Why do some pupils achieve more than others in mathematics Essay

Why do some pupils achieve more than others in mathematics - Essay Example An issue means something significant that needs to be finalised, an argument that is not settled. ‘Taking an issue’ means disagreement and ‘to issue onwards’ means to illustrate. Among the contemporary issues, Peter Bailey‘s statement is of value to everyone. He proposed that â€Å"teachers of mathematics can play a crucial role in making the world a fairer place† (Gates, 2001, p. 10). Different pupils think differently to a same mathematical problem. This creates trouble for teachers in devising the most appropriate method in the best interest of all. Some students do achieve more because of the individual differences in terms of abilities, motivation levels, preferences etc. (Orton, 2004, p. 136). Mostly mathematical calculations are thought to be convergent - having a limit however there are also divergent questions whose answers could be manifold. Hudson (1966) tested the convergent and divergent thinking ability of sixth form students in a research study of individual differences and concluded that students weak at the IQ tests were much better in subjective questions. Most of the students that perform better in mathematics are convergent thinkers, who likes logic, definite solutions etc. They are bound to have mathematics as their favourite subject while divergent thinkers have difficulties (Orton, 2004, p.139). â€Å"Mathemetical abilities are not innate but are properties acquired in life that are formed on the basis of certain inclinations†¦ some persons have inborn characteristics in the structure and functional features of their brains which were extremely favourable to the development of mathematical abilities†¦anyone can become an ordinary mathematician; one must be born an outstandingly talented one† (Orton, 2004, p.142). Generally Maths is considered a subject you cannot humanize. Russel (1938) proposed that most students have the common perception of considering

CMOS memory Essay Example for Free

CMOS memory Essay 1. Search the internet for information on â€Å"CMOS memory† and answer the following questions: How has CMOS memory changed over the years? Has the size of the CMOS memory increased, decreased, or stayed the same? CMOS memory was originally used in the early days to store semi-permanent data stored in chips. The speeds have increased and the noise has been reduced it also went from analog to digital. With technological advancement over the years, it now uses flash memory, which is a form of EEPROM instead of chips. The size of the CMOS memory changes on how it is set. It either can be added or reduced from the computer. However, these changes cause the computer to report a memory size mismatch. The size of the CMOS memory has also pretty much stayed the same because there is no need to increase the size. There was never any need to store more than 512 bytes in the memory as it holds the absolute basic boot settings for the system. The typical size is still 512 bytes currently. 2. Determine if the CMOS still utilizes RAM, requiring a battery on the motherboard, or has evolved into using EEPROM. There are still CMOS that use a battery on the mother board but EEPROM is more popular today. CMOS has since evolved from using a RAM to using EEPROM. Its a long name for a small chip that holds bits of data code that can be rewritten and erased by an electrical charge, one byte at a time. Its data cannot be selectively rewritten; the entire chip must be erased and rewritten to update its contents.

Effect of Green and Black Teas Essay Example for Free

Effect of Green and Black Teas Essay Determining the efficiency of various types of teas and its components, and the binding of tea with lipoproteins as for prevention of the occurrence of coronary heart diseases, is the primary objective of the study. Based on established scientific researches, one of the components of tea called phenols, are responsible for producing the antioxidant attributes of tea. Further studies prove that both black and green teas have almost the same phenol content. Thus, their antioxidant strength is also the same, as gauged through the use of the phenol antioxidant index (PAOXI). Moreover, the study establishes the idea that a combination of tea catechins and lipoproteins produce stronger antioxidant qualities. (Vinson Dabbagh, 1998a) To accomplish the objective of the study, teas that were used for samples were prepared using the same process. These samples were then compared to other types of antioxidants and other beverages with phenolic content. Moreover, the teas were studied in order to find out the threshold for the production of antioxidant properties, and also the binding of antioxidants with lipoproteins. Vinson Dabbagh, 1998a) The results of the study revealed that green tea produces higher antioxidant activity than the black tea, the green tea and black tea were stronger antioxidants than other beverage samples, the PAOXI of both green and black teas do not exhibit significant differences in terms of antioxidant strength, and the lipoprotein binding for both teas remain the same. Moreover, the catechins found in teas were more effective than vit amins C, E and beta-carotene in binding with lipoproteins to complete oxidation. Therefore, teas are more efficient in lowering the risks of coronary heart diseases. Green teas were found to bind efficiently with lipoproteins of high amounts, and on the contrary, black teas were said to bind efficiently with lipoproteins of low amounts. (Vinson Dabbagh, 1998a) Secondary Source The discovery of the connection between oxidation and atherogenesis has incited research studies about the effects of antioxidants found in teas to lipoproteins. Moreover, studies conducted on flavonoids, which is one of the components of tea, and its contributory effects to the prevention of the occurrence of coronary heart disease, has led researchers to speculate that catechins that are found in tea might be instrumental in promoting health and wellness due to the antioxidant attributes produced by teas. (Vinson Dabbagh, 1998b) This particular research study aims to identify the efficiency of teas as a source of antioxidants as compared to other beverages with the same phenolic content, and the maximum threshold of the production of antioxidant mechanisms in teas. Moreover, research was conducted on the effects of binding antioxidant with lipoproteins to an individual with low antioxidant intake. (Vinson Dabbagh, 1998b) The results of the research reveal that catechins that are found in teas are more effective antioxidants as compared to other vitamins that claim to be a good source of antioxidants, such as vitamins E, C and beta-carotene. Moreover, the research also discovered that teas bore the most amount of phenolic content as compared with other beverages that were tested, and that among the tea samples that were tested, green tea bore the most amounts of phenolic content. In addition, antioxidant binding with lipoproteins was most efficient with black teas as compared to other teas, although there was not any significant difference as to the effect when comparing it to the results of other teas. (Vinson Dabbagh, 1998b) In conclusion, the research study reaffirmed the fact that teas are a great source of antioxidant and that they are effective in producing high levels of antioxidants that are