Justification By Faith

The subject of â€Å"Justification by Faith† is an argument, proposed by the Apostle Paul in Romans 1:17 where he starts by introducing God’s revelation to humankind concerning unrighteousness: That this was a God-given revelation in the beginning and throughout man’s history (faith to faith) within the â€Å"Gentile’s law of nature and the Jews law of Moses. However, Paul further exclaims, â€Å"that neither of them could be justified by their obedience to the respective laws under which they were, but that they both stood in need of the righteousness of God.† [1] As Paul is strictly a preacher of the Gospel of salvation through Christ Jesus, there is no doubt he had to find another style of presenting the Good News to factions in opposition to one another.His method of preaching in Romans catches the undivided attention of both the Jew and the Gentile Christian. Justification in the sight of God comes by faith in Christ Jesus alone, by which we c an also avoid the wrath of God that is consequential to the ungodliness and unrighteousness of men. Certain cults, like the Jehovah’s Witnesses seek gratification by including their works to implement salvation and only adhere to particular scripture verses to defend their position.They twist the interpretation of James 2:18, 20, and 26 by ignoring Ephesians 2:8-9, which is contrary to the analogy of faith and does not agree with the biblical map. Works are only what we offer out of thanks for the sacrifice Christ made for us but they search for every excuse and alternative possible and refuse abandon their false doctrine, which is a matter of their own â€Å"free choice†. In actuality, there is no â€Å"free choice† because not accepting Christ Jesus as our personal savior accounts as a sin, in the eyes of God. (John 5:26-29)â€Å"Justification† and â€Å"Faith† DefinedSince we are speaking of â€Å"Justification by Faith†, this is where it is appropriate to throw in the explanation of the two words, â€Å"justification† and â€Å"faith†.Let Us Define â€Å"Justification†According to Verlyn D. Verbrugge’s New International Dictionary of New Testament Theology†, the Greek word â€Å"justification† (dikaiÃ… sis), defines a vindication or an acquittal (p. 147), a dismissal of criminal charges. We can best explain â€Å"justification† by encountering someone having a traffic citation for speeding and that either he gets the infraction dismissed or he pays the fine. The driver may appear in court to dispute the citation but if found guilty the punishment for these charges remain impending. He is no longer guilty if the charges are dropped and they will be forgotten. If the fine remains and is not paid, penalty charges will be added and compounded until the driver pays the full amount incurred, is arrested, or is jailed and serves time as payment; or serves time and still pay s for the infraction.At this point, his license to drive can be suspended or revoked. The driver is no longer considered criminal once the fine is paid but this is where sin and the traffic citation divide. We cannot pay for our sin, our infractions against heaven. Our depravity is a spiritual matter that cannot be handled by physical means. Only a divine spiritual source can take care of both our spiritual, physical needs simultaneously, and that comes through blood sacrifice only. Christ Jesus, â€Å" In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;† (Eph. 1:7)Definition of â€Å"Faith†Now â€Å"faith† (πΠ¯ÃÆ'tÃŽ ¹Ãâ€š), as defined by Verbrugge, offers another method of having that traffic ticket expunged. It â€Å"denotes the trust that someone may place in other people or in the gods, credibility, and credit in business, guarantees, or something entrusted† (p. 462). Again, in this cas e it is Christ Jesus, because he paid every debt of man’s criminal activity. So here, we put our trust (â€Å"faith†) in Jesus to pay the penalty for our crime much like a father might pull out his credit card to pay for his child’s driving infringement; least the child ends up in jail for reoccurring and additional fees applied to that summons.What, or Who, is God’s RighteousnessIn Romans 1:17 we encounter the phrase â€Å"the righteousness of God†. This phrase does not necessarily refer to God’s uprightness, holiness, or purity, or His faithfulness in keeping His promises, nor the justice He will serve at the judgment but the means by which He provides salvation for humankind. Therefore, â€Å"the righteousness of God† refers to Christ Jesus for he obediently fulfilled all the prophecies of the Old Testament, which began in Genesis 3:15, and faithfully accomplished the Father’s promises.â€Å"And I will put enmity between yo u and the woman, and between your offspring and hers; he will crush your head, and you will strike his heel.† NIV Our faith in Christ Jesus, as our personal savior, justifies us in the sight of the Father because we testify to the pure, holy, and righteous blood that he shed to save us from sin, hell, the grave and eternal death. Here â€Å"the righteousness of God† and â€Å"the revelation of the wrath of God† compare to having a significant relationship.The Apostle Paul is actually teaching us that without receiving Christ and becoming a â€Å"son of God† (John 1:12) we remain criminals to the heavenly government of God and â€Å"the wrath of God†, which is eternal separation from the Father becomes the reward (in this case, punishment) for our unrighteousness. We cannot save ourselves and anything we claim good enough to make us free from sin and afford us â€Å"safe passage† into heaven is far and wide from what God sees as righteous (Isa iah 64:6). Besides, if man could provide his own salvation, there would not have been a need for Jesus to give his life at Calvary and his doing so would have been in vain. (Acts 4:12)Paul’s Theological TeachingsIn Romans 6:23, Paul teaches, â€Å"the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord† which means our salvation is a perfect salvation and could only be provided by God in the flesh (Emmanuel – God with us). We are saved from the stain of Adam’s disobedience in the garden, the murderous character of our tainted blood, the captivity of the enemy of God (Satan) and from eternal death, which is a result of all that  encompasses our sinful nature.All of this describes â€Å"the righteousness of God† but Paul goes one-step further when he turns to â€Å"the revelation of the wrath of God† in 1:18-32. In verse 19 Paul explains how the knowledge of right and wrong is revealed to man when he stat es, â€Å"Because that which may be known of God is manifest in them; for God hath shewed it unto them.† The knowledge of right and wrong, good and evil, righteousness and wickedness is made manifest within the heart of man even though â€Å"the imagination of man's heart is evil from his youth† (Genesis 8:21). The Spirit of God in man (that is the remnant spirit of God in man) plants this innate knowledge, of good and evil, and no matter how we cut it, this is proof that God created man, for this is His trademark, benchmark or ISBN.By the knowledge of good and evil in man, the homosexual knows his or her lifestyle is an â€Å"abomination† (Leviticus 18:22; 20:13; Deuteronomy 22:5; 1 Corinthians 6:9) to God as well as the reason why the thief escapes being caught. (Exodus 20:15; Leviticus 19:11; Jeremiah 2:26) From this point, we can understand how both â€Å"the righteousness of God† and â€Å"the revelation of the wrath of God† are related to one another. Jesus Christ is God’s righteousness and provides the only payment to expunge our criminality against heaven. God has created in man (revealed in man) the inborn knowledge of the difference between sin and righteousness.Paul Refutes Jewish IdeologyPaul was a Pharisee within Judaism and understood all the ins-and-outs of their doctrine, which became a plus for Christians of his day and has become a major advantage for us today because it leads to the defense of Christianity against Judaism, as well as, other belief systems. In Judaism, â€Å"justification by faith† was national pride and was a form of idolatry because they idolized the fact they were Jews. They further believed that the sect with the most righteous form of living (by keeping the law), of all the Jewish communities (Scribes, Pharisees, Essenes, etc.), would enter into heaven. In this, they believed the gentile would not qualify for salvation, seeing the Jews were the only chosen nation of God an d possessed the Laws of God. They, the Jews, did not extend the blessing to other nations and held them as cursed of God, the products of eternal damnation. [2]However,  Paul refutes this ideology in Romans 10:1-13, bringing into reason â€Å"Since they did not know the righteousness of God and sought to establish their own, they did not submit to God's righteousness. Christ is the culmination of the law so that there may be righteousness for everyone who believes.† (Romans 10:3-4) Paul repeats this same doctrine to the Galatians, using different words: â€Å"Is the law then against the promises of God? God forbid: for if there had been a law given which could have given life, verily righteousness should have been by the law.† (Gal. 3:21) Reading deeper into these two statements, Paul is expressing that the attitude, of the Jews, was nothing more than legalistic prejudiced against other nationalities and cultures but Paul corrects this in the second sentence of Roman s 10:3-4, where he refers to the â€Å"culmination†.This â€Å"culmination† breaks down the barriers of selectivity and makes â€Å"faith† inclusive â€Å"for everyone who believes.† The use of the word â€Å"culmination† concludes that Christ has fulfilled every requirement needed to save humankind, which then makes everyone (Jew and Gentile, alike) with faith in Christ Jesus, an inclusive entity. â€Å"Justification by Faith† in Christ Jesus is â€Å"the only way, the only truth, and the only life. And No man comes to the Father but by him† (John 14:6) is what the Apostle Paul’s argument is all about. Paul leaves no doubt in the minds of Christians or the ungodly, unchurched peoples how salvation is attained. That it only comes through being â€Å"justified† through our â€Å"faith† in what Christ has done on the Cross of Calvary for all humankind.That he will return, looking to find a church without â€Å"spot or wrinkle† (Ephesians 5:27). â€Å"But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.† (Hebrews 11:6) We are â€Å"rewarded† the â€Å"justification† needed to become right in the sight of God. It is this writer’s opinion that Christ has already cleansed us of the â€Å"spot†, the sin we inherited from Adam’s disobedience when we accepted him as our personal savior but our â€Å"wrinkles†, our personal sins, still need ironing out. The final change will be â€Å"ironed out† on the day of rewards, the rapture because (as for now) we can only strive for the perfection but Christ will do the ultimate perfecting.God’s Wrath in Paul’s Concept of SalvationAccording to the â€Å"Evangelical Dictionary of Theology† by Baker House, there are six words to describe the emotions associated with God†™s wrath. â€Å"These terms, all of which express varied shades or degrees of wrath, anger, displeasure, or vexation, are the following: anph (to be angry); zaaph and derivatives (to be wroth, displeased, sad); hemah (indignation, anger, wrath); kaas (to be angry, wrathful, indignant, vexed, grieved); ebrah (rage, wrath); qasaph (to be displeased, angry, wroth); saneh (to hate). In the New Testament, there are more than twenty references to the anger, wrath, or vengeance (orge) of God and a few references to indignation and displeasure (achthos).† [3]Although there may appear to be varying degrees of God’s wrath, I must go along with Paul’s theology that â€Å"If you’ve committed one sin, you’ve committed them all.† Let us return to Romans 6:23, â€Å"For the wages of sin is death†¦Ã¢â‚¬  All sin leads to death and eternal condemnation. There is no leeway for what the secular world may deem, i.e., â€Å"a little white lie†; a lie is a lie and holds no degree of sensitivity in God’s righteousness. Nevertheless, salvation is explained by Paul in Romans 5:18, â€Å"Therefore as by the offence of one judgment came upon all men to condemnation; even so by the righteousness of one the free gift came upon all men unto justification of life.† That gift is Christ Jesus as the apostle previously proclaimed, â€Å"For by grace are ye saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast.† (Ephesians 2:8, 9)A Door with Two SidesDr. Elmer Towns, in his book â€Å"Core Christianity†, compares â€Å"conversion to a door with two sides.† â€Å"Human activity is on one side of the door, while God’s activity is on the other side.† When we convert to Christianity, we are pushing on the door to heaven and God, on the other side, regenerates us into new life. We are then born again and the world, God, sin, and ourselve s appear to us in a different and opposing light of understanding. [4] If we are â€Å"pushing on heaven’s door† then we have accepted Jesus because he states, â€Å"I am the door: by me if any man enter in, he shall be saved, and shall go in and out, and find pasture.† In the case of the  Apostle Paul, however, I interpret it as God opened the door and dragged him inside. His encounter with Jesus Christ made a life changing impact that not only altered Paul’s way of thinking and his mission but also rearranged the course of human and church history.He, Paul, admittedly states this in Romans 1:1, â€Å"Paul, a servant of Jesus Christ, called to be an apostle, separated unto the gospel of God†. He was definitely â€Å"called and separated†, made a â€Å"prisoner† (Ephesians 3:1; 4:1) of Christ Jesus in a fashion that no other apostle had experienced. The reason I have used the verb â€Å"had† is because there were only thirtee n apostles; the thirteenth being Paul, replacing the rebellious Judas. By biblical standards, an apostle is a person who was a Jew, had seen Jesus face-to-face, planted churches, and had authority over the church, in various regions. There are people today, using the title â€Å"apostle† unjustifiably because they do not fit all the requirements but may have an â€Å"apostolic anointing†. Therefore, if they are given a title, perhaps it should be â€Å"anointed one† and not â€Å"apostle†.Paul on FaithPaul has written many epistles, containing verses, about â€Å"faith†. â€Å"Now faith is the substance of things hoped for†¦Ã¢â‚¬  (Heb. 11:1); â€Å"But without faith it is impossible to please him:† (Heb. 11:6). These are just a few examples, outside of the letter to the Romans, in which Paul speaks on â€Å"justification†. â€Å"Is the law then against the promises of God? God forbid: for if there had been a law given which c ould have given life, verily righteousness should have been by the law.† (Gal. 3:21) This was also another argument against the Jews, concerning their belief in salvation by the law.ConclusionI praise God for giving us the Apostle Paul, for through him we have an in depth analysis of what â€Å"justification by faith† truly is, as long as we stick to verifying scripture with scripture and not take it upon ourselves to explain these things out of selfishness and ignorance. As I have tried to prove, there is no contention between Paul’s writings on faith and that of the Apostle James because James is not purporting that salvation comes by works. We must all come to the understanding that good deeds are what we do as a gesture of good will and appreciation for the blood sacrifice that Jesus Christ made to save us from sin, death, the grave and the eternal tortures of hell. The Apostle Paul also teaches, in 2 Timothy 4:3, that â€Å"†¦the time will come when th ey will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears;†The time is here and now because we find these false doctrines just about everywhere we turn. Paul charges us to, â€Å"Preach the word; be instant in season, out of season; reprove, rebuke, exhort with all longsuffering and doctrine.† (2 Timothy 4:2) We must also consider that, â€Å"whosoever shall call upon the name of the Lord shall be saved. How then shall they call on him in whom they have not believed? and how shall they believe in him of whom they have not heard? and how shall they hear without a preacher? And how shall they preach, except they be sent? as it is written, How beautiful are the feet of them that preach the gospel of peace, and bring glad tidings of good things!† (Romans 10:13-15)Paul teaches, in this verse, that it is our obligation to correct those who have not received the true doctrine of Christ. This charge is an ext ension to the Great Commission. Just as well as there are those who have not the gospel, there are those that have not the true gospel. The apostle further warns, â€Å"Whosoever transgresseth, and abideth not in the doctrine of Christ, hath not God. He that abideth in the doctrine of Christ, he hath both the Father and the Son. If there come any unto you, and bring not this doctrine, receive him not into your house, neither bid him God speed: For he that biddeth him God speed is partaker of his evil deeds.† (2 John 1:9-11)

