Sunday, January 26, 2020

Fluctuating Prices and Declining Income of Farmers

Fluctuating Prices and Declining Income of Farmers INTRODUCTION Farming is the growing of crops and the rearing of animals. Major agricultural products include; fish, cereals, cattle, vegetables, oilseed, poultry, potatoes, sheep. Farming contributed  £5.6 billion to the UK economy in 2006. In the last 25 years, farming in Britain has transformed a lot. Farming provided employment for quite a number of people, but nowadays, with the help of machinery and equipment, and the problems associated with farming, only a few people remain on the farm. The total labour force employed in agriculture in the UK is 541,000, of whom 190,000 are employees and the remaining 351,000 are self-employed farmers, partners, directors and spouses. Overall, 1.8% of the UKs workforce is directly employed in farming .The UK food chain accounts for almost 8% of the total economy (RuSource, 2008). However, farmers have always faced problems such as Increasing population growth, water logging and salinity, converting the arable land into non-agricultural uses, high cost of production, fluctuating prices, declining income, increased tax etc. But this article will focus mainly on why farmers have been facing fluctuating prices and declining income over the years. PRICE AND AGRICULTURE Price is the amount of money needed to purchase something or the quantity of payment or compensation for something. A price fluctuation is a change in the price market. Agricultural experts and businesspeople have blamed fluctuating commodity prices, difficult capital accesses and poor development of downstream industries for poor performance of the countrys agricultural industry. Some of the causes of price fluctuations in agriculture includes; seasonal change in supply which is adversely affected by natural or climatic factors, lack of finance, use of crude implements, seasonal shortage of demand, etc. The market structure of a farm which is perfect competition also affects the price. The market structure is such that the farmer cannot influence the price. The price is determined purely by the forces of demand and supply. According to PT Perkebunan Nusantara (PTPN) IV executive director Dahlan Harahap,   fluctuating prices influenced the agricultural industrys performances because most of the companies relied on their revenues on exports. Several major commodities which are mostly exported include crude palm oil (CPO) (77 percent exported), rubber (83 percent), cacao (86) and coffee (70). INCOME AND AGRICULTURE Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, income is the sum of all the wages, salaries, profits, interest payments, rents and other forms of earnings received in a given period of time. For firms, income generally refers to net-profit: what remains of revenue after expenses have been subtracted. Farmers have faced declining income over the years due to high cost of production and low return to investment. According to Dahlan, high bank interest is one of the factors impeding the countrys agricultural industry. Indonesia, he added, sets the highest bank interest rate in Southeast Asia. This however affects farmers income. UK farming incomes are defined at the industry level by a measure known as Total Income from Farming (TIFF) and at the farm level by a measure known as Net Farm Income. Both measures have exhibited long term decline since the 1960s, reaching a low point in 2000 with average Net Farm Income at just  £8700. Governments of many countries have felt it expedient to intervene in agricultural markets, and have resorted to different forms of controls and subsidies. These have often led to the accumulation of vast surpluses, which have sometimes rotted in storage and sometimes been sold abroad at subsidized prices. The theory of demand and supply can be used to understand why farmers face fluctuating price