Normal And Inferior Goods And Examples Economics Essay

Normal And Inferior Goods And Examples Economics Essay A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer demand for the good or service will decrease and vice versa.   Law Of Demand This law summarizes the effect price changes have on consumer behavior. For example, a consumer will purchase more pizzas if the price of pizza falls. The opposite is true if the price of pizza increases.   people generally buy more of a good when the price is low and less of it when the price is high. This is a general rule that applies to most goods called normal goods. As the price of a normal good increases, people buy less of it because they are usually able to switch to cheaper goods. Normal and Inferior Goods and Its Examples Normal goods can be defined as those goods for which demand increases when the income of the consumer increases and falls when income of the consumer decreases, price of the goods remaining constant. Examples of normal goods are demand of LCD and plasma television, demand for more expensive cars, branded clothes, expensive houses, diamonds etc†¦ increases when the income of the consumers increases. To the opposite side of normal goods are the inferior goods. It is defined as those goods the demand for which decreases when the income of the consumer increases. Examples of inferior goods are consumption of breads or cereals and since the income of the consumer increases he moved towards consumption of more nutritious foods and hence demand for low priced product like bread or cereal decreases. Another example can be of use of public transportation, when income is low people use more of public transportation which is not the case when their income increases. Hence from the above one can see that other things remaining constant as the income of consumer increases demand for normal goods will increase and demand for inferior goods decrease and vice versa. GIFFEN GOODS In economics, a giffen good is an inferior good with the unique characteristic that an increase in price actually increases the quantity of the good that is demanded.   This provides the unusual result of an upward sloping demand curve. This phenomenon is notable because it violates the law of demand, whereby demand should increase as price falls and decrease as price rises. For example-consumption of bread increased as its price increased.as bread is a staple food for low income consumers.A rise in its price would not stop people from buying as much as before.But poor people would now have so little extra money to spend on meat or other luxury foods that they would abandon on their demand for these and instead buy more bread to fill up their stomachs.the result was that a rise in the price of bread led to a rise in the demand for bread. This happens because of the interactions of the income and substitution effects.   SUBSTITUTION EFFECT : if the price of a good rises, consumers will buy less of that good and more of others because it is now relatively more expensive than other goods. If the price of good falls, consumers will buy more of that good and less of others. These changes in quantity demanded due to the relative change in prices are known as substitution effectof a price change. INCOME EFFECT : If the price of a good rise, the real income of consumers will fall. They will not be able to buy the same basket of goods and services as before.Consumers can react to this fall in real income in one of the two ways.if the good is a normal good,they will buy less of the good. If the good is an inferior good, they will buy more good.these changes in quantity demanded caused by a change in real income is known as income effect. For an inferior good, the substitution effect and income effect work in opposite directions.A rise in price leads to a fall in quantity demanded because the relative price of the good has risen.but it leads to a rise in quantity demanded because consumers real income have fallen. However, the substitution effect outweighs the income effect because overall it is still true for an inferior good that a rise in price leads to an overall fall in quantity demanded. A Giffen Good is a special type of inferior good. A rise in price leads to a fall in quantity demanded because of the substitution effect but a rise in quantity demanded because of the income effect.However, the income effect outweighs the substitution effect, leading to rises in quantity demanded. Depending on whether the good is inferior or normal, the income effect can be positive or negative as the price of a good increases. .The interesting thing about a giffen good, is that when the price of a giffen good rises, the income effect is greater than the substitution effect.   