Monday, December 30, 2019

Why Does Money Have Value in Economics

While it may be true that money makes the world go around, it is not inherently valuable. Unless you enjoy looking at pictures of deceased national heroes, these colorfully imprinted pieces of paper have no more use than any other piece of paper. It is only when we agree as a country to assign a value to that paper—and other countries agree to recognize that value—that we can use it as currency. Gold and Silver Standards It didnt always work this way. In the past, money generally took the form of coins composed of precious metals such as gold and silver. The value of the coins was roughly based on the value of the metals they contained because you could always melt the coins down and use the metal for other purposes. Until a few decades ago, the value of paper money in many countries, including the United States, was based on a gold or silver standard, or some combination of the two. The piece of paper money was simply a convenient way of holding that particular bit of gold or silver. Under the gold or silver standard, you could actually take your paper money to the bank and exchange it for an amount of gold or silver based on an exchange rate set by the government. Up until 1971, the United States operated under a gold standard, which since 1946 had been governed by the Bretton Woods system, which created fixed exchange rates that allowed governments to sell their gold to the United States treasury at the price of $35 per ounce. Believing that this system undermined the U.S. economy, President Richard M. Nixon took the country off the gold standard in 1971. Fiat Money Since Nixons ruling, the United States has operated on a system of fiat money, which means our currency is not tied to any other commodity. The word fiat originates in the Latin, the imperative of the verb facere,  to make or become.  Fiat money is money whose value is not inherent but called into being by a human system. So these pieces of paper in your pocket are just that: pieces of paper.   Why We Believe Paper Money Has Value So why does a five-dollar bill have value and some other pieces of paper do not? It’s simple: Money is a both a good and a method of exchange. As a good, it has a limited supply, and therefore there is a demand for it. There is a demand because people can use the money to purchase the goods and services they need and want. Goods and services are what ultimately matter in the economy, and money is a way that allows people to acquire the goods and services that they need or want. They earn this method of exchange by going to work, which is a contractual exchange of one set of goods—labor, intellect, etc.—for another. People work to acquire money in the present to purchase goods and services in the future. Our system of money operates on a mutual set of beliefs; as long as enough of us believe in the value of money, for now, and in the future,  the system will work. In the United States, that faith is engendered and supported by the federal government, which explains why the phrase backed by the full faith and credit of the government means what it says and no more: the money may have no intrinsic value, but you can trust using it because of its federal backing. Furthermore, it is unlikely that money will be replaced in the near future because the inefficiencies of a purely barter  system, in which goods and services are exchanged for other goods and services, are well known. If one currency is to be replaced by another, there will be a period in which you can switch your old currency for new currency. This is what happened in Europe when countries switched over to the Euro. So our currencies are not going to disappear entirely, although at some future time you may be trading in the money you have now for some form of money that supersedes it.   The Future Value of Money Some economists dont trust our system of fiat currency and believe we cannot continue to declare that it has value. If the vast majority of us come to believe that our money wont be nearly as valuable in the future as it is today, then our currency becomes inflated.  Inflation  of the currency, if it becomes excessive, causes people to want to get rid of their money as quickly as possible. Inflation, and the rational way citizens react to it is bad for the economy. People will not sign profitable deals that involve future payments because they’ll be unsure what the value of money will be when they get paid. Business activity sharply declines because of this. Inflation causes all sorts of other inefficiencies, from a cafà © changing its prices every few minutes to a homemaker taking a wheelbarrow full of money to the bakery in order to buy a loaf of bread. The belief in money and the steady value of the currency are not innocuous things. If citizens lose faith in the money supply and believe that money will be worthless in the future, economic activity can grind to a halt. This is one of the main reasons the U.S. Federal Reserve acts diligently to keep inflation within bounds—a little is actually good, but too much can be disastrous. Supply and Demand Money is essentially a good, so as such is ruled by the axioms of supply and demand. The value of any good is determined by its supply and demand and the supply and demand for other goods in the economy. A price for any good is the amount of money it takes to get that good. Inflation occurs when the price of goods increases—in other words when money becomes less valuable relative to those other goods. This can occur when: The supply of money goes up.The supply of other goods goes down.Demand for money  goes down.Demand for other goods goes up. The key cause of inflation increases in the supply of money. Inflation can occur for other reasons. If a natural disaster destroyed stores but left banks intact, we’d expect to see an immediate rise in prices, as goods are now scarce relative to money. These kinds of situations are rare. For the most part,  inflation  is caused when the money supply rises faster than the supply of other goods and services. To summarize, money has value because people believe that they will be able to exchange this  money for goods and services in the future. This belief will persist so long as people do not fear future inflation or the failure of the issuing agency and its government.

