Why Do Prices Of Some Goods Fluctuate More Than Others Essays

Why do prices of some goods fluctuate more than others Q. Why do prices of some goods fluctuate more than others? A. It is a well known fact, that various prices of goods fluctuate at various levels. The products which fluctuate most in price are often held to be necessities, but what is that makes these changes, and which factors influence them. Before trying to conclude which goods fluctuate most price- wise and why, it seems sensible to ask which group these products belong. As mentioned necessities are known to be inelastic, but so are a lot of products with no close substitutes like for example motor cars, petrol, tobacco and alcoholic drinks. Now what do these goods have in common, one might ask. Well, for starters they all have a very inelastic demand. In these situations we get the graph as the one below (1.A). From 1.A it is obvious that if quantity by some reason decreases from Q1 to Q2 this gives a quite high increase in price from P1 to P2. From this it can be concluded that a small change in quantity of a product which has low elasticity, results in high changes in price, i.e. a lot of price fluctuations. On the other hand we have products who's prices rarely fluctuate as for example luxuries. Here again it is obvious that a change in quantity demanded will result in only a little change in price. This is displayed in the graph 1.B below. Here we can see that quantity changes from Q1 to Q2 resulting on the change P1 to P2, which here concludes that the products like luxuries have highly elastic demand, resulting in only small price fluctuations. From the above I can conclude that the reason why some goods fluctuate more price wise than others is due to the elasticity of the examined good.

The Efficiency-Wage Theory in Economics

The Efficiency-Wage Theory in Economics One of the explanations for structural unemployment is that, in some markets, wages are set above the equilibrium wage that would bring the supply of and demand for labor into balance. While it is true that labor unions, as well as minimum-wage laws and other regulations, contribute to this phenomenon, it is also the case that wages may be set above their equilibrium level on purpose in order to increase worker productivity. This theory is referred to as the efficiency-wage theory, and there are a number of reasons that firms might find it profitable to behave in this way. Reduced Worker Turnover In most cases, workers dont arrive at a new job knowing everything that they need to know about the specific work involved, how to work effectively within the organization, and so on. Therefore, firms spend quite a bit of time and money getting new employees up to speed so that they can be fully productive at their jobs. In addition, firms spend a lot of money on recruiting and hiring new workers. Lower worker turnover leads to a reduction in the costs associated with recruiting, hiring, and training, so it can be worth it for firms to offer incentives that reduce turnover. Paying workers more than the equilibrium wage for their labor market means that it is more difficult for workers to find equivalent pay if they choose to leave their current jobs. This, coupled with the fact that its also less attractive to leave the labor force or switch industries when wages are higher, implies that higher than equilibrium (or alternative) wages give employees an incentive to stay with the company that is treating them well financially. Increased Worker Quality Higher than equilibrium wages can also result in increased quality of the workers that a company chooses to hire. Increased worker quality comes via two pathways: first, higher wages increase the overall quality and ability level of the pool of applicants for the job and help to win the most talented workers away from competitors. (Higher wages increase quality under the assumption that better quality workers have better outside opportunities that they choose instead.) ​ Second, better paid workers are able to take care of themselves better in terms of nutrition, sleep, stress, and so on. The benefits of better quality of life are often shared with employers since healthier employees are usually more productive than unhealthy employees. (Luckily, worker health is becoming less of a relevant issue for firms in developed countries.) Worker Effort The last piece of the efficiency-wage theory is that workers exert more effort (and are hence more productive) when they are paid a higher wage. Again, this effect is realized in two different ways: first, if a worker has an unusually good deal with her current employer, then the downside of getting fired is larger than it would be if the worker could just pack up and get a roughly equivalent job somewhere else. If the downside of getting fired if more severe, a rational worker will work harder to ensure that she doesnt get fired. Second, there are psychological reasons why a higher wage might induce effort  since people tend to prefer working hard for people and organizations that acknowledge their worth and respond in kind.

