hnd_经济学outcome
HND大二经济学导论报告参考Outcome三
An Evaluation of UK Government Policy on Mentalhealth and behavior in schoolsTable of Contents1 Introduction (1)2 Market failure (2)2.1 Merit goods (2)2.2 Public goods (2)2.3 Impertfect competition (2)2.4 Externalities (2)3 UK Governments policy (1)3.1 Introduction to the policy (2)3.2 instruments used (2)3.3 Justification of the performance of policy (2)4 Conclusion (2)References (5)Appendices (6)Appendix I: (6)Appendix II: (6)1IntroductionThis report aims to explain the‘market failure’and the role of government in relative to merit goods, public goods, imperfect composition and externalities.The policy about mental health and behavior in school will also be introduced.Then it will describe the instruments used to achieve the policy and evaluate the policy.2Market failureMarket fail, that is, they do not provide all of the goods and services needed by the government,nor by society(SQA,2013a p184).2.1Merit goodsThe government provides services that might not be provided by the private sector in sufficient quantities or of a sufficient quantity (SQA,2013a p188).For instance,medical services,education and so on.In China,the government provides the public universities and nine year education,which support children to go to school and get a better education.2.2Public goodsThese are commodities, which would not be provided by the private sector because they would find that many people, even if they benefited from them, would refuse to pay(SQA,2013b p190), for example, grills in the park and Automatic Pet Water Fountain and so on.In many countries, the government provides the Automatic Pet Water Fountain, which is convenient for passerby to drink water whenever they want.2.3Imperfect competitionA company which control their own market , and they have no rival. A monoplist can adjust prices output in the market.for example, on February 5, 1991, pierpont Morgan bought Andrew Carnegie, Rockefeller,several iron ore and all the steel business,became the largest steel company , 65% of steel production by their control.The government could establish perfect competition through the establishment of enterprise competition policy (Peter,2013)2.4ExternalitiesAn externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken into account (SQA,2013d p188).For example, the negative externalities include car exhaust, smoking, kara OK noisy,which will do harm to the environment and people’health.As far as I am concerned, the government should have odd-and-even license plate rule and provide new energy electric vehicle.The positive externalities include new technology like purify the water and restoration of historical buildings.I think the government should support the enterprise to create more new technology.3UK Governments policy3.1 Introduction to the policy--Mental health and behavior in schoolsThe purpose of this policy is to let all pupils benefit from learning and developing in a well ordered school environment that fosters and rewards good behaviour and sanctions poor and disruptive behaviour. Their behaviour and discipline in schools advice sets out the powers and duties for school staff and approaches they can adopt to manage behaviour in their schools. It also says that schools should consider whether continuing disruptive behaviour might be a result of unmet educational or other needs. Published on16 June 2014，last updated on18 March 2016(Gov,UK,16 June 2014)3.2 Instruments usedInstruments- economic variables that governments can control directly for example, tax, public spending(SQA,2013e p194).The government take actions via government spending and relevant regulation.They found the Child and Adolescent Mental Health Services to deal with it.The specific services offered by CAMHS vary depending on the needs of the local area. The best way to influence those services overall is to get involved with the local health and wellbeing board.The government take actions to help them in referring pupils effectively to specialist CAMHS and otherwise working well with the service for the benefit of their vulnerable pupils. These include:1.The government hire some people documenting evidence of the symptoms or behaviour that are causing concern,encouraging the pupil and their parents/carers to speak to their GP2.The government spent some money working with local specialist CAMHS to make the referral process as quick and efficient as possible(Spence, S.H. 2003)3.1Justification of the performance of the policyI think the policy is successful, the mental health care benefits can make children to have a happier life.Thanks to the policy, children now have the ability to develop psychologically, emotionally, intellectually and spiritually.However,I think the policy also has some disadvantages.It has greatly increased government pressure.For example,Set up the CAMHS organization to support the school and some public organization。
HnD经济学导论outcome1报告
International CollegeCentral South University of Forestry and TechnologyASSIGNMENT COVER SHEETAssessment Task: _____________________________________________________________ Course Name:__________________________________ Outcome: ____________________ Prepared by:______________________________________________________ (English name) ________________________________ (Chinese name) ___________________ (Candidate Number) Class: ____________________ Name of Tutor:___________________________ Due Date: _______________ Date Submitted: ___________________Your report/essay should meet the following requirements. Please confirm this before submitting your assignment.☐Assignment is presented on A4 size paper and is tidily typed and well presented..☐Pages have been firmly stapled.☐ A copy has been retained by me.☐Declaration below is completed.DeclarationAll forms of plagiarism, cheating and unauthorized collusion are regarded seriously by the University and could result in penalties including failure in the unit and possible exclusion from the University. If you are in doubt, please contact the Unit Coordinator.Expect where I have indicated, the work I am submitting in this assignment is my own work._______________________________________ (Signature)Question1：With reference to the case study, summaries the relationship between goals, objectives and policy and advice the management of Scotia Airways of the contribution each will make to effective managerial performance.Answer1：Goal:Organizational goal is to complete the mission and purpose of the carrier organization. It is a future state that an organization strive to achieve, and it is the basis and motivation to carry out the organization's activities. Every social organization has its own intended purpose or result, it represents an organization's direction and future. For the organization, the purpose is the common goal; to the members, the common goal is to organize the stage needs to reach the destination. The organisations are usually determine the direction that it will take over the long term and are not always very specific, but some goals may be unintelligible and hard to understand.There are 4 types of organization: Operational goals, Product goals, Consumer goals, and Secondary goals.Operational goals that means increase efficiency, promote the work efficiency vigorously. Like the Scotia Airways, they have the culture of trust has been emphasized and developed by both the management and workers, and this has served to enhance the effectiveness, efficiency and overall performance of the business. When they have the awareness, team spirit, have the incentive measures, the working efficiency will increase.Product goals signify better service to consumer and higher products qualify, to ensure sustained and stable quality system. The Scotia Airways do well in this side,it offers several value added services, such as, valets to assist the passengers in boarding the plane, gourmet meals and a range of in-flight services and entertainment. And Scotia Airways is the first airline to offer full business class services, but at prices that are equivalent to the economy class of its competitors. A key driver of the success of Scotia Airways is the management focus upon the level and quality of service output.Consumer goals means satisfied the different demand from the different consumers. Scotia Airways is aimed at it, their operate scheduled flights mainly targeting business and leisure travelers and aims to provide exceptional value for money, unparalleled comfort and convenience to its passengers. It illustrated that everyone in the world is not the same, so an organization especially a company should adapt diverse needs.Secondary goals by organisations which are not the most important things that they would like to achieve but are nevertheless important. It is mainly about the social responsibility, making a profit or improving award. The Scotia Airways has been reinforced by positive management approaches and wide ranging reward policies that were agreed and supported by Trade Union representatives. And as far as possible to promote social harmony and integration, to create a better atmosphere.Object:Business objectives are more clear and specific than goals and identity the specific path to be taken in order to achieve goals. In this step, how can we do next, how quickly can we do it and how do we know when we have been successful are the important questions.The objectives should be SMART, include 5 aspects: Specific, Measurable, Attainable, Realistic and be Time-bound. These are the core of objectives’ requirements.To promote the market share increase, the airline has an increasing presence at Scotland’s main airports in Glasgow, Edinburgh and Aberdeen. And currently covers eight destinations across Europe, including Brussels, Paris, Frankfurt, Madrid, Rome, Lisbon, Amsterdam and Copenhagen as well as domestic flights to Manchester, Birmingham, Bristol and four London airports.It is also expanding to major business centers in Eastern Europe and the Middle and Far East. This several plans for improving the market share, expand the business scope is very effective.Pay more attention to suitable consumer groups is significant, too. The airline to operate flights mainly is the special value of providing funds for business and leisure travelers, incomparable comfort and convenience of passengers. To provide different services for different customer groups demand, is important to increase the performance and able to establish good relationship with customers.Policy:The policy is a require ment for the organization’s operating and transaction. It provides a guideline to channel a manager's thinking in a specific direction, it can also provide the path to complete goals and objectives. It provides a framework of rules or guidance within which management