Thursday, August 27, 2020
Jealousy The Oxford meaning of jealousy is an inclination of disappointed or angry yearning stirred by anotherÃ¢â¬â¢s better fortune (Allen 392). The focal point of the seven destructive sins depends on strict idea. Jealousy is characterized strictly asÃ¢â¬ thou will not covet.Ã¢â¬ According to the Roman Catholic drills envy is viewed as a Ã¢â¬Å"venialÃ¢â¬ sin, yet it would should be admitted. Along these lines, if an individual submits a permissible sin and doesn't admit, one would need to invest energy in limbo before entering paradise (Matusiak). Kevin J. Rice expresses that the Methodist position that jealousy is a feeling and that it is the inclination of joy that an individual has. In like manner the individual doesn't begrudge an article however begrudges the individuals who utilize the item. One occasion would be,Ã¢â¬ I am not desirous of a Corvette; I am jealous of an individual who claims a Corvette since I might want the feelings of happiness, force, and speed that a ccompany driving itÃ¢â¬ (Rice). Dissecting the word inception, the term envy is the Latin word invidere, which intended to take a gander at suspiciously or to see with noxiousness. The Latin root word originates from the Greek, eidos, which means structure or thought (Iyer). In the twentieth century Sigmund Freud, the organizer of psychoanalytical hypothesis, characterized envy as a significant trait of passionate trouble. His exemplary model is the Electra hypothesis where more youthful young ladies begrudged the male penis and therefore felt deficient all through their lifetime. FreudÃ¢â¬â¢s position depended on Judaic idea and the way of life of his time in the nineteenth century Austria (Sigmund). All through written history are numerous frequencies of gatherings, religions, and countries who begrudge one another. Spain in the sixteenth century was most likely the most extravagant of the European countries after they plundered the Americans of billions in gold. They were continually at war, their boats were looted, and their fortunes were dissipated to the Holy Roman Empire (Zevin 367). As of now, the less fortunate Muslim ... Free Essays on Envy Free Essays on Envy Jealousy The Oxford meaning of jealousy is an inclination of disappointed or angry aching excited by anotherÃ¢â¬â¢s better fortune (Allen 392). The focal point of the seven dangerous sins depends on strict idea. Jealousy is characterized strictly asÃ¢â¬ thou will not covet.Ã¢â¬ According to the Roman Catholic questionings envy is viewed as a Ã¢â¬Å"venialÃ¢â¬ sin, however it would should be admitted. Accordingly, if an individual submits an excusable sin and doesn't admit, one would need to invest energy in limbo before entering paradise (Matusiak). Kevin J. Rice expresses that the Methodist position that jealousy is a feeling and that it is the inclination of happiness that an individual has. As needs be the individual doesn't begrudge an article yet begrudges the individuals who utilize the item. One example would be,Ã¢â¬ I am not jealous of a Corvette; I am desirous of an individual who possesses a Corvette since I might want the feelings of happiness, force, and speed that a ccompany driving itÃ¢â¬ (Rice). Examining the word starting point, the term envy is the Latin word invidere, which intended to take a gander at suspiciously or to see with vindictiveness. The Latin root word originates from the Greek, eidos, which means structure or thought (Iyer). In the twentieth century Sigmund Freud, the organizer of psychoanalytical hypothesis, characterized envy as a significant attribute of enthusiastic pain. His great model is the Electra hypothesis wherein more youthful young ladies begrudged the male penis and along these lines felt insufficient all through their lifetime. FreudÃ¢â¬â¢s position depended on Judaic idea and the way of life of his time in the nineteenth century Austria (Sigmund). All through written history are numerous rates of gatherings, religions, and countries who begrudge one another. Spain in the sixteenth century was likely the most extravagant of the European countries after they plundered the Americans of billions in gold. They were continually at war, their boats were ravaged, and their fortunes were dispersed to the Holy Roman Empire (Zevin 367). At present, the less fortunate Muslim ...
