Looking for essays on it is necessary to? We have thousands of essays on this topic and more.
Demand is "the quantity of a commodity that will be required at any given price over some given period of time". "For the majority of the goods and services, experience shows that the quantity demanded will increase as the price falls." (Stanlake 155) This characteristic can be shown by a demand curve. A demand curve is a graphical representation of the data in table with values of demand called a demand schedule. A good that is in greater demand do to income increases is known as a normal good. A inferior good is a good that is in less demand even though the income increases. When this situation occurs the demand curve is positive sloping. A giffen good is a special type of inferior good where demand increases when price increases. The graph below is a sample demand curve, where the demand schedule for the quantity of toilet paper demanded is graphed.
From this graph we can determine how many rolls of toilet paper will be purchased at what price. As can be seen from looking at this graph, it is negatively sloping. As one variable gets larger the other will become smaller, or when the price drops more is purchased. The whole demand curve "theory" is based on human behavior. It is logical to say that people will purchase more of a product when the price is cheaper.
In reality, if the price of a good rises the income (or assets) of the consumer will decrease. The people would not be able to buy the same goods as before because they cost more. Consumers can do two things; if the good is a normal good (previously defined), they would buy less of the good; if the good is an inferior good, they would buy more of the good. Thus, the income effect can be defined in this statement: When the price of a good falls, the expected outcome would be that the consumers would buy more because they have the money and can afford to buy more.
The slope of the demand curve can be explained in terms of the income and substitution effects.
If the price of a good falls consumers would buy more of that good and less of others. If the price of a good rises people would buy less of that good and more of another because the good is more expensive than others. The outcome of these would be a switching of purchases towards the cheaper product. When there is another similar good that is in price competition with an existing good, it is known as the substitution effect. Most demand curves slope downwards from left to right and therefore obey the general law that more goods would be demanded at lower prices. However there are certain demand curves that do just the opposite and slope in the other direction, which will be explained later.
For a normal good the substitution and income effects both go in the same directions. A rise in the price reduces in the quantity demanded because the price has risen. For a inferior good, the substitution effect and income effect go in opposite directions. Although, the substitution effect is stronger than the income effect because with a inferior good, when the price rises it leads to a fall in demand. When a good changes in price, the quantity demanded will be changed by the sum of the substitution effect and the income effect.
There are, however, cases that do not follow this path of the demand curve. From what had been previously explained, there have only been demand curves with a downward slope. This is not the case with all demand curves. There are a few cases that do the opposite and have an upward slope. An example of this graph is shown below.
The most important example of this exception in demand curves is provided by the demands for food such as bread, rice, corn, and potatoes in countries with very low living standards. Most of the families income would go towards food. In conditions like these, an increase in the price of a food could lead to an increase in the quantity demanded. If the families income ... more
Find essay on It Is Necessary To
Choosing a career is very important in a persons life. One needs to think about the things that interest them and what kind of lifestyle they want to have. Some things a person should think about are what qualifications are needed, what type of training is necessary, and the future need of the career they choose. Some other things to consider would be how much money they will make, what is the probability of advancement, and does the career satisfy their need for an enjoyable life.
One career in the technological industry is a computer engineer. A computer engineer is a person who designs hardware or software for computers. Computer engineers do research to determine what people want and need to make their lives easier. Computer engineers sometimes work on a team to think of new ideas and concepts. Engineers generally should like activities of a technical nature, problem solving, and math. An engineer should probably like working with numbers and thinking logically.
A computer engineering career requires the most education of any career in the computer industry. Some school subjects that are helpful in preparing a person who wants to become a computer engineer are algebra, geometry, calculus, trigonometry, computer science, and English. Computer engineers need to be able to think logically, communicate ideas clearly, and work well in a team environment. To become a computer engineer a degree in computer science, engineering, or physics is required. Computer engineers spend an extended amount of time typing. A computer engineer should also expect to work long hours and enjoy working with new ideas and concepts. Becoming a proficient typist would be something to consider when a person is interested in becoming a computer engineer.