and staff can make decisions. Policies contain some different, for example, Inward investment policy, Welfare policy and Reward or Punishment policy.Inward investment policy: The equipments are freshing, all staff receives adequate training, the establishments of the new division and gain more market share are both in it.It has seen that the company expansion over resent year in many aspects and departments. Then they found new distributions in Eastern Europe and the Middle and Far East during this year.Reward or punishment policy: For the completion of the expansion target, organizations should set standards, regulations and purposes to evaluate employees' performance, and then take reactions respectively. The Scotia Airways has been reinforced by positive management approaches and wide ranging reward policies that were agreed and supported by Trade Union representatives.Relationship: The goal is the totality, it can including many objects, goals and objectives provide different kinds of requirements of organization. After make goals and objectives, the organization must have the policies to guides behavior by defining how something should be done. Suitable policies can help the organization to achieve goals and objectives, but inappropriate polices will result in bad effects and cannot complete the goals and objectives. Finally, healthy relationships among goals, objectives and policies are the basis of effective performance. The three affect each other and are both in hand.Q2: Explain the main principles of Open Systems Theory with reference to Scotia Airways.A2: The environments that are both internal and external would influenced the organization. The inter-related parts of a system can interact with the external environment. Changes in the external environment will affect the internal environment changes, the internal factors will also affect the overall changes, resulting in a chain effect.There are 4 aspects in this system. Input contains Staff, Managers, Clients orders, Bank loan and Equipment. Process contains Admin support, Allocation of projects, Communicate with clients, Promotion and Production. Output consists of High quality designs, Skilled staff,Satisfied clients and Service or product. Environment consists of Economy, Social trends, Policies, Legislation, Technology and Culture.When the EU and UK government relax their control over the licensing of airline provision, the input in the airway will increase, and then the output will also increase with the input. That is the external environment policy affect the change of the internal environment.And the government imposes taxes on high emissions of enterprise, then the cost will rise and the profit will reduce. So the company will decrease production, the airways maybe reduce a few airplane and maybe open up just one or two air lines.Q3: Identify the main differences between the formal and informal organization within Scotia Airways.A3: The Scotia Airways both formal and informal organization characte ristic.The aspects at formal organization characteristic are, it has clear goals, objectives, policies and missions; defined structure, clear division and classification; and the organization will be controlled. For example, the airways currently employ executives and managers in marketing, finance, HR and flight operations with operational and administrative staff within each department. Rosa Dallevic is in overall charge, assisted by her long-term colleague, Azim Ishtiaq. She has also employed the same personal assistant, Katrina Wright. That is a holonomic structure in the company.And the aspect at in formal organization characteristic is, it has ambiguous relationships in the airways. For example,the company is very much regarded as a family-style business and has established a range of suppliers and clients that are seen as the extended family. So it has relaxed and harmonious atmosphere, not very serious and tense.Q4: Describe four primary stakeholders of Scotia Airways and explain their interests in, and influence on the organisation.A4: G overnment: Whether the taxation violate related laws, whether the company compliance to related laws and whether solve the problem of local employment, that are the government concern about, is their interests. The influence in this case is the EU and UK governmentrelax their control over the licensing of airline provision. Then the airways business will improve and the profit will increase, so the government could charge a higher tax.Creditors: The creditors are concern about the credit score, liquidity, repayment ability and new contracts. When to borrow the money and when to return is the most important key to creditors. Only the airways credit rating better, can it borrow much money when they need, so the turnover of the fund more convenient.Investors: Have interest earning income from investment; have profitability, market share and business achievement are the significant matter to the investors. The influence are have big expansion plans and hire a team of administration. The investors in Scotia Airways have set an ambitious programme for expansion over the next 5 years, introducing flights to major European tourist destinations and to establish new branch in Eastern Europe and the Middle and Far East. Besides, They set about appointing a management team whose experience and expertise was firmly grounded in the budget aviation market.Employees: They concern about the rates of pay, job security, respect, truthful communication and work condition. The attitude and enthusiastic in working will influence the quantity and efficiency. The Scotia Airways have t o develop a wide range of rewards and punishment system, let the employees enthusiasm greatly improve.Q5:Identify an effective control strategy that the management of Scotia Airways could successfully implement, and justify its suitability.A5: I think the Bureaucratic control is the most effective control strategy to the Scotia Airways.Bureaucratic control means it can dominate the process, is the use of the determined rules, policies, hierarchy of authority, reward systems and other formal mechanisms to influence employee behavior and assess performance. The advantages are it could increase efficiency of the company, and can be controlled with market or price mechanisms, it is so stable. The disadvantage is the Poor flexibility. Bureaucratic control through the Organization Structure,In Scotia Airways, they begin to appointing a management team in the budget aviation market and currently employs 80 staff across all divisions. Its expansion over recent years has seen the company commit significant resources to the marketing and sales department, its finance department. There has been an increase in staffing levels, in budgets and in capital investment. It currently employs executives and managers in marketing, finance, HR and flight operations with operational and administrative staff within each department. Rosa Dallevic is in overall charge, and she has also employed the same personal assistant, Katrin Wright. In this organization structure, is helped promote consistency and continuity, lead to a positive working relationship within and between different departments. Various departments perform their respective duties, everything in good order and well arranged. The Scotia Airways also have some rules and regulations to guarantee employees behaviors in the company.So the Bureaucratic control is the best choice to the Scotia Airways.Bibliography:1. Stephen P. Robbins, (2008),The Principle of Management, 3edt,Beijing, China Renmin University Pres s Co. LTD2. Stephen P. Robbins, (2012), Organizational Behavior, 4edt,Beijing, China Renmin University Pres s Co. LTD3. Douglas Macgregor, (2008), The human side of enterprise,1edt,Beijing, Chinese International Book Trading Corporation. LTD4. James G.March, Herbert A Simon (2013), Organization, 2edt, Beijing,China Machinery press. LTD。
HND_经济学导论_outcome2_标答
Outcome 21.书178，179二个图Households buy commodities from firms, using the income individuals receive for their labour and capital supplied to firmsThe firms use the income received from the sale of commodities to pay for the labour and to invest in new premises,plant and equipment.2.Injections：Investments：Loan from banks, building societies, insurance companies etc. Money saved by household can be re-injected back into the inner flow as investment by business sector (firms) after they borrow the money out of financial institutions. Government Spending：Roads, hospitals, ing the fund largely collected through taxation, the government can be the biggest buyer spending money on the products and services provided by firms If government wishes to expend the flow of income in circulation, it may choose to increase the amount of its spending and probably adopt a tax-cutting.Exports：These are goods and services that are sold abroad. The payment for them will return to the firms in this country. For example, if someone buys textiles of China, then the proceeds of the sale belong to our country. This increases the circular flow and creates more economic activity in the economy for our country. Withdraws：Savings：Amount of income that consumers choose not to spend but retain for the future uses (normally deposit in financial institutions, e.g. banks and buildingsociety). Ability or desire to save out of income is measured by ‘marginalpropensity to save (MPS)’. Level of income is the biggest factor affects level of savings, i.e. the higher the income is, the greater savings (withdrawal) out ofcircular.Taxation：Through forms as personal income tax, V AT, corporate income tax, the disposable money circulated in the economy is drawn out by the government as its revenue. This can be in the form of direct tax on our income or indirect tax onpurchases, for example V AT.Imports：Part of the consumption of both households and firms are on foreign products or products contain imported components. So that portion of expenditure will eventually go into foreigners’ pockets therefore reduce the total income circulatedin domestic economy. For example if someone in Britain buys a Japanese car, then the proceeds of the sale will go back to Japan. Imports are therefore withdraws from the circular flow.3.四选二(a)1.Production: In calculating GNP, only those items which are paid for are normally included because calculations have to be made in money terms, the inclusion of other goods and services would involve imputing a value to them. For example, if a value is placed on certain jobs which a person does for himself—growing vegetables, cleaning his car, painting his house, then why not include shaving, cooking, cleaning, driving to work, etc. on the other hand, excluding what a person does for himself may distort national income figures. An imputed money value is included for certa in payments in kind which are recognized as a regular part of a person’s incoming earning, for example, goods produced and consumed by a farmer.2,Danger of Double Counting:This can arise through ‘stock appreciation’. When inflation occurs, the value of stocks of raw materials goods raises. While this adds to the profits of firms holding such stocks it represents no increase in real output. Such gains therefore, must be deducted from the Income and Output figures.3,The Black Economy: The size of the black economy can be difficult to estimate but certainly causes distortion. National Income figures for certain industries, for example, building industries have many workers who are self-employed and are paid in cash, tax revenue is lost and welfare benefits are claimed unnecessarily.(c)National Income will be in equilibrium when expenditure is equal to consumption or when injections equal total withdrawals total. And change in the level of injection or withdrawals will bring about a change in National Income. However, the change in National Income will be relatively greater than the initial change. This is known as the “Multiplier” effect.+ 书第200页的公式。
