Pay It Forward A Positive or Negative Impact on Society...

Making a difference in the world is not strenuous; it is the choices conceived that dictate either a positive or negative impact upon society. Most people do not wish to negatively impact others, but unfortunately events such as this occur nonetheless. When involving myself with my UNI classmates, we came to the conclusion that we must surpass all struggles and attempt to assist those who cannot assist themselves. Various ideas were tossed back and forth until we came to one cessation: every single idea was a prodigious idea. Our group had no choice other than to complete multiple acts of kindness towards human beings in our surrounding areas. The first act of kindness that my group permitted involved paying for a stranger’s meal in a†¦show more content†¦One sticky note read, â€Å"Always do right. This will gratify some people and astonish the rest† (â€Å"Clemens/Twain†). I peered out of the window while I was on my ten-minute break and spotted a you ng woman smiling at her sticky note; unfortunately, I cannot remember the exact words written, but it warms my heart to know that I was the reason behind her toothy grin. There were a few other smaller, selfless activities I decided to perform due to a lengthy list I read online. One of the tasks entailed listening to someone’s pain and making an attempt to help them find a path through it. I had this conversation with a fellow coworker whose mother had passed almost a year ago; the pain is still tender and she is trying to deal with it to the best of her abilities. Another act I wanted to pull off included donating all of my old clothes to someone in need. It is certainly true that someone’s old is another person’s definition of new (â€Å"Chernoff†). Gandhi said it best when he uttered the words, â€Å"Be the change you want to see in the world†. By participating in random acts of kindness, you are inspiring others in the process to do the same. The possibilities are endless and if we all come together, we can turn the world around ultimately. You may believe that you are one person in this world compacted with a billion other people; however, to one person, at one singleShow MoreRelatedNegative Effects Of The Industrial Revolution710 Words   |  3 Pagesadvancements that would change the way of living for everyone. As with all significant events in history, there were positive and negative impacts that the Industrial Revolution had on the world. Despite all the technological advancements that were made during this time that brought economic prosperity to all, the Industrial Revolution has negative impacts that shaped our society to be less humane and more greedy. 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Building A New Community Within The City - 1207 Words

Written Report By: Eva Qiao Charles was founded in 2014 and owned by Maggie Hu Eva Joe. Our corporate philosophy is to do our best to make our customers satisfied and help build more meaningful relationships, our environment activities can be traced back to the January 2014, when we launched the environmental activities of the Preparatory Committee in order to confirm the current situation. In April of the same year, we began the green activities of the Commission, and activities on the environment. Now, we will strive to Toronto on undeveloped land to build a new community within the city. And my community will provide their long-term demand for the center which including: ï  ¬ Good air and water quality, health food and†¦show more content†¦After we discuss, we think energy conservation and the use of renewable cost-effective and more sustainable alternatives, that s why we want to contain resources to make energy use more efficient. We all know that natural ecosystems and human health by reducing the adverse effects of air quality and climate change. Our community can ensure the protection of air quality by limiting or eliminating harmful chemicals and then discharged into the air by minimizing air pollution sources. We want to make sure that contains resources and approaches that air quality and climate change. My copartner reminds me that biodiversity is particular important for creating sustainable community since each species plays in maintaining ecological balance. Our communities can promote healthy wildlife by supporting a comprehensive approach to managing the protection and strengthening of regional wildlife populations. While pro viding soil, water and energy. Forests are also a wide range of renewable energy products and services. Finally, it is clearly more environmentally sustainable methods and more inclusive than the current policy in the presence of the community. We do believe it is vital to education development community. The residential areas will be located all over the community. We have town house, house, apartment and condo especially apartment and condo was located in the centre of our community.

MITHRIDATE Persuasive Essay Example For Students

MITHRIDATE Persuasive Essay A monologue from the play by Jean Racine NOTE: This monologue is reprinted from The Dramatic Works of Jean Racine. Trans. Robert Bruce Boswell. London: George Bell and Sons, 1911. XIPHARES: I love her, and may own my passionNow that that brother is my only rival.Doubtless you wonder at the words I speak,But tis no secret of a few short days,Long has this love of mine grown up in silence.How I could make you realize its ardour,My earliest sighs, my latest disappointment!But in the state to which we are reducedTis no fit time to task my memoryWith the recital of an amorous tale.Let it suffice, to justify myself,That it was I who first beheld the Queen,And loved her. Ere the name of MonimaHad reachd my fathers ears, her charms had rousedA lawful passion in my heart. He saw her,And courted her, but with unworthy suit,Deeming that she would prove an easy conquest,Without presuming to claim marriage honours.You know how warmly he assaild her virtue,And, weary of a long and fruitless struggle,Absent, but never parted from his passion,He by your hands sent her his diadem.Judge of my grief, when tidings came that toldToo truly of the purpose of the King,How Monima his destined bride had takenHer journey hither under your protection!Twas then, ah! odious time, my mothers eyesWere opend to the offers of the Romans.Whether in jealous rage at these new nuptials,Or to procure me Pompeys powrful favour,My father she betrayd, and gave to RomeThe town and treasures to her care entrusted.How did my mothers crime affect my feelings?No more I saw a rival in my father,I thought not of the love his own had crossd,And had no eyes but for my fathers wrongs.Soon I attackd the Romans; and my mother,Distracted, saw me wounded to the deathRecovering the place she had surrenderd,And with my dying breath cursing her name.Since then the Euxine has been free, and soRemains; from Pontus to the BosphorusAll ownd my fathers sway; his fleet victoriousFound winds and waves its only enemies.More I would fain have done; I thought, Arbates,To march upon Euphrates to his rescue,When I was stunnd by tidings of his death.But mingled with my tears, I will confess it,Back to my tho ughts came charming Monima,Entrusted by my father to your hands.In these sad times I trembled for her life,Dreading that in his cruel jealousyThe King, as oft before with many a mistress,Might means have taken to secure her death.Hither I flew, and neath Nymph?ums wallsMy anxious eyes encounterd Pharnaces,A sight, I trow, of evil augury.You received both of us, and know the rest.Hasty in all his actions, PharnacesOf his presumptuous wishes made no secret,Related to the Queen my fathers ruin,And, since the King was dead, offerd himselfTo fill his place; nor will his deeds fall shortOf words. I too will show what I can do.The love that bade me reverence a sireTo whom from childhood I have ownd submission,This very love, now rising in revolt,Scorns the authority of this new rival.Either the suit I venture to advanceMust be by Monima herself rejected,Or else, whatever ill may come of it,She shall not be anothers, while I live.Thus have I told the secrets of my heart;With you it rests to choose the side you take.Which of us seems the worthier of allegiance,The slave of Rome, or Mithridates son?

Italian Neorealism in Film Essay Example

Italian Neorealism in Film Essay Let me begin with a quote by Bernardo Bertolucci:, â€Å"Realism doesn’t mean showing real things, but showing how things really are. It was this definition by Brecht that critically challenged Neo-Realism. Not Rossilini though. Rossilini is the only one in Neo-Realism who didn’t just show us things, didn’t just try to be a realist, but gave us an idea of things. He wasn’t interested in the appearance of things, but in the idea behind the things. Even the idea behind the idea.† Italian Neorealism was known as a â€Å"new realism† at that time. It was a film movement that showed the changing styles and attitudes of the film industry after the World War 2. Italian Neorealism greatly influenced the fictional films that were made in Italy itself and other countries too. The manner was very realistic, and these films showed a huge contrast with the films that were shot in the World War 2. There are various styles which can be related to Italian Neorealism. They are as follows: Unprofessional actors, using real locations, dubbing Italian language, a real comparison with the events that occurred recently with the World War 2. We will write a custom essay sample on Italian Neorealism in Film specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Italian Neorealism in Film specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Italian Neorealism in Film specifically for you FOR ONLY $16.38 $13.9/page Hire Writer All Of this began in the 1920s; Benito Mussolini founded the Fascist Party. The fascists used film as a tool of propaganda, and this made the Italian Film industry very controllable, and it was censored. Benito Mussolini founded Cinecitta, which is a film studio. The intention of opening this was to promote Italy and the fascist ideals through the medium of cinema. The Germana, after capturing Italy, looted Cinecitta, and all the film production systems were moved to Venice. The Allied forces bombed Cinecitta. The Roman filmmakers were denied from the money and the access to any facilities. This period was the beginning fo the Italian Neorealism. The films that were resulted because of this are Rome, Open City. The Cinema is a magazine which had a particular film critics who were not allowed to write about the

