10/10/2013. Posted by no 2, anonymous on monster high 09/10/2013. you people need to give like a more discriptive step by step guide for this. it hardly helped me on my project. BE MORE DISCRIPTIVE!!
Posted by integrity essays, Lizr on 03/10/2013. This didn't help much because it doesn't say what spices. Posted by lukas on 01/10/2013. Posted by Bob jenkins on high book 24/09/2013. THX SOOOO MUCH it hlelped me so much in my egyptology assignmant. Layouts For Resume? Posted by willis on 18/09/2013.
It help me make a human mummy. Posted by epic dude on 16/09/2013. It helps me with my homework thank you so much. Posted by Egyptian Homework Worrier on 11/09/2013. You guys are AWESOME u helped HEAPS with my assignment. Posted by alex chambers on 21/08/2013. this is high book report, great for assignments on the process of mummification big thanx mate good on ya bro.
Posted by Laiba Wahab on 11/07/2013. It helps in my homework. thankyou. Layouts For Resume? Posted by sammy on 24/06/2013. this really helped with my homework thank you! Posted by THE JANITOR on 21/06/2013. I love this! It helped me with homework! Thanks! Posted by monster book report, andrew hueson on story writing 05/06/2013. This website helped me not do any extra homework.This is report, awesome! Posted by jasmine on 20/05/2013. Thanks a lot really needed it for my big project this made it such a breeze.
Posted by Ninja on 16/05/2013. This helped alot with my homework! Thanks! Posted by irakaur on 16/05/2013. thank a lot even i got it as a homework god i must say it is very hard to find out about mummification. Posted by man2 on 13/05/2013.
Posted by jessie on 11/05/2013. thanks theat helped a lot with my homework on read a book write mummification :) Posted by lola on 09/05/2013. great website love it . Posted by sully on 08/05/2013. Posted by CaMdEnSnAt on 08/05/2013. Thanks a billion i got full marks thanks to this website ! Posted by jennifer on 24/04/2013. I have a Huge project due. You helped a Lot THANK U! Posted by monster book, jojoma on 18/04/2013.
THIS HELPED ME SO MUCH. I would not of understood my home work with u. At? THANK U! THANK U! Posted by Kat1234 on high report 15/04/2013. thanks it me helped a bit but it should explain it more. Story Writing? Posted by Rebecca on 11/04/2013. Helped me loads on a project. Posted by Worgen on 02/04/2013. Thanks so much helped me a lot on high book project! Posted by antonio on 05/03/2013. there has to be more steps but thanks. Posted by maria on 05/03/2013. Essay On Say No 2 Drugs? thank you for the steps.
Posted by book report, Lucien on 03/03/2013. Thanks helped so much with my project. Posted by essays, Duncan Cassidy on 25/02/2013. I thought the heart wasnt taken out because it was thought to hold the person's feelings and soul. Posted by Duncan Cassidy on 25/02/2013. Thanks i can finish my school project now. Posted by Rachel smith on 12/02/2013. Thank you so much know I can finally finish my paper it help a lot oh and monster book report what about the makeup I'm really curious. Posted by alice on 30/01/2013.
really helpful thanks. Posted by anonymous on essay drugs 15/01/2013. Posted by Nathan Dank on 29/11/2012. what about the makeup used to make the face look not so pale. Posted by nene on 13/11/2012. First, his body is taken to the tent known as 'ibu' or the 'place of purification'. Book? There the embalmers wash his body with good-smelling palm wine and story writing rinse it with water from the Nile. Posted by PIPER on 21/05/2012. and they rub the report body with oils. Posted by Dori on 02/05/2012.
yeah the weighing of the heart is a part of the test to get into the after world. Posted by tinkerbell on 29/04/2012. they forgot to say that thay send someone like a messender boy to tell everone of the pharaoh deaf. Posted by chan on write scholarship 16/04/2012. first they would announce the death of someone. Posted by monster high book report, Maria B. on a book an essay scholarship 11/03/2012. They forgot the weighing of the heart! That is monster report, very important so you know how many things to hold the mummy in!
Posted by serena on 05/03/2012. this is a cool one. Posted by Daisy s. on 24/02/2012. today i learned,they took the brain out,first they had to break the nose, and then pull out the brian with a hook bit by bit. The Egyptians thought they have gotten all of it because they have thought the brain was useless. They were finished with the resume services at brain with about 6 to 8 little chunks.*i have more* Posted by christina on 03/02/2012. Posted by My Learning on 03/02/2012.
Hello! Quite a few of you have asked for more explanation on mummification so we have added a link (right at the bottom of this page) to the British Museum's illustrated guide on their Ancient Egypt website. Monster High Book? Have a look - it's excellent! Let us know what you think. Posted by HLK12cutesie on 02/02/2012. You could have at least explained the steps like for example, 1. At? Took out brain using brain hook.. (and how they did it) I'm not saying you explained it horribly, but I'm just saying maybe it could be like that so people can understand it more. Posted by big-h on 26/01/2012. you havent explained why they mummified people very well it could have been more detailed. Posted by Camila G. on 24/01/2012. Monster High Book? I asked for explanation in the process.
I didn't recieve that. For Resume? Add an explanation to the process. Book Report? Posted by TAMIM on 08/11/2011. I want more details about this mummification. Posted by sabrina lee on 05/11/2011. Can i get this instruction with pictures please. Posted by halima on 04/11/2011. my class is going to the museum and were going to see the rosseta stone.
Posted by tayler cox on 14/09/2011. when was it build. Posted by tayler cox on 14/09/2011. i thought that the museum was really like wow. Posted by ruby on 01/08/2011. Posted by anosha khalid on 30/01/2011. a very help ful site for mummyfication.my teacher love that process of mine.which i have copied it from this page. thanks a lot!
Posted by gabrielle jefferson on 27/07/2010. THIS WAS THE MOST HELPFUL SITE TO MUMMIFICATION. THANKS A TONNE! Posted by Bob Green on 31/05/2010. Posted by Anthony Holmes on 18/05/2010. According to practical research by Bob Brier it is impossible to Pull the brain through the nose. The brain matter is too insubstantial. It is proposed that the hook was inserted through the nasal cavity and the brain Whisked up until it was liquid enough to drain out through the nose when the body was inverted. Rather gruesome but there you are! Posted by jhgfd on 09/05/2010. very helpful for my egypt assignmentg.
Posted by 1234512345 on for resume 12/04/2010. very helpful great step by step process just what I needed for my project. My Learning are not responsible for the content on any external site. From Mok the gorilla to Viking rings - fascinating objects from monster report around the world. Copyright My Learning 2017. All Rights Reserved.
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She talked about high how she was never good at playing any sports in gym class and always hated. Cleveland Browns , Forrest Gregg , Green Bay Packers 1057 Words | 3 Pages. 070 Essay 1 My Boyfriend A good boyfriend is a friend, a person to depend upon story writing, whenever help or guidance . is needed. My boyfriend , Xavier is the backbone to our family. He is supportive, hardworking, and loving. Monster High Report! My boyfriend , has been my biggest cheerleader through my triumphs and setbacks. At! The support that I have received from Xavier has helped me overcome many challenging obstacles in monster high book report, my life. He has supported me financially by pitching in for my school tuition and . Boyfriend , Dance , English-language films 349 Words | 2 Pages. environment. Trough my childhood my parents thought me to love sport and story writing I realized the importance of . sport in monster high book, our life.
It’s very important to trough life we gain love for a specific sport, in story writing, some way sport will repay us. We all tend to book trough sport gain friends and to make sport itself our friend. In my spare time I hang out with a ball. Now that I mentioned the ball, we narrow the circle of sports that we can discuss. Of course, even thought I said a few sentences about sport in general, my goal is to.
2009 singles , American football , Association football 1025 Words | 3 Pages. The three primary love styles in Hendrick and Hendrick (1986) are Eros (romantic, passionate love ), Ludus (game-playing . love ), Storge (friendship love ), and three main secondary styles: Mania (possessive, dependent love ), Pragma (logical, “shopping list” love ), and Agape (all-giving, selfless love ). Altogether, these love styles are all equally valid ways of layouts loving. In order to determine your love style, you can complete a brief quiz. Hendrick and monster high book Hendrick (1986) developed a self-report questionnaire. Agape , Billboard Hot Country Songs number-one singles , Enzo Emanuele 1648 Words | 5 Pages. S P O K E N P O E T R Y Human beings are funny. They long to read write scholarship be with the person they love , but refuse to admit openly. Some are afraid to high report . Essay Drugs! show even the slightest sign of affection because of fear -fear that their feelings may not be recognized, or even worst, returned.
But one thing about monster human beings puzzles me the most is their conscious effort to be connected with the object of resume services at their affection, even if it kills them slowly within.so heres something i've but putting together slowly, about tyler. 2002 singles , 2006 singles , 2007 singles 1197 Words | 3 Pages. Love is a great passion. It is natural that man loves his native country. The same case in with me. I . love Pakistan because it is my dear homeland. It was a dream of monster high report Allama Iqbal. Layouts For Resume! And the Quaid-e-Azam struggled hard against report the Hindus and resume services the British to monster high report turn it into a reality. It appeared on the map of the world on the 14th of August 1947. I love Pakistan because God gave it to us as a gift to read scholarship fulfill our desire to high book make it an ideal Muslim State.
We got it in story writing, the name of Islam. It was the duty of. India , Indus River , Indus Valley Civilization 1938 Words | 5 Pages. My First Love Finally I heart the million-dollar word, yes . Monster High Report! after the eight-hour long walk with her. My best friend was mad at me . I could see the anger in her eyes like a black cloud ready for a thunderstorm. For Resume! It was five years ago, janaury 7th ,a sunny warm day at about 10:00 AM, I met her at the bus stop after wating for monster high an hour.With in our three years friendship, I saw her get angry many times, but not like on that day. Resume! I said sorry more than.
2006 singles , 2007 albums , 2008 singles 1130 Words | 3 Pages. so is love and it gets thrown around like it is nothing. Monster High! Before you let go, remember the diabetes mellitus reason why you were hanging on. You are never . really living until you found something to die for, I am at this stage in monster book, my life where I am just daring someone to push me off a cliff just to read a book scholarship see if I am strong enough to monster high book report fly, and for layouts a moment the world fades away, sometimes you miss who a person really is I guess when you are young, first impressions are everything, promises are meant to high report be broken, I learned. 2006 albums , 2006 singles , 2009 singles 1392 Words | 4 Pages. Relationships Advice Paper: Dr. Roof Letter Should I Give my Ex a Second Chance?
Dear Alex,Thank you for writing me with regard to the issue of giving your ex - boyfriend a second chance or not. According to your letter, you . and your ex - boyfriend were really in love since you two both decided to move together from story writing L.A. to San Francisco for monster high report school. However, your relationship was broke up but you didn't mention in for resume, your letter what causes this. So I assume that your ex - boyfriend cheated on you and you no longer want to keep the relationship and book decided to break up with him. 2007 singles , Human bonding , Interpersonal relationships 1575 Words | 4 Pages. Narrative Writing Essay My First Love is My Last . As a senior in no 2, Highschool I was enrolled in three AP classes, went to report a bible study two nights a week, and services at participated in gymnastics, cheerleading, and track. I guess you can say that I was a pretty busy kid and I never had a ton of high book report time to hangout with my friends. Services At! I was able to go to one football game this season, and high report that was the most I have been able to be with my friends in a long time. To ? exacerbate? my problem of not ever having any free time, my Mother is a very strict. Logical fallacies , Rhetoric 1801 Words | 5 Pages.
My Ways to Love my Country By Joannah Kaye B. Borallo Small.Young.Innocent.Incapable.Weak. These are words of . An Essay! how most of the people describe me especially now that I am taking the risky path of being a doctor. They believe that I would fail or that maybe, I can’t do anything with the course I am taking. However, I just laugh their thoughts off. This is because for me, I know I can do things and in fact as of now, I am starting to become a good doctor already by planning and book report doing things on how. Better , Filipino language , Filipino people 873 Words | 3 Pages.
My Mom The people that get to know us best, from a book write scholarship our virtues to flaws, are our parents. They have the greatest influence in our . High! life because they are the people we see the most and have known for longest. They sacrifice many luxuries in order to give their children the best life possible. Story Writing! My mother has had a huge impact on my life and it is because of monster book her that I am the person I am today and today where I am . Most people say I am a lot like mother, both physically. 2008 singles , American magazines , English-language films 518 Words | 3 Pages. What Happens When I'M Bored - I Randomly Create Verses to This Poem. My Boyfriend variation: My boyfriend gave me an apple, My boyfriend . Layouts! gave me a pear, My boyfriend gave me a kiss on the lips and threw me down the stairs I gave him back his apple I gave him back his pear I gave him back his kiss on the lips and high book threw him down the stairs I threw him over London I threw him over France I threw him over read a book an essay scholarship, Disney Land without his under pants He took me to the beach, To see a pretty pearl, But when I wasn't looking, He kissed another girl. Monster High! I took. American films , Chewing gum , Childhood 380 Words | 3 Pages. Reason I love Cats . The first day I brought Mimi home , I regretted it immediately.
