...#793634.34 Principals of Economics Unit 3 Student’s Name Institution #793634.34 Principals of Economics Unit 3 The Perfectly competitive market is a market structure in which the competition level is very high (Mankiw, 2007). In this market structure, the knowledge is freely available to all buyers and sellers. The availability knowledge enables the consumers and producers to make rational decisions to maximize their profits. Market price is the particular price that buyers and sellers agree to use in the market at a given time. I formal markets, there are two types of prices. These are the selling price and the buying price. The price of the goods in the market determines the market structures (Economics Online, 2015). The increase market products depend on demand and supply. In a perfectly competitive market firm, the price of goods determines the profit. The average revenue is the revenue a firm generates by selling one unit of output. The market structure determines the relationship between the quantity of output and average revenue. In a perfectly competitive market, the average revenue equals both marginal revenue and the price. Both marginal revenue and the prices are constant. A business experiences marginal revenue when it sells one or more extra units of its output. Marginal revenue plays a crucial role in profit maximization decision making (Mankiw, 2007). Therefore, a perfectly competitive market increases its profit...
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...Dorothy Green Dr. ISLEY Eco 100 May 2, 2013 Suggest how an economist would approach the problem of alcohol abuse. The economist approach this problem of alcohol abuse by using a genuine case of negative externalities both in production and consumption. Alcohol abuse and its related problems cost society many billions of dollars each year (1,2,3,4). Estimates of the economic costs of alcohol abuse attempt to assess monetary terms the damage that results from the misuse of alcohol. These costs include expenditures on alcohol-related problems and opportunities that are lost because of alcohol. First researchers attempt to identify costs that are caused by, and not merely associated with, alcohol abuse yet it is often hard to establish causation. Second many of the causes resulting from alcohol cannot be measured directly. The economist may also try these different approaches, like scoping out the Cost of Alcohol Abuse, Health-Related costs, Treatment Cost, and the Death rate. They treat alcohol abuse as being in the same category as drugs, tobacco use and gambling. Binge drinking is another form of alcohol abuse. As frequent binger or drinking or getting severely drunk more than twice is classed as alcohol misuse. Alcohol can harm a person’s health, interpersonal relationship, and even your ability to function in every day functions like work, going to school and other daily activities. If a person driven while drunk...
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...success of the program. Those factors were finding the right mentor, Aligning instructional-support efforts and Partnering with principals. The first factor is finding the right mentor. Barlin points out that first and for most a good mentor has to first be good and effective teacher. The problem is that many schools and distracts are not equip or have the proper structure to asses who is highly effective or strong in student outcome. In those schools that can the problem them becomes willingness to pull that teacher out of the classroom to mentor. Aligning instructional-support efforts is the next key factor in a successful program. Barlin makes a connection with aligning instructional support with that of a communal tree. Everyone want to water it, in hopes to see it thrive but if there is not proper coordination then the tree will drown. Here the new teacher is the tree and the those willing to help water the tree are the literacy and math coaches, university supervisors, data specialists, special education counselors, technology coordinators, different frameworks and policies. The mentor and distract frameworks are there to support and coordinate all that want to water the tree so that the tree does not drown. Lastly, a program needs to partner with the principal in order to work. Barlin points out in the article,, that the job of the principal is evolving and demanding, often at times coming without...
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...effective leaders as well as their behaviors. Principle 1. Leadership for change is most effective when carried out by a small group of educators with the principal functioning as a strong cohesive force. Principal plus a strong leadership team operate as key players and working with a dedicated group of classroom teachers because teachers must be involved in day-to-day decisions that affect their day-to-day lives (Marzano, R. J., 2003). For example in creating a guaranteed and viable curriculum, it is important that the principal assumes the role of visible head of this reform effort with the ability to mentor and guide direction for a leadership team and all teachers. Time is a factor that yields success when information is shared in a routine and timely manner. Even though obstacles may arise, the principal can offer adequate information in time for planning the curriculum teachers are responsible for, such as assessments and activities for higher order thinking from students. Effective leadership is present when teachers know the principal is time conscious of what improvements are needed in the months to come and shares this in a collegial manner. With artifacts from the school year such as student reports, test reports, and other forms of reflection on components of the educational program, the principal can be conceptual in sharing information and evidence, leading the team and teachers to relevant changes for improvement ahead of a...
