World Economy Essay Example for Free

World Economy Essay Having goods transported to Western Europe from Asia was difficult and the Europeans did not have the technology to acquire theses goods themselves therefore the Middle East becomes the middle men which started to become pricey. During the 15th century, a series of technological improvement triggers the Europeans to set out and acquire these good themselves. The Europeans had gain a spark of interest of the Asia after the Crusades. The European’s never had direct trade with south and East Asia but was familiar to Asian good mostly the upper class. Also the people of the west wanted to go out and discover, moving away from the fear of fall of earth’s edge also helped begin these explorations. The western powers wanted more land and they knew more land meant more goods that they can use and as well as export.The only power that the western Europeans faced was the lack of advanced technology to help then succed these goals. The first expeditions were limited because of the lack of proper technology, like small oar-propelled ships that were usually used in Mediterranean trade therefore was not useful when it came top traveling far into the ocean. This factor led to the invasion of a better way to traveling the Atlantic. Deep-draft, round-hulled sailing ships made further exploration possible. The Europeans also began to use the compass that was originally made during the Han China, but the Europeans were starting to improve it as well. Mapmaking and other navigational developments were made as it is mentioned that navigation schools were present and they encouraged exploration. Explosives were another Chinese invention that aided the Europeans with their conquest of land, explosives were adapted into gunnery. Advances in European metalwork which helped to create the first guns and commons. Greed, curiosity and rivalry is triggered the desire the go beyond Europe and discover what the rest of the world had to give. In conclusion, It can be said that technology plays a significant role in making these ideas became reality, technological improvements and new inventions aided an age of Exploration or European global dominance.

Reality :: Eliot Maddy Wasteland Death Essays

Reality Death is something we all fear at one point in our lives; it binds us together as mortal human beings, and eventually touches us all. But in our consumer driven society the subject of death is often times lost among our busy schedules. Personally, I never have dealt with a setting which gave me cause to fear for my life, and not many people in this day and age are faced with such a tremendous circumstance. But during Elliot’s lifetime, people were faced with the fear of death every day, and even every moment. The situation of the times was hard on everyone, and just like death, it brought all of the social classes together under one roof. In T.S. Elliot’s The Wasteland death was immediately mentioned in the first (English) line (title of the first section), "The burial of the Dead." The line exemplifies a strong sense of reality and it justifies the title of the poem. Reality is one of Elliot’s strongest themes; he, by no means, skirts the issue of death. Looking over the first stanza, Eliot relates death to the people how they see it, and how it affects them. And it is here where it becomes apparent that Elliot wishes to relate his belief that death touches us all in the same way. The quote, "I will show you fear in a handful of dust" is very powerful, because it sums up the fear of the people in those times. The quote itself signifies the dust bowl that swept the prairie between WWI and WWII. People were starving because of drought and depression; they had no money, and were forced to sell their homes, to go live in cities, where disease and famine caused countless deaths. Cities were overrun with peop le; jobs were scarce, and people’s lives were often times expendable in the work place. Child labor was commonplace because it was necessary to feed the family; the small children were employed for meager wages and performed jobs which often cost them their lives. It was a time in our history where many people lost hope, and despair was found everywhere. After reading such a depressing line, I found it incongruous that directly after that quote, Elliot wrote: Frisch weht der Wind Der Heimat zu Mein Irisch Kind Wo weilest du? The translation of this piece states: The Wind blows freshly Towards the homeland My Irish Child Where are you roaming? The two phrases that caught my attention were, "The Wind blows freshly/Towards the homeland.