So if a good is inferior, the income effect will be positive and larger than the negative value from the substitution effect.   A giffen good faces an upward sloping demand curve because the income effect dominates the substitution effect, meaning that quantity demanded increases as price rises C:UsersadminDesktopassignmentWhat is a giffen good, an example with graphs_filesgiffen+good.png Type Of Good Substitution Effect Income Effect Total Effect Normal good Fall Fall Fall Inferior Good Fall Rise Fall because substitution effect > income effect Giffen Good Fall Rise Rise because substitution effect MR, then P > MC is also true.  Ã‚  A monopolist charges a higher price than would competitive producers selling in the same market.   Profit Maximization Under Monopoly Q MC ATC MR P Profit Clearly, the price elasticity of demand plays a crucial role in monopoly price setting. As long as demand is elastic, total revenue will rise when the monopoly lowers its price, but this will not be true when demand becomes inelastic. Therefore, the monopolist will expand output only in the elastic portion of its demand curve. As monopoly is a form of imperfect market organization, there is no difference between firm and industry. A monopoly firm is said to be an industry. Thus monopoly means the absence of competition. There are strong barriers to entry into the industry. As a result, seller has full control over the supply of the commodity. Features of Monopoly: 1. One seller and large number of buyers: Monopoly is a form of imperfect market structure where there is only one seller of a product. A monopoly firm may be owned by a person, a few numbers of partners or a joint stock company. The characteristic feature of single seller eliminates the distinction between the firm and the industry. A monopolist firm is itself the industry. Under monopoly there are large numbers of buyers although the seller is one. No buyers reaction can influence the price. 2. No close substitute: Under monopoly a single producer produces single commodities which have no close substitute. As the commodity in question has no close substitute, the monopolist is at liberty to change a price according to his own whimsy. Monopoly can not exist when there is competition. A firm is said, to be monopolist only when it is the single producer and supplier of the product which have no close substitute. Under monopoly the cross elasticity of demand is zero. Cross elasticity of demand shows a change in the demand for a good as a result of change in the price of another good. 3. Strong barriers to the entry into the industry exist: In a monopoly market there is strong barrier on the entry of new firms. Monopolist faces no competition. As there is one firm no other rival producers can enter the market of the same product. Since the monopolist has absolute control over the production and sale of the commodity certain economic barriers are imposed on the entry of potential rivals. 4. Nature of demand curve: In case of monopoly one firm constitutes the whole industry. The entire demand of the consumers for a product goes to the monopolist. Since the demand curve of the individual consumers lopes downward, the monopolist faces a downward sloping demand curve. A monopolist can sell more of his output only at a lower price and can reduce the sale at a high price. The downward sloping demand curve expresses that the price (AR) goes on falling ns sales are increased. In monopoly AR curve slopes downward mid MR curve lies below AR curve. Demand curve under monopoly la otherwise known as average revenue curve. 5. Homogeneous Product A monopoly firm manufactures a commodity that has no close substitute and is a homogeneous product. With the absence of availability of a substitute, the buyer is bound to purchase what is available at the tagged price. For instance: there is no substitute for railways as the bulk carrier. Thus, to be the sole seller, in the monopolistic setup, a unique product must be produced 6. Price Discrimination Price discrimination can be defined as the practice by a seller of charging different prices from different buyers for the same good or service. A monopolist has the leverage to carry out price discrimination as he is the market and acts as per his suitability. 