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...15, 2014 For this discussion board post we are to discuss the topics of Agency Law and the different principals and ideas that go along with it. There are three types of principles that exist; they are disclosed, undisclosed, and partially disclosed principals. A disclosed principle refers to when there is a 3rd party involved. The person/people are not hidden by the company to the person or persons that they are working with. For example, Let’s say you have a bill and you have not paid it, the company that you had the bill will originally may turn your account over to another collection agency and they would in turn contact you and let you know that your account has been turned over to their company to collect the debt on behalf of the original company. When it comes to an undisclosed principle, it’s just that, not disclosed, no information is given on that agent. They still are working either on their own behalf or through a company and do not want their information public. For example, if I was under an undisclosed principle I would not go into a meeting and say, “I am here on behalf of Yellowstone National Park”. This information would not be given out. For a partially disclosed principle, at the time of the deal, the person may know that the other person he is dealing with is portraying themselves as an Agent but does not know who the main source or principal is. For example, if I am speaking on behalf of a national park and I am trying to build a new park, if the...
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...born in the religious house hold it was God first and then your parents. For those of us who grew up without knowing God it was our parents. Our first teacher and leader. We learned to function as a family unit when your parents instructed you to learn how to cook and clean. These actions allow for the parents to be freed to do other task. Performing these tasks showed us how to follow leadership and by performing these task lightened to load for our first leader – our parents. This is the same principal that applies now as adults. We learn to perform task at our jobs, this is to uplift the company and the reward for us is a pay check weekly, monthly, or biweekly. This should be the same attitude we present as Christians. If we believe that we are all one body in Christ we should be able to do anything we can to glorify Christ. Assisting our leadership is no different. If we believe that God has placed us in a church where there is leadership that follow God’s principals we should understand that anything that is asked of us as members comes straight from God and is utilized to edify the body of Christ. Sometimes we get stuck in our own way of thinking – the world’s way. But if we look at it in a biblical since we should understand that the things that we do for Christ will last. Cleaning the church, beautifying the church, are a couple things that bring God glory. The church leadership is unable to do it alone. We as members and leaders should always try and find...
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...incentives. While premium incentives, just like xed-prize tournaments, are based on relative performance, the prize to be awarded is not set in advance but is a function of the rm's success: the prize is high if the rm is successful and low if it is not successful. Relying on a simple model of cost minimization, we are able to show that premium incentives outperform xed-prize tournaments as well as piece rates. Our theoretical result is qualitatively con rmed by a controlled laboratory experiment and has important practical implications for the design of organizational incentive systems. JEL Classi cation: C72, C91, J33 Keywords: Tournaments, Incentives, Economic experiments Max Planck Institute for Economics, Kahlaische Strasse 10, 07745 Jena, Germany. yEberhard Karls Universitat Tubingen, Faculty of Economics and Business Administration, Nauklerstrasse 47, 72074 Tubingen, Germany. zThe Hebrew University, Center for the Study of Rationality, Giv'at Ram, Jerusalem 91904, Israel. 1 1 Introduction and Motivation As documented by Orrison et al. (2004) or Bothner et al. (2007), tournament incentives have developed into an increasingly important component of compensation systems; they are `pervasive in organizations' (Casas-Arce and Martnez-Jerez, 2009). Unlike piece rates, which are awarded according to absolute performance, tournament incentives are awarded...
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...(2002) noted, “One of the National Association of Elementary School Principals' six standards for what principals should know and be able to do calls on principals to put student and adult learning at the center of their leadership and to serve as the lead learner (2001)” (para. 17). If this premise is true, then it is safe to suggest that this situation is a learning opportunity for the entire community to understand who is in charge of the building. Alienating staff simply because of their experience within a particular building with complete disregard for their skill or knowledge level is destructive to morale and puts all the perceived power in the wrong hands. Of course Mr. Carroll might want to be conscious of Mrs. Douglas’s concerns, but that meeting should be centered around him telling her Mrs. Farmington is being appointed to run the Wordsmith competition. If the faculty decides who should do what and when and can keep others from participating at will, then the point of having a lead learner or leader in place at all becomes meaningless. Principal Carroll has to demonstrate his leadership by understanding he has to lead the entire school community and not just a select few. In every situation the right people with the right experience, attitude, and skill level have to be put into place so the school can thrive at maximum potential. The veteran teachers have to learn to be welcoming and Principal Carroll has to send the message that’s the expectation and his demand...