The Coca-Cola Company Essay Example Essay Example

The Coca-Cola Company Essay Example Paper The Coca-Cola Company Essay Introduction The Coca-Cola Company has its headquarters in Atlanta, Georgia and was invented in 1886. Its overall heads include the CEO, chairman and executive vice president (Coca-Cola Company, 2014). Since early 20th century, Coca- Cola Company has climbed the success ladder to compete with economic giants in the global market. The key strongholds that have contributed to the success of Coca-Cola Company over the years include proper marketing, innovation and globalization. Marketing application is through advertising techniques in TV commercials and participation of leaders in marketing. This tatter is how chief executives moved through villages and slums to make sure their product was in every spot of the world (Wise, 1999). TO their innovative part, Coca-Cola has had to take a deliberate move from offering a single core product to a variety of beverages to cater to the diverse tastes and preferences in people. Their globalization aspect stems on establishing lasting us applier and customer p artnerships that enabled them to further supply their products to numerous markets in the entire world. Coca-Cola has had to face competitors in their line of products such as PepsiCo Inc and DRP Pepper Snapped Group, formerly known as, Catbird Choppers Americas Beverages. The companies have used the same success tools that Coca-Cola has kept in place to be more competitive and have a market share of the beverages industry (Zamia, N. 2009). According to PepsiCo Inc (2014), their innovativeness has created a total of 22 brands to satisfy different tastes and preferences of its consumers. This has made PepsiCo Inc reach more consumers. The Coca-Cola Company Essay Body Paragraphs A similar move has been made by DRP Pepper Snapped Group who has created multiple brands to more than 50, which have different flavors ND have been used by different customers in the entire world (DRP Pepper Snapped Group, 2014). Globalization has set in motion for PepsiCo Inc and DRP Pepper Snapped Group, branding by PepsiCo to entire schools, Pepsi- The Official Soft Drink of Cayuga secondary’ school. Through such a move, PepsiCo has penetrated many markets to sell their products by establishing themselves as a global beverage business. However, DRP Pepper Snapped Group haven’t been left behind, and their effort on globalization is highly obvious. DRP Pepper Snapped Group has embraced its first step to globalization hat included buying back its distribution rights in the Asian-Pacific region for its non carbonated beverage drinks including Snapped, a move that automatically exposed them to World’s fastest growing market (Joseph and Oval, 2009). While focusing o n marketing, PepsiCo Inc has branded several schools in different nations, a key strategy in their tools of marketing. DRP Pepper Snapped has decided to tap the largest growing market in the entire world. PepsiCo Inc and DRP Pepper Snapped Group innovativeness cannot be underestimated. PepsiCo Inc has the ability to reach more than 200 nationalities and territories with their brands. They have been able to make their highest sales from global markets (PepsiCo Inc, 2014). Relating to DRP Pepper Snapped Group, their beverages have become renowned due to the various brands they offer. The individual brands of the DRP Pepper Snapped Group have gained favor from many cultures which have adored the brands of Versos, Royal Crown Cola and Squirt. As these tools of innovativeness may lead to large sales volume and popularity, DRP Pepper and Pepsi, people might say their old-fashioned, a simulation of Coca-Cola in these markets, more consumers will shy away from their products (DRP Pepper Sna pped Group 014). Globalization being fully addressed by DRP Pepper Snapped Group and PepsiCo Inc may lead to their respective success in the beverage industry. PepsiCo Inc has tactfully touched the hearts of many parents, students, teachers and workers involved in the branded schools. They have distributed their products in these schools while offering financial help. For the DRP Pepper Snapped Group, they now have access to the highest populations in the world which will translate to high sales after they successfully obtained their Asia-Pacific distribution rights back. The expansion of DRP Pepper Snapped Group to markets of Malaysia, Australia, China, Singapore and more; will bring enormous revenue growth and expansion. The negative side on these companies’ globalization is the period of establishing themselves in that market and the competition from the likes of Coca-Cola. Marketing by PepsiCo and DRP Pepper Snapped may lead to new customers and increase in sales. They ma y drain their funds reserve and make many losses in the short term, an aspect that may translate to incompetence in business dealings. The code of conduct of these companies remains very competitive in the global arrest, with consumers and other parties involved anticipating on what is the next move by these companies. Coca-Cola can come up with valuable techniques that set them apart, one that will ensure their code of conduct remains relevant no matter the anticipated changes in forces existing in society and business. A technique as supporting worthy causes of a humanitarian aspect will put them on the leader board. Instead of concentrating too much On sales and business, they can support a portion Of their profits, ideas that do not breach upon a confidentiality agreement. Donating and us porting hunger infested communities which lack water to drink by providing them with their mineral water can go a long way. By spending more time on manufacturing beverages that have low cab or herbal nutrients may make a difference in their code of conduct. With the high acceleration rates of lifestyle diseases such as cancer, the company should be geared to inventions that will add long term value to its consumers and create a better name for the company than having an addictive beverage. Environmental pollution issues and dumping of wastes have resulted from a rarity of businesses. Coca-Cola has had a debatable issue with its bottling and packaging since it started its production. The bottles, cans and packages have caused dumping in many areas, but measures have been put to avoid the pollution (Coca-Cola Company, 2014). First, the materials currently used can be recycled and reused, reducing the amount of dumping which reduces pollution in the long run. This method has stood out as the most effective; 85% of all their packaging materials is recyclable and effective. Dumping has also been reduced by this method (Coca-Cola Company, 2014). The Company s open to packaging ideas that will bring solutions that will ensure little or no effects to the environment. These innovations are welcome, and that they deliver measurable, genuine and long run advancements are highly rewarded. The effectiveness of this process can be seen in the current global packaging mix which uses seven different materials, an invention that was highly appreciated and is currently being used worldwide (Coca-Cola Company (2014). In order for Coca-Cola Company to be up to date with current and prospective developments in their technological area, it has embraced techniques that will ensure it keeps with innovations. The first approach involves partnerships that drive the company’s innovation agenda. It includes the likes of CONCRETE kiosks and social music app by Blacklists that is powered by Spottily. Collaboration helped improve services of supplying water to communities with their joint support with partners and DECK R (Coca-Cola Company, 2014). The other initiative pac kaging has been customized with a link to social media and mobile technology. This enabled sharing content all over the world, and an elaboration of this was the Singapore shareable can and Coca-Cola bottle that had been entirely made f Ice in Colombia. The packaging approach has brought proper delivery of beverages in a quality and happy manner, an aspect embraced by many consumers (Coca-Cola Company, 2014). The Coca-Cola Company has some technological challenges in the process of business dealings, which if not checked will paralyze the operations. These may include: cyber theft, piracy of products and fake distributors who are out to tarnish the name of the business. This employment of highly qualified programmers, skilled software engineers and trained web hosting personnel will come in handy in managing ties, software systems, blobs, and other online protocol the company owns. Licensing of distributors who have a clean profile will cut down on piracy levels and fake distributor s. Mass education and awareness campaigns to its customers should also be launched to educate the people of the company’s portfolio, standards and the identification of genuine distributors through proper certification. The company has also established a lobbying strategy to be used in ensuring that local and national government decisions are made in their favor. The approach used in the past and present include using vast mounts of funds in lobbying which is engaging in lobbying as a business, that try to reduce the amount of taxation applied on beverages. The total number of lobbyists was 38 and had seven different companies lobbying for Coca-Cola Company. The lobbying was highly appropriate in reducing the amount of taxation on its beverages to increase its sales through reduced prices. Coca Cola Company has put immense efforts in the area of global corporate citizenship. We will write a custom essay sample on The Coca-Cola Company Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Coca-Cola Company Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Coca-Cola Company Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

A Law Dictionary Containing Definitions of the Terms and Phrases essay

A Law Dictionary Containing Definitions of the Terms and Phrases essay A Law Dictionary Containing Definitions of the Terms and Phrases essay A Law Dictionary Containing Definitions of the Terms and Phrases essayMarine insurance provides ship owners with a wide range of benefits. According to Xia Chen (2001), â€Å"the availability of marine insurance helps spread the risks of maritime misadventure faced by ship owners†(p. 17). The term â€Å"marine insurance† stands for the form of insurance that covers ship owners and ship personnel, in terms of covering not only different types of losses or damages to ships, cargo, vessels, etc., but also defining ship owners’ liabilities regarding their activities. According to the Marine Insurance Act of 1906, the contract of marine insurance is defined as â€Å"the contract whereby the insurer undertakes to indemnify the assured, in a manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure† (Dunt, 2013, p. 9). An insurance company is obliged to pay claims, which may arise from losses or damage s covered by the terms of the insurance contract or policy (Dunt, 2013; Merkin, 2013.). The Marine Insurance Act of 1906 is considered to be one of the major legal documents that are in marine insurance practice.  The case that will be discussed in this paper involves the Ship Owner (or the Assured) whose duty is to take the appropriate steps in the legal procedure, claiming under the marine insurance policy. A vessel is badly damaged by fire (an insured peril) and the Ship Owner (the Assured) estimates that the cost of repairs will exceed the value of the vessel upon completion of the repairs. In this case, marine insurance policy can help to provide protection to the Assured against liability for negligent loss or damage. During the accident, the property has not been salved because it has been reported that the vessel needs basic repair. If a vessel is badly damaged by fire, or grounding, or collision, â€Å"no one would suggest that the ship has to be fully repaired to be â⠂¬Å"salved†( Rose, 2013). As a rule, if a vessel is badly damaged, including her cargo, the cost of repair often exceeds the value of the vessel, or market value. In this case, the damage to the vessel can be treated as total loss, and the insurers will have to pay out accordingly, covering all expenses.An insured peril stands for a proximate cause of a loss. According to S. Chatterjee (2004), â€Å"this principle states that the cause of a loss, in order to be compensated, must be the one against which one is actually insured† (p. 155). Fire is one of the proximate causes of a loss, which must be covered by the marine insurance policy, but the loss may be irrecoverable. According to Francis Rose (2013), an insured peril â€Å"does not per se determine, whether there has been a loss for which the assured is entitled to recover, and if so which type of loss†(p. 445). Therefore, it is very important to identify the type of a recoverable loss. According to the Marin e Insurance Act of 1906, in the case discussed in this paper, the classification of the loss can be defined as a total loss as the vessel is badly damaged by fire and the cost of repairs will exceed the value of the vessel upon completion of the repairs. Francis Rose (2013) states that â€Å"losses can be truly total in the physical sense, for matter does not cease to exist and it is increasingly possible to reconstitute it, even in cases of apparent destruction†( p. 446). In some cases, total loss is unavoidable because of the severe circumstances (Merkin, 2013). Taking into consideration the above mentioned facts, it is possible to conclude that in the case discussed in this paper the loss appeares to be a total loss.The overview of the options opened to the Ship Owner (the Assured) in the case under study In the case under study, the Ship Owner is the Assured. According to marine insurance policy, if the Assured experiences a loss, he is obliged to file a claim for compens ation (Merkin, 2013).   As a rule, the Assured has a number of rights, based on the terms of the marine insurance policy. Under the Marine Insurance Act of 1906, section 78 (4), the Assured should â€Å"take such measures as may be reasonable for the purpose of averting or minimizing the loss†(Dunt, 2013, p. 309).   Thus, there are several options open to the Assured in the case discussed in this paper.To start with, one of the options open to the Assured is claiming for a total loss. The Assured faces two possibilities concerning the state of the vessel.   If there is a possibility for restoration of the vessel, it is a constructive total loss. However, if there is no possibility for restoration, the Assured is entitled to claim for an actual total loss. In the case under study, the Assured has an opportunity to make repairs of the damaged vessel. According to the existing Marine Insurance Laws, a constructive loss can be defined as the loss â€Å"where the vessel rem ains in specie, and is susceptible of repairs or recovery, but at an expense, according to the rule of the English common law, exceeding its value when restored, or, according to the terms of the policy, where injury is equivalent to the 50% of the agreed value in the policy† (Black, 1910, p. 1162). The Ship Owner of the damaged vessel enjoys the rights of the Assured; therefore, he is entitled to seek to make claim in full in the Insuring Company’s liquidation for a total loss from fire of the insured property. This fact means that his claim is legal and is made under the Marine Insurance Act of 1906, provided the loss by fire is one of the numerous risks covered by the marine insurance policy.It is very important that the Marine Insurance Policy may govern various types of risks faced by a ship, cargo, etc., including fire, theft, bad weather conditions, equipment failures, and other risks. Actually, the Marine Insurance Policy covers fire as one of the major risks or perils mentioned in the marine insurance policy against which the underwriters are entitled to indemnify the Assured. The Ship Owner, as the Assured, should keep in mind that in case the vessel is destroyed or damaged by fire, â€Å"it is of no consequence whether this is occasioned by a common accident, or by lightning, or by an act done in duty to the State† as mentioned by the Court in the case Gordon vs. Rimmington (1807) 1 Camp 123 (Hodges, 2013, p. 66). Under the Marine Insurance Act of 1906, section 55 (2) (a), fire is considered to be one of the perils insured. Thus, in the case under study, the loss caused by fire will be a recoverable loss. The Assured is entitled to claim for a total loss because there is a clause in the marine insurance policy that the Ship Owner must be protected from any types of risks covered, including fire.Moreover, under the Marine Insurance Act of 1906, section 1, a marine insurance policy or contract can be defined as â€Å"a contract wh ereby the Insurer undertakes to indemnify the Assured against various types of marine losses† (Merkin, 2013, p.56). It becomes clear that the Ship Owner holds an interest in coverage. He should realize that opening a marine insurance policy is a necessity for successful business operations. Marine insurance coverage refers to various types of losses, including the losses caused by collision, stranding, heavy weather conditions, fire, theft, etc. Anyway, the Ship Owner should be focused on the knowledge of the marine insurance policy terms. There are several options of coverage included in the marine insurance policy. Coverage with particular average provides the Assured with an opportunity to get a broader form of marine insurance coverage, which is aimed at protecting the Assured from various partial types of damage by sea perils. For example, if the vessel has stranded, or the vessel sunk, or the vessel has been on fire or the vessel was damaged in collision, the percentage requirement will be waived and losses from sea perils will be recoverable in full (Hinkelman, 2010). Coverage free from particular average ensures protection for various partial losses, which result from the various types of sea perils and total losses, but only â€Å"if the vessel has stranded, sunk, burnt, been on fire or been in collision† (Hinkelman, 2010, p. 306). In this case, the Assured will never get full insurance coverage. The Assured should realize that the more types of risks are covered in the marine insurance policy, the higher the percentage interest in getting premium compensation. As a matter of fact, the Assured should be aware of the fact that the type of coverage, titled as â€Å"All Risk† coverage, guarantees the greatest and the most advantageous marine insurance coverage. The Ship Owner is entitled to make a decision whether to repair his vessel or not to repair the vessel as the losses are sustained. As a rule, the Assured is indemnified for th e reasonable depreciation that often arises in case of any unrepaired damage.Additionally, if the Assured experiences a constructive total loss, he is entitled to treat the loss as partial loss. In this case, another option is open to the Ship Owner. He may leave his vessel to the Insurer, treating the loss as an actual total loss and claiming the proper compensation under the marine insurance policy.The procedure followed in claiming under the marine insurance policyThe procedure which should be followed in claiming under the marine insurance policy gives explanation of both the Ship Owner’s position and that of his underwriters. The appropriate information should be collected regarding the contracting parties, the terms of the policy, the proximate cause of loss, etc. The Ship Owner may claim for a loss by fire, but his claim may be disallowed (Hodges, 2013).There are several steps in the procedure for claiming compensation under the marine insurance policy. First, the Assu red must notice to the Insurer, or Insuring Company. Second, the Assured must report to the police department if the damage has been caused by fire. Third, the Assured must submit the claim. As a rule, this procedure is done in writing within 35 days of the loss. Fourth, the Assured must provide the appropriate evidence for the claim. This procedure requires submission of the documents that can be used as evidence for the claim, including the origin of the loss, the major causes of fire, etc. The truth of his claim must be certified by the declaration on oath. Fifth, the Assured must settle the claim. The Ship Owner’s claim must be reviewed by the underwriters and settled provided the circumstances of the loss are covered by the marine insurance policy terms. The proper compensation must be paid for the losses. If the underwriters refuse to settle the claim, their decision must be appealed to the court. Sixth, the Assured in entitled to get the compensation for the loss cause d by fire (Merkin, 2013; Hodges, 2013).ConclusionMarine insurance coverage is crucial for the Ship Owner as it provides protection of individual interests in different situations, guarantees financial support in the case of loss. The case discussed in this paper is a good example of the benefits of having a marine insurance policy. The Ship Owner experiences a loss. He must claim the insurance policy to cover all ship repair expenses. The Assured has an option to claim for a total loss because the ship is badly damaged by fire and the Ship Owner estimates that the cost of repairs will exceed the value of his vessel when the repairs have been completed.