In 1947 Howard Aiken, an engineer, predicted six computers would satisfy the computing needs of the U.S.. By the year 1955 244 computer systems were in use and by 1984 U.S. businesses and individuals purchased over two million personal computers. By 1994, shipments of over 47 million personal computers were made world-wide. The use of personal computers has increased rapidly over the past half-century and therefore the need for new hardware and software will keep the need for computer engineers to continue producing new products. The first position for a person becoming a computer Engineer is a Junior Computer Engineer. The Second level is a Senior Computer Engineer, the third level is a Lead Computer Engineer. The top level for a computer engineer is a Manager of Computer Engineers. Some benefits may be paid vacations and holidays, insurance, retirement plans, and sick pay depending on the employer.
Computer engineering is an exciting career to get into. Working in the technological industry is an interesting field due to the enhancements that it makes in everyones lives. Choosing a career is a very important decision to make. One should consider what lifestyle it is they want to live and then pick a career accordingly. Interviewing some people in fields that interest you would be a good way to go about narrowing down the choices there are.
What long should essays be?
Generally, the length requirements are indicated in your assignment sheet. It can be words, paragraphs, or pages given as a range (300–500 words) or a particular number (5 pages). If you are not sure about your essay’s length, the number-one tip is to clarify it with your tutor. Also, if you’re not sure how to write an essay, we have a detailed guide on that topic, just follow the link.
What makes an effective essay?
An essay should have a single clear central idea. Each paragraph should have a clear main point or topic sentence. ... An essay or paper should be organized logically, flow smoothly, and "stick" together. In other words, everything in the writing should make sense to a reader.
What should be included on an essay?
A basic essay consists of three main parts: introduction, body, and conclusion. Following this format will help you write and organize an essay. However, flexibility is important. While keeping this basic essay format in mind, let the topic and specific assignment guide the writing and organization.
What They say About Free Essay
I also want to thank http://freeessay.com , pantip and wikipedia for make it happens. #storytelling
I: Atomic Bomb 2
Atomic Bomb 2 The Manhattan Project The Manhattan Project was and is still one of the most secretive projects ever created in United States history. The purpose of the Manhattan Project was simple: to build; test; and unleash its power if necessary. Robert Oppenheimer and General Leslie Groves were the two men put in charge of this mission. These two men along with the top scientists from around the country were brought together to construct the most deadliest thing known to man. The project ori...
T: Demand Curves
Demand Curves Demand is the quantity of a commodity that will be required at any given price over some given period of time. For the majority of the goods and services, experience shows that the quantity demanded will increase as the price falls. (Stanlake 155) This characteristic can be shown by a demand curve. A demand curve is a graphical representation of the data in table with values of demand called a demand schedule. A good that is in greater demand do to income increases is known as ...
: computer engineers
computer engineers COMPUTER ENGINEERS Choosing a career is very important in a persons life. One needs to think about the things that interest them and what kind of lifestyle they want to have. Some things a person should think about are what qualifications are needed, what type of training is necessary, and the future need of the career they choose. Some other things to consider would be how much money they will make, what is the probability of advancement, and does the career satisfy their ...
I: Treaty of Versailles
Treaty of Versailles The end of World War I was finalized by the signing of the Treaty of Versailles on June 28, 1919. It was signed by Great Britain, France, Italy, and Japan but not the United States, as the U.S. drafted its own treaty with Germany in 1921. Many historians argue that the Treaty of Versailles was the major cause of World War II which occurred twenty years later. On the Treatys most superficial level, the extreme punishment and fines that were levied by the Allied Powers on t...
S: Confucianism, Daoism, and Legalism
Confucianism, Daoism, and Legalism Amidst the chaos of political instability and constant warring of the Zhou era, arose many intellectual thinkers that brought such a profound impact in the fields of politics, religion, and philosophy. Even to this day, their influence can be seen on the many matters of China. Confucianism became the paramount school of thinking and later significant philosophies such as Daoism and Legalism gained immense recognition as well. Each party had their own proposals ...
: Middle Ages
Middle Ages The history of the modern world derives from thousands of years of human history. Embedded in its history are the many eras of man which have constructed our modern learning, art, beliefs, and order. The middle ages, although represented as dark, backwards, and idle, were in fact a bridge linking the classical and modern world. Medieval society may not have been in a sense glorious, but the era of itself was a prime foundation of the modern worlds newfound stability, a reviv...
