Economies of scale and diminishing returns Essay Example for Free

Economies of scale and diminishing returns Essay In Business Economics, the short run is defined as the concept that within a certain period of time, in the future, at least one input is fixed while others are variable and the long run is defined as a period of time in which all factors of production and costs are variable. The law of diminishing returns is a short run concept, which states that increasing successive units of a variable factor to a fixed factor will increase output but eventually the addition to output will start to slow down and would eventually become negative. This is because if capital is fixed, extra labour will eventually get in each other’s way as they attempt to increase production. E.g. think about the effectiveness of extra employees in a factory that’s maximum workers is 100. If the firm employs 150 workers, then the productivity will eventually decrease, as they will get in each other’s way etc. However, this law only applies in the short-term, as in the long run, all factors are variable. As you can see from the graph above, the average fixed cost (AFC) curve falls as output increases due to the fact that fixed costs are a decreasing proportion of total cost as output increases. Both the average total cost (ATC) and the average variable cost (AVC) curves fall, and then rise again. The curves start to rise after a certain point because diminishing return takes place. The distance on the y-axis between the ATC and the AVC represents the value of the average fixed cost (AFC). Just like the average variable cost and average total cost curves demonstrate, the marginal cost also falls, and eventually rises again as diminishing marginal returns take place. Economies of scale, however, refer to the advantages that arise from large-scale production, which in turn results in a lower average unit cost (cost per unit). It explains the relationship between the long run average costs of producing a unit of good with increasing level of output. Unlike  diminishing returns, economies of scale is a process that operates and is caused by a development over a long period of time. Economies of scale also have many sources whereas diminishing returns is the relationship between output and only one input of production.There are two different forms of economies of scale that could occur in a firm. The first is internal economies of scale. This refers to the advantages that are caused as a result of the expanding and growth of a firm/business. Internal economies of scale can be additionally categorized into commercial, managerial, financial and technical economies of scale. Commercial economies of scale arise from the purchase of raw materials and the sale of finished goods. When the firm’s output increases, they order larger quantities of the raw materials (bulk buying) and therefore these raw material firms favour these businesses, and offer lower prices due to their ordering of higher quantities. Managerial economies of scale is a process that follows the principle of the division of labour and creates specialization due to the firm’s ability to employ specialized employees, and this causes an increase in production efficiency. A financial economy of scale is when a large firm benefits by getting better credit facilities e.g. credit at cheaper rates, being able to negotiate better finance deals etc. Finally, a technical economy of scale arises due to large-scale production because there is a technical advantage in the use of large machinery in the production process. Technical economies of scale will most likely arise due to machinery being used in the production process, which are more efficient than human labour, and also require less maintenance, training and do not require payment. External economies of scale refers to the advantages firms/businesses can get as a result of the growth of the entire industry as a whole. Usually, the industry grows due to an improvement in a specific area of the industry, such as an increase in the local’s skill and training, and improving in the training facilities themselves, which causes an increase in the quality of training for the future employees or an increase in the foreign supply of labour with a higher skillset that before.

