Income Elasticity of Demand

A Beginners Guide to Elasticity: Price Elasticity of Demand  introduced the basic concept and illustrated it with a few examples of price elasticity of demand.   A Brief Review of Price Elasticity of Demand The formula for price elasticity of demand is:   Price Elasticity of Demand (PEoD) (% Change in Quantity Demanded) à ·Ã‚  (% Change in Price) The formula quantifies the demand for a given as the percentage change in the quantity of the good demanded divided by the percentage change in its price.   If the product, for example, is aspirin, which is widely available from many different manufacturers, a small change in one manufacturers price, lets say a 5 percent increase, might make a big difference in the demand for the product. Lets suppose that the decreased demand was a minus 20 percent, or -20%. Dividing the decreased demand (-20%) by the increased price (5 percent) gives a result of -4. The price elasticity of demand for aspirin is high -- a small difference in price produces a significant decrease in demand.   Generalizing the Formula You can generalize the formula by observing that it expresses the relationship between two variables, demand and price. A similar formula expresses another relationship, that between the demand for a given product  and consumer income Income Elasticity of Demand (% Change in Quantity Demanded)/(% Change in Income) In an economic recession, for example, U.S. household income might drop by 7 percent, but the household money spent on eating out might drop by 12 percent. In this case, the income elasticity of demand is calculated as 12 à · 7 or about 1.7. In other words, a moderate drop in income produces a greater drop in demand. In the same recession, on the other hand, we might discover that the 7 percent drop in household income produced only a 3 percent drop in baby formula sales. The calculation in this instance is 3 à · 7 or about 0.43.   what you can conclude from this is that eating out in restaurants is not an essential economic activity for U.S. households -- the elasticity of demand is 1.7, considerably great than 1.0 -- but that buying baby formula, with an income elasticity of demand of 0.43, is relatively essential and that demand will persist even when income drops.    Generalizing Income Elasticity of Demand Income elasticity of demand is used to see how sensitive the demand for a good is to an income change. The higher the income elasticity, the more sensitive demand for a good is to income changes. A very high-income elasticity suggests that when a consumers income goes up, consumers will buy a great deal more of that good and, conversely, that when income goes down consumers will cut back their purchases of that good to an even greater degree.   A very low price elasticity implies just the opposite, that changes in a consumers income have  little influence on demand. Often an assignment or a test will ask you the follow-up question Is the good a luxury good, a normal good, or an inferior good between the income range of $40,000 and $50,000? To answer that use the following rule of thumb: If IEoD 1 then the good is a Luxury Good and Income ElasticIf IEoD 1 and IEOD 0 then the good is a Normal Good and Income InelasticIf IEoD 0 then the good is an Inferior Good and Negative Income Inelastic The other side of the coin, of course, is supply.

The Great Depression And American Policies - 1819 Words

It is debatable as to what extent the Great Depression was the result of American policies in the 1920s. Many historians may argue that the cause of the Great Depression cannot be easily defined and identified due to the fact that there are many other factors which must also be taken into consideration. Some historians may argue that American policies were the largest contributing factor towards the Great Depression for many reasons, such as the underlying weaknesses in the US economy in general, which could be identified many years before the depression began in late 1929. Many examples of this can be identified, such as the Republican policies that President Hoover believed in and specific taxes that were introduced during the 1920s which resulted in international trade eventually coming to a standstill. However, it can be argued that there are many other factors which are also linked with one another when attempting to understand to what extent a certain factor contributed towards the Great Depression. For example, there were many underlying issues in 1920’s America that were indicating that the boom was under threat many years before the Depression had actually began. This can be seen through identifying just some of the many problems in USA at the time, such as when people were ‘buying on margin’, ‘buying on credit’, the banking crisis and the issues with ‘supply’ and ‘demand’ eventually leading to unemployment and lastly the ‘stock market crash’ in late 1929.Show MoreRelatedAmerican Foreign Policy After The Great Depression1390 Words   |  6 Pages Between 1920 and 1941 the paradigm of American foreign policy completely shifted from the Isolationism to Interventionism for valid reasons. First the economic and socially challenging home front crisis of the Great Depression kept American citizens and politicians busy with domestic policy. Additionally