N: The Death of woman Wang
The Death of woman Wang The Death of Woman Wang, by Jonathan Spence is an educational historical novel of northeastern China during the seventeenth century. The author's focus was to enlighten a reader on the Chinese people, culture, and traditions. Spence's use of the provoking stories of the Chinese county T'an-ch'eng, in the province of Shantung, brings the reader directly into the course of Chinese history. The use of the sources available to Spence, such as the Local History of T'an-ch'eng,...
E: Great Wall
Great Wall The Great Wall of China To the northwest and north of Beijing, a huge, serrated wall zigzags it's way to the east and west along the undulating mountains. This is the Great Wall, which is said to be visible from the moon. This massive wall has not only been one of the Ancient Seven Wonders of the World, but it has also been inspiration for many artists, and writers. The building of the Great Wall is one of the biggest tragedy?s, but through this tragedy arose triumph with the wall, be...
C: College and high school
College and high school A Changing Lifestyle Last August, as a high school senior, I made a big transition in my life. Not only did I pack up my things and move to another city, I moved with the intention of acquiring higher education. I made the next step in my life by beginning college. High school life as I knew it was over, and my life would be new and different upon my arrival at school. My room, schedule, motivation, school life, money availability and parental influence has changed greatl...
Breaks HYDRAULIC BRAKES Brake Hydraulic System Principles & Service Tips. Author/s: Bob Freudenberger Issue: Sept-Oct, 1999 Everyone who works on brakes MUST know these concepts and procedures In the early days of the automobile, some very clever engineering was employed to apply brakes mechanically. For example, the Italian Bugatti routed the cables over the top of the front axle so that the twisting action generated by stopping added force to the shoe cam lever. No matter how ingenious the des...
S: Lum and Abner
Lum and Abner Hendricks 1 Lum and Abner What is the first thing you think of when you here of the 1930s, Amos and Andy or how about Lum and Abner? Lum and Abner werent really expected to do anything with their lives; they were just having fun trying to make something of them selves. They became two of the most famous people from Polk and Montgomery counties: Chet Lauck- Lum, Norris Goff- Abner, and the history of Lum and Abner. Chester Lauck was born in Alleene, Arkansas, February 2, 1902....
S: dont get burned out
don't get burned out Dont Get Burned Burnout. It happens to everyone, everywhere, everyday. Athletes -young, old, professional, amateur, male and female- all experience burnout in different forms and degrees. Burnout is defined as the physical, emotional, and psychological reaction to intense pressure to fulfill obligations, whether they be sports or otherwise. Simply put, people get tired and worn out because they often take on the responsibility of doing too much. Burnout is most common amo...
A: Enlightenment Ideas And Politcal Figuers Of The Er
Enlightenment Ideas And Politcal Figuers Of The Era Intro to European History 3-3-99 Enlightenment Ideas and Political Figures of The Enlightenment Era The Enlightenment of the 18th century was an exciting period of history. For the first time since ancient Grecian times, reason and logic became center in the thoughts of most of elite society. The urge to discover and to understand replaced religion as the major motivational ideal of the age, and the upper class social scene all over Europe was ...
R: Affirmative Action
Affirmative Action Affirmative action works. There are thousands of examples of situations where people of color, white women, and working class women and men of all races who were previously excluded from jobs or educational opportunities, or were denied opportunities once admitted, have gained access through affirmative action. When these policies received executive branch and judicial support, vast numbers of people of color, white women and men have gained access they would not otherwise hav...
Y: Religion Effect On Politics
Religion Effect On Politics The belief systems of the modern world have helped determine the policies and politics of nations around the world. For centuries before, and almost definitely for decades after now, there will be disputed between people and countries on account of their faith. Religions have started wars, ended them, impacted, and persuaded people. Needless to say, beliefs are very influential on the world today. People of different faiths dont only fight over their basic beliefs an...