Characteristics of the Byronic Hero

The Byronic hero–so named because it evolved primarily due to Lord Byron’s writing in the nineteenth century—is, according to Peter Thorslev, one of the most prominent literary character types of the Romantic period: Romantic heroes represent an important tradition in our literature . . .. In England we have a reinterpreted Paradise Lost, a number of Gothic novels and dramas . . . the heroic romances of the younger Scott, some of the poetry of Shelley, and the works of Byron. In all of these works the Byronic Hero is the one protagonist who in stature and in temperament best represents the [heroic] tradition in England. Thorslev 189) A Byronic hero exhibits several characteristic traits, and in many ways he can be considered a rebel. The Byronic hero does not possess â€Å"heroic virtue† in the usual sense; instead, he has many dark qualities. With regard to his intellectual capacity, self-respect, and hypersensitivity, the Byronic hero is â€Å"larger than life,† and â€Å"with the loss of his titanic passions, his pride, and his certainty of self-identity, he loses also his status as [a traditional] hero† (Thorslev 187). He is usually isolated from society as a wanderer or is in exile of some kind. It does not matter whether this social separation is imposed upon him by some external force or is self-imposed. Byron's Manfred, a character who wandered desolate mountaintops, was physically isolated from society, whereas Childe Harold chose to â€Å"exile† himself and wander throughout Europe. Although Harold remained physically present in society and among people, he was not by any means â€Å"social. Often the Byronic hero is moody by nature or passionate about a particular issue. He also has emotional and intellectual capacities, which are superior to the average man. These heightened abilities force the Byronic hero to be arrogant, confident, abnormally sensitive, and extremely conscious of himself. Sometimes, this is to the point of nihilism resulting in his rebellion against life itself (Thorslev 197). In one form or another, he rejects the values and moral codes of society and because of this he is often unrepentant by society's standards. Often the Byronic hero is characterized by a guilty memory of some unnamed sexual crime. Due to these characteristics, the Byronic hero is often a figure of repulsion, as well as fascination. Harold Bloom notes that â€Å"[b]etween them, the Brontes can be said to have invented a relatively new genre, a kind of northern romance, deeply influenced both by Byron's poetry and by his myth and personality, but going back also . . . to the Gothic novel and to the Elizabethan drama† (1). When Byron died at the age of thirty-six in 1824, Bronte was but eight years old. Bronte's youthful age, however, did not preclude Byron and his works from having a profound effect on her and her writing; indeed, the â€Å"cult† of Lord Byron flourished shortly after his death â€Å"dominating [the Brontes'] girlhood and their young womanhood† (Bloom 2). Of the Bronte sisters' background, Tom Winnifrith comments that a â€Å"study of the Brontes' juvenilia provides confirmatory evidence of the sisters' preoccupation with the aristocracy, their emancipation from Victorian prudery, and the attraction of the Byronic hero, beautiful but damned† (4).

A Brief History of Byzantine Art Essay

Byzantine Art important pictorial Document St.mark’s basilica, Venice italy [pic] four co-emperor ruling plan called The Tetrarchy [pic] Cupola at the transept crossing [pic] The most famous of the surviving Byzantine mosaics of the Hagia Sophia in Constantinople – the image of Christ Pantocrator on the walls of the upper southern gallery [pic] Miniatures of the 6th-century Rabula Gospeldisplay the more abstract and symbolic nature of Byzantine art. [pic] Frescoes in Nerezi near Skopje (1164), with their unique blend of high tragedy, gentle humanity, and homespun realism, anticipate the approach of Giotto and other proto-Renaissance Italian artists.[ [pic] Leaf from an ivory diptych ofAreobindus Dagalaiphus Areobindus, consul in Constantinople, 506. Areobindus is shown above, presiding over the games in the Hippodrome, depicted beneath. [pic] Mosaic from San Vitale in Ravenna, showing the Emperor Justinian and Bishop Maximian of Ravenna surrounded by clerics and soldiers [pic] Mosaic from the church of Hagios Demetrios inThessaloniki, late 7th or early 8th century, showingSt. Demetrios with donors [pic] Helios in his chariot, surrounded by symbols of the months and of the zodiac. From Vat. Gr. 1291, the â€Å"Handy Tables† of Ptolemy, produced during the reign of Constantine V. [pic] An example of Macedonian ivorywork: the Forty Martyrs of Sebaste, now in the Bode Museum,Berlin [pic] The Annunciation from Ohrid, one of the most admired icons of the Paleologan Mannerism, bears comparison with the finest contemporary works by Italian artists [pic] Modern Orthodox mural from Israel using a depiction of the Nativity of Christ little changed in over a millennium [pic] Byzantine Manuscripts (sixth to 15th century) In the Byzantine Empire, another tradition of manuscript illumination emerged. The most influential characteristics of Byzantine manuscript painting were the abundant use of precious metals, especially gold; the choice of bright colors; and the use of empty space, often filled with gold leaf, as background. Byzantine illumination was frequently devoted to narrating biblical stories. Styles of depicting the human figure varied in Byzantine art over the centuries. Sarcophagus St.peter [pic] The so-called Gothic chieftain, from the Mosaic Peristyle of the Great Palace of Constantinople [pic] Saint Peter mosaic from the Chora Church [pic] A pre-Iconoclastic depiction of St. Demetrios at the Hagios Demetrios Basilica in Thessaloniki. [pic] The mosaics of St. Mark’s Basilica in Venice [pic] mosaic in San Vitale in Ravenna [pic] Byzantine mosaic in Ravenna’s Basilica di Sant’Apollinare in Classe [pic] Latin cross plan A view of Hagia Sophia, Istanbul [pic] Location within Turkey Istanbul [pic] Interior view of the Hagia Sophia, showing Islamic elements on the top of the main dome. [pic] Stone remains of the basilica ordered by Theodosius II, showing the Lamb of God [pic] Construction of church depicted in codex Manasses Chronicle (14th century) [pic] Groundplan of the Hagia Sophi

Research about Andre Crouch (famous gospel singer) Paper

About Andre Crouch (famous gospel singer) - Research Paper Example He was a vocal arranger for LA recording sessions and was quick to infuse the much needed gospel sounds into the songs. He worked with various artists, perhaps picking their styles to create a unique intonation for his music. His gospel music genius can perhaps be seen by listening to his songs such as He’s Worthy, Can’t Nobody do me like Jesus, Man in the Mirror, The Force behind the Power, and Let the Church say Amen (Jones 83). Besides composing gospel sons, crouch is also the author of the best selling and an award-winning book Playing God: Redeeming the Gift of Power, among other books that have been acclaimed internationally. Andy was the senior editor of Christian today, a magazine that majorly talks about Christianity and perception of people about religion in the contemporary times. He has directed religious documentary videos as well as a number of missionary works all over the world. He served as a senior board member of Fuller Theological Seminary, Christian organization concerned with child exploitation in Southeast Asia and Haiti. He has contributed in a number of articles tackling diverse topics ranging from religion to economy; politics to social warfare. He is rightly referred to as the founder of modern gospel. He did help to bridge the gap between black American and White churches (Reed 23). His signature style is the slow and tuneful gospel music that has mostly be mistaken to be secular. His spiritual growth was inherited from his father, a staunch church founder who greatly influenced Crouch’s spiritual growth Although he is dead, Andrew Crouch will be best remembered for his role in black American gospel music. He influenced Americans in every simple way possible. He was charismatic and perhaps helped to bridge the gap of the racial divide that has been part of American identity for a considerable length of time. He communicated through his song in a unique way than others of others before his time. He

Kind Hearted Woman Blues by Rober Johnson Essay Example | Topics and Well Written Essays - 500 words

Kind Hearted Woman Blues by Rober Johnson - Essay Example Composer: The song was composed on November 23, 1936 in San Antonio, Texas by the legendary bluesman and American musician Robert Johnson. This was the first blues song that Johnson recorded in his successful attempt of blending the style of a number of other popular and contemporary blues composers including Leroy Carr, Kokomo Arnold, and Joe Pullum. Singer: Robert Johnson recorded this song in 1936. Known for his combination blues style of music, â€Å"Kind Hearted Woman Blues† is Johnson’s only guitar solo ever recorded. Johnson’s blues style is a remarkable instance of blending a variation of music including song writing talent, singing and guitar skills. Recognized as one of the 100 Greatest Guitarists of all time (in Rolling Stone’s list), Robert Johnson travelled places, experienced different long term relationships, learned various blues styles, and instilled everything gathered in his music. This is why Johnson’s blues style differs remarkably from other blues singers and musicians of his time. Performance practice: With â€Å"Kind Hearted Woman Blues†, Robert Johnson started his first and only recording session with a short guitar solo in 1936. The song was recorded in a temporary studio with Johnson facing the wall while performing. Witnesses say he was a shy and reserved performer. However, this method of performing while facing a corner would also indicate the technique of corner loading in practicing which is done in order to enhance the sound of the guitar. A typical Robert Johnson recording session starts with a short warm-up session and then slowly moves on to practicing a mixing fingerstyle and pick playing. Historical period: Blues music in the 1930s is a significant part of pre-war blues music which remarkably witnessed creation and improvement in a number of popular blues styles including various traditional and rural country blues, urban blues, big band blues, and a combination blues of