BASICS OF COMPUTER AND PROGRAMS Essay Example | Topics and Well Written Essays - 1250 words

BASICS OF COMPUTER AND PROGRAMS - Essay Example This means that, without software, a computer cannot be able to carry out any command hence useless. Different categories of software are installed in computers to enable them do tasks as given by the user. This softwares work hand in hand with each other for the computer to carry out its given tasks effectively, below are the two common softwares. Application software is a computer program that is widely known and used for commercial purposes whereby it carries out all regular and specific assignments that a user wants it to do, like calculations, data processing, word processing, communication, games, database management, spreadsheets and other related tasks. Application software is the main reason why the user buys a computer, whereby, it makes the work easier and faster than it could be done manually. The application system is widely used in business, medical and educational fields across the world as it has made the work and assignments in these fields easier. The softwares are known and seen by the end user, and through this, the user create shortcuts that enable him or her to access easily the documents in the machine (Stair, Reynolds and Reynolds, 2008). System software is the main computer software that directs the essential purposes of a computer and it is usually preinstalled within the machine; they are not seen by the user. It allows communication between the hardware and other categories of software; it includes utilities which safeguards and upholds the computer and its operating system. Utilities include software like anti- viruses, disk defragmenters and firewalls, their main purpose is to protect and maintain the computer system from breakdowns. Computer driver devices also fall under system software; in other words, system software gives support to the physical elements of a computer and synchronizes all the external devices like keyboards, printers, displays among others (Nithyashri, 2010). System softwares enables the machine to function ef fectively and accessibly; it protects the machine from any internal and external damages that may cause breakdown. It also ensures that there are servers and workstations that make the tasks easier; on the other hand, application software are tools available in the computer that enable the user‘s work cheaper. Both system and application softwares are beneficial to me as a business end user because through them, I know that my computer will function the moment I turn it on (system software) and that I will complete my calculations and balance my budget easily and faster (application software). Application software will enable me create shortcuts on my machine so that I can access the documents faster and effectively; likewise, the system software will protect my machine from breakdowns in that I will not lose any information or distort my information. Therefore, they will enable me to deliver high quality and quantity services to my clients in time. Types of software packages There are several types of software packages but the eight most popular ones are, word processor; this is a package that enables people to use a computer and to carry out their tasks. These programs enable the user to check out and correct spellings, make some characters italic, bold and underline show the difference and importance of the characters from the rest of the document, standardize the document to the required page layout, save the document for later use or

Parphrase final report ( protuos programme ) Essay

Parphrase final report ( protuos programme ) - Essay Example In these Lab findings, the evaluation as well as processing of the signals is done through various techniques that can be expressed on a seven segment display. Therefore, for the process to be meaningful, it needs to employ different reliable stages of amplifications, as well as conversion. In order to attain these intensifications there are various number of means that one can use, some can be very simple while others can be perplexing (Van der Spuy, 2012). The findings will give a primary basis in the comprehension of various circuits as well as some major Analogue components. In addition, it will ensure there is the proper understanding of Proteus that is the computer simulation equipment. The principal intention of the research is to carry out the sampling process of a motor speed. The strategy of an amp is to be produced. The range of the current sample will have the following range. That is; from -2.5 to 2.5 m Amplifier. The initial step was to change the signal from that particular current to signal voltages that range from 2 – 3 Volts. The following step requires the filtration of the signal by employing a low pass filter and avoiding any signal that operates over 100 Hz. After the completion of this particular phase, there will be diversification of focus to the digital side of the circuit. There will also be the employment of an analogue converter that is the A 8 bit to change the current voltage signal into an eight-bit digital signal. There will also be processing of eight bit signal to give a two-bit indication in bit hex decimal on the two seven section showing devices that indicate the moving speed of that particular motor in 0-255 scales. In this particular section of the findings, the process indication as well as the workings calculations are all carried out together. The complete scheme has been subdivided into different

Assignment 8 Essay Example | Topics and Well Written Essays - 500 words - 1

Assignment 8 - Essay Example supervised in terms quality assurance and maintenance of functions as well as improving the competencies of the persons being supervised no matter how proficient they may be. Additionally, supervision brings together the efforts of the person supervising and whoever is being supervised in order to obtain the set objectives of the supervision as they can share ideas on how best to improve on the goals of their task at hand. The monitoring and supervision of the efforts to improve the atmosphere in which we learn in therefore help us to understand on what areas that we should improve on in order to instill effective supervision practices in our daily lives. This brings us to the question of what is expected of us in conducting effective supervision in the running of our affairs (Bachkirova, Jackson and Clutterbuck, 2011).   In order to be an effective supervisor, the person tasked with supervising must master his role and adopt a front-line mode of carrying out the task handed out to one. This shows that effective supervision begins with the supervisor who must be aware that effective supervision involves proper and regular planning as well as a review of the progress of the supervision. The supervisor must know whoever is being supervised and motivate them in order to have the best outcomes at the end of the supervision which can best be known by being aware of what drives the supervisees in the tasks allocated. As a strategy, the supervisor will be required to properly educate and train the supervisees through clear definition of the expectations, the missions and the vision of the tasks and the goals of the definition. The supervisor must also build a teamwork mentality in the supervision environment in that every person must be involved in the general supervision work for maximum benefits that will be enjoyed over a longer period of time. The teamwork also helps in the building of excellent relationship between the supervisor and the supervisee which helps both

