The Different Meanings and Uses of Economic Efficiency

The Different Meanings and Uses of Economic Efficiency Generally speaking, economic efficiency refers to a market outcome that is optimal for society. Â  In the context of welfare economics, an outcome that is economically efficient is one that maximizes the size of the economic value pie that a market creates for society. Â  In an economically efficient market outcome, there are no available Pareto improvements to be made, and the outcome satisfies what is known as the Kaldor-Hicks criterion. More specifically, economic efficiency is a term typically used in microeconomics when discussing production. Production of a unit of goods is considered to be economically efficient when that unit of goods is produced at the lowest possible cost. Economics by Parkin and Bade give a useful introduction to the difference between economic efficiency and technological efficiency: There are two concepts of efficiency: Technological efficiency occurs when it is not possible to increase output without increasing inputs. Economic efficiency occurs when the cost of producing a given output is as low as possible.Technological efficiency is an engineering matter. Given what is technologically feasible, something can or cannot be done. Economic efficiency depends on the prices of the factors of production. Something that is technologically efficient may not be economically efficient. But something that is economically efficient is always technologically efficient. A key point to understand is the idea that economic efficiency occurs when the cost of producing a given output is as low as possible. Theres a hidden assumption here, and that is the assumption that all else being equal. A change that lowers the quality of the good while at the same time lowers the cost of production does not increase economic efficiency. The concept of economic efficiency is only relevant when the quality of goods being produced is unchanged.

Merci Business Essays

Merci Business Essays Merci Business Essay Merci Business Essay A family business that started in 1995, with the trade name Merci, meaning Thank You in French. From its humble beginnings of being a small bakery, it has expanded from one Single store at Libertad Market to bakeshop with a fast food restaurant. It also has been supplying high quality, affordable breads and pastries around the city and the province to its satellite dealers. As the years, go by, there are a lot of branches already around the City and Negros Occidental due to high demand. Mercy makes quality breads THAT ARE PRICED AFFORDABLY for most people.WE also have specialty breads AND PASTRIES for those with VARYING tastes. Their BREADS PASTRY PRODUCTS ARE served at Merci Bakeshop outlets that also offer snacks and meals throughout the province of Negros Occidental. Inventory System Project in I. T. 5 Members: Alvin John M. Destua Gurly B. Jamero Jenjen P. Sobremesana Leah Mae R. Batillano Submitted To: Mr. Ricky M. Gustilo INTRODUCTION The Inventory Information System includes the records of all items and transactions. It involves all the related information of the certain items. This also records the transaction being held of the said company.The importance of Inventory Information System is to store a certain transaction without taking too much time. This automated information system gives accurate information. Objectives A good Inventory Information System can give an accurate record of a certain item in times of emergency. A computerized inventory information system can save the records of the items and keeping it safe to the storage. You can easily find the certain items if you use the Inventory System. To find the certain items in inventory information system you have to use their Item ID in order to find it easily.

Wayne Gretzky Research Paper Example | Topics and Well Written Essays - 1000 words

Wayne Gretzky - Research Paper Example Their father Walter would teach Wayne (and his brothers Keith, Brent and Glen and their friends) hockey in his home’s backyard in a rink he had made. They nicknamed the rink ‘Wally Coliseum’ and here they would skate around bottles and cans, flip pucks over scattered hockey sticks to be capable of picking up the puck again while in full flight. He advised them to skate where the puck was heading and not where it had been. Wayne would go on to join a team of ten year olds at age six, and thereby starting a trend that more often saw Wayne always playing against those older than him. His first coach, Dick Martin, observed that Wayne played better than the 10 year olds did (Morrison, 1999). By the age of ten, Wayne had scored 375 goals with 139 assists in a single season during his time with the Brantford Nadrofsky Steelers. Time went by and his game grew to attract media attention and his reputation beyond his hometown. However, with his meteoric ascent came jealousy from some quarters as he was often booed during games. By 13, he had managed over 1,000 goals. As a result of growing hostilities from his hometown and the desire from his parents to see him improve even further, he was moved to Toronto where he would play his hockey (McConnell, Terry, Pocklington, and Nye, 2009). In June 12 1978, Racers’ owner Nelson Skalbania signed the 17-year old Wayne on a seven year contract. Here, he scored his first professional goal against Dave Dryden of the Edmonton Oilers in his 5th game. His second goal came in relatively quick succession, barely four seconds later. However, many were still unconvinced of his ability. At 18, critics said he was too small, wiry and slow to make it in the NHL as he was conspicuously underweight at 160 pounds (73 kilograms) compared to the year’s NHL average of 189 pounds. In the following year, Wayne Gretzky silenced his critics by breaking