She was a . Resume At! kitten then and was crying all the time . It was my first cat and I did not know what to do . I kept thinking that there must be something wrong with her . I wanted to monster high bring her back to the pet shop but I decided to just wait and see what happen . Finally Mimi got used to her surroundings and she became my best friend . Caring for a cat means much more than simply making sure. Cat , Love , Mind 705 Words | 4 Pages. In my free time, I enjoy a plethora of activities but I have come to the conclusion that basketball is . my all-time favorite pastime. Watching the sport on television is just as enjoyable as playing it. Strangely, basketball has always seemed to permeate my life in one way or another. Sometimes, I feel like I was born to army dream, live, and even sleep thinking about basketball. Monster Report! Basketball is such an amazing sport and I cannot fathom living in a world in which the case study diabetes sport did not exist. Basketball , Game , High school 945 Words | 5 Pages. The Day I lost Him Do you ever look at your boyfriend /girlfriend, best friend, brother/sister, or anyone you love . and wonder what would life be like without them? Or do you ever imagine that they would just be gone one day? I never think that way.
I think that everyone is invincible and everyone is going to monster high book report live forever. That is how it seems at case mellitus, least. That is definitely not the high book report case. I guess you could call me an idealist, but in reality people that you see everyday could be gone tomorrow. That. Love 1269 Words | 3 Pages. from interpersonal affection ( I love my mother) to pleasure ( I loved that meal).
It can refer to . an army essays emotion of report a strong attraction and personal attachment. It can also be a virtue representing human kindness, compassion, and services at affection—the unselfish loyal and benevolent concern for the good of another. It may also describe compassionate and affectionate actions towards other humans, one's self or animals. Ancient Greeks identified four forms of monster high book love : kinship or familiarity (in Greek. Attachment theory , Friendship , Human bonding 942 Words | 4 Pages. OMG! it’s Nathan, what do I do? Do I smile? Do I say Hi? Do I like okay, I should’ve . worn my lip gloss! (Big smile to Nathan) Nathan: (Looks at her, looks away) Brooke (smile turns to sad face, to cry, run home) HOME Brooke: Why doesn’t he love me like I love him. Does he even notice me? (falls asleep) (Wake up) (alarm clock ring) Brooke: Ugg, What’s the point of even waking up when the guy I love doesn’t even love me back. (looks at clock) uhh I have to wake up to go to school.
2006 singles , 2009 singles , Alarm clock 389 Words | 3 Pages. Love is something that means very different things to army integrity different people. Monster High Book Report! For some, love can be purely romantic, or even purely . sexual. For others, real love is utterly unconditional and only truly exists between family members, or between people and army essays a deity. High Book Report! And for some people, love is fluid, ever changing, and everywhere, and is felt for family, friends, partners, pets, and even inanimate objects, dead artists, and diabetes fictional characters. None of these people would be right or wrong, but one thing. Bonobo , Emotion , Feeling 930 Words | 3 Pages.
eyes open or closed? I bet you closed your eyes. High! Isn’t this the essence of read a book “ love is report blind?” You kiss them without fear, and . without any sense of danger. You do not have to no 2 drugs see the one you love to know you love them. Monster High! You accept love on blind faith.
Love is blind and for a moment we use this phrase to justify the army essays obvious flaws we do not recognize in the people. High Book Report! Lovers are oblivious to essay no 2 the truth and therefore unable to be clear-sighted. My perspective is that we are blinded by love and we act carelessly. Abuse , Bullying , Interpersonal relationship 1019 Words | 3 Pages. Carla Barcoe 4 Glyn-Y-Gog Rhoose CF62-3LJ 07817424729 firstname.lastname@example.org Profile Self-motivated, hardworking and ambitious. I . have the monster high capability to work on my own initiative as well as part of a team. A talent for building a strong rapport with both clients and team by using excellent communications skills is one of my strengths.
Work Experience October 2010- Ongoing – Waverley Care Centre * Personal care. * Personal hygiene. * Using equipment * Feeding. . 1913 , 1916 , 1921 279 Words | 3 Pages. My Love for Reading and Writing Background: My name is Qianqian Wang, an international student from China, . Story Writing! having been in U.S.A for monster high report studying since June. After three-month practice, I began to write my first essay, recording how I learn to read and write and my love for them. When I was at poppy patch, my aunt gave me a series of animal stories as a birthday gift. Simple enough, I suppose. I cannot recall its particular cover, nor can I remember the plot. I cannot recite its facetious words. High school , Middle school , Secondary school 1313 Words | 4 Pages.
My Best Friends Wedding I am feeling lonely and sad. It is a cold and blustery Wednesday in November. Tomorrow will be the no 2 . first Thanksgiving I have spent without my family. My boyfriend at the time asks me to come to his house and meet his parents and join them for their thanksgiving feast. Though it is quite a tempting offer, I don’t feel up to that level of social activity, so I politely decline and mention that he and I could have some quite time once he gets back.
He seems ok with that. 1995 singles , 2000 singles , 2006 albums 1333 Words | 3 Pages. “ I Loved You” - Pushkin One of the most favorite subjects of Pushkin was love . Monster High Book Report! “ Love and friendship are popular . subjects of the authors, and on say drugs the reason that makes him happy and monster book sad. Integrity! The color of his poems, especially in love poem, is the beauty of humanity”, said Belinxki. One of the most famous poems of Pushkin is I Loved You. When he lived in high book report, Petersburg, Pushkin usually met people in love with art in the President of the story writing academy of art’s house, and the most important reason was to meet daughter. Aristotle , Emotion , Love 968 Words | 3 Pages. P.S. I Love You A.G. What would you do if the love of your life passed away?
P.S. I . High Book Report! Love You analyses this situation with grave emotion. Thesis P.S. I Love You is one of my favorite movies because the a book write actors show emotions in a realistic sense, the setting and shooting of the film portrays the book beauty of Ireland, the storyline (based off of a true event) is resume at truly heart-wrenching, and Richard LaGravenese shows pure directing talent in book, this film. TS All the actresses and actors in this film were. Actor , Director , Emotion 979 Words | 3 Pages. Gorilla, My Love In the layouts short story, “Gorilla, My Love ”, author Toni Cade Bambara narrates a story . about the way children overanalyze little white lies. Bambara tells the story as if a child was talking in first-person view. Throughout the story Hazel talks about different instances of book report her share of for resume what she thought was being lied to. The read was very enjoyable because it was something that I could relate to.
For instance, when Hazel and her friend are at the movie theater and she says, “ …we yell. A Story , Emotion , English-language films 1694 Words | 4 Pages. Love- An Extended Definition Essay. LOVE What is the high book report definition of love ? The formal definition states that love is; 1. Read A Book! Intense affection, 2. A feeling . of attraction resulting from monster sexual desire, and 3. Enthusiasm or fondness. Although these definitions are all true there is a deeper meaning to this word, this word can be a feeling, a choice, even a state of mind. Study! Love is a many splendid thing; you cannot live without it even if you try it is not possible. It is not possible to live without love because each and report every person holds. 2006 singles , Emotion , English-language films 1377 Words | 4 Pages. we panted through the resume trees, who towered above us, menacingly. I was in love with them, with the fog of my breath. . Book Report! I was in read scholarship, love with the fall.
Nevertheless, I was detached from it. It was as if I was looking upon the scene from monster another point of view. I can still see him, the story writing way I did then, just as clearly as I could see the night. I can still see the gravity of his countenance. High! That part of me, that memory, will never grow old. I remember how we trudged. Words were not exchanged, not yet. Resume! Silence.
2107 Words | 5 Pages. They say in love nothing is impossible. Height, weight, distance and monster high book report of course age is just a damn number. Study Mellitus! To love is a great . feeling but to be loved is a much greater feeling. But it’s hard to high report be hurt, that feeling like when your heart’s gonna burst and services while in pain, you’re just crying and crying and book crying. The first time I saw him, I was starstrucked! “Wow, he’s so tall and kinda handsome. Does he have any talent and is he that smart enough?
If he does, then he’s already!” When my classmates. 2005 singles , 2006 singles , 2007 films 3043 Words | 7 Pages. Josh . my first boyfriend . ( 12/9/02 - 14/7/05 ) It was raining that night,shadows covered the dimest moonlight and the . sound of silence was heard.Crying with my eyes all red and sore, i planned to jump off this building for a long time.TO fro i wanted to commit suicide,but my bravery was not there.Suddenly my mind was full of flashbacks where my mum and integrity dad wanting to monster divorce, my mum shouted out that she hates me and saying that my presence has made her life as if in case mellitus, hell.My body. ARIA Charts , Bisexuality , English-language films 684 Words | 4 Pages. ? Is It Love ? Jazmine M Hawkins Georgia Perimeter College Abstract This paper explores the findings of . multiple researchers’ theories of love ? It breaks down what we can be classified as passionate love and compassionate love ? What does love have to do with your attention span? Some researches define love scientifically saying that love is high report a production of a mixture of hormones and chemical reactants while others say love is self-defined and can only be judged. Attachment theory , Developmental psychology , Human bonding 1362 Words | 4 Pages. For the read a book an essay scholarship purpose of this essay, I will first define ageism qualitatively and give examples of monster book report it in its different forms; including: structural, . institutional, interpersonal and embodied ageism.
I will discuss the various consequences that this can and does have for our society with the aid of the theories of Stereotype Embodiment and for resume Stereotype Threat. I will then apply the high book theories of functionalism, symbolic interactionism and conflict as possible explanations. I will employ Karl Marx theory of. Ageing , Ageism , Discrimination 1283 Words | 4 Pages. music. It has been my most favorite genre of music for read write an essay many years. With such popular artists having such control and influence over America’s . Monster Book! youth, it is easy to understand why so many people have problems with hip-hop and rap music. It is often said that rap and hip-hop music is misogynistic and praises violence. Drugs! Also, it is argued that this genre of music deepens generalizations and stereotypes about the African-American community.
Just how Tom Bissell describes his love for videogames in the. Funk , Gangsta rap , Grandmaster Flash 1022 Words | 3 Pages. Sarai Fuentes March 10, 2013 Professor Crowder English 170 The way a person expresses his or her love to monster book another person should not bother . other people. In the article “ I Just Called to integrity Say I Love you” by Jonathan Franzen he clearly states that he hates hearing other people saying the words I love you to another person. He believes that the privacy of others should be kept to themselves and monster high their personal feelings should not be said out loud in public places. Although this may be true there. Brian Wilson , Expression , Father 970 Words | 3 Pages. How do I love thee?
By Elizabeth Browning The poem, How do I love thee is a passionate . affirmation of love from Elizabeth to her lover Robert Browning. Resume Services At! In this poem, Elizabeth declares her spiritual and monster high report pure love for story writing Robert and describes the many ways in which she feels for him, and therefore defines her love . On the poem she express three different ideas of love which are the depth of her love , an attempt to describe the indescribable and the comparison to known feelings and interactions. Elizabeth Barrett Browning , Florence , Love 710 Words | 3 Pages. marriage bond. I am neither a social scientist nor a professional doctor, but I am fully aware that most of what . I have written is contrary to high current trend people. But I do feel the urgent need to share these to make a life of scholarship love , pure, honest, and monster high report committed.
My hope is that all of us - all men and case study mellitus women of monster high book report our time- might start to consider God's purpose for life, relationship and sex after complete study of army integrity this book and will get a new direction to successful their love relationship till end. Arranged marriage , Boyfriend , English-language films 2266 Words | 7 Pages. I Love Being Poor Money and social class is such a touchy subject. Then again everyone loves it. People that . High Book Report! don’t have it will do anything for it, and people that have it will do everything to write scholarship keep it.
Money is a drug in a way. People feign for monster it just like a drug attic feigns for whatever drug they are addicted to. Therefore the question of what is the difference between the rich, and middle class, and story writing the poor? What are the causes of the increasing gap between the rich and the poor today? Why. Bourgeoisie , Martin Amis , Middle class 1017 Words | 3 Pages. everything that comes with being in monster book report, high school, I mean who wouldn’t?
Everyone says that high school is the best four years of your life. Now . Mellitus! that I’m months away from high book report graduating, I can’t say they were my best years but I can say they were my most educational years, of course I wouldn’t say that they weren’t fun because they were. Write! When I say educational, I mean I’ve learned so much about monster book myself and at so much about life. Monster High! I learned what the words family, love , betrayal, law and life meant. Army Essays! All these events. American films , Education , English-language films 1097 Words | 3 Pages. Today, I am going to monster high talk about case study mellitus “Crazy For Love ”. Monster High Report! Or it can also be called as “Obsession on guys”.
Actually it’s common to happen . on resume at, girls, and we do not have to monster feel shy about it. We girls love to integrity essays talk about guys, hang out with them, or chase after them. But, when our lives become obsessed with getting guy’s attention, we’re heading for book report trouble. In this topic, I’ll share about what these obsession looks like and rediscover ourselves by embracing the fact that God deeply loves and cherishes us. . 2008 singles , Billboard Hot Country Songs number-one singles , Christianity 1366 Words | 3 Pages. “The Love of diabetes My Life” In today’s society the monster book report perspective on love has changed significantly. Every day people’s . viewpoints of love are altered by many things in resume, their surroundings such as social media, television, school, and home life. The amount of failed relationships has increased significantly over the years. High Report! It is very difficult to layouts for resume grow up knowing the monster high true meaning of love while receiving so many messages that show you that most or all relationships are bound to fail. In the short story “The.
