Market in Action

In: Business and Management

Submitted By yuntang
Words 1358
Pages 6
Markets in action
YUN TANG 43101418
Explain how do the price elasticity of demand and the price elasticity of supply impact magnitude of the impact from market intervention. Explain the reason and the method that government intervene the market price. Analysis the Chinese governments’ intervention and the unexpected outcomes on Chinese housing market in 2008 and 2010.
Price elasticity of demand Price elasticity of demand Chinese housing market Government intervention

There are various ways for the government to intervene the market and the major way is to fix the price ,not setting a minimum price or setting a maximum price. Once the government fix the market price, there will be some differences both in demand and supply. When the price of a good rises , the quantity demand will fall while the quantity supply will rise, and vice versa. The price elasticity of demand and the price of elasticity can interpret the impact magnitude of the impact from market intervention. The price elasticity of demand equals percentage change in quantity demanded divides percentage change in price. The price elasticity of demand equals percentage change in quantity demanded divides percentage change in price. If we just ignore the sign and just concern about the value , the price elasticity of demand and the price elasticity of supply(as a symbol ε) can be classified into three types. When ε >1, it is elastic. When ε <1, it is inelastic. When ε = 1,it is unit elastic. By using the difference of total consumer expenditure(TE) and the total revenue(TR), it can tell the impact magnitude of the impact from market intervention. TE = P × Q . When it is elastic demand, if the price rises, quantity falls proportionately more and therefore TE falls. If the price falls,…...

Similar Documents

Affirmative Action

...History of Affirmative Action Human Resources Research Paper BUSI 526 Section D October 30, 2010 Aurelia Mouton Abstract Affirmative action has a relatively short history in the United States. The idea of affirmative action begin to come into play in 1961 when politicians and Presidents alike believed that there needed to be a way to rectify the previous injustices dealt to the minority community in regards to workplace. The text mentions that affirmative action uses “numerical analysis to determine which (if any) target groups the firm is underutilizing relative to the relevant labor market” (Dessler, 2011, 60) and that affirmative action was put into place to eliminate barriers to equal employment. This may be true but from its’ very inception, affirmative action has been met with resistance. History of Affirmative Action Affirmative action has seemed to find its way into the lives of many. It was originally created to make employment opportunities and practices fair for people that were non-white U.S. citizens but has since grown and evolved into much more. The beginning concept of affirmative action was to make right the many years that African Americans were bound because of slavery, discrimination after the abolition of slavery and lack of education that prevented many of them from getting decent jobs. Many positive things can be said about affirmative action when it works; however there are many people that fight against it because......

Words: 1744 - Pages: 7

Affirmative Action

... THE HISTORY OF AFFRIMATIVE ACTION COLUMBIA COLLEGE Karla Reed Thomas Mae Hicks Jones, Instructor February 28, 2014 Abstract Affirmative action has been deemed as one of the most ground breaking accomplishments of the Civil Right Movement. Affirmative action has allowed a lot of children to be able to pursue dreams that they never thought would permissible. Racial discrimination has been an ever going trend here in the United States and in other countries for hundreds of years. Women and minorities are some of the leading people in this world who suffer the most from racial discrimination. By implementing affirmative action in all areas of our lives this world would come together and allow people to get to know people they wouldn’t have known because of the color division in this country. Students who are start at a disadvantage in school are given a boost to succeed with affirmative action. Affirmative action creates diversity in the workplace and in society. Affirmative action is needed to break stereotypes. Affirmative action is not reverse discrimination. A society can be color blind if they would learn how to base their decisions on character and not on color or gender. Affirmative action does not help a disqualified person move up in life if they do not have the skills need for the job they are doing. Introduction Racial discrimination has been around for thousands of years and the time came for some...

Words: 2047 - Pages: 9

Affirmative Action

...Human Resource Management Affirmative Action Business companies that are successful are the larger companies. These companies know how the competitive advantage works. They are smart in making sure their employees are happy and feel they are treated equal. These business companies know how to attract, select, deploy, and develop talent. People of different race, sex, and physical differences have their own talents they can contribute to a company and help make them successful. In the larger companies, affirmative action policies are implemented and the human resource department helps execute the tasks that need to be done to help lead a successful company. Affirmative action programs can help companies with a larger class of minorities than others. The results of implementing affirmative action might have some negative effects, but for the most case, the effects are positive. Affirmative action programs are a requirement of the OFCCP for employers that have federal contracts greater than $50,000. The biggest key in affirmative action programs are in compliance with the equal employment opportunity law. A company that has several problems with their employees, affirmative action must be implemented. The reason why to implement an affirmative action program is to reduce discrimination, achieve goals, show commitment to the company and also their employers. Downsides of affirmative action are it has not consistently resulted in the improvement status of protected...

