The Market for Alcoholic Beverages, Questions and Answers

2 Questions to address: a) What do we know about the demand for alcohol, and how is this relevant to policy makers wishing to curb consumption? b) What can you determine about the supply of alcoholic beverages (in terms of industry structure)? How might individual firms hope to get ahead in this market? c) Explain, using diagrams, how individual producers in this industry might be affected by the price floor implemented in Scotland. What determines the extent to which they are affected? d) Why do you think the policy makers have opted for a price floor over a tax? The Market for Alcoholic Beverages It is stated in The Economist print edition (2013) that according to World Health Organization, â€Å"the global consumption of alcohol has been†¦show more content†¦If the firm sells more than Qo of beers, the profit will fall. Thus profit for the beer firm is area price P profit, B, C and P1 (shown in Figure 1.2b). We can get the value by getting Qo multiplied by difference in P profit and P1 (Profit = [P-ATC] x Q). In a long run, the beer firm can charge price higher than Average Total Cost and make profit. But certainly this will attract new firms to enter beer market (Hubbard et al. 5 2012). Therefore demand and MR will shift as new firms enter causing the first beer firm to break even. To avoid losing profits, Hubbard et al. (2012) indicate that firms need to convince customers that their product is indeed different through marketing. Scottish parliament imposed a price floor of 50 pence on hard liquor in May 2012. Price floor is â€Å"a legally determined minimum price that sellers may receive† (Hubbard et al. 2012). Figure 1.3 represents alcohol market when price floor is applied. Before price floor, area ABD was consumer surplus and area CE was producer surplus. As soon as price floor is inflicted, area B from consumer surplus is transferred to producers and area DE will become a Deadweight Loss. There is a deadweight loss because price floor has reduced the sum of consumer and producer surplus. Likewise, the price floor has caused the MB to become bigger than MC. In other words price floor will reduce economic efficiency (Hubbard et al. 2012). The extent where a firm is affected can be determined from theShow MoreRelatedOn-going Issues in the Anti-dumping Investigation911 Words   |  4 Pagesto the answer of Mr. Joseph Bosh , an officer of communication office of WTO whether the WTO has a purpose to reform the new definition of the like product which stated in article 2.6 of anti-dumping agreement, the answer was yes, he did agree that the definition for the time being is vague and ambiguous, so WTO has included about this issue in ongoing Doha round. 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Supplemental Nutrition Assistance Program ( Snap )...

Supplemental Nutrition Assistance Program (SNAP) formerly known as the Food Stamp Program was created in 1964 by President Johnson. In order to get rid of the stigma that the name had, a law was passed changing its name to SNAP in late 20008. The purpose of the program is to help low income individuals and families by providing economic benefits to communities. SNAP is considered to be one of the largest program in domestic hunger safety net. Another popular program is the Community Food Projects (CFP) competitive grants. CFP was created 20 years in 1996; its sole purpose has been to fight food insecurity, which means people have had a consistent lack of access to adequate food by the lack of money they have. When it came to organizations and programs like these I always wondered how long does the benefits last are there any stipulations like there is when you apply for things like FASFA or scholarships? This paper will examine the start of each organization and the progress it has made since the start of it. The term safety net as is it’s referred to in this context means to catch America if they fall on hard times or any program that provides assistance to individuals or families. Like every great idea there is always a downfall to when that idea is no longer great. To me as a minority food stamps isn’t a foreign word; majority of my family are either on or use to be on food stamps. FSP is administered by the USDA and the amount of welfare you receive isShow MoreRelatedThe Food Stamp Program And The Supplemental Nutrition Assistance Program1161 Words   |  5 PagesFormerly known as the Food Stamp Program (FSP), The Supplemental Nutrition Assistance Program (SNAP) is the largest federal nutrition-assistance program and exists to protect low-income Americans from hunger and its associated consequences by increasing access to food. 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The Fundamentals of Entrepreneurship DB Free Essays