Group Work Reflection Example

Group Work Reflection Example In today’s work culture and dynamic environment educational institutions and organizations require students and employees to work together in groups at certain tolerant and coordinative levels, thus proving â€Å"experience of working in group or teams† (Blease, 2006 cited Kelly, and P.2007). The students are asked to work in groups as it allows students to learn interactively. Moreover the researchers report that, regardless of the subject matter; students working in small groups tend to learn more of what is taught and retain it longer than when the same content is presented in other instructional formats (Barbara Gross Davis, Tools for teaching). There are number of possible reasons why students are asked to work in small groups. Some of them are as follows: Generating a broad array of possible alternative points of view or solution to a problem Giving students a chance to work on a project that is too large or complex for an individual Allowing students with different background to bring their special knowledge, experience , or skills to a project , and to explain their orientation to others Giving students a chance to teach others Giving students a structured experience so they can practice kills applicable to professional situations There are numbers of benefits for students working in groups for short period of time or large projects such as: Students who have difficulty talking in class may speak in a small group. More students, overall, have a chance to participate in class. Talking in groups can help overcome the anonymity and passivity of a large class or a class meeting in a properly designed room. Students who expect to participate actively prepare for class. Students get prepared for their professional future. Our group was formed to complete an assignment on a case study â€Å"Merged School Business†. The assignment was to critically analyse the case study and to find out the problems in the merger and then provide recommendations on strategies and practices to management. The purpose of this report is to reflect my experience on our group assignment. In this report I will discuss my experience in relation to formation of our group, organization of work and how did we manage our group work. Group Formation This is the initial stage. This is the time when the group members and the tasks of the group will be decided. Students can form their own groups or either they can be assigned. Our case falls in first category teacher gave us some time to form our group so we selected our group members and formed a group of five. We were familiar to each other faces as we all were class mates; but at that time everyone introduce himself/herself to others. We decided to select a leader to make communication smooth and clear, than we took contact numbers from each other. We also discuss a bit about our group assignment that what needs to be done. Everyone shared their ideas on the project. Organization of Work The first challenge faced after group formation was how to organise the work to complete the task on time. At first stage we divided the task in to smaller pieces and assign these parts to each team member. Developing a time line is the best way to complete the task on time, so we decided for each task when it should be completed. Now all team members know who will do what, in what format and by when. We made our Gantt chart like this: *Denotes task for meeting Understanding and Managing Group Processes In order to perform effectively in a group it is important to understand and manage group processes properly. Some suggestions in this regard are as under: Group work best if everyone has a chance to make strong contributions to the group project and to the discussion at meetings. At the beginning of each meeting, decide what you except to have accomplished by the end of meeting. Select someone from group to write ideas to record all meetings and group’s decisions. Allocate responsibility for group process; in order to do that a group leader can be selected. Save some time towards the end of the first meeting and periodically as the group continues; to check in with each other on how the process is working. By following the mentioned group process we proceeded with our group assignment as follows: Including Everyone and Their Ideas: We gave a chance to everyone to contribute their ideas about assignment. Our goal was to produce as many ideas as possible. We listened all the ideas carefully and then we mentioned all the ideas sheet so we don’t forget them or they don’t get lost. By using this approach we improved our group work a lot and did some creative modifications as well. Group Leadership Group leadership helps to work group more effectively, so we chosen a group leader. The group leadership helped us in number of ways such as: Group leader was responsible to monitor that the work is organized to get it done. He was also responsible for understanding and managing group interactions to keep the positive atmosphere. The leader also encouraged every one’s contributions with an eye to accomplish the work. In order to do this, he observed our group work process to check is the group moving quickly, leaving some people behind? Is it time to shift focus to another aspects of the task? He also encouraged group interactions and maintained a positive atmosphere. He also anticipated what information, material or other resources the group needs as it works. He was also responsible for beginning and ending on time. So he planed work accordingly. Focusing on Direction After we gathered a large numbers of ideas we categorize and examine them. Then we choose some ideas among all of them. Then we discuss the advantages and disadvantages of each of them. We also ask group members to vote for ideas that helped us to eliminate some of them. Moreover based on this voting we rank the ideas in priority order and then finalized them. Making a Decision After everyone’s views are heard and all the points of agreement and disagreement are identified, the group tried to arrive at an agreement that makes sense to everyone. Decisions are an important for group. So we were quiet careful in deciding. Our group made all the decisions based on all members’s input. Problems Here are some problems which we encountered during our group project: Floundering: While we were figuring out the work and were trying to decide everyone’s role in the group, the group work got a bit delayed and some work got postponed. Dominating or Reluctant Participants: Some of the group members were taking more share of the discussion by talking too often by telling lengthy stories and by not letting others finish. While others were speaking rarely as they were having difficulty to get in the conversation. Digressions and Tangents: As some group members were telling many interesting side stories it was acting as an obstacle in group progress and we were lagging behind out timeline. Getting Stuck: After giving the case background and highlighting some issues we got stuck at solutions or possible strategic solutions. This problem was moving our group progress down than expected. Recommendations/Solutions In order to improve the group project and get better results we can give some recommendations to mentioned problems such as: To avoid delays in work at initial level some sentences can really help such as: Here’s my understanding of what we are trying to accomplish. Do you all agree? What would help us move forward: data? Resource? Let’s take a few minutes to hear everyone’s suggestions about how this process might work better and what we should do next. In order to discourage dominating people humour can be used. For the people who do not speak non verbal actions such as looking at them can be used to include them in discussion. Moreover asking quiet participant about their thoughts outside the group may lead their participation within group. In order to stick with main theme of discussion, try to summarize where discussion was before digression. When a group feels that it is not making a progress they should look on the things which are preventing them from progression. Conclusion At the end of the project, what matters the most is what we have learned from our group work experiences. During the tenure of working together, situations cropped up and tested us on the scales of making the decisions and handling the pressures and exceptions. As per Belbin (1993), Team performance is influenced by the kinds of people making up a group, and testing indicates that certain combinations of personality-types perform more successfully than others but the key to its implementation is how the team analyzes its performance and then adapts the situation so as the result can be achieved. Team work was definitely one of the most important aspects of our project. We would have been unable to accomplish anything if we had not worked together. Even though the design process was broken up into individual pieces, we often consulted with one another when we ran into difficulties with our work. Team work was definitely one of the most important aspects of this project. We would have been unable to accomplish anything if we had not worked together. Even though the design process was broken up into individual pieces, we often consulted with one another when we ran into difficulties with our work. As a result we managed to achieve a strong out come thus enhancing our knowledge, competencies and empowering group as a whole. References Ellen Sarkisian, Derek Bok Center., 2007. â€Å"Working in Groups† Derek Bok Center for teaching and Learning,Harvard University J. Sketchley, A. Mejia, I. Aitken et al., Work Improvement in Health Services. Geneva: World Health Organization, 1986 Moon J.(2004), A Handbook of Reflective and Experiential Learning, London, Routledge Falmer Experience of working in groups or teams, Human Resource management,UkEssay.com