needed by the human body. Therefore, an individual’s regular intake of tea prevents the onset of lipoprotein oxidation within the body. (Vinson Dabbagh, 1998b) Personal Opinion about the Topic The results of the study has proved the effectiveness of teas as a source of antioxidant, therefore supporting previous studies conducted about the relationship between catechins and phenolic acid that are found in teas and its binding with lipoproteins as instrumental in the lowering of risks caused by coronary heart diseases. If this is the case, then regular intake of green and black teas should be recommended to people who are at risk for coronary heart disease and should be recommended as part of the average person’s diet in order to avoid the occurrence of the said disease. Although plants where tea comes from are widely grown all over the world, and according to the study, tea is the most popular drink in the world, people still do not realize the importance of its content and the regular intake of tea as a protective instrument against coronary heart disease. Moreover, people are not aware that the beverage that they enjoy the most has health benefits that might save them from suffering heart diseases. Promotion and recommendation of teas that are based on research study results and information dissemination might help in encouraging people to drink tea as part of their diet in order to stay fit and healthy. Aside from advertising and promotional activities, the government should support or fund the horticultural industry in order to produce more sources for green and black teas. Not only will the people benefit from this, but the government will also gain profit for the tea industry and agriculture. Moreover, the government should look into the processes of preparing teas. As the research study suggests, that the amount of phenols within the tea leaves, which are said to be the ones responsible for producing antioxidants, are dependent on the weather and climate, age of the tea leaves that will be used, and the horticultural processes that the leaves underwent. Therefore, the government should further look into the processes from which tea leaves are produced. Desirable and specialized horticultural processes should be employed in growing plants in order to ensure the quality of tea leaves that will be grown from it. In order to accomplish this aim, the government should be able to conduct research studies that would prove to be instrumental in the efficient and productive growth of plants. Moreover, with further studies and in depth research, the government should fund the inclusion of teas in the diet of patients in the public health care system, especially those who are suffering from coronary heart diseases, patients who are at risk, and even all the patients in order to keep strong and healthy. However, further studies should be done independently in order to avoid judgments of researches that are tainted by underlying motives such as advertising. In the research study conducted by Vinson Dabbagh, it was funded by the Lipton Tea Company. Since the Lipton Tea Company is a business organization, which produced tea all over the world, I cannot help but think of the politics between business and advertising that is concealed in the research. Most especially because the results of the research promoted the efficiency of green and black teas among other beverages and its importance as a prevention scheme against coronary heart diseases. In order to invalidate speculations that might arise from the influence of Lipton Tea Company and the research, independent studies should be conducted by professionals and scholars alike from different fields related to the issue such as representatives from the health care industry, agriculture, government, universities, and scientists alike.

The Fundamental Theory Of Supply And Demand Economics Essay

The Fundamental Theory Of Supply And Demand Economics Essay The theory of supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. The supply and demand model describes how prices vary as a result of a balance between product availability and consumer demand. Since contemporary economies rely on the market forces of supply and demand instead of government forces to distribute goods and services there must be a method for determining who gets the products that are produced. This is where supply and demand begin to work. By themselves the laws of supply and demand give us basic information, but when working together they are the key to distribution in a market economy. It is not enough for a buyer to want or desire an item. He or she must show the ability to pay and then the willingness to pay. So, demand is comprised of three things: Desire; Ability to pay; Willingness to pay. What factors alter a consumers desire, willingness and ability to pay for products? Some factors include consumers income and tastes, the prices and availability of related products like substitutes or complementary goods, and the items usefulness. Substitutes are goods that satisfy similar needs and which are normally consumed in place of each other. As the price of one substitute declines, demand for the other substitute will decrease. Butter and margarine are close substitutes. If the price of butter goes up, then people will tend to substitute margarine for butter. Complementary goods are those that are normally consumed together (e.g., DVD players and DVD movies). An increase in the price of a product will diminish demand for its complement while a decrease in the price of a product will increase demand for its complement. Think of the items usefulness this way. It is a hot summer day and you are gasping for a drink*. You come across a lemonade stand and gulp down a glass*. It tasted great so you want another. This second glass is marginal utility meaning an extra satisfaction a consumer gets by purchasing one more unit of a product. But now you reach for a third glass. Suddenly your stomach is bloated and you are feeling sick. Thats diminishing marginal utility! The law of diminishing marginal utility says that the more units one buys the less eager one is to buy more. In economics, demand is peoples desire, willingness and ability to purchase particular amounts of goods or services at certain prices in a given period of time. To the economists consumers make rational choices about how much to buy and how to spend their income on the products that will give them the greatest satisfaction at the least cost. So, demand describes the behavior of buyers. The law of demand states that the higher the price of a product, the fewer people will demand that product, that is, demand for a product varies inversely with its price, all other factors remaining equal*. Factors other than a goods price which affect the amount consumers are willing to buy are called the non-price determinants of demand. The law of demand expresses the relationship between prices and the quantity of goods and services that would be purchased at each and every price. In other words, the higher the price of a product, the lower the quantity demanded. Economists like to look at things graphically. A demand schedule is a table showing the number of units of a product that would be purchased at various prices during a given period of time. The information presented in a graphic form is called a demand curve. It shows an inverse relationship between the price and the quantity demanded. The