7. Price Elasticity With regards to the demand of the product or service offered by the monopolizing company or individual, the price elasticity to absolute value ratio is dictated by price increase and market demand. It is not uncommon to see surplus and/or a loss categorized as deadweight within a monopoly. The latter refers to gain that evades both, the consumer and the monopolist. Advantages of monopoly Monopoly avoids duplication and hence wastage of resources. A monopoly enjoys economics of scale as it is the only supplier of product or service in the market. The benefits can be passed on to the consumers. Due to the fact that monopolies make lot of profits, it can be used for research and development and to maintain their status as a monopoly. Monopolies may use price discrimination which benefits the economically weaker sections of the society. For example, Indian railways provide discounts to students travelling through its network. Monopolies can afford to invest in latest technology and machinery in order to be efficient and to avoid competition. Disadvantages of monopoly   Poor level of service. No consumer sovereignty. Consumers may be charged high prices for low quality of goods and services. Lack of competition may lead to low quality and out dated goods and services. MONOPOLIST EQUILIBRIUM WITH ZERO MARGINAL COST   Under certain exceptional cases, the cost of additional units of output, i.e., marginal cost (MC) may be equal to zero. With constant value zero of marginal cost, the value of average cost is also constant and is equal to zero. With zero cost of production, the monopolist has only to decide at which output, the total revenue will be maximum. And total revenue is maximum, at the output level at which marginal revenue is equal to zero. Further, with zero marginal cost, the condition of profit maximization, i.e., the equality of marginal cost (MC) and marginal revenue (MR) can be achieved, where the latter is also equal to zero.   Fig.   shows the equilibrium of the monopolist, where marginal cost is equal to zero. E is the point of monopolist equilibrium, where MC cuts MR from below. The equilibrium price and the equilibrium quantity at this equilibrium are OP and OQ respectively. Here, total revenue and hence total profits (area OPBE in   fig. ) of the monopolist are maximum. Beyond OQ level of output, MR becomes negative and total revenue starts declining. As explained in Chapter 16 on Market Structure, under heading Relation among AR, MR and Price Elasticity of Demand, Page 485 elasticity of demand on the AR curve corresponding to zero marginal revenue is equal to one. Therefore, with zero cost of production, monopolist equilibrium will be established at a level, where elasticity of demand is unitary. Description: Zero Cost of Production.JPG  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Fig. : Monopolist Equilibrium with Zero Cost of Production It is important to note that the monopolist will never produce the output at any level, where MR is negative. If he does so, his total revenue will fall as output increases. He can increase total revenue by reducing the output. In other words, the monopolist can earn larger profits by restricting the output. Further, since MC cannot be negative, equality of MC and MR (equilibrium condition) cannot be achieved, where MR is negative. We know from the relationship among average revenue (AR), marginal revenue (MR) and elasticity of demand7 that when marginal revenue is negative, elasticity of demand is less than one. Therefore, no rational monopolist will produce on that portion of the demand curve, where MR is negative, i.e., the elasticity of demand is less than one? That is why; no monopolist ever operates on the inelastic portion of the average revenue curve or the demand curve. With the positive marginal costs (which is most usually the case), the monopolist fixes his level of output for which MR is also positive, i.e., total revenue rises with increase in the level of output. In other words, the equilibrium will always lie, where elasticity of demand is greater than one. In   fig. , if the price is fixed at point B (middle point of the demand curve), where the elasticity of demand is equal to one, the MC (whether straight line or U-shaped) curve will pass through the MR curve at zero point. Here, both the MC and the MR are zero. It is a rare possibility. Further, below the middle point B of the demand