Methods of Study in Economics Essay Example for Free

Methods of Study in Economics Essay This method is also called as abstract, analytical and priority method. Under this method, laws are deduced in a logical manner. On the basis of certain fundamental assumptions or accepted axioms (principles) or truths which have been established and handed down from generation to generation, the required conclusions are found out. This method is called as abstract since it is based on abstract reasoning and not actual facts. However, actual situation may differ from what deductive logic suggests. For example, it is assumed that the man is rational and on the basis of this it is deduced that he will buy cheap and sell dear ones. However, in actual situation this may not happen because of the absence of proper knowledge and market conditions. The principle steps in the process of deriving economic generalizations through deductive logic are: 1.perception of the problem; 2.defining the technical terms and making the appropriate assumptions; 3.deducing hypothesis and; 4.testing of hypothesis deduced. Through the use of deductive method, many theories and generalizations have been established in economics. It is called as inverse relationship between the price and quantity demanded, the direct relationship between the price and quantity supplied etc. However, this method also suffers from certain handicaps such as (i) assumptions generally turn out to be untrue or partially true; (ii) valid conclusions cannot be drawn in the absence of proper knowledge of the whole situation and (iii) it is dangerous to claim universal validity for the economic generalizations so deduced. Inductive method: According to this method, conclusions are drawn on the basis of collection and analysis of the facts which are relevant to the inquiry. The logic in this case proceeds from the particular to the general. The generalizations are based on observation of individual examples. The principle steps in this method are †¢Perception of the problem; †¢Collection, classification and analysis of data by using appropriate statistical techniques; †¢Finding out the reasons for the relationship established through statistical analysis and to set rules for the verification of the principles. Many researches in macroeconomics have been obtained through inductive method such as principle of acceleration describing the factors which determine investment in an economy, the nature of consumption function describing the relationship between income and consumption etc. Inductive method is increasingly being used on account of the under mentioned facts: †¢Statistical induction leading to precise, exact and measurable conclusions; †¢It underlines the importance of relativity of economic laws and †¢It shows that generalizations are valid only under certain conditions. †¢However, this method suffers from †¢Risk of hurried conclusions having being drawn from an insufficient number of facts; †¢Difficulties involved in the collection of facts; †¢The fact that observation and experimentation have very limited application in a science that deals with human activities. Reference: http://classof1.com/homework-help/economics-homework-help