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Business Combnations - Essay Example Most of the mergers or acquisitions of LVMH happen to expand the company and to cross the geographical boundaries. A company interested to acquire another company has to look into every aspect of the functioning of the company. A company will have many departments and audit should be done on every departments accounts and then valuate the viability of merger of acquisition. After audit if it is found that functioning of all the departments are healthy and profitable then a memorandum is made between the companies. Mergers can take place only when there are healthy relations between both the companies. Mergers also depend on the percentage of shares acquired of the firm. If the company to be acquired has good standing in the market, high share value and high points in the share market then we can say that a company is worth to be acquired or suitable for acquisition. Merger or acquisition sure has its impact on the employees and shareholders who are the unforeseen assets of the company. It is well known that any merger will have its pro's and con's. Some mergers happen for profit and some not to incur losses. Employees may or may not be benefited by the merger. The new management may not provide all the facilities unlike the earlier owner. The new company will definitely try to curb miscellaneous expenses and cut management costs. In order to cut costs they may reduce number of employees working per department. After merger employees may be asked to change their shift timings, move from one de partment to another etc. employees need to co-operate with the new management.Mergers may also have its negative effects on the employees and marketing strategies then the relation between the management should be positive enough so that there is no misunderstanding between the employer and the employee. After acquisition the new company will have their own planning strategies that might be entirely different and the employees need to co-operate and understand with new working policies and targets of the new company. One of the frequent reasons of merger (acquisition) failure is poor management and insufficient and poor management of financing comes second. For starting or relocating or expanding a business sufficient capital is required. Having good financing is not enough in attaining profits; proper knowledge and planning are required to manage it well. These help in strengthening the management of financing and avoid common mistakes like miscalculating or underestimating the cost. Venture capitalists are the most common source of equity funding. Venture capitalists may be institutional risk takers, financial institutions, wealthy persons, etc. and most of them specialize in industries. Venture capitalists are risk takers and show interest only in three to five year old companies that result in more than average profits. LVMH intensified the challenge of global integration and is showing high-end results, impact on the part of economical evolutions on nations mainly on cities and individual person's life standard. Because of the globalization and LVMH the technologies are exchanged. Globalization is having tremendous impact on cities. Cities are transforming into great industrial belts. As the industries grow there will be visible impact on the economy. Job opportunities grow and innumerable colonies are developed. The growth is multi-fold and the technology exchange migration takes place. People of

The federal budget deficit Research Paper Example | Topics and Well Written Essays - 1000 words

The federal budget deficit - Research Paper Example The US budget picture has evolved through leaps and bounds. The current federal deficit for the government went down by 37% from the previous years pictures. The decline in the fiscal deficit shows improvement in the economy. But is the decline in the deficit figure enough for the economic longevity and prosperity? What factors can help in improving the deficit picture of the country? We will conduct an analysis to comprehend the federal budget deficit situation and find answers to the above questions. The US deficit has not always been in a bad shape with the 19th century showing surplus figures and holding deficits only during wartime. Initially the deficit was very small with numbers peaking in the World War 1 and 2. During the 1960s till the 1990s there can be seen a steady increase in the deficit. The deficit crossed the ten percent GDP barrier owing to the crises that hit the economy in the year 2008. The movement of the federal deficit can be seen from the graph below: (Usgove rnmentspending.com, 2013) Now looking at the deficit scenario one needs to understand the current market implications and the forecasted figures of the federal budget deficit. ‘The federal government took in $680 billion less revenue than it spent, or about 4.1 percent of gross domestic product. In 2012, those numbers were $1.087 trillion and 6.8 percent of GDP. That means the deficit fell a whopping 37 percent in one year.’ (Irwin, 2013) The reason behind the figures for the year 2013 is the increase in the government receipts due to the high payroll taxes that are a result of the increased income. The effect of this is the decrease in expenses is terms of unemployment insurance benefits that decreased with the improving economy. The US economy has cut its fiscal tail in order to achieve the results. But one can argue that the decline in the federal deficit is very rapid. The austerity measures taken by the government has taken a deficit that was 4.5% in the first quar ter of the this fiscal year to a 3% when the figures were published at the year-end. According to many economists the drastic measures by the government cannot improve the economy in the long run. The economy needs to grow at a steady pace keeping all its factors of production in line, leading to a better and positive growth of the country. ‘Goldman's projections indicate that simply allowing the economy to grow will result in significant deficit reduction without painful spending cuts.’ (Carter, 2013) Comparing the US economy with Greece and the like shows that the position of the economy is not alarming but a fixture is required in the near future. The President has laid a budget that does not tackle the federal budget deficit in its entirety; he has set a commission in order to obtain ideas as to bridging the gap between the public revenue and expenditure in a more meaningful manner. The effects of these changes have to be long term. The economy needs more than just an yearly decrease in the federal budget deficits. The decrease in the figure is good but not enough for long-term survival of the economy. The recent shutdown of the government offices show that deep down the picture is not that simple and although the economy has recovered from the downfall and crunch much needs to be done before it is stable in terms of growth and activity. The changes in the US economy are evident with improved standard of living and better job opportunities in the country. But along with the positives

Open a new restaurants that serves the best and health foods based on Term Paper

Open a new restaurants that serves the best and health foods based on body metrics - Term Paper Example describe the challenges and risks when it comes to the opening of the restaurant and a recommendation of how the challenges and risks can be properly mitigated. The first challenge is privacy concerns in regards to the information given on the health status of a person, the age as well as the weight of a person. These are often personal matters that many people want to remain private (Reuvid, 2013). It is imperative to understand that there are a variety of reasons as to why people place high value when it comes to protecting their privacy, confidentiality as well as their security of health information. Many psychologists often depict privacy as a basic need which has a right intrinsic value. For this reason, they often see privacy being objectively valuable in itself and they believe that it is an essential component of any human being. Privacy of information ensures that several human fundamental values are observed. For example, personal autonomy which is the ability to make personal decisions is observed, secondly, privacy ensures individuality in that a person can be able to become oneself and do whatever one likes. Thirdly, a person often values his or her privacy in order to obtain respect from the society. Finally, privacy is often safeguarded by persons in order to ensure that they still remain with their dignity as well as worth as human beings. For this reason, it can be seen that most of the potential customers might be reluctant to give out information that they consider private. Further, they do believe that there is no law that exists that prevents the restaurant from revealing information about their weight, state of health and age to the public. For this reason, most people will be reluctant when it comes down to giving out the vital information needed to run the restaurant. Further, there may also be fears regarding the safety of the information with the employees. There are several employees that are malicious and might spread personal and

Hydro-power and the wildlife damage it causes Essay

Hydro-power and the wildlife damage it causes - Essay Example She implies despite the positive benefits brought about by Hydro power, the environment suffers a great deal of its side effects, notably, extinction of some form of wildlife. With the emergence of Global warming, dams have received a lot of attention despite the fact that they generate huge quantities of electricity without really burning fossil fuels. In this context, multiple questions have been raised concerning the environmental effects of hydropower. Among them, Are dams carbon neutral? What of the energy used in the construction of Dams and the reservoir that are created behind them (deforestation and decomposition). Notably, endless questions have been raised over the impact of Hydropower on the surrounding environment and more particularly, its impact on wildlife. As opponents of hydropower indicate, it appears as if enough evidence has been found to discredit Hydropower as an efficient energy source. Having that in mind, the paper seeks to discuss the negative environmental effects posed by Hydropower with a view to elucidate on the destruction of wildlife habitats. In a study by FWEE on provision of balanced information for water as a renewable energy resource in the North West, it is indicated that, some specific impacts due to a hydroelectric power projects mainly depends on the following variables (FWEE 1). Firstly, the size and the flow rate, secondly, the climatic and habitat conditions, thirdly, design type and operation of the project. Additionally, the habitat and climatic conditions as well as, the project locations play a significant role. In terms of the project location, upstream or downstream location often comes in focus. This clearly reveals that the dynamics involved in hydropower generations affect various sectors that are directly or indirectly related to its production. McCully, in his article of big Dams big trouble, published by New internationalists, close to sixty percent of the world’s largest river system are mostly fr agmented by numerous dams and considerable water withdrawals for irrigation purposes. This implies that the massive fragmentation of and replumbing of the world largest rivers has led to an increased loss of fresh water species. In this regard, close to a third of the world fresh water fish species have been reported as extinct, vulnerable or endangered. Additionally, IEA Hydropower Agreement on Hydropower and the environment: present context and the guidelines for future Action, indicates that construction of the reservoir increased the storage water, thus covering riparian areas stream banks (23). Following these, inundation occurs. A change in the habitat conditions leads to the emergence of a new equilibrium. While this is happening, different set of dynamics begin to affect how species grow feed, spawn and grow within these regions. Though a rise in water levels increase electricity production, the riparian zone is affected since some of the vegetation initially covered by wate r may never re-establish McCully further indicates that a significant but unknown number of , amphibians, shell fish, as well as plants and birds that depend on Fresh water ecosystems are on the verge of extinction or as such, at risk (620). He further points it out that Flooding from Dams has the potential to disrupt Wildlife

Marketing Research Tools Paper wk 3 Essay Example | Topics and Well Written Essays - 1000 words

Marketing Research Tools Paper wk 3 - Essay Example On the other hand, research areas having ample and reliable data available require use of information extracted from secondary sources. According to nature of sources and research methodology, different tools are selected and used by researchers. All these tools have their own use, advantages and disadvantages. Therefore, it is important for researchers to ensure that research tools are selected that are suitable for the nature of research approach i.e. primary and secondary and research methodologies i.e. quantitative and qualitative. Primary research itself consists of data collection from original resources. Primary research can employ qualitative and quantitative research methodologies and there are various tools that can be used for this research approach. Usual tools used for this research includes surveys, interviews, direct observations, experimentations, and focus groups. These tools help in collecting data that is specific to the needs of researcher. Furthermore, researcher s can levy necessary controls on the research process to maintain the integrity of data collected and using it appropriately for the purpose of research (Baker, 2012). Hence, it is possible for researchers to ensure that data collected is valid and trustworthy along with being authentic and reliable. These research tools are usually time and cost consuming however due to direct relevance to the research purpose, it is preferred for areas of research that have not been explored earlier or to corroborate with existing studies (Onkvisit & Shaw, 2008). As far as secondary research is concerned, it is use of data that is already available from existing sources. The tools available for secondary research include information available on the internet, market research conducted by government and individual market research firms, data available on firms’ websites and stock exchange, information from public and private agencies, personal records and published print sources (peer-review ed papers, books and journals) (Baker, 2012). While using secondary data, it is important to ensure that the data is appropriate for the purpose of research. Relevance of data in terms of time period is another major issue that researchers need to take care of. However, sometimes use of secondary data is beneficial as it is readily available and relatively cheap (as the original research expenses have been already incurred). While performing primary and secondary research, quantitative and qualitative research methodologies can be used depending on the nature of research. While selecting a research methodology, the purpose of research and type of information required for the research is determined which further shapes the nature of research. In quantitative research, the usual tools used for primary research are surveys, financial figures produced by the entities themselves, experiments and numerical readings produced by them, statistical modeling and examination through stratificat ion and segmentation (Onkvisit & Shaw, 2008). These tools help in acquiring first hand information which is reliable, valid and objective yet expensive to acquire. For quantitative research to be performed through secondary sources, the tools used can be numeric modeling and statistical analysis. These tools are used to perform correlational analysis of data already available through print and electronic sources. Example of it can be examination of industry performance by performing statistical examination of market

Why did the Macmillan administration chose to opt for EC membership Essay

Why did the Macmillan administration chose to opt for EC membership - Essay Example The treaty worked to free the movement of goods, services, capital and labor between its member nations. In 1960, as a result and in an attempt to destroy or absorb the proposed EEC common market, the U.K. and Sweden created the European Free Trade Association (EFTA). EFTA was an attempt to conserve Britains role and economic position which was remotely attractive to major Western European states. In 1963, the Prime Minister of U.K., Harold Macmillan, decided to change Britain’s foreign policy towards the European Community and attempted to join EEC. He suggested to unite the member countries of EFTA with ECC to incorporate all of Europe but France vetoed further talks. Macmillan saw that the exclusion from EEC was damaging to Britain both economically and politically. The following sections will presents the reasons why Macmillan’s administration chose to opt for European Community membership. To maintain Britain’s world role in the face of economic enervation, Macmillan did not follow Anthony Eden’s policy of reliance on the United States. He evolved the British strategy to include a new relationship with Europe to complement the increasingly unreliable American proxy (Ruane & Ellison 2004:1). Eden’s administration saw that the maintenance of the British extended empire placed a burden on the countrys economy beyond its resources. They manipulated a foreign policy to ensure that the country’s strength was equal to its obligations. They aimed to persuade the U.S. to assume burdens of an international defence organization while retaining for Britain as much political control as possible. This was the only solution Eden came up with to spread the burden of two major obligations for which Britain currently bore primary responsibility. In January 1957, the Suez Canal crisis brought down Prime Minister Eden and caused his resignation to be succeeded by Harold