The Genius of Hamlet, the Very Sane Prince of Denmark Essay -- Hamlet

The Genius of Hamlet, the Very Sane Prince of Denmark Hamlet in Shakepeare's The Tragedy of Hamlet, Prince of Denmark is often seen as a lunatic. Lucid and ingenious, Prince Hamlet falls into a state of emotional turmoil, but he is never insane. Hamlet feigns madness to reveal his anguish concerning the two women he used to love - his mother Gertrude and his lover Ophelia. To escape estrangement from his countrymen, Hamlet appears to waver between madness and sanity. And, to avoid moral estrangement, the Prince plans on revenging his father's death under the guise of madness. There is no question that Hamlet feigns insanity, and he does so to voice his emotions to the two closest women in his life, to influence the opinions of his peers, and to plan the revenge of his father's death. With his famous line "frailty, thy name is woman" (I, ii. 146), Hamlet descends into an abyss of emotional turmoil. He loses faith in his mother Queen Gertrude and in his lover Ophelia. Feigning madness, Hamlet is able to make his innermost anguish known to these two important women in his life. Still grieving at his father's death, Hamlet is shocked when his mother Queen Gertrude marries Claudius two months after the King's death. At this point in the play, Hamlet does not feign madness but is genuinely and openly melancholy. As Hamlet explains to his mother, his "inky cloak" shows his grief, but the pain is much deeper. Grief is not a sign of madness. Gertrude feels that her son has greatly changed, for he no longer views her as his mother . Instead, he calls her his â€Å"good-mother† - his step mother. Gertrude marrying her husband's brother is incestuous, and this bestirs feelings of bitterness in Hamlet. However, sinc... ...mark. Unable to speak freely before Queen Gertrude and Ophelia, Hamlet exaggerates his emotional turmoil so that these two women will soften their attitudes towards him and listen to him. Not only does Hamlet wish to win back the hearts of Gertrude and Ophelia, these two women also serve to verify Hamlet's supposed madness to the other characters. Furthermore, Hamlet must hide his rationality and cunning from his peers and from King Claudius so that he may proceed with his revenge plan. Freed from the suspicions of his mother, his lover, his peers, and King Claudius, Hamlet succeeds in avenging his father's death and in remaining sane throughout the play. WORK CITED Shakespeare, William. The Tragedy of Hamlet, Prince of Denmark. In The Norton Shakespeare: based on the Oxford Edition. Edited by Stephen Greenblatt. New York: W.W. Norton & Company, Inc., 1997.