hnd经济学1微观经济学outcome1
Table of Contents1.0Introduction (1)2.0 Oligopoly (1)Entry barriers (1)Non-price competition (2)3.0 Explanation for Diagram in Oligopoly (2)4.0 Pure Competitive Market (3)Lower prices (3)Low barriers to entry (4)5.0 Explanation for Diagram in Pure Competitive Market 46.0 Roles of Profit in Market Economy (6)Demand for factor resources (6)Market Entry (6)7.0 The other two alternatives to profit maximization (7)Satisficing behaviour (7)Sales revenue maximization (7)8.0 Influences on a Firm in the Short Run (8)9.0 References (9)1.0I ntroductionMarco and Micro economic knowledge we had learned in this period is mainly to discuss about some major market structures in the entire market now. And they are oligopoly, monopoly and pure competitive market and so on. In this case, the Virgin Mobile had entered in mobile phone market in the UK, which is an oligopoly market. In this market, Orange, Vodafone, BT Cellnet and One2One are the oligopolists.2.0O ligopolyWhen a market or industry is dominated by a small number of sellers, we usually believe an oligopoly appears. And there are two main features of oligopoly:Entry barriers: It’s a great block for the new company to be a long-run part of an oligopoly market. Usually, many smaller firms operate on the periphery on such s market, which means these companies cannot reach the supernormal profits or affect much to market prices and output. Take Virgin Mobile (VM) as an example: Before VM engaged in the mobile phone market in the UK, there were some industrial giants conquered the market-Orange, Vodafone, BT Cellnet and One2One, which account for a large market share. Although VM is making profit, the money it earned is far less than any one of these oligopolist.Non-price competition:As a few company be dominant to an industrial, pricing can be no longer an effective competitiveness for those oligopolistic firms. Compared with pricing, after-sales service, extension of new market and advertising seem to be more emphasized by them. In this case, the VM is better to promote the competitiveness in such ways -- improving the after-sales quality, expanding into new markets , building their own brand and so on.3.0E xplanation for Diagram in OligopolyIn the oligopolistic market, the oligopolists may react diversely to the different price variation trend of their rivals. If one oligopolist raises the price and other companies will not follow it to maintain the market share, however, if the company reduce the price and other companies must follow, which is to keep more market shares. It can be seen in the kinked demand curve below.Before the price is higher than P1, the product demand is elastic that means the price raises and the total revenue will reduce. But when the price is lower than P1, the product demand is inelastic -- the price reduces and the total revenue will also do. Thus, the company may able to reach a stable profit-maximizing equilibrium at the point G, so the companies in the oligopolistic market can not change the price optionally.4.0Pure Competitive MarketIn the pure competitive market structure, the company can compete with each other perfectly. There are two common characteristics that are considered to be “competitive”are:Lower prices: Generally, a perfectly competitive market existswhen every participant is a "price taker"which means thesuppliers will have not able to raise price for facing elasticdemand curves, and no participant influences the price of theproduct it buys or sells.( /wiki/Perfect_competition#Basic_structural_characteristics ) .So simply raising price will make a loss of demand and totalrevenue. The cross-price elasticity of demand can reflect thecustomers’attitude towards some particular goods. Thedemand of substitute goods is holding pace with the pricewhen it has any change. Conversely, the demand ofcomplementary goods would decrease when the price increase.In this condition, customers will always find the most propergoods for themselves.Low barriers to entry: Compared with oligopoly, the new firms would be easier to enter in the pure competitive market. Andthe entry of new participants will probably providecompetition and ensure price is kept low in the long run.5.0Explanation for Diagram in Pure Competitive MarketIt is known to all that each individual firm is considered as a pricetaker. Customers may not prefer to buy a product with a higher price. Because of the characteristic (perfect knowledge) of pure competitive market, neither buyers nor sellers can gain an advantage and firm may sell their goods at the point where they have the maximized profit.From the short run view of a firm in a pure competitive market structure, the explanation of the diagram is as follow:The price in a pure competitive market structure is decided by demand and supply, which can be seen in panel on the right. When demand rises from D1 to D2, the equilibrium point goes from A to B and P2 is the established price. Because of the price which a firm use stays at P2, marginal revenue is equal t o P2 at last average revenue is equal to P2 as well. When MC=MR, pr ofit maximization is achieved, so the point which firms will stop prod ucing should be C which ordinate is P2 and abscissa is Q2. Accordingto the diagram above, when quantity is Q2, ATC is equal to P1. So P2 subtract P1 is average profit and then multiply by Q2 can obtain tot al profit.6.0Roles of Profit in Market Economy●Demand for factor resourcesScarce factor resources to flow where the expected rate of return or profit is highest. In the mobile phone market, when Richard Branson started to get profit in 2002, VM has 1,445,492 customers, which means stronger demands, more labour and capital are committed.With more scarce factor resources, VM may able to earn more profit.However, in a recession, the output, incomes and investment for VM must all fall, which may cause the profit loss. Thus the company should take action (for example cutting costs) to preserve its market position.●Market EntryIf an individual company gets more profit than others, it must be a signal to other producers within a market that profitable entry may possible. After three-year efforts, Richard Branson made VM profiting.When it comes, many other firms would be attracted to enter the industry. Thus, the competition would be increased and new products,technologies would be also updated in a higher speed.7.0The other two alternatives to profit maximization●Satisficing behaviourSatisficing behaviour can be the substitute to profit maximization behaviour. This behavioural method lays stress on how decisions are taken within the firm. When a decision is making, satisficing explains that individuals and groups should choose the first option that is good enough to address most needs rather all. Based on Herbert Simon’s work concerning behaviour --“people possess limited cognitive ability and can exercise only ‘bounded rationality’when making decision in complex, uncertain situations”, satisficing behaviour encourages individuals and groups to attain a more realistic goal.If VM set a goal that expending their customers to 2 million in a year, finally it reaches 2.5 million. Thus wise we can take the goal for a receivable.●Sales revenue maximizationThe goal of sales revenue maximization is to maximize the sales other than profits. The managers decision price and strategy of products. In this pattern of management, business can grow or sustain marketshare, ensure survival, discourage competitors, achieve bonuses and build the prestige of the senior management.For the VM, when it initially entered the mobile phone market, it is a great approach that selling their products as many as possible with the lowest profit to enlarge their market share.8.0Influences on a Firm in the Short RunFrom the diagram above, which can be seen are total cost (TC) is the sum of fixed (TFC) and variable costs (TFC).In the beginning, when nothing is being produced ,the fixed costs will be equal to the total cost. The TC and TVC increase concurrently with the quantity, but they are paralleled and the distance between them is TFC which is always invariable. And total cost is an upward trend.The diagram is about the short run cost curves. One time the fixed cost is excessively used, which will lead to the progressive decrease of marginal product, meanwhile the marginal product reduce will lead to the decrease of marginal revenue. Leading the reducing of the ATC when MC<ATC, on the opposite, it will lead to the ATC's increasing. Making the short-run ATC curve look like U-shaped, on the other side, the law of diminishing returns will lead to the rise of marginal cost of pr oduction as output increases.When AVC increasing higher than the fall in AFC one time the output in creases , which the marginal cost is rising will lead to the average total c ost rising9.0References( /wiki/Perfect_competition#Basic_structural_char实用文案acteristics ) .标准文档。
HND经济学导论OUTCOME3_共2页
