The Importance of the Supply and Demand Model

Forming the basis for introductory concepts of economics, the supply and demand model  refers to the combination of buyers preferences comprising the demand and the sellers preferences comprising the supply, which  together determine the market prices and product quantities in any given market. In a capitalistic society, prices are not determined by a central authority but rather are the result of buyers and sellers interacting in these markets. Unlike a physical market, however, buyers and sellers don’t have to all be in the same place, they just have to be looking to conduct the same economic transaction. It’s important to keep in mind that prices and quantities are the outputs of the supply and demand model, not the inputs. It’s also important to keep in mind that the supply and demand model only applies to competitive markets — markets where there are many buyers and sellers all looking to buy and sell similar products. Markets that don’t satisfy these criteria have different models that apply to them instead. The Law of Supply and The Law of Demand The supply and demand model can be broken into two parts: the law of demand and the law of supply. In the law of demand, the higher a suppliers price, the lower the quantity of demand for that product becomes.  The law itself states, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases. This correlates largely to the opportunity cost of buying more expensive items wherein the expectation is that if the buyer must give up consumption of something they value more to buy the more expensive product, they will likely want to buy it less. Similarly, the law of supply correlates to the quantities  that will be sold at certain price points. Essentially the converse of the law of  demand, the supply model demonstrates that the higher the price, the higher the quantity supplied because of an increase in business revenue hinges upon more sales at higher prices.   The relationship between supply in demand relies heavily on maintaining an equilibrium between the two, wherein there is never more or less supply than demand in a marketplace.   Application in Modern Economics To think of it in modern application, take the example of a new DVD being released for $15. Because market analysis has shown that current consumers will not spend over that price for a movie, the company only releases 100 copies because the opportunity cost of production for suppliers is too high for the demand. However, if the demand rises, the price will also increase resulting in higher quantity supply. Conversely, if 100 copies are released and the demand is only 50 DVDs,  the price will fall to attempt to sell the remaining 50 copies that the market no longer demands.   The concepts inherent in the supply and demand model further provide a backbone for modern economics discussions, especially as it applies to capitalist societies. Without a fundamental understanding of this model, it is almost impossible to understand the complex world of economic theory.

The Documentary Organic We Trust by Kip Pastor Essay

Have you ever wondered if organic foods are actually better for you? What if organic foods are not actually healthy and are just an immense scam from food companies to take your money away from you? In the documentary, In Organic We Trust, the narrator Kip Pastor attempts to persuade the viewers that although the food system may be flawed, organic foods are actually better to consume. Pastor’s use of pathos and logos in this documentary are extremely credible and well structured, but the ethos Pastor provided in this documentary are not as well structured as the pathos and logos. Pastor doses an excellent job in structuring the film â€Å"In Organic We Trust†, in an attempt to send his message across to the viewers. In the documentary in order†¦show more content†¦Therefore, the pathos Pastor demonstrated throughout the entire film was extremely particular and well structured. Pastor’s pathos captured the viewer’s attention by using a hook and the n explaining in detail his motives. It was evident that Pastor was very passionate and determined to educate the viewers. Pastor travelled across the country in order to investigate and interview knowledgeable workers from the organic food industry. Lastly, the Logos Pastor used in this film were tremendously credible. Pastor gathered all the information he collected by interviewing actual workers form the food industry. Although, Pastor did use credible resources and state his ethos and displayed his pathos for the film, the information in this Film was a bit bias. Throughout the whole film Pastor only help the viewer’s better understand the benefits of organic foods. Pastor interviewed a variety of people that work in the food industry, but all of those people were also very passionate about organic foods. Pastor failed to interview individuals that were on the opposite side of the food industry. Also, Pastor only brought up all of the negative points normal industrialize d farming. Not once throughout the entire film did Pastor show the viewers that there are positives to normal industrialized farming. Thus, making the information provided to the viewer’s bias because bothShow MoreRelatedEssay on In Organic We Trust, a Documentary by Kip Pastor789 Words   |  4 Pageswondered if organic foods are actually better for you? What if organic foods are not actually healthy and are just an immense scam from food companies to take your money away from you? In the documentary, In Organic We Trust, the narrator Kip Pastor attempts to persuade the viewers that, although the food system may be flawed, organic foods are actually better to consume. Pastor’s use of pathos and logos in this documentary are extremely credible and well structured, but the ethos Pastor provided in