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...Click here for the steps to follow Application for Selection Certificate Principal Applicant – Spouse or de facto spouse INSTRUCTIONS How to complete this form Answer all questions accurately. If you run out of space, please finish your answer on a separate sheet marked with the number of the section of the form to which it refers. Who is required to fill out this form? The principal applicant and the accompanying spouse or de facto spouse, if any, who are applying under one of the following subclasses (definitions on page 2): • skilled worker; • self-employed worker or entrepreneur; • foreign national in a particularly distressful situation, within the meaning of section 18c of the Regulation respecting the selection of foreign nationals: this subclass does not include refugees, persons in a similar situation, nor protected persons. Dependent children accompanying you who are aged 22 or older or who are married or de facto spouses must complete the form Application for Selection Certificate – Dependent child aged 22 or older or who is married or a de facto spouse (definitions on page 2). A child who is not a dependent must fill out this form as a principal applicant. Appendices, supporting documents and place of application submission You must send this form, along with the appendices and the necessary supporting documents to the immigration office responsible for files originating in your country. Closely examine the list of documents to append to your application for...
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...1 Introduction Here you can write the assignment. You can also present yourselves. If there are certain remarks to make you can put them here. 2 Structure of the report Here you describe the structure of the report. Also you can explain the way of working, the approach to deal with the assignment and you're research. By describing this all coming chapters are not falling out of the air. 3 Research on RIA's? Here you present your research undertaken on the internet. If you want to put additional information in some appendices that's fine. Again: It is important if you state your ideas or findings to give some "evidence" by referring to internet or pages in a book (do not forget to mention the book). 3.1 Definition of a RIA 3.2 Technologies in the 3.3 Our choices 4 Site objectives What do we want to reach with this application (or website); What do we want to support and why? Where are the opportunities to persue? It is important to make clear what the investor wants to achieve with the site (or application). End this chapter with a summarization (requirements) and draw conclusions. 5 Environment analysis Which sites (applications) did you investigate (and why these?). What did we investigate? What were the examples or parts we liked (give proof to us)? What were the examples or parts we did not like? End this chapter with a summarization (requirements) and draw conclusions. You can give proof of statements you make...
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...1 Introduction Marc MENOU Juillet 2007 M. MENOU / COURS D’ECONOMIE 1 TABLE DES MATIERES 11 L'économie est une science fondamentale _________________________________________________ 4 111 Une préoccupation pratique essentielle ________________________________________________ 4 112 Une problématique théorique fondamentale ____________________________________________ 5 12 L'économie est mal acceptée et mal connue ________________________________________________ 7 121 La science économique est critiquée __________________________________________________ 7 122 La science économique est refusée __________________________________________________ 10 123 La science économique est mal connue _______________________________________________ 13 1231 Des apparences superficielles ______________________________________ 14 1232 Méconnaissance de l'économique ________________________________________________ 16 1233 L'erreur humaine _____________________________________________________________ 20 13 L’explication de ce paradoxe __________________________________________________________ 22 131 Le réel ________________________________________________________________________ 22 1311 La définition du réel __________________________________________________________ 23 1312 L'existence du réel____________________________________________________________ 24 1313 La création et l’évolution du réel ________________________________________________ 24 1314 Les caractéristiques du réel _____________________________________________________...