Diffusion and osmosis lab Essay Example for Free

Diffusion and osmosis lab Essay What happened to the iodine, the starch, the glucose and the water in your experiment? Explain which molecules did/did not cross the membrane and in which direction they moved. Substance Prediction Results Starch Starch will stay in the cellulose tubing The results were correct Glucose Glucose will defuse and move out The results were correct Iodine The iodine will change color The results were correct 2. Did the results of your experiment agree or disagree with your prediction? Why or why not? My results agreed with my prediction because the starch, glucose and iodine stayed in the cellulose tubing, or the water changed color. 3. Considering your observations, suggest an explanation for the results of your experiment. What assumptions did you make about the nature of the membrane? The cell contains what enters. Small molecules can quickly go through and out of the cell. Meaning the small molecule diffuse through the process of osmosis. Lab 2 – ELODEA Objective: To demonstrate and explain effects of osmosis across a living membrane. 1. What changes took place in the Elodea cell after salt water is added? Did these changes agree or disagree with your prediction? Why or why or not? When the salt was added to the water it caused the water concentration to lessen but the solute to increase. There are more water molecules going out of the cell than in the cell the cell membrane began to shrink known as dehydration. 2. Explain, in detail, the process that caused these changes to occur. The elodea would not be able to live in salt-water environment because there is a greater concentration of the water in the cell. When there is salt in the cell, it would die. 3. Is this process reversible? If so, describe how you would reverse it? Yes, I think this process is reversible. You would have more of a salt solution then a water solution. Then you would add the water to the concentration then it will be revered

History and Marketing Strategy of Apple Inc

History and Marketing Strategy of Apple Inc History and background of the company: The history and the back ground of Apple Inc which used to be Apple Computers, Inc when they first started in California USA and become a multinational company which started from scratch. Apple Inc mainly deal with consumer electronics, computer software and commercial servers. Apples most famous products are iPhone, iPod and Macintosh computers. Apple was formed by Steven Paul Jobs 21 and Stephen Gary Wozniak 25, they created a first Apple computer on 1st April 1976 named Apple I. Apple was incorporated in 1977 in California (Apple website, FAQ). For about 20 year Apple computers Inc was predominantly a manufacturer of personal computers that includes Power Mac, Apple I, Apple II, Apple III and Macintosh lines but also faced unstable sales and low market shares. Steven Job resign the company in 1985 due to infighting and he rejoin in 1996 as a CEO of the company. He brought with him a new corporate philosophy of identifiable product and simple design. Introducing a great success of iPod music player in 2001, Apple become a leader in consumer electronic industry, dropping computer from its name and keeping on to release the iPad and iPhone. And in present Apple is one of the biggest technology company in the world, with the revenue of over $60 billion per annum[ Hormby Thomas, A history of Apples Lisa, 1979-1986, Low End Mac, 6th October 2005] [Apple website]. Strategy and Implementation Philosophy of identifiable product and simple design help Apple maintain their growth in early 80s and a huge part of success is due to its leadership in the education sector, which was one of the brilliant business strategy, education environment provided Apple with a great amount of loyal users around the world. They started targeting into education sector in Cupertino California by a very important agreement between Steve Job and Jim Baroux of (LCSI) Logo Computer Systems Inc, which was an agreement to donate one Apple II and one Apple LOGO software package to every public school in Texas. The idea was great and the philosophy behind that was that if they donate one package to each school then this would result in thirty more packages to sell, which is estimated as the number of students in one classroom at least and ofcourse some more purchases are possible from parents who wants to support the technology to make their children to stay aware of technology, learn more and get fami liar. This significant agreement between Apple Inc and Logo Computer System Inc (LCSI) was a great success though out the State, which establish a very strong and constant presence for Apple in the schools throughout California. This become Apple IIs era in schools right across the United States and the leadership of Apple in education sector around the world continues in the most critical time of 1980s. Therefore Apple made it extremely well in education sector as well as in the families, as parents carry on supporting the learning experience for their children after school [Wikipedia, Article, Apple Inc]. Technology used and Product/Services: Apple Inc mainly deal with consumer electronics, computer software and commercial servers. Apple is an example of itself when comes to technology, the technology they introduce since they first launched and until today. Although there was issues in some software they introduced as well as their Operating system that it is not users friendly but Apple keep identifying the issue efficiently and effectively, for example using Microsofts Power point compare to Apples keynote which takes powerPoint apart and figures out how the files work that makes it more user friendly [Bill Thompson, 19th Sep 2007, BBC News]. They are famous to introduce the best touch sensor in their products which includes Mac, iPhone, iPod and iPad recently, best example is iPhone which is still the leader in smart phone technology and introduced the best touch screen system in the market so far. Apple have introduced various operating system for its products like Macintosh, PowerBook, iPod, iPad and iPhone. Apple always use their own Operating system in all of their products, one of the most famous operating system is iOS which is used in iPhone and OS X, Mac OS X is the worlds most advanced operating system. Built on UNIX foundation and designed simple as of this is one of the fundamentals of the company. This is why Mac have a reputation of innovative, compatible, highly secure and user friendly [Apple website, Mac OS X, Over view]. OS X series includes Snow Leopard which was unveiled on 8th of June 2009 and was available to purchase in Cupertino, California and on their website and by 28th of August 2009 in the market throughout the world [Apple website, library, Mac OS Snow Leopard]. Mac OS X Versions are Mac OS X Server 1.0, Public Beta, then from 10.0 to the Latest version is Mac OS X v10.6 Snow Leopard and 10.7 Lion announced on 20th of October 2010 and expected to release by 2011. Apple have also introduces digital cameras, portable CD audio players, speakers, video consoles and TV appliances [Wikipedia, Apple Inc, Mac OS X]. The main markets where Apple operates: Apple is a multinational company based in Cupertino, California and their product sales in more than 50 countries, one of the most recent successful product of Apple is iPhone, it is available in over 50 countries and more to be added in their network later and Apple iPhones are making their production company to increase their yearly products because the of their extreme success and they are selling it very well indeed and iPhones are increasing their market share day by day and quit fast. [Amit Bhawani, Information guide, Apple inc, smart phone launch, vodaphone] As the graph shows, their main markets where they operates are USA, Japan, Germany, France, Spain, Canada and UK, over all they are doing very well in Europe and USA itself, besides that they are also in Mexico, Netherland, Sweden, Austria, Finland, Italy, Belgium, Portugal, Switzerland, Denmark, Ireland, New Zealand, Hong Kong and now in India as well. Success of iPhone is a great boom to Apple Inc. Main Products and Ethical challenges: Apples worldwide smartphone shares boost upto 17% due to iPhone sales reached 7 million in 2009 including the continued version of iPhone 3GS and they are expected to be more because later in the same year they started selling iPhones in China, where as Chinese made a copy version of iPhone with different software but unable to beat the original one ofcourse. [Website Mac Rumors, News, Smartphone market worldwide] Worldwide mobile phone market experienced less growth as compare to their early years and in this year the growth was as low as 0.1 percent but smartphones was continuously growing their success and performance and growing their market upto 12.8 percent nearly every year. They face great competitors like Microsoft which is focusing on delivering software to cheap product personal computers while Apple delivers rich engineered products. Apple relied on high profit margins and never developed a clear response. Other competitors are IBM and Dell which are famous about their durability and have a good reputation in making computers. Product and Business Portfolio : Product portfolio plays important role in companys business success especially when come to competition. Product portfolio is to capture and understand customers need according to the market. Apples portfolio is to transform their customers into specifications of the product they are offerings. There has been criticism on iPhone and iPod that these devices has been locked/restricted into iTones and creating iTone Store monopoly but Apple keep ensuring that anyone but their product will be completely locked/restricted to an Apples created world. This portfolio keep the other competitors out in some aspects but is also become hard to justify some measures when creating a circle around the customers and keep competitors out. Although the fact that iTunes database format has already been cracked and the third party tool have been updated, example application like cydia which unlock iPhone and enable customers to download various applications and allow them to use their iPhone for all the network providers. But Apple is spending more time trying to ensure that anyone who purchase their product must completely locked in to Apple-centred world in which they use iTones for products like iPod and iPhone, buy from iTones Music store, and purchese only Apple-certified accessories. The new version of iTunes break the fix and they keep updating the versions of iPhone and iPod to lock the customers and other updated and therefore no third party tool is able to unlock the version unless it is certified by Apple itself [Bill Thompson, 2007, BBC News, Article in Technology section]. Corporate Change and Social welfare of employee: Apple was one of the highest successful companies founded in 70s, Corporate philosophy of identifiable product and simple design which was introduced by Steve Jobs. Apple cares about their employees and provide them various facilities and benefits that includes, staff discount, paid holidays, maternity leaves, annual bonus and friendly and learning environment. Quality: Apples relies on best quality for their customers as of their product is design to provide the best output, high profile and highly priced due to their basic strategy of high profit margin on each product and keeping their market stable. They launch the best quality product and improvise it in later versions as required by their customers. They also manage to maintain their product quality with their corporate philosophy of identifiable product and simple design.

