...Essay Australian Competition Consumer Commission (ACCC) has taken Federal Court action against Apple for misleading claims about the connectivity speed of the latest iPad. Apple had advertised on there website as an iPad with WIFI+ 4G capabilities, the tablet is unable to use the 1800MHz frequency which is Australia’s existing 4G network. The ACCC is a part of government that aims to encourage competition in a stable environment and to look after the consumer so the consumers do not believe that they are being taken advantaged of by the misleading claims. This misleading claims or a consumer being feeling cheated allows the Australian Competition Consumer Competition to intervene in behalf for the consumer. ACCC had to intervene in behalf of the consumer when apple had made misleading statements about their latest product the iPad. Australian Competition and Consumer Commission believed that apple had made misleading statements about their connectivity speed of the iPad. The basis for this intervention is to maintain or enforce competition within Australia and by the misleading claims the company apple was misleading the consumer by the reference to 4G capabilities. To maintain or even enforce competition ACCC has to intervene to allow the consumer the choice of choosing the product and to have the information about the product before making a decision on the product to purchase. ACCC intervenes to monitor or foster competition so no single market participant has enough...
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...pART 1 NEW ECONOMIC MODEL FOR MALAYSIA NEW ECONOMIC MODEL FOR MALAYSIA pART 1 High Income Rakyat Quality of Life Inclusiveness Sustainability NEAC National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA MALAYSIA NATIONAL ECONOMIC ADVISORY COUNCIL NEAC www.neac.gov.my NEAC NATIONAL ECONOMIC ADVISORY COUNCIL CHAPTRE NEW ECONOMIC MODEL F O R M A L AY S I A 1 Part I: Strategic Policy Directions Copyrights Reserved All rights reserved. No part of this publication may be reproduced, stored in retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording and/or otherwise without the prior permission of: Secretary National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA Tel.: 03-8888 6512/ 8888 6513 Fax: 03-8888 4638/ 8888 4177 Email: secretariat.neac@pmo.gov.my www.neac.gov.my Sales copies are obtainable from: Percetakan Nasional Malaysia Berhad Jalan Chan Sow Lin 50554 Kuala Lumpur Tel.: 03-9236 6888 Fax: 03-9222 4773 Email: cservice@printnasional.com.my __________________________________ Cover design and layout by Percetakan Nasional Malaysia Berhad Preface This report is the first of two documents by the National Economic Advisory Council (NEAC) on the New Economic Model (NEM). This report presents...
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...the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling, was a big problem at this time also. Nixon entered the congressional campaign season along with unemployment, inflation, and Democratic demands for an "incomes policy" to check fluctuating prices and wages. Some demanded wage and price controls. The downfall of this event was Republicans gained two seats in the Senate but lost nine in the House. Nixon blamed this on economy.By the middle of 1971, unemployment was 6.2 percent while inflation was unchecked. Nixon decided his administration needed a single economic speaker and chose Treasury Secretary John Connally as the spokesman. He spoke in terms of disregarding everything economy asked for (mandatory price and wage controls...). On...
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...China is called ‘The New Economic Giant’ for three reasons. Firstly, its economy has doubled in size every eight years. Secondly, China now has the largest sustained GDP growth in history. Thirdly, China controls 3% of the world’s oil reserves. A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses. In 1986, China introduced an ‘Open-Door Policy’ to overseas investment. It allowed China to transform into a more capitalist economy, allowing individuals to accumulate wealth by producing goods and services without State interference. This allowed China to rise as an economic superpower. Car ownership is expected to jump from 16 cars per 1000 people in 2002, to 267 cars per 1000 people by 2030. By 2020, China is expected to have 140 million private cards on the road, which is more than the USA. An increased number of cars and rapid urbanisation will lead to an increase in energy demand therefore, increasing China’s energy requirement. The problem with increased number of cars and rapid urbanisation is that China doesn’t have the required resources and therefore will rely upon importing oil to meet the requirements. China’s dependence in imported oil is expected to 60%, which raises issues about China’s long-term energy security. China is still largely an agricultural society and 60% of the population lives in rural communities, and 45% of the workforce is employed...