Saturday, August 22, 2020
Mao Zedong Essay Mao Sedona BY Ceaselessly Mao Sedona was the Leader of the Communist Party of China from 1893-1976. He was a key figure exposed war, which brought about a huge number of passings for the Chinese Republic. This merciless tyrant did whatever he could to keep his capacity. He did numerous shocking things one significant issue was his position on the Cultural Revolution. This force battle could have gone to ways: no brutality or viciousness. Sedona decided to emphatically bolster the power of savagery.. Only he can be at fault for of 70 million passings which is more that both Hitler and Stalin. Numerous ruthless accounts of his activities despite everything frequents individuals. One such story was that individuals use to lie about how much food and great they could gracefully with the goal that they could live in to some degree flourishing. In spite of the fact that the narratives deteriorate than this, there Is consistently the discussion in the event that he was a positive or negative figure in our history. This contention has changed a lot to do with pubic undertakings. As the Republic of Chinas devotion has moved and changed from ruler to ruler so to the adjustment by they way they feel about the circumstance. This contention appears to be extremely insignificant thinking about that he was mindful or the demise of such a large number of his own kin yet is It conceivable that these passings had the option to make China as solid as It is today? We will compose a custom exposition test on Mao Zedong explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Mao Zedong explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on Mao Zedong explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer
Friday, August 21, 2020
How to Polish Your Essay When your draft is complete, all you can think about is finishing your work as quickly as possible, right? But there is so much left to do! Well, with the help of our tips, you can polish and finalize your paper without spending too much time. How? Read this article! 1. Have a Little Break When working on your assignment for a long time, its easy to become tired and heedless. Its not surprising, as your brain is overloaded with all the wording, creativity, and analysis. Its hard to switch to another task, so your brain needs some time to rest. Even if you dont have much time, a five-minute break will work. Watch a video, listen to music, have a snack, etc. Meanwhile, your brain will have a little time to relax too. After that, you will see that its easier to continue working on your essay. Check out what other tricks on how to become a more productive student we were writing about. 2. Check if Your Paper Meets the Requirements This step is not only about checking the word count (although you should) but also other qualities of your essay. For example, check the assignment to find out if you did everything that was required. Did you answer the question posed? Did you explain, analyze, or compare what you were supposed to? Then, check the word count and formatting guides (we also have a great article about differnet citation styles that you might find very helpful). These requirements are crucial to meet in order to get a high grade, as these are the first things that your professor or teacher will pay attention to. Not meeting them can badly affect your grade even if the content of your essay is pretty good. 3. Pay Attention to the Style and Content Quality Even if you have reached the minimum word count (check the article on how to lengthen your essay if you havent), it doesnt mean that the content of your essay is good enough. Read through your text and pay attention to the structure of your sentences and paragraphs. Edit sentences that seem unclear or have any style errors. For example, there are general rules applied to any academic work, such as: Using the active voice instead of passive Avoiding slang, contractions, and exaggerations Avoiding repetition and complicated wording Explaining terms used in your essay Keeping the number of quotes used reasonable Using transitions between paragraphs to avoid making sharp jumps Avoiding facts and data that dont have a reliable source. Reread your text several times to make sure you have covered all the facts that you intended and created a logical flow that leads your reader through the topic. There should be no sharp edges that one can usually see in the works that have a bad structure. In such a case, the author jumps from one fact or subtopic to another, sometimes coming back and repeating themselves. Make sure to elaborate your thoughts in an easy-to-understand manner and use transition sentences when moving from one paragraph to another. Also: Check if your essay has words like bad, good, etc. Itâs better to replace them will less widespread and banal words. You can use online synonym tools like Thesaurus to pick the most suitable words for your piece. Avoid using too complicated and fancy words as they usually dont add any value to your essay and may make you look less creative and genuine. Make sure you keep your work easy to read â" say no to complicated constructions and long sentences because they make it easier to miss a punctuation error and harder to follow your point. If you see that the content and style look fine, you can take the next step. 4. Check the Grammar Flawless grammar is essential in order to get a high grade. Even if you conduct in-depth research and put much time into the analysis, poor grammar can ruin all your effort. First of all, you can use the grammar checker that is embedded in your word processor. Of course, its not totally reliable, as it may not recognize errors due to its inability to work with the context in which the words are used. It might also miss typos or commas. The next level of check is to put your essay through a grammar checker like Grammarly. They are highly popular and develop each year to let you check the flow and clarity of your pieces as well as grammar and punctuation. It is more context-oriented, so it will let you know about the mistakes that your software has missed. The last step would be to run your essay through the plagiarism-checking software. Even if you didnt copy any part of your text from other sources, your piece might contain similar parts to already existing pieces. Of course, your professor or teacher will not always check your essay for plagiarism, but its always good to be confident about the quality of your work. If you want your essay to be checked by the team of real professionals, just send us your request. We can do editing, proofreading, and plagiarism checking just as well as we write essays from scratch.