Sunday, December 22, 2019

The Basketball Market And Company Description Essay

Market and Company Description The basketball sneaker market holds great importance to basketball players and fans and is an important part of the footwear market. A rough size of the basketball footwear market can be determined by the total market revenue divided by the average price of basketball sneakers to find the approximate number of units sold in a year. In 2016, the basketball footwear market in Canada reached a total revenue of $140 million (Hutchins, 2016). In the current market the average basketball shoes cost around $190. The total market revenue divided by the average price of basketball shoes equals approximately 740, 000 units sold within this year. The major segments of the basketball footwear market in Canada are basketball players and enthusiasts that range from youth to adults. Sneakers are segmented based on different positions in basketball. Consumers who play basketball are segmented based on the position they play: (1) guards require speed (2) centres require strength and (3) forward players require both. (Brauner, Zwinzscher, Sterzing, 2012). The basketball sneaker market shows signs of growth. A sign that shows growth in Canada is the increase in the previous market size of $85 million in 2012, and its current market size of $140 million in 2016, an increase of 64% increase in the market (Hutchins, 2016). The segments that are growing within Canada are the fans and youth, indicated by the growth in basketball viewership between â€Å"108,000 inShow MoreRelatedCreative Strategy1101 Words   |  5 PagesAdvertisers use different ways of thinking to create catchy slogans that capture consumer attention. Creative strate gies promote publicity, public relations, personal selling and sales promotion. These ways of thinking are divided into three basic descriptions: Weak strategies, mid-strength strategies and strong strategies. 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Saturday, December 14, 2019

Marijuana Argument Paper Free Essays

To Legalize or Not to Legalize The question of whether or not to legalize marijuana has been a hot spot for this generation and is something that has enflamed a lot of passion in people. This issue plays a big part in the lives of Americans because marijuana is the most commonly used, and abused, drug in the United States (DuPont par. 3). We will write a custom essay sample on Marijuana Argument Paper or any similar topic only for you Order Now Some people think it should be legalized because it would be good for the economy, it would help stop the drug wars, and because they believe it’s the right of individuals to smoke marijuana if they so desire. Other people think that it should not be legalized because of its negative health effects, dangers to society, and because they don’t think that marijuana has any benefits to the community of our country. Because of the scope of this issue, there are many strong arguments for and against the legalization of marijuana. However, in my opinion, marijuana should not be legalized due to its harmful side effects, negative impact on our economy, and overall danger to society. The first reason marijuana should not be legalized is that it leads to numerous health concerns for the user and those around him or her. Marijuana will increase the heart rate by 20% to 100% after using it and this can lead to later heart problems. It also affects the lungs and because when smoking marijuana, one inhales more deeply and for a longer time than when smoking cigarettes, so the effect on the lungs is even worse (â€Å"Marijuana† screens 1-2). It can lead to coughing, pulmonary infections, and lung cancer, and marijuana also represses the immune system, which exposes the body to numerous diseases (â€Å"What are the medical dangers of marijuana use? † screens 1-2). Finally, marijuana is very unhealthy for the brain. According to the web page â€Å"Marijuana† written by the National Institute on Drug Abuse, marijuana causes one to have distorted perceptions, impaired coordination, and problems with learning and memory. These results can last for multiple days. Other extreme mental diseases that smoking marijuana can cause are anxiety, depression, and schizophrenia (screen 1). Not only that, but marijuana can indeed be addictive which leads to further health problems (â€Å"What are the medical dangers of marijuana use? † screen 3). Many people, when arguing in favor for the legalization of marijuana, neglect the negative impact marijuana has on its user, which is an incredibly important part of the argument. Yet marijuana does not only negatively affect the user, it also presents many dangers for society. One of these dangers is all the health risks that come from secondhand smoke. The secondhand smoke of marijuana can cause all of the health problems that smoking it directly does. If children are around smoke from marijuana, it can cause asthma, ear infections, breathing problems, and it can stunt their mental and emotional development (â€Å"Effects of Smoking† par. -2). Another concern for the safety of society that marijuana presents is people driving under the influence. If marijuana were legalized, the amount of DUI’s would absolutely increase (â€Å"Arguments For and Against Legalizing Marijuana† screen 1). Currently if a person gets pulled over for driving under the influence, theyà ¢â‚¬â„¢re in for â€Å"double trouble,† so to speak, because the officer could arrest them for, obviously, driving under the influence, but they could also arrest them for possessing marijuana since it is illegal. If marijuana is legalized, people will still be given DUI’s, but they won’t be worried about going to jail for possessing marijuana, which might lead to more DUI’s. Marijuana has so many dangerous outcomes on society, which is one more reason why it should not be legalized. Finally, marijuana truly would not have any positive outcomes on our country. Many people argue that if we legalize marijuana, we can put high taxes on it and improve our economy from it. However, marijuana is very easy to get from other sources, so why would people buy taxed marijuana when they can get along just fine with marijuana bought from other locations? DuPont par. 11). People can grow their own marijuana in their backyards, get some from friends, or even get it from another country. In addition, the legalization of marijuana could lead to people advocating for the legalization of other, more dangerous drugs, which would cause of plethora of new problems. In the end, legalizing mariju ana would truly do no good for our society. In conclusion, legalizing marijuana would not help at all in our fight to prevent the abuse of this drug. Legalizing marijuana will lead to numerous health problems, will hurt the safety of all people, not just the users, and it will do no general good for society. In fact, legalizing marijuana will simply increase the number of users and abusers. An effective way for controlling our country’s use of marijuana would be creating more prevention awareness problems. Many people do not know the harmful effects of marijuana and if they did, the amount of people who use marijuana would most likely drop. We need to take action to educate people about the harmful effects of marijuana so that this issue oes become exacerbated in the future. Works Cited â€Å"Arguments For and Against Legalizing Marijuana. †Pros amp; Cons of Legalizing Marijuana. University of Missouri at St. Louis. Web. 11 Sept. 2012. DuPont, Dr. Robert L. â€Å"Why We Should Not Legalize Marijuana. †Marijuana amp; Money. CNBC. 20 Apr. 2010. Web. 11 Sept. 2012. â€Å"Effects of Smoking. †Diseases amp; Health Conditions. Livestrong. 2012. Web. 11 Sept. 2012. â€Å"Marijuana. †DrugFacts. National Institute on Drug Abuse. Nov. 2010. Web. 11 Sept. 2012. â€Å"What are the medical dangers of marijuana use? † Health Concerns. Harvard. Web. 11 Sept. 2012. How to cite Marijuana Argument Paper, Essays