and declining since Price is a reflection of supply and demand. DEMAND AND SUPPLY IN AGRICULTURE The agricultural sector is a very unique sector in economics because it displays characteristics in terms of the demand for and the supply of its goods not seen in any other sector. The principal characteristics of demand are that it is both income and price inelastic and it has high dependency on population and tastes which cause demand to be static in both the short and the long run. On the other hand supply is very volatile in the short run due to extraneous factors because supply is a biological process though in the long run due to technological advances we tend to observe an increasing trend. Also, because agricultural products are perishable and because the production period is long, supply will be inelastic so producers will have to supply in the short run even at very low prices. Another characteristic of supply is its atomistic structure and asset fixity. These basically imply that there will be a large number of insignificant producers and that most agricultural asset will be fixed. These have various implications for prices which are very unstable in the short run and in the long run present a declining trend. Similarly farm incomes tend to be unstable in the short run and converge in the long run though it must be noted that this is also due to extensive government subsidisation of agriculture. DEMAND Demand  refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a good that a consumer is willing and able to buy at a given price over a given period of time. Demand curve is a graph showing the relationship between the price of a good and the quantity of the good demanded over a given time period. Price is measured on the vertical axis; quantity demanded is measured on the horizontal axis The law of demand states that the quantity of a good demanded per period of time will fall as price rises and will rise as price falls, other things being equal (ceteris paribus). Demand on price and income According to Richard and Chrystal (2007); Agricultural production is subject to large variations resulting from factors that are beyond human control. For example, bad weather reduces output below that planned by farmers while exceptionally good weather pushes output above planned levels. Inelastic demand De E Elastic demand D1 Price Inelastic demand P0 Elastic demand Quantity 0 q1 q0 q3 Unplanned changes in output . Figure 3.1 Unplanned fluctuations in output (Richard and Chrystal 2007) Because farm products often have inelastic demands, large price fluctuations causes unplanned changes in production which in turn affects farmers income. Stabilization of agricultural prices: Farmers are allowed to sell their whole crop each year. When production unexpectedly exceeds normal output, the government buys in the market. It allows price to fall, but only by the same proportion that production has increased. When production unexpectedly falls short of normal output, the government enters the market and sells some of its stocks. It allows price to rise, but only by the same proportion that production has fallen below normal. Thus, as farmers encounter unplanned fluctuations in their output, they encounter exactly offsetting fluctuations in prices, so that their revenues are stabilized. In effect, the government has converted the elasticity of demand from being inelastic to being unitary. With a unit elasticity the total revenue of sellers does not change as quantity changes, because given percentage changes in quantity are offset by equal percentage changes of price but in the opposite direction. Figure 3.2 Income stabilization (Richard and Chrystal 2007) Income stabilization is achieved by allowing prices to fluctuate in inverse proportion to output Appropriate government intervention in agricultural markets can reduce price fluctuations and stabilize producers revenues.