Billboard Hot Country Songs number-one singles , Can't Help Falling in Love , Emotion 1775 Words | 4 Pages. Fatherless Love The vision of read my Fatherless Love have became more and more of a blur to my . past childhood memories of not having him there in my life as a young girl. This is my life not a story I always wanted to be daddy’s girl growing up. Not having my father there when I became mature or when I had my first break up played a major impact in my young life. ‘‘Dance With My Father’’ by Luther Vandross is a song that is very dear to me as he sings the lyrics to this song. Every time that I listened. 2006 albums , American films , Emotion 1309 Words | 4 Pages.
non-living object. Monster High Book! That feeling is love . However, when one is forced to define love , he or she often turns to romance to find the . Army Integrity! meaning. It is described to be everything pink and pretty, full of hearts, roses, cuddly stuffed animals, chocolates, kisses, and monster high book report hugs. Love is also expressed as the butterflies in the stomach, hair on the back of the at neck rising to the occasion, hesitant lump in high, the throats, giddiness in the eyes, and fireworks in the hearts. However, love exists outside the realm of romance. Emotion , Love , Outline of self 1281 Words | 4 Pages. What We Do for Love “Rapunzel’s life turned around the case study diabetes day a prince climbed up her hair and into her stairless tower” (Weitz). Rose Weitz . talk of report things women do for love , and believe it or not, hair is actually a big factor in how women live their lives. When I first started reading this I thought how bizarre this was, and how on earth do women use their hair to get what they want. Then I just realized, before I even sat down to start reading this essay, my boyfriend was in the room. A Book An Essay Scholarship! Funny.
Aerosmith , Mind , Need 1231 Words | 3 Pages. Love ; how much is hiding in these four letters, people all over the world love each other. Love is a great power . which makes life so important. I think that without love , people can not live in high book, this world. Essays! Some people have already met love . When I was growing up, I was always told that there is someone in this beautiful world for high everyone, and I never seemed to believe it. Story Writing! I had been heart crushed by a guy I thought I loved, so ever since then, I thought true love could not be real. High Book! I always dreamed. 2007 singles , American films , Can't Help Falling in resume services, Love 1490 Words | 4 Pages.
is the theme of love . Philia, Eros, and monster book Agape are the three types of love present in integrity, the play and are what represent the theme . of love . These three types of love , Philia, Eros, and high book Agape are expressed by the different characters in the play. The expression of the layouts for resume theme of high book love in the play is not just there by accident; William Shakespeare put it in this comedic and romantic play with a purpose. Philia is army one of the three kinds of love expressed in the play. The type of love that Philia represents. Agape , Friendship , Greek words for monster report love 1173 Words | 3 Pages.
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NYU Steinhardt School of Culture, Education, and monster high Human Development. This section describes the dissertation format that all NYUSteinhardt doctoral candidates are required to follow. Dissertations must adhere to services at, these requirements in order to book, be accepted by the Office of Doctoral Studies for the scheduling of the final oral examination. Please read this section carefully and contact the Office of Doctoral Studies if you have any questions. Faculty policy leaves the choice of a style manual to the doctoral candidate with the study diabetes mellitus advice and consent of his or her committee. Generally, candidates are urged to learn and use the manual most often required for scholarly writing by monster high book report, journals within their disciplines.
Typically, the following style manuals are used by NYUSteinhardt students: The most recent editions of the chosen style manuals should be used. Your printer must produce consistently black letters and for resume consistent margins. Sufficient darkness is high book report also necessary for any supporting materials, such as tables, figures, drawings, pictures, etc., -- either as originals or as copies -- that you may need to append or insert in your manuscript. Study Diabetes Mellitus? Your dissertation will be published by monster high report, ProQuest UMI which requires clear, high-contrast characters and images. As a guide to the quality that will be obtained, you can photocopy a sample page at 75% reduction to evaluate the readability and clarity of the print.
The School and ProQuest UMI allow students to use typefaces that are between 10 and 12 points; however, because 10 point can appear too small in most typefaces, 12 point is case generally preferred. A smaller or condensed typeface can be used for tables that otherwise might not fit across a page within the correct margins, however, mixing typefaces is otherwise not recommended. Underlining or italics may be used for statistical symbols, book titles, or definitions (but use either one or the other consistently throughout your manuscript, including tables). Monster High? Headings should be underlined when appropriate and not italicized. Integrity Essays? Bold type should not be used in the manuscript.
Do not justify the high book report right margin of your text; keep it left aligned like the story writing text shown here. To assure proper binding and for ease of reading, the following margins are required: Left margin : one and monster high book one-half inches for all pages . Right margin : one and a book one-half inches for all pages , with no intrusion of letters or anything else into the right margin. Top margin : one-and-one-quarter inches for all pages except the high first page of the Acknowledgments, Table of Contents, List of Tables, List of Figures, each chapter, Bibliography, and essay on say no 2 Appendices which should begin two inches from the top edge of the page. High Report? Bottom margin : one-and-one-quarter inches for all pages. Page numbers for all pages preceding page 1 of Chapter I (lower case roman numerals for Acknowledgments, Table of Contents, etc.) should be placed three-quarters of an for resume, inch from the bottom of the page, centered between the left and right margins. Page numbers from page 1 of Chapter I through the last page of the last appendix should be placed three-quarters of an inch from the top or bottom, centered between the left and report right margins. See the next section for diabetes sample dissertation pages.
Avoid leaving more than two inches of white space without type. This applies to tables and figures as well as to text. A table or figure should be inserted in the text as soon after it is first referred to where it will fit in its entirety on one page. Leave three blank lines between a table and text or text and a table; the same for figures. Continue your text if you can fit at least four lines after it. You may have more than one table on a page and you may have a table, discussion, and a table. The same procedure applies to high report, all illustrative material. Double space the entire manuscript with these exceptions (which should be single-spaced): chapter titles, appendix titles, headings, and layouts for resume subheadings of more than one line; block quotations; column headings and lines that run on in tables; bibliography or references entries -- double space between entries; footnotes; figure captions; explanatory material for figures, tables, and illustrations; and appendices -- the spacing will vary depending on the source and content.
APA style requires writers to double space all typed material, including the exceptions noted above. If you are using APA, the above rules supersede APA rules in most cases. High Report? You have the option, however, of double spacing your references and block quotations; MLA style users also have this option. The title page is counted as page one and the copyright page as page two, but numbers do not appear on them. Lower case roman numerals (iii, iv, v, vi, etc.) are used for all subsequent pages up to the first page of the text (page 1 of Chapter I) and essay on say should be placed three quarters of an inch from the bottom edge of the paper, centered between the margins. Beginning with page 1 of Chapter I, Arabic numbers are used and are continuous through the last page including all appendices. Report? Page numbers for all pages in the chapter, including the first page of each chapter or major section, should be placed three quarters of an inch from the top or bottom edge of the on say no 2 drugs paper centered between the margins.
The material of your manuscript should be ordered as follows: title page; copyright page; acknowledgments; table of contents; list(s) of tables, figures, charts, graphs, musical examples, illustrations, etc., if used; preface or forward, if used; the text; bibliography; and appendices (if any). Please see the sample title page below. You are required to follow that format exactly. You will have the option to monster high, have your dissertation copyrighted when you submit it to Proquest/UMI for publication. You should include a copyright page with your name and read scholarship copyright date in the middle of the page, centered left to right (between the margins) and top to bottom.
Please note that the copyright date is the book report year of your degree conferral. Follow this format: The copyright page is page ii of the pages preceding the text (the title page is understood to be page i), but no number should appear on either the title page or the copyright page. Table of Contents and Lists of Tables and Figures. Because a dissertation does not have an index, your Table of Contents should be as comprehensive as possible. Include all headings and subheadings, exactly as they appear in layouts the text, up to and including Level 2. Including lower level headings is monster high report optional. (See sample Table of Contents in the next section.) Note that the indentation of a heading used in the Table of story writing, Contents corresponds to monster book, the level of the heading. The following illustrates this: You should supply the reader with lists of tables, figures, and any other illustrative material used in your dissertation. See the sample lists in the next section. Lists of musical examples or reproductions of art, or information about films, follow the same form as that used for lists of story writing, tables and book report figures. Chapter headings and titles appear as follows, beginning two inches from the top of the no 2 page:
Headings within the chapter should indicate the weight you assign to particular ideas by the form of headings suggested in book the style manual you have selected or the army form suggested below. Leave three blank lines (i.e., begin typing after two double spaces) before each heading and after each major section and chapter title. If one heading immediately follows another, leave only one blank line (a double space) between the two. Leave one blank line (a double space) after each heading. Capitalize the first letter of book report, each word of headings except for articles, conjunctions, and prepositions. The following is one way in which to order headings and to type them. Students following APA style may use the format in the APA Style Guide, however, the format below is preferred for NYU Steinhardt dissertations. See the essays sample page 1 in the next section for an example of heading placement. Be sure that no heading appears at the bottom of a page without at least two lines of text beneath it.
The Table of Contents will contain all Level 1 and Level 2 headings exactly as they appear in the text. It is not necessary to include Level 3 or lower-level headings in report the Table of Contents, but you may if it provides the reader with more useful information. Chapter numbers are upper case roman numerals (with no period), e.g., CHAPTER IV, to differentiate them from any other numbers in the text. All other items requiring numbers should have Arabic numbers. Read? Appendices, should be designated by capital letters, e.g., APPENDIX A, APPENDIX B, etc.
Use numbers or letters for high report other items only when necessary. Use 1) in the text and 1. in a set-off list; a) in the text and integrity essays a. in monster a set-off list -- not (1) or 1). Layouts For Resume? or a.), etc. If items in a numbered list run onto two or more lines, you may let the additional lines begin at the margin or indent the entire paragraph to the right of the numbers. Numbers beginning a sentence, as well as numbers below 10 (or, if you prefer, 12) should be spelled out when they appear within the high book report text. Reduction of story writing, Tables and Other Materials. If a table, appendix, illustration, or graph is book report too wide or long, or both, to fit within the specified margins, have it reduced, or if textual material, type it using a smaller font. Whenever possible, avoid inserting tables which must be read by essay, turning the book sideways. If such a table is necessary, be sure to insert it with the heading to the spine or binding. You may also use a condensed typeface. For style guides other than APA, if you have more than one work by the same author, do not repeat his or her name over and over.
Use ten underscore characters, ending with a period if the author is exactly the same as the high book previous one, or with a comma if the author is the first of case study, a series of monster high report, new authors, as shown below. Single space the entry; double space between entries. An Essay Scholarship? Indent the second and subsequent lines one-half inch. Note that authors with two initials have a space after the period between each initial, e.g., Smith, A. B., Jones, M. Monster High? J. Do not allow initials to break between lines; keep them together on one line or the other. Regardless of the style guide you use, avoid having one or two lines of an entry on one page and the rest of the citation on the next page. The entry should be cited in its entirety on services at one page or the other. The way you cite an author in monster your manuscript is based on the context. If you are attributing an idea that you paraphrased to someone, use the name and date (according to APA style) such as (Jones, 2002), or as shown in the first sentence below. On Say No 2? If you are.
using a direct quotation, use the same format, but you must include the page number where you found it, as shown in the second sentence below. Also, specific information or ideas need a page number even if paraphrased. Monster High? For example, the following brief passage refers to the same publication by a hypothetical author: Review the whole manuscript to be sure that every work referred to layouts for resume, in the monster report manuscript is essay on say cited in the text (or footnotes) and included in the bibliography. Four or more lines of high report, a quotation should be set off from the main text with a double space, typed single spaced with no quotation marks, and the entire block indented one-half inch. Quotations within these block (or indented) quotations may use double quotations. The first line of the quotation is not indented; however, the first lines of new paragraphs within the quotation should begin with an additional indent of one-half inch. Students using APA or MLA style may double space block quotations.
Each appendix should have the proper designation at army, the top of the first page. A title page does not need to be inserted before each one. Use the following format, centered between the high book report left and right margins, beginning two inches from the top of the page: PARTICIPANT CONSENT FORM. If you have material that, because of its format, needs to have a title page (because the story writing title doesn't fit on book report the same page as the army integrity essays material), you need to consistently use title pages for all appendices. Avoid it if you can. Again, all material in an appendix must fit within the overall page margins.
It is necessary to obtain letters of permission for high book report the reproduction of any copyrighted material which exceeds the Federal law pertaining to story writing, Fair Use. Copies of those letters will be uploaded to Proquest UMI with your final dissertation. High Report? Copies of the letters do not need to essay on say, be included in the dissertation. The abstract is high book a brief summary of the contents of the dissertation. Begin typing the abstract two inches from the top of a blank page with no heading. The abstract should be typed double-spaced with the story writing same typeface and margins as the dissertation. The length of the abstract should be limited to 350 words. The abstract title page is identical to the dissertation title page with one exception: the abstract title page has the words An Abstract of monster high, directly above the title (see Sample Title Page in layouts the next section). Report? Each abstract is stapled in on say no 2 drugs the upper left corner and kept separate from the dissertation. Monster Book Report? The chairperson of the a book an essay scholarship dissertation committee should sign one copy of the high book report abstract title page. The following section includes sample dissertation pages which should be followed carefully.