Portfolio Artifacts Assignment Example | Topics and Well Written Essays - 1250 words

Portfolio Artifacts - Assignment Example The presentation was careful to use a large font size of size 30 so as to ensure that the presentation will clearly be visible to an audience of that size. A key untapped potential of the program project is its expansion into offering counseling services to victims of child abuse and neglect. These services can be offered to persons who were abused or neglected when they were children and still suffer from the effects of their experiences, and also to child victims who have undergone the trauma of maltreatment and abuse. The program can also look into ways of offering joint counseling services to both the parents or guardians convicted of abusing their children, and the children who were being subjected to the neglect and maltreatment. If implemented, this will serve to assist family units to reunite, avoid breakups and mend faster. This is because the children will get a chance of rebuilding their broken confidence in their guardians or parents in a controlled environment (Mannarino & Deblinger,

The Things They Carried by Tim OBrien Essay Example for Free

The Things They Carried by Tim OBrien Essay Tim OBrien, author and veteran, covers several multiple in his novel The Things They Carried. The book bases itself on the psychological strain caused by the stress and conflicting interests in the war. OBrien wants us to see what hes afraid to look back at. Story truth is his way of facing the confronting the past and admitting his responsibility in it. OBrien tells his stories from a constant gush of memories. Emotions and morals are among the more evident themes covered in the novel. Pain, embarrassment, love, hate, loneliness, frustration, isolation, bravery, and struggles with morality. All of these, and combinations of these are religiously covered in the book. Though people not involved in a war could never even begin to understand, not even an ounce of what happened; OBrien uses these themes and emotions to help describe the crude and passionate feelings that the veterans felt throughout the war. Pain is one of the better know feelings about Vietnam. It still affects many Vietnam War veterans in many forms. Even though the war ended over 25 years ago, OBrien shows that the trauma associated with the war has had mental and physical effects on the soldiers since the war has passed. Because of this pain, it only makes sense that OBrien illustrates and reflects on the pains he and others felt during the war. Pain is caused by so many of the emotions used in this book, that it becomes difficult not to realize its significance in the book. The guilt caused by killing a man, even though he would have killed you. The mental torment felt when watching your comrade being scraped off of a tree. They were just goofing. There was a noise, I suppose, which mustve been the detonator, so I glanced behind me and watched Lemon step from the shade into bright sunlight. His face was suddenly brown and shining. A handsome kid, really. Sharp gray eyes, lean and narrow-waisted, and when he died it was almost beautiful, the way the sunlight came around him and lifted him up and sucked him high into a tree full of moss and vines and white blossoms. (OBrien p.70). These are the types of pains that can only be understood by having felt them yourself, the type of pain that lives deep within you forever, whether you want to remember it or not. Embarrassment was probably one of the more hidden feelings in the war. In the  chapter titled On the Rainy River, OBrien tells of something so deeply embarrassing, that he was too ashamed to tell even his closest friends, and family. He, being an anti-war individual at the time, would rationally have been opposed to fighting for a cause he didnt believe in. He ran. Running was a popular choice for those who were opposed to, or just scared of, war. At some point in mid-July I began thinking seriously about Canada. The border lay a few hundred miles north, and eight-hour drive. Both my conscience and my instincts were telling me to make a break for it, just take off and run like hell and never stop.(OBrien p.44). In the book he fled to the border, but stopped to rest before he crossed. His rest was the duration of six days. He was in a continuous battle with his conscience. He thought of his parents, the shame they would be faced with because of their sons weakness. He could hear his townspeople and peers mocking him. He couldnt risk the embarrassment. He submitted. I would go to war-I would kill any maybe did-because I was too embarrassed not too.(OBrien p.59.). The emotion considered by many to be the strongest of all emotions, was the focus, and title of the second chapter. Love tells of a young lieutenant, and the object of his affection, a girl from his hometown, Martha. Among the things in which Lieutenant Cross humped were two photographs, a good luck pebble, and letters from Martha. Lieutenant Cross kept to himself. He pictured Marthas smooth young face, thinking he loved her more than anything, more than his men, and now Ted Lavender was dead because he loved her so much and could not stop thinking about her.(OBrien p.7). When emotions like love make you think more of home, and less of the war, mistakes are inevitable; they simply affect your ability to work. Lieutenant Cross found this out the hard way. He burned Marthas pictures and letters. He would have to carry the burden of his mistakes, regret. A struggle with ones morality could be expected for any man. It all came down to one question. Am I willing to kill another man? Should I kill and live with the heavy guilt and burden on my conscience, or perish knowing the consequences youd be faced with would be worse. OBrien made a choice, he chose to live, and kill, and kill he did. In the chapter The Man I Killed OBrien reminisces over this experience. His jaw was in his throat, his  upper lip and teeth were gone, his one eye was shut, his other eye was a star-shaped hole, his eyebrows were thin and arched like a womans, his nose was undamaged, there was a slight tear at the lobe of one ear, his clean black hair was swept upward into a cowlick at the rear of the skull, his forehead was lightly freckled, his fingernails were clean, the skin at his left cheek was peeled back in three ragged strips, his right cheek was smooth and hairless, there was a butterfly on his chin, his neck was open to the spinal cord and the blood there was thick and shiny and it was this wound that had killed him.(OBrien p.124). Following his experience, he imagined what the mans life had been like before this. His memories created an existence for whom he killed. Memories are what kept them alive. He is astounded by what he has done, by what he had been forced to do. This novel, summarized, is about a young soldier who is overwhelmed by emotions and feelings about a war he wants nothing to do with. It conveys nearly every emotion that one can experience. It is because of these themes that people can even begin to understand what those living the war felt. As with most other veterans, OBrien experienced a loss so great, a burden so heavy, it is almost impossible to carry, but carry they did. They carried the burden of murders, the embarrassment of running, the bodies of their friends, and the memories that would haunt them for a lifetime. For these veterans the war will never end. Bonn, Maria S., Can Stories Save Us? Tim OBrien and the Efficacy of the Text, in Critique: Studies in Contemporary Fiction, Vol. 36, No. 1, Fall, 1994, pp. 2-14. Harris, Robert R., Too Embarrassed Not to Kill: A review of The Things They Carried, in New York Times Book Review, March 11, 1990, p. 8.