Monday, May 25, 2020
As the new VP of Marketing at Clipboard Tablet Co., it is my duty to both analyze the results of the previous VP, and offer my own analysis on product performance for the X5, X6, and X7 tablets. Specifically, I will focus on the products themselves, their life cycles, and how they stack up in terms of price and performance. A financial review of each product will be undertaken as well, focusing on sales, costs, profitability, prices, and unit margins. I will then conduct a market review which will cover subjects ranging from new sales, previous sales, and market saturation. Finally, I will propose an alternate strategy, specifically in terms of pricing and RD allocations. Initial observations indicate the previous VP of Marketing,Ã¢â¬ ¦show more contentÃ¢â¬ ¦Just as with other products like Apple or even Lamborghini, in the eyes of the consumer expensive means exclusive and therefore Ã¢â¬Ëcool.Ã¢â¬â¢ Yet another way we can cut costs for the X6, and this was already alluded to, is to reduce RD significantly. I propose it be moved down to 15%. This will account for some software and potential hardware upgrades that will be anticipated since the product has only been at market for two years. The X7 deserves the most attention however. First, such a new product deserves much more RD allocated to it. Therefore, I propose the remaining 75% of our RD budget be focused on the construction of the X7 to its fullest degree. Market research indicates customers care about both price and performance with this model, and we therefore must focus our efforts to that cause. Especially considering financial and marketing info shows the X7 has gotten off to such a slow start. Initial sales are somewhat healthy for a new product, 165,586; but total costs have yet to be turned into real profit (down -73%). And though we will see costs rise with more RD resources dedicated to getting the X7 off the ground and competitive, I believe these will be sunk costs as profits will reflect the quality nature of the product. I would expect to see the X7 perform just as well or even better than the X5. This is evidenced by the greatShow MoreRelatedA Review On Strategic Processes1302 Words Ã | Ã 6 Pagesprodigious decisions primarily categorize as strategic with their formulation amalgamations of art, science and a smattering of other intangible elements. Undoubtedly, they ought to warrant extraordinary care and thorough investigation going forward, including possible exit strategies. However, time and again, the human equation proves otherwise and omits that which seems so indispensable in the inexorable drive for an expeditious remedy. And although strategic decisions customarily associate with organizationalRead MorePetrobras - Strategic Review2653 Words Ã |Ã 11 PagesPetrobras: Strategic Review Table of Contents 1.0 Introduction 2 2.0 Macro Market Analysis 2 2.1 PESTEL 2.2 Porters Five Forces 3.0 Micro Market Analysis 6 3.1 GE McKinley Matrix 3.2 Competitor Analysis 4.0 Recommendations 8 5.0 Conclusions 9 6.0 References 10 List of Figures Figure 1: Porters 5 Forces Analysis of Petrobras 5 Figure 2: GE Matrix 6 Figure 3: Oil Production and Consumption 7 1.0 Introduction Read MoreHasbro Strategic Review4361 Words Ã |Ã 18 Pagesrecreation industry. This industry consists of companies involved in the design, manufacturing and marketing of a wide variety of products such as video games, movies, music, sports, and television as well as toys and games. Hasbro competes in a strategic group within the consumer recreation industry that consists of highly competitive companies involved in the design, manufacturing, and marketing of games and toys. The toy and game industry which consists of large competitors Mattel, JAKKS PacificRead MoreLiterature Review of Strategic Management8039 Words Ã |Ã 33 Pages Literature Review on Strategic Management with Emphasis on PorterÃ¢â¬â¢s Theories as Applied in Current Decision Making Abstract This review provides an overview of a few of the key topics that have defined the strategic management field since the later twentieth century. Strategic planning, strategic planning frameworks and strategy implementation issues are discussed both from a historical and modern perspective. Michael PorterÃ¢â¬â¢s frameworks and generic strategy provide an excellentRead MoreStrategic Review - Singapore Airlines1961 Words Ã |Ã 8 PagesSingapore Airlines Global Strategy 3. Mission and value of SIA III. Strategic analysis of the organization and its environment 1. PEST analysis 2. Strategic Capabilities 3. Strategic SWOT analysis IV. Future strategic aspects for SIA 1. Recommendation 2. Conclusion References Summary: In this report I examine the history of Singapore AirlinesÃ¢â¬â¢ the report will then including the corporate strategy, strategic choice and analysis of the companyÃ¢â¬â¢s external environment political, economicRead MoreReview the Issues Involved in Strategic Planning1830 Words Ã |Ã 8 PagesQuestion: 1.2, Review the issues involved in strategic planning (((The Author Paul Stuart Kregor is a Director of the MSI Consultancy Ltd Article originally publised in Pharmaceutical Marketing, June 2007))) Every year at about this time or a little earlier, we start the process of Ã¢â¬ËstrategicÃ¢â¬â¢ planning. The annual planning process, for all its focus on analysis, or template completion, can easily fall into the apparently comfortable tactic of merely updating the activity from last yearÃ¢â¬â¢s plansRead MoreStrategic Management and Harvard Business Review2940 Words Ã |Ã 12 PagesStrategic Management and Leadership SM0374 Your Undergraduate Programme Learning Goals At the end of your programme of study you will be: 1. Knowledgeable about the theory and practice of international business management 2. Skilful in the use of professional and managerial techniques and processes 3. Aware of ethical issues impacting on business and professional practice 4. Employable as graduates All of the learning that takes place within modules is designed to enable youRead MoreA Critical Review of The Fall and Rise of Strategic Planning2486 Words Ã |Ã 10 Pagesestablishing innovative strategic design to cope with these challenges. (Hahn et al, 2010). This is not a new idea, in fact, in 2009, Guerrera challenged Michael PorterÃ¢â¬â¢s underlying premise that businesses are there to make money while Figge and Hahn (2008) go as far as to accuse such strategies of Ã¢â¬ËaggravatingÃ¢â¬â¢ the current economic situation. Henry MintzbergÃ¢â¬â¢s assessment of strategic planning can be associated with WhittingtonÃ¢â¬â¢s Processual school of strategy (2002). This literature review places the articleRead MoreStrategic Information Systems Planning (Literature Review)8531 Words Ã |Ã 35 PagesLiterature Review on Strategic Information Systems Planning Contents 1. Introduction 2. Evolution of SISP 3. Stages of SISP 3.1 Inverted U- curve: Law of diminishing returns 3.2 Optimization of planning process 4. Factors influencing decision-making 4.1 Environmental factors 4.1.1 SISP Performance in an uncertain environment 4.1.2 Environmental assessment in strategic information systems planning 188.8.131.52 Hypotheses Testing 4.1.3 UncertaintyRead MoreStrategic Human Resources Management: a Review of the Literature and a Proposed Typology10855 Words Ã |Ã 44 PagesStrategic Human Resources Management: A Review of the Literature and a Proposed Typology Cynthia A. Lengnick-Hall; Mark L. Lengnick-Hall The Academy of Management Review, Vol. 13, No. 3. (Jul., 1988), pp. 454-470. Stable URL: http://links.jstor.org/sici?sici=0363-7425%28198807%2913%3A3%3C454%3ASHRMAR%3E2.0.CO%3B2-0 The Academy of Management Review is currently published by Academy of Management. Your use of the JSTOR archive indicates your acceptance of JSTORs Terms and Conditions of Use, available
Thursday, May 14, 2020
In semantics and pragmatics, meaning is the message conveyed by words, sentences, and symbols in a context. Also calledÃ lexical meaning or semantic meaning. In The Evolution of Language (2010), W. Tecumseh Fitch points out that semantics is the branch of language study that consistently rubs shoulders with philosophy. This is because the study of meaning raises a host of deep problems that are the traditional stomping grounds for philosophers. Here are more examples of meaning from other writers on the subject: Word Meanings Word meanings are like stretchy pullovers, whose outline contour is visible, but whose detailed shape varies with use: The proper meaning of a word . . . is never something upon which the word sits like a gull on a stone; it is something over which the word hovers like a gull over a ships stern, noted one literary critic.