Refer to the preceding section for more detailed information on format requirements. Students should follow the instructions on these sample pages rather than using a dissertation from the army integrity essays library (or elsewhere) as a guide. Format requirements differ from year to year and from school to school. This site, and all its contents, are Copyright by New York University. All rights reserved.
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economics aqa essays 1010 N HANCOCK ST, PHILADELPHIA, PA 19123, USA. Copyright 2017 ghostwritingessays.com. Economics Aqa - Ghost Writing Essays. This Answers book provides answers for the questions asked in the workbook. They are intended as a guide to give teachers and students feedback. The candidate responses supplied here for the longer essay-style questions are intended to give some idea about how the exam questions might be answered.
The examiner commentaries (underlined text) have been added to give you some sense of what is monster high rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions but they can be treated as one way of approaching questions of these types. Topic 1 The firm: objectives, costs and case study diabetes revenues 1Both private and report public companies are privately owned capitalist business enterprises. The difference stems from their ownership. Private companies are owned by private shareholders who can choose the buyer of their shares. Public company shares are listed on the stock market, which means that they have to comply with the rules of the stock market and any member of the public can buy shares in story writing the company. An excess of high, sales receipts over the spending of a business during a period of time, which can be calculated using the case mellitus formula: profit = revenue – costs. 3At any level of output, revenue is calculated by monster high, multiplying output by the price at no 2, which each unit of output is sold. In perfect competition, because it is always possible to increase sales revenue by selling more units of monster high book report, output, the revenue-maximising level of output does not exist. In other market structures, including monopoly and oligopoly, marginal revenue falls as more units of the good are sold.
Revenue maximisation occurs at the level f output at which marginal revenue is zero (MR = 0). By contrast, in all market structures, including perfect competition, profit maximisation occurs at the level of output at which marginal revenue equals marginal cost (MR = MC). 4An entrepreneur decides on questions such as how, what, where, how much and resume at when to produce. Entrepreneurs decide how to employ the factors of production, and they bear the business’s financial risks. In small businesses, the book entrepreneur is often the founder of the firm, building the business by investing his/her own time and for resume money. The entrepreneur directly manages the high business and takes the essay no 2 drugs important decisions about its direction and strategy.
5The management could control information and take decisions without the shareholders being able to influence the decision or even being aware of an issue. 6The key difference between the short run and the long run relates to whether factors of production are fixed or variable. In the short run, at least one factor of production (usually assumed to be capital) is fixed. High Report! Labour is assumed to be variable. In the long run, all factors of production are variable and none is fixed. This question is the read a book an essay scholarship obverse of question 6. A fixed factor of production is high one that cannot be increased in layouts the short run, normally land and capital. A variable factor of monster book report, production, normally labour, can be increased in the short run. 8The law of diminishing returns sets in when units of a variable factor of production, such as labour, are added to read a book write an essay, fixed factors of production. Eventually the extra output (marginal returns) produced by high book report, the marginal worker falls to be less than the marginal product of the previous worker added to the labour force. (i)The firm increases the mellitus scale of monster, production and experiences a more than proportionate increase in output. (ii)The firm increases the scale of production and experiences a proportionate increase in output. Layouts For Resume! (iii)The firm increases the scale of production and experiences a less than proportionate increase in output. 10 [pic] 11Average variable costs are total variable costs divided by monster high book report, the size of output. Average total costs are total costs divided by essay, the size of output.
A firm’s average total costs can also be calculated by adding its average fixed costs to its average variable costs. 2Technical economies of scale occur when a firm’s production methods benefit significantly from increasing to a larger scale. The productivity increases experienced by a firm in traditional economic theory stem from the larger scale of production allowing for a greater division of high book report, labour and resume at improved specialisation. Hence the firm experiences a technical improvement in production and more than proportionate output gains. An example is provided by report, Henry Ford’s adoption of assembly-line production in his car factories in the early years of the 20th century. A bulk-buying economy of scale occurs when a firm gets a discount as a result of buying raw materials or capital goods in bulk. For example, a school may be able to services, buy 100 computers at monster high, ? 300 each, whereas a single computer would be priced at ? 600. Resume Services At! 13(i) If a firm in a perfectly competitive market sets its price above P1, the ruling market price, it will not sell any of its products. This is because its products are identical to those of its competitors, and buyers who possess perfect market information and will buy from the monster cheaper rival firms selling at the ruling market price. ii) If the firm sets its price below P1 it will sell all of its output, but it will not be maximising profit.
There is no sense in doing this, given that an infinite number of layouts for resume, customers are willing to high report, buy the good at the higher price of P1. 14You can understand this question by referring back to the answer to question 3. As long as marginal revenue is positive (at all levels of output below Q1), the monopoly can increase sales revenue by producing and selling more. But when marginal revenue is negative (at all levels of output above Q1), the monopoly can increase sales revenue by producing and selling less. Exam-style answers (essay) 01The laws of case mellitus, diminishing returns and returns to scale are both parts of production theory. (The law of diminishing returns is also known as the law of diminishing marginal productivity. ) Production theory explains the relationship between inputs into monster high report the production process and the output of goods or services that results. The inputs are the services of the factors of production that the firm employs. The basic nature of production is shown in the diagram below. [pic] Production theory divides into short-run production theory and long-run production theory. The law of diminishing returns is a short-run economic law, whereas returns to story writing, scale occur in the long run. The law of diminishing returns has the status of an economic ‘law’, because in the short run at least one of the factors of production (usually assumed to be capital) is held fixed. This means that the only way a firm can increase output in monster book the short run is by adding more variable factors, e. Story Writing! g. labour, to monster book report, fixed capital. Eventually, as labour is added to fixed capital, an extra worker (the marginal worker) gets in case study mellitus the way of the monster book already existing labour force and the additional output attributable to the marginal worker begins to fall.
This is when the law of diminishing returns has set in. Returns to services at, scale by contrast occur in the long run when all the factors of production increase. The firm increases its scale or size of operation. If a doubling of all the inputs (factors of high report, production) leads to a less than doubling of essay on say no 2 drugs, output, decreasing returns to scale have set in. (Other possibilities are increasing returns to scale and constant returns to scale. ) To understand the relationship between the law of diminishing returns and short-run cost curves, consider the diagram on the next page. The upper panel of the diagram shows the monster book marginal and average returns (or productivity) of story writing, labour. Diminishing marginal returns begin at point A. Increasing marginal productivity of labour (or increasing marginal returns) is shown by the positive (or rising) slope of the monster report marginal product curve, while diminishing marginal returns are represented, beyond point A, by no 2, the curve’s negative (or falling) slope. Report! But once the law of diminishing returns has set in, short-run marginal costs begin to rise. This is shown by the upward-sloping section of the resume at MC curve in the lower panel of the diagram.
And as soon as MC rises through the average variable cost (AVC) curve (and later the average total cost (ATC) curve), the two average cost curves begin to rise. This means that the AVC and monster book the ATC curves are U-shaped. [pic] Just as short-run cost curves are derived from the short-run law of diminishing returns, so long-run cost curves result from the nature of diabetes mellitus, returns to scale. When a firm changes the scale of monster high, all the factors of production in services the economic long run, it is usual to report, assume that to start with it benefits from increasing returns to scale but that eventually decreasing returns to scale set in. Given this assumption, the story writing firm’s long-run average cost (LRAC) curve is U-shaped, as shown in the diagram below. However, other assumptions about the impact of returns to scale on long-run production would lead to monster high book, different possible shapes of the LRAC curve. [pic] The mark scheme for the first part of an essay question is ‘issue based’. The mark scheme sets out all the issues deemed to be relevant to the question and indicates the maximum marks that can be awarded for each issue. When added up, the total available mark is usually higher than 15 (the maximum mark for the first part of an essay question). When an answer scores more than 15 marks, the actual mark awarded is constrained to the maximum of 15. This is the case with this answer. All four parts of the question are addressed accurately, earning well over 15 marks. The maximum mark of 15 is awarded.
02Large firms are sometimes and perhaps often better than small firms, but they are not always better. The main reason why large firms can be better than small firms stems from the fact that in many industries, e. . mass car production, firms benefit from increasing returns to scale as the size or scale of the firm increases. As the final diagram in the answer to question 01 indicates, increasing returns to resume, scale translate into economies of scale when measured in book terms of long-run average costs of production. Economies of scale are defined as falling long-run average costs of production, whereas diseconomies of scale are rising long-run average costs of a book write, production. Increasing returns to scale mean that as plant size increases, a firm can combine its inputs in a technically more efficient way. As a result average costs of book, production fall.
This means that large firms, particularly in manufacturing, can benefit from for resume, technical economies of monster book report, scale. Many types of army essays, plant or machinery are indivisible, in the sense that there is a certain minimum size below which they cannot operate efficiently. A firm requiring only monster high report, a small level of output must therefore choose between installing plant or machinery that it will be unable to use continuously, or using a different but less efficient method to produce the smaller level of output required. Large firms can also benefit from volume economies of scale. With many types of capital equipment (for example, metal smelters, transport containers, storage tanks and warehouses), costs increase less rapidly than capacity. When a storage tank or boiler is doubled in dimension, its storage capacity actually increases eightfold.
Since heat loss depends on the area of the container’s walls (which will only have increased fourfold) and not upon an essay volume, a large smelter or boiler is technically more efficient than a small one. Volume economies are thus important in industries such as transport, storage and monster high book warehousing, as well as in metal and chemical industries, where an increase in the scale of plant provides scope for read an essay scholarship, the conservation of monster book, heat and case study diabetes mellitus energy. Monster Report! When there are substantial economies of scale available to on say, a firm, its LRAC curve will look like the one in diagram (a) of the monster book following: [pic] When firms can benefit from substantial economies of scale (and economies of large-scale production), this will benefit firms. The gain in layouts for resume productive efficiency achieved from a large scale of operation means that profits will be larger for large firms than for small firms. However, the opposite will be true if diseconomies of monster high report, scale set in early on as a firm increases its size. Economies of small-scale production (as depicted in diagram (b)) show that small firms producing at Q1 are more productively efficient than large firms. This is likely to be the situation in personal service industries such as building customised furniture for clients. A range of other issues are also relevant to this question. Firms may grow large in order to exploit the monopoly power that large size often gives to firms. The firms may benefit from monopoly profit, but their consumers suffer from unnecessarily high prices, restricted choice and general consumer exploitation.
The large profit and story writing market power that large firms often enjoy may be used to finance innovation and the benefits of dynamic efficiency which, if passed on to consumers, means that they also benefit. On the other hand, this might not happen; large firms may simply enjoy an book, easy life, content with a degree of X-inefficiency (unnecessary costs of production). In conclusion, the answer to study mellitus, the question depends on the assumptions made about whether economies of scale are possible, the motives of firms, and the extent to which they can exploit monopoly power to the detriment of monster high book report, consumers. It is useful to divide large firms with monopoly power into layouts those that are fully unified and technically integrated firms and those that are not. A fully unified or technically integrated firm is one that grows because it organises production in a productively efficient way in order to reduce average costs and book increase profits. If monopoly power results, it is almost by accident. Providing it ‘behaves itself’ when large size gives it monopoly power, the firm, consumers and the public interest all benefit.
By contrast, if a firm grows (usually by takeover rather than through organic growth), its main motive may be to exploit consumers. Clearly such firms are not ‘best’. The mark scheme for the second part of an essay question is ‘level of skill based’. For Resume! Having read the whole answer, the report examiner places the answer in one of five levels. These are: • Level 1 — very weak Level 2 — weak with some understanding • Level 3 — reasonable including some correct analysis but very limited evaluation • Level 4 — good analysis but limited evaluation or reasonable analysis and reasonable evaluation • Level 5 — good analysis and story writing good evaluation This answer has been awarded a mark at the top of level 4 in the AQA mark scheme. High Book! The levels descriptors in the mark scheme are used for the second parts of all essay questions (and also all part 03 and 06 context data response questions at A2).
The level 4 descriptor is: A2 |AO1 Knowledge and |AO2 Application of theories,|AO3 Analysis of a book write an essay, economic |AO4 Evaluation of economic | |Levels mark scheme |understanding of theories, |concepts and terminology |problems and issues |arguments and evidence, | | |concepts and terminology | | |making informed judgements | |Level 4 |Good throughout the answer |Good application to issues |Relevant and high precise with a |Limited but showing some | |17–21 marks |with few errors and |Where appropriate, good use |clear and logical chain of |appreciation of alternative | |(mid-point 19) |weaknesses |of data to support answer |reasoning |points of view | | | | |There is good awareness of | | |Good analysis but limited | | |the interrelatedness of | | |evaluation | |Some good application to |economic issues | | | | |issues |Largely relevant and well |Reasonable, showing an | |or |Good throughout much of the |Where appropriate, some good|organised with reasonable |appreciation of alternative | |Reasonable analysis and |answer with few errors and at |use of data to support |logic and high book coherence |points of view | |reasonable evaluation |weaknesses |answer |There is some awareness of | | | | | |the interrelatedness of | | | | | |economic issues | | The answer displays both good analysis and good evaluation, but does not quite reach level 5. Although analysis of economies and diseconomies of scale is excellent, the analysis on monopoly is too thin, based on assertion rather than rigorous development and application of case diabetes mellitus, economic theory. Hence the answer is placed at the top of level 4 rather than level 5. Topic 2 Competitive markets 1It is impossible for human beings to book, possess perfect information about what is happening in a market. With the possible exceptions of currency and share markets, it is unrealistic to assume that all goods and services are identical, uniform or homogeneous. 2Motorists can research similar car models in trade magazines and on resume services, the internet to get a picture of the price of high book report, cars depending on age, mileage, condition and availability. 3Whenever marginal revenue exceeds marginal cost (MR gt; MC), selling an extra unit of output always increases total profit. The extra unit adds more to study, revenue than it does to costs. But whenever marginal revenue is less than marginal cost (MR lt; MC), selling an extra unit of output always reduces total profit. The extra unit adds more to costs than it does to revenue. It follows that only when marginal revenue equals marginal costs (MR = MC) are profits maximised.
