The History and Fact About the Mousetrap

A  mousetrap  is a type of  animal trap  designed primarily to catch  mice; however, it may also, accidentally or not, trap other small animals. Mousetraps are usually set somewhere indoors where there is a suspected infestation of  rodents. The trap that is credited as the first patented lethal mousetrap was a set of spring-loaded, cast-iron jaws dubbed Royal No. 1.  It was patented on November 4, 1879, by James M. Keep of New York.  From the patent description, it is clear that this is not the  first  mousetrap of this type, but the patent is for this simplified, easy-to-manufacture, design. It is the industrial age development of the  deadfall trap, but relying on the force of a wound spring rather than gravity. The jaws of this type are operated by a coiled spring and the triggering mechanism is between the jaws, where the bait is held. The  trip  snaps the jaws shut, killing the rodent. Lightweight traps of this style are now constructed from plastic. These traps do not have a powerful snap like other types. They are safer for the fingers of the person setting them than other lethal traps and can be set with the press on a tab by a single finger or even by foot. James Henry Atkinson The classic spring-loaded mousetrap was first patented by William C. Hooker of  Abingdon, Illinois, who received a patent for his design in 1894.  A British inventor,  James Henry Atkinson, patented a similar trap called the Little Nipper in 1898, including variations that had a weight-activated treadle as the trip The Little Nipper is the classic snapping mousetrap that we are all familiar with that has the small flat wooden base, the spring trap, and the wire fastenings.  Cheese may be placed on the trip as  bait, but other foods such as oats, chocolate, bread, meat, butter, and peanut butter are more commonly used.   The Little Nipper slams shut in 38,000th of a second and that record has never been beaten. This is the design that has prevailed until today. This mousetrap has captured a 60 percent share of the British mousetrap market alone, and an estimated equal share of the international market. James Atkinson sold his mousetrap patent in 1913 for 1,000 pounds to Procter, the company that has been manufacturing the Little Nipper ever since, and has even built a 150-exhibit mousetrap museum in their factory headquarters. American John Mast of Lititz, Pennsylvania, received a patent on his similar snap-trap mousetrap in 1899. Humane Mousetraps Austin Kness had an idea for a better mousetrap back in the 1920s. The Kness Ketch-All Multiple Catch mousetrap doesnt use bait. It catches mice alive and can catch several before it needs to be reset. Mousetraps Galore Did you know that the Patent Office has issued more than 4,400 mousetrap patents; however, only about 20 of those patents have made any money? Catch a few of the different designs for mousetraps in our mousetrap gallery.

Socialism And Its Nature Of Supporting Economic And Social...

Ideology is most sufficiently defined as ideas and ideals that critique society and create a strategy to reach a better sociopolitical order (Love 19). In today’s world, the word comes with a negative connotations, and when heard becomes associated with unrealistic and impractical thinking. However, ideological thinking is necessary in societal progress, which the socialist ideology highlights and embodies. Socialism is a justifiable and critical ideology because it supports an environment of equality, encourages revolution, and occasionally strives for utopia. The first important aspect of Socialism is its nature of supporting economic and social equality. In order to understand this feature of socialism, one must grasp the importance and benefit of equality to a society. Albert Fried summarizes common socialist themes in the statement â€Å" each person’s obligation to society as a whole was the absolute condition of his equality. Society is a brotherhood not a co llection of strangers drawn together by interest† (Love 81). Some may argue that creating a community of brotherhood and equality prevents drive for success. Capitalism inherently creates motivation to surpass one s current class level and move up the economic ladder. This supposedly creates more economic production. Albert Fried disputes this claim however along with Joseph Chytry. Fried claims that â€Å"The individual derives his highest fulfillment from his solidarity with others, not from the pursuit ofShow MoreRelatedTony Blair, Socialism, Liberalism And Conservatism1665 Words   |  7 PagesCurrently, three prominent ideologies dominate the governing style of the world today: socialism, liberalism and conservatism. Many political groups and leaders often follow or claim to follow a specific ideology. On the other side of the spectrum for those who follow one ideology specific, there are some individuals that knowingly or unknowingly that follow none and focus on pra cticality of ideas. Those individuals are referred to as pragmatist. According to Encyclopà ¦dia Britannica, pragmatism isRead MoreProgressivism And Progressivism925 Words   |  4 Pageswhat progressivism is and what effect it had within the United States. Progressivism is defined as a movement that is to limit the social destructiveness effects of capitalism. Progressives look at capitalism as unhindered. That they need to extract from the markets in a capitalist system and to counterbalance the tasks that capitalism leaves such as terrible social effects. They wanted the public well being to be better off. Progressives overall did not want to other throw capitalism, but they wantedRead MoreSocial Policies And Law, Major Acts And The Discussion Of Working With Adults With Disabilities943 Words   |  4 Pageslight on social policy and law, major acts and the discussion of working with adults with disabilities in context of social work theories and current challenges. Social Wor kers (SWs) must work under set rules and policies currently in place. I will analyse and critically evaluate some major acts, the Human Rights Act (1998), Equality Act (2010) and the Mental Capacity Act (2005). Some people would say the Equality Act (2010) and Human Right Act (1998) act as an umbrella of guidance for social workersRead MoreSociologist Views on the Means and Ends of Socialism Essay2363 Words   |  10 PagesViews on the Means and Ends of Socialism Socialism is a very broad ideology, encompassing many different ideas and viewpoints. Different socialists have disagreed on both the ways in which they believe socialism should be achieved and implemented, and on what exactly it is that they want to achieve. The two main viewpoints I am going to look at in terms of the means of achieving socialism are revolutionary socialism and evolutionary socialism, and in terms of the aimsRead More Communism In The U.S. Essay1003 Words   |  5 Pages Karl Marx, author of The Communist Manifesto and Das Kapital, was the originator of the political and economic theory of Scientific Socialism (modern Communism). Communism, by definition, is the complete control of major resources and the means of production by government, initially in the form of autocracy. In theory, under this system all would be equal; all would share in both work, according to their ability, and profit, according to need. According to Marx, the proletariat, or working classRead MoreEssay about New Social Movements, how they arose and affect us.2411 Words   |  10 Pages What factors account for the rise of new social movements and what effect have they had on contemporary society? We are all familiar with the stories of suffragettes burning their bras, and environmental enthusiasts breaking into labs and liberating rats back to the wild. But what caused women to abruptly rip of their pinnies, tell dad dinner’s in the dog and start running around without appropriate underwear? What caused contented homemakers to leave the cosy warmth of their gas fires in favourRead MoreAnalysis Of The Poem Jurgis Rudkus 1520 Words   |  7 Pagesheavily on his family. Following the death of his wife and son, Jurgis leaves his remaining family and becomes involved in crime and political scandal. Eventually, Jurgis reconnects with his family and discovers socialism, a political ideology which rekindles his hopes for a future of equality and opportunity for all. Ona Lukoszaite is Jurgis s wife. She is a gentle and quiet young woman, whom Jurgis constantly strives to protect. Shortly after settling into Packingtown, she gives birth to AntanasRead MoreIs The Us Presidential Election Cycle?2504 Words   |  11 Pages There are two basic trains of thought: the economy should benefit everyone equally and should be controlled by the government aka socialism, or private enterprises should control the free market, deciding winners and losers aka capitalism. There are legitimate arguments for both ways of thinking, arguments that have become extremely relevant recently due to economic inequality in America and around the world. A good example of these two different arguments is the US presidential election cycle.Read MoreA Brief Note On Karl Marx, A German Philosopher And Economist Born2586 Words   |  11 PagesKarl Marx, a German philosopher and economist born in 1818, had a profound impact on and revolutionised politics, economics and intellectu al thought (Calhoun, 2002, pp. 23-24) when he emerged as a revolutionary thinker who denounced the economic and political elites (the Bourgeoisie) and argued Communism was the inevitable destination for society. His abstract view of human history led many to adopt his ideas and led to the formation of self-declared Communist states across four continents. StalinRead MoreModern Environmental Degradation And Exploitation3639 Words   |  15 Pagesresources of our planet. Since every transformative process bears the scars of revolution, Marx argues that, in emerging from the shackles of capitalism, socialism or the â€Å"first phase† of communism will bear the birthmarks of the previous order. Thus, each worker will be given credit for his contribution. When these changes transform the society and socialism extends throughout the world, humanity will enter the final stage of pure communism characterized by Statelessness, Classlessness and Propertylessness

Is Mechanical Engineering Beng At Liverpool John Moores...