McDonalds vs. Burger King :: Business Management Studies Essays

McDonald's vs. Burger King In diagnosing the McDonald's organization, the first issue we will examine is their company goals. McDonald's has a goal of one hundred percent total customer satisfaction. However, they do realize that this goal is not always attainable. Therefore, if for any reason they do not meet that goal, they will do whatever it takes to correct their mistake. McDonald's has a second company goal that sets them apart from most of their competitors. McDonald's was founded on the principle of giving back to the community, and that remains one of their primary goals today. Through their charities, Ronald McDonald's House and Ronald McDonald's Children's Charities, McDonald's has pumped millions of dollars back into the community over the years. McDonald's customer service policy is laid out in the McDonald's Guarantee. The McDonald's Guarantee states, Your food will be hot. Your service will be fast and friendly. ! And your drive-thru orders will be double-checked right. If you're not satisfied, we'll make it right. Or your next meal is on us. Guaranteed. The customer service procedures of McDonald's are centered on focusing on one customer at a time. They are more concerned with the quality of the service tha the speed of the service. Employees usually take only one order at a time. They then prepare that order while the customers wait. After the present customer is satisfied, they move on to the next customer. This procedure allows great accuracy and quality, but lacks speed. McDonald's climate was not very appealing. Everything appeared to be focused around the business instead of the customers. Employees were working at a rapid pace, but it seemed like they had no time for customers. They acted as if it was a burden for them to stop and answer a simple question or refill a drink. The atmosphere was also very noisy. There was constant beeping, banging, and yelling coming from the ! service area. They did not provide a pleasant ambiance for cus! tomers to dine in. McDonald's communication and leadership were also lacking. The only communication between employees and customers was the placement of orders. The employees provided no feedback in terms of double-checking orders or communicating any delays that might occur. Communication between employees consisted of loud yelling throughout the kitchen. In terms of leadership, we did not see a manager present during our entire visit. Diagnosing Burger King was a little more difficult because they do not provide customers with literature (pamphlets) communicating goals and policies, as McDonald's does. However, Burger King's goals seemed quite clear.