Negligence in medical malpractice based in medical law Research Paper

Negligence in medical malpractice based in medical law - Research Paper Example In the worst instance, a hospital error causes death of a patient, bringing about grief and financial strain on the deceased’s relatives (Andrew Grubb 445). A wrongful-death lawsuit can be filed to demand damages for lost wages and suffering or pain. Examples of hospital errors that could result in medical malpractice include: - Birth injuries: Improper labor services resulting injury to a baby, at times leading to complications such as Erb’s palsy or cerebral palsy. - Prescription errors: This may be over or under medication, or administration of the wrong drug. - Improper diagnoses: A patient may be treated for an illness he or she is not suffering from or a disease remains untreated because of the doctor’s failure to recognize a intimidating condition. - Surgical errors: Negligence may lead to infections or surgery on the incorrect body part or even the wrong patient. Medical malpractice law lies under personal injury law subset and its practice frequently overlaps with litigation law. This area of practice deals with legal claims on medical care specialists when the care they offer or the lack thereof, cause injury, damage, harm and/or death of the patient. The laws guiding medical malpractice varies from one state to another. These highly regulated procedures explain many aspects of the practice process, including the following: - If notice of the malpractice assertion have to be given to the medical professional before filing; - If the claim must be handed to a malpractice review board before being filed in court; How speedily a medical malpractice claim should be filed; Determining the essential qualifications for a professional medical witness, for the reasons of testifying; and Establishing statutory caps on compensations that may be awarded to the plaintiff. Although medical negligence is normally attributed to the medical professionals responsible for patients’ diagnosis, medical care / medical treatment, medical corporations, managed care organizations, clinics and hospitals may as well be sued for their employees’ actions (Stauch 66). As with every personal injury claim, proof of negligence is vital. The tort of negligence comprises of 4 elements which must be all proven to attain this verdict. The 4 elements include: (i) There was a duty of medical care owed; (ii) The medical care professional desecrated the standard of care obliged, which demonstrated negligence; (iii) This negligenc e by the medical professional caused the injury /harm; and (iv) There were compensable damages directly resulted from the injury/harm suffered . Since there is a patient - doctor relationship, the first element is usually already established in these kinds of claims. For the 2nd element, if there is no an obvious and glaring blunder, expert witness testimony is commonly implemented to prove the negligent behavior or actions. The complainants are the party passing the action and they bear the burden of attesting these elements in their claims against the medical care giver, the defendant (Smith). Medical malpractice claims are the subject of extreme controversy. Healthcare professionals and medical care businesses have encouraged legal reforms meant to eradicate big money awards for health damages, claiming that defending a case against the various lawsuits and the exorbitant compensations have resulted in a costly healthcare costs. In some states, this aggressive advocacy for these measures has resulted to

A picture of reading Essay Example | Topics and Well Written Essays - 250 words

A picture of reading - Essay Example They turned their flashlights on. They each went separate ways, imagining different lands and living in different societies. Luke went to a faraway island because of a sunken ship, while Jenna went to Mars as the first girl astronaut. The photo shows the prestige of reading to children who grow in an environment where they have access to books. The reading is happening inside their home, which suggests, that their parents or someone in the family values reading enough to provide them books. The setting is important in showing that parents have a large role in encouraging their children to love reading. Also, in this photo, reading has become an act of bonding and going to different adventures. It shows that girls and boys alike can enjoy reading because they can read the books they like. Brothers and sisters can enjoy reading together. They may not be directly playing with one another, but they can talk about the stories later. The photo shows that reading is good for creativity and

Finance International Expansion Essay Example | Topics and Well Written Essays - 1000 words

Finance International Expansion - Essay Example Major differences exist in the economic, political, socio-cultural, technology, competitive and financial environments of different countries. These need to be taken into account in planning the overseas expansion. Expansion decision has to be made after proper consideration of all strategic and operational issues arising from within international milleu. Decisions need to be made concerning a wider range of both Strategic and Operational Issues. Key Strategic Issues that need to be addressed include assessing our company's readiness to internationalise which includes the suitability of your product or service for overseas markets and the extent of local adaptation required; choosing the most attractive foreign market(s) and the best entry strategy to adopt; international pricing, distribution and promotion strategies; organising and controlling our overseas activities. Operational issues include export paperwork and documentation; legal and financial issues; finding and managing overseas partners and so on and are ultimately transferrable into financial and legal consultancy fees and travel expenses. Whether the company intend operating through agents/distributors or establish its own overseas sales subsidiary, the burden of control-related activities and costs is heavier than at home making it much more difficult to monitor and control overseas activities. There are significant financial risks associated with doing business abroad, including the risk of higher indebtness, risk of not getting paid at all and currency fluctuations-related risks. Further, when going international we will need to be sensitive and empathetic to the local political and cultural environments of different countries. That entails higher management and consultancy costs and will unltimately produce to elevation of cross-cultural and political analysis to the level of decision making tool. The competitive environment may be quite different from what we are used to at home. In whole, as a consequence of the above, international marketing is more costly and time consuming than domestic marketing and you will need to take a long-term view to achieve sustained profitability. The Barriers US Computer Systems companies, especially medium sized enterprises, face a number of barriers or obstacles when going international. These may include: Psychological Barriers including lack of international/global orientation; short-termism; product or technology rather than customer led 'mindset'; lack of commitment to international markets; exporting seen as 'too risky', 'not for us' or 'too much trouble'; the 'fear factor'. Organisational Barriers including limited resources (financial and managerial); lack of knowledge of foreign markets; lack of international experience; lack of formal training in international marketing; problems in finding suitable overseas partners; ability to compete away from home. Operational Barriers relating to export documentation and paperwork; language problems; payment delays and risks etc. Product/Market Barriers in the sense of overseas market demand particularities, i.e. that product or service may not be suitable for overseas markets without major and costly adaptation; the product or service may not have a unique competitive advantage abroad; further, problems in