the disillusionment of people w ith WWI caused America to avoid war at all costs. However, the rising threat of fascism in Europe forced America to defend democracy and help its allies. The firstRead MoreEssay on Roosevelt and Hoover DBQ1428 Words   |  6 PagesRoosevelt and Hoover DBQ The Great Depression quickly altered Americas view of liberalism and therefore, Roosevelt can be considered a liberal and Hoover a conservative, despite the fact that they did occasionally support very similar policies. The United States experienced political shifts during the Great Depression, which are described by Arthur Schlesinger’s analysis of eras in which public objectives were placed before personal concerns. It seems that the public view of what constitutesRead MorePresident Roosevelt s New Deal971 Words   |  4 Pagesout of the Depression that It plunged into during the Herbert Hoover administration. The Great Depression happened through a myriad of events that ranged from bank failures to the stock market crashing multiple times in a short amount of time. The nation s economy was in turmoil and unemployment and poverty were at an all-time high and something had to be done to stop this economic free-fall. FDR and his political cabinet called the â€Å"Brain T rust† decided to take the Great Depression head on withRead MoreSocial and Economic Impact of The New Deal Essay966 Words   |  4 PagesImpact of The New Deal Prior to the great depression, the U.S. economy alternated between periods of prosperity and sharp economic decline. During the great depression, aggregate demand dropped sharply, causing the price level and real GOP to decline. As aggregate output declined, the unemployment rate jumped, climbing from around 3 percent in 1929 to 25 percent in1933. There were several factors that played a major role in the Great Depression. The main explanation was overproduction ofRead MoreHow Roosevelt And His New Deal Prolonged The Great Depression1395 Words   |  6 PagesAnd His New Deal Prolonged The Great Depression The traditional view of Franklin D. Roosevelt is that he motivated and helped the United States during the â€Å"Great Depression† and was a great president, however, as time has passed, economist historians have begun analyzing Roosevelt’s presidency. Many have concluded that he did not help America during the Great Depression but instead amplified and prolonged the depression. Jim Powell wrote about FDR economic policies and did an excellent job explainingRead MoreGreat Depression Essays1347 Words   |  6 PagesThe Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other interventions can save capitalism from itself. The Great Depression had important consequences and was a devastating event in America, however many good policies and programs became available as a result of the great depression, someRead More Roosevelt a Liberal and Hoover a Conservative Essay1079 Words   |  5 Pages Roosevelt a Liberal and Hoover a Conservative Thesis: Because the Great Depression quickly changed Americas view of liberalism, Roosevelt can be considered a liberal and Hoover a conservative, despite occasionally supporting similar policies. Written for the Advanced Placement U.S. History Document Based Question from the A.P. test. Hoover The political shifts in American history during the last two centuries are often explained by Arthur Schlesingers cyclical explanation of eras of publicRead MoreInterpretations of Franklin D. Roosevelt’s New Deal1635 Words   |  7 PagesIn the midst of the greatest depression in the history of the United States, Franklin D. Roosevelt and his committees drafted The New Deal, consisting of policies which they hoped would help all declining facets of the nation at the time. The American people needed to heed a promising leader that would set plans to end the depression, a change from president Hoover who seemed to have no set plan for foe dealing with such economic crisis. The New Deal aimed to stimulate the economy, create jobs,Read MoreAn Analysis Of Lawrence Reed s Great Myths Of The Great Depression 958 Words   |  4 Pagesbecoming president of the Mackinac Center for Public Policy. He stayed in that job for twenty years before assuming the presidency of the Foundation for Economic Education. He holds honorary doctorates from Central Michigan University and Northwood University. Theory Reed’s book, Great Myths of the Great Depression, attempts to argue that the stock market crash of 1929 was merely a normal economic occurrence. Instead, it was government policies enacted in response that exacerbated and prolonged theRead MoreTheu.s. The Great Depression1548 Words   |  7 Pagesthe public and eventually the majority of the government to support the idea of the isolationists: the Great Depression. As this tragic event persisted throughout the decade, it persuaded many variety of citizens of United States to believe that Isolationism was the answer to fix this crisis. The favoring of isolationism in different parts of the country and people influenced the U.S foreign policies in such a way that the United States Government became an isolationist. They believed that with the

Distributed Systems Transactions Parallel -Myassignmenthelp.Com

