Monopolies and Monopoly Power (Definition)

The Economics Glossary defines monopoly as: If a certain firm is the only one that can produce a certain good, it has a monopoly in the market for that good. To understand what a monopoly is and how a monopoly operates, well have to delve deeper than this. What features do monopolies have, and how do they differ from those in oligopolies, markets with monopolistic competition and perfectly competitive markets? Features of a Monopoly When we discuss a monopoly, or oligopoly, etc. were discussing the market for a particular type of product, such as toasters or DVD players. In the textbook case of a monopoly, there is only one firm producing the good. In a real-world monopoly, such as the operating system monopoly, there is one firm that provides the overwhelming majority of sales (Microsoft), and a handful of small companies that have little or no impact on the dominant firm. Because there is only one firm (or essentially only one firm) in a monopoly, the monopolys firm demand curve is identical to the market demand curve, and the monopoly firm need not consider what its competitors are pricing at. Thus a monopolist will keep selling units so long as the extra amount he receives by selling an extra unit (the marginal revenue) is greater than the additional costs he faces in producing and selling an additional unit (the marginal cost). Thus the monopoly firm will always set their quantity at the level where marginal cost is equal to marginal revenue. Because of this lack of competition, monopoly firms will make an economic profit. This would normally cause other firms to enter the market. For this market to remain a monopolistic one, there must be some barrier to entry. A few common ones are: Legal Barriers to Entry - This is a situation where a law prevents other firms from entering the market to sell a product. In the United States, only the USPS can deliver first class mail, so this would be a legal barrier to entry. In many jurisdictions alcohol can only be sold by the government-run corporation, creating a legal barrier to entry in this market.Patents - Patents are a subclass of legal barriers to entry, but theyre important enough to be given their own section. A patent gives the inventor of a product a monopoly in producing and selling that product for a limited amount of time. Pfizer, inventors of the drug Viagra, have a patent on the drug, thus Pfizer is the only company that can produce and sell Viagra until the patent runs out. Patents are tools that governments use to promote innovation, as companies should be more willing to create new products if they know theyll have monopoly power over those products.Natural Barriers to Entry - In these type of monopolies, other firms cannot enter the market because either the startup costs are too high, or the cost structure of the market gives an advantage to the largest firm. Most public utilities would fall into this category. Economists generally refer to these monopolies as natural monopolies. Theres the need-to-know information on monopolies. Monopolies are unique relative to other market structures, as it only contains one firm, and thus a monopoly firm has far more power to set prices than firms in other market structures.

Stem Cell Research - Protect Consumers from False Claims...

Stem Cell Research - Protect Consumers from False Claims and Miracles Due to the potential therapeutic uses and the potential profit from stem cells, there has been an increased interest in stem cell research. While some progress has been made, we do not know nearly enough about how stem cells work to use them for the treatment of human diseases. However, there are researchers that claim that they have developed the technology to apply stem cells to the treatment of aging and diseases. Websites such as www.youngeryounger.com and www.medra.com state that they have created a miraculous medical cure, known as cellular therapy, which can treat just about any problem. Cellular Therapy was invented accidentally in 1931 when Swiss†¦show more content†¦Once injected or ingested, the cells circulate throughout the body until they locate the organ in need of repair. Types of cells that have been isolated and used in cellular therapy thus far include those from the: brain, pituitary, thyroid, adrenal glands, thymus, liver, kidney, pancreas, spleen, heart, ovary, testis and parotid. In one round of therapy, numerous cell types can be injected simultaneously (Barrett, 2003).The magic behind this technology according to www.youngeryounger.com occurs because the young cells, which are organ specific but not species specific, imprint their vigor upon old, tired and degenerating cells, stimulating them to function with renewed efficiency. The organ itself then retains its vigor and vitality (www.youngeryounger.com, 2003). How is the therapy done? Cellular therapy is usually performed in one of two ways. First, fetal animal cells (either fresh or frozen) can be injected or administered intravenously directly into the patient. If the fetal cells have been freshly removed from the animal, then they are suspended in an isotonic salt solution and injected into the patient. Frozen cells, which have been either lyophilized or frozen in liquid nitrogen, are generally screened for viruses and bacteria before they are injected since they do not have to be used immediately (U.S. Congress, 1990). Medra, Inc. refers to this method as Fetal Stem Cell Therapy, and claims that rarely has a single treatment modality offered so muchShow MoreRelatedSources of Ethics20199 Words   |  81 PagesHumGen: 37 Nuffield Council on Bioethics: 39 The European Union’s: 43 2.22- GENETICAL BEHAVIOR: 44 2.23- ETHICS OF BEHAVIOR HAS A BIOLOGICAL BASIS? 