Words: 714 - Pages: 3


...his or her actions and behaviors depending on the scenario or the type of situation at hand. Values are established and implanted in the early stages of life, but each individual person interprets his or her own values differently, and their actions and behaviors show how values are being perceived and displayed by the individual. People act off of their individual values that are embedded within them, and the actions and behaviors of individuals are a mere image reflection of his or her personal values. Dr. Pepper states “that diversity drives our success and helps us win in the marketplace” (Dr. Pepper, 2012). That is why Wal-Mart is such a number one leading diverse company that keeps growing and expanding services worldwide. The ability to analyze the alignment between personal values, actions and behaviors is being able to achieve the understanding of values and how it leads one actions and behaviors. Individual values that demonstrate positive attitude, positive thinking, and wanting to positively achieve established goals leads to positive actions, behaviors and outcomes. Wal-Mart core values are incorporated into the culture and belief of the company which is to provide service to customers, respect for all individuals, continue to strive for excellence, and always act with integrity. Wal-Mart continues to promote values positively through the employees that work for the company because it builds a bond, a stronger company, promotes positive behavior, actions,......

Words: 307 - Pages: 2


...Action Verb List - English Use action verbs when listing your relevant job experiences. Think ACCOMPLISHMENTS not DUTIES Ex: Conceptualized and implemented an after school program for children ages 1 through 6. MANAGEMENT SKILLS HELPING SKILLS TEACHING SKILLS CREATIVE SKILLS CLERICAL SKILLS COMMUNICATION SKILLS accomplished achieved administered analyzed approved attained chaired completed concluded contracted consolidated consulted coordinated delegated determined developed directed ensured established evaluated executed improved initiated increased led managed marketed minimized organized oversaw planned performed presented prioritized produced recommended recruited reviewed scheduled supervised tested assessed assisted clarified coached counseled demonstrated diagnosed educated encouraged expedited facilitated familiarized guided protected referred rehabilitated represented RESEARCH SKILLS clarified collected conducted critiqued diagnosed evaluated examined gathered generated identified inspected interpreted interviewed investigated measured obtained organized researched reviewed selected summarized surveyed systematized tracked adapted advised animated clarified coached communicated coordinated demonstrated developed enabled encouraged evaluated explained facilitated guided informed initiated instructed persuaded served set goals stimulated TECHNICAL SKILLS acted conceptualized created designed developed directed established fashioned founded......

Words: 585 - Pages: 3

Nike in the Action Sports Market

...Nike in the Action Sports Market The action sports industry serves a niche market. Only in recent years have action sports become mainstream and their athletes widely recognized. Similar to the music industry, it has been challenging to market to this “underground” demographic, as retailers seek profit, while consumers seek scarce products. Skaters, snowboarders, bikers, etc. desire one-of-a-kind or limited-edition active wear that can only be found at local shops. Much like music moguls want to be the first to hear new music, action sports athletes want to be among the first and the few to own specialized sports gear. This is where Nike has faced its greatest challenge—balancing the company’s desire to make a profit with the target market’s desire to remain “niche” or “underground.” Though Nike has been in the action sports industry for nearly 10 years now, it has only seen success in the market recently. Nike’s early attempts to enter the market were scoffed by counter-campaigns such as one competitor’s “Don’t Do It” slogan. Nike’s early attempts to make action sports shoes failed, in part because the brand was seen as “too corporate” for the underground lifestyle of athletes, and because the shoes lacked the quality athletes desired. Nike nearly offended the industry with patronizing commercials back in the 1990s, another failed attempt to reach the demographic. Nike needed to realize that they weren’t just selling shoes; they were selling a lifestyle,......

Words: 735 - Pages: 3

Affirmative Action

...Counter arguments, Disproving other side, Con affirmative action Affirmative Action has been a long debated issue in United States. One group believes affirmative action should be abolished and other group thinks it serves an essential purpose. Our group believes Affirmative Action is fair and we still need it to eliminate discrimination and establish inequality to make our country is a better place. The continued use of affirmative action is still needed to address our existing discrimination and to break down all the barriers to make sure each individual have an equal opportunity so that they can prove themselves in the society as per their talents and abilities. Compare to other countries United States have made significant progress in recent years in creating equal access to opportunity, but we still need to accomplish more. Affirmative action worked as a proven solution that had been addressing existing discrimination and promoting equal opportunity. Ending affirmative action would end the dreams of opportunity for many. “The fundamental purpose of affirmative action is to further equal opportunity and counter or prevent current discrimination. Importantly, affirmative action programs have a positive impact not only on women and people of color, but all members of our society”. This program ensures equality and provides opportunity to many women, people of color, disabled, and veterans. It is a path where they can compete and be evaluated fairly for jobs and......