Question: Discuss About The Distributed Systems Transactions Parallel? Answer: Introduction Webb's Store is the retail store located in Australia. Webb wants to grow and furnish their business activities and thus for better marketing growth, they have planned to migrate to the cloud. They are in a dilemma whether the cloud computing will help them the benefits or not (Beck, Hao Campan, 2017). They are also concerned about how they should adopt the cloud in a secure way. The report will showcase the security concerns that are associated with the move of Webb from the SQL server to IaaS cloud architecture. The benefits, as well as the issues correlated with the database and cloud architecture, will be discussed in the report. The backing up of data, retrieval and storage of data in the cloud will be elaborated in the report. The recommendations will be grandstand as well and this recommendation will help Webb whether they should adopt the cloud technology or not, what advantages they can get as a result of this cloud technology. Security deployment to protect this migration of database to IaaS instance Webb if adopt cloud technology they will have to face the issues like data breaches and the data breaches generally occur by means of hijacking ones accounts, illegal access to APIs, and malware and worms attack (Shufeng Xu, 2012). These are the breaches are carried out by the hackers. For this reason, to protect the database from illegal access, following steps must be followed. Proper follow-through of the network: The database admins must be aware of the data where Webbs data will be stocked, the database admin must label those data so that those can be acquired from the database whenever needed (Azam et al., 2013). Network information security: A set of rules and regulations must be set for each employee and the customers also their access to the database must be set to a certain extent (Dinh et al., 2013). Security Intelligence techniques and procedures: The Event Management techniques and the Security Intelligence should be incorporated to detect any faults residing within the defence system (Sadooghi et al., 2017). Along with that suitable cryptographic technologies must be used to add more security to the system. Benefits and issues related to deployment of these security measures Benefits of security measures To become secured from the DDoS attack- The cloud security solutions is responsible to secure both the database and the system from DDoS attack and thus via security measures, the authenticity and the authorization can be assured. Security assurance of the information- Cloud security solutions are capable of securing Webbs data from all kinds of threats and risks. iii. Regulatory compliance- The cloud security solutions assist Webb to monitor the advanced cloud infrastructure, in this way the financial data residing within the database can be secured (Varia Mathew, 2014). Suitable solutions- The server can get crashed and this can mishaps can be averted by cloud solutions escalation. Later Webb can scale back to cut down the huge cost while the huge cloud traffic gets over. Enabling 24x7 services- Webb can communicate with the customers all the time throughout day and night 24x7 with the help of cloud solutions (Dillon Vossen, 2015). Cost- Webb do not have to bear extra cost for hardware and software products, they only have to pay for the cloud platform which they will hire from Amazon. vii. Integrity- The data integrity shows that data must be stored honestly and securely and since Amazon is brand name offering services to customers for a longer period of time, they can assure the data integrity solutions for sure. The major issue they will have to face that they will have to pay the heavy amount of money to the cloud vendors for ensuring the security of their office system and database (Muthui SISAT, 2013). Risks associated with migrating database to the cloud with respect to- The risks associated with the database are- Data breaches- Webb's data can be compromised if their data gets hacked by the hackers and the intruders, Webb can get into trouble and their reputation can suffer. Webb, for this reason, can heavy loss. Accounting hijacking of customers and employees- Webb's database contains the important sensitive information of the company's employees and the customers (Tsai et al., 2014). If those data get hijacked by phishing or any other means the company, as well as company's database, can be at risks. Malware attack- The attack carried out by malware, virus and the worm can make the entire Webb database susceptible to attack. The IaaS infrastructure The risks correlated with IaaS Cloud are- Misconfigure- Webb's existing hardware and software can misconfigure with the cloud vendor's framework and so they need the updated hardware and software solutions. Vulnerable issues- The Elastic Workload protector procedure by three procedures Remediate, Scan and Prioritize methods can detect the IaaS framework components which are susceptible to risks. Shadow-IT- This Shadow-IT involves the non-usage of dormant assets for a longer period of time, the usage of Amazon AWS services which is the beta mode, usage of the server which remains idle for a long time (Manvi, Shyam, 2014). In this scenario, Webb will use the cloud server provided by the cloud vendor so they will not use the database anymore which they are