Introduction:- This essay is searching my selected major, which is Mechanical Engineering BEng at Liverpool John Moores University. At first, it is investigating the reasons that made me choose this major, and then compare its first year modules at LJMU with University of Liverpool. Lastly, it presents an argument in thermodynamics, a module taught at the first year of Liverpool John Moores University Mechanical Engineering BEng program, which is a comparison between the efficiency of diesel and petrol engines. A:- A bachelor degree of Mechanical Engineering is my selected major to study at Liverpool John Moores University. LJMU is one of the leading school in teaching a practical degree of Mechanical Engineering. This degree provides†¦show more content†¦The second factor is school, my teachers always told me about how amazing engineers are, and how did they help building with other scientists our modern world, until I reached high school when I first studied physics as a single subject. My physics teacher was the most to affect me by teaching me about engines and they work and planting the love of mechanics and engineering into my soul which kept growing with me as I grew older. Thirdly, since I was a kid I have loved mechanics and engines and kept always trying to fix my toy cars, thinking about how they were made, and wanting to drive so badly. Therefore, when was a teenager, I kept asking my older brother to teach me how to drive. Fortunately, my older brother wanted me to lear n how to drive quickly in order to throw our house chores on me. Therefore, I kept learning how to drive, and my brother taught me how engines works in simple words, and showed me how to keep maintenance of cars in general and engines in specific. In conclusion, I have always wanted to study Mechanical Engineering for its great job opportunities, my family recommendation, school encouragement, and personal experience. B:- Mechanical Engineering BEng is a program taught at Liverpool John Moores University. This part of the essay is going to compare it between Liverpool John Moores University, and University of Liverpool based

William Shakespeare s Romeo And Juliet - 1721 Words

A significant quote from Romeo and Juliet: â€Å"Wisely and slow. They stumble that run fast† (2.3.94). This is the advice given by Friar Laurence warning about the dangers of fickle love, but it also says something about how action may lead to disaster. In Romeo and Juliet by William Shakespeare, the two protagonists for whom the play is named, Romeo and Juliet, are children of two relentlessly feuding families. Juliet belongs to the Capulet family while Romeo belongs to the Montagues. When the two meet, they fall in love, and decide to get married secretly, despite the disapproval of their families that would be blatant if their love was made public. The character of Nurse is someone who has watched over Juliet throughout her childhood, and Juliet confides in Nurse as if she were her mother. Friar Laurence is a figure which Romeo seems to confide in from the beginning. Both of these characters are involved in the â€Å"star-crossed lovers’† secret marriage plan s. In Shakespeare’s play Romeo and Juliet, Nurse and Friar Laurence, who serve as supporting characters to Juliet and Romeo, both influence the decisions made by the protagonists, and therefore affect the final outcome of the story, Friar more effectively enabling the couple through his action than Nurse, who acts as an assistant, advisor, and messenger. Both Friar Laurence and Nurse are confidants to the protagonists of the story, Friar Laurence being an advisor to Romeo as Nurse is to Juliet. Differences exist in theShow MoreRelatedWilliam Shakespeare s Romeo And Juliet1287 Words   |  6 PagesLizzy Baginski English Composition 2 Mr. Spera March 10, 2015 Romeo and Juliet Research Paper The movie Romeo and Juliet is a modern classic film that took place in 1996. Overall this is a timeless story that everyone should go and watch. This movie has an intriguing plot line that tells the story of two feuding families, The Montagues and The Capulets, and how the children of these two different families fall in love. The two children overcome various obstacles such as hiding their chemistry fromRead MoreWilliam Shakespeare s Romeo And Juliet 966 Words   |  4 Pages Beauty Over Gold â€Å"Beauty provoketh thieves sooner than gold.--William Shakespeare, 1623. In his book As You Like It, William Shakespeare pointed out the supremacy of love rather than the want of gold and wealth. Truly, beauty is more important to thieves than wealth. Many of the thieves in this world would rather have an elegant woman than to obtain precious rubies. After all, what good is a prosperous man if he doesn’t have a charming woman? Two famous men grab my attention who didn’t fear forRead MoreWilliam Shakespeare s Romeo And Juliet Essay1024 Words   |  5 PagesRomeo and Juliet is a tragedy written by William Shakespeare early in his career about two young star-crossed lovers whose deaths ultimately reconcile their feuding families. It was among Shakespeare s most popular plays during his lifetime and, along with Hamlet, is one of his most frequently performed plays. Today, the title characters are regarded as archetypal young lovers. Romeo and Juliet belongs to a tradition of tragic romances stretching back to antiquity. The plot is based on an ItalianRead MoreWilliam Shakespeare s Romeo And Juliet1124 Words   |  5 PagesThe play Romeo and Juliet is a tragedy written by William Shakespeare early in his career about two young star-crossed lovers whose deaths ultimately reconcile their feuding families. It was among Shakespeare s most popular plays during his lifetime and, along with Hamlet, is one of his most frequently performed plays. Today, the title characters are regarded as archetypal young lovers. Romeo and Juliet belongs to a tradition of tragic romances stretching back to antiquity. Its plot is based onRead MoreWilliam Shakespeare s Romeo And Juliet861 Words   |  4 Pagesgreatly shown in the play Romeo and Juliet by William Shakespeare. It was love at first sight with Romeo Montague and Juliet Capulet. Meeting at a party and falling in love to get married without even spending quality time with each other. Romeo and Juliet couldn t tell there parents because the Capulets and Montagues are long term rivals. Both Romeo and Juliet had to find different ways and excuses to make this marriage work. A big problem was developed. Romeo kills Juliet s cousin and is banishedRead MoreWilliam Shakespeare s Romeo And Juliet1770 Words   |  8 Pagesof Romeo and Juliet. The story of two destined lovers who were killed by their own doing. But what if they weren t two destined lovers who got unlucky, but doomed partners that were never going to have a good-life to begin with.William Sha kespeare gives us a view of early signs of gang conflict in the early age of Verona, Italy. He gives us a perspective of the norms and customs of Italy during the Setting of William Shakespeare s most famous story. Romeo and Juliet, by William Shakespeare, givesRead MoreWilliam Shakespeare s Romeo And Juliet1264 Words   |  6 Pagestheater-going public the most important dramatist in English literature, Shakespeare occupies a well-known position in the world of talented authors. His canon contains thirty-seven plays, written in the late sixteenth and early seventeenth centuries. Additionally, throughout the years, they continue to sustain critical attention, with the majority of his works circling tragedies, one being Romeo and Juliet. William Shakespeare s Romeo and Juliet speaks to the timeless appeal of star-crossed lovers. Their loveRead MoreWilliam Shakespeare s Romeo And Juliet924 Words   |  4 PagesWilliam Shakespeare’s Romeo and Juliet is a tragedy that follows t he so-called love of two teenagers. The two fall in love at a masked ball and have a secret marriage. Throughout the play, their actions show how ridiculous love is, and how it is a danger to anyone who become twisted in its choking grasp. However, in the death of the youth and survival of the elders, an alternative explanation for the tragic events may be found. Although Shakespeare seems to be mocking love throughout the play, itRead MoreWilliam Shakespeare s Romeo And Juliet1616 Words   |  7 Pageslove can also cause some of life s most controversial battles. These battles could stem from lack of patience, disagreement of moral values, and in some cases, an absence of attraction overall. In Romeo and Juliet by William Shakespeare, the issues that drive Romeo Montague and Juliet Capulet s to each of their dreadful misfortunes are inevitable. When it comes to many of Shakespeare s plays, Aristotle s theory is used to describe them as tragedies. Romeo and Juliet is known by many as a tragedyRead MoreWilliam Shakespeare s Romeo And Juliet967 Words   |  4 Pagesof ‘Romeo and Juliet’ written by William Shakespeare. Shakespearean time was between the middle Ages and the Industrial Revolution and it was branded by religious changes. William Shakespeare is widely known as the greatest dramatist of all time. Born April 1564, Shakespeare’s play ‘Romeo and Juliet’ is no doubt one of his most famous pieces. ‘Romeo and Juliet’ was first published in 1597 and its tragic story of banned love still captures the creativity of its audience today. ‘Romeo and Juliet’, although

City Problems free essay sample

Theres many problems facing the worlds cities now and in the coming years. Those problems have a huge impact for our lives and cities. It will make our cities become damaged and uncontrolled. But we do not have to worry because every problem has solutions. One of the problem is about population, such as human overpopulation. For the first time ever, the majority of the worlds population lives in a city, and this proportion continues to grow. The reason is due to medical advancements and increases in agricultural productivity. Besides that, the big problem of cities is transport problem. Transport problems are related to urban areas and take place when transport systems cannot satisfy the requirements of urban mobility. The example of problems are traffic congestion, public transport inadequacy, loss of public space, environmental impacts and energy consumption, accidents and safety, and so on. From the problems that weve known, we are as human can use our brain to think the way to reduce and fix them. We will write a custom essay sample on City Problems or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page To solve the overpopulation problem, the solutions are education. Educating the masses helps them understand the need to have one or two children at the most. Second way is making people aware of family planning. The other way is knowledge of sex education. Imparting sex education to young kids at elementary level should be must. Mostly, the information is incomplete which results in sexually active teenagers unaware of contraceptives and embarrassed to seek information about same. It is therefore important for parents and teachers to shed their old inhibitions and make their kids or students aware of solid sex education. We can conclude that theres many problems that facing the cities. But, they can be fixed through many ways.The ways can reduce the city problems, such as overpopulation and transport system problem. Therefore, we have to do the ways right because our city is our lives.