(Jean Aitchison, The Language Web: The Power and Problem of Words. Cambridge University Press, 1997) Meaning in Sentences It may justly be urged that, properly speaking, what alone has meaning is a sentence. Of course, we can speak quite properly of, for example, looking up the meaning of a word in a dictionary. Nevertheless, it appears that the sense in which a word or phrase has a meaning is derivative from the sense in which a sentence has a meaning: to say a word or phrase has a meaning is to say that there are sentences in which it occurs which have meanings; and to know the meaning which the word or phrase has, is to know the meanings of sentences in which it occurs. All the dictionary can do when we look up the meaning of a word is to suggest aids to the understanding of sentences in which it occurs. Hence it appears correct to say that what has meaning in the primary sense is the sentence. (John L. Austin, The Meaning of a Word. Philosophical Papers, 3rd ed., edited by J. O. Urmson and G. J. Warnock. Oxford University Press, 1990) Different Kinds of Meaning for Different Kinds of Words There cant be a single answer to the question Are meanings in the world or in the head? because the division of labor between sense and reference is very different for different kinds of words. With a word like this or that, the sense by itself is useless in picking out the referent; it all depends on what is in the environs at the time and place that a person utters it. . . . Linguists call them deictic terms . . .. Other examples are here, there, you, me, now, and then. At the other extreme are words that refer to whatever we say they mean when we stipulate their meanings in a system of rules. At least in theory, you dont have to go out into the world with your eyes peeled to know what a touchdown is, or a member of parliament, or a dollar, or an American citizen, or GO in Monopoly, because their meaning is laid down exactly by the rules and regulations of a game or system. These are sometimes called nominal kinds--kinds of things that are picked out only by how we decide to name t hem. (Steven Pinker, The Stuff of Thought. Viking, 2007) Two Types of Meaning: Semantic and Pragmatic It has been generally assumed that we have to understand two types of meaning to understand what the speaker means by uttering a sentence. . . . A sentence expresses a more or less complete propositional content, which is semantic meaning, and extra pragmatic meaning comes from a particular context in which the sentence is uttered. (Etsuko Oishi, Semantic Meaning and Four Types of Speech Act. Perspectives on Dialogue in the New Millennium, ed. P. KÃ ¼hnlein et al. John Benjamins, 2003) Pronunciation: ME-ning Etymology From the Old English, to tell of
Wednesday, May 6, 2020
The general definition of psychology states that psychology is the study of human behavior, not the study of groups of humans (that is better coved by sociology and anthropology). Now, organizational psychology is the study of human behavior in an organizational context. There is one problem with that; an organization isnÃ¢â¬â¢t a single person, an organization is composed of multiple people. By definition organizational psychology is not actually psychology because it does not focus on the individual in an organizational context. To quote a great man, Ã¢â¬Å"my science does not give a shit about peopleÃ¢â¬ ¦were ruthlessÃ¢â¬ Ã¢â¬âSteven Toaddy. Organizational psychologists attempt to apply psychological principles, which are researched at an individual level, to organizations, which are not individual level. So to answer the question, is it worth studying, no, it is not worth studying. The realm of sociology, anthropology, and economics can cover studying groups, organizations, and organizational actions and behaviors there is no room for a science in an organizational context that studies the behaviors of individuals. Staw (1991) proposes several different counter arguments against the aforementioned claims, but that will be better covered in the next answer. Instead I would like to discuss how autonomy plays into this whole matter. Staw proposes that a single person may represent the org. This was his argument for how macro behavior is actually micro behavior. This is often countered arguedShow MoreRelatedThree Disciplines1097 Words Ã |Ã 5 Pagessome ways, but if I had to choose between anthropology, psychology, and sociology, I would have to choose psychology. The reasoning behind it will be explained in detail but it can be broken down to three main reasons; being the first discipline with verified results and facts rather than unproven theories, having more post-high school opportunities considering that I wish to pursue a career in business, and being the most in-depth discipline. Psychology has more quantitative information, more interestingRead MoreAsdfghjkl894 Words Ã |Ã 4 PagesSoci ology Research Area * * Aging and the Life Course * Alcohol and Substance Abuse * Asia amp; Asian America * Collective Behavior and Social Movements * Community and Urban Sociology * Comparative and Historical Sociology * Sociology and Computers * Crime, Law amp; Deviance * Economic Sociology * Environment amp; Technology * Family amp; Marriage * History of Sociology * International Migration * Latino/aRead MoreWhat is Psychology?925 