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Our module consists of two parts: 1) leave your own answers and 2) leave your comments to your classmates’ answers (e.g., pick at least two students and leave your comments to their two questions).Question 1. Find the name of the two curves in the figure.Question 2. Which of the following illustrates diminishing returns? Explain why?a. B to C, b. C to D c. A to D Question 3. Explain what leads to shifts in the productivity 1 curve to productivity 2 curve in the figure.Question 4. (Share your thoughts with your classmates) Explain the time period that our economy experiences the highest rate of productivity growth . ********I will send the pictures when expect the post
ECON 226 Diminishing Returns and Productivity Growth Questions
An overview of New Zealand: History and culture
An overview of New Zealand: History and culture. This paper is a report on the various factors that make up New Zealand. You will find discussions of the history, significant locations, government, economy, tourism, and food. History New Zealand became a recognized location in 1840 when the British made it part of their empire (History, n.d.). The Maori people were the first inhabitants of the islands in the tenth century, but they were flooded by the British culture later on. New Zealand was first discovered by European explorers in 1642; however, then encounter ended in bloodshed. The next meeting took place over one hundred years later in 1769 when both the French and British arrived without each other’s’ knowing. They began trade with the Maori people, who valued highly the arrival of weapons and began the Musket Wars among enemy tribes (The History, 2014). The British developed their plans to colonize New Zealand as they heard rumors of France’s similar ideas (The History, 2014). In 1840, many chiefs signed the Treaty of Waitangi with the British Crown. This established British law in New Zealand and created a large basis for what the country is known to be today (History, n.d.). However, with the large influx of British settlers, many hostilities grew and began the New Zealand Wars, or the Land Wars, for twenty years. By 1870, Britain withdrew its troops, “not wishing to invest any further in a costly overseas war which was likely to continue indefinitely” (The History, 2014). Today, “New Zealand…is an independent nation within the British Commonwealth” (The History, 2014). This means that although the country is under the British Monarch, New Zealand has its own active administration for government (The History, 2014). Map (NZ Map, 2014) Government “New Zealand is a democratic country in which the Members of Parliament (MPs) are chosen in free and fair elections” (NZ’s System, 2014). Parliament is made up of the House of Representatives and the Governor-General. The House of Representatives consists of 120 members, while the Governor-General is a representative of the Queen. The 120 members are elected by vote and are allowed in office for a term of three years. They hold the New Zealand government accountable for its actions and policies and pass laws over the unwritten constitution. New Zealand is defined as a constitutional monarchy, and so they have Queen Elizabeth II as the Head of State. The Queen and Governor-General “remain politically neutral and do not get involved in the political contest” (NZ’s System, 2014). New Zealand also has lower levels of government bodies, such as territorial local authorities, district health boards, and school boards of trustees (NZ’s System, 2014). Economy With a population of around four and a half million, their current GDP is around $132 billion at a 2.5% growth (New Zealand). A third of this GDP is made up by the export of goods and services. New Zealand’s economy runs on free market principles through a mixed economy. Its three largest economic sectors are manufacturing, services, and agricultural (Overview, 2014). New Zealand’s currency is called the Kiwi dollar and was “amongst the top 25 sovereign currencies in the world” at the end of 2012 (Economic Overview, 2014). Today, the Kiwi dollar equals about $1.29 in US Dollars (Rates Table, 2014). Visiting Cities Auckland – While it is the largest city in New Zealand, home to over one and a half million people, it is not the capital. Auckland is located near the top of the North Island and is the main transport hub into the country. Its location touches into beaches and rainforests, but also volcanic areas. The region has 48 volcanic cones, which provide for great views of the city and harbor (Destinations, n.d.). Rororua – This city is south of Auckland, but is still on the North Island. “Rotorua is known for bubbling mud pools, shooting geysers and natural hot springs, as well as showcasing [their] fascinating Maori culture” (Destinations, n.d.). The bubbling mud pools are caused by the Pacific Rim of Fire: a “geothermal wonderland.” With the surrounding nature, Rotorua is a home-away-from-home for many adventure activists. It has world-class mountain bike trails, as well as horse riding, lake swimming, bungy jumping, ziplining, and more (Destinations, n.d.). Napier – This city is located within Hawke’s Bay of New Zealand. It is known mostly for its art, architecture, culture, and history of the 1930s. The reason for this is that an incredible 7.9 earthquake hit Hawke’s Bay destroying a vast majority of Napier’s buildings and killed almost 260 people. “Rebuilding began almost immediately, and much of it was completed in two years” (Destinations, n.d.). Wellington – According to Lonely Planet, Wellington is “the coolest little capital in the world.” It is located at the southern end of the North Island touching the harbor. It is known for its arts and heritage with many museums, art galleries and theatres. This city continues the adventure with more mountain bike trails and kayaking. New Zealand’s national museum, Te Papa Tongarewa, is located in Wellington too (Destinations, n.d.). Christchurch – This city is fairly large taking over a majority of the middle of the South Island. It lies along the ocean and touches the Alps. To the 340,000 residents of the city, it is known as ‘The Garden City.’ While this location continues the historic beauty and forest-filled adventure, much was destroyed in 2011 from an earthquake. A large portion of the neo-gothic architecture in the central city was ruined along with many other buildings. Despite the destruction, Christchurch still hosts much beauty and fun. A special attraction is the Orana Wildlife Park, which is an open range zoo (Destinations, n.d.)! Queenstown – This is the southern-most city to be visited on the trip in the South Island. According to New Zealand Tourism, Queenstown has become “world famous for its iconic scenery, friendly people, golf courses, wineries…bungy jumping, sky diving, canyon swinging, jet boating, horse trekking, and river rafting all year round” (Destinaitons, n.d.). Currently, most notably, area around Queenstown is recognized as the makings of Lord of the Rings, with locations that helped to create Middle-earth. Queenstown is clearly the most visited location in the country with a population of 19,200, but over two million visitors every year (Destinations, n.d.). NZ Tourism In 2011, New Zealand hosted over two and a half million visitors, and has expected that number to grow by over 650,000 each year (Tourism Factsheet, 2012). With tourists from around the world, there are some key differences to New Zealand (Key NZ, n.d.). The currency is a dollar, but the make-up is different from that of the US. New Zealand has coins valuing 10, 20, and 50 cents as well as $1 and $2 – then bills of $5, $10, $20, $50, and $100. Banking is generally the same and allows for exchanging currencies (Key NZ, n.d.). For driving, the lanes are swapped with drivers on the left side of the road. New Zealand also uses the metric system, where travel is measured in kilometers instead of miles. Other driving laws are the same: must wear a seat belt, no mobile phone usage, and no drinking and driving. Visitors from other countries can drive in New Zealand for up to 12 months with their home country license (Key NZ, n.d.). New Zealand entertainment is made up of three parts: food, spirits, and fun. The cuisine style is tied to mostly Eurasian countries like Thailand, Malaysia, Polynesia, and most of Europe. New Zealand is most well-known for meats like lamb, pork, and venison, as well as seafood such as salmon, crayfish, bluff oysters, mussels, and scallops. The wines of New Zealand are remarkable and are desired around the world. While people in the US must be 21 to drink alcohol, they must only be 18 in New Zealand. Also, unlike than many states in the US, New Zealand has six different casinos throughout the country (Key NZ, n.d.). Aside from all of the scenic adventures in the forests, beaches, mud pools, etc., New Zealand played host to the Lord of the Rings films. “Since 2004, an average of 47,000 international visitors each year have visited a film location” (Sector Marketing, 2013). Another small, but notable difference is the time zone. “New Zealand is one of the first places in the world to see the new day” – being 12 hours ahead of the GMT (Key NZ, n.d.). In comparison to the US, New Zealand is 18 hours ahead. A shocking factor when traveling to and from New Zealand is losing and gaining a day, which happens because of crossing the International Date Line. While this time difference is very large, a similarity is the use of daylight savings time, which a majority of the rest of the world does not use (Key NZ, n.d.). Food Delicacies In the Maori culture, a hangi feast is recommended (Destinations, n.d.). The hangi is a method of cooking, which has been used by the Maori for over 2000 years. To cook the food, it is placed in a pit oven which has heated rocks buried inside. While it is a well-known way of cooking, it has become very traditional and is only used on special occasions. The style of cooking is typically used for chicken, seafood, and vegetables, but can also be used for steamed pudding (FoodAn overview of New Zealand: History and culture
PSYC 2450 Macomb Community College The Pandemic & the Elderly Questions
essay helper free PSYC 2450 Macomb Community College The Pandemic & the Elderly Questions.
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reflect on how the Pandemic has affected our geriatric population, both home bound seniors and those residing in Long Term Care Facilities.
What obstacles do you think Seniors living at home have faced during this Pandemic?
What solutions can you suggest for the problems that you have posed?
What issues have arisen in Long-Term Care Facilities as a result of the Pandemic?
What needs to be done to better serve and protect our Seniors in these facilities?