Greenpeace :: essays research papers

Greenpeace is an independent organization campaigning to ensure a just, peaceful, sustainable environment for future generations. It began in Canada in 1971 and today has a presence in more than 40 countries with 2.4 million supporters worldwide. Greenpeace Australia was founded in 1977 and today we have more than 75,000 supporters. Prevent dangerous climate change by phasing out fossil fuels (oil, coal, gas) and replacing them with clean renewable energy such as solar. Use the 2000 Olympic Games to showcase and implement solutions to global environmental problems, including alternatives to toxic materials and renewable energy. Protect oceans from overfishing and establish a global whale sanctuary. Protect the world's remaining old growth forests. Eliminate sources of dioxin and other persistent organic pollutants (POPs) including PVC, and ensure legislation to prevent toxic waste dumping. Protect future generations from the effects of nuclear contamination by ending the nuclear fuel cycle, stopping radioactive discharges and plutonium shipments. Protect biodiversity by opposing the privatisation and manipulation of the plant and animal gene pool. Cyberactivists Many Greenpeace supporters use the Internet to work with Greenpeace. Their website is an interactive source of information and action - by sending letters, faxes, emails - to support their campaigns Frontliner’s Everyday more than 100 Greenpeace Frontline campaigners are on the streets of Australia talking to the public about their work and raising funds to enable it to continue. Frontline develops important relationships with Greenpeace by recruiting long term supporters. Local Groups Greenpeace is establishing Local Group networks in all state capitals to support their key campaigns through the coordination of local events, and by applying public pressure through campaign activities such as letter writing. Local volunteers are an important resource for research and public education. Volunteers Greenpeace rely on volunteers to support their daily work. They provide a vital role and are active in all areas of campaigning. Staff Currently Greenpeace employs 60 staff in Sydney, Canberra and the Pacific. Permanent positions are publicly advertised History / Achievements  · 1971 After first Greenpeace action the US abandons its nuclear testing grounds at Amchitka, Alaska.  · 1975 France ends atmospheric nuclear tests in the Pacific after Greenpeace protests.  · 1979 Last Australian whaling station closed.  · 1982 Global whaling moratorium adopted by the International Whaling Commission.  · 1988 Following Greenpeace actions in the early 80s, a worldwide ban on incinerating waste at sea is agreed.  · 1989 United Nations moratorium on high seas large-scale driftnets is passed. Greenpeace :: essays research papers Greenpeace is an independent organization campaigning to ensure a just, peaceful, sustainable environment for future generations. It began in Canada in 1971 and today has a presence in more than 40 countries with 2.4 million supporters worldwide. Greenpeace Australia was founded in 1977 and today we have more than 75,000 supporters. Prevent dangerous climate change by phasing out fossil fuels (oil, coal, gas) and replacing them with clean renewable energy such as solar. Use the 2000 Olympic Games to showcase and implement solutions to global environmental problems, including alternatives to toxic materials and renewable energy. Protect oceans from overfishing and establish a global whale sanctuary. Protect the world's remaining old growth forests. Eliminate sources of dioxin and other persistent organic pollutants (POPs) including PVC, and ensure legislation to prevent toxic waste dumping. Protect future generations from the effects of nuclear contamination by ending the nuclear fuel cycle, stopping radioactive discharges and plutonium shipments. Protect biodiversity by opposing the privatisation and manipulation of the plant and animal gene pool. Cyberactivists Many Greenpeace supporters use the Internet to work with Greenpeace. Their website is an interactive source of information and action - by sending letters, faxes, emails - to support their campaigns Frontliner’s Everyday more than 100 Greenpeace Frontline campaigners are on the streets of Australia talking to the public about their work and raising funds to enable it to continue. Frontline develops important relationships with Greenpeace by recruiting long term supporters. Local Groups Greenpeace is establishing Local Group networks in all state capitals to support their key campaigns through the coordination of local events, and by applying public pressure through campaign activities such as letter writing. Local volunteers are an important resource for research and public education. Volunteers Greenpeace rely on volunteers to support their daily work. They provide a vital role and are active in all areas of campaigning. Staff Currently Greenpeace employs 60 staff in Sydney, Canberra and the Pacific. Permanent positions are publicly advertised History / Achievements  · 1971 After first Greenpeace action the US abandons its nuclear testing grounds at Amchitka, Alaska.  · 1975 France ends atmospheric nuclear tests in the Pacific after Greenpeace protests.  · 1979 Last Australian whaling station closed.  · 1982 Global whaling moratorium adopted by the International Whaling Commission.  · 1988 Following Greenpeace actions in the early 80s, a worldwide ban on incinerating waste at sea is agreed.  · 1989 United Nations moratorium on high seas large-scale driftnets is passed.