Limitation of GDP as a Measure of Economic Welfare

Limitation of GDP as a Measure of Economic Welfare Introduction There are various different indicators used by the economists to measure the development of the economy and GDP should be the one most commonly used in practice. It could reflect the quantitative changes of the economic development, but its qualities. The limitation of GDP in this area prevents it from measuring the economic welfare people get. This essay will discuss how GDP is calculated and the limitations of GDP in measuring the economic welfare. There will be also the introduction of the replacements of GDP which are developed to measure the economic welfare. The Concept of Gross Domestic Products (GDP) and Its Calculation GDP is the abbreviation of gross domestic product. It refers to the market value of all the final goods and services produced by one country or region with the production factors in one year or in certain period of time (Gutierrez et al., 2007). It was first developed by the economist Simon Kuznets in the 1930s and has been gradually used by the governments of various countries to measure the total value of the output of the economy after the Second World War. Since then, GDP has been the indicator for the measurement of development level of the economy. It is an important index of the general situation of the macroeconomics, which reflects the developments of the economy. GDP belongs to the field of the measuring of the aggregate economy. There are mainly three methods to calculate the value of GDP, namely, the production approach, the income approach and the expenditure approach. They reflect the results of the national economy from different views. The production approach calculates the economic results by summarizing the total output values of all the sectors of the economy and subtracting the value of all the intermediate goods. The approach only includes the value added in the production process, so it is also called the value added approach (Viet, 2009). The second method is the income approach. It focuses on the income generated in the production process. Various production factors are involved in the production process and they can get the income per their relevant contribution to the economic activities. The summary of all the incomes of the various production factors is the result of the economic activities. For example, labors and capitals are the main factors used in the production. So their incomes, the wages and the interest constitute the main part of the GDP calculated by theincome approach (Viet, 2012). The expenditure approach calculates the GDP from the view of the final usages of the products and services. The results of the final products and services usually include two main parts, the consumption and the investment. And consumption covers the need from the household sectors, the government and the foreign consumers. So in the expenditure approach, GDP includes the household consumption, the investment, the government spending and the net exports. In practice, the expenditure approach is most common method used by the government of countries in the world. (Viet, 2011) The Limitations of GDP The changes of GDP could reflect the trend of the economic development and most of the countries consider the increase of GDP as the targets of the economic growth. Although GDP has been used widely as the indicator to measure the development level of the world economy, there are inherent limitation and weaknesses in this method that prevents its wider use in the economic growth. And it particularly reduces the efficiency of GDP in evaluating the economic welfare. The main limitation of GDP is that it does not reflect all the contents of the economic activities, which weakens the role of GDP as the indicator of the economic welfare. GDP cannot reflect the overall situation of people’s welfare Generally speaking, the economic growth could bring the increase of people’s income, as well as their economic welfare. The per capita GDP is usually used to indicate the average level of people’s income in the countries. And it is also used to classify the counties of their economic development levels. But it cannot reflect the differences of the people’s welfare caused by the differences of income distribution. For example, for the man having no money at all, he could become a billionaire in terms of the per capita GDP when there is only he and Bill Gates in his country. But he is not likely to enjoy the same welfare as Bill. So GDP, or the per capita GDP masks the real situation of the welfare people really get (Bà ©renger and Verdier-Chouchane, 2007). Besides, there are plenty of things in people’s welfare, not just the economic one. The leisure and family pleasure are also very important part of the welfare. People would have little time to spend with families when they are busy in producing the final products and services. The increase of the GDP does not mean the increase of people’s overall welfare. The non-market economic activities Besides, what GDP does not cover is the non-market economic activities. Per the concept of GDP, it reflects the market values of the final products and services. For the products and services that are not exchanged on the market, their values are hard to evaluate. For example, the household works finished by the full-time housewives, like cooking, cleaning, and taking care of the olds and children, are not paid in by the family. So they are not included in the calculation of GDP. But if these works are done by the baby-sitters who hired and paid by the families, they will be covered by GDP, since they have the market values. In the developed countries, there is a high level of the marketization of the housework. The children will be sent to kindergartens, olds to the nursing home. People have more chance to eat outside instead of cooking home. All these works will be calculated in GDP. But in the developing countries, most of the housework is finished by the numbers of the family. An d their efforts are not recognized by the market and the GDP. The same household works will make different contributions to the calculation of GDP in different countries. But for people no matter in the developed countries or the developing ones, these works increase their welfare (Bridgman et al., 2012). In the calculation of GDP, the lack of these non-market economic activities reduces the ability of GDP to give a full reflection of the economic activities. So it could not tell the complete welfare people get from the economic activities. GDP does not reflect the quality of the economic development What people could get from GDP is just the number of the value added in the given time. It only reflects the number changes of the output of the economy or the quantitative growth of the economy. The quality of the output and the economy cannot be answered by this indicator. And the growth of GDP does not equal with the economic growth, since the economic growth also contains the improvement of the economic quality (Costanza et al., 2009). For example, the increase of GDP could not tell how the economy grows. There are usually three driven forces of the economy, the consumption, the investment and the exportation. If the increase of the GDP is caused by the consumption from the household sector, the quality of the economic growth could be considered as a good growth. But if it is mainly driven by the investment, especially the one in the real estate market or the infrastructures, the quality of the economic growth is worth to worry, since this kind of growth cannot sustain for a long time. The investment only increases the number of GDP, but not the welfare people could get. When using GDP as the main indicator to assess the economic growth, there would be some strange things in the development plans and practices of the governments. They would have the motivation to investment huge funds in the building of the infrastructures, like roads, railways and airports, since these projects would generate great increase of GDP. And they don’t have to consider whether these projects are needed or not, which could cause the waste of the social and economic resources. Besides, accidents would be welcomed by the governments, since they also can increase the GDP. When there are accidents, the new vehicles or properties will be needed to replace the ones damaged in the accidents, which means the increase of the final products and services. But people’s welfare does not see any increase in these activities (Costanza et al., 2009). What GDP provides is just the cold numbers about the amount changes of the economy. It cannot reflect the quality of the economic growth. The environment cost and pollution Except for the limitation in calculating the complete contents and quality of the economic growth, GDP also cannot reflect the hidden costs of the economic growth, particularly the environment cost of the economic activities. GDP only covers the costs that could be exchanged and valued in the market. These environment costs, like the environmental disruption and pollution, usually cannot be valued in the market and they are not calculated by GDP (Costanza et al., 2009). When developing the economy, it is needed to consume the natural resources from the environment. But the resources are limited. The excessive usage of the recourses in the current economic activities could bring the negative influence on the future development. And the economic growth is not sustainable in this model. But this cannot be reflected by GDP. Meanwhile, economic growth could cause the environmental disruption and pollution. These are also the costs of the economic growth. However, they are not included in GDP, since Mother Nature does not charge the price in humans’ economic activities. And the stupid humans will not calculate these costs until they pay for it. The Replacements of GDP The limitations of GDP mentioned above have been exposed in practice and there have been some other indicators developed to replace GDP. These replacements of GDP make up the limitation of GDP in evaluating the welfare people get in the economic activities and help people to have a better understanding of the welfare people get from the economy. In this process, there are main two directions for the measurement of the economic welfare. One direction is to measure the total level of the economic welfare. This method is easy to measure and the result could reflect the differences between different countries. The second direction is to get the per capita level of the economic welfare. These two directions could be seen as the same one, since it is easy to get the per capita results when people get the total level of the welfare. The GNI-Lorenz curve Since GDP cannot reflect the differences of the national income distribution, the Lorenz Curve is then developed to indicate the condition of the income distribution. It is developed in a coordinate system with the percentage of income and households as the axis. It reflects how the wealth of one country is distributed among the households. People could find the level of the inequality in the income distribution per the camber of the Lorenz Curve (Helene, 2010). The gross domestic income (GDI) The gross domestic income or GDI is another indicator used to reflect the condition of the economy. It calculates the income generated by the economic activities, which includes the compensation of employees, the gross operating surplus and the gross mixed income. This indicator could be seen as the version of GDP calculated in the income approach (Fixler, Greenaway-McGrevy and Grimm, 2011). Since people’s welfare is largely influenced by the income level, so the changes of GDI could reflect the situation of people’s welfare. The physical quality of life index (PQLI) The physical quality of life index is developed by David Morris in the mid-1970s. This index is consisted of three main indicators, the literacy rate, the infant morality rate and the indexed life expectancy. The average value of these three indicators is the level of the physical quality of life. This index is easy to measure and understand. But it does not reflect the complete contents of the welfare. And the excessive attention to the health indicators reduces its ability to give a full explanation of the welfare level (Bà ©renger and Verdier-Chouchane, 2007). Conclusion The gross domestic product can partly reflect the results of the economic activities. But it cannot reflect the economic welfare, the non-market economic activities, the quality of the economic growth, and the environment cost and pollution. These limitations prevent GDP from measuring the economic welfare people get from the economic activities. So that people have developed the new methods to replace GDP to measure the economic welfare. References Bà ©renger, V. and Verdier-Chouchane, A., 2007. Multidimensional Measures of Well-Being: Standard of Living and Quality of Life across Countries. World Development, 35(7), pp. 1259–276. Bridgman, B., Dugan, A., Lal, M., Osborne, M. and Villones, S., 2012. Accounting for Household Production in the National Accounts, 1965–2010. Survey of Current Business, May, pp.23-36 Costanza, R., Hart, M., Posner, S. and Talberth, J., 2009. Beyond GDP: The Need for New Measures of Progress. The Pardee Papers No. 4. Boston: Pardee Center for the Study of the Longer-Range Future. Fixler, D.J., Greenaway-McGrevy, R. and Grimm, B.T., 2011, Revisions to GDP, GDI, and Their Major Components. Survey of Current Business, July, pp.9-31. Gutierrez, C.M., Glassman, C.A., Landefeld, J.T. and Marcuss, R.D., 2007. Measuring the Economy: A Primer on GDP and the National Income and Product Accounts. Washington, D.C.:à £Ã¢â€š ¬Ã¢â€š ¬Bureau of Economic Analysis, U.S. Department of Commerce. Helene, O., 2010, Fitting Lorenz Curves. Economics Letters, 108, pp.153-55. Viet, V.Q., 2009. GDP by Production Approach: A General Introduction with Emphasis on an Integrated Economic Data Collection Framework. New York: United Nations Statistics Division. Viet, V.Q., 2011. GDP by Final Expenditure Approach an Operational Guide for Using Commodity Flow Approach. New York: United Nations Statistics Division. Viet, V.Q., 2012. Income Approach to GDP and Other Issues Relating to the Compilation of Household Income and Consumption Expenditures. International Workshop on Household Income, Consumption and Full Accounting of the Households Sector, 26-28 March, Beijing. China.

Rates of Reaction - Sodium Thiosulphate and Hydrochloric acid Essay

Rates of Reaction - Sodium Thiosulphate and Hydrochloric acid In this piece of coursework, I will study how concentration affects the rate of reaction. I will do so by timing the reaction of Sodium Thiosulphate with an acid. In this coursework, I will include background knowledge, prediction, safety, results, calculations, graphs, an analysis, conclusion and an evaluation. In my evaluation I will comment on how reliable my results were and how I could have improved my coursework in any possible way. The definition of rate of reaction is ‘The speed at which a chemical reaction takes place’. The factors that affect the rate of reaction are:  · Use of a catalyst  · Temperature  · Surface area  · Concentration I will be investigating Concentration in this experiment. In a higher concentration there are more Sodium Thiosulphate particles. This means there is a higher number of collisions which will have enough energy to react. This causes the rate to increase. The time it takes for a change to take place can be measured and can be estimated. For a reaction to take place 2 reactants must collide and the collision must have enough energy. Prediction I predict that as the concentration of the Sodium Thiosulphate increases the rate of reaction will increase. This can be proved by relating to the collision theory. I predict that as concentration is increased the amount of time taken for the reaction is halved. Safety Issues There are many safety issues that need to be considered while doing this experiment. These include:  · Wearing safety goggles at all times. If acids or any other chemicals are spilt, they would cause serious damage to the skin and eyes.  · Ties and long hair should be kept away from the experiment.  · If an accident ... ... my evidence of this experiment is reliable because I did it with precision and carried it out carefully. I thought that I might have some anomalies but there were not any. I can prove this by using my prediction earlier in the experiment. I said that â€Å"as concentration is increased the amount of time taken for the reaction is halved.† I would have been perfectly right but I made a mistake while measuring. To improve my results, I would use a wider range of concentration and different acid solutions. This would help me to find a pattern and come to a firm conclusion. Overall I think that this experiment was a success as I have proved that concentration does affect rate, and I have also found that when the concentration is doubled the rate of reaction is halved. To draw a firm conclusion I would need to get more results, less inaccuracies and better measuring methods.

Stephen Sondheim :: essays research papers

Stephen Sondheim - Biography Stephen Sondheim was born on 22 March 1930, the son of a wealthy New York dress manufacturer. But, when his parents divorced, his mother moved to Bucks County, Pennsylvania and young Stephen found himself in the right place at the right time. A neighbour of his mother's, Oscar Hammerstein II, was working on a new musical called Oklahoma! and it didn't take long for the adolescent boy to realise that he, too, was intrigued by musical theatre. Although he subsequently studied composition with Milton Babbitt, he chose to apply what he learned he all-or-nothing commercial hothouse of Broadway. Like Hammerstein, he has written the occasional pop song (with Jule Styne for Tony Bennett) and dabbled in films (Stavisky, Reds, Dick Tracy), but, like Hammerstein, he has always come back to the theatre. His initial success came as a somewhat reluctant lyricist to Leonard Bernstein on West Side Story (1957) and Jule Styne on Gypsy (1959). Exciting and adventurous as those shows were in their day, and for all their enduring popularity, Sondheim's philosophy since is encapsulated in one of his song titles: "I Never Do Anything Twice". His first score as composer-lyricist was A Funny Thing Happened On The Way To The Forum (1962) - a show so funny few people spotted how experimental it was: it's still the only successful musical farce. In the following three decades, critics detected a Sondheim style - a fondness for the harmonic language of Ravel and Debussy; a reliance on vamps and skewed harmonies to destabilise th e melody; a tendency to densely literate lyrics. But, all that said, it's the versatility that still impresses: you couldn't swap a song from the exuberantly explosive pit-band score of Anyone Can Whistle (1964) with one of the Orientally influenced musical scenes in Pacific Overtures (1976); you couldn't mistake the neurotic pop score of Company (1970) for the elegantly ever-waltzing A Little Night Music (1973). Sondheim hit his stride in the Seventies, forming a unique partnership of hyphenates with Hal Prince: a composer-lyricist and a producer-director working together to re-invent the musical. Some were plotless (Company), some characterless (Pacific Overtures), one went backwards (Merrily We Roll Along). But, as his onetime choreographer Michael Bennett put it, before you can break the rules, you have to know what they are - and Sondheim knows America's cultural heritage better then anybody. Follies (1971) is an

On the Maintenance of a Small Business Essay

Creative Cuisine Concepts is a small business run by Sharon F. Johnson, employing twenty five staff members, and serving fifteen hundred meals at one of the cafeterias of America Hondo Motor Co. The company was going through severe financial trouble with its mounting debt, inability to make payments to vendors, and mismanagement of financial accounts. Johnson’s business partner left the company, and so she had to cash out her 401(k) retirement savings to save her small business. She also had to borrow money from the small inheritance of her husband so as to maintain her business. Nevertheless, the small business remained in financial trouble. This was before Johnson was advised by her mentor at American Honda to seek help for the financial statements of her small business. Subsequently, the lady hired an accountant for her business and opted for an accounting software program in place of the paper-based system. She also began to take a training course, sponsored by the Los Angeles chapter of the National Assn. of Women Business Owners, to improve her business and leadership skills. Johnson’s failing company began to recover soon after. She expects her business to breakeven in the near future. With the results that she has achieved thus far, she has additionally planned to grow her business from $1. 5 million to $50 million in revenue (Zwahlen). Zwahlen’s article, â€Å"Recovering from Financial Turmoil† about Creative Cuisine Concepts, describes many of the challenges faced by small businesses that are mentioned in the textbook. When Johnson’s business partner left the company, she became a sole proprietor of Creative Cuisine Concepts facing personal financial liability for all business debts. Moreover, the textbook mentions that the owners of small businesses have to be rather creative so as to maintain their businesses in the face of trials, such as mismanagement and cash flow problem. Johnson had to be rather innovative to save her business from the turmoil that it faced. She had to borrow from her husband’s inheritance, and cash out her retirement savings plan. Also according to the textbook, this is the usual route taken by the owners of small businesses who must use up their personal funds to maintain their companies. As compared to public companies, it is difficult for privately owned businesses to raise funds. Lastly, the textbook mentions management problems at small businesses that do not have the funds to hire a large number of competent people. Johnson had to take a business and leadership course to enhance her skills. The course was sponsored by an association of business women, who are known to head a large number of small businesses in the United States, according to the textbook. In my opinion, Johnson should also approach the Small Business Administration (SBA) to help her business meet its new goal of raising $50 million in revenue. As a matter of fact, the owner of the small business should have approached the SBA at the time her business was going through severe financial trouble. SBA could have provided her with a guarantee for a small business loan from a bank or private lender. It could also have helped her obtain a microloan. Furthermore, there are Small Business Investment Companies that Johnson could have approached. Although her creativity to gather the much-needed funds, apart from her motivation to gain new skills and put a new financial system into place must be applauded – the assistance of SBA could have saved her from the worries that she faced.