using right now. Thus this unused database can be a matter of concern. Communications between Webbs and their IaaS database in the cloud Webb must use the IaaS cloud architecture provided by Amazon AWS. Amazon is known to provide the best cloud solutions among all the vendors. Therefore, they can be benefitted using the Amazon web services. They will provide the required hardware and software solutions for Webb, Webb just needs to make minimum changes in their prevalent system framework and database to comply with the proposed cloud framework model of Amazon (Gai, Steenkamp, 2014). Amazon is known to cater the best cloud advanced technology solutions along with that the security benefits and Webb are sure to enjoy the features. Backing up data to the Cloud The threats and the security risks associated with backup of data are- Webb will need a strong bandwidth to both upload and download data that is how they can keep backup of their data. Webb has to keep in mind they have to spend money heavily for the fast bandwidth. The data can be compromised while it is being transmitted. iii. Also due to the breakdown of the server, there will be a chance of data loss. Storage of data in the Cloud The data if transmitted via insecure unencrypted network there is a chance of data breaches. During deployment of data in the cloud, Webb must be careful enough of the file they are storing if they are not stored properly the intruders can gain access to the important data that belongs to that file will be exposed (Manvi, Shyam, 2014). Retrieval of data from the cloud The high bandwidth is required to download files and to work upon. The data downloaded from the cloud database may contain the virus contained in the file must be checked. The following benefits that Webb can acquire are- Webb's database can be scaled to gain maximum throughput and along with that, the profitable services can be gained. As Amazon will take the maximum responsibility to maintain and update the database, so Webb will not have to think to spend on hardware and software (Manvi, Shyam, 2014). iii. The cloud security solutions will be catered by Amazon, so, once again Webb can stay safe and secure and will not have to think about the data being getting compromised. Their IaaS infrastructure Webb adopting the Amazon AWS cloud services definitely can stay ahead of their times. They can get a competitive edge. Moreover, they do not have to bear heavy expenses for the hardware and the software (Sharma et al., 2017). They just need few hardware and software changes to integrate their existing framework model to their Amazon cloud framework model. Since Amazon is a global brand they just need to trust Amazon. Their Ms SQL Server 2012 R2 cloud instance Amazon RDS for SQL server caters the facility so that Webb can utilise the capabilities of their SQL database to the utmost. The physical security must be assured to safeguard al hardware, software elements from illegal access (Dillon Vossen, 2015). The digital certificate also comes handy while question arises for the database security. Their Cloud network infrastructure Amazon is known for catering smart solutions for clouds and also the advanced security. The latest configuration system is required by Webb to enhance their business operations (Varia Mathew, 2014). The latest configuration systems include latest software and hardware components and integration is absolutely necessary to execute the apps and performs the associated tasks. Their Cloud backup and restore infrastructure Webb's data will be transacted through a secure channel over the internet thus all kind of data breaches and intruders' attacks can be mitigated with the help of Amazon AWS's advanced cloud solutions (Sharma et al., 2017). Conclusion It can be concluded from the above discourse that Webb can get immense benefits simply by switching to the cloud. The Amazon AWS has a lot to offer to Webb and the consultant Webb hire must acknowledge Web about the potential benefits of the Amazon AWS cloud architecture. Webb can get a competitive edge over others while conducting their business activities in both Australia and New Zealand. The advanced security solutions associated with Webb's switching of their SQL database to IaaS cloud has been portrayed in details in the report. The risks, threats as well as the advantages involved within the framework and the database has been explained in the report. The threats correlated with the backing up of data, storage and retrieval of data has been elaborated in the report. Also, the recommendations have been made on the procedures that Webb must follow to utilise the Amazon AWS cloud fruitfully in their premises. References Azam, Abdollahzadehgan; Ab Razak Che Hussin; Gohary , Marjan Moshfegh Gohary Mahyar Amini (2013),The OrganizationalCritical Success Factors for Adopting Cloud Computing in SMEs, Journal of Information Systems Research and Innovation (JISRI), Volume 4, Issue 1, pp. 67-74. Beck, M., Hao, W., Campan, A. (2017, January). Accelerating the Mobile cloud: Using Amazon Mobile Analytics and k-means clustering. InComputing and Communication Workshop and Conference (CCWC), 2017 IEEE 7th Annual(pp. 1-7). IEEE. Dillon, S., Vossen, G. (2015). SaaS cloud computing in small and medium enterprises: A comparison