Saturday, January 18, 2020

Ethical Business Dilema

Ethical Dilemma Analysis through the 8 questions model by Arthur Dobrin Case 1 – Rental Applicant 1. Facts †¢African-American applicant †¢Stable work history †¢More than enough income to cover the rent †¢Good references from their previous landlord †¢A couple with one young son (Family) †¢Before applicants accepted, rental agent should have done a background check as a standard procedure. 2. Facts we don’t know †¢Verifications of facts – conduct a cross check oWhether or not the facts provided by the applicant are true ? Income – Salary Statement ?References from landlord – Written letter/call Work History – Stable/Unstable work experience †¢Applicants behavior/habit – past rental history oWhether or not they like to break lease or skip town – leave an unpaid rent †¢The reason for postponing the application oWhat does Kate mean by saying â€Å"in my experience†Ã¢â‚¬ ¦ whether i t’s actually because of her experience dealing with application or racial discrimination. 3. Facts Interpretation †¢Stable work history ? stable – whether they have work long time or not (cross-check credential) †¢A family more likely to be more settled in one place compare to single status individual. A good reference from previous landlord means that the applicant has a good record of being a good tenant. †¢Have more than enough income means that the applicant has the capability to fulfill its obligation of paying the rent. 4. Walk in another’s shoes (problem viewed from others that involved) †¢Kate might give a stereotype view of the African-American applicant 5. Consequences †¢If we don’t take them : oWe might lose a good tenant oWe might lose our business opportunity oWe might build a strict image to prospective customer †¢If we take them : oThere’s a possibility that we end up having a default rent 6. Feelings †¢Megan Perspective : â€Å"Look very good† for their application †¢Kate Perspective : â€Å"Don’t rush their application† – having negative perception †¢Our Perspective : According to our feeling and in combination with the facts given (provided it is true), plus we can also try to determine based on the intuition from the body language given by the applicant, most likely we will accept the applicant. 7. Conscience †¢Yes ? Provided the documents are true. †¢No ? Provided the documents are false. Verification whether the documents are true or false can be done by cross-checking the credential and/or validating the facts. . Explanation and Justification †¢In making decision, it should not be based on personal needs/views or simply intuition/feelings, it should also be based on neutral judgment from the facts given and validation. Given the normal standard procedure that needs to be fulfilled from the background check o f the applicant and by checking thoroughly throughout the facts, the rental agents should be able to make a decision. Case 2 – Sabotage: Menu Not serving the interest of customers fully (by pushing other menu instead). By using healthy food as a bait strategy to attract customers, according to ‘Dave’. . Facts †¢Food is healthy, but the quantity is limited. †¢Coming up with a new menu. †¢Huge expenditure on advertisement. 2. Facts we don’t know †¢Whether the food which is ‘healthy’ is actually healthy. †¢Assumption whether this strategy will last for a long time. †¢Whether or not people will buy fast food even though the menu is being pushed. 3. Facts Interpretation †¢New ‘healthy’ menu was launched by the company to response the public pressure for healthier lunch choices, thus by having new menu, many money involved to train and advertise the new menu. New menu launched priced lower to bring new customers, thus there will be an effect on the company’s profit. †¢The objective of the business is to make money for the shareholders, thus the business need to make profit. Hence, most likely agency problem would occur, which refers to the ethical dilemma between the shareholder interest and the CEO interest. †¢Dave, the store manager, wanted the staff to push the ‘upsize’ menu options and ice creams for dessert, which this refers to an issue of sabotage. 4. Walk in another’s shoes (problem viewed from others that involved) †¢According to Carol, the manager is more inclined towards his own profit. According to Dave it is fast to maximize the profit and his own commission. †¢According to customer, they might be cheated into buying unhealthy food. 5. Consequences †¢By agreeing to Dave, the profit might be higher in the short term, whereas by going against Dave, the company might lose out on the profit. But by keeping the reputatio n of the company, it will help in the long-term profitability. †¢She might lose her own position if she does not agree to Dave plan. †¢But if she doesn’t want to lose her job, then most likely she will have her personal issue. 6. Feelings If she agrees to Dave, she will be safe, but if she goes against him, she might lose her job. (personal dilemmas) 7. Conscience †¢In order to save the job, Carol might let her inner conscience take the back seat, because this is cognitive resonance within herself. Her decision will be based on how she feels, whether it is good or bad. 8. Explanation and Justification †¢If ‘yes’, she can say that her boss asked her to do so. †¢If she says ‘no’, she can say her inner conscience didn’t allow her and in the long run, it won’t be beneficial to the consumer and the company.