curve, elasticity of demand is less than one. If the price is fixed in this inelastic portion of the demand curve, both the MC and the MR assume negative values, as the point of intersection between them is below point E on the MR curve in   fig. . However, MC can never be negative. Given positive costs, MC curve must cut the MR curve from below at a point, where both the MC and the MR are positive. The equilibrium in this case will be established at a point above E on the MR curve in the figure and the price will be fixed in the elastic portion of the demand curve, i.e., above the middle point of the AR curve in   fig. (source: transtutors.com) Q3)World Economic Outlook The global recovery is threatened by intensifying strains in the euro area and fragilities elsewhere. Financial conditions have deteriorated, growth prospects have dimmed, and downside risks have escalated. Global output is projected to expand by 3 ¼ percent in 2012 (Table 1  and  Figure 1)-a downward revision of about  ¾ percentage point relative to the  September 2011 World Economic Outlook (WEO). This is largely because the euro area economy is now expected to go into a mild recession in 2012 as a result of the rise in sovereign yields, the effects of bank deleveraging on the real economy, and the impact of additional fiscal consolidation. Growth in emerging and developing economies is also expected to slow because of the worsening external environment and a weakening of internal demand. The most immediate policy challenge is to restore confidence and put an end to the crisis in the euro area by supporting growth, while sustaining adjustment, containing deleveraging, and providing more liquidity and monetary accommodation. In other major advanced economies, the key policy requirements are to address medium-term fiscal imbalances and to repair and reform financial systems, while sustaining the recovery. In emerging and developing economies, near-term policy should focus on responding to moderating domestic growth and to slowing external demand from advanced economies. Financial risks escalate, global growth decelerates Global growth prospects dimmed and risks sharply escalated during the fourth quarter of 2011, as the euro area crisis entered a perilous new phase. Activity remained relatively robust throughout the third quarter, with global GDP expanding at an annualized rate of 3 ½ percent-only slightly worse than forecast in the  September 2011 WEO. Growth in the advanced economies surprised on the upside, as consumers in the United States unexpectedly lowered their saving rates and business fixed investment stayed strong. The bounce back from the supply-chain disruptions caused by the March 2011 Japanese earthquake was also stronger than anticipated. Additionally, stabilizing oil prices helped support consumption. These developments, however, are not expected to sustain significant momentum going forward. By contrast, growth in emerging and developing economies slowed more than forecast, possibly due to a greater-than-expected effect of macroeconomic policy tightening or weaker underlying growth. Description: Figure 1 Table 1. Overview of the  World Economic Outlook  Projections (Percent change unless noted otherwise) Year over Year Projections Difference fromSeptember 2011 WEOProjections Q4 over Q4 Estimates Projections 2010 2011 2012 2013 2012 2013 2011 2012 2013 World Output  1 5.2 3.8 3.3 3.9 -0.7 -0.6 3.3 3.4 4.0 Advanced Economies 3.2 1.6 1.2 1.9 -0.7 -0.5 1.3 1.3 2.1 United States 3.0 1.8 1.8 2.2 0.0 -0.3 1.8 1.5 2.4 Euro Area 1.9 1.6 -0.5 0.8 -1.6 -0.7 0.8 -0.2 1.2   Ã‚  Ã‚  Ã‚  Germany 3.6 3.0 0.3 1.5 -1.0 0.0 1.8 0.7 1.6   Ã‚  Ã‚  Ã‚  France 1.4 1.6 0.2 1.0 -1.2 -0.9 0.9 0.5 1.3   Ã‚  Ã‚  Ã‚  Italy 1.5 0.4 -2.2 -0.6 -2.5 -1.1 -0.1 -2.7 0.9   Ã‚  Ã‚  Ã‚  Spain -0.1 0.7 -1.7 -0.3 -2.8 -2.1 0.2 -2.1 0.6 Japan 4.4 -0.9 1.7 1.6 -0.6 -0.4 -0.9 1.9 1.5 United Kingdom 2.1 0.9 0.6 2.0 -1.0 -0.4 0.8 1.0 2.4 Canada 3.2 2.3 1.7 2.0 -0.2 -0.5 2.1 1.7 2.0 Other Advanced Economies  2 5.8 3.3 2.6 3.4 -1.1 -0.3 2.9 3.2 3.5   Ã‚  Ã‚  Ã‚  Newly Industrialized Asian Economies 8.4 4.2 3.3 4.1 -1.2 -0.3 3.8 4.3 3.8 Emerging and Developing Economies  3 7.3 6.2 5.4 5.9 -0.7 -0.6 5.9 6.0 6.3 Central and Eastern Europe 4.5 5.1 1.1 2.4 -1.6 -1.1 3.4 1.4 3.0 Commonwealth of Independent States 4.6 4.5 3.7 3.8 -0.7 -0.6 3.2 3.5 3.7   Ã‚  Ã‚  Ã‚  Russia 4.0 4.1 3.3 3.5 -0.8 -0.5 3.5 2.8 4.0   Ã‚  Ã‚  Ã‚  Excluding Russia 6.0 5.5 4.4 4.7 -0.7 -0.4 . . . . . . . . . Developing Asia 9.5 7.9 7.3 7.8 -0.7 -0.6 7.4 7.9 7.6   Ã‚  Ã‚  Ã‚  China 10.4 9.2 8.2 8.8 -0.8 -0.7 8.7 8.5 8.4   Ã‚  Ã‚  Ã‚  India 9.9 7.4 7.0 7.3 -0.5 -0.8 6.7 6.9 7.2   Ã‚  Ã‚  Ã‚  ASEAN-5  4 6.9 4.8 5.2 5.6 -0.4 -0.2 3.7 7.4 5.0 Latin America and the Caribbean 6.1 4.6 3.6 3.9 -0.4 -0.2 3.9 3.3 5.0   Ã‚  Ã‚  Ã‚  Brazil 7.5 2.9 3.0 4.0 -0.6 -0.2 2.1 3.8 4.1   Ã‚  Ã‚  Ã‚  Mexico 5.4 4.1 3.5 3.5 -0.1 -0.2 4.1 3.1 3.6 Middle East and North Africa (MENA)  5 4.3 3.1 3.2 3.6 . . . . . . . . . . . . . . . Sub-Saharan Africa 5.3 4.9 5.5 5.3 -0.3 -0.2 . . . . . . . . .   