My view of entrepreneurship is that you don’t need to have exceptional skills to be successful when you decide to start a business. All one needs to have is the desire to work in order to achieve his goals. According to my understanding of the word entrepreneur, it is a French word which means to undertake, so in business it is to start a business. We will write a custom essay sample on The Fundamentals of Entrepreneurship DB or any similar topic only for you Order Now To say that you must have superior qualities that a few have in order to be an entrepreneur is not only far fetched but also erroneous, I simply don’t agree with that kind of thought. Strategic planning is a direction or strategy that a business is going to follow in certain period of time. It is so important to a small business in because it keeps it on the edge of competition with big companies. A business with no strategy has no direction. Strategy outlines the direction of the business. Without a strategy it is difficult to achieve goals in a business and small businesses therefore ought to formulate viable strategies that can cope with competition and at the same time make the business focused in scope. To me strategic planning is a process that does not only requires good management skills but also it requires the will and commitment by all persons involved in order to attain the set goals. (McDonald, 2001) There are several factors that an entrepreneur should consider before choosing any form of ownership. There are: The risks involved which are normally high in entrepreneurship, purpose of the business, its goals, strategies for achieving each goal, a plan to implement each goal and the way of monitoring the implementation plan. Other   factors includes the influence one have in the running of the   business and one must also know the responsibility for debts, the amount of   tax payable to the government and the county or the local government, one must also know the   government policies of that particular business. A person must also consider the amount of profit to expect and the time he or she spends on that business. I disagree with educators who thinks that student in colleges should not engage in business, this is simply because the students engage in this for they have been taught its fundamentals and they cannot wait to put them in practice. Once students get the desired knowledge they become innovative and hence they cannot wait to test their skills as entrepreneurs. Research indicates that entrepreneurship should include innovations such as; new products, new production methods, new markets and new types of business among other innovations. In my own perspective wealth is created when such innovations are utilized since it results in new demand of commodities. The purpose of an entrepreneur is to build a lucrative, moral, and a sustainable business organization. I am of the opinion that one must adhere to factors such as: 1. Profitable business practices that satisfies and attract new customers, pay employees fairly and rewards innovation and diligence.2.Ethical business practices that include the protection the privacy of the clients and employee financial and personal information, to respect ethnic, political and religious backgrounds of the customers.3.Sustainable business practices that can withstand the dynamics of the world, these involves establishing markets not exploiting them, doing away with abusive working conditions and keeping   basic labor rights, replacing non-renewable energy sources with renewable energy sources, encouraging developing countries to improve labor and environmental standards amongst suppliers. (Cullen and Boteeah, 2005) Reference Cullen, J. and Boteeah, K. (2005) Multinational Management: A strategic Approach: 3rd Edition: Thomson South-Western; Mason McDonald, M. (2001): Marketing Plans: How to Prepare Them, How to Use Them. 4th Edition: London, Butterworth Heinenamm          How to cite The Fundamentals of Entrepreneurship DB, Essay examples