Jazz Concert Review Essay Example For Students

Jazz Concert Review Essay Attending my first jazz concert was an unforgettable experience of great live instrumental music. The concert was entertaining and a very educational experience of this course. As a student in this course with little musical education, I never appreciated instrumentals, until the SDSU Jazz Concert. This concert was a really enjoyable experience with the balance of all the instruments. I really enjoyed the experience and the knowledge of music I gained from the concert. The way the conductor opened the show was very nice. As I walked in some of the violins were playing sweet melodies until everyone arrived and took a seat. They asked us to shut off our phones so we would not interrupt the concert. They had an itinerary for us to follow along with all the songs but they did not play every song that was on he itinerary. Also, the songs were not in playing order so it got confusing which songs they were playing. The melodies portrayed in each song were very unique. The first song, â€Å"In a Turkish Bath,† the guitar player, Tim Quinn had a long solo in the beginning that was entertaining because of his enthusiasm and body movements that went with the beats. It was refreshing to see someone with such great skill who so involved in playing the guitar. There was also one pianist, who hit every note on point, and many saxophonists and trumpeters. One of the trumpeters (I unfortunately forgot his name) had a 30 second long solo. He was incredible; his movement as he played was magnificent. The way his body moved with the melody of the song was on point. He was really in the mood of the song and was enjoyable to watch. This song was falling more toward dissonant category then consonant. The instruments were very loud and not kind to the ear. The second song played was a surprise choice, and it was a pleasure to see that each musician was very prepared and put their best effort into the songs. The third chosen song was â€Å"Santa Barbara Samba† and it included great fast beats with the trombone, guitar, and drums. I really enjoyed the melodies of all the instruments played because each had their own timbre. The fourth song played was â€Å"Time After Time,† which is my favorite song played because of the female vocalist, Teagen Taylor, who had a great voice. The vocal component kept me entertained because I was able to greatly appreciate the instruments along with the voice. She sang and also played the saxophone. She had a beautiful voice and is a very impressive musician. That song was a good vocal ensemble that was a balance between vocals and instruments. On the fifth song, â€Å"Latin Espresso, I appreciated how upbeat the song was and how there was such great rhythm as well. The timbre, or tone color, was very happy and bright. This made the music enjoyable and creates a pleasurable mood for the ears of the audience. Lastly, the â€Å"Concord Blues Plus 8† piece was impressive to me because of the piano player. The pianist also had magnificent solos. The piano creates a very unique sound during an instrumental and adds a great amount of rhythm and is my personal favorite instrument, but I would have enjoyed more attention for the pianist throughout the performance. The guitar solos, by Tim Quinn, were very well performed. I really enjoyed his enthusiasm and love for music, which was very noticeable during his performance. I enjoyed his part in the song and his great skills on the piano. The rhythm of a song allows the audience to add their own motion to the unique beat and â€Å"Concord Blues Plus 8† created an entertaining beat that I appreciated greatly. .ue29175923691f855cee3f13e42c6762f , .ue29175923691f855cee3f13e42c6762f .postImageUrl , .ue29175923691f855cee3f13e42c6762f .centered-text-area { min-height: 80px; position: relative; } .ue29175923691f855cee3f13e42c6762f , .ue29175923691f855cee3f13e42c6762f:hover , .ue29175923691f855cee3f13e42c6762f:visited , .ue29175923691f855cee3f13e42c6762f:active { border:0!important; } .ue29175923691f855cee3f13e42c6762f .clearfix:after { content: ""; display: table; clear: both; } .ue29175923691f855cee3f13e42c6762f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue29175923691f855cee3f13e42c6762f:active , .ue29175923691f855cee3f13e42c6762f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue29175923691f855cee3f13e42c6762f .centered-text-area { width: 100%; position: relative ; } .ue29175923691f855cee3f13e42c6762f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue29175923691f855cee3f13e42c6762f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue29175923691f855cee3f13e42c6762f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue29175923691f855cee3f13e42c6762f:hover .ctaButton { background-color: #34495E!important; } .ue29175923691f855cee3f13e42c6762f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue29175923691f855cee3f13e42c6762f .ue29175923691f855cee3f13e42c6762f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue29175923691f855cee3f13e42c6762f:after { content: ""; display: block; clear: both; } READ: The major musical development of the classical period EssayWhen I was younger I played the piano, so I felt I could relate the most with that instrument and could understand the piano part the best. The songs that were played at the concert added depth to the course because all the musicians were very talented and brought a great jazz experience to the concert. Overall, this experience at the San Diego State University Jazz Ensemble was unforgettable as well as very educational and enjoyable. Even though our class is the history of rock I thought it would be cool to see a jazz concert and learn a different type of music. The jazz ensemble flowed very well, and I sat in the front row, which was a great experience. I feel that San Diego State University’s Jazz Ensemble is very well directed and deserves more recognition. This experience added depth to the course and was much more pleasurable than listening to instrumentals online because I had never taken an interest in jazz until finally seeing it live in concert. While I am not pursuing a career in music, I am interested in attending more live jazz concerts and expanding my musical horizons.

The Basic Ingredients for the Formation of any Contract Free Sample

Question: Can Mike, Tom, Steve and Mary have any Claims against Bob? Answer: The basic ingredients that are required for the formation of any contract are agreement (offer plus acceptance), consideration, and intention of the parties and the capacity of the contractual parties. (Adams, 1997) All these ingredients should be analyzed in order to understand whether the claims that are raised against Bob are valid or not? A contract is an agreement which has the enforceability of law. An agreement is made when an offer is supported by acceptance. When an offer transfers his desire acts/omissions to an offeree with a hope that an approval will be received then it is an offer (ButlerMachine Toolv Ex-Cell-O Corporation[1979]). When the offeree grants his approval to the offer so received then it is called acceptance. (McKendrick Liu, 2015) But, when instead of accepting the offer, changes are brought in and a conditional acceptance is made then it is invalid and such act is called counter offer which has the capacity to cancel the original offer. The counter offer then becomes the new offer which must be approved to make a contract (Hyde v Wrench[1840]). Further, when the acceptance is made by letter or post, then as per rule in Adams vLindsell (1818), the acceptance is complete when the letter is posted. No revocation of offer will cancel the contract amid the parties. (McKendrick Liu, 2015) Also, when no offer is made but offers are invited via advertisements, auctions, tenders, etc, then it is called invitation and is not equivalent to an offer. The inviter receives offers from the public and hen he accepts the offers then a valid contract is made (Partridge v Crittenden[1968]). Apart from offer and acceptance, every agreement amid the parties should be sustained by consideration which makes such agreements enforceable in law. Consideration is benefits/gain/advantage which is paid by one party to another in exchange of the promises that is complied with by the parties. If there is no consideration the acts are gratuitous and there is no contract (Commonwealth v Verwayen[1990]). (Stone Devenney, 2015) The parties should also exchange their promises with legal intention. If the offer or offeree is exchanging offers and acceptance with no intention to bind by the same legally, then such kinds of contract have no significance. Whether parties are in domestic or commercial relationship, the contract are only enforceable when they intent to be legally bound by the same Cohen v. Cohen(1929). (Latimer, 2012) The parties should also be mentally stable and major in order to be capable to make a valid contract. Application The law is now applied to each and every situation. An email was sent by Mike to Bob on 1st January wherein he offers to sell his laptops at a price of $300 each (including insurance, delivery and GST). He offered 30 laptops. Normally, advertisements, tenders, display are invitations, but, the mail sent by Mike is an offer and thus Bob if accepts the offer of Mike then there is a contract amid the two. But, on 2nd Jan, Bob instead of accepting the offer, make changes and revert by stating that he is willing to buy the laptops provided the price is $ 300 inclusive of GST. The acceptance made by Bob is not a valid offer because acceptance must be absolute and unqualified. But, the acceptance made by Bob was conditional and thus is a counter offer. This counter offer has cancelled the offer of Mike. So, now the offer made by Bob on 2nd is valid. This offer was rejected by Mike on 3rd January. So, no contract exists between Bob and Mike. The acceptance of Bob on 5th has no significance as no acceptance can be made against an offer which was rejected by the parties already. The invoice of $ 9,000 send by Mike will not make the contract valid. Now, Bob was in need of hard-drives, so he ordered 5 drives from Tom on 10th January at the rate of $50 each. Thus, an offer is made by Bob which as accepted by Tom on 12th January through post but he agreed to accept the offer provided he will make delivery at the end of month. The acceptance by post by Tom has resulted in the formation of contract on 12th itself. As per postal rule, the acceptance is deeming to take place as soon as the letter is posted. The email by Bob on 14th for cancellation of offer has no significance. Toms letter reaches Bob on 15 January, and the hard-drives are delivered a few days later with an invoice for $ 10 000, which Bob refuses to pay. Also, Steve used to look after the cat of Bob. Later Steve was in need of computer so he asked for the same from Bob by writing to Bob on 1ts February. Bob agreed in exchange for the favors made by Steve. However, the promise by Bob has no significance because it is a promise which is made for a past act and in Australian contract law; there is no scope for past considerations (Roscorla v Thomas (1842)). Lastly, Bob is dealing with Mary in order to buy a van. Mary sent a document wherein she offered the sale price for the van at $33,000. The document requires the signature of Bob agreeing with the document terms. Bob accidently signs the document and faxes the same to Mary. When Bob signs the document he is of the view that he has signed a document of some other supplier. Now, Bob has no legal intention to abide by the document which he has signed and sent it to Mary. The offer made by Mary as accepted by Bob but without any legal intention and which is the main essence of any valid contract. The parties are in commercial relationship but the intention of both the parties is different and is not in consensus with each other. So, Bob has no legal intention to abide by the contract. Conclusion Mike cannot sue Bob because no valid offer was accepted by either of the parties. So, there is no contract amid the two. Bob must pay $ 10,000 to Tom because there is a valid contract with Tom which was established on 12th January itself hen the letter of acceptance was posted. Bob is not compelled to provide computers to Steve because the consideration that is provided by Bib against the favors of Steve was for a past act and thus has no value in law. Mary cannot force Bob to honor the contract because there is lack of legal intention. References Books/Articles/Journals Adams, M (1997). Australian Essential Management Law, Routledge. Latimer, P (2012) Australian Business Law 2012. McKendrick, E, Liu Q (2015) Contract Law:Australian Edition. Palgrave Macmillan. Stone, R, Devenney J (2015) The Modern Law of Contract. Routledge. Case laws Adams vLindsell (1818). ButlerMachine Toolv Ex-Cell-O Corporation[1979] 1 WLR 401. Commonwealth v Verwayen[1990] HCA 39. Cohen v. Cohen(1929) 42 CLR 91. Hyde v Wrench[1840] 49 ER 132 Partridge v Crittenden[1968] 1 WLR 1204. Roscorla v Thomas (1842) 3 QB 234

Msuic free essay sample

Breton science homework Aim: In science we did an experiment about elephant skin, it was about if elephants cool down quicker when wet or dry.Equipment: 2 thermometers and beakers, hot water (to put inside of the beaker), tap water (to wet the cottons pen, paper, ruler and a rubber (this is for your graph and data) Method: first get two beakers then wrap one In cotton wool and wet it with a tap water temperature representing the water an elephant would spray on Its self to cool down , then wrap one In cotton wool and then leave It dry, the cotton wool emulates (emulate Just means to copy) the elephants kin, Then put water In both of the beakers make sure the water Is put Inside the beakers at the same time and make sure you put the same amount of water In the beakers, why?Place 1 thermometer In each beaker and measure the temperatures each minute but make sure you record the data, look at the results on the thermometer twice, after workout the average by adding the data in each colum n and dividing it by the number of times you recorded the data in each column, if you dont understand raise your hand and tell the teacher, work with a partner or a group of three, good luck. We will write a custom essay sample on Msuic or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Read it all to make sure you understand and to make sure you are doing the test right.Independent variable: the conditions of the cottons wrapped around the beaker. Dependent variable: temperature in both the beakers covered in cotton. Control variable: The amount of water inside the beakers, the amount of the cotton wrapped around the beakers, the room conditions and water temperature at the beginning of the test.