Ã‚  Ã‚  Ã‚  South Africa 2.9 3.1 2.5 3.4 -1.1 -0.6 2.4 3.0 3.7 Memorandum European Union 2.0 1.6 -0.1 1.2 -1.5 -0.7 0.8 0.3 1.7 World Growth Based on Market Exchange Rates 4.1 2.8 2.5 3.2 -0.7 -0.4 . . . . . . . . . World Trade Volume (goods and services) 12.7 6.9 3.8 5.4 -2.0 -1.0 . . . . . . . . . Imports   Ã‚  Ã‚  Ã‚  Advanced Economies 11.5 4.8 2.0 3.9 -2.0 -0.8 . . . . . . . . .   Ã‚  Ã‚  Ã‚  Emerging and Developing Economies 15.0 11.3 7.1 7.7 -1.0 -1.0 . . . . . . . . . Exports   Ã‚  Ã‚  Ã‚  Advanced Economies 12.2 5.5 2.4 4.7 -2.8 -0.8 . . . . . . . . .   Ã‚  Ã‚  Ã‚  Emerging and Developing Economies 13.8 9.0 6.1 7.0 -1.7 -1.6 . . . . . . . . . Commodity Prices (U.S. dollars) Oil  6 27.9 31.9 -4.9 -3.6 -1.8 -3.1 . . . . . . . . . Nonfuel (average based on world commodity export weights) 26.3 17.7 -14.0 -1.7 -9.3 2.2 . . . . . . . . . Consumer Prices Advanced Economies 1.6 2.7 1.6 1.3 0.2 -0.1 2.9 1.2 1.3 Emerging and Developing Economies  3 6.1 7.2 6.2 5.5 0.3 0.4 6.5 5.6 4.8 London Interbank Offered Rate (percent)  7 On U.S. Dollar Deposits 0.5 0.5 0.9 0.9 0.4 0.3 . . . . . . . . . On Euro Deposits 0.8 1.4 1.1 1.2 -0.1 -0.4 . . . . . . . . . On Japanese Yen Deposits 0.4 0.4 0.5 0.2 0.2 0.0 . . . . . . . .   (Source www.imf.org/external/pubs/ft/weo/2012/update/01/

Moral Conflict in Antigone Essay -- World Literature Sophocles

The major moral conflict in Antigone by Sophocles is the conflict over which value is most fundamental. The play presents the moral conflict over whether the god's law or the city's law is more powerful. This seems to be the most prominent theme. The conflict arises mainly between the tragic heroes Antigone and her uncle-in-law Creon, King of Thebes. The city of Thebes had been through a war in which Antigone and her sister Ismene have lost both of their brothers to it, Eteocles and Polyneices. Eteocles's fighting for Thebes was buried and honored as a hero. (lines 24-26) Polyneices was left unburied and dishonored because he is considered an enemy of the city. (lines 27-32) Creon edicts that whoever broke the law by burying Polyneices will be considered a criminal. (lines 203-209) The conflict between Antigone and Creon arises when she decides she must honor her brother's death and gives him burial. (line 72) "I myself will bury him," she expressed to Ismene. Once Antigone has buried her brother, she is brought before King Creon to explain her actions. (p. 177) Sophocles presents the two sides of the conflict, moral law versus city law; Antigone expresses the side of moral law and Creon expresses his side with the laws of the city. Antigone begins by telling her sister Ismene it was her duty as a sister that she should bury her dead brother. It is a duty she owes to her family. She also expresses that the king will not "keep me from my own." In other words, duty to the family is above her duty to the city. Antigone also tells Ismene that she is willing to become a criminal and die for her beliefs. She believes her death will not be in vain, and it is honoring her family; and the gods, in turn, will recognize... ...Ismene confronts Creon and tells him she had a part in Polyneices burial. (line 537) She is willing now to join Antigone in her troubles and is not ashamed to admit it. (line 539) She is willing to join Antigone in death. In the case of Ismene, her character is able to resolve the conflict on her own. She realizes she is nothing without her family and Creon's laws have taken her family away. The conflict presented in Antigone involves all the characters and tragic heroes. Whether its internal conflict or conflict between two people, the theme is present throughout the entire play. Opposing views lead the main characters to take actions that eventually destroy all. Works Cited Sophocles. Antigone. Trans. Robert Fagles. Literature and the Writing Process. Elizabeth McMahan, Susan X. Day, and Robert Funk. 6th. ed. Upper Saddle River, NJ: Prentice, 2002.

