Linear elasticity

prices or taxes will generally have a less than one-to-one ratio of reduction of consumption i.e. even with higher prices and taxes, consumers would opt to continue their consumption of the “bad” (cigarettes and alcohol is estimated to score a price elasticity of demand of approximately -0,45) (O’Donoghue, 2006:1837). Secondly, the consumption of the sinful good is seen to be self-destructive and creates a negative internality (Lorenzi, 2004:60). This is generally accepted as the result of poor self-control

In my term paper, I would like to talk about Resilience which I believe is a prerequisite for an effective leader. Life has ups and downs and adversities are inevitable. Things can beyond our control, it is impossible for us to prevent unpleasant circumstances from happening. Difficulties and problems come out of nowhere, the stress and anxiety associated with adversity may knock us down if we cope with them inadequately. Chronic stress can lead to mental collapse if we still cannot manage them well

In this article on Industry Analysis, it explored the economics of the firm’s relationship with its upstream and downstream trading partners as well as with its competitors. The article highlights the Industry Analysis framework by using Michael Porter’s Five Forces and Brandenberger and Nalebuff’s Value Net, provide a structure that “enables us to systematically work through these wide-ranging and often complex economic issues.” Therefore, it is in the student’s ability to understand all these important

This approach is called Solid Isotropic Material with Penalty (SIMP), in which material is assumed to be dependent upon density linearly. In accordance to the SIMP technique, the design variables are a sum of material densities denoted as (ρ) that relates the stiffness of an element straight to the density of that element (James , et al., 2014). According to (Gomes , et al., 2013) the three main mathematical encounters with SIMP method are mesh dependency, checkboard patterns and local minima. To

It is all very well understanding resilience and acknowledging the need for it, but what is involved in being resilient? We know that we want to be resilient, don't we, but often don't know what that entails. This article unpacks some of the ideas around being more resilient and looks at the skills and attitudes required to cope with the slings and arrows of outrageous fortune, not to mention the deliberate and accidental consequences of people's actions, which have been with us the whole of life

One of the world’s toughest jobs is being a mother. Living in world where there’s many harmful things out there and nothing is predictable, it’s difficult to look out for one’s wellbeing, let alone another person’s. Growing up, my mother would watch me as I played outside because she knew that there were a lot of things that could happen to me, so she felt as though it was her job to protect me from those misfortunes. One could only imagine the hardships affiliated with being a mother during enslavement

Expect The Unexpected? Expectations is a predicament that a change will occur in the near future. However, in economics the word expectations definition pertains to either the predicament in change for the buyers or the sellers. For example, if a seller expects the price of a good to rise in the future the seller will store more of the good and sell less now and a greater quantity in the future. Similarly, a buyers, as N. Gregory Mankiw an economist points out "expectations about the future may

There are many ways to define resilience. Michael Neenan describes it as “the ability, in the face of difficulty, to retain flexible cognitive, behavioural and emotional responses” (2009). Similarly, the American Psychological Association offers this definition: “Resilience is the process of adapting well in the face of adversity, trauma, tragedy, threats or significant sources of stress — such as family and relationship problems, serious health problems or workplace and financial stressors” (Comas-Diaz

In the article, “How Kids Learn Resilience,” author Paul Tough introduces a staggering new statistic that 51 percent of public-school students in the United States fall below the federal government’s low-income cutoff (Tough, 2016). This shocking statistic to get our attention and address an even bigger problem involving the challenges of teaching low-income children. Before writing this article, Paul Tough wrote a book called, How Children Succeed. This book was written in 2012 and explored the

Resilience has been researched over the years as a variable that affects childhood development. Resilience is defined as the development of good outcomes, despite facing developmentally adverse threats (Masten, 2001). Something to consider when measuring resilience is that resilience does not develop in the absence of adverse threats or risks (Masten, 2001). Risk factors such as trauma, divorce, or socioeconomic status are just a few out of many potentially adverse situations a person can encounter