47 Behavioural Ethics And Genetics Study: 48 Implications of Behavioural Genetics Research In Society: 50 How the genes influence behaviour and ethics: 52 2.3- PHILOSOPHICAL: 55 2.31- Contribution Of In Ethics By The Source Of Philosophical Systems: 55 2.32- Contribution of Aristotle: 57 2.33- Contributions By Other ImportantRead More50 Harmful Effects of Genetically Modified (Gm) Foods14312 Words   |  58 Pagesfactor for some of the largest and rapid agri-chemical firm mergers in history. The merger of Pioneer Hi-Bed and Dupont (1997), Novartis AG and AstraZeneca PLC (2000), plus Dow s merger with Rohm and Haas (2001) are three prominent examples, Few consumers are aware this has been going on and is ever continuing. Yet if you recently ate soya sauce in a Chinese restaurant, munched popcorn in a movie theatre, or indulged in an occasional candy bar - you ve undoubtedly ingested this new type of food.Read MorePharmaceutical Industry Ethical Practices13569 Words   |  55 Pagestoiling endeavors to provide you a real and complete picture of the situation of Pharmaceutical Marketing. If you have any further queries, please call us on our cell no. 0322-3142893. We would be glad to respond to your queries. Sincerely, All Group Members BBA-V Institute of Business Administration Acknowledgements This research was only possible with the efforts of our entire group. Thanks a lot to the entire team for their all-embracing contributions. We would also like to thank theRead MoreEssay on Silent Spring - Rachel Carson30092 Words   |  121 Pages including complete copyright information, please visit: http://www.bookrags.com/studyguide-silentspring/ Copyright Information  ©2000-2007 BookRags, Inc. ALL RIGHTS RESERVED. The following sections of this BookRags Premium Study Guide is offprint from Gales For Students Series: Presenting Analysis, Context, and Criticism on Commonly Studied Works: Introduction, Author Biography, Plot Summary, Characters, Themes, Style, Historical Context, Critical Overview, Criticism and Critical Essays, MediaRead MoreLogical Reasoning189930 Words   |  760 Pages....................................................................... 18 Exercises ............................................................................................................................................ 19 CHAPTER 2 Claims, Issues, and Arguments .............................................................................. 23 What is a Statement?......................................................................................................................Read MoreThe Walt Disney Company and Disney Management25371 Words   |  102 Pageswere reluctant to spend the $280 a day needed to enjoy the attractions of the park, including les hamburgers and les milkshakes. Staying overnight was out of the question for many because hotel rooms were so high priced. For example, prices ranged from $110 to $380 a night at the Newport Bay Club, the largest of EuroDisney’s six new hotels and one of the biggest in Europe. In comparison, a room in a top hotel in Paris cost between $340 and $380 a night. Financial losses became so massive at EuroDisneyRead MoreOrganisational Theory230255 Words   |  922 Pagesdilemmas. The book engages in an imaginative way with a wealth of organizational concepts and theories as well as provides insightful examples from the practical world of organizations. The authors†™ sound scholarship and transparent style of writing set the book apart, making it an ingenious read which invites reflexivity, criticalness and plurality of opinion from the audience. This is a book that will become a classic in organization studies. Mihaela L. 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We have continued Marketing Wars, which many of you recommended, and reinstated Comebacks of firms iii iv †¢ Preface rising from adversity. I have also brought back Ethical Mistakes, because I believe that organizationsRead MoreFundamentals of Hrm263904 Words   |  1056 Pagessave money From multiple study paths, to self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started www.wileyplus.com/firstday Student support from an experienced

Barriers to Learning from Disaster Free Essays