Thursday, December 5, 2019

Public Service Delivery Managing with External

Question: Discuss about the Public Service Delivery for Managing with External. Answer: Introduction This particular report is mainly aimed to identify all the crucial as well as the key factors in the service delivery for the government agencies. On the other hand, three important recommendations are also aimed to be established in this study through which issues associated with the service delivery can be mitigated. Apart from that, this report has the aim to deploy an e-government service delivery infrastructure with the help of which the new service for an imaginary developing country can be implemented. Moreover, the three suggestions are also aimed to be provided in this report, which are the key processes or the strategies through which the user needs can be integrated into the service design. Key Factors in Service Delivery for Government Agencies According to Demydov et al., (2015), the effective coordination of the service delivery can easily increase the service quality as well as can also benefit the providers of service. The benefits incorporate much effective utilization of resources as well as improved relationships of working. The Human Service delivery process is complicated in the modern Western societies with the higher expectations in community who are competing the requirements. The human service delivery is often delivered under the fiscal barriers. The specialization can also be meant that the individual agencies or the service providers implement the expertise for delivering a very specific service, yet communities, families as well as individuals (Khosa, 2015). Therefore, it is very crucial for recognizing the fact that the distinctions between the community-initiated as well as the whole-of-government approaches are often blurred, in cases particularly where the community-initiated are taken up by the program s of whole of government due to their perceived success in order to deliver the real results. It is also clear regardless of such distinctions through the analysis of both the approaches that the certain factors in association with the coordination of the service delivery can lead to the positive outcomes for the indigenous Australian. There are few significant as well as crucial factors in the service delivery for the Government agencies, which are crucial in delivering such outcomes such as: Supporting the non-indigenous as well as indigenous staff Applying an approach based on strengths Investing resources as well as time into the consultations of community (Gabris et al., 2014). Ensuring the cultural appropriateness On the other hand, there are four key elements for the successful delivery systems of the services necessary for the government agencies are the customer experience, employee engagement, service quality as well as the service culture. According to the survey done by the Digital Transformation agency of the Australian Government, it can stated that the government agencies should follow the above mentioned and analyzed factors in order to make the government processes less stressful as well as less complex for the people (Brown, Potoski Van Slyke, 2015). This is simply because the government agencies have an ethical obligation for delivering the service with the best quality as the public servants within the quickest possible time. As per data presented in the survey, it can be seen that most of the people are comfortable with the utilization of the digital channels for interacting with the federal government agencies (Erickson Glazer, 2015). Running a successful service company shou ld be synonymous with the delivery of the excelling service. This survey has provided that all of the factors identified in this section are the key elements in the service delivery for government agencies. Major Recommendations for the Service Delivery Accomplishing the goals of the service delivery is very crucial as well as a big challenge for numerous governments. It can be stated that the local government of a particular country should have the facilitated delivery of service (Reddick Turner, 2012). Therefore, the failure in the provision of the promised public services as well as the goods is the consequence of the immediate failure of the reformation of the public sector as it has been the case in numerous developing and the developed countries as well (Schnoll, 2015). Therefore, in case of the government agencies in Australia, these agencies can follow three significant recommendations in order to resolve as well as overcome the issues associated with the service delivery served by the public sectors in the country. These are as follows: Focusing on the problem management process for the service delivery The government agencies in Australia should adopt as well as build a proper and an effective problem management process in order to provide a perfect service delivery. This is simply because that the process of problem management for the delivery of service is mainly focused on the reducing incidents