Karl Marx Essays (1954 words) - Karl Marx, Anti-capitalism, Marxism

Karl Marx Karl Marx Karl Marx was the greatest thinker and philosopher of his time. His views on life and the social structure of his time revolutionized the way in which people think. He created an opportunity for the lower class to rise Above the aristocrats and failed due to the creation of the middle class. Despite this failure, he was still a great political leader and set the Basis of Communism in Russia. His life contributed to the way people think Today, and because of him people are more open to suggestion and are Quicker to create ideas on political issues. Karl Heinrich Marx was born May 5th, 1818 in Trier. Although he had three other siblings, all sisters, he was the favorite child to his father, Heinrich. His mother, a Dutch Jewess named Henrietta Pressburg, had no interest in Karl's intellectual side during his life. His father was a Jewish lawyer, and before his death in 1838, converted his family to Christianity to preserve his job with the Prussian state. When Heinrich's mother died, he no longer felt he had an obligation to his religion, thus helping him in the decision in turning to Christianity. Karl's childhood was a happy and carefree one. His parents had a good relationship and it help set Karl in the right direction." His 'Splendid natural gifts' awakened in his father the hope that they would One day be used in the service of humanity, whilst his mother declared him to be a child of fortune in whose hands everything would go well. (The story of his life, Mehring, page 2) In High school, Karl stood out among the crowd. When asked to write a report on "How to choose a profession" he took a different approach. He took the angle in which most interested him, by saying that there was no way to choose a profession, but because of circumstances one is placed in an occupation. A person with an aristocratic background is more likely to have a higher role in society as opposed to someone from a much poorer background. While at Bonn at the age of eighteen he got engaged to Jenny Von Westphalen, daughter of the upperclassmen Ludwig Von Westphalen. She was the childhood friend of Marx's oldest sister, Sophie. The engagement was a secret one, meaning they got engaged without asking permission of Jenny's parents. Heinrich Marx was uneasy about this but before long the consent was given. Karl's school life other than his marks is unknown. He never spoke of his friends as a youth, and no one has ever came to speak of him through his life. He left high school in August of 1835 to go on to the University of Bonn in the fall of the same year to study law. His father wanted him to be a lawyer much like himself but when Karl's reckless university life was getting in the way after a year Heinrich transferred him to Berlin. Also, he did not go to most lectures, and showed little interest in what was to be learned. Karl's reckless ways were not tolerated at Berlin, a more conservative college without the mischievous ways of the other universities. While at Berlin, Marx became part of the group known as the Yong Hegelians. The group was organized in part due to the philosophy teacher Hegel that taught from 1818 to his death. The teachings of Hegel shaped the way the school thought towards most things. Those who studied Hegel and his ideals were known as the Young Hegelians. Hegel spoke of the development and evolution of the mind and of ideas. Although Karl was younger than most in the group, he was recognized for his intellectual ability and became the focus of the group. While at Berlin "He came to believe that all the various sciences and philosophies were part of one overarching, which, when completed, which would give a true and total picture of the universe and man." (Communist Manifesto, Marx (Francis B. Randal), page 15) Marx was an atheist, and believed that science and philosophy would prove everything. Thus he had no belief in a god of any type. Marx believed that Hegel must have been an atheist as well because of his strong belief in the mind. Marx's doctoral thesis was competed in 1841. It carried the title "The Difference Between the Philosophies of Nature of Democrtius and Epicurus."(The Making of Marx's Critical Theory, Oakley, page 11) It had to do with the Greek philosopher Epicurus and how his beliefs related to Marx's of that day.

Microeconomics - Help and Resources for Students

Microeconomics - Help and Resources for Students This page contains links to economics articles on this site. Most of the major topics in microeconomics have at least one article associated with them, but this is a work in progress and more will be added every month.   Collective Action - Microeconomics The Logic of Collective Action Costs - Microeconomics How to Understand and Calculate Cost Measures (Note: Includes Marginal Cost, Total Cost, Fixed Cost, Total Variable Cost, Average Total Cost, Average Fixed Cost, and Average Variable Cost.) Demand - Microeconomics What Is The Demand For Money?Price Elasticity of DemandIncome Elasticity of DemandCross-Price Elasticity of DemandCost-Push Inflation vs. Demand-Pull Inflation Economic Scale - Microeconomics Increasing, Decreasing, and Constant Returns to Scale Elasticity - Microeconomics Beginners Guide to ElasticityPrice Elasticity of DemandIncome Elasticity of DemandCross-Price Elasticity of DemandPrice Elasticity of SupplyArc Elasticity Income - Microeconomics The Effect of Income Taxes on Economic GrowthIncome Elasticity of DemandFairTax - Income Taxes vs. Sales Taxes Inflation and Deflation - Microeconomics Cost-Push Inflation vs. Demand-Pull InflationWhy Dont Prices Decline During A Recession?What is Deflation and How Can It Be Prevented? Markets - Microeconomics How Markets Use Information To Set Prices Money - Microeconomics What Was The Gold Standard?What Is The Demand For Money?How Much Is The Per-Capita Money Supply?Why Does Money Have Value?Are Credit Cards a Form of Money?When Stock Prices Go Down, Where Does the Money Go?Expansionary Monetary Policy vs. Contractionary Monetary PolicyWhy Not Just Print More Money? Prices - Microeconomics Price Elasticity of DemandCross-Price Elasticity of DemandPrice Elasticity of SupplyWhy Dont Prices Decline During A Recession?What is Arbitrage?When Stock Prices Go Down, Where Does the Money Go?How Markets Use Information To Set Prices Quotas and Tariffs - Microeconomics Why Are Tariffs Preferable to Quotas?The Economic Effect of Tariffs Short Run vs. Long Run - Microeconomics The Difference Between Short and Long Run Supply - Microeconomics How Much is the Per Capita Money Supply in the U.S.?The Oil SupplyPrice Elasticity of Supply Taxes and Subsidies - Microeconomics The Effect of Income Taxes on Economic GrowthWhy Are Tariffs Preferable to Quotas? Voting Systems - Microeconomics Proportional Representation vs. First-Past-The-Post

Top 10 Student Films Sitcoms For Your Perfect Campus Movie Night Party

Top 10 Student Films Sitcoms For Your Perfect Campus Movie Night Party One of the easiest and cheapest ways to enjoy a fantastic social life, making new friends, and enjoying your time together is simply to have a night in, and be creative with it as you can. College life is renowned for being a blast, and that isn’t just about heading to the nearest bar, it’s about enjoying every single day of your time there, from nights in, nights out, and everything in-between. Imagine the scene – snacks, comfortable clothes, a few drinks, throw some cushions on the floor, make yourself truly comfortable, and kick back and relax with a few film favourites. If you’re struggling for inspiration on what to watch however, check out these ideas. Good Will Hunting You don’t have to be a slightly rebellious math genius to enjoy this film, and it’s the ideal choice for those who may be feeling a little homesick, or want to enjoy a rather tear-jerker film with friends. We know that Matt Damon is the janitor from the wrong side of the tracks, and he forms an unlikely friendship with crazy lecturer, Robin Williams. This film is epic. The Roommate Hopefully you won’t be watching this film with any new roommates, because you might start looking at them in a different light, but the film itself is ideal for a movie night. Basically, the plot is about a girl who is assigned a new roommate, and at first they get on like a house on fire, but then said roommate turns out to be a little, well, psychotic. The Big Bang Theory You might wish you were living in California and studying, just like these lot, but this sitcom is one to make you laugh. You have nine series to work your way through, so you have enough for a few movie nights in to keep you going, and whether you’re the beauty, or the geek, you can’t help but laugh. Laughs are what hold people together, and forming new friendships is best done through laughter! Eat, Pray, Love At first you might think this is a film which is a tad too deep and meaningful for a night in, however after the first half an hour, I dare you not to be inspired. Julia Roberts explores her wants and needs, across various locations in the world, before falling well and truly in love, not only with the man in her life, but with herself too. The Scream series Who doesn’t love a rather ridiculous movie that is supposed to be scary? Of course, this movie is scary in parts, but you simply have to laugh in equal parts. Turn down the lights, open a bottle of wine or two, laugh and hide under the duvet. Legally Blonde When you’re studying something new, you have to believe in yourself, and this film has that message in abundance. Reese Witherspoon proves you can be blonde, into fashion, not really that knowledgeable about a subject, but still win through with hard work, perseverance, and a good heart. The ideal girly film for a night in. The Graduate Male or female, you will love this film, ideal for that movie night with your new student buddies. This is a classic, with Dustin Hoffman taking centre stage as Benjamin, the new graduate who despite his parents’ hopes for his future, ends up forming a rather complicated attachment to his father’s business partner. Essay Writing Place can take care about your essay writing while you watch great movies. Mona Lisa Smile Julia Roberts is at it again in this girl power period drama. We head back to the 1950s, where the lady herself is an art history teacher, however she soon realises that her students are more interested in bagging themselves a man, rather than learning about their studies. This is another about female empowerment, but one which is perfect for a night in with a few snacks. If you’re new to university, this is a great way to bond with your new friends too. Dirty Dancing Are you having the time of your life? Bonding with friends is fantastic over this classic, feel-good film, and ideal for those hoping to meet their own Jonny Castle at university. You could of course try and recreate that iconic final dance, and the winner gets a prize! The Inbetweeners We’re not all lucky enough to be the popular ones at school or college, and if you’re in the opposite category, as many of us are, you can certainly empathise, and probably laugh at, the antics of Will, Simon, Neil, and Jay. If you run out of series, start on the two films. So, a night in will save you cash, and also has the added perk of offering a range of activities to enjoy as part of your movie night, such as food, drink, competitions, laugher, photographs, and recreations. Happy watching!