: Telecommunications Advances
Telecommunications Advances Today, telecommunications technology affects lives to a greater degree than ever before. Communication has evolved over many years from the earliest attempts at verbal communication to the use of sophisticated technology to enhance the ability to communicate effectively with others. Every time a telephone call is made, a television is watched, or a personal computer is used, benefits of telecommunication technologies are being received. The concept of telecommunicatio...
T: Genetically Altered Food
Genetically Altered Food Genetic modification of organisms in general is a biotechnological process that forces genes to behave according to certain characteristics. Changing characteristics of organisms is based on changing their DNA (tech deoxyribonucleic acid; the acid which carries genetic information in a cell). It is being used for modifying genes in plants, animals or micro-organisms. It is being also used especially with food in order to improve the nutritious quality, make less use of c...
O: Martin Luther And Bible Translation
Martin Luther And Bible Translation Martin Luther was born on November 10, 1483. He lived on a farm where his parents raised seven children. He began his schooling at age four and he later entered the monastery when he was twenty-two in 1505. After entering the monastery a good friend of Luthers passed away. This traumatic experience made Luther start thinking about life, death, and his destiny. Pondering these new thoughts led Luther to focus on Christian studies. On April 4, 1507 Luther was o...
Macbeth comperitive essay
Macbeth comperitive essay Macbeth was one of King Duncans most noble, and honored men. His wisdom and bravery are practically unmatched and his loyalty was untouchable. Macbeth was the ideal noblemen to a King until Lady Macbeth got in the way. Paying no attention to honor, decency or the consequences, Lady Macbeth brought forth courage to Macbeth and with it, the crown. Now having the responsibility of all Scotland, Lady Macbeth was finally happy, and so thought was Macbeth. Lady Macbeth, due ...
America America is the stereotype for countries wounded by salutary neglect and looking to set themselves free. All countries do not decide to become separate from their mother overnight, it is a long, drawn-out process that requires many actions and reactions, plus unity and nationalism. The American Colonies were strained to the limit before they became one to battle injustice. England had put forth too many acts and duties against it's American colonies for them not to rebel. For example, the...
In search of excellence...
In search of excellence... In Search of Excellence Knowledge about organisational behaviour has become very important to a manager's performance and success. Therefore, it is not surprising that writers often claim to have the information that managers need if they are to excel in their jobs. In Search of Excellence is one of the most well known books of this type. In the book, Peters-and Waterman outlined seven principles that they claimed to be excellent management tactics and a 7-S Framework...
Emperor Constantine I
Emperor Constantine I The emperor Constantine has been called the most important emperor of the late antiquity. The many great events of his reign laid foundations that would affect the future of Europe and Western Civilization for centuries to come. His recognition and support of Christianity was one of the most important moments in world history. Moving the government of the Roman Empire to Constantinople and founding New Rome was one of the most significant decisions ever made by a Roma...
Cats vs. dogs as housepets
Cats vs. dogs as housepets A dog is a mans best friend. That common saying may contain some truth, but dogs are not the only animal friend whose companionship people enjoy. For many people, a cat is their best friend. Despite what dog lovers may believe, cats make excellent housepets. If everyone would adopt just one spayed cat from their local animal shelter there would no longer be a problem with overpopulation of cats in the United States. In the first place, people enjoy the companionship...
Facts that lead to poverty: th
Facts that lead to poverty: th Poverty occurs in most parts of the world. Nevertheless, the more serious and problematical poverty takes part in the third world and the southern parts of the globe. First of all, we have to clearly define the word poverty. In a broad sense, it means that people within this poverty region are poor or have a lower average income per capita than other regions. To a deeper approach, we refer poverty as people have low educational backgrounds, lack of food suppl...
A public relations proposal for the american egg b
A public relations proposal for the american egg board A Public Relations Proposal for the American Egg Board, 1997 AN EGG IS ALWAYS AN ADVENTURE - OSCAR WILDE Eggs should be avoided because they are high in cholesterol. This is the biggest MYTH that has cracked the good reputation of the egg in the past years. In 1945, the number of eggs consumed per capita each year was 402. Then the news broke - scientists discovered a link between high cholesterol levels in the bloodstream and an increased...