Words Ã |Ã 4 PagesIn 1929, psychology was defined as the study of consciousness. From about 1930 to1970, the definition of psychology changed with dealing more with the scientific study of behavior. From about 1970 on, psychology was defined as the scientific study of behavior and mental processes. However, according to nowadays definition of psychology, it could be defined as the study of the behavior and human mind. Factors which influencing our behavior include physical, emotions, thoughts and social. It can helpRead MoreThe Between Mccutcheon, Marx, And Nietzsche s Theories On Religion921 Words Ã |Ã 4 Pagesand Ã¢â¬Å"religiousÃ¢â¬ should not be used by scholars when referring to the study of religion. McCutcheon even suggests these words should be abandoned and removed from our vocabulary all together. He claims studying social sciences like anthropology, sociology, and psychology and using appropriate terminology will lea d to a more accurate understanding of why we as humans are religious and how our religion ultimately affects our behaviors. Feuerbach, Marx, and Nietzsche all suspect the study of religionRead MoreOrganizational Behaviour1633 Words Ã |Ã 7 Pagesand groups within organizations and the interaction between organizations and their external environment. It constitutes a behavioural science field of study that borrows its core concepts from other disciplines, principally psychology, sociology, social psychology, anthropology and political science (Coffey, Cole and Hunsaker, 1996). The Goals of Organizational Behaviour For organizations to be effective (doing the right things) and efficient (doing things right), those persons (managers) chargedRead MoreTheoretical Frameworks Of Sociology And Sociological Perspective Essay918 Words Ã |Ã 4 Pages What does Sociology have to do with me? Why do people think or act differently than you? Why are some people rich while others are poor? Why do some commit crimes, break laws and others do not? These are all some of the questions students need an answer to, which led them to enrol to this course. Ã¢â¬Å"Sociology is the scientific study of individuals in groups, organizations, cultures and societies; and of the interrelationships of individuals, group, organizations, cultures and societies.Ã¢â¬ (KennedyRead MoreEssay on Sociology and Social Sciences1144 Words Ã |Ã 5 Pagesthis assignment by the due date to receive full credit. (7 points) 1. Rank the seven social sciences (anthropology, economics, geography, history, political science, psychology, and sociology) according to what you believe is their importance and influence on the people in a modern society. Answer: 1.Psychology (How humans think influences most, if not all of the social sciences.)Ã 2.Sociology (This helps figure out how society thinks. If you understand how society thinks, you can improve itRead MorePhilosophy, Phenomenology And Comparative Approachs851 Words Ã |Ã 4 Pagescultures and things of that nature. Lastly there is the philosophy, phenomenology and comparative approachs. The psychological approach to religion allows us to examine the individual. The psychology of religion is to understand the personal religious experience. William James who many deem the father of the psychology of religion field. William James had identified two types of individuals for this field. One was what he called the Ã¢â¬Å"healthy mindedÃ¢â¬ . The healthy minded individuals ignored evil and onlyRead MoreBusiness Failure Ldr/531985 Words Ã |Ã 4 Pagesorganizational behavior are built on are psychology, social psychology, sociology and anthropology. According to Robbins and Judge (2009) , psychology seeks to explain changes in behavior in humans for example, impacts on learning, emotions, leadership, and decision making principles in an organization. Social psychology examines peopleÃ¢â¬â¢s influences on each other, attitudes, communication patterns, building trust, group behavior, power and conflict. Sociology focuses on the behavior of groups withinRead MoreSocio logy and its relation with other social sciences2367 Words Ã |Ã 10 PagesSciences concern peopleÃ¢â¬â¢s relationship and interactions with one another. Sociology can be defined as the science that deals with human relationship. It is the study of how human beings relate with each other, how each individual relationship has been influenced by other people and patterns which are formed out of their interactive relationships. Sociology emphasizes group relationships and total social environment. Sociology studies human behaviour in a different way from other academic approaches
Tuesday, May 5, 2020