demand curve represents the quantities of a product or service which consumers are willing and able to buy at various prices, all non-price factors being equal. The demand curve slopes downward from left to right based on the law of demand. Or to put it another way, a demand curve shows that the quantity demanded is greater at a lower price and lower at a higher price. The advantage of the curve is that it enables economists to see the relation between price and quantity demanded and to calculate approximately what the demand would be for those prices falling in between the prices that are in the demand schedule. Each point along the curve represents a different price-quantity combination. Demand schedule for cut jeans Price The quantity demanded $400 200 $350 500 $300 800 $225 1200 $175 1600 $100 2400 $50 3000 Increased demand can be represented on the graph as the curve being shifted to the right, because at each price, a greater quantity is demanded. An example of this would be more people suddenly wanting more cut jeans. On the other hand, if the demand decreases, the opposite happens. Decreased demand can be represented on the graph as the curve being shifted to the left, because at each price the quantity demanded is less. It means that fewer people want to buy cut jeans. The key point is to distinguish between demand and the quantity demanded. Demand refers to how much of a product or service is desired by buyers. The quantity demanded is the amount of a product that people are willing to buy at a certain price. The difference is subtle but important. If the demand of ice cream goes up in summer it is because consumptive demand has truly increased, clearly it is hot. In this case the business can most likely raise prices without suffering a cut in sales. This is a change in the quantity demanded. In winter the business incurs a sales fall at the same price. The only way out of increasing sales is to reduce the price. As a result of a price cut the increased sales of ice cream means that consumer demand has artificially been manipulated. In reality, actual demand is low but extra efforts have to be made to increase sales. This leads to a change in demand. Economists distinguish two different ways that the quantity of purchases of a product can change. According to the law of demand a change in price leads to a movement along the original demand curve and results in a change in the quantity demanded, that is, more will be purchased but only at a lower price. When one of the non-price factors changes (e.g., a change in income) there will be a change in demand. This change causes a shift of the demand curve either outward or inward in response to a change in a condition other than the goods price. It means that more or less will be purchased at the same price. All of the non-price determinants (changes in the size of the market, income for the average consumer, population size, the prices and availability of related goods, consumer preferences) are directly related to consumers. In other words, at any given price, consumers will be willing and able to purchase either more or less. Lets take a look at an effect a change in consumer preferences or desire for a particular product leads to. On the one hand, if a product like cut jeans becomes the latest fashion fad, demand at any given price will be increased and the demand curve shifts out. On the other hand, if there is a decline in the size of the market or a product becomes unfashionable then the demand curve shifts in. Thus, the only thing that can change the quantity demanded is a change in the market price, all other things remaining the same. While a change in demand results from changes of any of the non-price determinants, the goods price being equal. To understand better the theory of supply and demand it is necessary to know how much buyers and sellers respond to price changes. This responsiveness is called elasticity. Elasticity varies among products because some products may be more essential to the consumer. A good or service is considered to be highly elastic if a slight change in price leads to a sharp change in the quantity demanded. A price increase of a product or service that isnt considered a necessity will discourage more consumers to buy the product or service. On the other hand, an inelastic good or service is one in which changes in price bring about only modest changes in the quantity demanded, if any at all. Products that are necessities are more insensitive to price changes because consumers will continue buying these products despite a price rise. It is known as the price elasticity of demand. In economics, the price elasticity of demand is an elasticity that measures the nature and degree of the relationship between changes in the quantity demanded of a commodity and changes in its price. One typical application of the concept of elasticity is to consider what happens to consumer demand for a product when prices increase. As the price of a product rises, consumers will usually demand less of that product, perhaps by consuming less, substituting another product for it, and so on. The greater the extent to which demand falls as price rises, the greater the price elasticity of demand is. Demand is called elastic if a small change in price has a relatively large effect on the quantity demanded. The number and quality of substitutes for a product are the basic influence on price elasticity of demand. If the prices of substitutes remain the same, a rise in the products price will discourage consumers from buying this product. On the other hand, if there is a price cut in the product, consumers will substitute other items for this product. Thus, the demand for this product tends to be elastic. In general, demand is elastic for non-essential commodities (visits to theatres or concerts, holidays, parties, etc.) However, there are some goods that consumers cannot consume less of, and cannot find substitutes for even if prices rise. Some goods and services that are necessities, relatively inexpensive and difficult to find substitutes are said to have inelastic demand. To put it another way, a change in price results in a relatively small effect on the quantity demanded. The elasticity of demand also deals with the effect of a price change on the sellers total revenue, that is the amount paid by the buyers and received by the sellers of products. When the price elasticity of demand for a product is elastic, the percentage change in quantity is greater than the percentage change in price. Hence*, when the price is raised, the total revenue of producers falls, and the total revenue of producers rises, when the price is decreased. When the price elasticity of demand for a product is inelastic, the percentage change in quantity is smaller than the percentage change in price. Therefore, when the price is raised, the total revenue of producers rises and the total revenue of producers decreases, when there is a goods price fall. COMMENTS: to gasp for a drink à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ¼Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒâ€˜-à Ã‚ ´ Ñ Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒ Ã‚ ³Ãƒ Ã‚ ¸; to gulp down a glass à Ã‚ ¶Ãƒ Ã‚ °Ãƒ Ã‚ ´Ãƒâ€˜-à Ã‚ ±Ãƒ Ã‚ ½Ãƒ Ã‚ ¾/à Ã‚ ºÃƒ Ã‚ ²Ãƒ Ã‚ °Ãƒ Ã‚ ¿Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒ Ã‚ ¾ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ½Ãƒ Ã‚ °Ãƒ Ã‚ ¿Ãƒâ€˜-à Ã‚ ¹; all other factors