Selfishness and Misguided Views in Madame Bovary Essay -- Madame Bovar

Selfishness and Misguided Views in Madame Bovary The majority of Gustave Flaubert's 1857 classic novel, Madame Bovary , tells of the marriage and two adulterous affairs of one lady, Madame Emma Bovary. Emma, believing she is in love, agrees to marry the widower doctor who heals her father's broken leg. This doctor, Charles Bovary, Jr., is completely in love with Emma. However, Emma finds she must have been mistaken in her love, for the "happiness that should have followed this love" (44) has not come. Emma is misguided in her beliefs on the meaning of love and happiness. It is also apparent that she considers herself more important than anyone connected with her, including her husband, her daughter, and her two lovers. Emma's misguided views and selfishness clearly deny her the happiness to which she feels she is entitled. Madame Bovary begins revealing how she is denied happiness not long after she and Charles are married. A controlling thought resounds in Madame Bovary's mind: " 'Good heavens! why did I marry?' " (58). Emma refuses the happiness Charles offers, despite--or perhaps in spite--of his deep devotion to his wife, and wills herself to separate from her husband. She wonders "if by some other chance combination it would not have been possible to meet another man; and she tried to imagine what would have been these unrealized events, this different life, this unknown husband" (58). Madame Bovary, her loving husband's lack of qualities in mind, instead wants for a "handsome, witty, distinguished, attractive" (58) lover. Assuming this is the version of lover to whom her childhood friends are now married, Emma is also consumed with jealousy. At the ball at Vaubyessard, Emma ridicules Charles when h... ...al touches; and finally upon the soles of the feet, so swift of yore, when she was running to satisfy her desires, and that would now walk no more" (419). Madame Bovary selfishly leaves her husband and daughter to suffer in the poverty that she has caused. She has never loved the two people whom she should have loved most--the two people who did love her most. Happiness will be prevented when selfishness and misguided views are present. Instead of longing for things that one cannot have and emotions that are simply unattainable, one should glory in the love of the family and friends one has, and enjoy whatever objects one may attain. Only then may one find the true happiness that one's soul longs after. Works Cited Flaubert, Gustave. The World's Great Classics: Madame Bovary . Translated from French by Eleanor Marx-Aveling. New York: Grolier Incorporated, n. d.

What Makes a Good Psychology Essay?