Intravenous Medications in the Nursing Environment

Intravenous Medications in the Nursing Environment Phoebe Roberts Administer and Monitor Intravenous Medications in the Nursing Environment Question 1 a. Signs and symptoms of iron deficiency anaemia include fatigue, irritability, tachycardia, pale skin,  difficulty concentrating, brittle nails and shortness of breath. (Williams Hopper 2011 p. 562). b. As the patient has iron deficiency anaemia a blood transfusion is necessary to increase  haemoglobin levels within the blood as this helps to transport oxygen to cells and tissues. She also  has a history of PR bleeding. Therefore this blood transfusion is helping to replace volume lost, to  increase circulating blood volume and to improve the oxygen carrying capacity (Hamlin, Richardson-Tench, Davies 2009 pp 155,156) c. It is important to follow the Pico prep instructions as faecal matter can obscure the viewing of the  the colon. Pico prep aims to thoroughly cleanse the colon of any matter or gas to ensure that the  visual field is clear ( Corbett Banks 2011 pp. 675,676). d. Pico prep is an osmotic laxative, its action decreases the fluid absorption within the bowel which  then results in the onset of diarrhoea within 1-4 hours. Side effects can include abdominal bloating,  abdominal pain, nausea, vomiting and flatulence. ( Tiziani 2013 pp. 876,879). e. The action of this medication would have quite an impact on this elderly patient. Although she  mobilises with a four wheel walker it would become increasingly difficult to mobilise to the toilet so  frequently to empty her bowels in time. This may increase the chances of her having a fall ( Williams   Hoper 2011 p. 747). Lowering the bed, having her four wheel walker in reach and the application of  hip protectors may aid in reducing the risk of her having a fall and in the chances of her having a fall  the hip protectors may aid in protecting that area.( Crisp, Taylor, Douglas, Rebeiro 2013. p. 454). Providing a bedside commode may also reduce the chances of falls as it is located closer to her than  the toilet may be. As she is an older patient the skin around the area may become excoriated and skin  breakdown may occur due to the acidity of the diarrhoea and the area frequently being wet. Barrier  creams should be applied to at risk areas for protection. Diarrhoea can also quickly cause dehydration  and electrolyte imbalances in the elderly, this may also have an impact on this patients fluid and  electrolyte levels (Williams Hopper 2011. pp. 275, 747). Question 2. a) This patient is displaying possible signs and symptoms of a suspected urinary tract infection such  as incontinence, a burning sensation when she voids, fever, confusion and blood stains on her pad. A urinalysis should be performed to support a diagnosis of a urinary tract infection ( Williams   Hopper 2011 p. 838). As she is incontinent of both urine and faeces a thorough skin assessment  should be performed to identify the areas at risk and to identify any change in skin integrity. Skin  turgor should also be assessed as this can indicate a sign of dehydration (Crisp et. al. 2013 p. 592). A  fluid balance chart should be maintained to assess if the patient is in a positive or negative fluid  balance and the weight of the patient should also be assessed as noticeable weight changes can  indicate hypovolaemia (Crisp et.al 2013 p.1214, Scott 2010 p. 62). Auscultation of the chest could  prove useful in determining the reason of the increased respiratory rate and low oxygen saturation  levels ( Lewis Foley 2011 p. 356). A falls risk assessment should also be performed as the elderly  patient has a few risk factors for falls such as confusion, reduced mobility an d is incontinent of urine  and faeces. This can help to implement interventions to reduce the risk of a fall ( Crisp et.al p. 454). As this patient is at risk of both hypovolaemia and hypokalaemia the doctor should be notified to  thoroughly assess the patient and implement therapy for a suspected urinary tract infection. b) Cranberry juice can be effective in helping to reduce pain when urinating and also prevents the  bacteria adhering to the wall of the bladder, this method can be helpful in reducing the pain of a  urinary tract infection however the patient is undergoing a procedure the next day, therefore this  intervention should be implemented with the approval of a medical officer. A heat pack could be  placed on her abdomen to relive any pain and discomfort along with the administration of an  antipyretic to reduce her fever and pain (Williams Hopper 2011 p. 840). As the patient is having  difficulty breathing she should be placed in a suitable position to help with proper lung expansion such  as the high fowlers position along with the administration of oxygen to increase oxygen levels within  the blood. (Williams Hopper 2011 p. 604). The patient’s vital signs should be continuously  assessed to monitor any improvements or deterioration especially her blood pressur e and heart rate  as any further abnormalities such as arrhythmias and a further decline in blood pressure could  indicate hypovolaemia and hypokalaemia. Continuous assessment of her neurological state should  also be implemented to monitor any changes (Scott 2010 p. 64). c. Hypokalaemia occurs due to an excessive loss of potassium from the body or from an inadequate  intake of potassium. The body is unable to conserve potassium and relies on an adequate intake of  potassium to maintain a balance within the body. An excessive loss of potassium can be due to  diuretic therapy – especially potassium wasting diuretics, corticosteroids, vomiting and diarrhoea. Signs and symptoms include an irregular weak pulse, hypotension, muscle cramps, muscle weakness  and shallow respirations. (Williams Hopper 2011 p. 79, Scott 2010 p. 98). Medical management is aimed at restoring potassium