remaining equal à Ã‚ ·Ãƒ Ã‚ ° уà Ã‚ ¼Ãƒ Ã‚ ¾Ãƒ Ã‚ ², ц°Ãƒ Ã‚ ¾ уÑ Ãƒâ€˜- Ñ-à Ã‚ ½Ãƒâ€˜Ã‹â€ Ãƒâ€˜- Ñ„Ã Ã‚ °Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ °Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚  à Ã‚ ½Ãƒ Ã‚ µÃƒ Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¼Ãƒ Ã‚ ¸; hence à Ã‚ ¾Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¶Ãƒ Ã‚ µ, à Ã‚ ·Ãƒ Ã‚ ²Ãƒâ€˜-à Ã‚ ´Ãƒâ€˜Ã‚ Ãƒ Ã‚ ¸, à Ã‚ ² Ñâ‚ ¬Ãƒ Ã‚ µÃƒ Ã‚ ·Ãƒâ€˜Ã†â€™Ãƒ Ã‚ »Ãƒâ€˜Ã…’Ñ‚Ã Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜-. Exercise 1. Read, translate into Ukrainian in writing and memorize the following economic terms and concepts. Complementary goods: the two goods tend to be consumed or used together in relatively fixed or standardized proportions. ____________________________________________________________________________________________________________________________________________________________________________ Demand curve: the graphical representation of how demand for something varies in relation to its price. _________________________________________________________________________________________________________________________________ Demand schedule: a table showing the quantities of a product that would be purchased at various prices at a given time. ____________________________________________________________________________________________________________________________________________________________________________ Demand: the level of a consumers willingness, ability and desire or need that exist for particular goods or services. _________________________________________________________________________________________________________________________________ Diminishing marginal utility: each successive increase in consumption of a product or service provides less additional enjoyment or usefulness than the previous one. _______________________________________________________________________________________________________________________________________________________________________________________________________________________ Elastic demand: Demand for which a small change in price results in a large change in demand. _________________________________________________________________________________________________________________________________ Elasticity: An economic concept which is concerned with a shift in either demand for or supply of an economic product as the result of a change in a products price. _______________________________________________________________________________________________________________________________________________________________________________________________________________________ Inelastic demand: Demand for which a large change in price leads to only a small change in demand. ________________________________________________________________________________________________________________________________ Law of demand: the economic law that states that demand for a product varies inversely with its price. _________________________________________________________________________________________________________________________________ Law of diminishing marginal utility: the economic law that states that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed. __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Marginal utility: the additional satisfaction a consumer gains from consuming one more unit of a good or service. ____________________________________________________________________________________________________________________________________________________________________________ Price elasticity of demand: The degree to which demand for a commodity responds to a change in the price of this commodity. ____________________________________________________________________________________________________________________________________________________________________________ Substitute: a product or service that partly satisfies the need of a consumer that another product or service fulfills. _________________________________________________________________________________________________________________________________ Utility: an economic term referring to the total satisfaction received from consuming a good or service. _________________________________________________________________________________________________________________________________ TEXT Transactions require both buyers and sellers. Thus, demand is only one aspect of decisions about prices and the amounts of goods traded, supply is the other. So, supply is one of the two key determinants of price. The theory of supply explains the mechanisms by which prices and levels of production are set. Unlike demand, supply describes the behavior of sellers. In economics, supply relates to the quantity of goods or services that a producer or a supplier is willing to bring into the market (à Ã‚ ¿Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ² à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ¶) at a particular price in a given time period, all other things being equal. The law of supply states that the quantity of a commodity supplied (Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚ ) varies directly with its price, all other factors that may determine supply remaining the same. The law of supply expresses the relationship between prices and the quantity of goods and services that sellers would offer for sale (à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ¶) at each and every price. In other words, the higher the price of a product, the higher the quantity supplied. As the price of a commodity increases relative to price of all other goods, business enterprises switch resources and production from other goods to production of this commodity, increasing the quantity supplied. Clearly the law of supply is the opposite of the law of demand. Consumers want to pay as little as they can. They will buy more when there is a price decrease in the market. Sellers, on the other hand, want to charge as much as they can. They will be willing to make more and sell more as the price goes up. In this way they can maximize profits. (à Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒ Ã‚ ¾ à Ã‚ ·Ãƒ Ã‚ ±Ãƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’шуà Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ±Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ºÃƒ Ã‚ ¸) The relationship between price of a product and its quantity supplied is represented in a table called a supply schedule. The supply curve is a graphic representation of the market supply schedule and the law of supply. The supply curve shows a direct relationship (à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã‚ Ãƒ Ã‚ ¼Ãƒ Ã‚ ¾ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-à Ã‚ ¹Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ µÃƒ Ã‚ ¶Ãƒ Ã‚ ½Ãƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’) between the quantities of products that firms are willing to produce and sell at various prices, all non-price factors (à Ã‚ ½Ãƒ Ã‚ µÃƒâ€˜Ã¢â‚¬  Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜- Ñ„Ã Ã‚ °Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸) being constant. The supply curve slopes upward from left to right based on the law of supply. Producers supply more at a higher price because selling a larger quantity at a higher price increases their revenue. Supply schedule for cut jeans Price The quantity supplied $400 3000 $350 2400 $300 1600 $225 1200 $175 800 $100 500 $50 200 The supply curve enables producers to anticipate (à Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ¼Ãƒ Ã‚ ¾Ãƒ Ã‚ ¶Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ±Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ºÃƒ Ã‚ °Ãƒ Ã‚ ¼ à Ã‚ ¿Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ µÃƒ Ã‚ ´Ãƒ Ã‚ ±Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸) what the supply would be for those prices falling in between the prices that are in the supply schedule. Each point along the curve represents a different price-quantity combination, or to put it another way, a direct correlation between the quantities supplied and price. Like a movement along the demand curve, a movement along the supply curve will occur when a price change leads to a change in the quantity supplied (à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ²Ãƒ Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒ Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-), that is, more will be offered for sale but only at a higher price or vice versa. Like a shift in the demand curve, a shift in the supply curve to the right or to the left means that the quantity supplied is affected by a factor other than a products price. (Ñ„Ã Ã‚ °Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬ Ñ-à Ã‚ ½Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ½Ãƒâ€˜-à Ã‚ ¶ ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ° Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™) People often confuse supply with the quantity supplied. The difference between supply and quantity supplied is that Supply represents the amounts of items that suppliers are willing and able to offer for sale at different prices at a particular time and place, all non-price determinants being equal. The quantity supplied refers to the amount of a certain product producers are willing to supply at a certain price (à Ã‚ ·Ãƒ Ã‚ ° à Ã‚ ¿Ãƒ Ã‚ µÃƒ Ã‚ ²Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜Ã… ½ ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜Ã… ½). A change in the price of the product will cause a change in the quantity supplied. Price is an important determinant of the quantities supplied. The law of supply states that the amount offered for sale rises, as the price is higher. The quantity of pairs of cut jeans producers are willing to offer for sale rises, since their price is higher primarily because they need to cover the increased costs of production. (à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ºÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ·Ãƒ Ã‚ ±Ãƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’шà Ã‚ µÃƒ Ã‚ ½Ãƒâ€˜- à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ±Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒâ€˜- à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸) Thus, according to the law of supply a change in price leads to a movement along the original supply curve and results in a change in the quantity supplied. On the one hand, an upward movement along the curve (Ñâ‚ ¬Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬ ¦ уà Ã‚ ·Ãƒ Ã‚ ´Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ ¶ à Ã‚ ºÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒ Ã‚ ¾Ãƒâ€˜- Ñ Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã‚ Ãƒ Ã‚ ¼Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ уà Ã‚ ³Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™) represents an increase in the quantity supplied as the price is raised. On the other hand, a downward movement along the curve shows a decrease in the quantity supplied as a result of a price reduction. When one of the factors other than a products price changes (e.g., a change in technology) there will be a change in supply. Economists use the term supply to refer to the original supply curve. An increase in supply is reflected by a shift of the supply curve to the right. It means that at the same price, sellers are willing to supply more than they were willing to supply before (à Ã‚ ²Ãƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ±Ãƒâ€˜Ã†â€™Ãƒ Ã‚ »Ãƒ Ã‚ ¸ à Ã‚ ³Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜- à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ Ñâ‚ ¬Ãƒ Ã‚ °Ãƒ Ã‚ ½Ãƒâ€˜-шà Ã‚ µ). A decrease in supply is represented by a shift of the original supply curve to the left. It means that at any given price, producers are willing to supply less than they were willing to supply before. However, there are things other than price which affect the amounts of goods and services suppliers are able to bring into the market. These things are called the non-price determinants of supply. As it has been mentioned a change in the quantity supplied caused only by a change in the price of the product. A change in supply is caused by a change in the non-price determinants of supply. Based on a new supply schedule (à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¦Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸ à Ã‚ · à Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ ¾Ãƒâ€˜- шà Ã‚ ºÃƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-), the supply curve moves inward or outward since the prices stay the same and only the quantities supplied change. Non-price determinants of supply are: Changes in the cost of production. Production costs relate to the labour costs and other costs of doing business (à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ µÃƒ Ã‚ ºÃƒâ€˜Ã‚ Ãƒ Ã‚ ¿Ãƒ Ã‚ »Ãƒâ€˜Ã†â€™Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ- à Ã‚ ¿Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ Ãƒ Ã‚ ¼Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ²Ãƒ Ã‚ °) used in production process. The cost of production is probably one of the most important influences on production process. An increase in the costs of any input brings about the lower output, which means that the supply curve will shift inward. Regardless of the price that a firm can charge for its product, price must exceed costs (à Ã‚ ¿Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ µÃƒ Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ °Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸) to make a profit. Thus, the supply decision (Ñâ‚ ¬Ãƒâ€˜-шà Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  ц°Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ ¾ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-) is a decision in response to changes in the cost of production. Changes in technology. Changes in technology usually result in improved productivity. Improved technology decreases production costs and therefore increases supply. Changes in the price of resources needed to produce goods and services. If the price of a resource used to produce the product increases, this will increase the production costs and the producer will no longer be willing to offer the same quantity at the same price. He will want to charge a higher price to cover the higher costs. As a result the supply curve will shift inward. Changes in the expectations of future prices. Changes in producers expectations about the future price can cause a change in the current supply (Ñ-Ñ Ãƒ Ã‚ ½Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ ) of products. If producers anticipate a price rise in the future, they may prefer to store their products today and sell them later. As a result, the current supply of a particular product will decrease. In this case a