Barriers to Learning from Catastrophe The being of insurance policies is cited by some bookman as one of the barriers to larning from catastrophes ( Elliott, et al. , 2000 ) . There is a misconception among the members of the populace that one time you have taken an insurance policy, it will take attention of all your jeopardies. We will write a custom essay sample on Barriers to Learning from Disaster or any similar topic only for you Order Now In most instances insurance will non cover hurricane harm, inundations among other jeopardies which are black. Persons and concern organisations have ever viewed readiness cost as expensive and besides excessively complicated ( Elliott et al. , 2000 ) . The perceptual experience that catastrophes happen everyplace and that they can non be avoided is another barrier to larning from their happening. This perceptual experience and attitude is unsafe, but it can be overcome through hazard readiness and analysis. Most people have close entree to adequate supplies of nutrient and H2O, this is unsafe because these people are ever comfy and takes small or no precautional steps to forestall a catastrophe from reoccurring ( Elliott et al. , 2000 ) . The construct of personal duty poses another barrier. Peoples are brought up believing that they can ever turn to name aid lopes such as 911 in instance of an exigency. Some state of affairss may happen forestalling the forces in charge of exigency from making in clip. As a consequence, many people fail to larn how to last on their ain without the aid of other individuals ( Lawson, 2013 ) . The inclination of switching incrimination for an inauspicious happening provides another barrier. If an organisation is entirely responsible for a catastrophe due to miss of readiness, it should research the causes and non faulting other persons. If the incrimination is projected elsewhere, such organisations fail to larn from the occurrence of the catastrophe. Where there is a deficiency of trust in an organisation, the informational flow, indispensable for organisational acquisition and crisis direction can be distorted. In the absence of trust, full revelation will besides non be available therefore suppressing honestness. For case, the inclination to fault a pilot in instance of an accident masks all factors that contributed to the accident which might hold been an of import lesson to such a pilot ( Lawson, 2013 ) . When we experience a catastrophe, we tend to research our failures to forestall and expect inauspicious events, likely that have long periods of incubation. In most instances, the premises made and the nucleus beliefs normally have an influence on the usage or development of precautional steps. If we base our precautional steps on false premises, our control systems and all defence mechanisms in topographic point will be a failure, which may non attest itself unless triggered to expose them. These defences make it hard for a state or an single to cover with events when they really occur, given that catastrophe is normally unexpected and pressing. Sometimes fortunes taking to a catastrophe in an organisation can be alone and the available eventuality programs may non hold incorporated schemes on how to cover with them. Poor readyings or programs based false premises can take to projecting incriminations and denial. Until the ruinous event has occurred, so the state can non go on to de ny the chance of the event happening. The denial procedure will suppress our ability to larn after the event ( Boulter et al. , 2013. ) . When a catastrophe occurs, it creates a circumstance which lies outside the usual direction pattern and more frequently it will transcend the authoritiess or managers’ experience and accomplishments. Crisis is a period of uncertainnesss and many activities, and hence there is small clip for larning and contemplation. Governments and directions will seek to hold legitimacy from their citizens and the stakeholders as they deal with the event’s wake. They will most evidently project incrimination to person or elsewhere. This will do the acquisition after the crisis much more hard. Therefore, larning will seldom follow catastrophe. Failure to larn a lesson from the happening of an inauspicious event will present a menace for return of similar events in the hereafter and the authorities or directions will reiterate errors that they had made earlier. It is hence of import for the authoritiess and organisations to non merely learn from their errors but besides from the errors made by other organisations or states ( Katrina, 2008 ) . Effective communicating is highly of import during a catastrophe. Feedback will assist forestall the incident from developing into a ruinous event. This can merely happen if organisations can hold both negative and positive feedbacks. Effective thought is paramount in these state of affairss as it will take to the development of new positions and new significance to catastrophe. In most instances, organisations experience individual looped feedback and therefore individual looped larning. There is a demand for cultural readjustment which must non be an on and off occasions, but