Words: 1399 - Pages: 6

Government Action

...Effects of government action This chapter provides the following information in regards to how governments influence the economy. In it, we will look into depth about price ceilings and floors, and how they affect the markets. As well as price supports in agriculture. Then we will look at discussion on taxes, from income tax to fairness and tradeoff. When we reviewed price ceilings, it particularly discussed rent ceilings. Rent ceilings are a regulation that makes it illegal to charge more than a specified rent for housing. So if a rent ceiling was set above the equilibrium price, it wouldn’t do much because people are already paying that price range. But when it is below the equilibrium price, which is when there are very extreme effects. So with a rent ceiling is below, you will begin to have housing shortages, which in turn opens up black markets, and increases search activities. So the question of rent ceiling efficiency is answered, if there were no ceilings, then the market forces would determine its own equilibrium rent, thus the quantity demanded would equal supplied. But with a rent ceiling in place, the outcome would be inefficient as the marginal benefit would exceed marginal cost, and deadweight loss arises. We move on to price floors, where government regulation places a lower limit on which a particular good or service may be traded. Anything lower would be illegal. A good example provided in this chapter is the minimum wage law. The whole aim is to......

Words: 697 - Pages: 3

Affirmative Action

...Affirmative Action Julia Samsa The History of Affirmative Action: Landmark Cases and Legislation Affirmative action refers to policies designed to increase the presence of “underrepresented” demographic groups-such as racial or ethnic minorities and women-in specific sectors of the workforce or in the student bodies of American universities (Affirmative Action, 2010). Affirmative action policies are founded on the premise that any observed imbalance in a given workforce or student body is due, either wholly or in part, to past and/or present discrimination-the remedy for which consists of compensatory preferences in favor of the underrepresented group(s). These measures most commonly take the form of lowered standards for the hiring, promotion, or admission of members of the preferred groups and set-asides which reserve or earmark a designated percentage of slots for members of the preferred group. Historically, the origins of affirmative action were subtle and incremental. The term “affirmative action” was first introduced to the nation by President John F. Kennedy in March 1961. The President signed Executive Order 10925 which established the President’s Commission on Equal Employment Opportunity (Magee, 2011). By this order, any business working under a federal government contract must take affirmative action in hiring and not discriminate on the basis of race, creed, color, or national origin (Wilcher, 2006). JFK’s order did not advocate for the preferential......

Words: 3125 - Pages: 13


...WHAT IS ACTION PLANNING?   You've got to be very careful if you don't know where you are going because you might not get there.  Yogi Berra Action planning is a process which will help you to focus your ideas and to decide what steps you need to take to achieve particular goals that you may have. It is a statement of what you want to achieve over a given period of time. Preparing an action plan is a good way to help you to reach your objectives in life: don't worry about the future, start planning for it! It involves: * Identifying your objectives * Setting objectives which are achievable & measurable. * Prioritising your tasks effectively. * Identifying the steps needed to achieve your goals. * Using lists. * Being able to work effectively under pressure. * Completing work to a deadline. * Having a contingency plan   Click on any of the boxes in the chart above to take you to the relevant part of this page/other related pages or click here for a larger version of the chart. Writing down your goals turns them into a plan, not a dream. A study of 327 job seekers by Daniel Turban of University of Missouri College of Business found that writing a plan at the start of your job search, has a big impact on success: make a plan and continuously assess your progress."Thinking about a plan, acting on a plan and reflecting upon that a plan were important early in the job search while having positive emotions were important later in the job......

Words: 3140 - Pages: 13

Affirmative Action

...Using research references written by Dawn D. Bennett-Alexander, Laura P. Hartman, Raina Kelley, Brian Lilley and Jonathan Stempel, I examined the results of their findings in relation to my project. Based on their information, I determined affirmative action is still an instrumental tool in balancing the work force in the United States. There are still jobs that are out of reach for certain minority groups. As long as this imbalance exists so does the need for affirmative action. Do We Need Affirmative Action? Is affirmative action still needed in today’s society? Some people do not think so; others do. I believe affirmative action is still necessary as long as a minority group of people (Blacks, Hispanics, Women, etc.) attempting to acquire jobs in certain markets believes they are not getting those jobs because they are being discriminated against by the majority group that holds them. I will attempt to present some sources to reinforce my conclusion. I will discuss the original purpose of affirmative action and present some cases being discussed or ruled on in present day courts. I hope to show that affirmative action expands opportunity by promoting inclusion of underrepresented minorities in all areas of the job market and it is not intended to take jobs away from those in the majority. Its Purpose I’ve been in the military since 1987. The military has a zero tolerance rule for any type of discrimination and it’s strictly enforced from the top officer......