Normal profit is the level of profit made by a firm that provides just sufficient incentive to stay in the market. As a profit level, it is not high enough to attract new firms into the industry to compete with existing firms, or low enough to force firms out monster book, of the market. Resume Services! Supernormal profit is excess profit over and above normal profit. High Book! If there are no significant barriers to market entry, supernormal profit will attract new firms to enter the market and compete for customers. This should drive prices down until surviving firms make normal profit only. 5When the price of a good is study mellitus greater than the marginal cost of high report, production, the result is allocative inefficiency because the price charged by case, firms will be greater than the cost of making the last unit. This indicates that the firm is over-charging consumers. Hence not enough of the good is demanded and society’s scarce resources are not properly allocated between competing uses. Allocative inefficiency occurs when P gt; MC or P lt; MC.
For any given employment of resources and any initial distribution of report, income and wealth among the population, total consumer welfare can increase if resources are re-allocated from markets where P lt; MC into case study mellitus those where P gt; MC, until allocative efficiency is achieved when P = MC in all markets. 6Price competition occurs when firms seek to reduce costs and gain customers by offering products at the lowest possible price. By offering the report good at a low price they hope to create an incentive for the consumer to buy the product. Quality competition is story writing when a firm seeks to sell a product to consumers on the grounds that it is superior quality when compared to rival products. High Book Report! In this case the firm’s product may be more expensive than rival goods but the firm’s business strategy aims to attract consumers by offering better quality, whether this be in design, materials, service and/or build quality. 7The internet breaks down geographical frontiers, which enables buyers and sellers to engage in national and international markets. Essays! This has made some markets bigger and monster high helped fulfil the assumption that there are a large number of buyers and sellers.
Internet search engines and comparisons have allowed both business and consumers to army integrity, move closer to the perfect information assumption. Monster Book Report! Consumers can more easily compare prices and this has helped to write an essay, increase competition, although human decision making is high still bounded by limited time and constraints on the level of detail that comparison websites provide. Exam-style answers (essay) 01Perfect competition is a market that meets all the study mellitus six conditions that define the market structure. These are: (i) a very large number of monster high, buyers and no 2 sellers; (ii) each with perfect market information; (iii) each able to buy or sell as much as it wishes at the ruling market price determined in he market as a whole; (iv) individual buyers and sellers unable to influence the ruling market price through their own actions; (v) a uniform or identical product; and (vi) an absence of barriers to entry into and exit from the monster report market in the long run, i. e. complete freedom of entry and essay on say drugs exit. A barrier to entry prevents new firms from entering a market. Taken together, these conditions tell us that a perfectly competitive firm, whose AR and MR curves are depicted in panel (a) of the monster report diagram below, faces a perfectly elastic demand curve for for resume, its product. The demand curve facing the firm is located at the ruling market price, P1, which itself is determined through the monster interaction of market demand and market supply in the market as a whole, which is an essay scholarship illustrated in panel (b) of the diagram. [pic] The assumption that a perfectly competitive firm can sell whatever quantity it wishes at the ruling market price P1, but that it cannot influence the ruling market price by its own action, means that the firm is a passive price-taker.
Condition (iii) of the conditions of perfect competition tells us that a perfectly competitive firm can sell as much as it wishes at the market’s ruling price. Monster Book! But, given that it can sell as much as it desires at read a book write an essay scholarship, the market’s ruling price, how much will it actually wish to produce and sell? Providing we assume that each firm’s business objective is solely to maximise profit, the answer is monster report shown in panel (a) of the next diagram: [pic] Panel (a) in story writing the diagram above adds the perfectly competitive firm’s average total cost (ATC) curve and its marginal cost (MC) curve to the revenue curves shown in high book the earlier diagram. Point A in panel (a) (at which MR = MC) locates the profit-maximising level of output Q1. At this level of output, total sales revenue is shown by the area OQ1AP1. Total cost is shown by the area OQ1BC1. Layouts! Supernormal profits (measured by monster book, subtracting the total cost rectangle from the total revenue rectangle) are shown by the shaded area C1BAP1. Referring back again to the list of the conditions of perfect competition, we can see that although firms cannot enter or leave the story writing market in the short run, they can do so in the long run (condition (vi)). Suppose that in the short run, firms make supernormal profit.
In this situation, the ruling market price signals to firms outside the market that an incentive exists for new firms to enter the market. The next diagram shows what might then happen: [pic] Initially, too many new firms enter the market, causing the supply curve to shift to the right to S2 in panel (b) of the diagram. This causes the price line to fall to P2, which lies below each firm’s ATC curve. When this happens, firms make a loss (or subnormal profit). But just as supernormal profit creates the incentive for new firms to enter the high market, subnormal profit provides the incentive for marginal firms to leave the market. In panel (b) the market supply curve shifts to the left and resume the market price rises. Eventually, long-run equilibrium occurs when firms make normal profit only. For the market as a whole, this is shown at output Q/// and price P3.
This answer is similar to the answer written for the Topic 1 exam-style essay question in that it includes more than enough coverage of issues to earn all the available 15 marks. The candidate starts the answer with a list of the conditions of perfect competition. Weak answers frequently go no further than this. However this answer uses the conditions as prompts for developing the analysis required of a good answer to this question. Further good points are devoting more or less equal space to both the whole market and to one firm within the market, and to the use of relevant and accurate diagrams to illustrate the analysis. The maximum 15 marks are awarded. 02In economics the high book report word ‘efficiency’ has several meanings. For example: Technical efficiency.
A production process is technically efficient if it maximises the output produced from the read an essay available inputs or factors of production. High Book! Productive efficiency or cost efficiency. To achieve productive efficiency, a firm must use the techniques and factors of production that are available, at lowest possible cost per unit of output. In the short run, the army integrity essays lowest point on the relevant short-run average total cost curve locates the most productively efficient level of output for the particular scale of operation. X-efficiency. This occurs when a firm has eliminated all unnecessary costs of production, which means that it must be producing on and not above its average cost curve. Allocative efficiency.
This occurs when it is high book impossible to improve overall economic welfare by reallocating resources between industries or markets (assuming an initial ‘fairness’ in case the distribution of income and wealth among the population). For resource allocation in high book the whole economy to be allocatively efficient, price must equal marginal cost (P = MC) in each and every market in the economy. Dynamic efficiency. All the forms of efficiency mentioned above are examples of static efficiency, i. e. Case Diabetes Mellitus! efficiency measured at a particular point in monster high book time. By contrast, dynamic efficiency measures improvements in read technical and monster book report productive efficiency that occur over time. Improvements in dynamic efficiency result from the introduction of better methods of producing existing products (including firms’ ability to on say, benefit to a greater extent from economies of high book, scale), and also from developing and essay on say no 2 drugs marketing completely new products.
The diagram below shows that a perfectly competitive firm achieves both productive and allocative efficiency in the long run, but only book, under the army integrity assumption that there are no economies of scale. The firm is productively efficient because it produces the optimum output at the lowest point on high book report, the ATC curve, and it is allocatively efficient because P = MC. In long run or true equilibrium, a perfectly competitive firm must also be X-efficient. The reason is simple. If the firm is X-inefficient, producing at a level of integrity essays, unit costs above its ATC curve, in the long run the firm could not make normal profits. In a perfectly competitive market, to survive and make normal profits, a firm has to eliminate organisational slack or X-inefficiency. [pic] The first sentence in the previous paragraph asserted that perfect competition is efficient provided there are no economies of scale.
Consider now a situation, shown in the final diagram below, in monster which the market is too small to allow a large number of army integrity, firms each to achieve all the economies of scale that are possible. [pic] For a firm to benefit from economies of scale to the full, and hence to be productively efficient in monster high book the long run as well as in army the short run, its short-run cost curve would have to be positioned at SRATCN, or indeed further to the right than this. The problem is that the market is too small to allow both full economies of scale and the large number of high book report, firms required for perfect competition to be achieved. No 2! Long-run productive efficiency requires a monopoly market structure (natural monopoly). By contrast, perfect competition requires each of a very large number of firms to be producing on a short-run average cost curve such as SRATC1. On such a curve, the perfectly competitive firm is book report indeed productively efficient in the sense that it achieves short-run productive efficiency, but it is producing way below the story writing level of output that is productively efficient in the long run when scale economies are benefited from to the full. In conclusion, a perfectly competitive firm can be efficient when judged against the criteria of productive, X, and allocative efficiency, but only in the short run. Unlike a monopoly, a perfectly competitive firm cannot achieve long-run productive efficiency through the pursuit of economies of scale. Finally there is another argument, so far not considered, which may mean that perfectly competitive firms fail to monster report, produce the allocatively efficient level of output. True allocative efficiency requires that the price charged for a good by a firm should equal the marginal social cost of layouts for resume, production and not the marginal private cost incurred by the firm, i. e. P = MSC and not P = MPC.
This means that when externalities, negative or positive, are generated in monster book the course of production, a perfectly competitive firm will not produce an allocatively efficient level of output. Story Writing! Nor will the whole market. This is clearly a level 5 answer which earns full marks. The level descriptors for level 5 are: A2 |AO1 Knowledge and |AO2 Application of theories,|AO3 Analysis of economic |AO4 Evaluation of economic | |Levels mark scheme |understanding of theories, |concepts and terminology |problems and issues |arguments and evidence, | | |concepts and terminology | | |making informed judgements | |Level 5 |Good throughout the monster high book report answer |Good application to issues |Relevant and precise with a |Good with a clear final | |22–25 marks |with few errors and |Where appropriate, good use |clear and logical chain of |judgement | |(mid-point 24) |weaknesses |of data to support answer |reasoning | | | | | |There is good awareness of essay, | | |Good analysis and good | | |the interrelatedness of | | |evaluation | | |economic issues | | The question focuses solely on efficiency criteria and not on welfare criteria, namely the consumer surplus members of monster high, households enjoy in perfectly competitive markets. Pleasingly, the answer starts with relevant definitions but while a couple of marks are available for definitions, this list is really too long. Note that the concept of X-efficiency is not in the Unit 3 specification, though good answers frequently make use of the concept. Story Writing! Topic 3 Concentrated markets Water companies such as Thames Water are pure monopolies in the supply of tap water since their customers have no other companies from which they can buy tap water. The supermarket industry is oligopolistic because over 90% of market share is controlled by four large firms. 2The John Lewis Partnership is a firm that has grown primarily through organic growth.
Halifax Bank of Scotland (HBOS), which is monster high now owned by the Lloyds Banking Group, is a firm that primarily grew through takeover and merger. No 2! 3British Gas and Thames Water. Natural monopoly occurs when there is only room in the market for one firm benefiting to the full from economies of scale. In the past, utility industries such as water, gas, electricity and the telephone industries were regarded as natural monopolies. Because of the nature of monster high report, their product, utility industries experience a particular marketing problem. The industries produce a service that is delivered through a distribution network or grid of pipes and cables into millions of story writing, separate businesses and homes. Competition in the provision of distribution grids is extremely wasteful, since it requires the duplication of fixed capacity, therefore causing each supplier to high report, incur unnecessarily high fixed costs.
Until quite recently, utility industries were generally monopolies. On Say No 2 Drugs! High barriers to entry prevent new firms from entering the market and competing for profits with the monopoly. Barriers to entry will often take the form of high sunk costs, i. Monster Book! e. billions of pounds of resume services at, capital investment which enable the monster high book report firm to operate at story writing, the bottom of the long-run average cost (LRAC) curve. Monopoly firms can also be protected by legal restrictions imposed by the government. For many decades, but no longer today, the Royal Mail enjoyed a privileged position in book the delivery of army integrity essays, mail.
Patent and high copyright law protects intellectual property rights. 5A cartel or price ring is an informal agreement between firms in a market to story writing, keep prices artificially high. This allows firms to exert monopoly power through collusion and monster high book make supernormal profits by overcharging consumers. This allows poorly managed and inefficient firms to continue to make profits and deprives consumers of the lower prices that could be offered by more efficient firms that have more innovative production methods and are less wasteful. Under UK, EU and US law, cartels are often illegal and army can be punished with large fines and, in the USA, by imprisonment of company directors. Cartels can, however, provide benefits to the public.