should be evaluated on a regular basis both in footings of aims and purposes ( Elliott et al. , 2000 ) . Time can besides impede effectual acquisition from a catastrophe. No paperss may hold been maintained, memories will melt with clip, participants will decease and the juncture becomes blurred as clip base on ballss. It is much more hard to larn from past catastrophes because of the modern engineerings which have taken case in point. Operators of modern equipment may non understand what the engineering can make for them ; therefore supplying fewer chances for acquisition. Our civilization will besides impact the ability to larn from past happenings. The records of a catastrophe will ever be tainted by the civilization of the people bring forthing the record. This makes those reading past events to believe that it would merely go on in that specific background ( Moresco and Peek, 2013 ) . Distance is besides a hinderance to be learned from catastrophes. Hazard directors will ever inquire how an event that took topographic point 1000s of stat mis off and likely in another continent, will supply an penetration. When hazard directors impose their ain civilizations on others, the distant events appear unsuitable uneven, or unimportant. Differences in clime, architecture and geographics will impact the procedure of larning from catastrophes. The jurisprudence will germinate with clip and within a given civilization. When people, look behind at what happened at the clip when there was no jurisprudence, or, under different jurisprudence, they may neglect to understand what lessons are applicable in the present life ( Bonner, 2000 ) . Poverty and deficiency of instruction ; people with small or no instruction be given to be nescient about issues that do non hold immediate reverberations. They tend to take small or no precautional steps to assist forestall a catastrophe from reoccurring. Mentions Bonner, A. , 2000.Interrupting Barriers to Learn From Past Catastrophes.1st erectile dysfunction. Toronto: Allan Bonner Communications Management Inc.. Boulter, S. , Palutikof, J. P. , Karoly, D. J. A ; Guitart, D. , 2013..Natural catastrophes and version to climate alteration.1st erectile dysfunction. Cambridge, : Cambridge University Press. Elliott, et al. , 2000. Organizational behaviour ( Analysis ) .Management-Problem Solving,3 ( 21 ) . Katrina, N. d. a. a. H. , 2008.Harry Ward Richardson ; Peter Gordon ; James Elliott Moore.1st erectile dysfunction. Cheltenham, U.K. ; Northampton, : Ma: Edward Elgar, . Lawson, C. , 2013. Disaster Management A ; Risk Reduction. 13 March. Moresco, J. A ; Peek, L. A. , 2013. The manner forward: get the better ofing barriers to disaster hazard decrease.NATURAL HAZARDS OBSERVER,1 January.37 ( 3 ) . How to cite Barriers to Learning from Disaster, Essay examples

Oliver twist Analysis Essay Example For Students

Oliver twist Analysis Essay As one of the world’s greatest writers, Charles Dickens has written some of the greatest classics such as: Great Expectations, A Tale of Two Cities, and Oliver Twist. In these works, Dickens often uses past experiences in his life, and develops a character that goes through the same kind of struggles. He also uses much satire as comic relief, much like that of someone who is trying to hide behind a mask of joking. Such is the case with Oliver Twist. During his childhood, Charles Dickens suffered much abuse from his parents. Oliver Twist, the main character in the novel, while at the orphanage, also experienced a great amount of abuse. For example, while suffering from starvation and malnutrition, Oliver was chosen by the other boys at the orphanage to request more gruel at dinner one night. After making this simple request, the master aimed a blow at Olivers head with the ladle; pinioned him in his arms; and shrieked aloud for the beadle.The whole beginning of Oliver Twists story was created from memories which related to Dickens childhood in a blacking factory. While working in the blacking factory, Dickens suffered tremendous humiliation, which is expressed through Olivers adventures at the orphanage. In chapter one Dickens uses many techniques to show the Unattractive and repulsive truth. He uses techniques such as satire, sarcasm, pathos, humour and sympathy. In chapter one Charles Dickens makes an observation about Oliver being born in a workhouse. Born in a workhouse is in itself the most fortunate and enviable circumstance that can possibly befall a human being. In this quote Dickens is using sarcasm because being born in a workhouse is clearly a disadvantage. This comment is very sarcastic. As Oliver is born he is spoken of being a Burden and having being imposed upon the parish. Another way that Charles Dickens puts across that the children in the workhouses are not cared for properly and that they are seen as being a problem is the way that Oliver is handled as a newborn baby. It is very likely it will be troublesome. Give it a little gruel if it is says the doctor to the nurse. This is a very cold comment. It