Physical Demands In Handball Physical Education Essay

Physical Demands In Handball Physical Education Essay Indian physical education has covered a long distance from ancient to modern period, during this period it has faced so many problems.1 In ancient time Indian games and sports were very much concerned about the development of the physique and for the art of offence and defense. The games were also considered for the kind of recreation, which played a vital role in the development of a mans personality. Games and sports, music, fishing, boating, singing dancing and water sports, had played important role in the life of human being.2 Physical Demands in Handball Handball is an Olympic sport played professionally in many countries. In spite of professionalization, this game need to scientific information to increased handball players performance. This can be due to many reasons, one of them is that most of the research which has been conducted in this field has been published in Eastern European countries and is not readily accessible to the sport science community. Another reason can be attributed to the conservative approach of most coaches towards physical conditioning for handball players. Modem handball is a fast game, characterized by incredible athletic performances by athletes. In fact, modern handball players are able to perform many different moves like jumping, running, change of directions and technical movements in very short time and with an order determined by the tactical situation. Players run with and without the ball, in line and with different paths, jumping, throwing, passing and receiving in motion or during flight represent the technical characteristics of a modem top handball player. Then, to excel at the highest levels, it is important that training methodologies are developed on simple basis specificity. The closer to the demands of the performance, the better the training is. To obey to the law of specificity we have to know exactly what are the physiological demands of handball performance. Research in Handball Handball matches have duration of 60 minutes divided in two halves lasting 30 minutes each. During this time players cover a total distance ranging from 2000 to 6000 meters, based upon different situations position on the field, tactical defensive and offensive characteristics of the team and characteristics of the game itself and so far and so forth. In a work presented by Cuesta (1988) handball players of the Spanish national team have shown to cover the following distances based upon playing position Left wing-3557 meters, Right wing-4083 meters, Left back-3464 meters, Right back-2857 meters, Pivot player- 3531 meters. The above-mentioned distances are close to the ones recorded in Konzak Schake (in Cuesta, 1988) related to DDR players. In a study conducted in Italy with a specific apparatus Play Controller, (Phromos, Perugia) 5000 meters were covered by a right wing during an official match of the Italian Second league. It is important to affirm the total displacement of players on the field is affected by many different parameters. Tactical disposition, position on the field, characteristics of the match itself, are all factors which in some way can affect the amount of space covered by the players on the field. However, what is important to say is that handball players cover the total distance alternating high-intensity actions (sprinting, fast direction changes, jumping) with game phases characterized by relatively low metabolic demands due to the low intensity of the actions. It can be said then that the metabolic demands of modern handball involve the aerobic and anaerobic energy pathways. As a supportive evidence, Konzak and Schacke (in Cuesta, 1988), have shown that, during a Handball match, players perform 190 rhythm variations, 279 change of direction and 16 jumps. Then, based upon what these authors say, a handball player performs a total 485 high-intensity movements in 60 minutes and aver age of 8 per minute, above results show that handball players require lot of physical capacity during match situation. Necessity of Assessment in Handball Team handball is a complex sport, which requires players to have well developed aerobic and anaerobic capacities Motor ability such as a sprinting, jumping, flexibility and throwing velocity represent physical activities are considered as important aspects of the game and contribute to the high performance of the team. Successful performance requires explosive power of the leg and arms, sprinting velocity and kinaesthetic feeling in ball control. On the other hand in a modern time handball players model specific anthropometric characteristics play a supportive role in helping better performance of athletes under the actual competitive condition. Specifically, body, height, body mass, palm span and palm length are important in improving athletes performance and are considered as basic criterion for athletes selection in various playing position. Specific skills also considered as the fundamental and important aspects of the game. First consideration in the training programme in handba ll must be given to skill.3 AAHPER, one of the well known institute regarding health, physical education and recreation in America also made survey about skill test and norms. Skill test and norms always help the players to evaluate their performance in the game and to provide an impetus to improvements. Need of evaluation of Handball players.4 Need of evaluation of Handball Players As compare to other games handball is most popular and fastest game in the world. It needs good physical structure, physical fitness and skill. For handball game it is quite difficult to evaluate the player because coach, selection committee, physical education teachers have to consider the above aspects. Evaluation of the players is the important process for teaching and coaching, through evaluation, a coach, selection committee members, physical educator and players know the draw backs of their games. At the time of evaluation coach advice players to improve the draw backs in their games. Hence, the coach, selection committee member and players must be aware of some evaluation techniques, which enable him to measure the fitness and skill objectively and classify them initially as well as by measuring the progress made by them. Handball players require good physical fitness, good body structure and good fundamental skill of handball for top performance in handball.5 Evaluation of sportsman is a must to identify their area of weaknesses and designed training model for improving specific athlete deficiencies. It also helps to follow the athlete improvement during training and game session. There are various tests for physical activities and games which help to measure the playing abilities of the players in different games. The test helps the players to evaluate their performance, predict future performance, indicate weakness, place the athlete in appropriate training programme or training group, motivate the athlete and to provide an incentive for improvement. The tests also help the trainers, coaches, selection committee to measure players performance and to evaluate their own coaching procedure and programme. These, tests should be used For the selection process, but unfortunately at the time of selection, selection committee only consider performance of the player on the basis of single game situation as a selection criterion. Unavailability of proper norms for selection of senior handball players in Maharashtra and in India is one of the main the reason of it. So the researcher has decided to conduct the study entitled Reforms in the Norms of Selection procedure for Maharashtra State Senior Level Male Players in Handball Game 1.1. History of Handball Ancient History Game including the hand and a ball looks back on a unbelievably long tradition. Even if the rules and the way of playing were hardly in line with todays handball, the Urania game played by the Greek which had already been mentioned in Homers Odyssey or Harpaston played by the Romans described by Claudius Galenus (AD 110 200) among others may definitely be characterized as prototype of todays handball. Such precursors also existed in todays Central Europe. Minnesingers Walther von der Vogelweide (1170 1230) sang about a, catch ball game, whereas in the 16th century, the Frank Rabelais described a kind of game in which the hands were used for playing the ball. Another game similar to handball was played by Greenlands Intuits at the end of the 18th century. The actual beginnings of the game of handball didnt develop until the end of the 19th century. A corresponding game was held in Nyborg (Denmark) in 1897. From that point on, fixed rules for ball games played between teams emerged . Games such as Treibball played against or over a border (Grenzball or Raffball, Konigsberger Ball) were well-known. Moreover, there were games towards baskets or against nets (German netball, nevjall. Turmball ), and later on games towards goals without ball control. Players were not allowed to run with the ball and to hold it longer than three seconds (Handball 1906 in Sweden, Neuer Raffball, Torball). Further development included games towards goals with ball control. In this case, players were allowed to run three steps with the ball or to hold it for three seconds. A kind of game from the Czech Republic was called Hazena, a form of field handball which already included the division of the playing field into three parts characterizing field handball. However, countries such as Denmark, Germany and Sweden are considered as the real handball pioneers of modern times.6 Modern Development Field handball was pushed by German gymnastics teacher so that, alongside handball, it became popular as an alternative to football, especially for women. In 1917, Max Heiser formulated the first official handball rules for women. Two years later, Karl Schelenz added the rules for the men. In the 20s, handball became a national sport. On the occasion of a meeting in The Hague (Netherlands) in 1926, the Congress of the International Amateur Athletics Federation appointed a commission for the elaboration of international playing rules for field handball. In 1928, the International Amateur Handball Federation (IAHF) was founded in Amsterdam on the occasion of the IX Olympic Games. One of the foundation members was Avery Brundage (USA) who later became IOC President in 1933; handball was included in the Olympic Programme. At the XI Olympic Games in Berlin, host Germany won the final and therefore the gold medal in the pouring rain in front of an audience of 100.000 people, beating Austria 10:6. One year after the end of World War II, representatives of eight nations met in Copenhagen, the capital of Denmark, and launched the International Handball Federation (IHF). It is considered founded on 11 July 1946. The nations; involved in the foundation are Denmark, Finland, France, Netherlands, Norway, Poland, Sweden and Swi tzerland. In 1960, the last Womens Outdoor World Championship was played whereas the last Mens Outdoor World Championship took place in 1996. At the XXXII Congress in Cairo, which has been the last official one so far, 167 member federations were counted. By now, handball is being played in 183 countries and the number of teams amounts to approximately 800,000. 1.2. History of Asian Handball Federation The march of the Asian Handball Federation had began when the Martyr Shaikh Fahad Al-Ahmad Al-Sabah head of the Kuwaiti delegation to the seventh Asian games, Tehran Iran 1974, presented a motion to the Executive Committee of the Asian Gamess requesting recognition of the handball game and also formation of the Asian Handball Federation. Consequently, in 1976, Handball Federations from all over Asia were invited to attend the establishment meeting during which representatives from fourteen Asian countries. Since its establishment in year 1974, AHF activities have been progressively expanding as its strategy has been focused on development and expansion of the handball game in the Asian continent. AHF members have been also actively involved in the remarkable achievements throughout the way.7 Table 1.1 Result of Asian Handball Championship Sr. No Year Host Country Gold Silver Bronze 1 1977 Kuwait Japan Korea China 2 1979 China Japan China Kuwait 3 1983 Korea Korea Japan Kuwait 4 1987 Jordan Korea Japan Kuwait 5 1989 China Korea Japan Kuwait 6 1991 Japan Korea Japan China 7 1993 Bahrain Korea Kuwait Japan 8 1995 Kuwait Kuwait Korea Bahrain 9 2000 Japan Korea China Japan 10 2002 Iran Kuwait Qatar Saudi- Arabia 11 2004 Qatar Kuwait Japan Qatar 12 2006 Thailand Kuwait Korea Qatar 11 2008 Iran Korea Kuwait Saudi- Arabia 14 2010 Lebanon Korea Bahrain Japan 15 2012 Jeddah Proposed 1.3. World Championship In 1938, the first Indoor Handball World Championship was played in the Deutschlandhalle in Berlin. This first Tournament was held with only four participating teams. The first field handball WC was held in July of the same year in Berlin and other German cities, which was also won by Germany who were then Olympic champions (in 1936) and dual world champions. Both WC tournaments were administered by the IAHF (International Amateur Handball Federation), the forerunner organization of 1946 founded IHF, which was founded in 1928, and meant to be celebrational events for the l0th birthday of the Organization. The first World Championship took place in Germany in 1938, involving four teams from Europe. Throughout their history, the World Championships has been dominated by European teams any medals have yet to be won by non-Europeans.8 Table 1.2 Result of Handball World Championships Sr. No. Year Host Country Gold Silver Bronze 1 1938 Germany Germany Austria Sweden 2 1954 Sweden Sweden West Germany Czechoslovakia 3 1958 East Germany Sweden Czechoslovakia Germany 4 1961 West Germany Romania Czechoslovakia Sweden 5 1964 Czechoslovakia Romania Sweden Czechoslovakia 6 1967 Sweden Czechoslovakia Denmark Romania 7 1978 Denmark West Germany Soviet Union East Germany 8 1982 West Germany Soviet Union Yugoslavia Poland 9 1986 Switzerland Yugoslavia Hungary East Germany 10 1990 Czechoslovakia Sweden Soviet Union Romania 11 1993 Sweden Russia France Sweden 12 1995 Iceland France Croatia Sweden 11 1997 Japan Russia Sweden France 14 1999 Egypt Sweden Russia Yugoslavia 15 2001 France France Sweden Yugoslavia 16 2003 Portugal Croatia Germany France 17 2005 Tunisia Spain Croatia France 18 2007 Germany Germany Poland Denmark 19 2009 Croatia France Croatia Poland 20 2011 Sweden France Denmark Spain 21 2011 Spain Proposed 1.4. Handball in Olympics After 1936, field handball was no longer played at the games; Indoor handball was presented for the first time at the 1972 Olympic Games in Munich. The introduction of womens handball to the Games took place in 1976 in Montreal. The Soviet Union won this first womens Olympic competition, taking home two gold medals after the 11-team mens competition and the six-team womens one.9 Table 1.3 Result of Handball Olympics Championships Sr. No. Year Host Country Gold Silver Bronze 1 1936 Berlin Germany Austria Switzerland 2 1948-1968 Not include in Olympic programme 3 1972 Munich Yugoslavia Czechoslovakia Romania 4 1976 Montreal Soviet Union Romania Poland 5 1980 Moscow East Germany Soviet Union Romania 6 1984 Los Angeles Yugoslavia West Germany Romania 7 1988 Seoul Soviet Union South Korea Yugoslavia 8 1992 Barcelona Unified Team Sweden Spine 9 1996 Atlanta Croatia Sweden France 10 2000 Sydney Russia Sweden Spain 11 2004 Athens Croatia Germany Russia 12 2008 Beijing France Iceland Spain 13 2012 London France Sweden Croatia 1.5. History of Handball in India In India, handball has become famous among other sports played at Schools, colleges, university, clubs and professionally. It is world second fastest game and always considered as a high fitness, perception, speed, timing, accuracy and agility. With its rules and regulation and playing set up is being popularly played in India. It is a devoting and challenging game. Indian athletes also represent National and International competitions in this game but lake of scientific Training, Knowledge, dirty politics, quota system research based information the results of handball players are very poor in international area. Handball entered India in early seventies with filed version (11 a side) outdoor game and Indian handball federation was formed in 1971, with 16 states as its units was played in its infant days in India, first senior national championship held at Haryana (Rohatak). Soon it spread all over the country but state like Punjab, Haryana, Jammu-Kashmir, A.P and Maharashtra have e dge over other states as far as standards and popularity of handball in India, On date IHF 33 units (States, Boards, Steel Plants and Railways) Punjab Police, Services C.I.C.F, C.R.P.F Professional team which dominated handball Scene the country. The place of this game in Asian was given in 1982 which was held in India at Delhi. This game was included all India-Inter University in 1979-80 and first All India Inter University held at Nagpur, Nagpur university won the Gold Medal, Silver Medal was won by Punjab, Bronze Medal was won by Osmania and Kurukshetra University got fourth place in men section. Women section Nagpur University P.A.U. University and Bombay University were bagged Gold, Silver and Bronze accordingly. Handball was included is a National games. Services, Punjab, Haryana, Jammu-Kashmir, Kerala, A.P and Maharashtra these states have given many International players to India. Indian team has participated at various international tournaments. Out of which India could win Second youth commonwealth handball championship held at Dhaka in 1995 after being runner up in 1990 at New Delhi, youth team also got second Place in 1997 commonwealth youth handball championship held at Edinburgh U.K. Apart from participation of India team some in club teams like Services, Punjab police, SAI, Gujarat and National Handball academy club participate in championship held at Malaysia, South Africa and Cochin. Services Handball team participated in world military Games. Punjab Police team remained runners up in South Africa. After infusion of handball events in police arena, it has generated more competition in national and state championships. Presently services team is the senior national champion. Similarly handball was introduced Maharashtra in 1972 at Nagpur and first handball state championship held at Nagpur. Since handball is most popular team game in Maharashtra and provides many quality International players. Presently Pune District team was champion of State Championship.10 Table 1.4 Result of Handball National Championships Sr. No. Year Host Country Gold Silver Bronze 1. 1972 Rothak Haryana A.P. 2. 1973 Hyderabad A.P. U.P. 3. 1973 Pune Punjab Bihar J K 4. 1975 Bangalore Bihar A.P. J K 5. 1976 Jamshedpur I.A.F. Bihar 6. 1977 Nizamabad I.A.F. Bihar 7. 1978 Shrinagar I.A.F. J K 8. 1979 Hyderabad I.A.F. A.P. 9. 1979 Ludhiana I.A.F. Maharashtra J K 10. 1980 Jammu I.A.F. Maharashtra 11. 1981 Hyderabad I.A.F. J K 12. 1982 Delhi I.A.F. Maharashtra A.P. 13. 1983 Wardha 14. 1985 Quilon I.A.F. A.P. Punjab 15. 1986 Bhadreswar Services Maharashtra J K 16. 1986 Bilaspur Services Steel Plants Punjab 17. 1987 J K Services Steel Plant Punjab 18. 1988 Jaipur Services Steel Plant Haryana 19. 1990 Hissar J K Services Haryana 20. 1991 Bhilai Services Steel Plant Punjab 21. 1992 Shimoga Services Steel Plant J K 22. 1992 Bilaspur Services Steel Plant J K 23. 1993 Ludhiana 24. 1994 Lucknow Services Steel Plant U.P. 25. 1994 Jamshedpur Services Karnataka Punjab 26. 1995 Warangal Services Punjab Steel Plant 27. 1996 Nagpur Services Punjab Steel Plant 28. 1997 Jallandar 29. 1997 Trivandrum Services Steel Plant Punjab 30. 1998 Vijayawada Services M.P. J K 31. 1999 Pune Services Rajasthan M.P. 32. 2000 Calicut 33. 2001 Bhilai M.P. Services Punjab 34. 2002 Jammu J K Chhattisgarh Services 35. 2003 Bhilai Chhattisgarh Rajasthan Services 36. 2004 Renikot Punjab Chhattisgarh Services 37. 2004 Jamshedpur Jharkhand SSCB Chhattisgarh 38. 2005 Bhilai Chhattisgarh Kerala Punjab 39. 2006 Ludhiana Punjab SSCB Chhattisgarh 40. 2007 Bilaspur Punjab SSCB Chhattisgarh 41. 2008 Bangalore SSCB Chhattisgarh Punjab 42. 2009 Vishakhapatnam SSCB Punjab Chhattisgarh 43. 2010 Kolkata Chhattisgarh SSCB Punjab 44. 2011 Indore SSCB Punjab Delhi 1.6. Statement of the Problems On the basis of overall observations, experience and general discussions which have been made with experts, referees, national and international players and reviewing of literature on the same theme, it is opined that there is an essential need to frame standard criteria for the selection of efficient and suitable players for handball game to be played at state or national level. Accordingly the present researcher has designed the following statement of problems: 1) Selection of players only on the basis of individual performance in a particular match is not always desirable. 2) In the selection process, basic motor qualities and skills are the most important factors to be considered in order to improve overall performance of the team in the long run. 3) There is no any criterion devised on the date for senior handball players in Maharashtra to provide guidelines for selection of suitable players. 1.7. Significance of the study There are an only a few research studies that have been conducted on this direction in India. Hence, as a serious dearth of research on it, the present study is an immense important to handball coaches, trainer and physical education teachers for making effective coaching and training as well as framing strategies for selecting suitable handball players in a team. It will be proved so fruitful to the selection committees to assess and evaluate the individual performance of handball players to use them for state, national level handball teams. The study may also provide an opportunity and encouragement to the sports talent to go through the standard norms and criteria for their practice in order to enhance their performance for getting selection in state, national team. Besides, the study is to provide an opportunity to research fellow to conduct further research in new dimension in the competitive arena. 1.8. Objectives of the study 1. To identify the performance variables of team handball. 2. To measure selected Morphological, Physical Fitness components and Handball skills. 3. To develop the Norms for Senior handball State level players. 4. To design grading scales for Senior handball State level players. 5. To find out Physical Fitness and Skill status of senior handball players on the basis of developed norms. 1.9. Hypotheses 1. The subjects have performed the fitness and skill test truthfully and with full capacity. 2. The subjects are medically, physically and psychologically fit for tests conducted by the researcher. 3. Maharashtra State Handball Association will permit to conduct the test on the subjects. 1.10. Delimitation of the study 1. This study is restricted to male senior handball players only. 2. This study measures the results of selected morphological, physical fitness and skills only. 3. The study geographical restricted to the Maharashtra state only. 1.11. Limitations of the study 1. The subjects covered under the study from various districts and regions of Maharashtra states having different economical status, diet and training. These are highly impossible to control, hence are limitation to study. 2. Heredity and environmental background of subjects may affect their performance in matches and they have not been controlled. . 1.12. Definitions In order to clarify the further discussion in the study, the following terms have adopted. Norms 11 Norms are performance standards based on analysis of scores. They are developed by collecting scores for a large number of individuals of the same gender and similar age, experience, ability and other such characteristics. Norms may be developed at the National, state or local level. Percentile, T-scores and Z-scores are forms of norms. Pcrcentile12 For the current study the percentile refers to a point in a distribution of scores below which a given percentage of the scores fall. Morphology13 It is a systematic study of external structure and form. Standing Height14 It is the maximum height of the individual when standing erect on a horizontal surface with his head and face in Frankfurt horizontal plane. It is the straight height of the subject (bare-footed) up to the point vertex. It is generally in meters nearest to half of the centimetre. Body weight15 Weight of the nude human body with empty bowels, is known as a body weight. It is measured by the help of weighing machine, is recorded in kilogram nearest to half of kilogram. Physical fitness16 It is the optimum ability to excel in physical strength, stamina and suppleness with respect to status, development and maintenance (SDM). Physical fitness has also defined as ones capacity to perform routine tasks with ease without any fatigue having sufficient extra energy for leisure time activities (WHO) Muscular Strength17 Muscular strength may be defined as the maximal muscular force or tension used in the creation or prevention of the movement in one maximal effort of a muscle group. Muscular Endurance18