Qatar’s Economy Free Essays

Business in Qatar Should one do business in Qatar? Qatar is a small country in the Middle East. I’ve come to realize that Qatar, just like any other country has it’s poor and plentiful sides. Qatar is a small country with immense expectations for future business with other countries. We will write a custom essay sample on Qatar’s Economy or any similar topic only for you Order Now Let’s start by looking at Qatar’s political and economic standpoint. While Qatar is more of a conservative society than others, it has set out on a path towards economic modernization and political stability. Amir Hamad bin Khalifa Al Thani has been the chief of state since 1995 and has led Qatar to becoming more open to global markets. He is a strong advocate to having relations with the United States as well. In 2003 and 2004 the economy of Qatar was growing and expected to continue growing. According to Douglas Walter, author of Consider Qatar, stated that Qatar’s economy is driven by revenues from natural gas and oil resources. Qatar has one of the largest oil reserves in the world, with as much oil to last as long as 200 years, that was said in 2005. I can only imagine how much oil it has now. Qatar is striving to make itself more attractive for investments and trade with other countries. With the importance of foreign trade on the economy of Qatar, export taxation is a primary source of funding public spending and development in Qatar. In 1994, Qatar succumbed to the General Agreement on Tariffs and Trade, which is now known as the World Trade Organization. They have built its trade and investment state so that they are following their obligations to the World Trade Organization by reducing tariffs, removing unnecessary restrictions and barriers to trade, and providing foreign investor more opportunities. The United States is still trying to get Qatar to become part of the Free Trade Agreement. It seems like doing business in Qatar, is easier than some countries. Some companies that do business with Qatar have reported that going through customs is not a hassle. Qatari companies and customers seem eager to work with Americans and like buying U. S. Made products and services. Qatar has a stable currency, and the country inflicts no foreign exchange controls. Qatar permits up to 100% of foreign ownership in agriculture, manufacturing, health, education, tourism, power and projects involved in the development of natural resources, pending approval from the government. Qatar is also a member of various international financing bodies. It levies no taxes on the individuals’ income and no fees on exports, whereas he fees on imports are exceedingly low and are estimated at 4 percent. Qatar is also famous for its banking market. There are no restrictions on transferring capitals overseas, which make the whole of Qatar a free trade zone. The issuing of law No. (1) in the year 1980 regulating industry in Qatar provided for incentives for local investors in the industry field and in addition to the promotional incentives regulated by law No. (19) in the year 1995 which facilitates the process of obtaining industry licenses and unifies the executive bodies that grant promotional incentives. U. S. exports to Qatar in 2004 totaled $423 million. Within the span of five years, U. S. exports to Qatar have increased by over 200%. All indicators – the growing strength of the U. S. Qatar geopolitical relationship, growth in the world demand for natural gas, and Qatar’s successful economic reform and diversification strategy among others – strongly suggest significant growth in future U. S. exports to this market. Qatar has its own specific rules when it concerns other countries operating in this country. There are several services that are available for interested parties looking to do business within Qatar , such as legal, financial, tax matters, business counseling, company background checks, and feasibility studies. Now there is not any personal income tax within Qatar, but foreign-owned companies must pay tax on corporate income. One downfall to this is that U. S. Companies wanting to do business in Qatar will have double taxation. Now with labor in the country of Qatar, all non-Qataris must have a valid work permit issued by the Department of Labor to work in Qatar. Qatar has a new labor law which aims to balance the rights of employers and employees, also institutes hiring priority to Qatari nationals. It gives the employers obligations that the employment contract must be in writing, the recognition of the concept of end-of-service benefits, and limitations on how many hours can be worked per week. Now seeing a country prosper with it’s oil and natural gas revenues and to see how beautiful the country actually is, who wouldn’t want to do business in Qatar. I’ve been there and can see how a U. S. Company could become a success over there. I’ve been to several places in Doha and have seen familiar places, such as Apple-bees, Chili’s, and Fuddruckers. With Qatar’s great relationship with the United States, it couldn’t hurt for a company to open up over in Qatar and bring more to the country that is striving. Works Cited â€Å"Qatar Now. † N. p. ,n. d. Web 21 Nov. 2012 http://www. diwan. gov. qa/english/qatar/Qatar_now. htm â€Å"Rules of Business in Qatar-Export. gov† N. p. ,n. d. Web. 21 Nov 2012. http://www. export. gov/middleeast/country_information/qatar/considerqatarguide. pdf â€Å"Grasp, Rules of Business in Qatar† N. p. ,n. d Web. 21 Nov 2012. http://graspcorp. co. uk/en/about/about-qatar/ How to cite Qatar’s Economy, Essay examples

Civil Wrong and a Criminal Offence for Copyright Infringement

Question: Explain the difference between a civil wrong and a criminal offence? Provide one example. Answer: The issue in this question is to differentiate between civil wrongs and criminal wrongs. For this purpose, the basics of each one has to be discussed and try to clear the differences that exist between the two and an example of this difference also needs to be given. A civil wrong can be described as the wrongs that have taken place against a particular individual. In this regard, civil wrongs can be redressed. This means that damages may be claimed by the party that has suffered a civil wrong from the party that has caused such damages (Williams, 1982). In this regard, the civil wrongs can also be described as the wrongs that have not been recognized as criminal wrongs by the State. On the other hand, the criminal wrongs are considered as the wrongs against state and not only against an individual. Another difference between the two is that criminal wrongs are more serious as compared to the civil wrongs because they are considered as the wrongs against the whole society, even if only one person has suffered an injury (Dworkin, 2005). In this way the wrongs that are against the benefit of the general public and the State are considered as criminal wrongs. On the behind the civil wrongs adversely affect the interests of a particular person. The acts like murder, robbery or theft are considered as criminal wrongs. On the other hand, the less serious wrongs like trespass, copyright infringement, causing nuisance or pollution are treated by the law and civil wrongs. In case of criminal wrong, action is taken by the state against the offender. On the other hand, in case of a civil wrong, the injured party can sue the other party that has caused the injuries. An example can be used to explain the difference present between the two. For example, if a person has punched another person, but no physical injury was caused, it will be treated as a civil wrong. On the other end, if a person beats the other person and causes serious injuries, it will be termed as a criminal wrong. References Dworkin, R. (2005). Taking Rights Seriously, Harvard University Press Williams, G.L., (1982). "Learning the Law", 11th Ed., London: Stevens