Ib Economics Commentary 1 - Microeconomics Essay - 807 Words

Commentary #1 Syllabus Section: Section 1: Microeconomics Word Count: 749 Date commentary was written: October 26, 2012 Date article was published: May 20, 2012 Rebecca Bundhun, (October 19, 2012) Cost of summer getaways hit as air ticket prices rise, The National, http://www.thenational.ae/thenationalconversation/industry-insights/tourism/cost-of-summer-getaways-hit-as-air-ticket-prices-rise The cost of an airline ticket can fluctuate tremendously based on a number of factors. The goal of airlines is to maximize their capacity by having the greatest number of passengers on all trips. This may however be difficult, as airlines pricing is not only dictated by their own operating costs and profit margins required but they have to†¦show more content†¦Although prices tend to be set by supply and demand, they are also exposed to externalities. An externality occurs when the actions of consumers or producers give rise to positive or negative side effects on other people, who are not part of these actions and whose interests are not taken into consideration. A perfect example of a negative externality is the rise of jet fuel. As a barrel of oil rises, the price of jet fuel also rises and consequently the price of an airline ticket also rises. Externalities can create a positive or negative demand or effect on a product or service. Price elasticity of demand is a term that helps us understand the measure of the responsiveness of the quantity demanded to changes in price. In general, if there is a large responsiveness of the quantity demanded, the demand is referred to as being elastic, if there is a small responsiveness, demand is inelastic. Airlines take advantage of the existence of inelasticity. Mr. D’Souza states in the article, â€Å"People are still flying. People traditionally plan these breaks, and regardless of the price, they fly. The demand is very, very high.† On the contrary, airlines understand price elasticity and use this well. They know that fare prices can be considered both elastic and inelastic based on the circumstance the traveler finds themselves in. Airlines study their client base, theirShow MoreRelatedEconomics IA: Microeconomics Commentary on Heathrow Slams Price Cap Put On Airline Fees Word count:700 Words   |  3 PagesEconomics IA: Microeconomics Commentary on Heathrow Slams Price Cap Put On Airline Fees Word count: 746 Michael Lee The article is about the government trying to control price of airlines of Heathrow Airport. CAA has set a price cap on the fee Heathrow Airport charges the airline firms, wishing that this will lead to lower price in the flights for consumers. Maximum price, also referred as price ceiling, is usually set by government to limit the seller pricing system to ensure a fair and reasonableRead MoreIb Economics Notes Grade 113816 Words   |  16 Pagessame rate as P. If %∆Plt;%∆Q, this good is called relatively elastic. If %∆Pgt;%∆Q, this good is called relatively inelastic. If %∆P=%∆Q, this good is called unit elastic. Determinants of the PED -gt;Things that tell us what the PED is originally. 1) availability of substitutes –the more substitutes a good has, the easier it is for consumers to switch products if the price changes EX: if one brand of T-shirt is more expensive, choose another brand. In other words, for T-shirts, a relatively smallRead MorePMCN Case Study3324 Words   |  14 PagesThe theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique for thinking, which helps the possessor to draw correct conclusions. The ideas of economists and politicians, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual

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What does the network layer do? Where does it sit in relationship to the other four layers of our simplified network model? Network layer is the third layer of the OSI model. It performs switching and  routing by creating logical paths, known as  virtual circuits, for transferring data from  one node to another node. Routing and forwarding are the major functions of this layer. We will write a custom essay sample on Business Related Articles or any similar topic only for you Order Now It also performs other operations such as  addressing, internetworking, error handling,  congestion,  control and packet sequencing. It maintains the quality of service requested by the transportation layer. It determines how data are transferred between network devices. It Routes packets according to unique network device addresses and Provides flow and congestion control to prevent network resource depletion. The network layer provides the functional and procedural means of transferring variable length  data sequences from a source to a destination host via one or more networks while maintaining the  quality of service  and  error control functions. At this layer, the computer system engages in a dialogue with the network to specify the destination address and to request certain network facilities, such as priority   Network Layer consists of three sub layers: Sub network Access: This layer considers protocols that deal with the interface to networks, such as X. 25. Sub network Dependent Convergence: This layer is necessary to bring the level of a transit network up to the level of networks on either side. Sub network Independent Convergence: It handles transfer across multiple networks. The major Functions of the network layer are: Routing: The most outstanding function of network layer is routing which includes Moving data across a series of interconnected networks the network layer. At the network layer, the devices and software routines handles incoming packets from various sources, determines their final destination, and then transfers the data to their destination. Logical Addressing: Every communication device in a network of an logical address, which is also called as â€Å"layer three address†. The  Internet Protocol (IP) is the network layer protocol which is the best known example of network layer and every machine consists of its own IP address. It manages the connectionless transfer of data one hop at a time, from end system to ingress router, to router to router, and from egress router to destination end system. It is not responsible for reliable delivery to a next hop, but only for the detection of eroded packets so they may be removed. Connection model: The OSI Network Layer protocol can be either connection-oriented, or connectionless. In general, the  TCP/IP Internet Layer supports only the connectionless Internet Protocol (IP). Message forwarding: This is the most important function of network layer. Since many networks are partitioned into sub networks and connect to other networks for wide-area communications, networks use specialized hosts, called gateways or  routers to forward packets between networks. Datagram Encapsulation: Network layer performs encapsulation of messages received from higher layers by placing them into  datagrams  which are also referred to as packets with a network layer header. Fragmentation and Reassembly: The major function of the network layer is transmitting messages down to the data link layer. Some data link layer technologies consist of certain limitations on the length of any message that can be sent. If the packet that the network layer wants to send is too large, the network layer has to fragment the packet before transmitting it to data link layer. It transmits each piece to the data link layer. The fragmented pieces are then reassembled once they arrive at the network layer on the destination machine. Handling and Diagnostics: At the network layer Special protocols are used to allow devices that are logically connected, or that are trying to route traffic, to exchange information about the status of hosts on the network or the devices themselves. How to cite Business Related Articles, Papers