Market Failure and Government PolicySCN: 177099996GTB4Li WenxuanTutor: Lou QiuyinNovember 6 , 2016thContent 1.0 introduction2.0 Market Failure2.1 Merit Goods2.2 Public Goods2.3 Imperfect Competition2.4 Externalities3.0 Welfare Policy3.1 Some important welfare3.1.1 child benefits3.2 Case of welfare3.3 Instrument4.0 ConclusionReference1.0 IntroductionEconomy is human activity that consists in producing exchanging, distributing, and consuming goods and services, studied by economics and realized inside on. In this report, discussing the reasons for market failure and probe government roles in relation to each of the following and government policy.2.0 Market FailureThe market is a set of buyers and sellers with the potential to trade with each other. But when the market cannot distribution goods and labor efficiency that is market failure.2.1 Merit goodsMerit goods are products whose consumption or production creates social benefits that exceed the private benefit. Just like education, healthcare, public transport. Because many people cannot know anything the advantages, so the government should intervene people choice. Government can get to make a law. For Chinese, have ‘Nine-year compulsor y education law’. That can help people choose merit goods and benefits of people.2.2 Public GoodsPublic goods are ready for societal members enjoy the items together, strict sense of the public goods with non-competitive and non-exclusive. It is a public thing just like the Park bench or civil defense siren. Someone used it that do not hinder others use it. The government should build this goods, because do not have someone could even want to build build but the society need it. The government use tax to build and maintain it.2.3 Imperfect CompetitionImperfect competition is monopolistic competition and oligopoly. It is meant by perfect competition cannot maintain. Because have some buyers or sellers could affect the market price. The market cannot change the price. Because the imperfect competition will decrease the market efficiency. The government should change it to adjust a market to a new environment. For example make a law. Just likes Antitrust Law.2.4 ExternalitiesThe following sentences are from Wikipedia. In economics, an externality is the cost or benefit that affects a party who did not decide to incur that cost or benefit. Economists often urge all governments adopt policies that "internalize" an externality, so that costs and benefits will affect mainly parties who choose to incur them. Just like the pollution, government thinks who take this who should solve this. If there are external benefits, such as in communal safety, less of the good may be produced thanwould be the case if the producer were to receive payment for the external benefits to others. Thus, unregulated markets in goods or services with significant externalities generate prices that do not take into account the full social cost or benefit of their transactions; such markets are therefore inefficient. So government should make some laws or rules to standard it.3.0 WelfareThe UK as a long-term capitalist country. It is a long and perfect social welfare safeguard system. Society welfare including the benefits of family, child benefits, death and benefits etc.3.1 Some important welfare3.1.1 Child BenefitsThe child benefits in the UK, government ensures that every child can receive education and life even they do not have kinsfolks. From child to adult, government subsidies, aid, guarantee the smooth growth of children. The British government's children's welfare, both in terms of welfare, welfare content and service level, its integrity and comprehensiveness is exemplary. first of all, British children welfare legislation perfect, various kinds of laws and regulations, not only covers the grand, and established the principle of "children's welfare is the highest", for children's right to survival and development, such as participation rights protection are made a detailed regulations and emphasis. second, the completion of the "welfare state" for citizens "from cradle to grave tomb" comprehensive social security, the benefit of children mainly include: the national health insurance, children can enjoy besides dental surgery, visual acuity and glasses all free medical care. Family subsidy system, covering maternity benefits, birth allowance, children stick, Tianjin, children, child care allowance, single special allowance, etc.; Education funding, children receive primary and secondary school education for free, with free books, stationery, lunch at school; Social services, set up the children's home within the community, for too busy to take care of the child's family to provide help and received orphans and abandoned children, and is responsible for their life and education. Again, the whole society to found a multi-level, vertical and comprehensive child welfare system. This way is mainly under the government's macro management, association for the disabled, charitable organizations, social service machine structure, all kinds of schools and community organizations and groups, within their respective fields to carry out the child welfare services, formed a multi-level, three-dimensional type, a full range of child welfare services network. The British not only built up social relief, social insurance, social security, basic education, medical service content such as children's social welfare system, and children's rights in government policies, laws and institutions for medical treatment and teaching education practice of occupies more and more important position.3.2 Case of welfareIn the UK, child benefit is operated by Her Majesty's Revenue and Customs (HMRC). As of April 2015, This is £20.70 per week for the first child (including the eldest of a multiple birth) and £13.70 per week for each additional child.The system was also implemented in August 1946 as "family allowances" under the Family Allowances Act 1945, at a rate of 5s (= £0.25) per week per child in a family, except for the eldest. This was raised from September 1952, by the Family Allowances and National Insurance Act 1952, to 8s (= £0.40), and from October 1956, by the Family Allowances Act and National Insurance Act 1956, to 8s for the second child with 10s (= £0.50) for the third and subsequent children.By 1955, some 5,000,000 allowances were being paid, to about 3,250,000 families.It was revised in 1977, with the payments being termed "child benefit" and given for the eldest child as well as the younger ones; by 1979 it was worth £4 per child per week. In 1991, the system was further altered, with a higher payment now gave the first child than for their younger siblings. In October 2010, the Conservative-Liberal Democrat coalition government announced that Child Benefit would be cancelled from households containing a higher-rate taxpayer from January 2013.After some controversy this was amended so that any householder with a least one person with prescribed income over £50,000 would lose Child Benefit by a taper which removed it altogether when the income reached £60,000. This came into force on 7 January 2013.3.3 InstrumentIn the UK, child benefit is administered by Her Majesty's Revenue and Customs (HMRC)4.0 ConclusionOver the years, the welfare policy help stabilize the social order, ensure the people's living standards, the general improvement of social material and cultural level. Close the gap between the rich and the poor area, ease social contradictions in all walks of life. However,, at the same time, the years of high welfare, let government deficitcontinue to increase, and weakening the enthusiasm of people to work, make social efficiency is low, and the resulting a series of struggle between the parties.ReferenceExternalities https:///wiki/Externality Buchanan, James; Wm. Craig Stubblebine (November 1962). "Externality". Economical. 29 (116): 371–384. doi:10.2307/2551386Case of welfare，https:///wiki/Child_benefit，Https:///government/publications/tax-and-tax-credit-rates-and-thresholds- for-2015-16/tax-and-tax-credit-rates-and-thresholds-for-2015-16#child-benefit-and- guardians-allowanceJump up ^ Whitaker's Almanack: For the year 1958, p. 1127. J. Whitaker & Sons, London, 1957Jump up ^ "Spending Review, October 2010, United Kingdom HM Treasury, Oct 2010. Jump up ^ "HMRC High Income Child Benefit chargeRedo:3.1.1 Child Benefits. No matter how much you earn or how much insurance you pay, you are eligible for Child Benefit as long as you have a duty to caring for the child. Benefits apply to children under 16 years of age and are eligible if children aged 16 to 18 are still enrolled in non-tertiary institutions.How to Apply: Request by the hospital or the Social Security Office.British university before the stage of education is free, university stage, 90% of college students are eligible for government subsidies. Therefore, for low-income families, from kindergarten to university education is a loose way.。
HND2013经济学outcome1答案框架
Answer the following questions in relation to WJE1 Economics revolves around the nature of choice and the availability of Resources. With reference to WJE’s current situation, explain what is meant by the term ‘the bas ic (central) economic problem’.经济学围绕所选择的性质和资源的可用性。
参考Wje的现状，解释什么是“基本经济问题”（中央）。
回答：在这里涉及到基本经济问题中的两种，一种是稀缺资源，另一种是选择。
稀缺资源：定义（看书）+ 文章中的例子（金钱，材料等等具体说出来）；机会：定义（看书）+ 文中的例子（在introduce a new model和upgrade the Tiger2 at a modest cost中选一个）2 In relation to WJE’s current situation explain what is meant by the term opportunit y cost. 在关系到Wje现状的解释什么是短期机会成本。
回答：机会成本的定义（书上）+联系例子（文中选择了introduce a new model，因此文中的机会成本便是upgrade the Tiger2 at a modest cost）3 Figure 1 shows the demand and supply curves for performance sports cars similar to those offered by WJE. The quantity demanded is illustrated by line D, and the quan tity firms are prepared to supply is illustrated by line S.图1显示性能跑车所提供的类似的需求和供给曲线Wje。
HND 经济学(2) outcome3