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...Jonas Miguel M. Valeza Prof. Rodrigo Dolorosa BSBA HRDM 2-1 Basic Economics with Taxation and Agrarian Reform A Whole New World : Economics and Me Economics is the study of choices and behaviors. Economics focuses on why we make the choices we do and what the implications or effects of those choices are. In this essay, I will talk about the magnificence of Economics and how it has been a part of our daily lives. So what are you waiting for? Come and join the fun as we wend our ways through the marvelous world of Economics! Economics may seem like a theoretical subject, but it actually has many practical applications in daily life. Economics studies the way people and companies interact with each other, and cover such diverse fields as finance, law, education, business, government policy and more. Having a firm grip of these subjects gives the individual a big advantage both in business and personal life. As a Human Resource Development Management Student of Polytechnic University of the Philippines Quezon City Campus, I found Economics as one of the foundations of the Human World. Economics deals with decision....so in everything you do, like how will you spend your money wisely, how will you budget your time, how you react in every issues that involves your everyday life, all of it, is already the application of Economics in our daily lives. Economics defined as a study of mankind in the ordinary business of life; it examines that part of individual...
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...Economic Impact of Hurricane Sandy on New Jersey Abstract In 2012 Hurricane Sandy came and made a horrendous imprint on the Northeast United States. Sandy was a category 3 storm that ravaged people, towns, and businesses up and down the Atlantic coast flooding streets & tunnels, subway lines, and cut power in and around the city. Here we will see what the economic impacts were to New Jersey because of the storm. We will also look at the recovery and how that affected the economy for that state as of today, and projections for the future. Key words: Economy Economic Damage to the State There had been descending times in New Jersey, their GDP dropped from $482.1 billion in 2008 to $470.35 billion in 2009 during the Great Recession, and has rebounded slowly, climbing back to $480.4 billion in 2010 and hitting $486.99 billion in 2011. In both years, New Jersey ranked 47th nationally in economic growth (Magyar, 2013). Then a major disaster in Hurricane Sandy happened, and packed a bigger economic punch than most people had thought. In its sweep through the Northeast, the storm halted sales at major retailers at the start of the crucial holiday shopping season, closed factories and slowed home sales in one of the most densely populated areas of the country. Target and Macy's blamed the storm for weak sales in November. Macy's and Nordstrom Inc. reported their first monthly sales drop since late 2009, when the U.S. economy was just emerging from the Great Recession. The...
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...In this paper, I will evaluate the inequality of the New Deal and Trickle Down theory and effects.. The massive economic gap between the rich and poor has grown overtime in the US. This is due to President Reagan's economic policy in the 1980s, it was known as Reaganomics. Or sometimes called the trickle down economics. An economic theory that provide benefits such as tax cuts on businesses, high-income earners, capital gains, and dividends for the wealthy. This led Multi-national corporations, Wall Street bankers, and the wealthy aristocrat gaining an enormous increase of wealth, while many Americans have experienced stagnant wages. President Lyndon Johnson has once said about trickle down effect, "Republicans [...] simply don't know...
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...There is a simple saying” the challenges and opportunities are co-existed”. As a new manager, he shall find out what the major challenges and the most valuable opportunities in the chaos, to lead the company into an industry from the right road towards the right direction. Since 2008, the finance crisis has made the whole world economy completely different. The rate of unemployment keeps quite high in most of developed countries, the price of real estate dropped to the historical low in America. Then the following Euro debt crisis again pushes the weak world economy into an unprecedented difficult situation. The fallout from the Greek debt crisis will definitely impact the still weak recovery in Europe, Said Hong Pingfan, the head of the global economic monitoring center of the UN Department of Economic and Social Affaire (DESA) And the a massive aid package and unclear American economy will keep leading to a weaker euro and weaker US dollar in the medium to longer term. So the entire economic environment is not so optimistic, all different industries are being influenced more or less. Comparatively speaking, in fashion marketing, the power of purchasing is relatively reduced since Finance Crisis all over the world. According to the statistics, the Consumer Confidence Index (CCI) has been kept relatively stable in the low level since finance crisis, especially in European countries and America, mainly in the developed countries (Isabella 2010). At same time, it shows the...