Progress And Movement In America Essay Example For Students

Progress And Movement In America Essay Websters Collegiate Dictionary defines progress as to develop to a higher, better, or more advanced stage. In todays society, there are many views on the educational and economic progress of African Americans. They have encountered many stages during the civil rights movement such as Jim Crow Laws; and are now entrepreneurs; middle-class Americans, and some attend college. Despite this, presently, African American achievement has not been as significant since. The question at hand is that in modern times, is it progress or just purely movement? (Morrison) The Civil Rights Movement was a political, legal, and social struggle to gain full citizenship rights for black Americans and to achieve racial equality. The civil rights movement was first and foremost a challenge to segregation, the system of laws and customs separating blacks and whites that whites used to control blacks after slavery was abolished in the 1860s. During the civil rights movement, individuals and civil rights organizations challenged segregation and discrimination with a variety of activities, including protest marches, boycotts, and refusal to abide by segregation laws. Many believe that the movement began with the Montgomery bus boycott in 1955 and ended with the Voting Rights Act of 1965, though there is debate about when it began and whether it has ended yet. The civil rights movement has also been called the Black Freedom Movement, the Negro Revolution, and the Second Reconstruction. (Encarta) Generally put, it was an effort to ensure African American entry into the White Society. Some of the most important goals of African American leaders during the civil rights movement were to gain voting rights, and to gain the right to be able to go to any institution they so chose without being denied service. Dr. Martin Luther King Jr., President of the Southern Christian Leadership Conference, felt that black people could prosper economically and educationally in the White Mans World if allowed the same opportunities as White Americans. Through events such as the Montgomery Bus Boycott, the march from Selma, Alabama to Montgomery and the Woolworth Student Sit-In, African American rights has been almost totally acquired in modern times. Since the Civil War, much of the concern over civil rights in the United States has focused on efforts to extend said rights fully to African Americans. The first legislative attempts to assure African Americans an equal political and legal status were the Civil Rights Acts of 1866, 1870, 1871, and 1875. Those acts gave African Americans such freedoms as the right to sue and be sued, to give evidence, and to hold real and personal property. The 1866 act was not active, and was reenacted in 1870 only after the passage of the Fourteenth Amendment. The fourth Civil Rights Act attempted to guarantee to the African Americans those social rights that were still withheld. It penalized innkeepers, proprietors of public establishments, and owners of public conveyances for discriminating against African Americans in accommodations, but was invalidated by the Supreme Court in 1883 on the ground that these were not properly civil rights and hence not a field for federal legislation. The 20th-century struggle to expand civil rights for African Americans has involved the National Association for the Advancement of Colored People, the Congress of Racial Equality, the Urban League, the Southern Christian Leadership Conference, and others. Another struggle now is that the Voting Rights Act of 1965 is indeed an act; not law. African Americans must indeed struggle to keep this right in the future. However, the 20th-century generation is lazy because a lot has been accomplished for us, and now we simply take a back seat for it all. Other views on this represent that African Americans now focus on accomplishing the miniscule things in life like fixing up the ride with dubs and a system. (Barnor) African Americans have achieved a lot since the Civil War. Unfortunately, the progress can be compared to an S curve, or a Learning Curve. At first, acceptance is slow. Fahrenheit 451 compared to the movie The Power of Essay It is then tested to make modifications. After a period, critical growth occurs; until the mature stage, where it is essential and mainstream. Has African American progress reached its mature stage? .