If a cartel can protect firms from the pressures of competition and allow firms to invest in monster high book research and story writing development to monster book, invent new products, it can be extremely beneficial to for resume, the public. Large pharmaceutical companies, for example, have argued that pricing agreements have allowed them to raise finance to invest in expensive scientific research and drug development which they could not do if they were constantly fighting aggressive price wars with rivals. 6Cartels are usually illegal because their behaviour results in higher prices for consumers and they allow members of the monster cartel to operate inefficiently. In the an essay case of the cement industry cartel broken up by the European Union competition authorities, firms were able to charge customers artificially high prices for cement, which pushed up the costs of high book report, production for diabetes, the construction and building industry. This meant that government contractors had to spend more of their taxpayers’ money to purchase cement for investment projects such as school buildings, hospitals and roads. Private sector companies also had to pass on higher prices to businesses and households, which depleted levels of monster book, household disposable income and reduced households’ ability to spend on layouts, other goods and services. Book Report! Most cartel members benefited significantly from the supernormal profits they made. Managers and the owners of the essay on say businesses would have benefited, but not the general public. Furthermore, the supernormal profit did not encourage managers to look for efficiency savings, invent new products or innovate new production methods. As a result, prices remained high as consumers paid too much for products. These market distortions resulted in consumers facing wrong prices signals, which in turn led to a misallocation of scarce resources.
7In the original ‘prisoner’s dilemma’, two prisoners are jointly charged with a serious crime such as armed robbery and are held in isolation from monster high book report, each other. The prosecutor, hoping to services at, have his task simplified, knows that a confession from one will convict the other, but he also knows that the available evidence is insufficient to ensure a conviction. If both prisoners plead not guilty, they are likely to go free. Hoping to ensure two guilty pleas, the prosecutor visits each prisoner in his cell and offers a deal. The prosecutor informs each prisoner that he will receive one of two possible outcomes, depending on monster high book report, how he pleads: (i) if both prisoners plead guilty, each will go to prison for one year; and (ii) if one prisoner pleads guilty and the other not guilty, the prisoner pleading guilty will be freed and receive a reward — if he gives evidence to convict the other prisoner — whilst the other prisoner gets a five-year jail sentence.
Each prisoner faces the dilemma that if he pleads not guilty but the other prisoner pleads guilty and shops him, he will get the worse possible outcome, namely being banged up for five years. Shuddering at this possibility, both prisoners plead guilty and get the second best outcome: one year in jail. However, the best outcome for each prisoner, namely going free and possibly earning a reward, is not achieved. The prisoner’s dilemma scenario can be used to model the behaviour of resume, competitive duopolists, for high, example those in the arms industry. A British and a French company are competing to secure an arms deal to sell a billion pounds’ worth of weapons to Iraq. By paying bribes of $100 million to government ministers in essay on say drugs Iraq, the British company believes it will get the whole deal. However, earning ? 1 billion depends on high book report, the actions of the French company, the only other likely supplier of the arms. Essay No 2! If both companies bribe Iraqi ministers, the book deal is likely to be shared between the two suppliers. Write An Essay Scholarship! The British company’s profits will then be much less than if it alone pays bribes and gets all the business. The chief executive officer of the British company thinks it a pity to pay out $100 million, but if they did not and the French company did, the French would get all the business and the UK company would make zero profit. In the absence of collusion, there are two strategies available to each firm: (a)Pay the bribe, while the other firm does not bribe.
Outcome: (i)for the firm paying the bribe: a net income of $900 million (ii)for the firm refusing to report, bribe: nothing (b)Both pay the army essays bribe. Outcome: The sale is shared: each firm nets $400 million. To avoid losing all the business and making zero profit, both rivals decide to pay the bribe. In this scenario, paying the high bribe is each firm’s dominant strategy, i. e. the strategy to be pursued whatever rival firms do. Paying the bribe makes the British company better off, whatever the French do, and vice versa. 8When natural barriers to market entry are low or non-existent, incumbent firms (i. e. firms already in layouts the market) may set low prices, known as limit prices, to high book, deter new firms from diabetes mellitus, entering the high book report market. Incumbent firms do this because they fear increased competition and loss of market power. With limit pricing, firms already in the market sacrifice short-run profit maximisation in order to maximise long-run profits, achieved through deterring the entry of new firms. Integrity Essays! By contrast, predatory pricing occurs when a firm cuts the high book report price of its product to a loss-making level in essay on say no 2 drugs order to force a rival firm out of business. This strategy is monster report normally used by large firms that can subsidise losses using profits from story writing, another part of monster book, their business empire to army, force smaller rivals out monster, of the market. 9Firms undertake price discrimination in order to maximise profits.
This arises when different customers have different elasticities of demand at different prices. If one customer has a highly inelastic demand and another an elastic demand, the firm will be able to sell them the same product but at different prices. Train companies will typically price discriminate by case diabetes, charging different fares to different customers and also varying the price of a ticket at different times of the day to monster book, send price signals and create incentives and disincentives to travel. Price discrimination occurs when firms charge different prices to different customers based on differences in case the customers’ ability and willingness to pay. Those customers who are prepared to pay more are charged a higher price than those who are only willing to pay a lower price. Price discrimination allows firms to increase profit by taking consumer surplus away from consumers and converting it into extra monopoly profit or supernormal profit. Providing the increase in sales revenue resulting from price discrimination is high report greater than the extra costs incurred when charging different prices to different customers, it is in firms’ interest to indulge in this form of pricing.
10The gamer’s consumer surplus is ? 0, being the difference between the maximum price he was prepared to pay and the actual price he paid. The store owner’s producer surplus is ? 2, being the difference between the read a book an essay scholarship lowest price he was prepared to accept and the actual price paid. 11Expensive capital equipment and sunk costs, and patent and copyright laws. 12A patent is the legal protection given to an inventor or producer which grants exclusive rights to monster book, a product for up to read a book an essay, 20 years. This legal protection allows firms to make supernormal profits because they are effectively monopoly producers. Patent protection creates a strong incentive for firms to invent new products and create new technologies or pharmaceutical products which significantly improve social welfare.
Thus patent protection drives dynamic efficiency. Invention and new product design frequently require high levels of high, research and development which burden firms with significant sunk costs and risk bankruptcy if the new product fails. Hence the incentive of making supernormal profits over a 20-year period encourages firms to invent, seek dynamic efficiencies and take risks. Exam-style answers (data response) Competition and layouts monopoly in the EU airline industry 01Air France enjoys a domestic market share of 80%, whereas the domestic market share of Flybe is just under 30%. There is thus a difference of monster high, just over 50% between the domestic market shares of the two airlines. A significant feature of the no 2 drugs data is that only one airline, SAS, leads the domestic market in more than one country. SAS’s market share in Norway is about 43% while its market share in Sweden is about 37%. Monster High Report! The first part of the integrity essays context data response question in monster book ECON 3 and in ECON4 will usually be in two parts. The first part requires a calculation (often a percentage calculation). The second part asks for identification of one other significant point of comparison, or in write an essay this question where there is only one data series in Extract A, one other significant feature of the data.
Some future exam papers may revert to asking for two significant points of comparison (or features), without a preliminary calculation. For this question, the answer picks up 3 marks for the calculation and 3 marks for identifying a significant feature in the data, constrained to monster book report, the maximum mark of 5 available for the question. 02The term ‘monopoly power’ does not mean quite the same thing as monopoly. Whereas pure monopoly occurs when there is only one firm in case mellitus the market, monopoly power exists even when pure monopoly does not. Monster High Report! The term applies to a situation in which firms within the market possess the power to reduce output, raise the case study diabetes mellitus price, and make supernormal profit. By using strategies such as product design, brand imaging, persuasive advertising and monster high book report protecting themselves through patents, firms can exercise a degree of monopoly power even when there are many firms in the market. Although Air France is not a pure monopoly in the French market, it may be a monopoly for flights between particular airports. In any case, even when not a pure monopoly, Air France possesses a large amount of monopoly power which it may choose to exercise.
As the diagram below shows, on for resume, routes where its monopoly power is complete, it may hike up the price it charges to P2, compared to monster high report, a competitive market price of P1. It does this by restricting the number of flights to story writing, F2, compared to F1, which would be the number of high book, flights if the market were perfectly competitive. Story Writing! [pic] In the latter case, market equilibrium would be determined at point A on the diagram. But when Air France acts as a pure monopoly, point B (where MR = MC) determines the level of output, with Air France then able to charge a price of P2. Air France could also use its monopoly power in other ways. The airline could indulge in price discrimination, charging higher prices to customers who are prepared to pay more for high, a flight. Alternatively, and presumably requiring the support of the French government, Air France might charge limit prices or even predatory prices. Write! A limit price is a price set deliberately low to discourage competitor airlines from entering the market.
A predatory price is set even lower, below average costs, with the intention of driving rival airlines that have dared to enter the market, out of the market. However, perhaps the main way Air France might exercise its monopoly power is by gaining control of landing and take-off slots at French airports, to make it uneconomic or impossible for rivals to use the airports. As with the high report first part of context data response question, in a book write an essay ECON 3 and in monster high ECON4 the second part of the question divides into two parts. The first part (worth 4 marks) asks candidates to explain the meaning of an integrity, economic term (in this case ‘monopoly power’). The follow-on part (worth 6 marks) tests the more demanding skill of economic analysis. An answer is monster book report constrained to a maximum of army integrity, 6 marks if only the explanation or analysis is attempted. This answer is more than sufficient to monster high book, earn all 10 marks. In fact, the candidate is in danger of spending too much time on an 02 question, which would leave too little time to develop an answer to the last part of the army integrity essays question. 03A cartel is a collusive agreement by firms, usually to fix prices. Sometimes output may also be fixed.
In the diagram below, five firms jointly agree to report, charge a price to layouts, keep firm E, which is the least efficient firm, in the market. In a competitive market, firm E would have to monster high report, reduce costs or go out of business. Cartel agreements therefore enable inefficient firms to stay in business, while other more efficient members of the price ring enjoy supernormal or monopoly profit. By protecting the inefficient and enabling firms to enjoy an easy life protected from army integrity, competition, cartels display the disadvantages of monopoly (high prices and monster high book report restriction of choice) without the for resume benefits that monopoly can sometimes bring, namely economies of scale and improvements in dynamic efficiency. Although cartels can achieve a better outcome for all firms concerned, they are not likely to high book report, be good for the consumer.
For this reason, cartel agreements are usually illegal and judged by governments as being anti-competitive and against the public interest. Nevertheless, some forms of cooperation or collusion between oligopolistic firms may be justifiable and in the public interest. These include joint product development and cooperation to improve health and on say no 2 drugs safety within the industry, or to ensure that product and labour standards are maintained. Such examples of industry collaboration are normally deemed to be good, in contrast to price collusion, which is regarded as bad. Monster Book Report! [pic] Currently, within the European Union, cartels are usually deemed to be illegal, both by national competition authorities such as the Competition Commission in the UK, and by EU competition policy. A Book Write An Essay Scholarship! In both national and EU competition policy, a cartel agreement is treated as an anti-competitive trading restrictive practice, collectively undertaken by monster high, the member firms of the cartel. Within the UK, the Office of Fair Trading (OFT) can refer collective restrictive agreements and practices to a court of law, the Restrictive Practice Court (RPC). Arguably, policy towards collective restrictive practices is more effective than other aspects of competition policy because a court enforces the policy. A firm that ignores an RPC ruling may be found guilty of contempt and fined. Nevertheless, the punishments that the RPC can hand out are quite weak — usually a fine of just a few thousand pounds.
Restrictive trading practice policy would be much more effective if fines of millions rather than thousands of pounds were imposed, and if the authorities were given more power to story writing, detect secretive collusive agreements. European Union competition policy, including policy aimed at cartels, is based on the principle of subsidiarity. High! This principle means that EU policy is activated only when firms operating within the EU adversely affect or distort trade between EU member states. Thus a cartel agreement between a number of (probably small) UK companies, operating solely within the UK and not competing with firms from other EU countries, would not attract the attention of the EU Competition Commissioner, who is in diabetes mellitus charge of report, EU competition policy. In practice, EU and national competition authorities complement each other and should not be regarded as alternatives. It is also the case that the EU Competition Commissioner imposes heavier fines and more draconian punishments on firms found to be operating anti-competitive cartel agreements, than do strictly national competition authorities. This is evidenced by the case study in Extract C in the question. The case study reported that the EU fined 11 national airlines about ˆ800 million for fixing the price of at, air cargo between 1999 and 2006. British Airways was fined ˆ104 million, Air France-KLM ˆ340 million and Cargolux Airlines ˆ79.
9 million. The case study also draws attention to the fact that because cartel agreements are usually hidden, they are often exposed by a dissatisfied member of the cartel ‘blowing the whistle’ on other cartel members. Whistle blowers usually get off scot-free (to incentivise whistle blowing in other, as yet unexposed, cartels). Meanwhile, the other cartel members are heavily punished. In conclusion, therefore, I take issue with the word ‘solely’ in monster high the question. National and EU policy should reinforce each other and be treated as complements, rather than as substitute policy options. Perhaps a little harshly, this answer is placed at story writing, the top of level 4 (17–21 marks) rather than in level 5. The evaluation is certainly good enough for level 5. However, the analysis is on the thin side. To ensure a level 5 mark, the candidate could have included theory (for example the theory of joint profit maximisation) to analyse how price rings can allow all the monster high report colluding firms to enjoy monopoly profit. Often the final part of a data-response question or an essay question contains a word such as must, always, inevitably, or in this case solely. Good candidates (such as this one) pick up on these words, arguing (in this case) that EU and study mellitus UK competition authorities should complement each other and not be seen as alternatives to each other. Monster Book Report! This is good evaluation.
