Human Factors- Ergonomic Design Term Paper - 1100 Words

Human Factors- Ergonomic Design (Term Paper Sample) Content: Name:University:Course:Tutor:Date:Human Factors- Ergonomic DesignGeneral DescriptionAutomated teller machines are cash machines, which informally called holes in the wall. The device enables users to get access to telecommunication services from financial institutions thus facilitating financial transactions in the absence of human employee. ATMs need the customer to insert a plastic card that uses magnetic strips or chip technology. The card is identified using a unique card number and relevant security information such as a CVVC and expiry date. Authentication is performed using a unique personal identification number.Intended FunctionsATMs are used to withdraw and deposit money into the customers bank account. The customer can also check the account balance and credit the mobile phone. ATMS offer international services when the individuals are in foreign lands where the money is converted using the official exchange rate. The customer is required to forego a transa ction fee that varies from one bank to the other.The use of ATMS has evolved to increase the functions from just money dispensing. They are also used to pay utility bills including legal, water, bills, phone bills and taxes. They are also used to get access to bank statements; however, the bank statement may not be as detailed thus is referred to as a mini bank statement. They are also used to update passbooks and request for cash advances. Modern ATMs also have a cheque processing function. They can also be used to settle credit card debts linked to a given account and transfer money in accounts that are linked.Fully integrated ATMs allow clients to load money into their stored value cards, train cards, lottery tickets, movie tickets and concert tickets. Thus, users can donate money to charities.Feel, Form and Fit of ATMs ATMs are mainly located indoors or in a sheltered place. They are located near areas frequented by many people such as banks, malls, airports, stores, stations an d restaurants (Lnit.org). Many ATMs have a label indicating the bank that owns it whereas on-premise ATMs are located close to the mother bank to complement the functioning of the branch. They have an encryption PIN pad that the user can use to key in the authentication pin. They also have a slot that the user inserts the chip or magnetic card. They have a display to show the transaction as the user carries out the transaction. They are also equipped with a printer that produces a hard copy receipt. Finally, the ATM is equipped with a vault to ensure safety to the money that is provided to the user after request. The vault has a dispensing and deposit mechanisms, security sensors and locks.I am a regular user of the ATM, particularly to withdraw cash to avoid long bank lines. I use the product around twice per week; however, the frequency may fluctuate depending on the money in my bank account and my monthly budget. The projected increase in the functionality of ATMs will lead to an increased frequency of use in the future.Approximate CostThe cost of an ATM ranges from $2000, but the price can go above $4000 depending on the intended functionality and degree of security. The customer incurs a surcharge of around $2.50 when using an ATM that belongs to another bank whereas he/she incurs around $0.5 to withdraw from the users bank (msnbc.com).Design Evolution for different disabilitiesATMs are evolving to offer functionality for people with different disabilities. People with diminished vision can use ATMs since the dial pad has a brail-like number marking that can be used to authenticate the user (Zidbits - Learn something new everyday!). Most ATMs are also standardized in the order of display of different amounts that the user is required to enter. The display also uses a relatively large font that is easily legible; therefore, the user can easily read the word and numerals displayed on the monitor. People with diminished hearing can use visual information tha t is constantly displayed in the screen; however, they may miss sound alerts produced by the ATM such as the alerts that signify an end to the transaction.Most ATMs also cater for people with cognitive disabilities such as low response time, memory and attention disorders. The ATMs produce sounds to signify the beginning and end of the transaction. There is also constant communication with the user such as informing the user to pick and insert the card. The ATM authentication PIN is also relatively short, usually four digits that are easy to remember for the majority of the population.ATMs do not demand a lot of physical strength to insert the card, key in the pin and take the cash. ATMs are conveniently located close to streets thus users may get access to the ATM easily since it does not require a lot of physical mobility. However, people who are vertically challenged may experience difficulties accessing ATMs that have a greater height than a saloon car. Therefore, various improv ements must be made on the ATM design.Redesign Su... Human Factors- Ergonomic Design Term Paper - 1100 Words Human Factors- Ergonomic Design (Term Paper Sample) Content: Name:University:Course:Tutor:Date:Human Factors- Ergonomic DesignGeneral DescriptionAutomated teller machines are cash machines, which informally called holes in the wall. The device enables users to get access to telecommunication services from financial institutions thus facilitating financial transactions in the absence of human employee. ATMs need the customer to insert a plastic card that uses magnetic strips or chip technology. The card is identified using a unique card number and relevant security information such as a CVVC and expiry date. Authentication is performed using a unique personal identification number.Intended FunctionsATMs are used to withdraw and deposit money into the customers bank account. The customer can also check the account balance and credit the mobile phone. ATMS offer international services when the individuals are in foreign lands where the money is converted using the official exchange rate. The customer is required to forego a transa ction fee that varies from one bank to the other.The use of ATMS has evolved to increase the functions from just money dispensing. They are also used to pay utility bills including legal, water, bills, phone bills and taxes. They are also used to get access to bank statements; however, the bank statement may not be as detailed thus is referred to as a mini bank statement. They are also used to update passbooks and request for cash advances. Modern ATMs also have a cheque processing function. They can also be used to settle credit card debts linked to a given account and transfer money in accounts that are linked.Fully integrated ATMs allow clients to load money into their stored value cards, train cards, lottery tickets, movie tickets and concert tickets. Thus, users can donate money to charities.Feel, Form and Fit of ATMs ATMs are mainly located indoors or in a sheltered place. They are located near areas frequented by many people such as banks, malls, airports, stores, stations an d restaurants (Lnit.org). Many ATMs have a label indicating the bank that owns it whereas on-premise ATMs are located close to the mother bank to complement the functioning of the branch. They have an encryption PIN pad that the user can use to key in the authentication pin. They also have a slot that the user inserts the chip or magnetic card. They have a display to show the transaction as the user carries out the transaction. They are also equipped with a printer that produces a hard copy receipt. Finally, the ATM is equipped with a vault to ensure safety to the money that is provided to the user after request. The vault has a dispensing and deposit mechanisms, security sensors and locks.I am a regular user of the ATM, particularly to withdraw cash to avoid long bank lines. I use the product around twice per week; however, the frequency may fluctuate depending on the money in my bank account and my monthly budget. The projected increase in the functionality of ATMs will lead to an increased frequency of use in the future.Approximate CostThe cost of an ATM ranges from $2000, but the price can go above $4000 depending on the intended functionality and degree of security. The customer incurs a surcharge of around $2.50 when using an ATM that belongs to another bank whereas he/she incurs around $0.5 to withdraw from the users bank (msnbc.com).Design Evolution for different disabilitiesATMs are evolving to offer functionality for people with different disabilities. People with diminished vision can use ATMs since the dial pad has a brail-like number marking that can be used to authenticate the user (Zidbits - Learn something new everyday!). Most ATMs are also standardized in the order of display of different amounts that the user is required to enter. The display also uses a relatively large font that is easily legible; therefore, the user can easily read the word and numerals displayed on the monitor. People with diminished hearing can use visual information tha t is constantly displayed in the screen; however, they may miss sound alerts produced by the ATM such as the alerts that signify an end to the transaction.Most ATMs also cater for people with cognitive disabilities such as low response time, memory and attention disorders. The ATMs produce sounds to signify the beginning and end of the transaction. There is also constant communication with the user such as informing the user to pick and insert the card. The ATM authentication PIN is also relatively short, usually four digits that are easy to remember for the majority of the population.ATMs do not demand a lot of physical strength to insert the card, key in the pin and take the cash. ATMs are conveniently located close to streets thus users may get access to the ATM easily since it does not require a lot of physical mobility. However, people who are vertically challenged may experience difficulties accessing ATMs that have a greater height than a saloon car. Therefore, various improv ements must be made on the ATM design.Redesign Su...