as well as the impacts of those incidents on the operations of a particular organization (Papadomichelaki et al., 2013). The problem management process should help the clients of the government agencies in Australia in terms of reducing the incidents as well as their impact on the operations. It can address the underlying cause of several incidents and it also attempts to address as well as detect the major reasons of issues. Implementation of the Effective Regional Service Delivery Model The problems or the issues in association with the service delivery process of the government agencies in Australia can be mitigated with the help of the proper implementation of the effective Regional Service Delivery Model. The Regional Service Delivery Model is easily customizable as well as permits the local governments for determining how to collaborate as well as pool the resources most effectively. The Regional Service Delivery Model possesses the sharing economy in order to help the governments in Australia for delivering the services that their citizens need on the basis that is as needed (Papadomichelaki Mentzas, 2012). The citizens can enjoy the real advantages without incurring long term costs and the increase in the tax as a result of the sharing solutions. Adoption of the Cohesive Service Delivery Theory This particular theory can also play a two significant roles in terms of resolving the issues in relation to the service delivery process of the government agencies in Australia (Schnoll, 2015). First role of the implementation of this theory is the facilitation the understanding the distinct factors by contributing to the delivery service. On the other hand, the second role is to justify and inform the policy and development program and the implementation for public participation, e-governance and good governance resulting in the effective service delivery. E-government Service Delivery Infrastructure Proposal E-government has become the global or the international phenomena. Over the last decade, there have been some great as well as significant innovations in the e-government. Most of the governments of several countries over the world have developed the detailed strategies to realize their programmes of e-government (Luftman et al., 2013). The objectives of these particular programmes generally vary over the countries, still there are many commonalities. The proper implementation of e-government strategy or the e-government service delivery infrastructure can be significant for the establishment of the imaginary developing country. In other words, it can also be stated that the e-government would be very simple regarding the application of the communication as well as the information technology to all the aspects of the business of the government agencies (Egan, 2013). Therefore, it makes sense in terms of improving the effectiveness as well as the efficiency in the achievement of the o utcomes of the program as well as policy. There are few significant objectives behind the implementation of the proper e-government strategies proposal for a new service for an imaginary developing country. These are as follows: To deliver citizen services as well as integrate the organizational silos over the common channels To design the technology architecture such as standards, data as well as infrastructure for the public sector. To map the path from the pilot experiments towards the scalable as well as sustainable systems. To generate the savings with the help of the application of the IIT in the backend processes or the other areas of programs. To handle the enhancing or the incrementing costs of the IIT in the government To enhance or maximize the effectiveness of the initiatives of ICT within the government. To implement the institutional frameworks as well as right policy from the beginning To pursue the real or the actual goals of the economic development just not technology push. There are few significant e-government service delivery structure within its infrastructure which would be effective for the implementation of the new service for an Imaginery developing country (Beloglazov et al., 2014). These are as follows: Process One This particular process incorporates the definition of the vision as well as the goals, setting up the taskforce of high level leadership, ensuring consistency with the priorities of the economic development, assessing the status as well as securing the political support (Schnoll, 2015). Process two - This particular process incorporates putting in place e-government management framework, assessing the needs for priority for the government services, secure funding, establishing the partnerships with the private sector where feasible as well as designing service delivery, data sharing as well as the technical infrastructure (Alford O'Flynn, 2012). Process three - This particular process incorporates the development of the plan of time-bound implementation, security of the stakeholder buy-in of the plan of implementation, strategy implementation in phases, publicizing and measuring