between civil-engineering and New Zealand.International Journal of Information Technology, Communications and Convergence,3(2), 87-104. Dinh, H. T., Lee, C., Niyato, D., Wang, P. (2013). A survey of mobile cloud computing: architecture, applications, and approaches.Wireless communications and mobile computing,13(18), 1587-1611. Gai, K., Steenkamp, A. (2014). A feasibility study of Platform-as-a-Service using cloud computing for a global service organization.Journal of Information Systems Applied Research,7(3), 28. Manvi, S. S., Shyam, G. K. (2014). human Resource management for Infrastructure as a Service (IaaS) in cloud computing: A survey.Journal of Network and Computer Applications,41, 424-440. Muthui, M., SISAT, C. (2013). Amazon Web Services. Sadooghi, I., Martin, J. H., Li, T., Brandstatter, K., Maheshwari, K., de Lacerda Ruivo, T. P. P., ... Raicu, I. (2017). Understanding the performance and potential of cloud computing for scientific applications.IEEE Transactions on Cloud Computing,5(2), 358-371. Sharma, P., Lee, S., Guo, T., Irwin, D., Shenoy, P. (2017). Managing Risk in a Derivative IaaS Cloud.IEEE Transactions on Parallel and Distributed Systems. Shufeng Gao Xu, Ai, (2012) Boosting Electronic Business Applications by Digitally Enabling SMBs with Cloud Computing Model, 11th International Symposium on Distributed Computing and Applications to Business, Engineering Science, pp-214-218. Tsai, W., Bai, X., Huang, Y. (2014). Software-as-a-service (SaaS): perspectives and challenges.Science China Information Sciences,57(5), 1-15. Varia, J., Mathew, S. (2014). Overview of amazon web services.Amazon Web Services

Parental Delinquency Essays - Childhood, Criminology,

Parental Delinquency Parental Delinquency? Gone are the good old days when mom and dad were around to teach their children about morality and the basics of growing up. Instead, we see parents who have replaced caring and personal involvement with the purchase of material goods. We see parents who are afraid to discipline their children and who are afraid to set boundaries. We see parents who are afraid to hug their children and be involved in their lives. A child's behavior shows the kind of home he or she comes from. Parents are suppose to be role models, but what do we find. Parents are neglecting their responsibility. Parents, who ought to teach by precept and example, have fallen prey to the do as I say, but not as I do syndrome. We as a society, often times fail to look at the root cause of many of the adolescent problems being witnessed today. I watched a PBS documentary entitled The Lost Children of Rockdale County. I found this documentary to be very disturbing look into the lives of middle to upper class youth. Though the focus of the program was sexual promiscuity, drugs, pornography, and alcohol, but what I found far more troubling was the tremendous breakdown that exists between the children of Rockdale County and their parents. This entire documentary was full of houses that were empty and void of supervision and adult presence. Some recent research on adolescent behavior has provided an insight into factors that contribute to juvenile delinquency. The relationships between parents and children play a significant role in the social well being of the children. Children who do the best, have parents who use both a great deal of warmth and caring with their children and also exercise a high level of control over their children's actions. High levels of warmth and control characterize the form of parenting referred to as authoritative. (Teenagers in Trouble, Gallagher, p.2) Authoritative parents are both firm and fair. Rarely did I see this type of parent in the program. I thought that if I disciplined you, you would run away was one comment made by a mother whose daughter had gone on a drinking bing at age twelve, blacked out, and realized she had been raped when she came to. Many of the parents documented were not able to connect with their children and even when they did, they thought that just showing concern was enough. A Father commented that he felt that he should allow his children to sow their wild oats when they were young so that they wouldn't do it when they were older. Just showing concern is not enough. Adolescents need guidance as well as encouragement and they need to know that their parents, their relatives, and the adult network in the neighborhood are all watching them, are all concerned, and see their upbringing as a priority. (Teenagers in Trouble, Gallagher, p 3). I could go on about the gross negligence of the parents of Rockdale County. This documentary was an eye opening view not only of blatant unconcern by the parents of this county but also the underlying breakdown of the American family. I believe that the solution to juvenile delinquency is not more laws or greater restrictions, for rarely do these interventions work. We need to have adults who are continuously, visibly and actively present in the lives of children. Bibliography Adolescence and Puberty. Bancroft, J, Reinisch, JM. (Eds.) (1990) New York: Oxford University. A Parent's Handbook: Teaching Your Kids about Developing Healthy Relationships. Gallagher, R. & Liz Claiborne, Women's Work Foundation (1998) http://www.aboutourkids.org The Children of Rockdale, (PBS, 1999)