supply curve will shift to the left. It is necessary to keep in mind that supply is not the quantity available for sale. (à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ° ц à Ã‚ ² à Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒ Ã‚ ²Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜- à Ã‚ ´Ãƒ Ã‚ »Ãƒâ€˜Ã‚  à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ¶Ãƒâ€˜Ã†â€™) Changes in the profit opportunities. If a business firm produces more than one product, a change in the price of one product can change the supply of another product. For example, automobile manufacturers can produce both small and large cars. If the price of small cars rises, the producers will produce more small cars to earn higher profits. They will shift the resources of the plant from the production of large cars to the production of small ones. Therefore, the supply of small cars will increase and a supply curve will shift outward. So, profit opportunities encourage producers to produce those goods that have high prices. Changes in the number of suppliers in the market. Potential producers are producers who can produce a product but dont do it because of relatively low price. If price of a product rises potential suppliers will switch over production to that product to make more profit. If more producers enter a market, the supply will increase, shifting the supply curve to the right. Making a summary it is necessary to emphasize that the understanding of concepts of supply and demand provides an explanation of how prices are determined in competitive markets. (à Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒ Ã‚ ºÃƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ Ñâ‚ ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ º) An important concept in understanding supply and demand theories is elasticity. Comprehension of elasticity (Ñâ‚ ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  à Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜-) is useful to understand the response of supply to changes in consumer demand in order to achieve an expected result or avoid unforeseen consequences (уà Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ºÃƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ½Ãƒ Ã‚ µÃƒ Ã‚ ¿Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ µÃƒ Ã‚ ´Ãƒ Ã‚ ±Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¦ à Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒ Ã‚ »Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ºÃƒâ€˜-à Ã‚ ²). For example, an entrepreneur expecting a price increase might find that* it lowers the profits if demand is highly elastic, as sales would fall sharply. Similarly, a business reckoning on a price cut might find that* it does not increase sales, if demand for the product is inelastic. In economics, the price elasticity of supply is the degree of proportionality with which the amount of a commodity offered for sale changes in response to a given change in the going price. In other words elasticity of supply is a measure of how much the quantity supplied of a particular product responds to a change in the price of that product. Elasticity of supply works similar to elasticity of demand. If a change in price results in a large change in the quantity supplied, supply is considered elastic. On the other hand, if a great change in price brings about a small change in the quantity supplied, supply is called inelastic. Here are the determinants of price elasticity of supply: the ability of producers to change the amount of goods they produce time period needed to alter the output. Elasticity of supply is different in the short run and the long run. The quantity of a product supplied in the short run differs from the amount produced, as manufacturers have stocks of finished products (à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ ¿Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒ Ã‚ ¸ à Ã‚ ³Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ ¾Ãƒâ€˜- à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ- ) as well as raw materials which they have to build up or reduce. In the long run quantity supplied and quantity produced are equal but it takes time to adjust supply to current demand and going prices. For example, supply of many goods can be increased over time by allocating alternative resources, investing in an expansion of production capacity, or developing competitive products that can substitute for hot items. Hence, supply is more elastic in the long run than in the short run. COMMENTS A different price-quantity combination Ñ-à Ã‚ ½Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ ° à Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ¼Ãƒ Ã‚ ±Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ  ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ Ñ‚Ã Ã‚ ° à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜-; an entrepreneur expecting a price increase might find that à Ã‚ ¿Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ Ãƒ Ã‚ ¼Ãƒ Ã‚ µÃƒâ€˜Ã¢â‚¬  Ãƒâ€˜Ã…’, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¹ Ñ Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒâ€˜-à Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚  à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ °Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸, à Ã‚ ¼Ãƒâ€˜-à Ã‚ ³ à Ã‚ ±Ãƒ Ã‚ ¸ à Ã‚ ·Ãƒâ€˜Ã‚ Ãƒâ€˜Ã‚ Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸, ц°Ãƒ Ã‚ ¾; a business reckoning on a price cut might find that à Ã‚ ¿Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ Ãƒ Ã‚ ¼Ãƒ Ã‚ µÃƒâ€˜Ã¢â‚¬  Ãƒâ€˜Ã…’, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¹ Ñâ‚ ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¦Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬  à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¶Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸, à Ã‚ ¼Ãƒâ€˜-à Ã‚ ³ à Ã‚ ±Ãƒ Ã‚ ¸ à Ã‚ ·Ãƒâ€˜Ã‚ Ãƒâ€˜Ã‚ Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸, ц°Ãƒ Ã‚ ¾. Exercise 1. Read, translate into Ukrainian in written form and memorize the definitions of the following economic terms and concepts. Elastic supply: Supply for which a percentage change in a products price causes a larger percentage change in the quantity supplied. à Ã¢â‚¬ ¢Ãƒ Ã‚ »Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ : à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ  à Ã‚ ·Ãƒ Ã‚ ° Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒâ€˜- à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬  Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ² ц Ãƒâ€˜-à Ã‚ ½Ãƒâ€˜- Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ²Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ´Ãƒ Ã‚ ¾ à Ã‚ ±Ãƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’шà Ã‚ ¾Ãƒâ€˜- à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒ Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒ Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-. Elasticity of supply: The degree to which supply of a commodity responds to a change in that commoditys price. à Ã¢â‚¬ ¢Ãƒ Ã‚ »Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-: à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ »Ãƒ Ã‚ ¾Ãƒ Ã‚ ¶Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  à Ã‚ ·Ãƒ Ã‚ ° Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¼ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ  Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™ Ñâ‚ ¬Ãƒ Ã‚ µÃƒ Ã‚ °Ãƒ Ã‚ ³Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬  à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒâ€˜Ã†â€™ ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™. Inelastic supply: Supply for which a percentage change in a products price causes a smaller percentage change in the quantity supplied. à Ã‚ Ãƒ Ã‚ µÃƒ Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ : à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ  à Ã‚ ·Ãƒ Ã‚ ° Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒâ€˜- à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬  Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ° ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ²Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ´Ãƒ Ã‚ ¾ à Ã‚ ¼Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ ¾Ãƒâ€˜- à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒ Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒ Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã†â€™. Law of supply: the economic law that states as the price of a commodity that producers are willing and able to offer for sale during a particular period of time rises (falls), the quantity of the commodity supplied goes up (decreases), all non-price determinates being equal. à -à Ã‚ °Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ½ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-: à Ã‚ µÃƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ¼Ãƒâ€˜-ц¡Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒ Ã‚ ½, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¹ Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ²Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ´Ãƒ Ã‚ ¶Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬ , ц°Ãƒ Ã‚ ¾ Ñ Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬ °Ãƒ Ã‚ ¾ ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ° Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™, Ñ Ãƒ Ã‚ ºÃƒâ€˜Ã†â€™ à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ±Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ºÃƒ Ã‚ ¸ à Ã‚ ³Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜- Ñ‚Ã Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒâ€˜- à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ´Ãƒ Ã‚ »Ãƒâ€˜Ã‚  à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ¶Ãƒâ€˜Ã†â€™ à Ã‚ ·Ãƒ Ã‚ ° à Ã‚ ²Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ¿Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒâ€˜-à Ã‚ ¾Ãƒ Ã‚ ´ ц¡Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã†â€™, à Ã‚ ·Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬  (Ñ Ãƒ Ã‚ ¿Ãƒ Ã‚ °Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ), à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ³Ãƒ Ã‚ ¾ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™ à Ã‚ ·Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬  (Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬ ¡Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚ ), à Ã‚ ²Ãƒâ€˜Ã‚ Ãƒâ€˜- à Ã‚ ½Ãƒ Ã‚ µÃƒâ€˜Ã¢â‚¬  Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜- à Ã‚ ²Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ºÃƒ Ã‚ ¸ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ °Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜   à Ã‚ ½Ãƒ Ã‚ µÃƒ Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¼Ãƒ Ã‚ ¸. Quantity supplied: the amount of a product that producers are willing and able to sell at a certain price during a time period, all other factors that may determine supply remaining the same. à Ã¢â‚¬â„¢Ãƒ Ã‚ µÃƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-: à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜-à Ã‚ ², Ñ Ãƒ Ã‚ ºÃƒâ€˜- à Ã‚ ²Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ±Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ºÃƒ Ã‚ ¸ à Ã‚ ³Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒâ€˜- Ñ‚Ã Ã‚ ° à Ã‚ ·Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ½Ãƒâ€˜- à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ·Ãƒ Ã‚ ° à Ã‚ ²Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜- ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ ¶ à Ã‚ ¿Ãƒ Ã‚ µÃƒ Ã‚ ²Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ³Ãƒ Ã‚ ¾ à Ã‚ ¿Ãƒ Ã‚ µÃƒâ€˜Ã¢â€š ¬Ãƒâ€˜-à Ã‚ ¾Ãƒ Ã‚ ´Ãƒâ€˜Ã†â€™ ц¡Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã†â€™, à Ã‚ ²Ãƒâ€˜Ã‚ Ãƒâ€˜- Ñ -à Ã‚ ½Ãƒâ€˜Ã‹â€ Ãƒâ€˜- Ñ„Ã Ã‚ °Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¾Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸, Ñ Ãƒ Ã‚ ºÃƒâ€˜- à Ã‚ ¼Ãƒ Ã‚ ¾Ãƒ Ã‚ ¶Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ à Ã‚ ²Ãƒ Ã‚ ¸Ãƒ Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬Å¡Ãƒ Ã‚ ¸ à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-ÑÅ ½ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã‹â€ Ãƒ Ã‚ °Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚  à Ã‚ ½Ãƒ Ã‚ µÃƒ Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¼Ãƒ Ã‚ ¸. Supply: the total amount of a commodity available for purchase by consumers. à Ã… ¸Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ : Ñ Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ºÃƒâ€˜Ã†â€™Ãƒ Ã‚ ¿Ãƒ Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜-à Ã‚ ² à Ã‚ ´Ãƒ Ã‚ ¾Ãƒâ€˜Ã‚ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ¿Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬ ¦ à Ã‚ ´Ãƒ Ã‚ »Ãƒâ€˜Ã‚  à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ´Ãƒ Ã‚ ±Ãƒ Ã‚ °Ãƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  Ñ Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ¶Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ Ã‚ °Ãƒ Ã‚ ¼Ãƒ Ã‚ ¸. Supply curve: the graphical representation of how supply varies as prices change. à Ã… ¡Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¸Ãƒ Ã‚ ²Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-: à Ã‚ ³Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒâ€˜Ã¢â‚¬Å¾Ãƒâ€˜-ц¡Ãƒ Ã‚ ½Ãƒ Ã‚ µ à Ã‚ ²Ãƒâ€˜-à Ã‚ ´Ãƒ Ã‚ ¾Ãƒ Ã‚ ±Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ °Ãƒ Ã‚ ¶Ãƒ Ã‚ µÃƒ Ã‚ ½Ãƒ Ã‚ ½Ãƒâ€˜Ã‚  Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ³Ãƒ Ã‚ ¾, Ñ Ãƒ Ã‚ º à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ  à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚  Ñ Ãƒ Ã‚ ºÃƒâ€˜Ã¢â‚¬ °Ãƒ Ã‚ ¾ à Ã‚ ·Ãƒ Ã‚ ¼Ãƒâ€˜-à Ã‚ ½Ãƒâ€˜Ã… ½Ãƒâ€˜Ã… ½Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’Ñ Ãƒâ€˜Ã‚  ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸. Supply schedule: a table showing the quantities of a product that would be offered for sale at various prices at a given time. à Ã‚ ¨Ãƒ Ã‚ ºÃƒ Ã‚ °Ãƒ Ã‚ »Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ·Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜-Ñ-: Ñ‚Ã Ã‚ °Ãƒ Ã‚ ±Ãƒ Ã‚ »Ãƒ Ã‚ ¸Ãƒâ€˜Ã¢â‚¬  Ãƒâ€˜Ã‚ , ц°Ãƒ Ã‚ ¾ à Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ºÃƒ Ã‚ °Ãƒ Ã‚ ·Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬  à Ã‚ ºÃƒâ€˜-à Ã‚ »Ãƒâ€˜Ã…’à Ã‚ ºÃƒâ€˜-Ñ Ãƒâ€˜Ã¢â‚¬Å¡Ãƒâ€˜Ã…’ Ñ‚Ã Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒâ€˜Ã¢â€š ¬Ãƒâ€˜Ã†â€™, Ñ Ãƒ Ã‚ ºÃƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ±Ãƒâ€˜Ã†â€™Ãƒ Ã‚ ´Ãƒ Ã‚ µ à Ã‚ ·Ãƒ Ã‚ °Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ¿Ãƒ Ã‚ ¾Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ °Ãƒ Ã‚ ½Ãƒ Ã‚ ¸Ãƒ Ã‚ ¹ à Ã‚ ½Ãƒ Ã‚ ° à Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ °Ãƒ Ã‚ ¶ à Ã‚ ·Ãƒ Ã‚ ° Ñâ‚ ¬Ãƒâ€˜-à Ã‚ ·Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒâ€˜- ц Ãƒâ€˜-à Ã‚ ½Ãƒ Ã‚ ¸ à Ã‚ ²Ãƒ Ã‚ ¿Ãƒâ€˜Ã¢â€š ¬Ãƒ Ã‚ ¾Ãƒ Ã‚ ´Ãƒ Ã‚ ¾Ãƒ Ã‚ ²Ãƒ Ã‚ ¶ à Ã‚ ¿Ãƒ Ã‚ µÃƒ Ã‚ ²Ãƒ Ã‚ ½Ãƒ Ã‚ ¾Ãƒ Ã‚ ³Ãƒ Ã‚ ¾ ц¡Ãƒ Ã‚ °Ãƒâ€˜Ã‚ Ãƒâ€˜Ã†â€™.