Education in Pakistan Essay

Education in Pakistan is overseen by the government’s Ministry of Education and the provincial governments, whereas the federal government mostly assists in curriculum development, accreditation and in the financing of research. The article 25-A of Constitution of Pakistan obligates the state to provide free and compulsory quality education to children of the age group 5 to 16 years. â€Å"The State shall provide free and compulsory education to all children of the age of five to sixteen years in such a manner as may be determined by law†. [3] The education system in Pakistan is generally divided into five levels: primary (grades one through five); middle (grades six through eight); high(grades nine and ten, leading to the Secondary School Certificate or SSC); intermediate (grades eleven and twelve, leading to a Higher Secondary (School) Certificate or HSC); and university programs leading to undergraduate and graduate degrees. [4] The literacy rate ranges from 87% in Islamabad to 20% in the Kohlu District. [5] Between 2000—2004, Pakistanis in the age group 55–64 had a literacy rate of almost 30%, those aged between 45–54 had a literacy rate of nearly 40%, those between 25–34 had a literacy rate of 50%, and those aged 15–24 had a literacy rate of 60%. [6] Literacy rates vary regionally, particularly by sex. In tribal areas female literacy is 7. 5%. [7]Moreover, English is fast spreading in Pakistan, with 18 million Pakistanis[8] (11% of the population)[8] having a command over the English language, which makes it the 9th Largest English Speaking Nation[9] in the world and the 3rd largest in Asia. [8] On top of that, Pakistan produces about 445,000 university graduates and 10,000 computer science graduates per year. [10] Despite these statistics, Pakistan still has one of the highest illiteracy rates in the world. [11] Education Expenditure as Percentage of GDP Public expenditure on education lies on the fringes of 2 percent of GDP. However, the government recently approved the new national education policy, which stipulates that education expenditure will be increased to 7% of GDP,[22] an idea that was first suggested by the Punjab government. [23] Author of an article, which reviews the history of education spending in Pakistan since 1972, argues that this policy target raises a fundamental question: What extraordinary things are going to happen that would enable Pakistan to achieve within six years what it has been unable to lay a hand on in the past six decades? The policy document is blank on this question and does not discuss the assumptions that form the basis of this target. Calculations of the author show that during the past 37 years, the highest public expenditure on education was 2. 80 percent of GDP in 1987-88. Public expenditure on education as a percentage of GDP was actually reduced in 16 years and maintained in 5 years between 1972–73 and 2008-09. Thus, out of total 37 years since 1972, public expenditure on education as a percentage of GDP either decreased or remained stagnant for 21 years. The author argues if linear trend were maintained since 1972, Pakistan could have touched 4 percent of GDP well before 2015. However, it is unlikely to happen because the levels of spending have had remained significantly unpredictable and unsteady in the past. Given this disappointing trajectory, increasing public expenditure on education to 7 percent of GDP would be nothing less than a miracle but it is not going to be of godly nature. Instead, it is going to be the one of political nature because it has to be â€Å"invented† by those who are at the helm of affairs. The author suggests that little success can be made unless Pakistan adopts an â€Å"unconventional† approach to education. That is to say, education sector should be treated as a special sector by immunizing budgetary allocations for it from fiscal stresses and political and economic instabilities. Allocations for education should not be affected by squeezed fiscal space or surge in military expenditure or debts. At the same time, there is a need to debate others options about how Pakistan can â€Å"invent† the miracle of raising education expenditure to 7 percent of GDP by 2015. [24]

C F Braun Description of Ammonia Synthesis essays