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...Futurist, August, 2000) that 70% of the workers in the coming decades will not need a four-year college degree, but, rather, an associate degree from a community college or some type of technical certificate. Thus, moms and dads, who foot the bill, delude themselves that going to any four-year college will make their sons and daughters literate, analytical, culturally aware, technologically advanced, and therefore employable. In America today, there exists a goal that the majority of the nation's youth should go to college and that access should be the byword for higher education. On the surface, this sounds like a great idea; in reality, it is not. Access in its most-extreme form--open admissions--was instituted at The City University of New York during the turmoil of the 1960s. Any student who had graduated from high school, with no regard given to grade point average (GPA) and/or the SAT scores, was allowed into one of the CUNY schools. Today, while that policy is officially off the books, many of its aspects remain. CUNY is not alone in its attitude toward access. In every state, midrange colleges exist by some form of easy access, for access=numbers,...
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...Latatsha Keeten Eco / 561 July 28, 2014 Genevieve Turano Introduction The United States health care system relies heavily on private health insurance, which is the main source of coverage for most Americans. According to the Center of Disease Control, approximately 58% of Americans have private health insurance. The primary public programs are Medicare, a federal social insurance program for seniors and certain disabled individuals and Medicaid, also referred to as Medical. These two are funded jointly by the federal government and states but managed at the state level, which covers certain very low income children and their families. Health advocacy companies initiated to become visible to assist patients muddle through the complexities of the healthcare system (Wikipedia, 2014). In 2010 President Obama signed into law the Patient Protection and Affordable Care Act. This Act includes individual mandate that every American must have medical insurance or pay a fine at tax time (Obama Care Facts, 2014). Before the enhancement of medical expense insurance, patients were presumed to pay health care costs out of their own pockets, which is known as the fee-for-service professional standard. Hospital and medical expense policies were introduced during the first half of the 20th century. During the 1920s, individual hospitals began offering services to individuals on a pre-paid base, eventually leading to the development of Blue Cross organizations. The predecessors...
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...in Russia in an attempt to catch up with the more advanced west. As Stalin said 'We are fifty or a hundred years behind the advanced countries. We must make good this distance in ten years.' The focus of the first five year plan on heavy industry made huge strides in modernising industry and increasing output, in that 'Coal, iron, and the generation of electrical power all increased in huge proportion’s and Russia felt it could compete again on a scale with its western rivals. However, despite overarching economic development, many of the targets set by central panning didn't consider the quality of products or waste of materials and on reflection, highlight a number of fundamental flaws in the measurement of success of the first five year plan. Stalin's idea of collectivisation forced the peasants to move to a commune, share the livestock and equipment whilst having to give the government their share of the revenue. 'The government figured that new technology and new farming machines, would allow mass production of food without the large amount of workers that was needed before'. Collectivisation was therefore introduced to increase efficiency and introduce mechanization. This added urgency to increase output meant that high targets were set which were met by use of the carrot and the whip, incentives but also punishments, pushing the economy towards its maximum potential making the essential contribution to the transformation of the Russian economy....