What to Do If Youre Placed on Academic Probation

What to Do If Youre Placed on Academic Probation Being placed on academic probation while in college is serious business. You may have known it was coming, you may have had no idea it was coming- but now that its here, its time to sit up and pay attention. What Exactly Is Academic Probation? Academic probation can mean various things at different colleges and universities. Usually, however, it means that your academic performance (either in a series of classes or through your GPA) is not strong enough for you to be making acceptable progress toward your degree. Consequently, if you dont improve, you may be asked (translation: required) to leave the college. Learn the Specifics of Your Probation Just like schools can have different definitions of academic probation, students can have different terms for their academic probation. Read the fine print of your warning letter and make sure you understand everything thats in there. How do you need to change your academic standing? To what? By when? What happens if you dont do so- will you need to leave the college? Leave just the residence hall? Not be eligible for financial aid? Get Help No matter how confident you felt, clearly something did not work out if youre on academic probation. Check in with people for help: your academic advisor, your professors, a tutor, other students in the class, and anyone else you can utilize as a resource. Sure, it may be awkward to ask for help, but doing is almost certainly less awkward than having to leave college before you had planned to. Keep Getting Help Lets say you reach out for help, get a tutor, and work, work, work to study for your next chemistry test- which you promptly ace. Your confidence goes up and you start to feel like you may not need as much help as you thought you did. Be extra careful not to let yourself fall into your old patterns- you know, the ones that got you into academic probation in the first place- and to stick with getting help throughout the term. Prioritize Your Other Commitments If youre placed on academic probation, youll need to do a serious assessment of your other commitments. Passing your classes now becomes your number one priority (as it should have been from the beginning). Be honest with yourself about your other commitments in college and, as hard as it may be, cut out as much as you need to in order to make sure your academics are getting the time and attention they deserve. After all, you cant be involved in all you want to do if youre not allowed back in school next semester. Make a list of what you need to do (like working) versus what you want to do (like being heavily involved in your Greeks social planning committee) and make some changes as needed.

UKCCA Event Project assessment brief Essay Example | Topics and Well Written Essays - 750 words

UKCCA Event Project assessment brief - Essay Example Therefore, I project there will be a total of 500 fans. This is a good number which will enable the organizers to get adequate returns and make profits at the end of the event. Given that this is expected to be a spectacular event, it will have to be advertised to enable all the target audience to have adequate information about it. Because this event will be targeting the college students, adverts will be placed in the broadcast (TV) and online media. By using popular web sites and social media platforms, the organizers of this event will have to access the students who are so popular with these sites. Thus, they will acquire all the necessary information about it. In order to appeal to the target audience, all the necessary steps should be taken to ensure that event is made colorful and enjoyable. The target age group is made up of young excited and curious individuals who need to get a high level of satisfaction from such events (Carr, 2009). A part from inviting a renowned band of Jazz musicians to thrill them, the event organizers should extend their services to invite a DJ and offer a variety of dishes in the normal list of UKCCA menu. This will include the following meals: As a matter of fact, the organizers of this event are expected to incur lots of expenses. These will be used to cater for advertisement, hiring the artists, venue, staff and purchasing of food and drinks which will be consumed during the event. These expenses can be summarized in the table below: In order for this party to succeed as planned, there needs to be adequate preparation. Meaning, the organizers have to allocate enough time and resources. However, since it will not be a free event, each and every participant will have to be charged. No service will be granted free of charge. Therefore, the expected income is stated in the table below: Actually, one of the major objectives for

Assess the hierarchical structure of the court system in England and Essay - 1

Assess the hierarchical structure of the court system in England and Wales. To what extent does the common law doctrine of bindi - Essay Example The England and Welsh courts have a hierarchical structure that is found within both the criminal and civil courts and represents the different levels of authority within the courts. The supreme court of the United Kingdom is considered as the most superior and senior court in the land that is tasked with high ranking litigations and court cases. These courts are tasked with different roles and constitutional functions within the English jurisdiction. Legal systems are guided to a larger extent by judicial precedents and historical rulings on cases which have striking similarity with the cases at hand. Within the English law and precedent, processing of the applicability and quality of a precedential ruling enables the courts to only apply liable legal rulings that bear similarities to their cases. As stated by the doctrine of binding precedents, the rules and legal laws used in arguing the case in reference must be fully studied and used to form an informed basis of whether to apply the precedent or not (Thomas, 2005). In this paper, the legal system of the Wales and England judicial structures will be analysed to provide their roles as enshrined in the English law enactment of the United Kingdom legislative enactment. ... United Kingdom supreme court The United Kingdom Supreme Court is considered as the final court of appeal in the country that is tasked with various roles and responsibilities that has ensured the development of the English law. All cases heard by the court, whether they are appeal in nature must have been referred to it by other courts below it. According to Hondius (2007), the United Kingdom Supreme Court is the ultimate court of appeal in the United Kingdom that is allowed to hear all cases from all the four kingdoms in the union. It thus makes determination of cases brought before it from England, Wales, Scotland and Ireland after the cases have been referred to it by other courts below it. Apart from high profile civil cases, the court is tasked with the determination of high profile cases of public interest and concern which are beyond the jurisdiction of other courts below it. Apart from the general cases considered of great public interest, the court is also tasked with consti tutional interpretation functions especially on cases involving the different kingdoms and their internal governments (Stone, 2009). Appeal courts of England and wales It is considered as the most senior court below the Supreme Court and hears a number of civil cases brought before it by other courts within the land. One of the major roles played by the high court of appeal of England and Wales is the supervision and directional leadership it has over other subordinate courts below (Gillespie, 2007). As a major court within this judicial jurisdiction, the court has three branches tasked with different roles and responsibilities. The Queen’s Bench division, the family division and the chancery division are the

The choice of PMM word report Coursework Example | Topics and Well Written Essays - 500 words

The choice of PMM word report - Coursework Example The reason for the choice of Prince2 methodology in Solent University is because it gives the project managers and directors the ability to manage the resources and project risks more effectively. Prince2 methodology also provides an organized framework of the project from the start to the end though it allows management of any deviations from plan and flexible decision points. Prince2 involves the management and the stakeholders at the same time thus providing proper communication channels between the project managers and the rest of the organization.Considering the amount of time and the funds set aside for the project, Prince2 methodology should be considered because it ensures proper budgeting and the project doesn’t run over the specified time (Office of Government Commerce, 2009). It consists of 5 phases in the project’s life cycle. These phases are covered by 8 processes namely; directing the project, planning, starting up the project, initiate the project, controlling, project delivery, managing boundaries and closing the project. Starting up a Project- The project managers ensure that all the required resources are available.The managers will hire an office, computers, furniture and other facilities to run the project and appoint the required staff. Closing the Project –the managers ensure proper termination of the project and checking the project has delivered all the required deliverables. The managers ensure that the university website provides all the intended functions. The website for Solent University will be developed using the waterfall model for the Software development life cycle (SDLC). The Water fall model is the simplest Software development life cycle. It is made up of 5 phases that are linearly organized. The 5 phases of the waterfall model are requirement analysis, system design and specification, coding and verification, testing and integration and maintenance. The

Social Networking Sites Negatively Effect Adults through the Windows Research Paper

Social Networking Sites Negatively Effect Adults through the Windows of Privacy, Productivity, and Health - Research Paper Example This will drastically cut the incidents where their information is stolen or used without their permission (Collins 2008) C) The effect on productivity and overall performance is significant. Many workers have been found wasting their time while surfing and using these social networks. Numerous steps have been taken to curb its use on the internet (Das & Sahoo 2011) D) Psychological and behavioral changes due to the excessive use of Social networking sites have been observed and the most prominent one is the addiction to it. Also many people have been found to become reclusive from the society and more prone to interacting through these websites (Mackey 2009) 3. In summation, the excessive use of these social networking websites has affected many users considerably. The effects of its usage are on both on the body and mind. Social networking sites negatively affect adults through the windows of privacy, productivity, and health The rapid adoption of the social network services has re sulted in numerous researches and surveys being conducted to understand its effects on the personal and social behavior of a person. Also its excessive use has resulted in many adults facing issues of privacy and breach of security when it comes to their information. Many social network service companies are now offering better and improved services that include reading comics, playing games, and better communications with your connections and many other features, which has resulted in a negative influence on the productivity of the individuals. Many offices worldwide are simply banning Facebook and other famous social networking websites on their premises so that the employees should focus on their work. One of the most detrimental effects of social networks that have been observed is on the health of the users. It has been now attributed to psychological and behavioral changes in many users and is considered to be a health hazard in case of excessive use. This paper will try to ev aluate whether social networking sites have a negative influence and impact on the privacy, productivity and the health of many adult users (Boyd & Ellison 2007). Since their inception Social network services have changed or revolutionized the way we communicate on the internet. People who start using social network services will initially do so for many reasons, but the basic motivation is to start communicating and sustaining relationships. A social network service can be defined as a service that assists people to create their own profile on the internet which they can either make public or semi public. Apart from this, the social network service will also allow users to connect with people they know or share the same interests with. The social network services serve as a platform on which people can view and find new connections and also view their friends and family connections making it transverse and interconnected (Boyd & Ellison 2007). Social networks have been widely criti cized for privacy concerns. When a person creates their page or account on a social network, they are required to fill in some information for their public profile. But there are great variations in the level of privacy offered by numerous social networks.