Islam vs. Christianity Essay Example for Free

Islam vs. Christianity Essay Christianity and Islam have many similarities and can easily be compared to one another. Both trace their roots to Abraham. Both believe in prophecy, Gods messengers (apostles), revelation, scripture, the resurrection of dead, and the centrality of religious community. This last element is especially important. Both Christianity and Islam have a communitarian dimension: what the church is to Christianity the umma is to Islam. Despite these significant similarities, however, these two world religions have a number of significant differences as well. I will discuss 3 topics and go into detail about their moral teachings, roles and responsibilities (duties) and social justice issues, I will also be discussing their similarities and differences. The prophet Muhammad said: I have been sent to perfect the morals. The Quran is the criterion (furqan). Anything that contradicts the Quran is not from Islam. When it comes something like divorce in the Islam religion the bible says {2:231} And when you divorce women and they reach their prescribed time, then either retain them in good fellowship or set them free with liberality, and do not retain them for injury, so that you exceed the limits, and whoever does this, he indeed is unjust to his own soul;†¦Ã¢â‚¬ ¦ this means that God encourages the husband and wife to appoint arbitrators as the first step to aid in reconciliation in the process of divorce. If the reconciliation step fails, both men and women are guaranteed their right to divorce as established in the Quran, but the ques tion lies in what is the procedure for each. When the man initiates a divorce, it is known as talaq. However it is different in the Christianity religion; it says that the ending of the legal union between two married people is called divorce. Throughout most ages and societies forms of divorce have existed. Divorce is an unnatural act. It states in Matthew 19:8-9 ~ 8 Jesus replied, â€Å"Moses permitted you to divorce your wives because your hearts were hard. But it was not this way from the beginning.   I tell you that anyone who divorces his wife, except for sexual immorality, and marries another woman commits adultery.† Also Christians believe in the concept of Original Sin which means that human beings are born as sinners, bearing the burden of the Original Sin of Adam and Eve. Muslims do not believe in the Original Sin for 2 main reasons; In the Quran, God forgave Adam for what he has done, and according to the Quran, no  one should be made to bear the burden of someone elses sin or mistake because it is unfair. A similarity that the Islam religion and Christianity religion have is People should follow the Ten Commandments and the moral teachings of the prophets. Islam, being religion of nature, understands that human beings are born with varying gifts. As they differ in their bodies and their features so they differ in their mental and other capabilities. Islam ensures just and equitable distribution of wealth among the people and, on the other hand, provides socia l security to the poor and the destitute in the form of basic necessities of life. Besides that, Islam also protects the weak from the economic exploitation by the strong. All there are various aspects and manifestations of what is called Islamic social justice. In Christianity, what then, is social justice in Biblical terms? Justice and righteousness are part of a way of life, which God expects of us as His people (see e.g. Micah 6:8; Ps. 11:7; 1John 3:7). This stems from the kind of character, which we possess, and is in turn the reflection of what God Himself is and how He acts (1John 3:7). Social justice is essentially the outworking of this way of life in our relationships with others. It is not an option that we may accept or avoid at our choice; it is a necessary part of our practical Christian living. Peace is central to these 2 faiths. This is reflected historically in their use of similar greetings meaning peace be upon you: pax vobiscum in Christianity, and salaam alaikum in Islam. Often, however, the greeting of peace has been meant primarily for members of ones own faith community. Each religion has its own roles and responsibilities, the Islam religion have there responsibilities for husbands and rights of the wife; there are four main rolls for wife’s in marriage, the first is Obeys husband on matters not against Islam, the second is Ensures the conjugal rights of the husbands; this means that With respect to intim acy, a wife may not deny herself to her husband. As this is one of the reasons why Islam legalizes marriage, because in Islam sexual intimacy is only applicable strictly to husband and wife. The third is Protects husband’s honor and property this includes to not receive anyone in his home whom he does not like. In case, she’s entrusted with any funds, she must discharge her duty wisely and thriftily. The fourth is to manage the household and upbringing of children’s welfare. The husband’s roles and responsibility is to provide  mahr (dowry), Serves as protector and the guardian of the wife, and Treats wife with kindness and fairness, which means to never throw vulgarity at the wife. In Christianity besides of the mans role of providing for the family and the women’s role says the ability to properly manage the household it says God created for husband and wife to share in the same goals but have different roles. Together they compliment one another and work together in harmony. A similarity is that Christianity and Islam believe that people should follow the Ten Commandments and the moral teachings of the prophets. When discussing differences between Christian and Islam worship, we should also note that Muslims are very attentive not just to the interior aspects of worship but to the external aspects as well. In this Muslims have much more in common with Eastern Christianity than with Western Christianity, especially Protestantism. Like E astern Christians, Muslims use their whole body in prayer. Both groups, for instance, make prostrations before God in their worship. This research project has helped/shape and strengthens my own views on another faith and my own faith, which is Christianity, I have earned a lot about Islam and I never knew that it could have some similarities to the Christian faith. When it comes to the principals, values and traditions of Christianity that I will pass on to my children and hopefully they can pass it on to theirs to keep the Christian faith going on for more generations.