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...How News Lifts- or Sinks- Worlds Stock This paper will speak about the changes in consumer demand trends after the crash for two different stock companies as well as the attempt the companies made to make profits from rising consumer demands after the crash. The local news that some of us can do without, while others must have it like a morning cup of coffee can get the world wrapped up in 30 minutes to an hour. We get the good, the bad, the ugly, and let us not forget our local weather. News has a very profound effect on us whether we realize it or not. How many times has the weather man been wrong, but regardless, we prepare for the weather they predict? After all, they do have the latest Doppler forecasts. We feed into the frenzy fed to us by our local newscasters. We rely on them to keep us up to date concerning the world around us. It is because of this insatiable need for the news is precisely why it has such an impact on our lives. So it goes without saying, that when the local news reports on how bad our economy is doing, it strikes fear into all viewers. Fear unchecked will inevitably lead to panic. A few short years ago, our country faced the worst recession since The Great Depression. One company after another failed. Companies that had been around for generations fell victim and had to close their doors. And how did we stay abreast, by watching the news daily. Not only did we hear of the many companies that were failing daily, we were also privileged...
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...Social Media Responsibilities Jana Keeley Hum/186 June 05, 2012 Tanny Rodriguez Responsibilities of news media include providing the society a truthful, objectives and balanced news and information while respecting the secrecy of issues related to national security. Known tasks of journalists in the entertainment media are In the social responsibility theory of the press, the media is driven to benefit the public. It expects journalists to answer society's need for truth, requires an open and diverse debate on public issues, and honest updates of current events. In this model, media ethics is automatic because the press is free to serve its purpose for the public, as opposed to special interest groups or advertisers( referenced below). Another condition of the social responsibility model, is that news reporting cannot be dependent on groups that may encourage bias and unethical practices in exchange for financial support catchy headlines which directly affect civilians. The public learns about government and politics primarily through television and nationwide newspapers. The media has a choice of which stories to cover. Recent studies prove the exposures can have a sizeable impact in shaping the public’s view on politics. Media coverage shapes attitudes and behaviors related to judging ones capabilities of running for office. It’s a known fact that citizens often times seek out information that agrees with their pre-existing views. People will relate with a politician...
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...Blogging is a resource used to discuss, share, and evaluate various news and topics. It is not a replacement for traditional media, so it is not, and should not be held to traditional journalism code. However, blogging should have its own ethical code and rules so it can continue to thrive and be viewed as a credible source of information and valuable discussion. Copyright infringement is the number one ethical and legal issue on the internet. It is important that bloggers protect themselves from committing this crime. It is okay to use copyrighed material for certain purposes such as: teaching, research, and news reporting. However, one must use caution when posting pictures and text messages from other people in blogs. Using the work of others without permission is equivalent to stealing a photo album or journal from your next door neighbor. Just because you may not sell it to make a profit, does not benign the fact that the material was stolen. Bloggers must become educated about copyright infringement and fair use. When unsure whether they are committing copyright infringement, they should refrain from using copyrighted material. Although it is common knowledge that blogs are the opinions and points of view from various people, bloggers themselves should not deliberately spread false information. Furthermore, the opinions in blogs should always be easily identified, as well as the facts. Bloggers may not have the responsibilities of journalists, but they have the responsibility...
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...a hurry’’ and providing a precise, representative account can rarely occur under such conditions. ▪ Journalistic gatekeepers must choose from unceasing news generated by emerging information technologies. “Truth” in news reporting must be enlarged beyond a simple facts-only definition. Both newsgathering and newswriting processes must be considered. Opposite of truthtelling is deception, that is, deliberate intention to mislead (see Sissela Bok's book, “Lying”). Deception is newswriting is rare, but deception in newsgathering is a persistent temptation, because it often facilitates the process of securing information. There are five cases that demonstrate the dimensions of the truthtelling issue in journalism and media ethics: 1. Al Jazeera: This case examines the Arab news network, Al Jazeera, an independent news organization based in Qatar. Does Al Jazeera slant its news against the West? Many Western journalists and governments are not convinced that Al Jazeera is neutral or un-biased in its reporting. In a region where state owned media dominates the airwaves and government leaders were accustomed to controlling the message. Reflects Arab culture. Less than positive responses from an average American. Accused for providing a platform for terrorists. Al Jazeera aimed to present the news in an unbiased and objective manner, which often meant unflattering portrayal of existing Arab leaders. 2. The Unabomber's Manifesto: The...
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