Ethical Issues Essay Example | Topics and Well Written Essays - 1500 words

Ethical Issues - Essay Example Society of Professional Journalists 2). With each of these, there are more particular codes that need to be followed by journalists. Thus, violations of ethics and guidelines led to various ethical issues that journalism profession is facing today. This paper aims to discuss two ethical issues in journalism, which include bribery and extortion. Bribery and Extortion According to the Center for International Media and Assistance (CIMA), bribery and extortion are considered as the most crucial issue in journalism (Nyaira 300). Bribery means the act of accepting or offering some benefits either cash or kind to a certain employee or public servant. In journalism, it is called envelopmental journalism or accepting bribes in exchange for favorable media coverage. On the other hand, extortion is related to bribery, but the only difference is that extortion is the act of obtaining something like money by force or blackmail (Shava 4). Examples of Bribery An editor of a famous newspaper public ation accepted money from a government official who committed corruption. The money serves a bribe instead of exposing the official’s wrongdoing; the editor wrote some accomplishments and projects done by the official to cover corruption issue. In this case the editor is not fair, honest, and accurate. Most of all, the editor did not act independently, which is a violation of ethics. ... Examples of Extortion According to a report, Zimbabwe journalists already disregard ethics since their government already controls what news to write and how to write them. They are forced to do so since their lives are threatened. Politicians only speak to those media outlets they support (Shava). As a consequence, journalists no longer comply with principles of accuracy, fairness, and honesty in writing news stories since they are writing articles based on what is being instructed. Conclusion Ethics is very important in every profession. Journalism as one of the noble careers also has set of ethical principles which need to followed. However, not all journalists sincerely follow the principles of accuracy, fairness, and honesty as it affected by several reasons. Bribery and extortion have become the most crucial ethical issues in journalism. Journalists voluntarily accept bribes in exchange for favorable media, which is called bribery and others like in Zimbabwe, are forced to do s o since they are threatened by politicians. Ethical Issues in Advertising Advertising refers â€Å"to any paid form of personal or non-personal presentation of promotional ideas, products or services by the use of media like TV, radio, magazines, newspapers etc by an identified person† (Kaptan 8). According to Yeshin, advertising is essential because it helps the people to select a particular product. Since it has a great impact on consumer behaviour, advertising like other fields also has a set of ethical standards, which need to be followed. Businesses need to be honest, fair, and straightforward in advertising products or services (American Advertising Federation 4). Violations of these will lead people to wrong direction. Nevertheless, not all companies