Functions of Secondary Market

Functions of Secondary Market: The secondary market provides an organized place and the mechanism for trading in securities. They also ensure that the deals struck in the stock are fair and within the framework of law. The efficient functioning of the stock exchange creates a conductive climate for an active and growing primary market for new issues. An active and healthy secondary market in existing securities leads to better psychology of expectations; considerable broadening of investment enquiries renders the task of raising resources by entrepreneurs easier.Good performance and outlook for equities in the stock exchanges imparts buoyancy to the new issue market. The good stock exchange facilities the following important activities in the economy of a country: i. Favorable climate for growth of primary market ii. Widening of investment opportunities for the investor iii. Improving availability of resources for the business enterprises iv. Buoyancy in new issues v. Increasing conf idence among the players of the market Important functions 1.Provide a continuous market: It is the important objective of the secondary market to ensure stability in price as the trading activity progresses. The stock market achieves this aim by providing a continuous market infrastructure to the investor, thereby ensuring liquidity in the market. Some important characteristics of a continuous market are: i. Frequency of trades; ii. Small spread between bid and ask prices; iii. Immediate execution of order; iv. Change in price being minimum as the transaction takes place; The enefits of continuous market are that it creates marketable liquid investments and facilitates collateral lending. 2. Frequency of sales: A market will be liquid only when a buyer/ seller can find seller/buyer. If there are no buyers/sellers for some securities or there is long wait before a buyer/ seller can find counterparty, such market are called illiquid markets. The primary criterion for a good market is whether investors can sell their portfolio holding quickly with minimal price fluctuation at the time of sale.Liquidity occupies a central place in evaluating the efficiency of exchange. The market should have three important dimensions of liquidity. They are: i. Depth ii. Breadth iii. Resilience Depth refers to the situation wherein buy and sell orders are available at the quoted price for the desired quantity. If it is not available, then the market is termed as shallow market. The number of the transaction or the number of orders determines the breadth of the market. Otherwise the market is known as thin.The response to orders to changes in price reflects the resilience of the market. 3. Empirical measurement of liquidity: Empirically, liquidity is measured by the number of days a company’s share is traded, out of the number of days in the year, when the market is open. The number of days particular share is being traded reflects the liquidity of the market. If it is trad ed actively 50%of the days when the market is open, then it is termed as liquid. The variation in price of the share from one trading day to another also determines the liquidity of the share.If the difference between the lowest asked(or offered) price and highest bid-price is wide, the market is said to lack depth and considered shallow. Actually bid- asked spread is an inverse measure of liquidity. ‘ Tick’ as the minimum difference in rates between two orders on the same side i. e. , buy or sell entered on the system for a scrip. Trading in scrips listed on BSE is done with the size of 5 paise, it is 1 paise, in case of mutual funds and others to encourage orders at finer rates and improve liquidity.In United states, variation of one –eighth point in the price from the immediate trade is considered liquid. In our country, the minimum tick start from 0. 25. 4. Fair price determination: The prices in the stock market are determined by the interplay of the forces of supply and demand. When the prices are going up, it is termed as bull phase and when the prices are going down, it is termed as bear phase. As seen earlier active, bidding and two-way auction trading takes place in the stock exchange. The result is as near a market for free trading and free competition, as can be found anywhere.The bargains that are struck are at the fairest price, determined by the basic laws of supply and demand. At time large scale speculator activities raise the price of the share. But such activities are ephemeral in nature. There is no fundamental relationship between book value, par value and market value of share, because the share price may experience a boom if there is large scale investment from an individual or mutual fund company and also during such period too much money chases a few shares.The performance of the stock exchange is also subject to speculation, which at times, drives up the prices above the investment worth and at others, below it. Un der the normal circumstances, one would leave the situation to the forces of the market- what the buyers and sellers willing to bid and to offer. But in India, conscious policy is adopted to make shares attractive to the foreign institutional investors who evaluates our market, in relation to the other emerging markets. The stabilization of the stock market prices around a reasonable level would be desirable. . Aid to Financing Activities: Listed company finds it helpful to sell further issues of their shares in the primary market based on the good performance of their earlier ones. An active market and the good market price’s for the company’s shares makes the task of raising funds through further issues easier. This facilitates the company to command good price for the subsequent primary issue in the market. Rights themselves have an immediate and a wide market in the stock exchanges, provided the price including the premium reflects a fair price.Thus the stock excha nges enable a company to market further issues successfully by creating a continuous market for the rights. 6. Other allied functions: * The market prices established in the stock exchange trading are useful for tax purpose. * The stipulation on disclosure and transparency ensures that the investors have access to information on the listed companies, particularly with regards to their financial condition. * It serves to protect the investor’s interest by eliminating the dishonest and irregular practices rampant in the brokerage trade. To ensure a measure of safety and fair dealing to protect investors interest. * To provide the instant valuation of securities caused by changes in the internal environment. * To induce companies to improve performance since the market price at the stock exchanges reflects the performance and this market price is readily available to investors. * Secondary marketing is vital to an efficient and modern capital market. * In the secondary market, s ecurities are sold by and transferred from one investor or speculator to another. * Risk management

Mp3 Player Industry Monopolistic Competition - 1314 Words

Nishant Nagesh Pai | | 06/12/2010 | 1. To what extent is the market for MP3 players an example of monopolistic competition? Show using diagrams the effects on the Apple iPod of increased competition from other firms successfully entering the market. Introduction The first Mp3 player was launched in the market in the late 90’s (Pham-Gia,2009). However it was due to the emergence of the Apple iPod in the Mp3 player industry in October 2001 which changed the niche market into a booming market. Since then it has been a large and fast growing market with new firms entering and introducing innovative products to capitalize on the demand created for this product. In this essay we will analyse the market for Mp3 players. Part 1 of the†¦show more content†¦Another key to the success of Apple’s iPod is it introduced a wide range of products to cater all segments of the buyers. Hence it could be said that increasing competition encouraged Apple to constantly innovate and enhance its product rage through implementation of market segmentation to gain leverage. In order to determine the effect increasing competition has had on the sales of the Apple iPod we will analyze the net sales report from the annual report obtained f rom the Apple website. Fig 1.2 shows the net sales of Apple iPod from 2002 to 2010. It can be observed that the sales were showing an upward trend from 2002 ($143 million) to 2008 ($ 9,153 million) but due to more firms successfully entering the market and bring in new innovations the sales of the Apple iPod have begun to show a slight decline in 2009 ($8,091 million) and 2010 ($8,274 million). Fig 1.2 Pricing of the product is another factor which is directly impacted by increasing competition. In a monopolistically competitive market when a firm introduces a product in the market it tends to price it high in order to earn maximum profits in the short run. This profit which the firm earns attracts other firms to enter into the market. Now with many firms selling similar products in the market, the firm which initially introduced the product will be forced to reduce its prices in order to compete with the newer firms in the longShow MoreRelatedEvolution of Monopolistic Competitive Market1962 Words   |  8 PagesEvolution of Monopolistic Competitive Market Brand loyalty, Generic Entry and Price Competition in MP3 Player Market Introduction In this paper I will reflect the evolution of the monopolistically competitive market and by doing so guiding the concept with an insight of the Mp3 player market and its actors. One of the actors on the Mp3 market is the IPod created by the innovating company Apple. The IPod was realised in March 2004 and was immediately a success. 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(5 marks) Question 4: The diagram on the left below illustrate an industry under oligopoly consisting of 10 equal-sized firms whilst the diagram on the right below indicates the price and quantity combination of one particular firm within the industry. Each of the firms produces an identical product. (a) Assuming that the firms form a cartel, what price will the cartel choose if it wishes to maximise