Brotherhood

Brotherhood cannot be walked away from. It is a lifelong relationship with who you call brothers. From my experience with brotherhood, its a promise they have between one another. Brothers stay together when they are at their best, and their worse, that’s the respect that is given and received with brothers. The difference between friendships and brotherhood's are the internal bond you have and the pure love between them. But how far will a fake brotherhood go? Pat Conroy’s, The lords of Discipline and Tim O’Brien’s, The things They Carried, and other works show how brotherhood is essential to survival in difficult situations.When peoplee are going through a difficult situation in life, sometimes they just need someone by their side to make it through. Brotherhoods in war are more important than romantic or familial ones back home. These brotherhood’s are what keeps them going, they carry their brothers emotionally. In The Things They Carried the br others did more for each other than support one another during the way: â€Å" They shared the weight of memory. They took up what others could no longer bear. Often, they carried each other, the wounded or weak† (Tim O’Brien 39).CBrotherhood’s were formed because they shared ocommonproblems, that are not understandable putside the brotherhood in the war becauyse those problems become to great. These brothers experienced things together that will stay with them for the rest of their lives, and use each other to over comer obstacles and gain success. The necessity of brotherhood is also represented in going to school’s like the Carolina Institute and going through a plebe year are one of the most challenging things you could do alone, in The Lords Of Discipline a breakable bond is created by four boy’s being brought together during the cruelty of the plebe system.Mark, Will, Tradd, and Pig come together during their tough time as plebes and would do anything for each other, along with the rest of the plebes in R company. The boys in the R company that were going through plebe year together stuck up for a fellow plebe Bobby Bentle to prove he was not alone since suffering with uncontrollable urination: â€Å"The sound they heard was the sound of the other thirty seven freshman pissing in their own pants, in affirmation of our own allegiance to Bobby Bentley of Ocilla, Georgia† (Conroy 170).The boy’s all exposed themselves under the watch of the upperclassmen to demonstrate the strength of their brotherhood. Without the brotherhood between the plebe’s in R companty Boby Bentyly would not have had the courage and condifence to stay another day at the inttitue. His brothers kidness was essential to his servival of the pleve system. The plebe system and going to war are just the few times that brotherhood’s form, but they are what keep you sane at the end of the day.In fraternity’s the frat proces s can be very stressful and growing brotherhood's through your college years can almost change your college experience, Ray Plaza a fraternity alumni say’s he has â€Å" found that the bond of brotherhood is a valuable one as it has helped me to grow as an individual and also a man. The fraternity has allowed me to develop meaningful relationships † (Plaza 1). For Ray, knowing his brtohers were going through the same struggles as him, made it easier to not feel alone, and to have brothers to go to.A similar brotherhood exists in the West Point Military Academy where our guest speaker Patrick Ellison attends who believes, â€Å"your room and your brothers are your escape† (Ellison). When you attend the institute you need someone to to go when things get tough, and for him it was going to his room which he shared with his â€Å"brother†. Not only is your brother someone you can go to, its someone that will have your back and be with you through thick and th in, and to Patrick it was the escape from his problems and worries, which made it able for him to survive.When Brandon Davies violated a honor code and was kicked off his basketball team, although he disappointed his team, â€Å"Davie’s teammates, whose hopes were also crushed, said they bore him no malice and considered him a brother† (Gibbs 1). Without the support of his teammates through a time when they could have easily turned their back’s to him, David would have been all alone through his time of struggle. How far will a fake brotherhood go? Theirs people who use a brotherhood for their own benefit, not considering their fellow brothers, how long can that last?When will find’s out that Tradd was in the Ten and their brotherhood was a lie, Tradd does anything to take it back, â€Å"I just can’t lose you. I can't afford afford to lose you. Do you hear me, Will? I’m begging you. I’ll do anything to get your friendship back, you h ave no idea how important it is to me† (Conroy 555). When you betray a brotherhood, you learn that you were never truly apart of it, because you would have never betrayed it like Tradd did.When you go through the institute you wont make it without your brothers, the guest speaker  spoke of his years at the institute saying, â€Å"It’s necessary to have brotherhood† (Ellison). So when what’s gotten you through turns out to be a lie, it’s the worst feeling you could have. In life, there will always be a time when we need help. And when we do, we turn to our brother’s, someone we know will be there for us through everything in life. There’s a comfort in knowing you have someone to talk to about anything, share anything, or someone that will back you up or help you when you’re in