Topic 4 The labour market 1When households increase demand for goods and services, firms respond by resume services, employing more labour to monster, increase production. Workers are demanded, not for the utility or pleasure their employment gives to employers, but because their labour is necessary for profits to be made when the goods or services that workers help to case, produce are sold. High! Perfect competition in the labour market is both similar to, and case study diabetes different from, perfect competition in the goods market. In both markets, the monster book ruling market price is set in the market as a whole through the interaction of case study, all the economic agents operating in book the market. However, in a labour market, the ruling market price is in fact the ruling market wage, paid by firms and received by workers. This difference illustrates role reversal in the two sets of markets. Households, which are the source of demand in the goods market, are the essay on say no 2 drugs source of supply of labour in the labour market. Similarly, firms, which are the source of supply in the goods market, are the source of demand (a derived demand) in the labour market.
As a result of role reversal, the high book ruling market price facing each firm in the goods market is its perfectly elastic demand curve for labour, and also the AR and study mellitus MR curve facing each firm. By contrast, the ruling market wage facing each employer in the labour market is a perfectly elastic supply curve of labour, and also the average cost of high book, labour (ACL) curve and the marginal cost of labour (MCL) curve facing each employer. Case Study! 3Transport for London (TFL) bargains collectively with ASLEF, the monster train drivers’ union, and with RMT, the National Union of Rail, Maritime and layouts for resume Transport Workers. The energy company EDF also bargains collectively with its workers’ unions. Monster! In 1999, the integrity national minimum wage (NMW) came into force in the UK at a rate of ? 3. 60 an hour for workers aged 22 and over. The current rates (from 1 October 2012) are: ? 6. Monster Book! 19, the for resume main rate for workers aged 21 and high report over; ? 4. 98, the 18–20 rate; ? 3. 68, the 16–17 rate for drugs, workers above school leaving age but under 18; ? 2. 65, the apprentice rate, for book, apprentices under 19 or 19 or over and in the first year of their apprenticeship. 5(i)Income is an economic flow; it is the payments received by an individual or household in a given time period. Wealth is an economic stock; it is the accumulated assets, property and savings owned by army integrity essays, an individual or household over time. ii)Welfare benefits are payments transferred to an individual or household by the government via the taxation and high social security system, without labour or a factor service being supplied. Integrity! Earned income is payments received by an individual or household in exchange for labour or interest on saving or the book report rent of an asset. Exam-style answers (essay) 01Income is a flow while wealth is a stock.
Personal wealth is the stock, or historical accumulation, of everything people own, which has value. By contrast, income is the flow of story writing, money received hourly, weekly, monthly or annually, some of report, which (the part saved) can add to or enlarge personal wealth. This is one of the links between income and wealth. A second link operates in the opposite direction: the layouts for resume wealthier people are, the more investment income they are likely to earn, which adds to their total income. Indeed, the rich benefit from high report, a virtuous circle: wealth increases income, which allows the wealthy to read a book write an essay scholarship, save, and saving adds to wealth, and so on. By contrast, many of the poor suffer a vicious circle: low income means the poor have to borrow, borrowing adds to personal debt, income is then spent on debt repayment, consumption falls, and any wealth the poor possess disappears. Monster High Book! As in other countries, income and wealth have always been unequally distributed in for resume the UK. Even when economic growth creates full employment, the incomes of the rich tend to increase faster than those of the poor. Three of the main causes of high report, inequalities in the distribution of income and wealth in the UK are old age, unemployment, and the low wages of many of those in work.
Old age causes income inequality (and also poverty) largely because many old people rely on the state pension and lack a private pension. Before the early 1980s, the state pension rose each year in line with average earnings. This meant that pensioners, albeit from case mellitus, a lower base, shared in the increase in national prosperity delivered by economic growth and higher real earnings. However, since the early 1980s, the high book state pension rose first in line with the retail prices index (RPI) (and latterly in line with the consumer prices index (CPI)), rather than with average earnings. This has kept the real value or purchasing power of the state pension at or near its early-1980s level, while the real earnings of those in work have continued to rise. Pensioners reliant solely on the state for a source of income have especially suffered.
The state pension is now regarded very much as a ‘poverty income’. Even though the state pension is index-linked to the CPI, its real value has fallen because the cost of resume services, living of the elderly rises by more than any increase in the CPI. Unemployment benefits are also now linked to the CPI and, for similar reasons as apply to the state pension, have fallen behind average earnings. Until quite recently, even if unemployment remained the same, increases in the incomes of the unemployed generally fell below increases in the incomes of those in work. However, since 2008, unemployment has risen rapidly and stands above two and a half million. This means that more people suffer from low incomes (just as people living longer adds to the number of pensioners on low incomes). (Before moving on to explain how low wages increase income inequalities, it should be stated that recent events have partially offset the conclusions drawn in the previous paragraphs. High Book Report! Since 2009, the wages and salaries of much of the UK population in work have hardly changed at all, but the state pension and unemployment benefits have risen by layouts, rather more, albeit from book report, a lower starting point. At the same time, because of a series of crises in private pension provision, many people approaching retirement age who had been looking forward to receiving substantial private pensions are now expecting much lower private pensions. ) Moving on to low pay as a cause of widening income differentials, an important factor has been the disappearance of middle-ranking jobs in the private sector. An example is in engineering, where skilled jobs have simply disappeared. Many of a book an essay scholarship, these jobs have moved overseas, leaving a vacuum in monster high the British labour market.
There is essay no 2 drugs now a worrying gap between low-skilled, low-paid jobs (so called McJobs) at the bottom of the pile, and highly-paid jobs in book industries such as investment banking where the rate of pay has risen astronomically in recent years, in diabetes mellitus both real and nominal terms. This answer scores 14 out of the 15 marks available. It earns the two marks available for monster book report, definitions. (Because definitions pick up marks, it is always a good idea to provide two relevant definitions in the answer to a book write an essay, the first part of an essay question, or to the second part of a context data-response question). The candidate lists and then explains three causes of income inequality. The effects of old age and unemployment are explained well. Monster High! The final explanation of the effect of low wages is sound but a little thin.
It would have benefited from graphical analysis, showing for example that the widening difference between high and low wages is partially caused by story writing, different demand and supply conditions in different labour markets: [pic] 2A tax is progressive if, as income rises, a greater proportion of income is paid in tax. A transfer is the payment of income by the state to a benefit recipient, without the person involved providing any labour in exchange for the income received. It is of course possible for the government to use progressive taxation to monster high report, narrow the gap between pre-tax and post-tax income, without redistributing income. Essay Drugs! The tax revenue could for example be spent on tanks and guns. It is also possible for the tax revenue raised from progressive taxation to be given back to the better-off, for example through subsidies given to already-rich farmers or by giving gentrification grants to people on book report, high incomes to spend on improving their houses. However, usually when we think of progressive taxation and integrity essays transfers, the implicit assumption is that the rich are taxed more than the monster book report poor and that much of the tax revenue is transferred and given as welfare benefits to the poor. There is no doubt that progressive taxation and essays transfers provide an book, obvious way to reduce inequalities in layouts the distribution of income and wealth. Book! Before 1979, UK governments of all political complexions used progressive taxation and a policy of transfers of income to the less well-off, in a deliberate attempt — with some success — to reduce inequalities in the distribution of income. However, there is a major problem involved if only progressive taxation and transfers are used with this aim in mind.
The reason for this relates to the conflict between two of the principles or canons of taxation: equity and efficiency. Equity means that a tax system should be fair, although, of course, there may be different and story writing possibly conflicting interpretations of what is fair or equitable. Specifically, a particular tax should be based on book, the taxpayer’s ability to pay. This principle is one of the justifications of progressive taxation, since the rich have a greater ability to pay than the poor. Efficiency means that a tax should achieve its intended aim or aims with minimum undesired distortion or side-effects. Arguably, the high income-tax rates that are necessary to make the tax system progressive have an adverse effect on a book write an essay, personal incentives. In particular, they may reduce the incentives to work harder, to be entrepreneurial and to take financial risks.
Free-market and supply-side economists believe these disincentive effects lead to a significant slowing down of the economy’s rate of growth. The economy ends up being more equal, but poorer overall when compared with competitor countries. Supply-side economists believe that greater incentives for work and enterprise are necessary in order to monster high book, increase the UK’s growth rate. For free-market economists and politicians, progressive taxation and transfers to the poor mean that people have less incentive to work harder and to engage in entrepreneurial risk. Moreover, the ease with which the poor can claim welfare benefits and the level at which they are available creates a situation in which the poor rationally choose unemployment and state benefits in for resume preference to book report, low wages and work. In this so-called dependency culture, the unwaged are effectively ‘married to the state’, but some of the poor, obviously not enjoying this marriage, drift into antisocial behaviour, attacking bus shelters and other public property, as well as privately owned property.
Meanwhile, at the top of the income pyramid, the high marginal rates of taxation, which form a large part of progressive taxation, are a disincentive to the better-off. They stop working, or work abroad, and read scholarship many hours are wasted in designing and applying complicated systems of tax avoidance — a paradise for accountants. Tax evasion (the failure to pay legally due taxes) also proliferates, both at the top and bottom of the income pyramid. Illegal tax evasion leads to the growth of the so-called black economy and to book report, activities such as smuggling. Supply-side economists believe that tax and benefit cuts, which are the opposite of progressive taxation and transfers, alter the labour/leisure choice in favour of story writing, supplying labour, particularly for benefit claimants who lack the skills necessary for high-paid jobs. They also believe that to make everyone eventually better-off, the poor must first be made worse off. Increased inequality is necessary to facilitate economic growth from which all would eventually benefit. Through a ‘trickle down’ effect, the poor would end up better off in absolute terms, but because inequalities had widened, they would still be relatively worse off compared with the rich.
Needless to say, by no means all economists agree with this extremely pro-free market analysis. However, virtually all agree that progressive taxation and transfers should not solely be used to narrow income differentials. Monster Book! Apart from the drugs pro-free market view just summarised, some economists believe that other forms of intervention in the free market are necessary. One of these is the national minimum wage, which in recent years has marginally raised low pay rates. They also argue that governments should extend the provision of merit goods such as free state education and monster book healthcare, in services order to improve the social wage of lower-income groups. The social wage is that part of a worker’s standard of living received as goods and services provided at zero price or as ‘income in kind’ by the state, being financed collectively out of taxation. However, such interventionist policies incur a significant opportunity cost. They lead to high taxation, with the disincentive effect this brings about, and they may also lead to adverse unintended consequences and to other aspects of government failure. It is important to read the question carefully.
This question does not ask for a discussion of whether the distribution of income should be made more equal. Unfortunately, the report answer deflects a little too much in this direction. Study! Nevertheless, it is still valid to argue that progressive taxation and transfers should not solely be used to reduce inequalities, because of the disadvantages and unintended consequences of these two fiscal policy instruments. The answer scores 19 out of monster high, a possible 25 and has been placed at mid-level 4. To achieve level 5, there should have been more focus on the actual set question and more discussion and analysis of policies such as a national minimum wage, for example discussing whether such policies should be better viewed as alternatives or complementary to progressive taxation and transfers. No marks are awarded for definitions in answers to diabetes mellitus, the final parts of essay and high report context data-response questions. Nevertheless, it is still a good idea to define key concepts at the beginning of the answer as this acts as a good launching pad for developing the subsequent analysis and evaluation. Topic 5 Government intervention in the market A public good has three characteristics: it is non-excludable, non-diminishable (non-rival) and non-rejectable. These characteristics mean that (if it is a pure public good — see answer to question 2) it cannot be provided by the market mechanism. A merit good is provided by layouts, the market mechanism and it has the characteristics of a private good. It is excludable, diminishable (rival) and rejectable. Monster Report! A merit good, however, is often undervalued by households and thus under-consumed when provided at a market price by the free market.
There are two reasons for story writing, this. First, consumers do not value the positive externalities that result from consumption which benefit other people. Second, consumers typically suffer from an information problem which causes them to ignore or undervalue the benefits of consumption which will be enjoyed in the future. 2Public goods can be divided into monster high book report pure public goods and non-pure public goods. National defence and police are examples of pure public goods — defined as public goods for which it is impossible to exclude ‘free-riders’. However, most public goods (street lighting, roads, television and radio programmes and for resume also lighthouses) are really non-pure public goods (also known as quasi-public goods). Methods can be devised for converting the goods into private goods by excluding ‘free-riders’ (for example, electronic pricing of road use). Non-pure public goods can be provided by markets, but the second property of non-rivalry or non-diminishability means there is a case for providing all public goods free in order to encourage as much consumption as possible.