is as if Oliver is put to one side. One other point is that the nurse is drunk when she is assisting with delivering the baby. Hastily depositing in her pocket a green glass bottle, the contents of which she had been tasting in a corner with evident satisfaction. Being drunk whilst delivering the baby shows how unimportant Oliver is to the nurse. In chapter one Dickens criticizes the medical profession. The medical gentleman walked away to dinner this shows that the doctor can go off to dinner without a care for the starving children. In chapter two Dickens shows corruption. And she had a very accurate perception of what was good for herself. This comment is about the elderly female who looked after the children. The elderly female took a share of the money that was for looking after the children, she was very corrupt. Dickens describes how Oliver would be farmed to another workhouse. This shows the treatment of the children in the workhouses. The word farmed implies they are treated like some kind of farm animal. In chapter two sarcasm is also used to get Dickens point across, Twenty or thirty juvenile offenders against the poor laws rolled about the floor all day, without the inconvenience of too much food or too much clothing. This is a very sarcastic comment because there is no such thing as an inconvenience of too much food and clothing to children in workhouses. It cannot be expected that this very system of farming would produce any very extraordinary or luxuriant crop. This statement is an extended metaphor. This metaphor says that children who are brought up in a workhouse will not turn out to be any body special. Dickens believed that if you were born good then you can stay good no matter what your circumstance or environment you are in you are in. But nature or inheritance has implanted a good sturdy spirit in Olivers breast. On the other hand it is the same with evil. If you are born bad you will stay bad. .ud4cf90760443420fac2dbd43fffec87a , .ud4cf90760443420fac2dbd43fffec87a .postImageUrl , .ud4cf90760443420fac2dbd43fffec87a .centered-text-area { min-height: 80px; position: relative; } .ud4cf90760443420fac2dbd43fffec87a , .ud4cf90760443420fac2dbd43fffec87a:hover , .ud4cf90760443420fac2dbd43fffec87a:visited , .ud4cf90760443420fac2dbd43fffec87a:active { border:0!important; } .ud4cf90760443420fac2dbd43fffec87a .clearfix:after { content: ""; display: table; clear: both; } .ud4cf90760443420fac2dbd43fffec87a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud4cf90760443420fac2dbd43fffec87a:active , .ud4cf90760443420fac2dbd43fffec87a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud4cf90760443420fac2dbd43fffec87a .centered-text-area { width: 100%; position: relative ; } .ud4cf90760443420fac2dbd43fffec87a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud4cf90760443420fac2dbd43fffec87a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud4cf90760443420fac2dbd43fffec87a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud4cf90760443420fac2dbd43fffec87a:hover .ctaButton { background-color: #34495E!important; } .ud4cf90760443420fac2dbd43fffec87a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud4cf90760443420fac2dbd43fffec87a .ud4cf90760443420fac2dbd43fffec87a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud4cf90760443420fac2dbd43fffec87a:after { content: ""; display: block; clear: both; } READ: English Literature - Blood Brothers EssayCharles Dickens makes a contrast when Oliver is going to see the board. All the men on the board are fat and healthy and Oliver is malnourished and unhealthy. Particularly fat gentleman with a round red face. This comment gives an image of a big fat man with enough or too much food in his belly. In chapter 47 Dickens creates a very evil picture of criminals. With face so distorted and pale, and eyes so bloodshot, that he looked less like a man, than like some hideous phantom, moist from the grave. Dickens uses personification in this chapter. Dickens makes a very negative picture of Fagin and Sikes. Dickens makes Sikes seem inhuman and cold blooded by the way he describes Fagin treats Nancy. Another way he does this is when he is describing Fagin. Fangs as should have been a dogs or rats. Dickens associates Fagin and criminals with filthy animals. When Fagin is telling Sikes about Nancy he uses repetition to wind Sikes up even more. Which she did. Also when Sikes is about to go off to find Nancy, Fagin says You wont be too violent, Bill? . This is reverse psychology because Fagin knows that this will make Sikes do the opposite and be very violent. When Sikes is about to kill Nancy there is a great amount of melodrama there. Nancy is associated with God and when she is pleading she builds up a lot of sympathy because she is defenceless against Sikes. Dickens wanted to portray the unattractive and repulsive truth of existence for the dregs of life and the poor. Charles Dickens did this very well and has used many ingenious techniques to do this. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Oliver Twist section.