levels either by increasing the intake of  potassium in the diet or oral potassium supplements. Intravenous replacement therapy is also  implemented in those with severe hypokalaemia to rapidly increase potassium levels. Diuretics may  be changed to a potassium sparing diuretic to prevent the loss of potassium from the body. (Scott  2010 pp. 100,101). Nursing management includes monitoring fluid input and output, monitoring the heart rate and rhythm  of those receiving IV replacement therapy, maintaining and ensuring the correct administration of the  therapy and continuous monitoring of the patient’s condition throughout. ( Scott 2010 p.102). Hypovolaemia occurs due to the loss of fluid from the body and extracellular spaces; this can be due  to excessive bleeding, excessive sweating, burns, diuretic therapy, diarrhoea, renal impairment and  vomiting. The loss of fluid then results in a decreased blood volume. (Williams Hopper 2011 p.71,  Scott 2010 pp. 60, 61). Signs and symptoms include thirst, nausea, hypotension, restlessness,  confusion, dizziness, cool pale skin, tachycardia, increased body temperature, weight loss and a  decline in cognitive status. (Williams Hopper 2011 p 72, Scott 2010 p. 62). Medical management includes finding and stopping the source of the fluid loss, the replacement of  lost fluid with an intravenous infusion with the same osmolality of blood to increase the body’s blood  volume. ( Scott 2010 p.63). Nursing management includes the administration and maintenance of intravenous fluid replacement,  monitoring the daily weight of the patient, monitoring fluid input and fluid output, encouraging the  intake of fluids to aid in restoring fluid balance and providing mouth care to maintain the integrity of  the oral mucous membranes. (Crisp et.al. p. 73). Question 3 a) Midazolam is used in this procedure as it is a sedative, hypnotic agent and muscle relaxant. This  aims to reduce the amount of movement throughout the procedure and assists in keeping the patient  in a sedative state and impairs memory function ( Tiziani 2013 p. 967). Fentanyl would be used to  reduce pain during the procedure and also aids in the maintenance of the anaesthesia ( Tiziani 2013  p 928) Diprivan is used to induce sedation and also increases the effects of the hypnotic agent and  analgesia ( Tiziani 2013 p 793.) b) Midazolam acts by binding with a benzodiazepine receptor in the central nervous system which  inhibits neurotransmitters in the brain resulting in a calming sedative affect ( DrugBank, Midazolam  DB00683 2013). Midazolam given intravenously takes affect within 1.5 2.5 minutes. Adverse effects  include respiratory depression, memory impairment, anxiety, muscle weakness, drowsiness,  hypotension, dizziness, fatigue and decreased alertness. (Tiziani 2013 pp 964, 967) Fentanyl acts on receptors within the brain, spinal cord and muscles and bind with opioid receptors  producing an analgesic affect. Administered intravenously fentanyl takes affect almost immediately.   Side effects include respiratory depression, apnoea, dyspnoea, vomiting, nausea, increased intra  cranial pressure, bradycardia, sedation, confusion, constipation, hypotension and muscle rigidity.  (Tiziani 2013 p. 923) Diprivan suppresses the central nervous system and produces a loss of consciousness. Adminstered  intravenously diprivan takes affect within 30 seconds of administration. Side effects include  respiratory depression, tachycardia, hypotension, shivering and involuntary muscle movements (Tiziani 2013 p 793) Nursing care includes continuous monitoring of respiratory rate, heart rate and vital signs during  administration of these agents and throughout the procedure, ensuring that the dose is titrated to  produce the right affect, a sedation scale should be performed when the patient is conscious,  ensuring that the patient is aware that midazolam can cause muscle weakness so care should be  taken when mobilising. Central Nervous System toxicity may occur when all three medications are  given together therefore continuous monitoring is extremely important as the effects on the central  nervous system are increased ( Tiziani 2013 p 964,968). c) As this patient has renal failure the kidneys ability to filter and excrete waste is decreased, this may result in an accumulation of the medications and could possibly result in drug toxicity – especially  opiate medications (Tiziani 2013 p.925). This patient is elderly and may have increased sedation and  confusion after the procedure due to her age and renal function and is at a high risk of falls especially  as midazolam causes muscle weakness. Midazolam administered to an elderly patient can cause  delirium, therefore this patient is at an increased risk of being affected by this ( Tiziani 2013 p.964). Constipation is also going to affect this patient as this is one of the major side effects of opiate  medications. Reference List Corbett, J., Banks, A., (2013). Laboratory Tests and Procedures with Nursing Diagnoses ( 8th Edition) New Jersey: USA. Pearson Education Crisp, J., Taylor, C., Douglas, C., Rebeiro, G., (2013). Potter Perry’s Fundamentals of Nursing (4th Edition). Chatswood: NSW. Elsevier Australia. DrugBank (September 2013) Midazolam (DB00683) Retrieved March 10, 2015, from http://www.drugbank.ca/drugs/DB00683 Hamlin, L., Richardson-Tench, M., Davies, M., (2009) Perioperative Nursing (1st Edition). Chatswood: NSW. Elsevier Health. Lewis, P., Foley, D., (2011) Health Assessment in Nursing (1st Edition). Broadway: NSW. Lippincott Wilkins Scott, W., (2010) Fluid Electrolytes Made Incredibly Easy (1st Edition) London: England. Lippincott Williams Wilkins Tiziani, A., (2013). Harvard’s Nursing Guide to Drugs (9th Edition). Chatswood: NSW. Elsevier Australia. Williams, L.S., Hopper, P.D., (2011). Understanding Medical Surgical Nursing (4th Edition). Philadelphia: USA. F.A Davis Company.