C F Braun Description of Ammonia Synthesis essays There are several processes to produce ammonia synthesis gas. The C F Braun (now may be referenced as Kellogg) process is one of the most current and acceptable processes due to the fact that the natural gas feed is less expensive than hydrogen generated from coke and water. This process has several stages of reaction and catalytic conversion that make it more presentable to industry, which are discussed in further detail. For the present time, the steam/air reforming concepts based on natural gas and other light hydrocarbons are considered to be the dominating group for ammonia synthesis. The first stage of the process is a preliminary purification section, where impurities, primarily sulfur compounds, are removed from the gas stream. The desulfurization vessel contains a catalyst that hydrogenates organic sulfur to H2S, R-SH + H2 > H2 S + RH which is then absorbed. The purpose of removing the sulfur is to increase the life span of the instruments down stream that may be sensitive to this particular compound. The gas, along with steam, is then fed into the primary reformer. This is the only place within the process where an endothermic reaction takes place. The main steam reforming reactions are: The reforming is furnaced by fuel, and escapes from the top as the flue gas. This flue gas is further used to heat the convection section of the compressor system. Due to lower temperatures within the primary reactor, low conversion is accomplished. Therefore, the gas stream is sent to a secondary reformer where at higher exothermic temperatures a higher conversion is accomplished. Process air is introduced to help provide the elevated temperatures necessary along with the stoichiometric amounts of N2 needed in the synthetic gas stream. The gas stream exiting the reforming section contains too much carbon monoxide (CO), and is ...

Global Warming Essay

Global Warming Essay There is plenty of research on Global Warming issues, however, scholar’s over the world are far from unanimity on its root causes and ways of prevention. Global warming  is a climatic process, which is related to what seems to be ‘an insignificant increase of global temperature’. At glance the  difference  seems trivial indeed – Earth’s mean surface temperature has increased by some 0.8 since the early 20th century, however, this has triggered a chain reaction and contributed to glacier melting in the Arctic and the Antarctic Penninsula. This, in turn, is leading to the increase of the ocean heat content, which spurs a whole new series of climatic changes. Most of these changes are believed to be human-induced and are most typically contributed to deforestation and carbon dioxide emissions. There is plenty of research on Global Warming issues, however, scholar’s over the world are far from unanimity on its root causes and ways of prevention. Most scientists, with a 90% probability, tend to agree, that it is a process that is directly related to human activity. To substantiate their claim, they pull out the so-called ‘hockey stick’ graph, which was first introduced by Michael Mann in 1998 and is since widely used by world’s climatologists. GLOBAL WARMING IS A  MYTH The graph reads as follows: during the last nine centuries, global temperature has remained relatively unchanged (which is likened to the shaft of the stick), while during the last century (with the advent of the industrial revolution) the graph curve escalated dramatically (the part that resembles the blade). Such arguments look quite convincing if you compare temperature fluctuations during the nine-hundred-year span to those of the last century. The hockey stick graph has also spurred debate on the validity of the datasets and their interpretation and has lead to the so-called ‘hockey stick controversy’, in which some environmental scientists questioned data and methods used by Michael Mann. Mann’s model ended up being reviewed and analyzed by the National Academic of Sciences, who supported Mann’s initial hypothesis, saying that current temperature levels were unprecedented until at least 1000 years. In years that followed, this model was tested by other scholars who used more sophisticated data sets and statistical methods, and they too confirmed that Mann’s initial model was accurate. More sophisticated data sets and improved methods of research were able to extend the ‘hockey shaft’ as far as 11000 years back, only confirming the initial hypothesis – global warming is a result of human irresponsibility. This essay is a short stub on the extensive topic called ‘Global Warming’. If you need an article written on the topic, feel free to contact us for a custom written essay on any of the global warming issues. We would be happy to find a writer with a background in climatology/ecology who will come up with a top-notch quality product on any of the ‘global warming’ subtopics.