Report for Economic IssuesOutcome 3Name: Zhang ChenMajor: International Economic and TradeClass: 2Number: 20115434Contents1. Introduction2. Findings2.1 Market Failure2.2 Public Goods2.3 Merit Goods2.4 Externalities2.5 Imperfect Competition2.6 UK Government policy on welfare2.7 The evaluation3. Conclusion4. Reference1. IntroductionMy reporter is expounding the market failure, and in my explanation I make appropriate reference to the role of government in relation to each of the following: Public Goods, Merit Goods, Externalities and Imperfect Competition. Later, I will explain the UK government policy on welfare and identify and describe the instruments the government use to achieve their policy and give a justified evaluation of the performance of the policy in relation to its use within the UK2. Findings2.1 Market FailureAn economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium.Market failures have negative effects on the economy because an optimal allocation of resources is not attained. In other words, the social costs of producing the good or service (all of the opportunity costs of the input resources used in its creation) are not minimized, and this results in a waste of some resources.For example, the common argument against minimum wage laws. Minimum wage laws set wages above the going market-clearing wage in an attempt to raise market wages. Critics argue that this higher wage cost will cause employers to hire fewer minimum-wage employees than before the law was implemented. As a result, more minimum wage workers are left unemployed, creating a social cost and resulting in market failure.2.2Public GoodsImagine that the government did not provide an army, navy, air force, etc. A private company might have the idea of forming a national army and to raise the required money, they decide to ask everyone for £10. If you were that person on the CND march, and you did not want to be defended, then you would not pay. There may be a lot of people who refuse to pay for this reason. Also, there may be some people who do quite want to be defended, but take the risk of not paying on the assumption that there will be some people in the UK that will care enough to pay the inevitable increased price. This is the free-rider problem. The people who do not pay, for whatever reason, are having a free ride.To sum up, the reason why public goods come under the topic 'Market failure' is that the free market would fail, horribly, to provide defense and street lighting if left to them. The government has to intervene to correct this market failure.2.3 Merit GoodsMerit goods are also things that are 'good' for you, but unlike public goods they can be provided privately. The problem is that if they are provided solely by the privatesector then they tend to be under-consumed, so, again, the government has to step in to correct the market failure.The best two examples are health and education. Both of these goods can be provided privately. Some of you may be at a private school (or independent school, as they are called), or your family may have a private health insurance scheme. But, if the government did not step in and provide state schools and the NHS, then numerous families would not be able to afford either. This would cause increased crime and reduced productivity from an underclass of the non-educated and increased health problems which can also cause problems for the labor market.2.4ExternalitiesNegative Externalities in Production: The socially optimal output level is less than the market equilibrium quantity. Negative externalities in production or consumption lead markets to produce a larger quantity than is socially desirable.When externalities are significant and private solutions are not found, government may attempt to solve the problem through command-and-control policies, market-based policies.The government can either regulate behavior or internalize the externality by using Pigovian taxes.2.5 Imperfect CompetitionIn economic theory, imperfect competition is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. It is a market structure that does not meet the conditions of perfect competition.There may be imperfect competition due to a time lag in a market. An example is the “jobless recovery”. There are many growth opportunities available after a recession, but it takes time for employers to react, leading to high unemployment. High unemployment decreases wages, which makes hiring more attractive, but it takes time for new jobs to be created.2.6 UK Government policy on welfareWelfare economics is the study of how an economy can best allocate its resources to ensure that they achieve the greatest utility or economic welfare of its people, When resources are used efficiently then they maximize the welfare or utility of all. This is refers to people’s well being, and the United Kingdom Government believes it has a role in the redistribution of income and wealth allowing the increase in economic welfare. This policy is achieved by1.Taxation——by taxing those “who have ”,the Government can then give to those who do not “have ”2. Legislation——employment laws or discrimination laws (see supply side policies)3. Providing system of benefits and support.Government accepts that there are certain goods and services that are beneficial tosociety but will not be provided by the private sector in either the correct quantity or at an affordable level. Such areas include health and welfare.Traditionally the Government provides the majority of care for the elderly in the form of large long-stay institution/nursing homes. The Thatcher Conservative Government believed in the role of the free market and introduced the legislation that would introduced the legislation that would introduce market principles into welfare by closing the long stay institution and increasing the number of services-care in the community.2.7 The evaluationIt is clear that the policy has proved to be more expensive than was envisaged. It is difficult to assess the amount of money needed to carry out the policies, such as, care in the community and free personal care-local authorities that may not have enough money to provide these partly due to the aging population. However, another issue arose. Once the policies were put in place, local authorities and social workers soon discovered that there were many more people in the community entitled to these benefits than had previously claimed Government help.This problem will, in the future, be exacerbated with the decline in the population –there will not be enough young people to work and provide the taxes needed to support an aging population. Another issue was that demand was outstripping supply. When free personal care was introduced, social work and health services were swamped with demand for these services.This is not the only area of public ownership. We must always remember that the role of public ownership will cover many aspects of our society:·Public goods·Nationalized / Government owned industries for example, BBC, Royal Mail ·Regulation of industries for example, transport with OFGAS, OFTEL etc3. ConclusionThis report mainly writes the term market failure, and discusses the role of government in the market failure by four parts. Also talk about the UK government policy on welfare and the way or instrument to achieve this policy and give a justified evaluation for this policy.4. Reference·Economic Issues: An Introduction··· 。
HND经济学导论outcome2
Assessment task 2Assessment task instructions The UK economy is made up of millions of people and billions of economic activities. Within these activities, goods and services are created and exchanged. It can be complicated at times but a simple model explaining in general terms how an economy is organised and how those involved interact is a good start.Question 1 Draw a diagram showing the participants of the Circular Flow of Income and explain how it operates. The simple model is sufficient for a beginning, but an economy is more complex and involves external influences, which can raise or lower economic activity.Question 2 Identify three injections and three withdrawals from the Circular Flow of Income; give examples of each, and how they affect levels of economic activity. In the following table, there are examples of the growth rate of various countries over nine years Country United Kingdom United States Bulgaria Switzerland 1994 4.7 4.0 1.8 0.3 1995 2.9 2.7 2.1 0.6 1996 2.63.6 -9.4 0.3 1997 3.44.4 -5.6 1.7 1998 3.0 4.3 4.0 2.4 1999 2.14.1 2.3 1.6 2000 3.1 3.85.4 3.0 2001 1.9 0.3 4.0 1.3 2002 1.6 2.4 3.5 0.6Question 3 Choose any two of the following questions: (a)Explain at least three difficulties encountered in measuring the National Income of a country. (b) Explain (using at least three reasons) why it is difficult to compare the growth rates of the countries in the table above. (c) Explain how the multiplier effect could substantially raise the level of National Income. (d) Explain the difference between real and nominal growth using the table above.Assessment task 2 Outcome(s) covered 2 Suggested solution and making an assessment decisionQuestion 1 A circular flow diagram clearly identifying the following in their correct places: Firms: Households: Markets for factors of production: Land, labour, capital and wages, rent, profit and income. revenue spending Goods and services sold Goods and services bought Firms Households Production inputs Land, labour, capital Wages, rent, profit income （PPT 书P74）Question 2Injections: Investment Withdrawals: Savings Government spending Taxation Exports Imports Appropriate examples: Investments: New factory being built 【built a new private enterprise (grow)】Government spending: New hospital being built (not PFI or PPP)【built public schools (grow)】Exports: Firm wins order to supply new computers to foreign firm 【In cooperation with foreign sales (grow)】Savings: High interest rates result in more savings【a country saves too much of its income (decline)】Taxation: Imports: Government raise level of income tax 【government raise income tax (decline)】Record numbers of holidaymakers go on overseas holidays 【spending on foreign goods by more national】（PPT书P73）Question 3(a) Any three from the following: Errors/omissions from the data gathered，Black economy，Non-recorded items，eg DIY, housework, barter，Transfer income，Double counting.(b) Methods may change over time. Accuracy of figures，Inflation adjustments，Social conditions，Work conditions，Unequal distribution of income. Spending patterns eg defence.(c) Explanation of multiplier either in words or through use of algebra（书P199.200）. Explanation should show that an initial injection to National Income results in a larger level of NI than the original injection. Propensity to save and consume.(d) An explanation of the difference between real and nominal growth, identifying that in real terms inflation is taken into account. In 1998 the growth rate is shown as 3%. If this figure is the nominal rate and inflation is measured at 3.1%, then there is no real growth in the economy. Any similar example will suffice.【GDP=Consumption +Capital investment spending +GeneralGovernment spending +Exports +Imports of Goods(Services) GNP=GDP+NPIA(Net property income from abroad) National Income=GNP-Capital Consumption Real Growth Rate=Nominal Growth Rate-Inflation Rate (Real Growth is the grow adjusted for inflation, Nominal Growth is the grow in the current value of money, Inflation Rate is measure of rate of change in price index)2000: 3.1-3.2=-0.1 no real growth 】。
HND 经济学大一outcome1课件
Number of uses
• Ceteris paribus, the greater the number of uses to which a commodity can be put the greater its elasticity of demand.
Proportion of income spent on product
A change in the tax laws which increases the supply of loanable funds will have a bigger effect on investment when A) The demand for loanable funds is more elastic and the supply of loanable funds is more inelastic B) The demand for loanable funds is more inelastic and the supply of loanable fund is more elastic C) Both the demand for and supply of loanable funds are more elastic. D) Both the demand for and supply of loanable funds are more inelastic.
• The greater the durability of a product, the greater its elasticity of demand will be.