A Theory of Justice Presented by John Rawls Essay -- inequalities, f

In A Theory of Justice John Rawls presents his argument for justice and inequality. Rawls theorizes that in the original position, a hypothetical state where people reason without bias, they would agree to live in a society based on two principles of justice (Rawls 1971, 4). These two principles of justice are named the first and second principles. The first is the equal rights and liberties principle. The second is a combination of the difference principle and the fair equality of opportunity principle, or FEOP (Rawls 1971, 53). Rawls argues that inequality will always be inevitable in any society (Rawls 1971, 7). For example, there will always be a varied distribution of social and economic advantages. Some people will be wealthier than others and some will hold places of greater importance in society. Rawls’s argument is that to ensure the stability of society the two principles of justice are needed to govern the assignment of rights and regulate the inequality (Rawls 1971 , 53). Any infringement of an individuals rights or inequality outside the parameters of the principles of justice are unjust. In order to understand Rawls, one has to understand the theoretical concept of the original position. It lays the groundwork for Rawls’s argument by providing a foundation for society. Calling it a state where people reason without bias is a very general definition that does not at all fully explain all of the different aspects of the original position. The original position, according to Rawls, has to do with a social contract (Rawls 1971, 11). People agree to rules in society that are pursuant to their own general well being. However, they decide on these rules behind what Rawls calls a veil of ignorance. Behind this veil of ignor... ... his principles of justice to evaluate such an inequality. If rights were not being infringed then he would immediately move on to the second principle criteria. In this scenario, if the workers were getting the greatest benefit then the inequality presented would be justified. For example, if the corporation were putting the increased profits into safer equipment for its workers, or providing insurance, compensation, etc. then it could be said that the inequality is justified. However, if the corporation were keeping it’s profits then the workers are least advantaged, but not getting the greatest benefit, so the inequality would be unjust in Rawls eyes. Allowing the inequality to continue would lead to instability in society and it would violate Rawls’s principles. â€Æ' Works Cited Rawls, John. A Theory of Justice. Cambridge, MA: Belknap of Harvard UP, 1971. Print.

Emersons Theories of Education vs Modern-day Theories Essay -- Compar

Emerson and today’s theories of education view discipline as necessary for the progress of students in the classroom; however, Emerson’s beliefs differ from modern-day theories of discipline in "respecting a child" encompassing "patience", "the receiving mind" and "discovers for himself his goal in life." Emerson realized that progressive learning is not a dictator relationship. "Respecting a child" will enhance the student’s ability to achieve their goals. As today’s society lives in the fast lane so does our educational society. "So to regard a young child, the young man, requires, no doubt, rare patience: a patience that nothing but faith in the remedial forces of the soul can give" (Gilman 444). Patience is this unattainable trait that people seek, but never find. Our society is a whirling downfall of enormous debt because of the lack of patience that so many people have adopted as a way of life. Stores are full of consumers that "must have" at that very moment. Unfortunately, the same philosophy of thought is embedded in today’s education. Evaluating today’s theories of education, patience is a luxury that can not be spared. The new "No child left behind" legislation theorizes the idea that standardized testing will improve the instruction level of students. In actualization, the government is teaching the students and the teachers are their puppets. The government likes to call this education reform, however in many eyes it is education death. "The 100 percent goal was simply a target, an admittedly unreachable goal designed to motivate schools to stretch themselves to do better, such as scientists trying to cure cancer or gardeners hoping to grow the perfect tomato" (Matthews 1). Beginning with the first day of school... ... How does society "respect a child" when education is consumed with close-mindedness, repetition, dictatorship and sinful nature. References: Bracey, Gerald W. Are US Students Behind? Web 20 Nov 2014. Http: www.prospect.org/print/V9/37/bracey-g.html Dorja, Rig’dzin. Dangerous Friend: The teacher –student relationship in Vajnayana Buddhism. Web 20 Nov 2014. http://www. Samadhicushions.com/Samadhi.cgi/S-1998 Gilman, William H. Selected Writings of Ralph Waldo Emerson. A Signet Classic. New York, New York 10014 Matthews, Jay. No Child Left Behind Act: Facts and Fiction. Web 20 Nov 2014. http://www.washingtonpost.com /ac2/wp-dyn/A23818- 2003Nov10?language=printer. Swanson, Robert. Web 20 Nov 2014. http://www.sudval.org/users/archives/dsm4 Years of Schooling Smother Creativity. Web 20 Nov 2014. jordan.dpsnc.net/fcmqr1998/schooling.html

Darwin Vs. Pearson :: Natural Selection Essays

The writing of Charles Darwin focuses on the concept of natural selection and its implications on the human race. Darwin understands that allowing weaker people to pass on their genetic shortcomings will ultimately prove to be detrimental. People should have the same reproductive rights and opportunities as all other people. The writing of Karl Pearson also focuses on natural selection and its implications upon the human race. Pearson, however, believes that the weaker people of society should be forced to die off so as not to pass on their genetic malfeasance. Darwin and Pearson agree on the process of natural selection but disagree on how society should utilize the knowledge gained from understanding natural selection. Darwin & Pearson both believe that left unchecked the human race would evolve positively by not allowing unfit people to reproduce. Darwin says, â€Å"With savages, the weak in body or mind are soon eliminated; and those that survive commonly exhibit a vigorous state of health.† Darwin believes that people, without the constraints of society, would allow the weaker elements of their offspring to die off without reproducing. Since people operate in a civilized society, they must tolerate the people who are weaker than they are, even if it is a detriment to society at large, â€Å"We must therefore bear the undoubtedly bad effects of the weak surviving and propagating their kind.† Karl Pearson believes that the knowledge gained from understanding natural selection should be utilized to stop the human race from declining, â€Å"I want you to see selection as something which renders the inexorable law of heredity a source of progress, which produces the good through suffering, an infinitely greater good which far outbalances the very obvious pain and evil.† Pearson believes that even though it will be hard to do, society must stop allowing inferior people to reproduce.