International business Essay Example | Topics and Well Written Essays - 2500 words

International business - Essay Example    Table of Contents    Sl. No. Title Page No. 1 1. Introduction   4 – 5 2 2. Entry Strategy   5 – 10    2.1 Rationale for choosing Indian Market       2.2 Entry Mode       2.3 Advantages of Chosen Strategy       2.3.1 Licensing Vs. FDI       2.3.2 Joint Venture Vs. FDI       2.3.3 Strategic Alliance Vs. FDI       2.4 Possible Risks of Adopting FDI    3 3. Conclusion   10 – 11    Works cited    1. Introduction Market entry is one of the most crucial strategic decisions that every business organization takes. Market entry can either be an entry into a new market within the country or entry into a foreign market. In both the cases, it is very important to have an effective planning regarding the market entry process because it determines the future of the company with regard to success in the new. This report will make a detailed look into the market entry strategy suitable for Reliance Retail, one of the largest retail com panies in India, to enter the UAE retail segment. Reliance Fresh is one of the largest retail companies in India. It is founded in the year 2006 and is headed by Mukesh Ambani, the wealthiest person in India. Reliance Fresh is part of Reliance Industries Limited which has interests in petroleum, power, chemicals, textiles, polyesters, telecommunications, polymers, natural gas and petrochemicals. Reliance Fresh had huge success ever since it was established in the year 2006. Reliance fresh currently has a network of more than 560 outlets spread over in India. (Reliance Industries Limited, 2011) Reliance Fresh was placed as a retail company focussed on selling fresh fruits and vegetables and thus named as Reliance Fresh. But recently the company had announced its plan to shift its focus from fruits and vegetables to emerge as a super market or multiband retail store. One reason for this decision is the political and social issues faced by the retailer in many parts of India regarding dearth of vegetables and fruits. Another reason is to rebrand itself as a multi-brand retail store. Therefore, the company is now gradually reducing its exposure of fruits and vegetables in their outlets. As part of the expansion plan, Reliance Fresh is planning to invest around Rs. 25000 crores in the coming years. Reliance retail now operates under several brands namely, Reliance Super, Reliance Footprint, Reliance Timeout, Reliance Jewels, Reliance Wellness, Reliance Mart, and Reliance Digital catering to the specialized needs of consumers. Apart from all these Reliance also operates the brand Reliance IStore which is a specialized store selling only the products of Apple Inc. Reliance Footprint is now one of the largest footwear retailers in the country. The store caters to all the income groups of the society. Reliance Jewels is its jewellery brand and has entered the jewellery market by setting up its stores in major cities of the country. Jewellery business is one of the most promising business segments in India. Similarly Reliance Timeout is now of the largest book store in India. (Reliance Industries Limited, 2010) As of now, Reliance is only confined to the Indian market. It is now time to take the brand to a global market. Expanding retail to a global market is not easier. The main reason is that the global organized retail sector is highly competitive than the Indian retail sector. This report is intended to make an analysis of the best strategy

Laser Triangulation for 3D Shape Estimation Essay

Laser Triangulation for 3D Shape Estimation - Essay Example Consequently, this case provides an in-depth critical and analytical overview of the processes followed in order to make the process a success. The areas to be accessed include the utilization of project planning and control methodologies, accounting structures, the efficiency of team building and application of formal management techniques in making the project productive. In the first phase of project planning, the team made use of Gantt chart to help in effective mapping out of the activities considered critical for the completion. In which case, the team considered Gantt chart useful in giving a chance for aligning important tasks, which could be carried out in parallel; and most of all aligning them sequentially. The tasks were aligned in order of their completion, with the first to be finished put as the first. In which case, the first task was Task analysis, meant to take one day, and the last was reporting, which was meant to go for almost half of the duration required to complete the project. Through the Gantt chart, the team was able to evaluate the trade off on the basis of scope, cost and timescales meant for the project. As the result, the team was able to manipulate the end date of each task and that of the overall project to suit the resource constraints. The group was efficient in controlling the resources used, through utilizing the three major aspects of a Gantt chart: predicted use of time, actual use of time, the deadline for submission. In this scenario, the team determined the activities which were deemed to be finished after the deadline; for instance, the team realized that they could not finish the final design in time to move on to the manufacturing state. Consequently, they had to apply proper management strategies to ensure that the slack time to be placed for the completion of the project did not interfere with the completion of subsequent activities.