Industry For Rivalry Among Existing Competitors Marketing Essay

Industry For Rivalry Among Existing Competitors Marketing Essay The barriers to entry are pretty high for new entrants, in fast food industry McDonalds they have achieved high economies of scale and have better access to raw materials and distribution channels. so new entrants may find that a high cost of investment is required in securing plant and machinery. So these factors will be threats of new entries for new entrants. But in fast food industry is gaining and presenting an increase in sales at the mean time because of their affordable prices with credit crunch, it makes it attractive to new business. BARGAINNG POWER OF BUYERS In fast food industry McDonalds is maintain the quite low bargaining power of buyers. In this case perceived to be pretty low risk for McDonalds as consumers have little control over the variations in the product offerings, price, and place of distribution. However, Mother company should always take place and any necessary adaptation made. The company should keep customers satisfied, as switching cost is quite low and the chances of switching to another brand in case of dissatisfaction is relatively low. But for that possibilities are very low because McDonald has created its image among the consumers through brand name, differentiation, quality, quantity, environment, customer care, promotions and uniqueness. BARGAINING POWER OF SUPLIERS In this case Supplier power is quite high in this fast food industry because there is lesser number of suppliers, and customers cannot switch to other brands because every brand has created its own image in the consumers mind, thats why consumer cannot switch to other brands. On the other hand, McDonald has established long term relations with its suppliers and McDonalds has a great deal of influence over their suppliers, due to the fact that it supports them and trains them, the threats from suppliers are quite low. Due to the scale of McDonalds operations, suppliers are keen to maintain their contracts with company. McDonalds internationalization could also mean greater sales potential for suppliers. THREATS FROM SUBSTIUTE PRODUCTS Substitutes product means, which can do the similar function as the original product can do. In this area It could be argued that the threat of substitutes to McDonalds comes from pizza hut, KFC, Din more, burgers king and other domestic fast food firms. However, most of the above firms do not have the same stranded of convenience that McDonalds provide, and People going to McDonalds for eating and entertainment. This makes the list of substitute products quite long specially ENTERTAINMENT ADMOSFIER. INDUSTRY FOR RIVALRY AMONG EXISTING COMPETITORS Every firms looking for competitive advantage. It is the forces that holds their company above others in their business and gives them strength of survive in market. Among the every organizations competition is based on the nature of business. The concentration of firms within the fast food business is low due to the established presence of McDonalds, Burger King, Pizza Hut, Dine More and KFC. However, in certain markets, McDonalds will face competition from established competitor fast food outlets. for example McDonalds and KFC, and they provide equally attractive products and services, If buyers dont get customer satisfaction from McDonalds, theyll go to KFC or somewhere else so they should to be continually satisfied and also they should be very innovative and unique in the products at regular intervals to attract and maintain the customers. RELATIVE POWER OF OTHER STAKEHOLDERS In every business firms or industry has stakeholders.  It is very important that multinational companies highly consider and value their general public or stakeholders. Stakeholder for McDonalds Sri Lanka includes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Customers   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Franchise Holders   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Employee Suppliers Community groups Share holders Investors-  since McDonalds is a public company, our shareholders are key stakeholders. Shareholders, its a one of the pretty broad category but not quite as broad. Shareholders can be individuals, companies, pension funds, mutual funds, etc. Every investor is managed on their own and with company support as well. McDonalds guarantee the investors or shareholders an income that is better than what they could get it from any other place in fast food industry. Employees-  , McDonalds employees rely on us for income and benefits ,The employees produce and sell the products and services to the external consumers. Basically, employees are selling a big part of their lives and must receive reasonable pay and especially Managers are assured a good salary if they can develop the firm and make it profitable. They regularly work for 50 to 60 hours in a week. Community-  McDonalds needs the community to survive in competitive market. Because the community builds path way, provides electricity, security, communication and technology and all. In turn, firm are obliged to keep the communitys environment clean and green. Suppliers-  if any firms that cannot survive without good suppliers. McDonalds must work with their suppliers with good relationship and pay them a fair price for their products and services. And also already McDonald has established long term relations with its suppliers and McDonalds has a great deal of influence over their suppliers. Customers- consumers are one of the important stakeholders, McDonalds should provide fast, efficient, good food and customer services on a consistent basis. Then only firm can successfully survive.

Certainty in Descartes Meditations on First Philosophy Essay -- Philo

Certainty in Descartes' Meditations on First Philosophy Renà © Descartes was the first philosopher to raise the question of how we can claim to know anything about the world with certainty. The idea is not that these doubts are probable, but that their possibility can never be entirely ruled out. If we can never be certain, how can we claim to know anything? The First Meditation of Meditations on First Philosophy, subtitled "What can be called into doubt," opens with the Meditator reflecting on the number of falsehoods he has believed during his life and on the subsequent ability of the body to deceive him. Seated alone by the fire, he resolves to demolish former opinions and rebuild his knowledge on more certain grounds. The Meditator reasons that he need only find some reason to doubt his present opinions in order to prompt him to seek sturdier foundations for his knowledge. Rather than doubt every one of his opinions individually, he reasons that he might cast them all into doubt if he can doubt the foundations and basic principles upon which his opinions are founded. ... Certainty in Descartes' Meditations on First Philosophy Essay -- Philo Certainty in Descartes' Meditations on First Philosophy Renà © Descartes was the first philosopher to raise the question of how we can claim to know anything about the world with certainty. The idea is not that these doubts are probable, but that their possibility can never be entirely ruled out. If we can never be certain, how can we claim to know anything? The First Meditation of Meditations on First Philosophy, subtitled "What can be called into doubt," opens with the Meditator reflecting on the number of falsehoods he has believed during his life and on the subsequent ability of the body to deceive him. Seated alone by the fire, he resolves to demolish former opinions and rebuild his knowledge on more certain grounds. The Meditator reasons that he need only find some reason to doubt his present opinions in order to prompt him to seek sturdier foundations for his knowledge. Rather than doubt every one of his opinions individually, he reasons that he might cast them all into doubt if he can doubt the foundations and basic principles upon which his opinions are founded. ...