The Circulation Of Fake News In Election Campaigns †Free Samples

Question: Discuss about the Circulation Of Fake News In Election Campaigns. Answer: Introduction Fake news websites are generally hoax that pretends to be legitimate. These websites are known for spreading rumours among public for seeking false interest. Fake news articles are one that are intentionally and verbally wrong in nature. The main purpose of the article is to mislead the readers. The case study focus on the news articles having political implication in US 2016 Elections. The case regarding the FBI agent suspected in Hilary email leaks found dead in apparent murder-suicide. The report focus on origination of satirical website produced during the elections. The defunct website wtoe5news.com stated that Pope Francis has endorsed Donald Trumps Presidency during the election. Most of the articles were satirical in nature but shared million times on Facebook. There were certain websites that were developed purely for fun during the election (Allcott Gentzkow, 2017). Fake News during USA 2016 election Fake news article originates on several websites. Some of the website is developed to spread the fake news among people. These sites are named exactly like the original websites in order to fool the readers. The 2016 US election has provided with an endless incidences that focus on the fake news. US company Disinfomedia owns many fake news sites. It includes NationalReport.net, USAToday.com.co, and WashingtonPost.com.co. Paul Horner, a USA based producer ran a winning fake news site called National Report for years. During the 2016 election, the producer published news supporting Trump (Kaplan Haenlein, 2010). This came out to be main reason for supporting fake news. The reason behind running the fake news is pecuniary. The purpose is to draw attention of the readers towards the news to go viral on social media. This has significantly helped in drawing significant advertising revenue. This came out to be one of the main reasons behind the motivation for most of the producers. The te enagers in Veles, produced stories favouring both Trump and Clinton helped then in earning ten thousand of dollars. Paul Horner produced pro-Trump stories for gaining profit claiming to be individually opposed to Trump (Borden Tew, 2007) .The other reason for spreading the motivation. These fake news providers look for advancing favour to their favourite candidate. There are few who started the fake news website to help Donald Trumps campaign. Additional providers of right-wing fake news in fact say they recognize as left-wing and sought after to humiliate those on the right by naively circulating the false stories (Brewer Marquardt, 2007). There are two possible unobserved slates of the world that most probably represents the candidates on the right and left side. Media channels do get the signal for publishing news. They publish the news after checking on the facts. Each and every media house has a reporting strategy to publish the news. They have an option either to publish the correct news or to issue one with bias (McBeth Clemons, 2011). Consumers do receive utility through the news; firstly they want to know the actual news and secondly they are looking for the psychological utility. Consumers do choose the news that serves their maximum utility. Producers of the fake news are the organization with two distinguishing characteristics. They do not make any such investment in accurate report. Moreover they are not concerned with the market reputation. The purpose is to generate maximum number of click on the news headlines to generate more views. This fake news has a potential to add certain level of social cost (Br ewer, Young Morreale, 2013). Consumers have become more sceptical of legitimate news producers. It has become difficult for the consumers to distinguish in between the fake and real news. These factors do have a potential to reinforced equilibrium by supply-side responses. In case of a reduced demand for high-precision, low-bias reporting will reduce the incentives. All these negative effects of the trade off against any welfare gain have a high impact on consumers who enjoy reading fake news. This forms to be an important part in managing the news (Walgrave, Lefevere Nuytemans, 2009). The theoretical concept related to the fake news and its implication in influencing People during the election. The fake news is circulated through the online channels. These channels are having a long lasting impact on the mind of the voter. There are certain instances where the reader is unable to distinguish in between the real and the fake news. Social media channels do have a long lasting impac t/ Most of the news that arrives through these platforms does not contain any amount of evidence. The social media channels are being used as a tool to spread the fake news (Reilly, 2012). Majority of social media platform is used to spread fake news. There is no proper source cited while publishing news. There is no proper link that provide with authentication of the news that is available on the website. In bringing a change it is important to understand the changes that can affect the election. It has a long-lasting impression on the mind of the readers. The news is gathered with an intention to attract reading. For the purpose of generating fake interest in people, the news channel is creating wide interest by generating interest (Bennett, 2016). It was reported during the US elections that there were 100 of fake Facebook accounts that are operated from US. These accounts were intended to create fake among people. The USA election has created a wide spread impression in the mind of people by running fake news throughout the day. The fake news ads are detected is relatively small. It is due to the external influencing factors in order to manage the excess pressure that is created due to the external interference. The important factor is related to the coordination in between the various factors that have a long lasting impact in the mind of the readers. This is important from the point of view of removing the long-term impact on the mind of the people. It is important from the point of view of developing better opportunities in order to deal with the factors that has been influencing the different factors. There are majority of fake news factories that has been influencing the election in many ways. It is through these news ch annels that the interest of people is been getting influenced. The factors are affecting the votes of people during the election. The interest of people largely depends upon the individual interest during the process of election. Google has admitted the circulation of such news that is affecting the election and interest of people. The search giant has found the people for managing the interest of parties in the election. Fake news has a long lasting impact on the mind of people. It is though the websites that the news channel is circulating fake news in order to influence interest of people. This has significantly helped in drawing significant advertising revenue. This came out to be one of the main reasons behind the motivation for most of the producers. One of the reasons behind the issue is due to the ineffective process that is attached with the election (Metaxas Mustafaraj, 2012). Conclusion At many times, there is fake news regarding any incidence during election campaign. Most of the news is circulated comes from a place that has certain level of interest. This is common in each and every country. Not just in USA, but there are other countries as well that see such incidences, this do affect the people with littler information about the incidence. Such incidences can only be reduced if general awareness is created. This will help in creating awareness about the right news. Such websites need to be checked timely. This will help in gaining long-term interest of the political party in managing election. This is however important for generating awareness in order to reduce the ill-effect of such incidences. They do not make any such investment in accurate report. Moreover they are not concerned with the market reputation. The purpose is to generate maximum number of click on the news headlines to generate more views. This fake news has a potential to add certain level of social cost. Countries are taking strict measure to control such incidences and therefore urging people to be smart enough while going through news. It is important from the point of view of reducing the aftermath of such incidences. However, it is necessary to provide support to different incidences in order to gain long term interest of people and the political party associated. References Allcott, H., Gentzkow, M. (2017).Social media and fake news in the 2016 election(No. w23089). National Bureau of Economic Research. Bennett, W. L. (2016).News: The politics of illusion. University of Chicago Press. Borden, S. L., Tew, C. (2007). The role of journalist and the performance of journalism: Ethical lessons from fake news (seriously).Journal of Mass Media Ethics,22(4), 300-314. Brewer, P. R., Marquardt, E. (2007). Mock news and democracy: analyzing The Daily Show.Atlantic Journal of Communication,15(4), 249-267. Brewer, P. R., Young, D. G., Morreale, M. (2013). The impact of real news about fake news: Intertextual processes and political satire.International Journal of Public Opinion Research,25(3), 323-343. Kaplan, A. M., Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media.Business horizons,53(1), 59-68. McBeth, M. K., Clemons, R. S. (2011). Is Fake News the Real News?.The Stewart/Colbert Effect: Essays on the Real Impacts of Fake News. Ed. Amarnath Amarasingam. Jefferson, NC: McFarland. Metaxas, P. T., Mustafaraj, E. (2012). Social media and the elections.Science,338(6106), 472-473. Reilly, I. (2012). Satirical fake news and/as American political discourse.The Journal of American Culture,35(3), 258-275. Walgrave, S., Lefevere, J., Nuytemans, M. (2009). Issue ownership stability and change: How political parties claim and maintain issues through media appearances.Political Communication,26(2), 153-172.