Strategy Management Essay Example for Free

Strategy Management Essay 1. Current situation overview Nowadays, the world video games market has become conspicuous and profitable, resulted by rapid increase of amount by video games players. The key assessment for winning in video games market is to attract the consumers to buy and focus. Meanwhile, the current situation of video games industry has become more competitive, which dominated by Nintendo Wii, Microsoft Xbox 360 and Sony PlayStation 3. This case sketches a framework of video games historical development for past a few decades and the future strategic prospection by Nintendo Wii, Microsoft Xbox 360 and Sony PlayStation 3. In addition, this case also describes the innovations and course of actions for broadening the market share holding by Nintendo, Microsoft and Sony. Moreover, those companies have renewed their own console generation and technology in order to gain competitive advantages in the video games market. During the recent stage of video games development, the players are not only focusing on ‘just playing a game’, but also they will consider the games’ design, art, animation and quality assurance. 2. Summary of macro environment analysis The macro environment analysis is relevant to the long-term strategic thinking which focus on the factors in the wider environment, those factors include economic, political, social, demographic, international, sustainability and technological. The purpose of the macro-environment analysis is to summarize the complex and uncertain information in particular the company impact by macro-environment to figure out the demand for products and service in the market. Determining the macro-environment is the way that firms in an industry produce and distribute their outputs, and the way in which organizations are able to compete with one another (Hubbard, Rice Beamish 2008 p. 76). In addition, macro-environment analysis is also able to distribute the product and service and establish the trends for the future development of the industry (Haberberg and Rieple 2008, p.105). Those factors concerned have been analyzed in appendix 1, also including the determent of effects on the industry growth (positive or negative). 2.1 Economic factor By viewing the analyzed contents in appendix 1, overall information analyzed  has been demonstrated that the current economic situation for the video games industry is definitely seems to be worse because of the economic recession worldwide. The trend of the purchasing power for video games console seems to be downwards by recent years because of the decrease of people’s disposable income. Furthermore, generally considering the reasonable inflation of raw material and hardware accessories is getting higher and higher, which may result to the cost for consoles is increasing. 2.2 Political/legal factor â€Å"Political factors define the legal and regulatory parameters within which firms must operate (Pearce Robinson 2009, p.97). These affect the business and its managers to a great extent. As the political factors analyzed in contents of appendix 1, it is expected to have a negative effect on future industry growth. For instance in China, the government has issued the regulation on video and online games, which has limitation for playing by 4 hours per day which people who under 18. People must make a registration via internet by updating their identification card number, real names and address who under 18. Considering most of the customers with video games are 17 to 33, this regulation may have negative impacts on the video games industry. Additionally, the government also issued the violence restriction in the video games market, which classifies the violence level to the games, in order to protect the children to avoid aggression and violence. However, as the fact that, according to the evidence showed by Dietz (1998, p.425), nearly 80% of the video games includes aggression or violence as part of the strategy or object. While 27% of the games contained socially acceptable aggression, nearly half included violence directed specifically at others and 21% depicted violence directed at women. According to the establishment showed as above, most video games contains huge amount of aggression and violence contents, the government regulation should have negative impact on video games industry growth beyond reasonable concerns of mental protection for children. 2.3 Social/cultural factor As this part of factors impact by social and cultural, this part probably does not have too much impacts whether positive or negative on industry  growth. Accomplishing with the globalization over the world, video games are hot and popular in current stage of period in development. Focusing on this circumstance, the video game industry tends to design the games with cultural diversity and culture preference. For instance by Xbox 360, has designed some games which suitable for some countries under preference, such as some sports games like NFL in US, AFL in Australia. Furthermore, Sony also designed a game ‘Dynasty Warriors’, which describes a real history in ancient China, a dynasty with disorder. Moreover, some cultural factor by religion difference must be also concerned for the industry growth. Actually in some countries, such as some mid-east countries, the violence games are banned under religion efforts. 2.4 Demographic factor By reviewing this part of analysis, the demographic factor should be considered with population, gender and age, and indeed have positive effect on the industry growth. The video game industry is now attempting to look for their ‘new’ players belonged. The industry has been designed more different types of games which suitable for women and even the elder. The trend of impact by demographic factor is rapidly increasing by recent years in particular with the demand by women and the elder for video games. As the fact that has been mentioned before, the most video game consumers is 18-44, now, the new strategy for broadening the consumer base is now expected and being concerned by the video game industry. This may contribute to increase the population by playing video games, which may result to increase the sales of consoles. In fact, Nintendo, Microsoft and Sony have also focused on difference breakdown by gender and age, which means that to make the games be varied and mu lti-suitable for people. 2.5 International factor Globalization has been contributed to the success for video game industry, which breakdown the trade barriers between countries. In fact, according to Consalvo (2006), the video game industry and culture can be recognized in the transnational corporations that contribute to its formation and development, which contribute to the cultural exchange between countries. This also advantages to the video games industry which has positive effects  on industry growth because the games may become more acceptable for the people who under different cultural background. 2.6 Sustainability factor This factor is considering the sustainability of the video game industry in future. In fact, the video game entertainment absolutely has many substitutes. Therefore, the trend for the industry development maybe seems to downward in future depend on the changing and unpredictable people’s favors. People have rights to select their own favors to entertain as they want, such as sports, karaoke, twitter, and facebook. Moreover, the current video game market situation is likely to be saturated, which Grand (2010, p.687) states that, almost 40% of the US households have their own consoles, which means that the industry must spend huge amount of money to renew the consoles annually to keep their products be competitive and preferable in order to make the console be ‘sustainable’. 2.7 Technological factor Technology is the most significant factor which must be considered by the video games industry. From the evaluation by the appendix 1, the industry growth displayed an overall negative effort on the video game industry. In fact, a console generation renewing must spend nearly a decade period from structuring to publishing, which spend too much time and money to renew. Despite the huge cost and longtime preparing on console renewing, even the games titles also must be spend a lot of time. Actually, according to the study by Grant, (2010, p685) there are some evidences to show that a new title game which from designing to publishing, approximately taking 18-36 months to complete based on a new platform. Comparing with the ‘big 3’ in this case, they have their own advantaged areas in technology development. For instance, PS3 has Blu-ray DVD strategy on their consoles, which have fantastic game’s feature, Xbox 360’s positioning eschewed technology in favor of versatility, design and hardware’s multifunctionality, Wii even lacked the advanced features of either the Xbox 360 or PS3, but its remote wand-like controller is innovative and easy learning, which can concludes that overall the advantaged area by the ‘big 3’, is based on the technology support, which means that the technology factor is quite significant to the  video game industry. Therefore, the trend of impacting power by technology is increasing. 3. Summary of industry environment analysis Michael Porter claims that the five competitive forces influence the state of competition in any industry, and collectively determine the profit potential of the industry as whole (Hubbard, Rice Beamish 2008). The purpose of the industry analysis is to determine the ultimate profit potential in the industry, where profit potential is measured in terms of long-run return on invested capital. 3.1 Threats of new entrants There are some sufficient evidences which demonstrate that the threats of new entrants are extremely low. In fact, the video games industry is dominated by the ‘big 3’ in this current stage of period. PS3, Microsoft and Nintendo have their own loyalty with the brand, which ensures the consumers’ confidence on their product. On the contrary, the new entrants do not have such brand loyalty as the ‘big 3’ does. Consumers maybe have less confidence rather than PS3 or Xbox 360 on the product quality. In addition, the ‘big 3’ has incomparable advantages, which leading in technology and experience on software development. Furthermore, the capital of equipment and technology cost huge amount of money, the ‘big 3’ have their own experienced and professional designing team for innovation and technological development. New entrants are difficult to maintain and develop their business unless sufficient finance supports. 3.2 Bargaining power of suppliers The overall impact raking for bargaining power by the suppliers is high, based on the appendix 2 bargaining power of suppliers’ analysis. In fact, the supplier also called publisher is few and monopoly in the video game market, which result to the profitability with the supplier. The publishers are responsible for financing, manufacturing, marketing and distributing video games. Grant (2010, p.688) also states that video game publishing is increasingly dominated by a few companies, such as electronic Arts, Konami, take-two Interactive and Activision. This may contribute to the suppliers  have more powerful bargaining power to the industry. In addition, the supplier has low switching cost in the market. 3.3 Bargaining power of buyers The consumers have low switching cost on the products, which depends on the product’s quality, price and product preference by the consumers. Moreover, the video game industry must also be aware the other entertainment, which have possibility to substitutes the video game industry. Furthermore, the buyer profitability factor is considering with the buyers’ disposable income, if the income is high, the bargaining power by the consumers is high, otherwise is low. As the fact that, the current situation for the economy is worse and unemployment rate is getting higher, thus the buyers are seem to be unprofitable, indeed the bargaining power for buyers is low. 3.4 Power of substitutes The power of substitutes is strong, which displayed by the competition between PS3, Xbox 360 and Wii. The ‘big 3’ companies have dominated the video game market and attempt to gain competitive advantages via using their innovative ideas and technology. The most important factor considered by the consumers is the products’ price and quality, focusing on this concern, the Wii may win in the market by sales because of the cheaper price of consoles. However, it not means that the Wii can substitute either Xbox 360 or PS3. Actually, the key assessment for winning in video games market is to catch the consumers’ propensity. Furthermore, despite the internal competition by the industry, also the other entertainments have possibilities to substitute the video game industry. Thus, it is difficult to predict the video game whether may be substituted in the future. 3.5 Intensity of industry rivals It is absolutely high barriers to exit in the video games industry, unlike the PC games industry. According to the study by Williams (2002, p46), which states that PC games manufacturing fees are significantly lower versus console games, because PC games need only CD duplications, a jewel box, instructions and a box, typically $2-3 total per unit. However, comparing with the PC games industry, console development requires ‘development kit’  typically costing $10 to $20 thousand. In addition, Grant (2010, p688) also mentions that the huge cost by video games development is result of the demand for multi-featured, which contribute to the significant cost on technological talents hiring, equipment cost and advertising. Thus, video games industry must be high barriers to exit because of the significant cost efforts. 4. Interconnections between macro-environment analysis and industry environment analysis Reviewed to the above macro-environment analysis and industry environment analysis, there are some interconnections between them, which are sustainability factor, related to the presence of substitute inputs. This highlight must be considered by the video game industry, because the preview of sustainability to the industry development is quite important. The key assessment for the industry development is to keep their products ‘un-substituted’ and competitive. Therefore, the industry must focus on the innovation and technological development by their games and console in order to keep the video game ‘long-being’ for the future. 5. Recommendation Technology and innovation play a main role in the video games industry. The video game industry is so profitable that many new entrants may want to enter the industry. However, the industry looks like ‘unhealthy’ because PS3, Xbox 360 and Wii have dominated the industry for a decade. Furthermore, the current economic situation is still on recession, and may last a few years. This may contribute the cost of consoles increase, and decrease the sales of consoles result by the people’s income decrease. Actually, it is hard to preview the future of video game development, but, by now, the video game market has saturated, even the technology and innovation is good. Form the figures evaluated by Flacy (2011), the video game sales over July dropped over 25 percent year over year and have fallen to the lowest levels since 2006. Total sales in July 2011 amounted to $707 million while sales just a year ago in July 2010 topped $960 million. The reasons for the decline by sales should be varied, as mentioned before, which causing by the economic recession and market saturation. Moreover, the people’s favors may  also change; video game playing is not the only way for people to entertain because people can entertain by the other ways. Thus, the video game industry development is getting tough and unpredictable for the future, even the recession has over. Appendix 1 – details of macro-environment analysis Environment factor| Comment| Effect on industry growth| Economic factor| | |  global finance crisis| Widely impact on the manufacturing industry| negative| inflation| price of raw material and console accessories increased, result to the cost increase| negative| Economic recession| People’s disposable income decreasedreducing purchasing power| negative| Overall: negative| Political/legal factor| | | Government issue for video game violence| Legislation for classifying the amount of violence under age. | negative| Regulation for playing limitation| Time limitation for playing under 18 | negative| Overall: negative| Social/cultural factor| | | Multiculturalism| Different cultural background’s people may have different type of favors on video games| Positive| Religion| Some violence games is restricted by some countries under religion efforts| Negative| Overall: medium| Demographic factor| | | Population numbers| Attracting more ‘new’ consumers possibly. Attracting more customers means increasing sales.| positive| Gender difference breakdown| Designing more games which suitable for women playing, make the games be varied.| positive| Age difference breakdown| Video game is not only designed for 18-33, which could possibly consider to attract some aging player| Positive| Overall: positive| International factor| | | Globalization| Reducing the trade barriers for games imports and exports| positive| Overall: positive| Sustainability factor| | | Substitution by other entertainments| More and more entertainments can substitutes the video games, such as sports, karaoke, twitter, facebook etc.| negative| Strikes by online games| Computer games are seemed more popular and preferable.| Negative| Market saturation| More and more rivals tend to enter the video games market to gain advantages.| Negative| Overall: negative| Technological factor| | | Lack by renewing generation| Console generation needs to spend a lot of time and money for generation renewing| negative| Long time for designing a new title game| Taking 18-36 months to complete a new title based on a new platform | negative| Console generation (PS3)| Fantastic games’ feature (HD) based on Blu-ray drive technology.| Positive| Console generation (Xbox 360)| Large amount of titles by games, multifunctionality based on high-technology support.| Positive| Console generation (Wii)| Easy to control, hand movement based on their innovative ideas and technology. | Positive| Overall: positive| Appendix 2 details of industry environment analysis Items| Issue analysis| Impact ranking: extremely low, low, medium, high extremely high.| Threats of new entrants | | | Product differentiation| If a company wants to survive even win in the competitive market, a unique product with considerable difference must be offered. Wii, Xbox 360 and PS3 has achieved this as well| Extremely high| Brand loyalty| Company must have their own brand loyalty which can prevent new entrants from making their way into the market. Wii, Xbox 360 and PS3 have extremely great loyalty with their brand.| Extremely high| Economic of scales| Wii, Xbox 360 and PS3 have large sales on their product every year. It is tough for new entrants to have such huge finances to fund | Medium| Capital equipment and technology development| Wii, Xbox 360 and  PS3 have their own experienced and professional designing team for innovation and technological development. New entrants are hard to maintain their business unless sufficient finance supports.| High| Government policy| Many industries are either owned or regulated by the government, causing barriers for entry.| high| Overall: extremel y high | Bargaining power of suppliers| | | Switching cost of suppliers| The switching cost of suppliers is low| Medium| Supplier concentration| The supplier will have strong bargaining power if there are only a small number of suppliers. (monopoly) There are some publishers for the video game industry (electronic Arts, Konami, take-two Interactive, Activision etc.)| high| Information about suppliers’ product| The suppliers should be aware their product (consoles, software and title games), as these suppliers have minimal competition, they hold strong power and influence.| Low| Supplier profitability| Suppliers are able to bargain because there are few rivals and highly profitable nature. | Extremely high| Overall: medium| Bargaining power of buyers| | | Switching costs of buyers: | Switching costs of buyers is low; the power of buyers will be high. Buyer can easily switch to a rival product, which depends on the products’ quality and price and there are almost no switching costs for customers| Extremely high| Buyer concentration: | The number of buyers is related to whole industry. Massive numbers of buyers on video game industry. | Medium| Presence of substitute inputs: | The ‘big 3’ is not just competing against with each other, they are also competing against other entertainment, such as online games and twitterThere are lots of substitute are present to convert the buyer| Extremely high| Buyer profitability| If the buyers are unprofitable, they are unable to bargain.Since economic decrease and high levels of unemployment, people will be entertaining less.| High| Overall: high| Power of substitutes| | | Relative price/quality of substitutes| Wii, Xbox 360 and PS3 although have their own specialties and advantages in different areas, but substitution is  also available and possible. It depends on price and quality of the console.| Extremely high| Buy propensity to substitutes| Video games market is huge, customers tend to be varied. The key assessment for winning in video games market is to catch the consumers’ propensity. Develop their own advantaged area, and create a new strategic to attract the new customers.| Extremely high| Switching cost| The ease of buyers switching products.It is very simple for the customers to switch to a different product as it cost them less and with similar experience.| High| Overall: extremely high| Intensity of industry rivals| | | Industry growth rate| Growing rapidly in recent years, but grow slowly now because of the economic recession. However, the trend is positively growing.| Extremely high| Exit barriers| Significant exits costs because the capital to enter the industry is so high (including technological talents hiring, equipment cost and advertising) and spends too much time for preparing. | Extremely high| Overall: extremely high| References Consalvo, M 2006, ‘Console video games and global corporations Creating a hybrid culture’ viewed 28 August 2011 http://nms.sagepub.com/content/8/1/117.short Dietz, T, 1998, ‘An Examination of Violence and Gender Role Portrayals in Video Games: Implications for Gender Socialization and Aggressive Behavior’ Volume 38, No. 5-6, p425-442 Flacy, M, 2011, ‘NPD: Video game sales in July fall to the lowest level in five years’ viewed 29 August 2011 http://www.digitaltrends.com/gaming/npd-video-game-sales-in-july-fall-to-the-lowest-level-in-five-years/ Grant, R.M., 2010, Contemporary Strategy Analysis, Sussex. Wiley p.680-691 Hubbard, G, Rice, J Beamish, P, 2008, Strategic Management: Thinking, analysis and Action, 3rd edition, Pearson Education, Australia. Haberberg, A, Rieple, A 2008, Strategic Management: Theory and Application, Oxford University Press, NY. Pearce, JA 2009, Formulation, implementation, and control of competitive strategy, 8th edition, McGraw-Hill, America, New York. Williams, D, 2002, ‘Structure and Competition in the U.S. Home Video Game Industry’ the International Journal on Media Management Vol. 4, No. 1, p.41 – 54