Habit forming
• The habit forming goods such as alcohol, cigarettes etc. will tend to have inelastic demands.
hnd-经济学1-微观经济学-outcome1
Table of Contents1。
0Introduction (1)2。
0 Oligopoly (1)●Entry barriers (1)●Non—price competition (1)3。
0 Explanation for Diagram in Oligopoly (2)4。
0 Pure Competitive Market (3)●Lower prices (3)●Low barriers to entry (3)5。
0 Explanation for Diagram in Pure Competitive Market (3)6。
0 Roles of Profit in Market Economy (4)●Demand for factor resources (4)●Market Entry (5)7.0 The other two alternatives to profit maximization (5)●Satisficing behaviour (5)●Sales revenue maximization (5)8.0 Influences on a Firm in the Short Run (6)9.0 References (7)1.0IntroductionMarco and Micro economic knowledge we had learned in this period is mainly to discuss about some major market structures in the entire market now. And they are oligopoly，monopoly and pure competitive market and so on. In this case，the Virgin Mobile had entered in mobile phone market in the UK，which is an oligopoly market。
精选-HND经济学导论Outcome1考试题及翻译
Assessment task instructionsRead the following passage and answer the questions which follow. SteamScot is a privately run rail company, which provides steam train journeys in Scotland. At present they operate three specific rail journeys in various parts of Scotland. These journeys are aimed at the tourist market and operate throughout the summer months. Around 70% of passengers are domestic tourists with the other 30% overseas visitors. The company has been fairly profitable over the last decade, and with the help of various grants available, they are considering an expansion of its operations. However, it is also aware that within the next five years a major overhaul of its capital stock as well as major repairs will have to be undertaken. It is this dilemma that the board of the company faces. It is estimated that in the coming year it will have £2.5 million to spend. This money could be used to open a new line between Inverness and Fort William, or to begin the repair and replacement plan on its current routes.A recent report has highlighted that following recent terrorist threats, visitors from the USA are expected to fall within the next three years, but that European visitors are likely to increase as the Euro rises in value. It is also expected that Visit Scotland (the tourist organization) will mount a major advertising campaign in England to encourage more visitors from that country.The boards of directors of SteamScot are also considering a change in their pricing but are unsure if this is a wise move. At present the average price of a journey is £4 and 60,000 tourists use the services. A report commissioned by the board on price, supply and demand is shown on the following table.1 SteamScot face a ‘basic economic problem’!What is this ‘problem’ and what is the opportunity cost of the replace and repair programme?2 From the table in the previous passage, construct a demand and supply schedule on a diagram and identify the equilibrium price and quantity.3 (a) Calculate, using total revenue, the price elasticity of demand when:(i) price rises from £4 to £5(ii) price falls from £4 to £3(b) If you were a member of the SteamScot board, what would you recommend the company does in both situations? Give reasons for your advice.4 How would the advertising campaign by Visit Scotland affect demand for SteamScot journeys?Show the effect on a diagram.5 Apart from an increase in price, what other determinant would encourage SteamScot to increase its supply of rail journeys?6 If the Chancellor of the Exchequer was to reduce income tax, would this affect demand for SteamScot’s product s? Explain your answer with reference to income elasticity of demand.7 Using a diagram, show what would happen to the equilibrium if the Scottish Executive gave SteamScot a subsidy. Explain any changes and how the market would return to equilibrium.评估任务说明阅读下面的文章,回答下列问题。
HND经济学outcome1及问题翻译
SteamScot是一家在苏格兰提供蒸汽火车之旅的私有的铁路公司。
目前他们在苏格兰运作三个具体的铁路旅行。
这些旅行是针对旅游市场并贯穿夏季。
大约70%的旅客是国内游客与其他30%的海外游客。
过去十年来，公司一直相当盈利,借助各种助学金,他们正考虑扩大业务。
然而,它也意识到在未来五年内主要检修的资本存量以及大修必须实行。
这正是该公司董事会面对的进退两难的局面。
预计在明年将有250万英镑。
这笔钱可以用来打开一条威廉堡,或因弗内斯之间的新路线,或对其当前的路线开展维修、更换计划。
最近的一份报告强调以下恐怖威胁,预计在未来三年内来自美国的参观者下降,但欧洲的游客可能会增加欧元上升趋势。
它还希望访问苏格兰的旅游机构，将在英国组织一个主要的广告宣传活动,以鼓励更多来自英国的访问者。
SteamScot董事会也正在考虑改变他们的价格,但不知道这是不是一个明智的做法。
目前的平均价格是一次旅程£4并且有60000名游客使用我们的服务。
一份由董事会委托的关于价格、供给与需求的报告显示在下面的表格。
门票价格需求量供给量£6 20,000 100,000£5 40,000 80,000£4 60,000 60,000£3 80,000 40,000£2 100,000 20,000£1 120,000 0问题：1.steamscot面临的基本经济问题是什么?这个问题是什么,什么是更换和维修计划的机会成本?2。
从上表中,建一个供给和需求的安排的一个图表,并确定均衡价格和数量。
3.a)计算,总收益和价格弹性需求。
(1)。
价格从4上涨到5。
(2)。
价格从4下跌到3。
b),如果你是steamscot董事会的一员, 在这两种情况下你有什么推荐给公司呢?听听你的意见。
4。
苏格兰旅游机构的广告将会如何影响SteamScot旅行的需求?做出图表。
5。
除了价格上升,别的什么决定将鼓励steamscot去增加供应它的旅行?6。
hndsqa经济学outcome3
政府开支的必要性，四个角度：1公共物品：因为它的特征，非竞争性，非排他性，证明政府的必要（Public goods non-competitive, non-exclusive govement is necessary）（私人提供不了1.盈利困难(Private companies profit difficult)2.提供公共产品确定目标消费者非常困(Provision of public goods is Very difficult to determine the target consumers)，无法确定消费群体，受益对象非常广泛，无法收费(Unable to determine consumer groups, beneficiaries is very wide and can not charge)）有益性的，除了私人公司无法生产，是有益的。
2.搭顺风车：由于有人想享受公共商品的成果，但又不想付出代价，这就是搭顺风车的心理(Some people want to enjoy the fruits of public goods, but do not want to pay the price)。
导致这个产品会生产不足，没有计划的资金购买完整的商品(This leads to lack of commodity production, program money can not buy the full of Goods)，导致供应不足，生产不充分(under-production non-production)可以责任转给政府，克服这个弱点（Private companies can shift responsibility to the government, to overcome these weaknesses）。
3.外部性：正（Positive externalities）负外部性：属于市场失灵现象market failave。
hnd保险原理outcome1答案
1.There are both Primary and Secondary Functions connected with insurance. Primary Function :The basic function of insurance is to transfer risk and loss-sharing features, as well as economic compensation and insurance payment function. It is in line with the initial motivation of people to cope with risks, is the most important function of insurance. Secondary Functions :Secondary Functions may be direct or indirect.Direct functions :the stimulation of business activities.the solution to social difficulties.the removal of business distractions and problems.the promotion of less prevention.the production of invisible exports.EX: The stimulation of business activities. Any one of the operating companies will have potential risks, including the company building, machinery and equipment, and even computer security systems, etc., will be at risk, so there will always lose. The cost of insurance can be transferred to the insurance company may lose, this will reduce the company's losses, thereby reducing the burden.Indirect functions :promotes increased investment in the nation.marginally reduces prices of goods and services.reduces insurance premiums.EX: Promotes increased investment in the nation.The insurance company gathered a large number of funds through their activities, and these funds are being used to investment, government and industrial sectors with the invested money to some of the financial instruments, so as to promote the development of the country.2.The definition of risk is the uncertainty of loss. This means that individuals will take the risk and cannot ensure whether the loss will occur.There are five different forms of risk in risk. They are rspectively pure risk, speculative risk, fundamental risk, particular risk, …acceptable‟ risk.Pure Risk : Pure risk refers to the risk of loss is only and no profit opportunity, can also be seen as “no beneficial result”.For example, Fire. In one day's night, a man in the house to smoke, he has not smoked, an emergency telephone calls him out, shut the cigarette butts thrown into the dustbin men, the man was gone, did not destroy the cigarette ignited wastebasket, then caused a fire.The risk is insurable and the insurance company can help it .Because the insurance company can calculate the probability of the occurrence of the event according to the previous data, so the risk is usually to be insured.Speculative Risk:Speculative risk is likely to generate revenue or risk of loss, both profit opportunities may exist, and there's the possibility of loss.For example,Stocks.A man bought some shares a few days the stock market crash, the money invested as spilled water, never come back.This risk is uninsurable, the insurance company will not help them.Because the risk of speculation too many variables, it is difficult to predict, the greater the investment, the greater the loss of the insurance company, so under normal circumstances, this risk can not be guaranteed. Solution : People can choose to diversify investment, thereby reducing the risk. Fundamental Risk : The fundamental risk refers to the risk caused by non personal behavior. It affects the whole community and the whole society, and it is unable to prevent the risk of personal.Such as war. If during the war, your assets or if you have nothing to lose oneself, then the insurance company will not be responsible and will not help them, because such risk is uninsurable. Because such cases, the impact is too large, the insurance company may not be protected.Solution: People can seek help from International Aid Agencies and Governments.Particular Risk : Particular risk refers to the risk caused by personal behavior, it only with particular individuals or business related, does not affect the entire community and society.Such as vehicle accident . On thursday's day, Mr. Zhang was driving a car on the road, opposite the sudden appearance of a truck, Mr. Zhang response is not timely, resulting in two vehicles collided, causing a vehicle accident.This risk is insurable. Because of these risks can be predicted by people, the probability of these events can be calculated.