For public goods, the optimal level of consumption occurs when they are available free of charge. 3For a merit good, the long-term private benefit of consumption exceeds the short-term private benefit of consumption. However, when deciding how much to consume, individuals take account of monster, short-term costs and benefits, but ignore or undervalue the long-term private cost and benefit. Resume Services At! Preventative dentistry provides a good example. Many people ignore the long-term benefit of dental check-ups, and decide, because of the short-term unpleasantness of the experience, not to consume the service. Unfortunately, these people can nd up later in life with rotten teeth or gum disease, saying: ‘If only high, I had visited the dentist more often when I was younger’. Likewise, school children who undervalue the long-term private benefit of education say later in story writing life: ‘If only I had worked harder at school, I would now have a better, more enjoyable job with more pay. Book Report! ’ 4Property rights in a market-based economy stem from the army essays notion that an individual owns land or a good and can exclude other members of society from entering the land or using the good, unless they are willing to pay for the privilege. High Report! 5Regulatory capture is the notion that a firm can exert undue influence over a government agency charged with regulating the market in which it operates. This can take the form of excessive hospitality, persistent lobbying, aggressive pressure backed up with litigation and, in the extreme, bribery.
This results in the regulator becoming either too friendly or too scared of the firm to fairly regulate its conduct in army the marketplace; hence the term ‘regulatory capture’. 6A cartel is generally illegal because it is an anti-competitive trading restrictive practice which protects inefficient firms, raises costs and discourages improvements in monster book report dynamic efficiency. As a result of the principle of subsidiarity, UK and EU competition authorities work together. EU policy over-arches UK policy when an services, EU-wide dimension is involved in relation to monster, monopolies, mergers and trading restrictive practices. If the issue is strictly national, relating only to the UK, the EU leaves policy implementation to the UK competition authorities. See also the answer to Topic 3 essay question 03 on pages 15–16 of these answers. 7In 2008 and 2009 many banks in many countries, including the UK, were close to collapse. Some banks did collapse, such as Lehman Brothers in the USA. Army Integrity Essays! Banks faced the danger of possible collapse as a result of an unexpected fall in the value of their assets, stemming from the credit crunch and the sub-prime mortgage problem, which particularly affected US banks. The assets owned by the banks were now much less than their liabilities.
Banks make money by lending out much greater sums than they receive as deposits from customers. Providing customers with deposits in a bank believe that their deposits are safe and monster can be paid back on army essays, demand, the bank is book report almost completely safe, with a minimal chance of it collapsing. However, in 2008 and 2009, customers began to withdraw their deposits from banks, leading to a fear of a run on the banks, followed by possible bank collapse. With many industries, government ministers nowadays take the view that failing businesses should be allowed to collapse. However, this is not generally their view with regard to banks. Services! Politicians fear a domino effect in which the collapse of one bank leads to high book, a string of collapses in other banks. This fear, let alone actual collapse, can have a devastating effect on confidence in the economy, which may in turn lead to study diabetes mellitus, a collapse in aggregate demand and the creation of recessionary conditions.
Government ministers also realise the crucial role of banks in providing liquidity to monster high book report, both households and army firms. When the banking system froze in 2007–08, firms found they were unable to monster report, borrow from banks. As a result, the cash supply to perfectly well-run firms dried up and some of them went out of business. All this helps to explain why the British government bought up a majority shareholding in the Northern Rock bank, RBS and HBOS, to enable these banks to continue trading. It was hoped that state ownership would secure the resume at supply of loans both to business customers and to mortgagees, though this hope was only partially met. At the time of effective nationalisation, the UK government stated that the nationalised banks would be returned to the private sector as soon as possible. Part of the Northern Rock bank — the so-called ‘good bank’ but not the ‘bad bank’ element which is monster book report still state-owned — has been returned to the private sector, rebranded as a part of Virgin Money. 8As the answer to question 7 mentions, part of the Northern Rock bank (which had been nationalised in 2008) was privatised in 2011. Many years earlier, British Telecommunications (BT), previously a nationalised firm since it was hived off from the Royal Mail, was privatised when the business was converted into services a public limited company (PLC) whose shares were sold to the general public in three tranches, in 1984, 1991 and 1993.
An example of deregulation was a change in the law to allow building societies to compete with banks when granting loans to customers. 9In terms of income, equality means that everyone receives exactly the same income. Equity relates to whether the monster book report distribution of income between different people is fair or just. Equality is thus a positive concept, since people’s incomes can be measured to read write, see if they are exactly equal. Equity, by contrast, is normative since it depends on people’s value judgements as to what is fair or just. 0In the poverty trap, also known as the earnings trap, low-waged people who pay income tax and monster national insurance contributions (NICs) to the government and who lose welfare benefits, become trapped in relative poverty when their wages rise. The unemployment trap is closely related to the poverty trap, since both affect the poor and result from the for resume nature of the tax and benefit systems. But people caught in the unemployment trap are out of work — at high book report, least in for resume terms of high, officially declared employment.
The unemployment trap contains un-waged social security claimants who ‘choose’ unemployment because they are better off out of work, living on benefits, than in low-paid jobs paying income tax and NICs and losing some or all of case diabetes, their right to claim means-tested benefits. 1Fuel poverty is defined as existing among households who spend more than 10% of their income on fuel. In July 2011, the UK government reported that more than a fifth of monster book, all households in the UK were affected by fuel poverty in 2009. Resume Services At! Higher fuel bills meant the number of homes affected rose by one million, or 22%, to 5. 5 million, according to the Department of monster, Energy and Climate Change. Exam-style answers (data response) The impact of for resume, climate change on the UK economy 01Asian countries emitted 0. 9 billion tonnes of carbon pollutants in monster 1990. On Say No 2 Drugs! This is forecast to rise to 5. 1 billion tonnes in 2050, an increase of 4. 2 billion tonnes. Monster Book Report! This is a forecast increase of 467%. One significant feature of the story writing data is that, after 2010, the high carbon emissions of emerging market countries is expected to continue to rise, whereas the rate of essay no 2, increase of the emissions of richer advanced countries (OECD countries) is expected to monster book, slow down (flatten), though not to fall. After 2010, the carbon emissions of non-Asian emerging market countries are expected to rise from about 1 billion tonnes to about 2. 7 billion tonnes.
OECD emissions are expected to read an essay scholarship, rise from about 3. 5 billion tonnes to about 3. 7 billion tonnes over the same period. Although this is an excellent answer, earning all 5 of the available marks, it is high book worth reminding you of circumstances in which candidates drop marks unnecessarily when answering this type of layouts for resume, question. First, candidates often fail to read the monster high book data carefully and end up quoting numbers that are too far different from those in the Extract. Second, even when the numbers quoted are accurate, candidates fail to include units of measurement (billion tonnes for both parts of this question, and services at a % sign for the % change in the first part of the answer). Third, in the answer to the second part of the question, it is vital to select a significant feature of the data rather than an monster high book report, insignificant feature. 02A public good, such as national defence, possesses the integrity twin characteristics of non-excludability and book report non-rivalry. Non-excludability means that if the good is for resume provided to one person it is provided to all.
It is impossible to exclude free-riders, i. e. High! eople who get the benefits without paying for the public good. Case Study Diabetes Mellitus! Non-rivalry means that when one person benefits from the good, it does not reduce the quantity of the good available for other people. The gases and pollutants that are emitted into the atmosphere and monster high book lead to global warming are both externalities and essay no 2 a form of public ‘bad’. (A public ‘bad’ is the opposite of a public good. People are generally prepared to pay for the removal of high, a ‘bad’, to avoid the read a book write an essay scholarship unpleasantness otherwise experienced. But in book the case of public ‘bads’, such as rubbish or garbage, payment can be avoided by dumping the ‘bad’ in a public place, or on someone else’s property. Because of this, polluting gases are also externalities discharged in the course of production and consumption, for example by power stations and motorists. The unwilling victims of global warming cannot opt out of being adversely affected by the pollutants and they cannot charge a price which the polluter must pay for the emissions discharged into the atmosphere. Taxation and regulation can in principle reduce that rate at which global warming is taking place. However, as Extract B explains, the emission of write scholarship, global-warming gases is different from the monster high book report emission of many other negative externalities, for example traffic congestion. In the first place, the emission is international.
No one country acting on its own can prevent other countries from continuing to resume at, emit gases. In the second place, the problem is historical. The atmosphere is continuing to warm up as a result of emissions which have occurred in the past, indeed since the beginning of the industrial revolution about two centuries ago. It may be impossible to stop continuing global warming simply by ending any further gas emissions, because pollutants already in the atmosphere will continue to contribute to report, global warming. Story Writing! And with the rapid growth of the world’s population, it is probably impossible to keep emissions at their current level, let alone to monster high report, reduce or to stop them.
This is a well-balanced answer, easily earning maximum marks — 4 marks for the snappy explanation of the meaning of a public good and 6 marks for on say no 2 drugs, the subsequent analysis of the issue posed by the question. It is book report important to essay on say, remember that only the monster high book final parts of context data-response questions and essay questions test the skill of evaluation. Evaluation is layouts for resume not required in the answers to high, earlier sections of the resume services at questions, including this part. Do not be misled by the word whether, which you may think implies that answers should include some evaluation. This is monster high book not the case. 03Extract C lists a number of story writing, benefits and high report costs that the UK economy may experience in future years as a result of continuing climate change. Story Writing! The first of these is flash flooding. This will exclusively have adverse effects, for monster high book report, example the destruction of layouts, property, agricultural land, crops and animals, and monster book report the loss of human life.
The second is a decrease in heating bills. If this occurs it will benefit every UK household, though as Extract C states, the benefits are likely to be offset by the increased use of for resume, energy to provide the power for air-conditioning systems which will grow in use if the climate becomes stiflingly hot in summer. The extract goes on to mention that ‘with fossil fuels becoming scarcer, the need to high book report, find more environmentally friendly methods of read a book write an essay scholarship, producing energy, such as solar, wind and water power, or geothermal energy, will become ever more pressing’. It is possible to take issue with this prediction, on the ground that it is now out of monster, date. In one important way, fossil fuels are not becoming scarcer. Vast quantities of shale gas lie beneath the integrity earth’s crust and the technology now exists to extract and use this quite recently discovered source of fossil fuel. Methane extracted from shale gas may soon be used in place of the diminishing conventional supplies of natural gas. Shale gas can be extracted at an economic cost, and book report it will be used for home-heating, to replace petrol and diesel fuel, and for the provision of electricity. Story Writing! But is this a benefit or a cost?
It is certainly a benefit in that it will enable economic growth to continue and standards of living to rise throughout the world. But it must always be remembered that shale gas is monster high a fossil fuel. Story Writing! Its use will allow global warming to continue, perhaps at an even faster rate than currently or in the past, with all the possible adverse effects on economies and on human life that have been predicted. Its growing use may also help to high book report, bankrupt renewable energy industries, particularly wind energy. If this is so, shale gas will bring to study diabetes, a stop, or at least slow down, attempts to monster high report, reduce dependency on fossil fuels. Air temperature rising by 5°C may spell disaster for read a book an essay, human-kind and life as we know it on planet earth. Extract C mentions a number of other ways in which climate change may have an impact on the UK economy. These include the decline of ski resorts in Scotland, the growth of hotel resorts in the south of the UK, and the effects on clothing sales, everyday food purchases, the construction industry, the types of crops grown in the UK, agricultural methods of production, and on how water is high used and stored. However, in resume services my view, all of these are relatively innocuous and are changes to which efficient markets, backed up by sensible government policy, can adapt. Monster Book! In conclusion, at the risk of being extremely pessimistic, I wish to layouts for resume, return to book report, the argument made in the previous paragraph.
Again in my view, the costs which the UK economy (and indeed most other world economies) may experience in future years as a result of continuing climate change are likely to be far greater, at least in the long run, than any likely benefits. Global warming will almost certainly increase air temperatures to a level at which human life as we have known it cannot continue. It may shift ocean currents in the North Atlantic so as to make the UK climate significantly colder, despite warming elsewhere in the world. Water shortages, if not occurring in the UK, may lead to attempted mass migration of people from poor to rich countries and to a book, wars which destroy economic activity as countries fight over water and other resources and fight against monster report, inward migration of people trying to escape growing poverty and read write an essay seeking a better life for themselves. The UK is likely to suffer directly or indirectly from all these results of climate change. This answer scores 16 out of 25 marks and high report is placed at the top of level 3 (10–16 marks). Although the candidate evaluates throughout the answer, and also in a concluding paragraph, the force of the evaluation is weakened because evaluation is not preceded by strong enough analysis.
The analysis should have focused on diagrams showing the negative and positive externalities produced by global warming. The candidate draws on the prompts in the Extracts, but fails to analyse the implications of the prompts sufficiently. The answer veers on the side of being too superficial. Nevertheless, it is sufficiently sound to story writing, merit the top of level 3 and monster book could possibly creep into the bottom of level 4. The grade descriptor for level 3 is: A2 |AO1 Knowledge and |AO2 Application of theories,|AO3 Analysis of economic |AO4 Evaluation of economic | |Levels mark scheme |understanding of theories, |concepts and terminology |problems and issues |arguments and evidence, | | |concepts and layouts for resume terminology | | |making informed judgements | |Level 3 |Satisfactory but some |Reasonable application to |Reasonably clear but may not|Superficial, perhaps with | |10–16 marks |weaknesses shown |issues |be fully developed and is |some attempt to monster report, consider | |(mid-point 13) | |Where appropriate, |perhaps confused in essay on say no 2 drugs places |both sides of the issue(s) | | | |reasonable use of data to |with a few errors present | | |Reasonable including some | |support answer |The answer is quite well | | |correct analysis but very | | |organised with some logical | | |limited evaluation | | |development | |