Words: 525 â€Å"What makes a good Psychology essay? † When writing an essay it is important to explain what the essay question is asking for. This helps when it comes to understanding what information is required from the essay. Before starting the essay the topic area that the essay question refers to must be recognised and well-understood, so researching topic areas before beginning an essay is essential. There are many modules in psychology such as cognitive psychology, individual and abnormal behaviour, biological psychology, social and development psychology and so on.It is important to determine which of these modules the essay question is relating to. Once the essay question has been understood the next step is deciding in what information to include. The information must be valid and relevant to the question. The content of the essay could be either descriptive or analytical; a descriptive essay, for example, needs to be factual and concise describing a specific area of psychology. An analytical essay on the other hand, requires you to compare and contrast different methods or models.A psychological essay involves specialist vocabulary, the content of the essay is written using psychological terminology in a clear and concise manner. To be able to write this way technical terms and definitions must be understood. An essay must be precise and also be able to distinguish between fact, opinion and argument. There are other factors that affect the quality of a psychology essay such as clarity and grammar. An essay must be easy to understand but yet use complex psychological terms. The point of a psychological essay is to convey relevant information in an academic manner.It also helps to know what information gains mark, as to avoid the inclusion of any irrelevant information. Academic English must be used to ensure that the person writing the essay is not misunderstood by the essay marker, academic English is more formal than â€Å"normal† En glish as it creates a sense of professionalism and confidence. Psychological essays have a generally accepted structure. They are written in continuous prose. The first section is an introduction providing the reader with background information about the topic area also includes the hypothesis or aim of the essay.The main section or discussion provides accurate descriptions of the topic area and the theories or research related through it. Essentially the main section attempts to answer the hypothesis or the title of the essay. Any relevant statistical information would be discussed in this section but still using a formal English style. The last section is a conclusion to the essay; this contains a summary of the discussion or main section, an evaluation will also be included and any sources or references would be cited here.Good psychological essays always have supporting data or evidence; the inclusion of these would make a reliable and precise essay. Psychological essays cite so urces using a specific method where the name of the author is written with the date of the supporting publication following in brackets. The Harvard system of referencing is used in psychological essays, both direct and indirect forms of referencing can be used. I have concluded that a good psychological essay would follow the processes I have discussed. Source – (www. psy. gla. ac. uk)

Nectar in a Sieve Discussion Questions

Nectar in a Sieve Inner/Outer Questions Emily Murphy 1st period 8/30/11 1) What is the main character’s name in the book? A: Rukmani 2) What do you think could have happened if Ira was given the medicine the Rukmani had to bear children for her first husband? A: She would have been severely neglected and abused, for he seems to be not a trustworthy man. 3) What is the underlying theme of the importance of fertility? A: In Hindu society, fertility and the ability to take care of children decides how successful a woman will be in a marriage and whether the marriage will last. So, the central idea of fertility is nothing new to books about Hinduism. 4) Can you provide a definition of the title? A: Nectar is the drink of the gods according to the Hindus because it’s savory and sweet. But when you put it in a sieve, the sweetness is lost and it’s no longer a good drink. 5) What is the symbolic meaning for the tannery? A: The tannery is a symbol of urbanization and the outside world coming into their cultural bubble. The whole village is kind of a town luck in time. 6) Identify the problem with the caste system in the setting of the novel. A: Especially in Rukmani’s case, sometimes a girl of a middle or low caste is forced to marry below her caste simply because her family is not financially ready. 7) What evidence is there to support that Rukmani’s parents are not financially stable? A: Rukmani was the fourth daughter born to her parents, so her oldest sister had a lavish wedding lasting for days, which was very expensive. Consequentially, by the time Ruku got married, her wedding was short and plain. 8) What was the turning point in the novel? A: The turning point was definitely when Nathan and Rukmani had to leave their land because the tannery bought it. This is so because everything important to Nathan was in that land, and everything goes downhill from there. 9) What was the author’s purpose for not specifying the exact time and place? A: Markandaya prevents a lot of work and attention on the subject of location. The reader spends more time focused on the story, and the author does not have to worry about correct facts about the location and time period. 10) How are Nectar in a Sieve and Ishmael alike? A: They both point out some of the flaws in humans and their society.