need. Brotherhood Brotherhood cannot be walked away from. It is a lifelong relationship with who you call brothers. From my experience with brotherhood, its a promise they have between one another. Brothers stay together when they are at their best, and their worse, that’s the respect that is given and received with brothers. The difference between friendships and brotherhood's are the internal bond you have and the pure love between them. But how far will a fake brotherhood go? Pat Conroy’s, The lords of Discipline and Tim O’Brien’s, The things They Carried, and other works show how brotherhood is essential to survival in difficult situations.When peoplee are going through a difficult situation in life, sometimes they just need someone by their side to make it through. Brotherhoods in war are more important than romantic or familial ones back home. These brotherhood’s are what keeps them going, they carry their brothers emotionally. In The Things They Carried the br others did more for each other than support one another during the way: â€Å" They shared the weight of memory. They took up what others could no longer bear. Often, they carried each other, the wounded or weak† (Tim O’Brien 39).CBrotherhood’s were formed because they shared ocommonproblems, that are not understandable putside the brotherhood in the war becauyse those problems become to great. These brothers experienced things together that will stay with them for the rest of their lives, and use each other to over comer obstacles and gain success. The necessity of brotherhood is also represented in going to school’s like the Carolina Institute and going through a plebe year are one of the most challenging things you could do alone, in The Lords Of Discipline a breakable bond is created by four boy’s being brought together during the cruelty of the plebe system.Mark, Will, Tradd, and Pig come together during their tough time as plebes and would do anything for each other, along with the rest of the plebes in R company. The boys in the R company that were going through plebe year together stuck up for a fellow plebe Bobby Bentle to prove he was not alone since suffering with uncontrollable urination: â€Å"The sound they heard was the sound of the other thirty seven freshman pissing in their own pants, in affirmation of our own allegiance to Bobby Bentley of Ocilla, Georgia† (Conroy 170).The boy’s all exposed themselves under the watch of the upperclassmen to demonstrate the strength of their brotherhood. Without the brotherhood between the plebe’s in R companty Boby Bentyly would not have had the courage and condifence to stay another day at the inttitue. His brothers kidness was essential to his servival of the pleve system. The plebe system and going to war are just the few times that brotherhood’s form, but they are what keep you sane at the end of the day.In fraternity’s the frat proces s can be very stressful and growing brotherhood's through your college years can almost change your college experience, Ray Plaza a fraternity alumni say’s he has â€Å" found that the bond of brotherhood is a valuable one as it has helped me to grow as an individual and also a man. The fraternity has allowed me to develop meaningful relationships † (Plaza 1). For Ray, knowing his brtohers were going through the same struggles as him, made it easier to not feel alone, and to have brothers to go to.A similar brotherhood exists in the West Point Military Academy where our guest speaker Patrick Ellison attends who believes, â€Å"your room and your brothers are your escape† (Ellison). When you attend the institute you need someone to to go when things get tough, and for him it was going to his room which he shared with his â€Å"brother†. Not only is your brother someone you can go to, its someone that will have your back and be with you through thick and th in, and to Patrick it was the escape from his problems and worries, which made it able for him to survive.When Brandon Davies violated a honor code and was kicked off his basketball team, although he disappointed his team, â€Å"Davie’s teammates, whose hopes were also crushed, said they bore him no malice and considered him a brother† (Gibbs 1). Without the support of his teammates through a time when they could have easily turned their back’s to him, David would have been all alone through his time of struggle. How far will a fake brotherhood go? Theirs people who use a brotherhood for their own benefit, not considering their fellow brothers, how long can that last?When will find’s out that Tradd was in the Ten and their brotherhood was a lie, Tradd does anything to take it back, â€Å"I just can’t lose you. I can't afford afford to lose you. Do you hear me, Will? I’m begging you. I’ll do anything to get your friendship back, you h ave no idea how important it is to me† (Conroy 555). When you betray a brotherhood, you learn that you were never truly apart of it, because you would have never betrayed it like Tradd did.When you go through the institute you wont make it without your brothers, the guest speaker  spoke of his years at the institute saying, â€Å"It’s necessary to have brotherhood† (Ellison). So when what’s gotten you through turns out to be a lie, it’s the worst feeling you could have. In life, there will always be a time when we need help. And when we do, we turn to our brother’s, someone we know will be there for us through everything in life. There’s a comfort in knowing you have someone to talk to about anything, share anything, or someone that will back you up or help you when you’re in need.