Words: 1597 - Pages: 7

Action Plan

...Action Plan The Cuka Cooler will be introduced in February. The following are the action plan that we will use during the first six months after the Cuka Cooler introduced. -January. We will launch a free tasting program over Hong Kong on mid-January to late-January. We will set up 3 fixed tasting stations on Central, Causeway Bay and Monk Kok. Six free tasting stations near the MTR stations, super shopping malls and main streets. We will change the station location day by day. We will give a bottle (480ml) of Cuka Cooler for free to the people, emphasize that new products will be introduced in February. Also, we will start the advertisement on TVB HD Jade every night between 20:35-22:55 with a 15 seconds advisement to promote our new product--- Cuka Cooler. For the advertisement, we will have two TV ads with different icon. One is Pakho Chau, a famous singer, who helps us to get in to the teenager market. Another one is Wayne Lai(黎耀祥), who we use to be a tool to helps Cuka Cooler to get into the adult market. It will cost us $ 150,390 and 500,000 for the salary for these two stars. The 15 seconds TV ad will last for two months, starting from late- January. -February. Cuka Cooler starts to get in the markets. We will continue the TV advertising program on TVB HD Jade with TVB “Kung Hei Fat Choy” Greetings Package. Cost us $ $256,000 Moreover, in order to get deeper in the market, we will start the advertisement on HKTV, where the advertisement cost is cheaper than......

Words: 732 - Pages: 3

Reasoned Action

...consumers’ behavioral intentions? (Use the Theory of Reasoned Action to guide your thinking and your answer.) This is a review and application question with a web exercise. Fishbein and Ajzen’s Theory of Reasoned Action is a powerful model for analyzing and understanding the factors that influence voluntary, overt behaviors. Students need to understand the basic components of the model and the logic that underlies their interrelationships. Exhibit 6.6 in the text clearly presents the major components of the model and their interrelationships. Students should be able to discuss these "flows of influence." The theory of reasoned action identifies two main influences on behavioral intentions--Aact and SN that is attitudes toward the action and subjective norms. Different promotional strategies, such as those used by The Gap, can try to change consumers’ attitudes and/or their subjective norms. For instance, if the weak BI is due to negative attitudes toward purchasing clothing from The Gap, advertising needs to focus on the specific negative beliefs about the consequences of buying and using the product. Alternatively, The Gap could try to use social influences to impact subjective norms by communicating social acceptability by wearing clothing from The Gap. 7. Use the example of “The Gap” to distinguish between the multi-attribute attitude model and the theory of reasoned action. How could each model contribute to the development of......

Words: 588 - Pages: 3

Leadership Actions

...Leadership Actions Introduction The first phase or the starting up of a new project in the life cycle of project management is the initiation phase. This is where the new project has definition…definition of its objectives, scope, purpose and deliverables to be produced. This is the most crucial phase because of the scope and hiring of a project team because only with a clearly defined scope and a suitably skilled team, can you ensure successful project. This is also the point of hiring the project team, setting up the project office and reviewing the project to gain approval so the next phase can begin (Project initiation phase, 2003). This paper will outline categories of project leadership tasks and present examples of actions/considerations for each category that needs to be performed and explanations of why the action is critical to initiating the project. In addition, this paper will apply the Ned Herrmann Model of thinking styles and describe the type of thinking style that would best fit with the delegated individual. Outline the categories of project leadership tasks and provide an example of actions and considerations for each category that would need to be performed. For each example, explain why the action is critical to initiating the project. The Initiation phase is the conceptualization point in the project or the project’s reason for being (Project management guideline, 2006). There are seven categories of project leader......

Words: 2571 - Pages: 11

Affirmative Action

...Affirmative Action Term Paper Abstract Human Resource Management is one the most important aspects of a company. Its successful implementation is crucial for an organization being able to thrive. Human Resource Professionals handle areas such as employment, recruitment and selection, performance and evaluation, compensation and benefits, personal professional development, safety and health forecasting and labor relations. This paper will focus on the topic of Affirmative Action and its policies which is an important aspect of Human Resource Management. Without its inclusion, companies would not be able to be successful the way they are today. Discriminatory beliefs were overturned by policies of Affirmative Action. Diversity such as race, color, religion, gender and national origin are now contributing to an organizations success rate in the race for market dominance. This paper is structured into an historical overview of Affirmative Action, its advantages and disadvantages and the future of Human Resources in regards to Affirmative Action. Introduction People have always been an important part of an organization. However it is important not just to value such an important asset but also develop and improve it. This is the job of the Human Resource Department. It manages an organization's workforce. The responsibility of the Human Resource Department is the attraction, selection, training, assessment, and rewarding of employees, as well as overseeing......

Words: 2210 - Pages: 9