John Locke :: Empiricists, Empiricism

There he lay as a normal infant, red and whimpering. How does the mind of a baby grow to become one of the greatest political philosophers the world has known? From his response to the Puritan upbringing by his father, to â€Å"The Reasonableness of Christianity†, which John Locke published just five years before his death, John Locke's life demonstrates how God uses a mind dedicated to honest pursuit of ultimate Truth. On August 9, 1632 he was born in the village of Wrington in Somercast. His father was a country solicitor and small landowner who fought in the English Civil War on the Puritan side. During his early childhood, the king, Parliament, Protestants, Anglicans and Catholics all were in conflict with each other which lead to the civil war in 1640. In 1646 Locke attended Westminster School in London and graduated in 1652. That same year he began attending Oxford University. There he learned Latin, logic and metaphysics. Finally in 1656 he completed his B.A.. However he did not leave the school, but tutored there for 3-4 years first a lecturer of Greek in 1658 and then as lecturer of rhetoric in 1663. That year he decided to become a doctor and began studying. During this time, the ideas of Robert Boyle and Descartes heavily impacted him and applied their ideas to philosophy. As he was working to become a doctor, Locke met Lord Ashley who would later adopt the title of Earl of Shaftsbury. Lord Ashley employed him as a personal physician but he would also serve him as a secretary, political researcher, and political advisor. Through Lord Ashley, Locke became connected with the king of England, Charles II. When Charles II formed a colony in America, he gave Locke the duty of writing up a constitution. Later this constitution would become known as the Carolina Constitution and would be used by America’s Founding Fathers as a model for their Constitution. In the constitution he included ideas from the Westminster Confession as well as principals such as the Creator-Redeemer distinction (the idea that the government can control men’s outward behavior but should let God rule their hearts) and Liberty of Conscience (the idea that it is wrong for the government to force citizens to act against their consciences). Furthermore he included religious freedom and granted protection of the law to people 18 or older who were members of a church or claimed to be a believer in a higher power.

The Benefits of Community Service Essay examples -- Service-Learning E

In 2010, â€Å"over 20 billion hours of volunteer service were reported† in the United States (Hoffman 418). For such an outstanding amount of time, only 26.7% of the population reported volunteer hours (Hoffman 418-9). Philanthropy, a desire to improve the material, social, and spiritual welfare of humanity, especially through charitable activities, is dependent on the altruistic values of the American society. Philanthropy is a general love for all of humanity that manifests itself in the form of community service. Altruism is the foundation of volunteering; volunteering is the foundation of community service, and community service is the foundation of charity. Altruism is the belief that acting for the benefit of others is right and good. Volunteering is the act of doing work out of choice, out of free will, and altruistic people feel joyous when serving the community. The importance of volunteering comes from giving up time to help a charity or the community. Community service can be vital to keeping connected to others that are in the same area. August John Hoffman, professor of psychology at California State University Northridge, believes â€Å"Community service work and civic engagement are described here as any voluntary activity performed by community members for the overall improvement of the community and society† (418). Charity can take many forms; it can be donations of money, goods, or time, and time is the most valuable asset a person has to offer. It is not easy to convinc e people to give up their precious time for community service; however, people should take part in community service because it elevates the community and has a positive impact it has on both the helped and the volunteer. It is no secret that community... ...ring Students in a Service-Learning Clinical Supervision Experience: An Educational Case Report.† Physical Therapy 91.10 (2011): 1513-1524. Academic rch Complete. Web. 9 Apr. 2012. Martin, Mary Beth. Personal interview. 20 Apr. 2012. Romano, Joyce C, Geraldine Gallagher, and Sanford C Shugart. â€Å"More than an Open Door: Deploying Philanthropy to Student Access and Success in American Community College.† New Directions for Student Services 130 (2010): 55-70. Academic rch Complete. Web. 9 Apr. 2012. Sukiennik, Diane, William Bendat, and Lisa Raufman. The Career Fitness Program: Exercising Your Options. 9th ed. N.p.: n.p., n.d. Print. Vogel, Amanda ] L, and Sarena D Seifer. â€Å"Impacts of Sustained Institutional Participation in Service-Learning.† Gateways: International Journal of Community Research & Engagement 4 (2011): 186-202. Academic rch Complete. Web. 9 Apr. 2012.