Analysis of “Raise the Red Lantern” Essay

Yi-Mou Zhang’s Raise the Red Lantern, is a beautiful and brilliantly made film in its own right. If, however, the team of Orson Welles and Greg Toland had produced the same film it would take on an entirely different look and feel. The film would reflect Wells love for creating physical representations of thematic metaphors and the long take and Toland’s brilliant use of deep space photography and mobile framing. Under the direction of the Wells-Toland team, the film would take on subtle, yet significant differences from the very beginning. In the opening scene, with Songolian and her stepmother, the focus of the camera would still be a medium close up of Songolian; but, the previously unseen mother would now be seen in the extreme background and edges of the frame. Using deep focus and choreographing her movements the mother’s character would still remain faceless, but would seem more tangible and the feeling of distance between the mother and her stepdaughter could be re- enforced. The next major difference would be seen in the sequences involving Songolian’s entrance into the house itself. In Zhang’s original version, Songolian enters the frame with the inscription on the back wall shown briefly. The W-T revision would begin the entrance sequence with a medium close up of the inscription itself, slowly panning from left to right, just slowly enough to recognize the characters but fast enough to not allow the audience to actually read the inscription. The significance of the inscription on the wall has been explained as being not in the inscription, but in the characters themselves: in the oldest Chinese societies the written characters were created with arbitrary meaning assigned to them, only scholars and the aristocracy had the time and means to learn the meanings of the thousands of different characters used. The characters on the wall are alluding to a society which was dominated by male figures who arbitrarily created meaning and tradition. Zhang filmed the movement through the house in a series of shots usually cutting from the entrance into a archway or gate, to the exit on the other side from the same. This style creates a feeling of disorientation and the layout of the house is never really established for the audience. The W-T  duo would probably have filmed the various movements through the ground levels of the house in a series of long-takes with tracking shots. The shots, starting from approximately rooftop level, would then track forward and down to follow the movement of a character through the complex, rising up and ‘crawling’ over arches and entrance ways and then dropping down again. Instead of placing an emphasis on the feeling of the palace’s physical ‘discontinuity’ created by Zhang’s shots, this change would emphasize the magnitude of the structure itself, reenforcing the feeling of a well established and developed tradition and the insignificance of one small w oman. The other type of movement followed in the story is the movement above roof level. The W-T team would handle this in a much different fashion than Zhang. The movement above roof level represents freedom of various kinds and ultimately, escape. Welles would want the camera movement in the roof scenes to reflect this, consequently, the movement of a character on the roof would be filmed in a continuous take. The shot would probably be a tracking shot that changed angle and distance continuously, possibly even violating the 180 degree rule, in order to give the camera a bird like point of view. The other type of shot used above the roof level would be the fixed frame shots involving two or more characters at a distance; Toland would again use this opportunity to utilize his mastery of deep focus, keeping both of the characters in focus while displaying the distance between the two. In the next scene Songolian, enters her house for the first time. Zhang used a long shot to show her standing in the middle of the room, surveying her new accommodations. The W-T team would have used a longer shot, possibly even an extremely long shot in this instance. As the lanterns are being lit, the central chandelier above the bed would probably be shot from a bird’s eye perspective as it was being lowered and then a floor shot as it was being raised. The change in distance would make Songolian seem even smaller in the huge room, a tiny woman surrounded buy countless, huge red lanterns signifying the family traditions. When the husband is finally introduced into the film, the W-T team would  shoot the husband as a faceless character, just as Zhang had done. The technical difference, however would be that W-T, would use a shot/reverse-shot sequence with the husband in order to better display the distance between himself and Songolian. This would be a perfect opportunity for Toland’s mastery of the use of deep space. Shooting close to the husband from below shoulder level toward Songolian would create a better physical metaphor for the emotional distance between the two. Frequently in the film there are shots of the inner court-areas of the houses of various wives, shown with the red lanterns burning against the darkness of the night. Zhang, in his version, shoots these from a high angle and the camera is fixed in the inner courtyard. W-T would shoot this as a tracking shot, moving from a high angle shot of at least one of the dark inner courts and then pulling back to pan across the darkened compound, then moving to another high angle shot of the court with the lit lanterns. There are frequently points in the story where the husband leaves the house during the night to go to another house. The W-T team would shoot this from a high angle shot of the lit inner-court as the lanterns are extinguished and then use a tracking shot to ‘crawl’ along the compound to the house where the lanterns being lit, then the camera would pan back in the direction it had come to reveal the dark compound. The dining room is a central point in Zhang’s version of the film and would also be pivotal in the W-T version. Songolian is shown the dining room when she is given her tour of the house. The W-T version of this scene would closely resemble the Zhang version with one key difference. The W-T camera would raise to the faces of the portraits of the ancestors, move to a close up and then pan around the room giving us a shot representative of Songolian’s perspective. In the first dining scene the establishing shot would be the same shot that was originally used. The long shot that was used to establish the parameters of the room and provide a subtle suggestion of the thematic implication of the scene would take on new meaning under the direction of the Wells-Toland team. The Spartan room, surrounded on three sides by portraits of past patriarchs of the family was visible in the establishing shot, but the presence of the ‘family men’ is only alluded to;  with T oland’s use of deep focus the portraits of the patriarchs could be brought into clear perspective, bringing the idea of the influence of the ancestors more securely into the scene. As the scene progresses Zhang’s original sequence of shot, reverse-shot wold still be used, and the camera’s height would remain above the table level; the important difference between the Zhang’s shots and the W-T shots would be the camera’s angle. W-T would lower the camera slightly and drastically increase the angle in order to include the faces of the long deceased patriarchs in the same frames with the wives in the close-ups and medium close-ups. This change, in conjunction with deep focus, would alter the thematic implications of these scenes by introducing the faces of these nameless men directly into the world of the wives, they would be literally, looking over their shoulders. The most significant change in the film would come during the scene when Meishan is hung. Wells would want to convey Songolian’s feeling of fear and confusion and Toland would accomplish this by using a long take beginning when Songolian first sees the lanterns coming through the archway. The camera would then shift to a P.O.V. shot representing Songolian following the men up to the rooftop. Reaching the rooftop level the camera would rush forward to reveal a medium long shot of the men taking Meishan into the room, then turn on its axis and rush back toward Songolian to display the revelation on her face and her fear. Finally, the camera would circle behind Songolian in a very long reverse shot and Toland’s masterful deep focus would display the men leaving the room upon completion of the act.