Questions: 1.As a producer, why is it important to Consider the Price Elasticity of Demand of your Product when setting the price you are going to Charge? with graph. 2.Explain the difference between Comparative Advantage an Absolute Advantage. Answers: 1.Price elasticity of demand refers to the rate of change in demand of the products with the change in their prices. In the determination of the pricing strategies for the products, it plays an important role (Hinterhuber Liozu, 2012). Producers have to first identify the rate pattern of elasticity of the product to determine the price. If it is being seen that the rate of change in the demand of the product is much lower than the rate of change in price, then it is termed as inelastic demand (Havranek, Irsova Janda, 2012). In that case, producers can price their products as their wish due to the reason that it will not influence the consumer buying behavior. Figure: 1. In-elastic demand curve In the above figure, it is shown that with the change in the price of the product from 70 to 100, the demand changed only 220 to 200. Thus, rate of change in demand is less than the change in price (Pierce Shoup, 2013). Necessities products tends to have inelastic demand due to the reason that consumers will buy it by necessity provided what the price is (Chongela, Nandala Korabandi, 2014). Thus, producers will have more influence in determining the pricing strategies. Figure: 2. Elastic demand curve In the above graph, it is shown that when the price of the product is changing from p1 to p2, then the quantity demanded changing from q1 to q2. Thus, the rate of change in the demand is more than the change in the price. This is termed as elastic demand. In this case, producers have to consider the market price of the product o determine their pricing strategies. It is due to the reason that, if they increase the price of product then the rate of reduction in demand will be more. On the other hand, if they decrease the price, competitors will also decrease the price. Thus, there will be universal market oriented price. 2.Comparative advantages refer to the advantage of producing goods with having lower opportunity cost than others (Levchenko Zhang, 2016). On the other hand, absolute advantages refer to the advantages of producing more products in having fewer resources than others (Schumacher, 2012). Thus, a country having absolute disadvantage over another means they can produce goods on their own but the productivity will be low than the country having absolute advantage. However, in the case of comparative advantage, country having disadvantage will find more profit in importing the products than producing it by own. This is due to the reason that the opportunity cost of producing the product will be more than cost of importing. Corn wheat Country A 5 15 Country B 6 2 Table: 1. Absolute vs. Comparative advantage Figure: 3. Absolute vs. Comparative advantage In the above figure, it is shown that country A is having absolute disadvantage over country B in terms of production of corn. It is due to the reason that it is producing marginally less amount of corn than country B. However, the difference is less and they can produce it by their own rather than importing it. On the other hand, country A is having comparative advantage over country B in terms of production of wheat. It is due to the reason that, the rate of production of wheat between the two countries is much more. Thus, it will be profitable for the country B to import the wheat from country A, rather than producing by own (Mankiw, 2014). This is due to the reason that, the opportunity cost of producing the wheat by country B will be more than the cost of importing. References Chongela, J., Nandala, V., Korabandi, S. (2014). Consumer demand system of agri-food in Tanzania. Journal of Development and Agricultural Economics, 6(1), 42-48. Havranek, T., Irsova, Z., Janda, K. (2012). Demand for gasoline is more price-inelastic than commonly thought. Energy Economics, 34(1), 201-207. Hinterhuber, A., Liozu, S. (2012). Is it time to rethink your pricing strategy?. MIT Sloan Management Review, 53(4), 69. Levchenko, A. A., Zhang, J. (2016). The evolution of comparative advantage: Measurement and welfare implications. Journal of Monetary Economics, 78, 96-111. Mankiw, N. G. (2014). Principles of macroeconomics. Cengage Learning. Pierce, G., Shoup, D. (2013). Getting the prices right: an evaluation of pricing parking by demand in San Francisco. Journal of the American Planning Association, 79(1), 67-81. Schumacher, R. (2012). Adam Smith's theory of absolute advantage and the use of doxography in the history of economics. Erasmus Journal for Philosophy and Economics, 5(2), 54-80