Research funding of medical product development Essay

Alzheimer’s disease is one of the most common ailments in adults especially the old. Over 26.6 million people around the world are affected by the disease with an increase expected in the coming years. So far, there has been no established cure for the disease whose results are pain and suffering in the patients and death. With these facts, research that can lead to success in tackling this global calamity would be instrumental and welcome. This makes it critical and worth for any form of funding to be provided in any research towards elimination of the same. The document evaluates the various forms of funding available which would help in the research to develop a novel compound critical in controlling and even curing the disease. Discussion National governments are one of the biggest sources of funding for clinical research. Various governments set aside some money in their Health sector budget of which a big portion includes money for research. The government funding programs operate locally or internationally (Murray & Johnston, 2010). An example in national government funding is the NIH (National Institute of Health) which through its various sections such as the National Human Genome Research Institute provides funding for research projects in America (Kulakowski, 2006). For the case of research in Alzheimer’s disease, national funding is through the National Institute on Aging. Government funding is beneficial in that they are not discriminative compared to funding from other sources such as organizations. However, one disadvantage is that the funds may take long thus jeopardizing the research (Kaitin, 2010). Associated closely with national governments and also a source of funding are government agencies. Agencies operate both nationally and internationally (Shaw, 2005). An example of such an agency is the Department of Energy in America. The agencies provide the funds to different sub-divisions of research areas, for example, the Human Genome Project section which may assist in developing the compound identified (Boss & Eckert, 2006). With their international operations, the benefit is that the agencies will fund any project that fulfills its requirements. One disadvantage however is that agencies are prone to manipulation and thus may be biased in funding projects due to political differences (Smith, 2006). Another source of funding for scientific research projects are foundations. These entities have a wide range of research requirements and interests (Hulley, 2007). Some of the foundations will be specific in the areas they want to fund such as the American Cancer Society that focuses on Cancer. Others are open for any research in any area such as the Howard Hughes Medical Institute which provides funding for various areas, for example, Alzheimer’s disease (Reinhart & National Research Council, 2006). Brightfocus Foundation and Alzheimer’s Research Foundation are some of the foundations that focus on funding Alzheimer based research (Financing roundup, 2008). The benefit in using foundations is that they span a wide range of research areas thus a big chance of being funded (Clinical research in Finland in 2002 and 2007, 2013). There is a disadvantage in that funding from foundations is subject to misappropriation through vices such as corruption affects the operations (C ambron, 2008). Many individuals have been known to offer private funding for research projects all over the world. Wealthy individuals are now funding scientific research institutions or individual based ones (Page, 2012). Armand Hammer, former chairman of Occidental Petroleum Corporation is an example. For his case, he provided funding for cancer related projects (Lee, 2010). Another example is Ronald Perelman and Lilly Tartikoff who funded the Revlon/ UCLA women’s Cancer Research Program under the leadership of Salmon (Bazell & Bernstein, 1998). One advantage of funding from individuals is that there are no rigorous processes involved in obtaining the funds like is the case with government agencies and foundations. A disadvantage in using the same is that individual funding may be withdrawn when differences arise thus stalling the research (Kullmann, 2006). References Bazell, R., & Bernstein, A. (1998). Her-2: The making of herceptin, a revolutionary treatment for breast cancer. New York: Random House. Boss, J. M., & Eckert, S. H. (2006). Academic scientists at work. New York, NY: Springer. Cambron, J. (2008). Grant funding for elderly health services (6th ed.). Manasquan, NJ: Health Resources Publishing. Clinical research in Finland in 2002 and 2007: Quantity and type. (2013). BioMed Central.Financings roundup.(Harvard University Office of Technology Development is funding for research projects in biomedical and life sciences )(Report). (2008, February 11). Medical Device Week.Hulley, S. (2007). Designing clinical research (3rd ed.). Philadelphia, PA: Lippincott Williams & Wilkins. Kaitin, K. (2010). (video) Research funding of medical product development.Kulakowski, E. (2006). Research administration and management. Sudbury, Mass.: Jones and Bartlett. Kullmann, P. (2012). The Inventor’s Guide for Medical Technology From Your Napkin to the Market. Minneapolis: Hillcrest Media Group. Lee, J. (2010). Biomedical engineering entrepreneurship. Singapore: World Scientific. Murray, T. H., & Johnston, J. (2010). Trust and integrity in biomedical research: The case of financial conflicts of interest. Baltimore: Johns Hopkins University Press. Page, P. (2012). An introduction to clinical research. Oxford: Oxford University Press. Reinhart, G. R., & National Research Council (U.S.). (2006). Enhancing philanthropy’s support of biomedical scientists: Proceedings of a workshop on evaluation. Washington, DC: National Academies Press. Shaw, G. (2005, October). Tapping Alternative Sources: Funding Beyond the NIH. G & P, 5(8)12-18. Smith, C. (2006). The process of new drug discovery and development (2nd ed.). New York: Informa Healthcare. Source document