Suicide Bombing

Taylor Maybeck Dr. Christopher English 110-12 3 February 2013 A Martyr or A Murder? Ever since the year 1983, the number of suicide bombing acts has risen significantly. Shockingly, most suicides are performed by people who are not â€Å"conformed to the typical profile of the suicidal personality†¦ none of them [are] uneducated, desperately poor, simple-minded, or depressed,† according to author David Brooks (352). Suicide bombers give their own lives as a way to show loyalty and to be seen as martyrs to their people.Many families urge their children to go through bomber training and recruitment, claiming that they will be happy if their children die while successfully killing â€Å"enemies. † Suicide should not be praised, urged, or seen as an act of martyrdom by families unless it is a disastrous and uncontrollable situation. In Palestinian areas, suicide bombing has become an act of choice, and is a highly spreading enterprise ( Brooks 352). In their society, s uicide bombers go through recruitment and training. Organizations praise their bombers and reward them by using several tactics.Bombers are trained spiritually and told about the rewards they can receive in their afterlife, as well as bribed by being told that their family will be guaranteed a place with god. Families of the bomber are satisfied with the idea that they will go to god, and this also serves as motivation to the bombers themselves. Faith is not a subject of bribery and should never be used in such ways. Everyone has the right to create his or her own beliefs, and by being intensely trained for hours, bomber trainees become brainwashed.This means that trainees no longer have the ability to make their own decisions on whether they need to perform the act of suicide. They see it as an obligation rather than an option. Aside from this, a television show has been created and is growing in its amount of viewers. Children start learning of the option of suicide at very young ages. In â€Å"The Culture of Martyrdom†, David Brooks states, â€Å" Last year the BBC shot a segment about so-called Paradise Camps- summer camps in which children as young as eight are trained in military drills and taught about suicide bombers† (353).Seeing suicide bombing on television, children get the idea that these bombers are comparable to superheroes, and that if they become bombers they too will be on television and popular in their community. Not only do bombers get praised by sacrificing their lives, but their families and friends also pressure them. The strangest aspect of suicide bombing is the fact that after the massacres, the bomber’s family is showcased in a televised interview. While the usual American family would react with sadness and hatred, Israeli and Western families react in a happy and joyful way.Many interviews state that parents agreed if the opportunity was given to them again, they would send another child off to afterlife witho ut hesitation (Brooks 353). Families urge their children to give their lives and do not view it as a disastrous event. Most children live to please their parents, and because of this, they do not make their own choices on becoming a bomber. Similar to how American families pressure their children by telling them their destiny is to attend college, these families tell their children their destiny is to be a suicide bomber and sacrifice their lives for others.The difference between these two situations is that education is life changing, and bombing is life ending. Parents should not urge their children to end their lives for any reason. If a person is mentally stable and healthy, they should live their life as long as they are able, without any pressure to act in suicidal ways. A martyr is a person who suffers a death because of standing up for what he or she believes in. Those who die and become known as martyrs are usually citizens who were placed in horrible situations.For example , the recent shooting in Newtown, Connecticut at the elementary school claims that teacher Victoria Soto is a martyr. This is because when a gunman attacked her classroom, she protected her students and gave her own life in order to save their lives. In no way did Soto choose to be placed in this situation, but when she was she gave her life to save others. Suicide bombers have no need to give their life by bombing enemies when the so -called â€Å"enemies† are not harming them. Bombers are told to walk into small food shops or buildings and wait for their bomb to go off.However, they are sacrificing their lives due to a situation that they have created for themselves. If there is no harm coming their way, there should be no reason to give their lives unless it is during a time of battle. Brooks states that in Israel areas, â€Å" Martyrdom [is] not just a means, but an end†(Brooks 352). Many suicide bombers give their lives, and may only successfully kill two â€Å"e nemies. † Sometimes they kill people who are not enemies; people who are normal citizens aiming to stay out of trouble are often harmed. That is not an act of martyrdom, but an act of murder.Suicide bombing has become such a phenomenon, and the people have become so addicted to rush of vengeance and murder that they are overlooking the true definition of a martyr ( Brooks, 353). Suicide bombers give their lives as an act of loyalty, and a way to show bravery and integrity. However, families and communities should not praise this act or urge others to sacrifice their lives. The loss of a life should not be seen as a celebration. A martyr is not something someone chooses to be; it is something that someone has no choice but to be.Children and young adults should not be raised or brainwashed into becoming suicide bombers. These bombers are healthy, stable people, giving their life to please corrupted people that surround them. It is extremely wrong for families to encourage membe rs to act in a suicidal way, and the community should put an end to the madness of suicide bombing. Works Cited Brooks,David. â€Å"The Culture of Martyrdom. † The Prentice Hall Reader: Tenth Edition. Boston:Pearson, 2012:350-354. Print Miller,George. The Prentice Hall Reader :Tenth Edition. Boston: Pearson,2012. Print

Tax and Gearing

W22Extra: Tax and Gearing: More Questions Multiple Choice 1) Which of the following statements is false? A) In general, the gain to investors from the tax deductibility of interest payments is referred to as the interest tax shield. B) The interest tax shield is the additional amount that a firm would have paid in taxes if it did not have leverage. C) Because Corporations pay taxes on their profits after interest payments are deducted, interest expenses reduce the amount of corporate tax firms must pay. D) As Modigliani and Miller made clear in their original work, capital structure matters in perfect capital markets.Thus, if capital structure does not matter, then it must stem from a market imperfection. As Modigliani and Miller made clear in their original work, capital structure does not matter in perfect capital markets. Thus, if capital structure matters, then it must stem from a market imperfection. ————————— Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ Rosewood Industries has EBIT of $450 million, interest expense of $175 million, and a corporate tax rate of 35%. 2) Rosewood's net income is closest to: A) $450 million B) $180 million C) $290 million D) $95 million Net income = (EBIT – Interest expense)(1 – ?C) = (450 – 175)(1 – . 35) = $178. 75 3) The total of Rosewood's net income and interest payments is closest to: A) $270 million B) $355 million C) $290 million D) $450 million Net income + Interest = (EBIT – Interest expense)(1 – ? C) = (450 – 175)(1 – . 35) = $178. 75 + $175 = $353. 73 4) If Rosewood had no interest expense, its net income would be closest to: A) $405 million B) $160 million C) $450 million D) $290 million Net income = (EBIT – Interest expense)(1 – ? C) = (450 – 0)(1 – . 35) = $292. 50 5) The amount of Rosewood's interest tax shield is closest to: A) $115 million B) $290 millionC) $175 million D) $60 million Interest tax shield = Interest expense(? C) = 175(. 35) = $61. 25 ——————————————————————————— Fly by Night Aviation (FBNA) expects to have net profit available for shareholders next year of ? 24 million and Free Cash Flow of ? 27 million. FBNA's marginal corporate tax rate is 40%. 6) Establish FBNA's EBIT A) ? 43 million B) ? 40 Million C) ? 45 million D) ? 60 million EBIT = NI + Taxes + Interest expense FCF = NI + Interest expense => 27 = 24 + interest expense = 3 (EBIT – Interest Expense)(1 – 0. ) = NI (EBIT – 3)(0. 6) = 24 (EBIT – 3) = 24/0. 6 = 40 EBIT = 40 + 3 = $43 7) IF FBNA increases leverage so that its interest expense rises by ? 1 million, then the amount its profit for shareholders will change is closest to: A) -? 400,000 B) -? 600,000 C) ? 400,000 D) ? 600,000 (EBIT – Interest Expense – chg IE)(1 – 0. 4) = NI + chg NI (- chg IE)(0. 6) = chg NI -1m (. 6) = -600,000 Or, -$1m (1 – . 4) = -$600,000 8) IF FBNA increases leverage so that its interest expense rises by ? 1 million, then the amount its Free Cash flow will change is closest to: A) -? 600,000 B) -? 400,000C) ? 600,000 D) ? 400,000 FCF = NI + Interest expense chg FCF = chg NI + chg Interest expense = – 600,000 + 1m = +400,000 Or, $1m (0. 4) = $400,000 ————————————————————————— LCMS Industries has ? 70 million in debt outstanding. The firm will pay only interest on this debt (the debt is perpetual). LCMS' marginal tax rate is 35% and the firm pays a rate of 8% inte rest on its debt. 9) LCMS' annual interest tax shield is closest to: A) ? 2. 8 million B) ? 2. 0 million C) ? 3. 6 million D) ? 5. 6 million Annual Tax shield= annual debt interest ? C = ? 70M ? 0. 08 ? .35 = 1. 96M 10) Assuming that the risk is the same as the loan, the present value of LCMS' interest tax shield is closest to: A) ? 45. 5 million B) ? 20. 0 million C) ? 24. 5 million D) ? 35. 0 million PV of Tax shield = debt ? ?C = ? 70M ? .35 = 24. 5M 11) Assuming that the risk of the tax shield is only 6% even though the loan pays 8%, then the present value of LCMS' interest tax shield is closest to: A) ? 24. 5 million B) ? 18 million C) ? 33. 0 million D) ? $20. 0 million PV of Tax shield = debt ? ?C ? rD / rD2 = $70M ? .35 ? .08/. 06 = 32. 67

Macroeconomics Essay

If an economy produces final output worth $5 trillion, then the amount of gross income generated by that production: is $5 trillion 2. Which of the following would not be Ian expenditure on a final good or service? a medical clinic’s purchase of flu vaccine 3. Which of the following would be included in GDP? payment of the monthly telephone bill by Mr. Laconic 4. Consumption in the expenditures approach to calculating GDP includes: purchases of medical services at the local clinic 5. Which of the following is not considered a component of investment when alculating GDP? purchases of corporate stock 6. Which of the following is not included in GDP? interest payments on the national debt 7. Which of the following would not increase U. S. GDP? increased shipments of Ghanian cocoa to the United States on Greek vessels 8. A farmer grows wheat and sells it to a bakery for $5. The bakery bakes the wheat into bread, which it sells to a distributor for $20. The distributor sells the bread to a supermarket for $30, which sells the bread to customers for $50. Which of the following is true? The supermarket contributed more, in value added, than the bakery. 9. The simple circular flow model shows that: households are on the supply side of the resource market and the demand side of the product market 10. Suppose that the economy is in equilibrium with a trade deficit and that saving is greater than investment. According to the circular flow model, the government’s budget: must be in deficit 1 1 . Which of the following statements is true regarding leakages and injections? Since leakages equal injections, aggregate income equals aggregate expenditure. 2. Which of the following is an injection into the circular flow? transfer payments 13. Which of the following would not be included in the measurement of GDP? transactions in the underground economy 14. GDP is a poor measure of social well-being because: the value of leisure time is not counted in GDP 15. Given the following hypothetical data: C = $3,000; I = $1,200; G = $2,000; X- M $500; depreciation = $200; transfer payments = $800, net domestic product is: $5,500 16. Limitations of the national income accounting system include: valuing all output t its market price regardless of whether it contributes to a society’s economic welfare 17. The price index in the base year always equals: 100 18. Exhibit 01 Product Bread Gum Quantity in market basket 10 5 50 Price in base year $1. 00 1. 00 0. 20 current year $1. 50 2. 00 0. 50 Use the information in [Exhibit 01] to calculate the consumer price index in the current year. CPI = 200 19. If real GDP in a particular year is $5,000 trillion and nominal GDP in that same year is $4,000 trillion, then the: GDP price index is 80 20. A major difference between the CPI and the GDP price index is that the CPI includes: a sample of goods consumed, including imported goods, and the price index includes all domestically produced goods 21 . In double-entry book keeping system of GDP: the value of output produced must equal the value of resource payments generated in producing that output 22. Gross Domestic Product measures the: market value of all final goods and services produced by resources located within a nation regardless of who owns those resources 23. The value of the films produced in the United States starring Charlie