Friday, January 10, 2020

Understanding Essay Topics for College Application

Understanding Essay Topics for College Application A provider is likely to provide some money either to support the arts or to defend the environment. Since it's so big different businesses also depend on them. As you're selecting a writer, you may use the spare time to study. If you'll include details that could directly hit the requirements of the school, then it is easy to get the approvalA that you must be accepted for enrollment. You're a college student talking to best parents who are worried about whether you're application enough. Imagine you're soon to develop into a parent. Essay Topics for College Application Fundamentals Explained Following that, you're analyze that content to determine what aspects ensure it is perfect. Since you can see, a number of the topics listed are new and handle the present issues happening in the World today. So, the choice of the topic is very important. Write freely topics select a prompt later. You have to spend a certain sum of time sitting in the library or surfing the internet so as to locate some helpful data for your academic paper. Safety and anonymity When you purchase an essay from us, you don't need to fret about your privacy. There are lots of solutions to your essay writing needs on the web but some are much better than others. Clearly, a fraud essays help service doesn't want you to have a chance to reach them after being robbed. Vital Pieces of Essay Topics for College Application Face-to-face communication is much better than other kinds of communication, including letters, E-mail, or telephone calls. Don't forget to make abstract claims concrete, or so the reader knows just what you mean. Even then you're unable to discover the informative and accurate details. If you'd like, you can application on one definite subject. Essay Topics for College Application: No Longer a Mystery The essay writing must be carried out in a well-planned and structured wa y. The rules for writing a superb essay are not any different. Our writers always create unique content that's absolutely free from all grammatical error. The author proceeds to impress us with her accomplishments at a youthful age through the facts of her story. Superior writing is about using concrete examples. It's very valuable to take writing apart so as to see just the way that it accomplishes its objectives. Bear in mind, however, that it's rarely a fantastic concept to emulate somebody else's topic or writing style. No cost amendments As the ideal essay writing service, we would like you to feel absolutely happy about your purchase. The Unexpected Truth About Essay Topics for College Application Low rates, nice discounts There isn't any need to devote all your savings, when you pay for essay. There are a couple of points, which can help you to recognize a business to keep away from. Ballots without a paper trail ought to be banned. The very best thing about us is that each time you can buy original essay papers for sale. Essays arrive in various types, and every one of them has a distinctive purpose that the student should concentrate on to earn a great essay. Or you are able to view 18 essays all on a single page. Stephen's essay is rather effective. Now, employing a sample college essay isn't the exact same as plagiarism. If it comes to write engineering essay for those students that are studying in electrical engineering school becomes confused since they are engineers and not the writers. Many college applicants make the error of attempting to include things like all their accomplishments and activities in their application essays. College is a time for students to concentrate on courses that are unique to the student's career targets. Upcoming college students might also be requested to compose a college essay for a portion of their first requirements. Bridget's essay is extremely strong, but there continue to be a couple little things that could be made better. Experienced and attentive When you seek the services of an expert essay writer at our service, you obtain an opportunity to cooperate with an individual, who has an unbelievable educational background. Utilize your essay to prove that you're thoughtful and mature, your personality has depth. The topic also needs to be the one which provides the students sufficient to write on. Everyone lets you know that the essay is the most significant area of the college application! Writing a college essay can arrive in various forms and styles based on your taste. Writing the college application essay can be among the most daunting elements of applying to college.

Wednesday, January 1, 2020

Analysis Of The Movie The Cooler Essay - 1830 Words

Introduction In the 2003 movie â€Å"The Cooler†, the main character, Bernie, is an extremely unlucky man whose job is to end the hot streaks of players at the Shangri-La Casino. Due to his contagious bad luck, he only needs to be present at the table to make the players around him lose. The film takes place in Las Vegas, presumably in the mid 1990’s meaning it takes place right around the fourth wave of Gambling, or the â€Å"Triumph of Casino Gaming† (McGowan 2012). The opening credits show the strip with newer buildings already erected, and matched the description given by Rothman, who described Las Vegas as vibrant, bright and well-developed by the beginning of 1990 (Rothman 2002). Shelly, the operations manager of the Shangri-La Casino, is struggling with the transition of the casino industry from mob to MBA. Larry, a young Harvard graduate, proposes to renovate and modernize the casino to Shelly, leaving him conflicted and nostalgic. Contrary to using typical casino i ncome strategies, Shelly relies on Bernie to cool off tables, thus generating revenue. Bernie wants to leave Las Vegas as he is sick of working at the casino and working for Shelly. He then falls in love with a coworker, Natalie resulting in his luck flipping from terrible to terrific. Bernie’s contagious good luck leads the gamblers in the casino to collectively win $1 million in one day. Losing profits to Bernie’s good luck, Shelly threatens Natalie into not seeing Bernie anymore. At the same time, the audienceShow MoreRelatedThe Women s Health Magazines1661 Words   |  7 PagesA close analysis of this Sketchers ad that appeared in several women’s health magazines in 2005 shows how thriving pathos can be used to persuade audiences into purchasing products. The ad demonstrates the way advertisers use ads to generate emotions that create audiences to feel that they require a certain product in their lives. 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