‘Acceptable Risk’ : Acceptable risk is the maximum extent of the losses expected risk of accidents at work or personal financial ability and mental capacity within the maximum extent.For example, a man was walking on the road to a drop from the clouds suddenly was hit in the head of the football. The risk is uninsurable. Because of this risk group of individuals within the tolerance range, the insurance company may not be able to help.Solution : As far as possible to reduce the risk, increase the protection measures or choose not to do.3. There are four major types of insurance, include property insurance , personal insurance, motor insurance and travel insurance .Property insurance includes marine, fire, household, theft, livestock, consequential loss and aviation.Fire insurance refers to fixed assets are kept in place and in a relatively quiescent state of the subject matter insured, the insurer shall be borne by the insured property insurance accident suffered losses of a financial liability and property insurance. Insurance stored addresses are not free to change the subject, change is affecting the effectiveness of the insurance contract. Fire insurance insurable risk is very broad, including natural disasters and a variety of accidents. Fire insurance insurable property include: housing and other buildings and ancillary equipment renovation.Finally, the amount of insurance fire insurance is usually determined by the breakdown of the underlying insurance.Theft insurance.During the period of insurance, the insurance address stored in the property insurance, the loss suffered damage due to external has obvious traces of the theft, robbery, caused by theft, the insurance company responsible for compensation; however, the insured person and their family members, service personnel, who the theft, theft or condone the others by insurance property loss, the insurance company is not responsible for compensation.Aviation insurance . Aviation insurance is based on the aircraft travel is a kind of insurance mark insurance, is a kind of property insurance. When the insured aircraft due to natural disasters or accidents and damage, resulting in third or the passengers personal injury, property loss, the insurance company responsible for compensation.Personal insurance includes personal accident, personal health, employer‟s liability, public liability and life assurance.Personal accident insurance refers to the insured in the insurance period, subject to involuntary, exotic, accidents happen suddenly, causes the body to suffer injury or death and disability, the insurance company in accordance with the provisions of the contract of insurance the insurance that pays insurance gold. Such as falling off a horse or being bitten bu a monkey.Personal health insurance is designed to replace income on a long-term basisi for a disability caused by sickness or an accident. But ,some items not included in the policy such as AIDS etc.Motor insurance include third party; third party, fire and theft adn fully comprehensive. Travel insurance include personal accident benefits; medical expenses; loss of deposits; baggage,personal effects and money; personal liability; delayed baggage; hospital cash benefits; travel delay.4.This case suit property insurance. Mike went to horse racing, and later found on a camera on the seat was stolen. This event belongs to theft. This is within the range of theft insurance. Cameras are valuables, insurance companies should ensure and verify the authenticity of the event. Meanwhile, Mike needs to check the limit of insurance claims. First, to assess the value of the camcorder, and then have to check whether within the scope of insurance. If the camcorder is not covered by insurance coverage, you need to buy a separate insurance for the camera.5.This case suit travel insurance.Miike‟s mother was ill during the period of traveling abroad. In foreign hospital to be described as sunstroke.Then travel to be terminated, back to the local hospital to check, she had suffered a minor stroke. At the same time, Mike also should pay attention to some matters needing attention of travel insurance.First, Mike should look at the specific insurance policy, and then look at whether the costs incurred by the hospital in the insurance coverage.Finally, his mother previously been sick, he should tell it to the insurance company to see if in the coverage,if did not inform the insurance company, the insurance company will not pay compensation.。
HND大二经济学 outcome1
The Analysis of the Virgin Mobile by Using the Micro Economic TheoryName: Jiang WeiStudent ID: 2011935206Date: May 1, 20131.0 IntroductionCase: Virgin Mobile is a new company formed by Richard Branson, through his three years of efforts to obtain benefits. Until 2002, the company is to have a considerable customer and achieve profit maximization. These customers, and Virgin Mobile contract, those who use Orange, Vodafone, BT Cellnet or One2One a small part of it that oligopoly. Paper is to analyze the microscopic theory of Virgin Mobile ties. In the paper, the main theories include: the characteristics of short-term costs and oligopolistic maps, features and figure of perfect competition, profit maximization (Williamson's theory and the growth maximization theory) alternatives, and profit maximization of the two the role. From these sections, we will have a depth of understanding of Virgin Mobile.Questions:1the mobile phone market is believed to be an oligopoly---what are two characteristics of this market structure?2 illustrate with an appropriate diagram and describe the price and output behavior that may be seen in an oligoplistic market structure.3 choose another marker structure and suggest two characteristics of this market structure.4 for your chosen market structure and with the aid of an appropriate diagram describe the price and output behavior in it5 what two role would profit have played in attracting richard branson to the mobile telephone market.6 analyse two other alternatives to profit maximisation as a goal of the firm.7 discuss what influences the shape of the total cost, average cost and marginal cost curve in the short run in a firm.2.0 Finding :Behavior of the mobile communications market vendors2.1 Two characteristics of oligopoly The production and sale of a commodity from the market, few companies controlled by several major market structure.In the case of the mobile phone market, is believed to be an oligopoly. Oligopolistic market forms, that is, a market or industry dominated by a few sellers.The main features of an oligopoly of two.(1) interdependence is the basic characteristic of oligopoly markets with independent features, but their actions affect each other and interdependent. This oligopoly firms can reach a total of a variety of ways cooperation can sign an agreement to secretly understanding. A few firms account for a large market share so that these companies have very strong monopoly power. (2) The basic factors is the existence of these industries obvious economies of scale of economies of scale make large-scale production has a great advantage.high profits will attract more companies to enter the industry and profits to the company to finance development. large companies growing, small companies can not survive the final formation of a small number of highly competitive business situation.The main features of perfect competition(1) A large number of buyers and seller of the commodity, so that no one firm can affect the market price through its own action.(2) Freedom of entry and exit to the market for buyers and sellers. this is probably the most important condition for the theory of perfect competition2.2 Firms in the mobile communications market price of the demand curveThe figure shows that oligopolistic market structures may see the price and output behavior. OP is the price and OP output. If the price P will increase the demand, then its sales will decline. Demand curve is elastic. Conditions of this price increase will result in the loss of market share. Then, production will decline, but could cause the target can not be transferred out.On the other hand, if the price is lower than P, the price cut will affect the opponent will be changed. The price decline, the number will decrease, so production will increase. This growth trend in the company's products target the results quickly. A loss of profits in sales. Sales may be difficult to change. Demand curve is inelastic.The market demand curve and the demand curve for a perfectly competitive market are not the sameThe following figure shows the possible structure of a fully competitive market price and output behavior. As the characteristics of the market, average revenue equals marginal revenue. Demand curve is perfectly elastic. Price level is determined by the recipient. To maximize profits, it needs to average income is equal to marginal revenue, the only way companies can get a normal profit.2.3 Roles of profit in a Market Economy.Profit is the ability to return to the entrepreneur. In this case, by Orange, Vodafone, BT Cellnet or One2One market structure, so that profit Richard Branson, is a leader in performance incentives, and get more benefits. In addition, the behavior of profits to attract entrepreneurs into the industry's investment signals. Circumstances, increase profits investment, may also attract the attention of other companies and a growing number of companies to increase the number ofprograms and technology. In addition, the output is running after profits. Profit depends on the number of products and customers.2.4 Profit maximization as a goal of the firm.The first role of profit maximization, the sales revenue maximization theory. Managers will seek to maximize sales. The reason is that it may determine the level of sales manager. It is becoming increasingly important, as the sales manager's role is to function as more focused. In addition, the manager's salary, power and prestige may be directly dependent on sales.The second role of profit maximization is that growth maximization theory. Maximization and business growth strategy is at the expense of the enterprise to maximize the flow of future profits growth. Manager of efforts, not the most profitab le growth. ≥ advertising spending growth needs; further price cuts; extensive advertising, may be harmful to the mobile communications industry, because of the economic growth and financial constraints on growth management constraints.2.4 The curve of total cost, average cost and marginal costFixed costs are those costs does not vary with volume of output. The volume of output can be determined by dividing the average cost of the company's costs. The total costs include fixed costs and average costs. Therefore, the total cost is equal to the increase in the average cost of fixed costs. In addition, the total fixed cost is the cost to maintain the same increase or decrease output. In addition, the total cost of the process of slow