Questions: International Trade Theory

Chapter 05 International Trade Theory True / False Questions 1. (p. 161) Propagated in the 16th and 17th centuries, mercantilism advocated that countries should discourage both imports and exports. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 2. (p. 161) Free trade refers to a situation where a government attempts to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 3. (p. 61) Proposed in 1776, David Ricardo's theory was the first to explain why unrestricted free trade is beneficial to a country. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 4. (p. 161) According to Adam Smith, the invisible hand of the market mechanism, rather than government policy, should determine what a country imports and what it exports. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 5. (p. 161) Nineteenth century English economist David Ricardo popularized a laissez-fair stance of government towards trade.FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 6. (p. 162) The great strength of the theories of Smith, Ricardo, and Heckscher-Ohlin is that they identify the specific benefits of international trade. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 7. (p. 162) A country's economy would gain only if its citizens buy products that are made in that country. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 8. p. 163) During the 1980s, economist such as Paul Krugman developed what has come to be known as the new tr ade theory. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 9. (p. 164) The first theory of international trade emerged in England in the mid-16th century. Referred to as the theory of comparative advantage, its principle assertion was that gold and silver were the mainstays of national wealth and essential to vigorous commerce. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 0. (p. 164) The main tenet of mercantilism was that it was in a country's best interests to maintain a trade surplus. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 11. (p. 165) Zero-sum game refers to a situation in which an economic gain by one country results in an economic loss by another. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 12. (p. 165) A positive-sum game refers to a situation in which ma jor industrial nations can benefit even if some of them are able to benefit more than others.FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 13. (p. 165) If a country is more efficient than any other country in the production of a product, it has what is known as definitive advantage in the production of that product. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Absolute Advantage 14. (p. 165) In his 1776 landmark book, â€Å"The Wealth of Nations,† Adam Smith supported the mercantilist assumption that trade is a zero-sum game. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2Topic: Absolute Advantage 15. (p. 165) According to Adam Smith, countries should specialize in the production of goods for which they have an absolute advantage and then trade these for goods produced by other countries. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Absolute Advantage 16. (p. 167-168) Ricardo's theory of competitive advantage says that it is logical for a country to specialize in the production of goods that it produces most efficiently and to export goods that it produces less efficiently. FALSE AACSB: Analytic BT: KnowledgeDifficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 17. (p. 170) The basic message of the theory of comparative advantage is that potential world production is greater with unrestricted free trade than it is with restricted trade. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 18. (p. 170) Smith's theory suggests that consumers in all nations can consume more if there are no restrictions on trade. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 19. (p. 70) Ricardo's theory is so powerful that it remains a major intellectual weapon for advocates of free trade. TRUE AACSB: A nalytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 20. (p. 170-171) Nobel Prize-winning economist Paul Samuelson argued that contrary to the standard interpretation, in certain circumstances the theory of comparative advantage predicts that a rich country might actually be worse off by switching to a free trade regime with a poor country. TRUE AACSB: Reflective thinking BT: Knowledge Difficulty: Easy Learning Objective: 5-3Topic: Comparative Advantage 21. (p. 171) Embracing a free trade regime for an advanced economy often implies that the country will produce less of some labor-intensive goods and more of some knowledge-intensive goods, TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 22. (p. 172) The comparative advantage model assumed that trade does not change a country's stock of resources or the efficiency with which it utilizes those resources. TRUE AACSB: Analytic BT: Knowledge D ifficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 23. (p. 74) A study over the 1950-1998 period revealed that countries that liberalized their trade regimes experienced, on average, increases in their annual growth rates of 15 percent compared to preliberalization times. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 24. (p. 175) Despite the short-term adjustment costs associated with adopting a free trade regime, trade would seem to produce a greater economic growth and higher living standards in the long run, just as Ricardo's theory leads us to expect. TRUE AACSB: Analytic BT: Knowledge Difficulty: EasyLearning Objective: 5-3 Topic: Comparative Advantage 25. (p. 176) Factor endowments refer to the extent to which a country is endowed with such factors as land, labor, and capital. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 26. (p. 176) The He ckscher-Ohlin theory would predict that the United States should be a primary importer of capital goods. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 27. (p. 176) The Heckscher-Ohlin theory has been one of the least influential in international economics.FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 28. (p. 176) Most economists prefer the Heckscher-Ohlin theory to Ricardo's theory because it makes fewer simplifying assumptions and it has been subjected to many empirical tests. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 29. (p. 177) Wassily Leontief's theory of the product life-cycle was based on the observation that for most of the 20th century, a very large proportion of the world's new products were developed by foreign nations and sold in he U. S. market. FALSE AACSB: Analytic BT: Knowledge Diffic ulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 30. (p. 177) Vernon argued that early in the life cycle of a typical new product, while demand is starting to grow rapidly in the United States, demand in other advanced countries is available to all income groups. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 31. (p. 178) Historically, the product life-cycle theory seems not to be an accurate explanation of international trade patterns. FALSE AACSB: Analytic BT: KnowledgeDifficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 32. (p. 178) Viewed from an Asian or European perspective, Vernon's argument that most new products are developed and introduced in the United States is ethnocentric. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 33. (p. 180) The new trade theory began to emerge in the 1970s when a num ber of economists pointed out that the ability of firms to attain economies of scale might have important implications for international trade. TRUE AACSB: Analytic BT: Knowledge Difficulty: EasyLearning Objective: 5-2 Topic: New Trade Theory 34. (p. 180) In industries where economies of scale are important, both the variety of goods that a country can produce and the scale of production are limited by the size of the market. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: New Trade Theory 35. (p. 184) In sum, Porter's argument is that the degree to which a nation is likely to achieve international success in a certain industry is a function of the combined impact of factor endowments, domestic demand conditions, related and supporting industries, and lack of domestic rivalry.FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-4 Topic: National Competitive Advantage: Porter's Diamond 36. (p. 185) According to Porter, advanced factors are the most significant for competitive advantage. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 37. (p. 188) According to Michael Porter, factor endowments can be affected by subsidies, policies toward capital markets, and policies toward education. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-4Topic: National Competitive Advantage: Porter's Diamond 38. (p. 189) The individual firm should invest substantial financial resources in trying to build a first-mover, even if that means several years of losses before a new venture becomes profitable. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-5 Topic: Focus on Managerial Implications 39. (p. 189) Because of their pivotal role in international trade, businesses are at the mercy of government trade policy. FALSE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-5 Topic: Focus on Managerial Implications 40. (p. 90) According to Porter's theory of national competitive advantage, a firm should invest in upgrading advanced factors of production because it is in the best interest of business for a firm to do so. TRUE AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-5 Topic: Focus on Managerial Implications Multiple Choice Questions 41. (p. 161) Which of the following is best identified by saying it is the absence of government-imposed barriers to the free flow of goods and services between countries? A. Free trade B. Mercantilism C. Socialism D. Market system AACSB: Analytic BT: Knowledge Difficulty: EasyLearning Objective: 5-1 Topic: An Overview of Trade Theory 42. (p. 161) _____ refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country. A. Mercantile trade B. Free trade C. Clear commerce D. Unen cumbered commerce AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 43. (p. 161) David Ricardo advanced the: A. new trade theory. B. product life-cycle theory. C. comparative advantage theory. D. factor endowment theory. AACSB: AnalyticBT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 44. (p. 161) The theory of comparative advantage, advanced by _____, is the intellectual basis of the modern argument for unrestricted free trade. A. Michael Porter B. David Ricardo C. Bertil Ohlin D. Adam Smith AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 45. (p. 162) How do countries' economies gain from international trade? A. Country can specialize in the manufacturing of products that are produced most efficiently in other countries. B. Citizens should buy only those roducts that are produced domestically. C. Since it is of interest to domesti c producers, countries benefit from international trade. D. Countries can import products that can be produced more efficiently in other countries. AACSB: Analytic BT: Knowledge Difficulty: Medium Learning Objective: 5-1 Topic: An Overview of Trade Theory 46. (p. 162) With their future threatened by imports, _____ textile companies and their employees have tried hard to persuade the government to limit the importation of textiles by demanding quotas and tariffs. A. Chinese B. Indian C. Japanese D. U. S. AACSB: Analytic BT: KnowledgeDifficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 47. (p. 162-163) Climate and natural resource endowments explain why all of the following happen EXCEPT: A. Brazil exports coffee. B. Iceland exports oranges. C. China exports crawfish. D. Saudi Arabia exports oil. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 48. (p. 164) Propagated in the 16th and 17th centuries, _____ advocated that countries should simultaneously encourage exports and discourage imports. A. ethnocentrism B. capitalism C. collectivism D. mercantilismAACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 49. (p. 164) Which of the following statements most accurately captures the main tenet of mercantilism? A. It is in a country's best interests to not export products to less developed countries. B. It is in a country's best interests to import products that are most efficiently produced at home. C. It is in a country's best interests to import less specialized goods than to attempt to make them at home. D. It is in a country's best interests to maintain a trade surplus, to export more than it imports. AACSB: Reflective thinkingBT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Mercantilism 50. (p. 164) Considered to be the first theory of international trade, _____ principal assertion was that gold and silver were the mainstays of national wealth and essential to vigorous commerce. A. collectivism's B. mercantilism's C. capitalism's D. economic conservatism's AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 51. (p. 164) Which of the following is NOT consistent with the central beliefs of mercantilism? A. Government should intervene to achieve a surplus in the balance of trade.B. Policies should be put in place to minimize exports and maximize imports. C. Imports should be limited by tariffs and quotas. D. Exports should be subsidized. AACSB: Analytic BT: Knowledge Difficulty: Medium Learning Objective: 5-2 Topic: Mercantilism 52. (p. 165) The flaw with mercantilism was that it viewed trade as a: A. zero-sum game. B. mutually beneficial activity. C. nonessential economic activity. D. threat to a government's independence. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 53. (p. 165) A situation in which a gain by one party r esults in a loss by nother is called: A. economic independence. B. an unrestricted trade. C. a zero-sum game. D. trade surplus. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Mercantilism 54. (p. 165) The theory of _____ was advanced by Adam Smith. A. absolute advantage B. comparative advantage C. new trade D. mercantilism AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Absolute Advantage 55. (p. 165) A country is noted as having a(n) _____ in the production of a product when it is more efficient than any other country in producing that product. A. comparative advantage B. onsumer advantage C. competitive advantage D. absolute advantage AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Absolute Advantage 56. (p. 165) According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then: A. retain these goods for strictly domestic sales. B. trade these goods for the goods produced by other countries. C. sell these goods to the highest domestic or international bidder. D. prohibit the import of these goods from other countries. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2Topic: Absolute Advantage 57. (p. 167) In his 1817 book entitled â€Å"The Principles of Political Economy,† _____ introduced the theory of comparative advantage. A. Adam Smith B. David Ricardo C. Raymond Vernon D. Max Weber AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Comparative Advantage 58. (p. 167-168) A situation in which a country specializes in producing the goods it produces most efficiently and buys the products it produces less efficiently from other countries, even if it could produce the good more efficiently itself is referred to as: A. comprehensive advantage. B. pertinent advantage.C. comparative advantage. D. absolute advantage. AACSB: Analytic BT: Knowle dge Difficulty: Easy Learning Objective: 5-2 Topic: Comparative Advantage 59. (p. 170) To an even greater degree than the theory of absolute advantage, the theory of _____ suggests that trade is a positive-sum game in which all gain. A. total advantage B. mercantilism C. comparative advantage D. paradoxical advantage AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 60. (p. 170) _____ theory suggests that consumers in all nations can consume more if there are no restrictions on trade.A. Porter's B. Vernon's C. Samuelson's D. Ricardo's AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 61. (p. 170) Comparative advantage is based on assuming away: A. the effects of trade on income distribution within a country. B. constant returns to scale. C. that the resources can move freely from the production of one good to another. D. that free trade does not change the efficiency with which the co untries use their resources. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 2. (p. 170-171) _____ argued that contrary to the standard interpretation, in certain circumstances the theory of comparative advantage predicts that a rich country might actually be worse off by switching to a free trade regime with a poor nation. A. Raymond Vernon B. Andrew Warner C. Paul Samuelson D. Jeffery Sachs AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: Comparative Advantage 63. (p. 171) Which of the following is an issue with the ‘constant returns to specialization' assumption? A. Constant returns to specialization imply a concave PPF. B.Constant returns to specialization suggest that the gains from specialization are likely to be exhausted before specialization is complete. C. It is feasible for a country to specialize to a point where the resulting gains from trade are outweighed by diminis hing returns. D. Resources are of different quality and hence more units are required to produce each additional unit. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 64. (p. 171) In comparative advantage, the assumption is that resources can move freely from production of one good to another.Why is this assumption unrealistic? A. The process of shifting resources from one good to another eliminates human suffering. B. The benefit of free trade is much lesser compared to the cost of shifting resources. C. The process of moving resources causes friction and human suffering. D. Resources move easily from one economic activity to the other. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 65. (p. 171) The gains from trade once the transition toward free trade has been made: A. eliminates human suffering. B. auses resources to easily shift between econ omic activities. C. is lesser than the cost of shifting resources. D. are both significant and enduring. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 66. (p. 173) What would be the consequences of dynamic gains in both the stock of a country's resources and the efficiency with which resources are utilized? A. It will cause the country's PPF to be in a bell-shaped curve. B. The country can produce more goods than it did before free trade. C. Dynamic gains would lead to an outcome that is beneficial under all circumstances.D. The country will achieve constant returns to specialization. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 67. (p. 173) What was Samuelson's criticism of free trade? A. He argued that in some circumstances, dynamic gains can lead to an outcome that is beneficial for the country. B. He argued that offshoring service jobs th at were traditionally mobile will increase the market clearing wage rate. C. He favored introducing protectionist measures to guard against the theoretical harmful effects of free trade. D.He argued that being able to purchase groceries 20 percent cheaper at Wal-Mart does not necessarily make up for the wage losses. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: Comparative Advantage 68. (p. 174) _____ and _____ created a measure of how open to international trade an economy was and then looked at the relationship between openness and economic growth for a sample of more than 100 countries from 1970 to 1990. A. Ricardo; Smith B. Warner; Sachs C. Porter; Vernon D. Samuelson; Ohlin AACSB: Analytic BT: Knowledge Difficulty: EasyLearning Objective: 5-3 Topic: Comparative Advantage 69. (p. 176) According to the Heckscher-Ohlin theory, the pattern of international trade is determined by differences in: A. productivity. B. political interests . C. factor endowments. D. national priorities. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 70. (p. 176) The Heckscher-Ohlin theory: A. argued that comparative advantage arises from differences in national factor endowments. B. argues that differences in labor productivity between nations underlie the notion of comparative advantage. C. redicts that countries will import goods that make intensive use of factors that are locally abundant. D. is less favored than Ricardo's theory because it makes many simplifying assumptions. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 71. (p. 176) Which theory predicts that countries will export those goods that make intensive use of those factors that are locally abundant, while importing goods that make intensive use of factors that are locally scarce? A. Smith-Ricardo B. Vernon-Samuelson C. Heckscher-Ohlin D. Carrier-R oller AACSB: AnalyticBT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 72. (p. 176) Which of the following statements is a fair comparison of the Heckscher-Ohlin theory and the Ricardo theory of free trade? A. Both theories argue that the pattern of international trade is determined by currency exchange rates. B. Unlike Ricardo's theory, the Heckscher-Ohlin theory argues that the pattern of international trade is determined by differences in factor endowments, rather than differences in productivity. C. Both theories argue that the pattern of international trade is determined by constant returns to specialization.D. Unlike the Heckscher-Ohlin theory, Ricardo's theory makes fewer simplifying assumptions. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 73. (p. 176) According to the text, most economists prefer the Heckscher-Ohlin theory to Ricardo's theory because: A. it makes fewe r simplifying assumptions. B. it predicts trade patterns with greater accuracy. C. Ricardo's theory is less accurate due to the Leontief paradox. D. many of the empirical tests have raised questions about the validity of Ricardo's theory. AACSB: Reflective thinking BT: ComprehensionDifficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 74. (p. 176) The Heckscher-Ohlin theory has a(n) _____ appeal. A. political B. commonsense C. economic D. cost efficiency AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 75. (p. 176) Contrary to what the Heckscher-Ohlin theory would predict, the United States has been a primary importer rather than an exporter of capital goods. This phenomenon is referred to as the _____ paradox. A. Theler B. Leontief C. Cormier D. Ricardo AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2Topic: Heckscher-Ohlin Theory 76. (p. 176) What is a possible explanation for observing the Leontief paradox? A. The U. S. imports goods that heavily use skilled labor and innovative entrepreneurship. B. The U. S. has a special advantage in producing new products made with innovative technologies. C. The U. S. exports heavy manufacturing products that use large amounts of capital. D. The U. S. has a strong absolute advantage over all other foreign nations because of its resource capabilities. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 77. (p. 76) Of the following, whose theory predicted that countries would export goods that make intensive use of factors that are locally abundant while importing goods that make intensive use of factors that are locally scarce? A. Ricardo B. Porter C. Leontief D. Heckscher-Ohlin AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 78. (p. 176) The _____ occurred due to the findings that U. S. exports were less capital- intensive than U. S. imports. A. theory of rising costs B. Leontief paradox C. theory of comparative advantage D. diminishing returns to specialization AACSB: AnalyticBT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 79. (p. 177) David Ricardo's theory of comparative advantage attempts to rationalize why some countries export automobiles, consumer electronics, and machine tools, while other countries export chemicals, watches, and jewelry. This rationalization is best explained in terms of: A. absolute advantage in terms of resources. B. international differences in labor productivity. C. the proportions in which the factors of production are available. D. the cultural histories of the exporting nations. AACSB: Reflective thinking BT: ComprehensionDifficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 80. (p. 177) Raymond Vernon proposed the product life cycle in the mid-1960s. Vernon argued that two factors gave the U. S. firms a strong incentive to develop new consumer products. These two factors were _____ and: A. low cost; number of industries. B. market size; types of competitors. C. wealth; size of the U. S. market. D. low income groups; low cost of U. S. labor. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 81. (p. 177) Vernon's product life-cycle theory was based on the observation hat for most of the 20th century, a very large proportion of the world's new products had been developed by U. S. firms and sold first in the _____ market. A. Japanese B. Western European C. U. S. D. Canadian AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 82. (p. 177) Vernon argues that early in the life cycle of a typical new product, while demand is starting to grow rapidly in the United States, demand in other advanced countries: A. remains limited to high income groups. B. necessitates imports to th e U. S. C. attracts manufacturing possibilities.D. limits exports from U. S. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 83. (p. 178) As the market in the U. S. and other advanced nations matures, the product becomes more standardized and price becomes: A. governmentally regulated. B. greater. C. unimportant. D. the main competitive weapon. AACSB: Analytic BT: Knowledge Difficulty: Medium Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 84. (p. 178) Which of the following has historically been noted as being an accurate explanation for international trade patterns?A. Product life-cycle theory B. Absolute advantage theory C. Competitive advantage theory D. Heckscher-Ohlin theory AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 85. (p. 178) According to the text, historically the product-life-cycle theory is a(n): A. relevant theory in the modern world . B. accurate explanation of international trade patterns. C. example of culturally relative theories. D. without any weakness. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 86. (p. 78) Which of the following theories might better explain why certain components are produced in certain locations and why the final product is assembled elsewhere? A. New trade B. Comparative advantage C. Heckscher-Ohlin D. Product life-cycle AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 87. (p. 180) The _____ theory began to emerge in the 1970s when some economists pointed out the ability of firms to attain economies of scale might have important implications for international trade. A. balanced trade B. Heckscher-Ohlin C. new trade D. product life-cycleAACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: New Trade Theory 88. (p. 180) _____ are unit cost re ductions associated with a large scale of output. A. Comparative advantages B. Factor endowments C. Economies of scale D. Diminishing returns AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: New Trade Theory 89. (p. 180) Because of substantial economies of scale, the _____ theory argues that trade can increase the variety of goods available to consumers. A. comparative advantage B. product life-cycle C. new trade D. Heckscher-Ohlin AACSB: Analytic BT: KnowledgeDifficulty: Easy Learning Objective: 5-2 Topic: New Trade Theory 90. (p. 180) Which of the following theories argues that due to the presence of substantial scale economies, world demand will support only a few firms in many industries? A. Heckscher-Ohlin B. Leontief's paradox C. Product life-cycle D. New trade AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: New Trade Theory 91. (p. 180) The new trade theory points out that through its impact on economies of scale, tra de can increase the variety of goods available to consumers and: A. reduce the volume of the goods produced. B. eliminate competition.C. lower the costs of the goods. D. reduce the quality of the goods produced. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: New Trade Theory 92. (p. 180) If a national market is small, there may not be enough demand to enable producers to realize _____ for certain products. A. high volumes B. economies of scale C. low unit costs D. competitive pricing AACSB: Analytic BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: New Trade Theory 93. (p. 181) Which of the following is NOT an indicator of why trade is considered to be mutually beneficial to those involved in it?A. It allows for specialization. B. It allows for production of products at higher prices. C. It affords realization of scale economies. D. It affords production of a larger variety of products. AACSB: Reflective thinking BT: Comprehension Dif ficulty: Medium Learning Objective: 5-3 Topic: New Trade Theory 94. (p. 181) The economic and strategic advantages that accrue to early entrants in an industry are called: A. first-mover advantages. B. comparative advantages. C. factor endowment advantages. D. first-stage benefits. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3Topic: New Trade Theory 95. (p. 181) What of the following is an advantage that first-movers enjoy? A. Benefit from a high cost structure. B. A zero-sum game due to lack of competition. C. Capture scale economies ahead of later entrants. D. Increase trade barriers. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: New Trade Theory 96. (p. 181) According to the new trade theory, firms that establish a(n) _____ advantage with regard to the production of a particular new product may subsequently dominate global trade in that product. A. omparative B. late entrant C. first-mover D. constant retur n AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: New Trade Theory 97. (p. 182) The new trade theory is at variance with the _____ theory, which suggests that a country will predominate in the export of a product when it is particularly well endowed with those factors used intensively in its manufacture. A. Heckscher-Ohlin B. product life-cycle C. comparative advantage D. Ricardo-Smith AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-3 Topic: New Trade Theory 98. (p. 83) In terms of first-mover advantages and international trade, who conducted a study suggestive of the existence of first-mover advantages as an important factor in explaining the dominance of firms from certain nations in specific industries? A. Alfred Chandler B. Michael Porter C. Adam Smith D. Hawker Siddley AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-4 Topic: New Trade Theory 99. (p. 183) Considered by some to be the most contentious implica tion of the new trade theory is that it generates an argument for _____ and ______. A. high cost production; high import tariffs. B. igh volume production; low variety of goods. C. weak export; entrepreneurship. D. government intervention; strategic trade policy. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-4 Topic: New Trade Theory 100. (p. 183) The theory of _____, developed by Michael Porter, focuses on determining why some nations succeed and others fail in international competition. A. new trade B. absolute advantage C. comparative advantage D. national competitive advantage AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 01. (p. 183) What was the essential task of Michael Porter's national competitive advantage? A. How do nations use their resources efficiently? B. Why does a nation achieve international success in a particular industry? C. How do countries gain first-mover a dvantages? D. Why has a large proportion of the world's new products been developed by U. S. firms and sold first in the U. S. market? AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 102. (p. 184) Porter's suggested four attributes making up the diamond† consist of factor endowments, relating and supporting industries, firm strategy and structure, and: A. competitive advantage. B. mercantilism. C. constant returns to specialization. D. demand conditions. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 103. (p. 184) Which of the following indicate the presence or absence of supplier industries and related industries that are internationally competitive? A. Factor endowments B. Firm's structure and rivalry C. Relating and supporting industriesD. Demand conditions AACSB: Analytic BT: Knowledge Difficulty: Ea sy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 104. (p. 184) According to Porter's diamond, a nation's position in factors of production such as skilled labor or the infrastructure necessary to compete in a given industry is best referred to as: A. capitalization. B. diminishing returns. C. factor endowments. D. relating industries. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 105. (p. 84) Porter's thesis was that four broad attributes of a nation shape the environment in which local firms compete, and that these attributes promote or impede the creation of competitive advantage. All of the following are attributes EXCEPT: A. factor endowments. B. first-mover advantages. C. firm strategy, structure, and rivalry. D. relating and supporting industries. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 106. (p. 184) Porter maintains that two additional variables can influence the national diamond in important ways.These two variables are _____ and ______. A. entrepreneurship, strategic trade policies. B. trade shortage, high import tariffs. C. absolute advantage; PPF. D. chance; government. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 107. (p. 185) In the context of factor endowments, which of the following are considered to be classed as advanced factors? A. Demographics B. Climate and location C. Natural resources D. Skilled labor AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 08. (p. 185) Porter argued that in terms of factor endowments, _____ factors are the most significant for competitive advantage in his study dealing with the competitive advantage of nations. A. constant B. basic C. advanced D. complement ary AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 109. (p. 185) Porter argues that a nation's firms gain competitive advantage if their domestic consumers are _____ and _______. A. sophisticated; demanding. B. ethnocentric; rich. C. accommodating; uneducated. D. low skilled; nationalist. AACSB: AnalyticBT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 110. (p. 185) Michael Porter emphasizes the role home demand plays in upgrading: A. competitive advantage. B. factor endowment. C. constant returns to specialization. D. production possibility frontier. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 111. (p. 185) Unlike the naturally endowed basic factors, advanced factors are a product of investment by all of the following EXCEPT: A. companies. B. governments. C. dem ographics.D. individuals. AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 112. (p. 187) In Porter's model of competitive advantage, the fourth broad attribute is the strategy, structure, and rivalry of firms within a nation. Porter suggested that there is a strong association between _____ and the creation and persistence of competitive advantage in an industry. A. inflation B. vigorous domestic rivalry C. new government regulations and higher taxes D. new product development AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2Topic: National Competitive Advantage: Porter's Diamond 113. (p. 187) Who argued that successful industries within a country tend to be grouped into â€Å"clusters† of related industries? A. Porter B. Vernon C. Ricardo D. Heckscher AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 1 14. (p. 187-188) Porter argues that the presence of all components is usually required for the â€Å"diamond† to boost: A. international recognition. B. competitive performance. C. corporate social responsibility. D. employee morale. AACSB: Analytic BT: KnowledgeDifficulty: Easy Learning Objective: 5-4 Topic: National Competitive Advantage: Porter's Diamond 115. (p. 188) We would expect Porter's model to predict _____, if he is correct. A. currency exchange rates B. membership in the WTO C. the pattern of international trade D. factor endowments AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-4 Topic: National Competitive Advantage: Porter's Diamond 116. (p. 189) According to the new trade theory, firms that establish a(n) _____ advantage in terms of the production of a particular new product may subsequently dominate global trade in that product.A. competitive B. comparative C. absolute D. first-mover AACSB: Analytic BT: Knowledge Difficulty: Easy Learni ng Objective: 5-5 Topic: Focus on Managerial Implications 117. (p. 189) The manufacture of standard electronic components is a _____ process requiring semi-skilled labor. A. low cost B. capital-intensive C. labor-intensive D. first-mover advantage AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-5 Topic: Focus on Managerial Implications 118. (p. 189) Because of their pivotal role in international trade, _____ can exert a strong influence on government trade policies.A. individual citizens B. voluntary organizations C. unions D. businesses AACSB: Analytic BT: Knowledge Difficulty: Easy Learning Objective: 5-5 Topic: Focus on Managerial Implications 119. (p. 190) Porter's theory of national competitive advantage suggests that it is in the best interest of business for a firm to invest in upgrading advanced factors of production. The means for accomplishing this include all of the following EXCEPT: A. increase research and development activities. B. provide better t raining for employees. C. adopt policies that eliminate competition.D. develop methods to improve the skill levels of workers. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-5 Topic: Focus on Managerial Implications 120. (p. 190) According to Porter's theory, governments should be urged to _____ that will have a favorable impact on each component of the national diamond. A. increase trade barriers B. favor unionization C. adopt policies D. restrict import AACSB: Analytic BT: Comprehension Difficulty: Medium Learning Objective: 5-5 Topic: Focus on Managerial Implications Essay Questions 121. p. 161, 164) What is meant by the term â€Å"free trade†? Was Adam Smith an advocate or critic of free trade? Is free trade compatible with the concept of mercantilism? Free trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and s ell to another country. This concept was supported by Adam Smith, who argued that the â€Å"invisible hand† of the market mechanism, rather than government policy, should determine what a country imports and what it exports.The concept of mercantilism is not compatible with the concept of free trade. The main tenet of mercantilism is that it is in a country's best interests to maintain a trade surplus by exporting more than it imports. Consistent with this belief, the mercantilist doctrine advocated government intervention to achieve a surplus in the balance of trade. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-1 Learning Objective: 5-2 Topic: An Overview of Trade Theory, Mercantilism 122. (p. 161) When does free trade occur?Free trade occurs when a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country. AACSB: Reflective thi nking BT: Comprehension Difficulty: Easy Learning Objective: 5-1 Topic: An Overview of Trade Theory 123. (p. 165) Describe Adam Smith's concept of absolute advantage. According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then trade those goods for the goods produced by other countries.For instance, during Smith's time, England had an absolute advantage in the production of textiles, and France had an absolute advantage in the production of wine. According to the concept of absolute advantage, it then only makes sense for England to produce textiles (and export them to France), and France to produce wine (and export it to England). Smith's basic argument, therefore, was that a country should never produce goods at home that it can buy at a lower cost from other countries.Moreover, Smith argued that by specializing in the production of goods in which each has an absolute advantage, both countries benefit by engaging in trade. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Absolute Advantage 124. (p. 176) Describe the Heckscher-Ohlin theory of international trade. The Heckscher-Ohlin theory predicts that countries will export those goods that make intensive use of those factors that are locally abundant, while importing goods that make intensive use of factors that are locally scarce.Thus, the Heckscher-Ohlin theory attempts to explain the pattern of international trade that we see in the world economy. The Heckscher-Ohlin theory is consistent with the notion of free trade. It also has commonsense appeal, and there are many examples of international commerce that are supportive of the theory. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: Heckscher-Ohlin Theory 125. (p. 177) Describe the central tenant of the product life-cycle theory. Raymond Vernon initially proposed the product life-cycle theory in t he mid-1960s.Vernon's theory was based on the observation that for most of the 20th century a very large proportion of the world's new products had been developed by U. S. firms and sold first in the U. S. market. It could be produced abroad at some low-cost location and then exported back into the United States. Vernon went on to argue that early in the life cycle of a typical new product, while demand is starting to grow rapidly in the United States, demand in other advanced countries is limited to high-income groups.The limited initial demand in other advanced countries does not make it worthwhile for firms in those countries to start producing the new product, but it does necessitate some exports from the United States to those countries. Over time, demand for the new product grows in other advanced countries (e. g. , Great Britain, France, Germany, and Japan). As it does, it becomes worthwhile for foreign producers to begin producing for their home markets. AACSB: Reflective th inking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: The Product Life-Cycle Theory 126. (p. 80, 182) Describe the new trade theory. How does the new trade theory help us understand why the United States is dominant in the world market for commercial aircraft exports? New trade theory makes two important points: First, through its impact on economies of scale, trade can increase the variety of goods available to consumers and decrease the average costs of those goods. Second, in those industries when the output required to attain economies of scale represents a significant proportion of total world demand, the global market may be able to support only a small number of enterprises.Thus, world trade in certain products may be dominated by countries whose firms were first movers in their production. In such industries, firms that enter the market first build a competitive advantage that is difficult to challenge. Thus, the observed pattern of trade between nations may in part be due to the ability of firms to capture first-mover advantages. New trade theorists argue that the United States is a major exporter of commercial jet aircraft not because it is better endowed with the factors of production required to manufacture aircraft, but because one of the first movers in the industry, Boeing, was a U. S. firm.This dominance is further reinforced because global demand may not be sufficient to profitably support another producer of midsized and large jet aircraft in the industry. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Learning Objective: 5-3 Topic: New Trade Theory 127. (p. 181) Describe what is meant by first-mover advantages. First-mover advantages are the economic and strategic advantages that accrue to early entrants into an industry. The ability to capture scale economies ahead of later entrants, and thus benefit from a lower cost structure, is an important first-mover advantage.New trade the ory argues that for those products where economies of scale are significant and represent a substantial proportion of world demand, the first movers in an industry can gain a scale-based cost advantage that later entrants find almost impossible to match. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-3 Topic: New Trade Theory 128. (p. 184) Identify and describe the four attributes advanced by Porter. What did Porter conclude from his analysis? The four attributes identified by Porter are as follows:Factor Endowments: A nation's position in factors of production such as skilled labor or the infrastructure necessary to compete in a given industry. Demand Conditions: The nature of home demand for the industry's product or service. Relating and Supporting Industries: The presence or absence in a nation of supplier industries and related industries that are internationally competitive. Firm Strategy, Structure, and Rivalry: The conditions in the nat ion governing how companies are created, organized, and managed and the nature of domestic rivalry.Porter speaks of these four attributes as constituting the diamond. He argues that firms are most likely to succeed in industries or industry segments where the diamond is most favorable. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-2 Topic: National Competitive Advantage: Porter's Diamond 129. (p. 188) How does Porter's theory predict patterns in international trade? If Porter is correct, we would expect his model to predict the pattern of international trade that we observe in the real world.Countries should be exporting products from those industries where all four components of the diamond are favorable, while importing in those areas where the components are not favorable. Is he correct? We simply do not know. Porter's theory has not been subjected to detailed empirical testing. Much about the theory rings true, but the same can be said for the new trade theory, the theory of comparative advantage, and the Heckscher-Ohlin theory. It may be that each of these theories, which complement each other, explains something about the pattern of international trade.AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-4 Topic: National Competitive Advantage: Porter's Diamond 130. (p. 190) What does Porter's theory mention about policy implications? Porter's theory of national competitive advantage also contains policy implications. Porter's theory suggests that it is in the best interest of business for a firm to invest in upgrading advanced factors of production; for example, to invest in better training for its employees and to increase its commitment to research and development.It is also in the best interests of business to lobby the government to adopt policies that have a favorable impact on each component of the national diamond. Thus, according to Porter, businesses should urge government to increase investment in education, infrastructure, and basic research and to adopt policies that promote strong competition within domestic markets. AACSB: Reflective thinking BT: Comprehension Difficulty: Medium Learning Objective: 5-5 Topic: Focus on Managerial Implications