progress as well as evaluating results and making the corrections in the course (Merrill et al., 2014). Suggestions into Integrating User Needs into the Service Design The proper as well as the effective integration of the user requirements into the service design of the government agencies is very important and crucial as well. Therefore, in order to accomplish an effective service design, three major suggestions should be maintained as well as followed. These are as follows: Customer feedback In order to gain a positive customer feedback, it is important to properly incorporate the elements continuous improvements, account management as well as customer intelligence (Khosa, 2015). Therefore, it must be stated that user needs can be integrated into the service design if the positive customer feedback can be achieved with the help of the incorporation of the service design elements. Operations review Operation review is the major or the crucial checkpoint of management, which should be occurred at the specified intervals aligned normally to the period of measurement stipulated in the Service Level Agreement as well as the Operating Level Agreement documents (Erickson Glazer, 2015). Therefore, it can act as the crucial suggestion, which is necessary to be accomplished for integrating the needs of the user into the service design. Service Quality It can be considered as the important or the key suggestion for the integration of the necessities of the users into the service design. The service quality simply incorporates the performance, process as well as the strategic management systems. This process design or this strategy is the basic towards the design of the entire model of service management (Reddick Turner, 2012). Therefore, with the help of providing a good service quality, the clients can get help for fulfilling their mission and supporting them in the pursuit of the organizational purpose of them. Conclusion After conducting the entire discussion in this particular report, it can easily be stated that this report has successfully identified all the crucial as well as the key factors in the service delivery for the government agencies. On the other hand, three important recommendations have also been successfully established in this study through which issues associated with the service delivery can be mitigated. Apart from that, this report has also successfully deployed an e-government service delivery infrastructure with the help of which the new service for an imaginary developing country can be implemented. Moreover, the three suggestions provided in this report those are the key processes or the strategies through which the user needs can be integrated into the service design. References Alford, J., O'Flynn, J. (2012).Rethinking public service delivery: Managing with external providers. Palgrave Macmillan. Beloglazov, A., Banerjee, D., Hartman, A., Buyya, R. (2014). Improving Productivity in Design and Development of Information Technology (IT) Service Delivery Simulation Models.Journal of Service Research, 1094670514541002. Brown, T. L., Potoski, M., Van Slyke, D. M. (2015). The impact of transaction costs on the use of mixed service delivery by local governments.Journal of Strategic Contracting and Negotiation,1(4), 239-267. Demydov, I. V., Strykhalyuk, B. M., Shpur, O. M., Mohamed, M. E. H., Klymash, Y. V. (2015). The structural-functional synthesis of cloud service delivery platform after service availability and performance criteria. , (1), 144-159. Egan, G. (2013).The skilled helper: A problem-management and opportunity-development approach to helping. Cengage Learning. Erickson, R., Glazer, S. (2015).U.S. Patent No. 9,009,058. Washington, DC: U.S. Patent and Trademark Office. Gabris, G. T., Koenig, H. O., Thurmaier, K., Maher, C. S., Nelson, K. L., Piker, K. A., ... Rapp, C. (2014).Alternative Service Delivery: Readiness Check. Icma Publishing. Khosa, M. M. (2015).Empowerment through service delivery. Human Sciences Research Council. Luftman, J., Zadeh, H. S., Derksen, B., Santana, M., Rigoni, E. H., Huang, Z. D. (2013). Key information technology and management issues 20122013: an international study.Journal of Information Technology,28(4), 354-366. Merrill, J., Dai, H., Zhu, J., Kapur, S., Banerjee, S., Elder, D., ... Medved, J. (2014).U.S. Patent No. 8,892,708. Washington, DC: U.S. Patent and Trademark Office. Papadomichelaki, X., Mentzas, G. (2012). e-GovQual: A multiple-item scale for assessing e-government service quality.Government information quarterly,29(1), 98-109. Papadomichelaki, X., Koutsouris, V., Konstantinidis, D., Mentzas, G. (2013). An analytic hierarchy process for the evaluation of E-Government service quality.International Journal of Electronic Government Research (IJEGR),9(1), 19-44. Reddick, C. G., Turner, M. (2012). Channel choice and public service delivery in Canada: Comparing e-government to traditional service delivery.Government Information Quarterly,29(1), 1-11. Schnoll, H. J. (2015).E-government: Information, technology, and transformation. Routledge.