Impact of House Prices on the UK Economy

Impact of House Prices on the UK Economy What happens to house prices is perceived as being very important for the wider UK economy (at the moment the concern is that they may fall sharply). Consider to what extent house prices are important for the UK economy and how the government (or Bank of England) should respond to a sharp fall in house prices. Introduction The health of the residential property market is seen as a very important factor in the UK economy, and house prices have risen dramatically (though unevenly around the country) between 1996 and 2005. Some analysts argued that this was the result of a ‘bubble’ in the housing market, rather than due to purely economic reasons, while others argued that the rise in prices was a rational reaction to high employment, economic stability and low interest rates. The price rises slowed in 2005 and that led some analysts to predict a sharp fall in prices. These fears proved unfounded, as renewed growth since late 2005 has led most analysts to predict modest price rises in the medium term. However, many analysts remain concerned that housing prices may fall sharply in the near future. This essay will first consider the different ways in which house prices in an economy relate to (and impact on) the performance of that economy more broadly, outlining in particular the specificities of the UK housing market that make its prices especially important to the UK economy. It will then examine the policies the government (or Bank of England) could adopt in response to a sharp fall in house prices, assessing which of these would be the most appropriate. Finally, it will also consider some longer term policies which could reduce house price volatility and the impact of house prices on the wider UK economy. The relationship between house prices and the wider economy The most obvious way in which house prices affect the wider economy is through their impact on household consumption (Cameron 2005:4) – a fall in house prices, for example, makes homeowners feel less wealthy so they tend to reduce consumption. Furthermore, a fall in house prices also reduces consumption indirectly by making it harder for people to borrow. Credit constraints are increased through two key channels: (1) reduced house prices means homeowners have reduced collateral against which they can borrow, further reducing consumption; and (2) lending institutions make losses when housing prices fall, and so they reduce their lending or tighten their lending policies. According to Oswald (1999:2), ‘an economys natural rate of unemployment depends on the ease with which its citizens can move around to find jobs. Fluid societies have efficient economies.’ High house prices and a relatively small private rental market make it more difficult for people to move around to find jobs, and thus can contribute to unemployment. House prices can also have an indirect effect on the exchange rate, which is a particular concern because it may lead to a crash in house prices. High house prices contribute to high levels of household indebtedness which can be associated with increasing the current account deficit. This, in turn, may suddenly trigger a correction in the exchange rate. If the exchange rate is weakened, a sharp rise in inflation and interest rates may follow, leading to a sharp fall in house prices. House prices and the UK economy According to Cameron (2005:3), the high level of house ownership in the UK means that households are ‘exposed to a considerable amount of risk (almost half a million households had their homes repossessed in the 1990s).’ Not only are house prices more volatile in the UK than elsewhere in the developed world, the impact of house prices on consumer spending is also particularly heavy in the UK – according to the OECD, a 1% fall in UK housing wealth correlates with a 0.07% fall in consumer spending. The nature of the UK housing market (typically high loan to value ratios, few long-term fixed rate mortgages, and easy to re-mortgage) makes house prices particularly volatile and responsive to interest rates. Cameron (2005:3) explains that ‘a one percentage point rise in the short-term real interest rate would reduce house prices over a five year period by 2.6% in the UK, 1.8% in the US, and 1.3% in Germany.’ The UK housing market is characterized not only by a high level of home ownership and typically high loan to value mortgage ratios, but also by an insufficient housing supply. Demand consistently outstrips supply and the market is not sufficiently responsive, primarily due to the limited land available for construction and the difficulties in obtaining planning permission for new buildings. ‘Constrained housing supply leads to increasingly unaffordable housing, frustrating the home ownership aspirations of many individuals and families. It also leads to wealth redistribution from those outside the housing market to those inside it. Low housing supply reduces labour mobility, damaging the flexibility and performance of the UK economy and key public services, and can also translate into wider macroeconomic instability.’ (HM Treasury 2005:9) Barker (2004:3) explains her view of the importance of the housing market to the UK economy more broadly: ‘Volatility in the housing market, in the UK, combined with the strong association between house prices and private consumption (reflecting in part high levels of owner occupation) is striking. Consequently, the housing market has contributed to macroeconomic volatility, creating a more difficult environment for businesses and for economic policy makers.’ Responding to a sharp fall in house prices In order to respond to a sharp fall in house prices, the main tool which the government or central bank has at its disposition is monetary policy. If there is a sharp fall in house prices, consumption can be expected to drop (as per the relationship between house prices and consumption outlined in the first section of this essay) and there is a danger that a recession with ensue. In order to prevent this, the Monetary Policy Committee of the Bank of England should respond to any such fall by reducing interest rates, even though this may not be compatible with meeting their inflation target. This should help house prices to grow again, thus building up wealth and promoting consumption. Further, it will make credit more accessible which will also encourage consumption. Longer term policies Rather than being forced to respond to a sharp fall in house prices, the British government, or the Bank of England, would be better off developing longer-term strategies to prevent such a sharp fall in the first place – that is to say, they should be proactive rather than reactive. Cameron (2005:4) argues that it may be possible to make the UK housing market behave more like the US housing market (i.e. to make prices less responsive to interest rates and less volatile) ‘if the share of long-term fixed-rate mortgages could be increased (even when UK borrowers do take out fixed-rate mortgages, they tend to only fix the rate for three to five years).’ According to the OECD (2005:3), the risk of a sharp fall in house prices has been significantly reduced, and this has been achieved by longer term monetary strategies. ‘If a relatively â€Å"soft landing† in the housing market has indeed been achieved it owes much to the strategy of gradual preemptive monetary tightening, in marked contrast to previous episodes when an abrupt correction in house prices was triggered by sharp interest rate rises. Nevertheless, reforms are needed to make housing supply more elastic to damp future housing market cycles.’ Furthermore, Miles (2004:97) argues that in order for monetary policy to be most effective in stabilizing the currently volatile housing market, the UK mortgage facilities also need to be improved, and borrowers should be better informed. Conclusion Because house ownership levels are high in the UK, and because houses represent most households’ biggest asset, house prices are particularly important to the UK economy. As it currently functions, the UK housing market is insufficiently flexible to respond to, and reflect, the needs of the economy as a whole. Fortunately a drastic fall in house prices is unlikely in the near future. To prevent one in the medium to long term, the government should consider increasing the flexibility of the housing market. This could be achieved through relaxing planning regulations and adapting the mortgage market. References Barker, K. (2004) ‘Review of Housing Supply: Delivering Stability: Securing our Future Housing Needs’, Final Report – Recommendations (downloaded from http://www.hm-treasury.gov.uk/media/053/C7/barker_review_execsum_91.pdf on 26 February 2007) Cameron, G. (2005) ‘The UK Housing Market: Economic Review’ (downloaded from http://hicks.nuff.ox.ac.uk/users/cameron/papers/ukhousingmarket.pdf on 22 February 2007) HM Treasury (2005) ‘Housing Policy: An Overview’ (downloaded from http://www.hm-treasury.gov.uk/media/296/69/housing_policy190705.pdf on 26 February 2007) Miles, D. (2004) ‘The UK Mortgage Market: Taking a Longer-Term View’, HMSO (downloaded from http://www.hm-treasury.gov.uk/media/80DDF/miles04_470.pdf on 22 February 2007) Muellbauer, J. Murphy, A. (1997) ‘Booms and Busts in the UK Housing Market’, The Economic Journal, Vol. 107, No. 445. (Nov., 1997), pp. 1701-1727 OECD (2005) ‘Economic Survey of the United Kingdom, 2005 (downloaded from http://www.oecd.org/dataoecd/18/34/35473312.pdf on 24 February 2007) Oswald, A. (1999) ‘The Housing Market and Europes Unemployment: A Non-Technical Paper’, Warwick University (downloaded from www2.warwick.ac.uk/fac/soc/economics/staff/faculty/oswald/homesnt.pdf on 27 February 2007) Wadhwani, S. (2002) ‘Household Indebtedness, the Exchange Rate and Risks to the UK Economy’, Bank of England speech delivered to the Macclesfield Chamber of Commerce on Monday, 25 March 2002 (downloaded from https://164.109.43.50/publications/speeches/2002/speech166.pdf on 22 February 2007)