Organic food †Agriculture Essay

What is Organic Food? Organic farming is a relatively new concept to us, though we are practicing it for thousands of years without noticing. Organic farming is nothing but cultivating foods and other agricultural products using methods that do not involve modern synthetic inputs such as synthetic pesticides and chemical fertilizers, do not contain genetically modified organisms, and are not processed using irradiation. Organic food is produced with: †¢No synthetic pesticides, herbicides or fumigants †¢No fertilizers made with synthetic ingredients or sewage sludge †¢No genetically modified organisms (GMOs). †¢No irradiation †¢No hormones, antibiotics, artificial ingredients or trans fats In simple words organic farming is way and means to cultivate naturally, in other word primitively in a sense. The primary goal of organic agriculture is to optimize the health and productivity of interdependent communities of soil life, plants, animals and people. A Brief History of Organic Food: Until the early part of the 20th Century pretty much all the food grown across the world was organic. It wasn’t called organic food – it was just food. Nobody had thought of putting chemicals into soil and sprays to enhance crop growth and yield. And genetic engineering took place over generations as farmers selectively bred to improve their stock or their seeds. Organic food farming continued in small, mostly family-run, farms or kitchen gardens where people grew food for their own requirements. The produce was sold in farmer’s markets. Large scale organic farming was begun by farmers and scientists, as a mark of protest to the agricultural industrialization. With the rise of the petro-chemical industries in the early 1900s, agricultural research became focused very much on the chemicals that are needed for plant and animal growth. That these chemicals come from finite resources, most often as by-products of oil refining, was rarely thought of. That they could cause other problems was seldom recognized until the problems became too big to ignore. In the 1930s there was a reaction against the use of chemical additives in people’s food. It was led, in part, by Rudolf Steiner who also designed an educational system based on his holistic and sustainable outlook. These early organic farmers and foodies laid the foundations for today’s interest in sustainable lifestyles. Now, organic food is widely available and has become very popular, with soaring sales. Principles of Organic Agriculture: These Principles are the roots from which organic agriculture grows and develops. They express the contribution that organic agriculture can make to the world, and a vision to improve all agriculture in a global context. The Principles of Organic Agriculture serve to inspire the organic movement in its full diversity and guide our development of positions, programs and standards. Principle of Health. Organic Agriculture should sustain and enhance the health of soil, plant, animal, human and planet as one and indivisible. This principle points out that the health of individuals and communities cannot be separated from the health of ecosystems – healthy soils produce healthy crops that foster the health of animals and people. Health is the wholeness and integrity of living systems. It is not simply the absence of illness, but the maintenance of physical, mental, social and ecological well-being. Immunity, resilience and regeneration are key characteristics of health. The role of organic agriculture, whether in farming, processing, distribution, or consumption, is to sustain and enhance the health of ecosystems and organisms from the smallest in the soil to human beings. In particular, organic agriculture is intended to produce high quality, nutritious food that contributes to preventive health care and well-being. In view of this it should avoid the use of fertilizers, pesticides, animal drugs and food additives that may have adverse health effects. Principle of Ecology Organic Agriculture should be based on living ecological systems and cycles, work with them, emulate them and help sustain them. This principle roots organic agriculture within living ecological systems. It states that production is to be based on ecological processes, and recycling. Nourishment and well-being are achieved through the ecology of the specific production environment. For example, in the case of crops this is the living soil; for animals it is the farm ecosystem; for fish and marine organisms, the aquatic environment. Organic farming, pastoral and wild harvest systems should fit the cycles and ecological balances in nature. These cycles are universal but their operation is site-specific. Organic management must be adapted to local conditions, ecology, culture and scale. Inputs should be reduced by reuse, recycling and efficient management of materials and energy in order to maintain and improve environmental quality and conserve resources. Organic agriculture should attain ecological balance through the design of farming systems, establishment of habitats and maintenance of genetic and agricultural diversity. Those who produce, process, trade, or consume organic products should protect and benefit the common environment including landscapes, climate, habitats, biodiversity, air and water. Principle of Fairness Organic Agriculture should build on relationships that ensure fairness with regard to the common environment and life opportunities Fairness is characterized by equity, respect, justice and stewardship of the shared world, both among people and in their relations to other living beings. This principle emphasizes that those involved in organic agriculture should conduct human relationships in a manner that ensures fairness at all levels and to all parties – farmers, workers, processors, distributors, traders and consumers. Organic agriculture should provide everyone involved with a good quality of life, and contribute to food sovereignty and reduction of poverty. It aims to produce a sufficient supply of good quality food and other products. This principle insists that animals should be provided with the conditions and opportunities of life that accord with their physiology, natural behavior and well-being. Natural and environmental resources that are used for production and consumption should be managed in a way that is socially and ecologically just and should be held in trust for future generations. Fairness requires systems of production, distribution and trade that are open and equitable and account for real environmental and social costs. Principle of Care Organic Agriculture should be managed in a precautionary and responsible manner to protect the health and well-being of current and future generations and the environment. Organic agriculture is a living and dynamic system that responds to internal and external demands and conditions. Practitioners of organic agriculture can enhance efficiency and increase productivity, but this should not be at the risk of jeopardizing health and well-being. Consequently, new technologies need to be assessed and existing methods reviewed. Given the incomplete understanding of ecosystems and agriculture, care must be taken. This principle states that precaution and responsibility are the key concerns in management, development and technology choices in organic agriculture. Science is necessary to ensure that organic agriculture is healthy, safe and ecologically sound. However, scientific knowledge alone is not sufficient. Practical experience, accumulated wisdom and traditional and indigenous knowledge offer valid solutions, tested by time. Organic agriculture should prevent significant risks by adopting appropriate technologies and rejecting unpredictable ones, such as genetic engineering. Decisions should reflect the values and needs of all who might be affected, through transparent and participatory processes. How can we be sure that our Food is Organic? The early followers of organics were often dismissed as anti-scientific cranks. Nowadays, organic production is one of the fastest growing sectors of agriculture, and there are millions of dollars being spent to research more sustainable farming methods. But, unfortunately, organics still account for a minority of the foods grown. Most nations have a government regulated system that certifies that those people who claim to be selling organic produce are actually doing so. It will vary from country to country, but most systems will be affiliated with the international umbrella organization IFOAM. We can check with IFOAM to make sure that the organic accreditation is actually recognized. Types of Organic Food: Organic products grown in healthier soil contain higher amounts of nutrients, and many taste better than their conventional counterparts. Hence, the popularity of such produce is picking up volumes in recent years. There is no better choice for one’s consumption than organic produce. The major types of organic foods are: Organic Vegetables and Fruits Organic vegetables and fruits are the most common type of organic food that is available in the market. They come in a wide variety and they are usually in good quality. Any certified organic plant product must come from fields that have remained free of chemical application of fertilizers and pesticides for at least three years, and must follow regulations set by Agri-Food and Veterinary Authority of Singapore. Organic Meat Organic meat is perfect for meat lovers as in is healthy and not contain any chemicals in the meat as the animals are fed with natural food that does not contain chemicals. Organic provisions require animals to be raised without receiving antibiotics, hormones, or growth stimulants. Humane treatment and access to the out-of-doors are stipulated, and the animals must be fed 100% certified organic feed and must graze in certified organic pastures. Organic Dairy Products Organic dairy products are extremely popular in recent years as they are safe and healthy to consume. Milk from all dairy animals, including cows, goats, and sheep, may be certified organic. Certified organic products cover nearly the full dairy spectrum, including milk, cheese, yogurt, butter, cottage cheese, sour cream, ice cream, and more. Organic Fish Organic fish are fishes that are rare in fish farms such as salmon, trout, cod, halibut and sea bass. Fishes that are caught in the open see cannot be labeled as organic due to the fact that it is uncertain of what the fishes eat. Advantages of Organic Foods: The debate about the advantages of organic foods is over. According to a new $25-million study into organic food – the largest of its kind to date – organic food is more nutritious than ordinary produce and it may help to lengthen peoples lives and prevent disease. More Nutrients The European Union funded study found that organic fruit and vegetables have up to 50% more antioxidants, which scientists believe can cut the risk of cancer and heart disease. They have also more vitamins and minerals such as iron and zinc. According to other recent studies, organic foods are better for fighting cancer. And people eating organic food have improved immune system, better sleeping habits and are less likely to be overweight than when eating â€Å"conventional† foods. (Can you imagine the benefits of eating both raw and organic food? ) Better Taste The taste of organic fruits and vegetables is often superior to any conventional produce. That’s why many top restaurants use organic produce in their menu. Today, most fruits and veggies are manipulated to look and stay good. The strawberries from your ordinary supermarket may look great on your cake but they have virtually no taste. However, the taste of fresh organic fruits is irresistible! Safer for Babies and Children The advantages of organic foods might be highest for babies. The average baby is born with 200 toxins and carcinogens in its body. By the time kids reach their 2nd year, most have pasted the lethal limit for the toxins. By feeding your child organic food, it will have about 1/6th the amount of carcinogens in its blood. Thus you will decrease the chances of illnesses significantly. Therefore, especially for infants and children a raw organic food diet is incredibly important. Irradiation? Do we ever wonder why organic vegetables and fruits seem to spoil so much faster than produce from normal supermarkets? The reason is that many foods are irradiated. Irradiation kills bacteria and extends food life. But, it also alters the molecular structure and life force of the food. Some irradiation methods use radioactive substances, others high energy electrons or X-rays. I don’t know about you, but I prefer my food pure and not irradiated. So one of the advantages of raw organic foods is that it still has life force. Raw organic seeds grow – cooked and irradiated seeds don’t GMO Secrets Organic food stores don’t sell genetically modified (GM) food. It’s suspected that GM food causes allergies and decreases your immune system. Government is being secret – at least vague – about the health consequences of GMO food. I’ve read enough to not want to take a chance. Do you? Shocking Animals Organic meat, fish and poultry is healthier for you. Organic farmed animals are raised without dangerous chemicals, growth hormones or antibiotics. Pesticides used in ordinary farming don’t just affect the animal who eats it first. They accumulate in their tissues (mostly fat). Animals on top of the food chain get the highest concentration of these chemicals. Conventional animals full of toxins and dirt. A cow, chicken or pig will retain most of the pesticides it has ever eaten (directly or indirectly through other animals). Factory farm animals are fed great quantities of (polluted) fish, food doused in pesticides and fed many unnatural compounds never eaten by wild animals. Inorganic animal food (meat, fish, dairy and eggs) is a main source of pollution to the environment. According to research animal food contribute to as much as 95% of the toxic chemical residues in the American diet. Meat, fish and poultry have 10 times the amount of the dangerous chemicals DDT, DDE and TDE as conventional produce. In addition intensive farming is incredibly cruel to farm animals. One of the most outrageous advantages of organic foods is that organic farms treat their animals much more humane. They place a great emphasis on animal welfare. Just for this reasons, switching to an organic living makes sense. And even consider becoming vegan. Save the Environment Organic food facts are especially striking if you consider the environment. Conventional farming methods erode soil and use dangerous pesticides that may take centuries before they’re gone. Think of the DDT, thought to be harmless but appeared to be extremely bad for your health. Even though this pesticide has been forbidden for many years now, it’s still found in virtually all waters, human beings and animals in the world†¦ In addition, over time, artificial pest controls become less and less effective, so that even more chemicals must be used or other methods found. One of the huge advantages of organic food is that buying it has a huge positive impact on the environment, the animals and people who live on it. Organic vs. Non-organic: A new study looking at the potential health benefits of organic versus non-organic food found that fruit flies fed an organic diet recorded better health outcomes than flies fed a nonorganic diet. The study from the lab of Southern Methodist University biologist Johannes H. Bauer, Southern Methodist University, Dallas, found that fruit flies raised on diets of organic foods performed better on several tests for general health. Flies on organic food performed better on some health tests â€Å"The data demonstrated that flies raised on organic food extracts by-and-large performed better on the majority of health tests,† reported the researchers. It remains unclear why organic diets delivered better health, the researchers said. The Bauer lab results come at a time when the health effects of organic food are widely debated. Prior studies by other researchers