decline in output growth. Although the total cost during this period with the total average costs. The average total cost and total cost is parallel.In economics, diminishing returns (also called diminishing marginal returns) is the marginal output of the production would adducealong with a until increase in the number of factors of production, and production of all other factors remain the same amount. Below average total cost curve shows the marginal cost. Marginal cost curve cuts the average cost curve at its lowest point. If the marginal cost is lower than average total cost, average total costs will fall. Contrast, the marginal cost exceeds average total cost, average total costs will increase.ConclusionVirgin Mobile is considered to be an oligopoly. Oligopoly in a few specific suppliers of goods. May be similar goods or services. There are two types of market structure is perfect competition and monopoly. Perfect competition has barriers to entry. In addition, all products are the same. Under normal circumstances, Virgin Mobile's goal is to maximize profits. When marginal revenue equals marginal cost, the maximum corporate profits. If you can not achieve this role, Virgin Mobile should ensure that the total revenue is greater than the total cost, the profit. If profit maximization is not the main objective of Virgin Mobile, there are some alternatives to maximize profits. One is to maximize sales; the other is to maximize growth. Virgin Mobile should make decisions for different situations.References1. Scottish Qualifications Authority, 2009, Economic 1: Micro and Macro Theory and Application.2. /3404/oligopoly.html3. /3661/perfect_competition.html。
HND经济学outcome1
The Micro Theory and Application in Virgin Mobile Summary: The thesis is contact the micro theory to analysis the Virgin Mobile company. In the thesis, the mainly theory including:Short run costs, the characteristics and diagram of oligopoly,the characteristics and diagram of perfect competition,alternatives to profit maximization( Williamson’s theory andGrowth Maximization Theory), and the two roles of profitmaximization. From these parts, we will have a deeplyunderstanding about Virgin Mobile company.Key words: Oligopoly, Perfectly competition, Profit maximization, Short run costAs the social developed, the mobile phone market has a large developed. Due to the mobile phone market need is high technology, only a few company account for a large share of the market, so these companies has a very strong monopoly power in this market. Products of these enterprises are equal quality, but the same products in their price is not same. With the fierce price competitiveness created by this sticky-upwarddemand curve, firms use non-price competition in order to accrue greater revenue and market share. Oligopoly means that there are only a few sellers of a particular commodity. In the oligopoly the price are unlike to change very often, and there are obvious barriers to entry, which is a small number of business to occupy most of the necessary conditions for market share. The following is the behavior of price and output views:In DG, the demand is elastic that all the firms will remain unchanged the prices. In DG, the demand is inelastic that all the firms will cut the price to gain the more profits, it will leading to a price war. So the point G is the equilibrium point that is the best option for the oligopolies market. At this time, the price is OP and the output is OQ.There is another market structure—Perfect Competition. There has some characteristics of this market. In Perfect Competition market, a large number of buyers and sellers of the commodity, so that no one firm can affect the market price through its own action. The other is freedom of entry and exit to the market for buyers and sellers. This is probably the most important condition for the theory of Perfect Competition. The following is the behavior of price and output views:From the diagram, we can note that the premise is that AR=MR=Price. Because of the characteristics of this from of market no one can gain an advantage and firms can sell their goods up to the point at which they have maximized their profit. In this market firms are ‘Price Takers’because any change in output of one firm is too insignificant to affect theprice. When the marginal costs meet marginal revenue, they generate the most profit.Profit is the reward to entrepreneurs and the incentive that encourages them to take risks. Profit is also a reward. It must be earned, as we have seen, generally in an imperfect competitive situation. Profit can also be termed ‘Normal’ or ‘Supernormal’. Normal profit is the minimum amount of profit, which is necessary to keep a firm in an industry. Supernormal profit is anything above that minimum amount of profit. Normal profit is the average rate of reward per until of output prevailing for the average entrepreneur over an economy as a whole. The following diagram shows the normal relationship between revenue cost and profit and output.Maximum profit occurs at point Q2 where gap between total cost andrevenue is greatest. Total revenue highest point occurs at Q1 and after this point declines because the total cost starts to rise quickly as output increase.An alternative way of showing what effect might be of maximizing profits of revenue would be to use the marginal and revenue diagram already shown. This would look like this:When output is Q1, price is P1, this is where marginal cost equals marginal revenue (MC=MR), the profit maximum. When output is Q2, price is P2, where marginal revenue equal zero (MR=0), the revenue maximum.For many company that profit maximisation is not always the main goal. They may want to achieve the profit maximisation, at the same timeachieve individual motives. There will analysis two other alternatives to profit maximisation as a goal of the firm: Sales Revenue Maximisation Theory and Growth Maximisation Theory. Sales Revenue Maximisation Theory was propounded by Professor W J Boumal based on the following: Managers get better perks and salaries from sales than profit. Market share is considered a better sign of progress of a firm. Because of the above, heavy advertising will take place to maximize sales. Profit may be reduced to pay for advertising. Firms will still make profits—to keep shareholders happy—and salaries and perks up—but it will not be a Profit Maximisation Philosophy. Firms which operate on this philosophy will attempt to sell more but at a lower price than a firm looking for maximum profit. The anther is Growth Maximisation Theory, it propounded by Robin Marris. It stressed that managers look for perks, status, salaries etc but want to grow their own firm. If firms want to sell more they must produce more. Productive capacity must also grow, growth is therefore more balanced. If market or product is ‘mature’and has little growth potential firms might have to diversify into new areas. Growth can occur because of amalgamation, merger and takeover. Managers can neverignore their shareholders; they must keep them on board. This will only occur if shareholders believe there is increasing value for them in this growth.We know TC(total cost)=FC(fixed cost)+VC(variable cost). Venture capital is fixed, so the only factor is the FC. In another aspect, a mobile phone is more variable cost curve will be more sudden. For the AMC(marginal cost) and AC(average cost) curve, short-term average cost curve is determined by the law diminishing marginal returns. The average curve increased and then decreased after. Virgin Mobile is part of the repaid development. This is a new first as an oligopoly market. Its share to seep curve is also a trend MC curve is similar to the U curve, which means more of the cost of commodity production.。
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enterprise
Injections and withdraws
• Know definitions, examples, and influence on the circular flow of income.
• There are 3 sets of injections and withdrawals which can alter the circular flow of income in an economy.
• For example, households deposit money into banks or other financial institutions, or just retain money in treasuries.
• If a country saves too much of its income this is withdrawn from the circular flow and the flow will decrease. This means that less income circulates and economic activity is reduced.
Government Spending (G) and Taxation (T)
• Government taxes both the household and business, so that taxes (T) are withdraw. • Example: direct tax (income tax) and indirect tax (sales taxes). In detail, value added tax (VAT),
• More investment means that more production and more employment, and more income circulate and thus economic activity is increased.
Saving
• In economics, personal saving has been defined as personal disposable income minus personal consumption expenditure.
Capital gains tax, Corporation tax, Environment Affecting Tax, Inheritance tax, Property tax, etc. • Increasing taxes will decrease disposable income, thus less income circulates and economic
• Example: • This the circular flow and creates more economic activity in the
Exports (E) and Imports (M)
• Exports: goods and services are produced in one country and sold abroad. The payment for them will return to the firms in this country. Thus, it is an injection.
investment in roads, hospitals, housing, investment in nationalised industries, and the Welfare State, pensions, unemployment benefits and other transfer payments (TP). • Increasing investment and spending by government will increase employment and production, thus more income circulates and economic activity will be increased.
• Injection (J) is money entering the flow. Injections include Investment, government spending and Exports.
• Withdrawal (W) is money leaving the flow. Withdrawals include saving, taxation and imports.
activity is reduced. • The government purchases goods and services from the business, and gives transfer payments,
so that government spending (G) is injection. • (G) includes: investment directly into the economy in the form of grants, business allowances,
Investment
• In economics, investment is buying and producing capital goods which are not consumed but are to be used for future production.
• Examples include tangibles (such as building a railroad or factory) and intangibles (such as a year of schooling or on-the-job training), etc.