PSYC 2450 Macomb Community College The Pandemic & the Elderly Questions
Five Forces Model Of The Airline Industry Tourism Essay
The bargaining power of buyers is another force that can affect the competitive position of a company (Porter, 1998, p.48). This refers to the amount of pressure customers can place on a business, thus, affecting its prices, volume and profit potential (Porter, 1998, p.45). The various airlines flying from the Gold Coast airport are competing for the same customer, which also results in strengthening the buyer power. Individuals wishing to travel to and from the Coolangatta airport are presented with various choices when selecting an airline but price is usually the most important factor, especially for students and families. Hence, the bargaining power of customers in the airline industry is very high since they are price sensitive and search for the best deals available. Virgin Blue attracts travellers that are price sensitive by offering them low fares and those that are convenience oriented by providing them with frequent flights. Qantas on the other hand has created a frequent flyer program to create switching costs which may be a significant factor to a traveller when choosing which airline to fly with. In addition to buyers, suppliers can also exercise considerable pressure on a company by increasing prices or lowering the quality of products offered. The bargaining power of suppliers depends on supplier concentration, substitute supplies, switching costs, threat of forward integration and buyer information (http://www.unisanet.unisa.edu.au, 14 April 2008) Suppliers within the airline industry are concentrated since Boeing and Airbus are the main suppliers (http://www.unisanet.unisa.edu.au, 14 April 2008) As the supplier industry is dominated by Boeing and Airbus the concentration undermines the ability of airlines such as Virgin Blue to exercise control over suppliers and earn higher profits. Since Virgin Blue has a fleet of 53 Boeing 737 aircraft its supplier has a high bargaining power over Virgin Blue (http://www.virginblue.com.au/AboutUs/index.htm, April 12, 2008). However, other suppliers who work with the airline such as the providers of on board snacks do not have the same bargaining power as they are a larger industry which allows for Virgin Blue to have a choice over who they are purchasing from. Virgin Blue will purchase their on board snacks from the supplier which is the most economic so Virgin Blue can make a higher profit margin from the goods when they are sold. The availability and threat of substitutes is another factor that can affect competition within the airline industry. It refers to the likelihood that customers may switch to another product or service that performs similar functions (Stahl, M, Grigsby D 1997, pg 145). Substitutes for air travel include travelling by train, bus or car to the desired destination. The degree of this threat depends on various factors such as money, convenience, time and personal preference of travellers. The competition from substitutes is affected by the ease of with which buyers can change over to a substitute. A key consideration is usually the buyers switching costs, however due to their low fare non-stop flights, Virgin Blue, Jetstar and Tiger airways can lure both price sensitive and convenience oriented travellers away from these substitutes. Virgin Blue has actually joined forces with its substitutes, such as car rentals and hotel and tour packages as they believe that these complement the Airline Industry by helping its growth and popularity. No other travel industry has such incentives and these really help the airline industry to a large extent. The final force in Porterâ€™s model is competitive rivalry that describes the intensity of competition between established firms in an industry (Stahl, M, Grigsby D 1997, pg 148). Industries that are very competitive generally earn low profits and returns since the cost of competition is high (Stahl, M, Grigsby D 1997, pg 148). The airline industry is usually characterized by the cut-throat competition that exists among the rival airlines due to its low cost nature. Since the carriers are involved in a constant struggle to take away the market share from each other, industry growth is average and as it is easy for buyers to switch between the airline companies, depending on price, the rivalry is increased. Rivalry is also high in the airline industry due to high fixed costs, as much of the cost of a flight is fixed, there is a great opportunity for airlines to sell unsold seats cheaply, which resolve in pricing wars between the airlines (Hubbard, 2004, pg 38). The airlines are continually competing against each other in terms of prices, technology, in-flight entertainment, customer services and many more areas. The net result of this competition between companies is an overall slow market growth rate. In conclusion we can understand that the airline industry is very competitive and Michael Porters five-forces model can be used to explain why the potential for returns is so low in this industry. Firstly, the threat of new companies entering the industry is high and the entry barriers are low. Secondly, the bargaining power of customers is high since they are price sensitive and search for the best deals. The third force, bargaining position of suppliers, is strong since they are concentrated and this limits the control airlines have over suppliers to reduce prices and earn higher profits. The availability and threat of substitutes is another factor that can affect a companyâ€™s competitive position. However, the degree of this threat depends on various factors such as time, money, convenience and personal preferences of travellers. The final force in Porters model is competitive rivalry between the companies within an industry. Cut-throat competition exists among the airlines and since there is a constant struggle for market share, the over all profit potential of this industry is low.
choose two aspects of enterprise blockchain governance presented in chapter 10 and describe how you think each one could help govern a blockchain environment (and how it differs from a traditional application environment.) Then think of three questions you’d like to ask. choose a security threat from Chapter 11. Then describe the impact of the chosen threat if it would be realized in a blockchain environment, and what you can do to mitigate the threat. Then think of three questions you’d like to ask