have found conflicting results when reviewing the scientific literature for data. While several studies have shown elevated nutrient content and lower pesticide contamination levels in organic food, a recent publication reporting a large-scale analysis of all available studies concluded no clear trend was apparent. Organic farming only uses naturally occurring chemicals or traditional remedies to control pests and diseases. According to public perception, organic food is the healthy option. Sales of organic produce have rocketed over the past few years with the organics industry sending out messages of safer, healthier food created by farming practices which are better for the environment. But is it really as good as we think? Critics argue that organic farming leads to the risk of contamination with potentially dangerous bacteria and mould toxins, and increased levels of ‘natural pesticide’ found in organic produce could even be as dangerous as synthetic chemicals. So who do we believe? Are organic fruit and vegetables as harmless as they appear? And why do they cost so much? In this piece, common views about this subject are discussed. Is organic food the healthier option? Is it as safe as the public think? Many in the public perceive organic food as the healthy option. However, organo-sceptics argue that organic food may not be as safe as we think. †¢The public’s viewpoint is based on the fact that no synthetic pesticides or fertilizers are used in organic agriculture leading to the assumption that no pesticide residues are present on the products. Without the use of pesticides, organic crops develop a natural defense mechanism in the form of chemicals all called phenols. The organic supporters claim that these chemicals are antioxidants and that organic fruit and vegetables are better at protecting the body from cancers and heart disease. Organic-sceptics argue that these natural pesticides may be a potential health risk and insist that there is no evidence to show health gains from organic food. The lack of evidence, however, may be due to the difficulty in conducting such a study. †¢The use of manure as a fertilizer in organic farming leads to fears of contamination of produce with bacteria such as E.coli which could lead to food poisoning. However, it has been shown that by composting the manure for a precise time at an exact temperature, the amount of bacteria present is greatly reduced. As long as these conditions are adhered to, the risk of food poisoning is kept to a minimum. †¢Another significant concern regarding organic farming is the contamination of produce with toxic substances produced by moulds called mycotoxins. There is a greater chance of crops being vulnerable to moulds if they are damaged by insects or weather. The organic lobby argues that although less effective fungicides are used in their farming methods, organic produce is less prone to fungal attack as crops are not fed with chemicals known as nitrates which may make plant cells in conventional crops more vulnerable to fungal growth. Are the levels of pesticides used in conventional farming enough to damage health? The quantities of pesticides used in agriculture are declining as the industry is developing more efficient methods of delivery and pesticides which have the ability to target specific pests more accurately. Pesticides have played an important role in improving crop yields but are often hazardous materials. Care must be taken when using such materials to ensure that they are applied as advised to minimize risks associated with misuse. Before a pesticide can be used commercially its safety must first be proved. The law requires that only pesticides approved by Government regulators shall be sold, supplied, used, stored or advertised. This ensures that the levels and toxicity of all pesticides used in agriculture are at a safe level. Is organic farming a viable option in the developing world? It is argued that without pesticides and genetically modified crops, farming is not economically viable in the developing world. Non-organic farming allows you to farm land that would otherwise not be farmable. Yields are high and costs are low. However, there is a worry that intensive farming in these countries will destroy the fertility of the land and in the long run organic farming will secure the future for sustainable farming. Why is the price of organic produce so high? Crop rotations, higher animal welfare standards and restricted use of chemicals, leading to lower yields, all mean that organic food costs more to produce. Subsidies from the government are paid mainly to farmers with non-organic farms allowing them to keep their prices low. The pro-organic lobby argues that when buying non-organic food you are in fact paying threefold; once at the counter, second via taxation and third to remedy the environmental pollution. As the sector develops and technologies are improved, the cost of organic food should decrease as yields increase and production costs decrease. Organic Food market: From economic point of view, organic market is growing very fast worldwide. A simple statistics can tell a lot. According to Data monitor’s â€Å"Organic Food: Global Industry Guide†, the global organic food market grew nearly 10% in 2009 to reach a value of $60 billion and market is forecasted to have a value of $96. 5 billion in 2014. Organic agriculture offers enormous trade opportunities for farmers in the developing and least developed countries. This organic market expansion makes it possible for farmers to reap the benefits of a trade with relatively high price premiums. Food producer have also found fast growing markets for natural and organic products. One example is Earthbound Farm, a company that grows and sells organic product. It started in 1984 as a 2. 5-acre raspberry farm in California’s Carmel Valley. Founders Drew and Mera Goodman wanted to do the right thing by farming the land organically and producing food they’d feel good about serving to their family, friends, and neighbors. Today Earthbound Farm has become the world largest producer of organic vegetables, with 40000 acres under plug, annual sells of $480 million, and products available in 75% of America supermarkets. Organic farming, on the other hand, promotes the health of both consumers and the environment contrast to modern farming. The main problem with modern agriculture, however, is that the synthetic chemicals never disappear. When we eat a mango grown using synthetic pesticides, traces of the pesticides remain in the mango, and the chemicals end up in our fat cells. Similarly, cotton grown using synthetic chemicals retains traces of the chemicals after it is woven into a fabric. Chemicals, used for cultivation are then absorbed into the plant, air, soil, water, and eventually, our bodies. Started after mid 1950’s reaction against modern toxic farming methods, organic farming excludes the use of synthetic pesticides, herbicides, fertilizers, and genetic engineering. Organic farmers respect their land: they feed and build the soil with natural fertilizers; they protect crops against insects using natural insect predators, barriers, or traps; and they control weed growth with crop rotation, hand weeding, cover crops, and mulches. In the past decade, the organic agriculture market has grown exponentially because more consumers are learning that organic farming is better for them and their environment. How can we market Organic Products? The marketing model used in conventional agriculture is not easily applied to organic systems. Currently, local elevators that accept organic grains are not common, though they do exist in some areas. Farmers that transition to organic production must also transition their marketing strategies. Whether growing organic grains, herbs, fruits and vegetables, or raising organically certified livestock, marketing becomes an additional consideration. Producers who have always sold to local elevators will find that quality time will be needed to do a good job with marketing organic products. Organic Foods Strategic Marketing and Communications The â€Å"Go Green† trend is quickly gaining momentum. Law makers are actively working to pass legislation that promotes the development of green energy sources, manufacturers are researching technologies that can be used to produce new biodegradable products, and USDA certified organic foods are increasingly finding their way into every home. More than other green initiatives, the demand for organic foods has soared in recent years. With the implementation of new federal requirements for labeling of natural and organic foods, and the growing research that suggests links between foods produced using antibiotics, hormones, pesticides, irradiation or bioengineering and illnesses such as cancer, Parkinson’s disease and Alzheimer’s disease, consumers are gaining confidence in the quality and benefits of organic foods and increasingly rejecting their conventionally produced counterparts. As young people grow up consuming organic foods and learn to accept them as healthier and more eco-friendly, the organic foods industry will continue to gain market share. Many organic farmers link in to existing networks of organic wholesalers, exporters and processors. Others use the opportunity provided by their change to organic, to take on a completely different approach such as direct marketing to consumers. This fact sheet discusses some of the options for marketing of organic produce and poses some questions to be considered as we develop our marketing strategy. A small but rapidly growing market The market for organic food and fiber has been growing around the world for some years now. It is however still very small, making up only about one per cent of the world total market value. One of the risks associated with supplying product into a small market, is that of oversupply of certain products, leading to depressed prices. To help avoid this situation, some market research is vital early in the process of considering organic conversion and certification, as highlighted below. Some organic farmers manage the risk of oversupply in organic markets by selling into conventional markets when necessary. This means sacrificing any organic price premium, but can help to stabilize prices in the organic market – a benefit in the longer term. Organic price premiums. Many organic products receive a price premium, justified by higher costs of production under organic management. Such premiums are not guaranteed and can be influenced by the supply and demand situation and product quality. Whether or not your produce is likely to attract a premium price, and whether or not a premium is necessary for economic viability, should be considered during your market research and development of a marketing strategy. Consider marketing options early One of the first steps in the process towards organic certification is to identify marketing options. We should ideally have our markets organized before you begin certification, especially if you think you will need to receive a price premium to cover extra costs arising from organic management. The change to organic marketing may be easy if you already sell direct to end-consumers or retailers who might welcome the access to organic produce, or to wholesalers and exporters who have links to organic markets. If your wholesalers/exporters currently have no links with the organic industry, are they interested in pursuing organic certification to diversify their business? If not, some research may be required to identify suitable alternative marketing options. Develop a marketing strategy When you are planning your change to organic farming and are looking at marketing options, take the time to consider what your marketing objectives are and how you might achieve them. Pulling this and other relevant information together into a marketing strategy will help us to focus your efforts in the most productive areas. Some key points to consider are: †¢Be closely involved in selling your produce or leave it to a ‘professional’ marketer? †¢Maintain a diversity of markets to spread the risk in case the usual supply chain fails for you? †¢Have direct contact with end consumers? †¢Use customer feedback to guide farm production (e. g. crop varieties and seasonal availability)? †¢Increase financial security by improving returns? †¢ Consider different marketing options Following are options that organic farmers commonly use to market their produce, along with some of their pros and cons from a farmer’s perspective. Often a range of different options will be used to balance the risk, the workload and the prices obtained. 1. Direct to consumers 2. Direct to retailers 3. Direct to Wholesaler 4. Use mass media Look for opportunities to tell a story that gets media attention as this exposes potential new customers to our organic business and products. One area of opportunity is to piggy-back onto relevant local, state, national and global events. For example, contact local media with an interesting story about: †¢National Organic Week (e. g. highlight local organic production and produce availability) †¢Earth Day and World Environment Day (e. g. how organic farming reduces environmental impacts). †¢Organic Day (e. g.promote citizen buying organic produce within the country as an example) †¢National Tree Day (e. g. plant a treed spray buffer) †¢World wetlands day (e. g. how your farm protects its wetland) Organic Food in Bangladesh: Organic certification is the parallel tool needs to develop getting the market opportunity worldwide. Those who intend to label and market their foods as organic will usually seek certification – almost certainly if they grow for the export market. However, many farmers practice organic techniques without seeking or receiving the premium price given to organic food in some markets. This includes many traditional farming systems found in developing countries. Agriculture that meets organic production standards, but that is not subject to organic inspection, certification and labeling, is referred to as ‘organic by default’. While economic and institutional conditions differ, both certified organic agriculture and organic agriculture ‘by default’ rely on the same technology and principles. Although the results might be similar, organic agriculture ‘by default’ may not always represent a deliberate choice between alternative productions. Organic certification focuses on this part. We may have a huge farm producing by default organic product. Organic certification will just convert it certified and added a huge value. Organic certification scheme varies from country to country regulators. The two sources of general principles and requirements governing organic production and trade are: Firstly, the ‘Basic Principles’ of the International Federation of Organic Agriculture Movements (IFOAM), a private sector international body, with some 750 member organizations in over 100 countries. IFOAM defines and regularly reviews, in consultation with its members, the Basic Standards that shape the organic term. According to IFOAM basic standards ‘organic agriculture is a whole system approach based upon a set of processes resulting in a sustainable ecosystem, safe food, good nutrition, animal welfare and social justice. Organic production therefore is more than a system of production that includes or excludes certain inputs. ’ But in order to access the major organic markets in Europe and United States, one has to comply with specific regulations that are instituted in these countries. These are Regulation 834/07 in the case of Europe and the National Organic Programmed (NOP) in the case of United States. Certification Bodies operating following above stated standards, need to take accreditation from an accreditation body under ISO/IEC Guide 65 for demonstration their competence. Bangladesh Accreditation Board (BAB) is ready to play its role in this regards. We expect our entrepreneurs to come forward with initiative for launching organic farming and organic certification body. BAB will provide all necessary support as national Accreditation Body.