Corruption and Failure in F. Scott Fitzgerald’s The Great Gatsby :: Great Gatsby Essays

Corruption in The Great Gatsby      Ã‚   The theme of human corruption, its sources and consequences, is a common concern among writers from Shakespeare through J.D Salinger. Some suggest that it attacks from outside, while others depict corruption occurring from within the individual. In the case if The Great Gatsby and it's protagonist's fate, Fitzgerald shows both factors at work. The moral climate of the Roaring Twenties, Daisy Fay Buchanan's pernicious hold on him, and Jay Gatsby's own nature all contribute to his tragic demise.      Ã‚  Ã‚   First, the loose morality of Dan Cody, Gatsby's unfortunate role model, and superficial people who flock to Gatsby's parties contribute to Gatsby's downfall. Their examples encourages Gatsby's interpretation of The American Dream- his naive belief is that money and social standing are all that matter in his quest for Daisy. The self-absorbed debetants and their drunken escorts are among those who "crash" his extravagant soirees. As Nick Carroway tells us, "People were not invited- they went there." (pg.40) Shallow, corrupt people like Jordan Baker gossip with reckless abandon about their mysterious host. Their careless, superficial attitudes and wanton behavior represent Fitzgerald's depiction of the corrupt American Dream.      Ã‚   Another force of corruption responsible for Gatsby's fate is his obsession with a woman of Daisy's nature. Determined to marry her after returning from the war, he is blind to her shallow, cowardly nature. He is unable to see the corruption which lies beyond her physical beauty, charming manner and playful banter. That she is incapable of leaving her brutal husband, Tom, of committing herself to Gatsby despite his sacrifices escapes him. As Nick observes, Gatsby's expectation is absurdly simple:"He only wanted her to tell him [Tom] that she never loved him." (pg.91) Daisy is not worthy of the pedestal on which she is placed. Since she is hallow at the core, so is his dream which is based on a brief flirtation, nothing more.      Ã‚   Finally, Gatsby's own character-especially his willful obsession-contributes to his fate. Despite his naivetà © about Daisy and her friends who "are rich and play polo together," he, too, has been seduced by the lure of money and fame. Unable to control his obsessive desire to have Daisy, he cares little about the