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...theory is controversial and essential theory in accounting, economic and finance sphere. The theory raises a problem of agency relationship, in which, cooperating parties- principal and agent, have different goals and division of work. Agency theory arises two problems: the difficulty of verifying what the agent is actually doing, and the conflict between goals and desires of the principal and agent (Eisenhardt, 1989). Agency theory is based on two different approaches: positivist agency theory and the principal-agent research. The first one describes the governance mechanism that limits the selfish behavior of the agent. Positivist agency theory identifies two propositions including governance system. If the contract between the principal and the agent is based on outcomes, there is a high probability that the agent will act in the interest of the principal. In addition if the principal has information to verify behavior of the agent, then the agent will act in the interest of the principal. The second one, principal-agent stream, contains more testable implications than the positivist theory. There are several things like goal conflict, easily measurable outcome, and the assumption that the agent is more risk averse than the principal, that are assumed in principal-agent research. The main difference between these two theories is that the positivist agency theory identifies certain contract alternatives and principal-agent theory indicates which contracts are the most efficient...
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...maslen@icaew.co.uk. Further information on the Audit Quality Forum, the current work programme and how to get involved is available at www.icaew.co.uk/auditquality or contact 020 7920 8493. © December 2005 Institute of Chartered Accountants in England & Wales Dissemination of the contents of this paper is encouraged. Please give full acknowledgement of source when reproducing extracts in other published works. No responsibility for any person acting or refraining to act as a result of any material in this document can be accepted by the ICAEW, the Audit and Assurance Faculty or authors. ISBN 1 84152 404 2 AuditQuality a Q Agency theory and the role of audit CONTENTS 3 Contents Page Executive summary Introduction Principal-agent relationships What is an agency relationship? Agency theory Motives of agents and...
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...Republic of the Philippines UNIVERSITY OF SOUTHEASTERN PHILIPPINES COLLEGE OF GOVERNANCE AND BUSINESS B.O. Obrero, Davao City EXPLORATORY FACTOR ANALYSIS ON GANGSTERISM _________________________ In Partial Fulfilment of the Requirement for the Subject Data Analysis for Administrators _________________________ SHERWIN S. FORTUGALIZA September 2015 A total of two hundred sixty three (263) secondary students of Davao City National High School from different grade levels and programs were chosen as respondents to answer the questionnaire on gangsterism. The total number of respondents satisfied the requirement of 10 is to 1 subject-item ratio of Nunnally (1978). Measures of Sampling Adequacy and Sphericity KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .756 Bartlett's Test of Sphericity Approx. Chi-Square 1191.498 df 190 Sig. .000 Based from the result, A KMO of .756 which is near 1 signifies a pattern for correlations that are relatively compact which provide reliable factors. In general, a KMO coefficient must be greater than 0.50. Literatures indicate that KMO values between 0.5 to 0.7 were mediocre; values between 0.7 to 0.8 were considered good; and values between 0.8 to 0.9 were great; while values above 0.93 were deemed superb, with the latter suggestive of strong confidence that factor analysis fit for the data (Tamayo, 2012). Moreover, Bartletts Test of Sphericity of...
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...International Journal of Business and Management; Vol. 10, No. 1; 2015 ISSN 1833-3850 E-ISSN 1833-8119 Published by Canadian Center of Science and Education The Agency Problem: Measures for Its Overcoming Meri Boshkoska1 1 Faculty Economics-Prilep, Republic of Macedonia Correspondence: Meri Boshkoska, Faculty of Economics-Prilep, Republic of Macedonia. E-mail: meribb@yahoo.com Received: September 19, 2014 Accepted: November 4, 2014 Online Published: December 20, 2014 doi:10.5539/ijbm.v10n1p204 URL: http://dx.doi.org/10.5539/ijbm.v10n1p204 Abstract As the corporative company type emerged, the two functions of ownership and management are separated. In the companies with a large number of employees the managers are the ones that manage the capital in the best interest of the shareholders. In this type of companies, conflict of interest may occur between the managers and the shareholders. Having more information about the work of the company, managers may use it in making decisions for their own benefit, which on the other hand cannot be as beneficial for the shareholders. Conflict of interest between managers and shareholders leads to so-called agency problem. There are different ways by which shareholders can control the operations of management. Some of the measures that can be used to resolve and prevent this problem are subject of analysis in this paper. Keywords: management, ownership, shareholders, conflict of interest, asymmetrical...
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