Waitlisted Here are 3 Things You Should Do Next.

This time of year is full of so many highs and lows for college applicants. Many students will be jumping for joy when they learn that they’ve been admitted to the school of their dreams. Others may learn that they have been denied admission placed on the waitlist, and can’t help but feel defeated. If you happen to find yourself in the camp of waitlisted students, here are some strategies to help you figure out next steps. Reach out to the school immediately. If you’re still dreaming about attending the school that waitlisted you, open communication as soon as possible. Write a letter or send an email detailing that if they were to admit you, you would accept the spot in their incoming freshman class without question. Reiterate the reasons why this school is your dream institution and update them on any new developments in your candidacy. Get excited about your Plan B. Obviously your dream school is still your goal, but you’re likely going to head somewhere in the fall, so it’s time to psyche yourself up for Plan B! Since it is uncertain whether or not you will be lifted from the waitlist at your dream school, put down a deposit at a school that admitted you. The last thing you want is to be stuck after May 1st with nowhere to go, so set yourself up for success by paying an enrollment deposit at another school. Buy a t-shirt or hat for that school, too. You might end up being a student there, so it’s time to get into the school spirit! Keep your eye on the prize. If you’ve been waitlisted, you might consider just walking away altogether to take a Gap Year. For some students, this might be a good option, because you can spend your Gap Year doing things to boost your candidacy in anticipation of applying again. However, it is important to note that it is easier to try and transfer to your dream institution from another college than taking a stab at the first-time admissions odds again. In most cases, you are better off enrolling in your Plan B, kicking butt in challenging courses and ultimately positioning yourself to be a compelling transfer applicant in a few years. Who knows, you might fall in love with your Plan B and realize that’s where you were meant to be all along! Being placed on a waitlist definitely isn’t ideal, but there are actions you can take to position yourself well for the future! Veritas Prep college admissions consultants are ready to help you with strategies to get off the waitlist at your top-choice school. We are happy to review your waitlist school letter or assist you as you decide on which college is right for you. Visit our  College Admissions  website and fill out our  FREE Profile Evaluation  for personalized feedback on your unique background!  And as always, be sure to follow us on  Facebook,  YouTube,  Google+, and  Twitter!

William Shakespeare s Macbeth - 1242 Words

In 16th century England, life was far different than it is today in regards to entertainment. The Elizabethans’ favourite past time was watching theatrical performances mostly delivered by William Shakespeare. During the Golden Age of England, theatre was at its pinnacle, influencing classical English culture and starting a catalyst that would ripple through amphitheatres throughout Europe. Since drama’s debut in Ancient Greece, the dimensions of comedy and tragedy have never been explored until William Shakespeare expanded them to include the themes, motifs and gothic elements relevant during his time. Shakespeare wrote these plays for more than entertaining; he attempted to transcend universal themes and messages that still resonate with audiences today. One of these plays was Macbeth, a tragedy that voices the ambition of a young, kind and righteous man and how it ultimately leads to his downfall and destruction. Shakespeare incorporates into this tragedy a couple of gothic elements that fascinated humanity with the grotesque, the unknown, and the frightening, inexplicable aspects of the universe and the supernatural. In Macbeth however, these elements are complexly weaved with only three of the characters- the three witches. The three witches are acutely significant as they establish the atmosphere of the play, orient the plot and are the architects of the various themes in the play. Shakespeare attempted to deliver certain messages or main ideas to the audience,Show MoreRelatedWilliam Shakespeare s Macbeth 1363 Words   |  6 PagesMacbeth is without a doubt one of the most captivating plays, in my opinion written by William Shakespeare. Throughout this play there is definitely a numerous amount of things that can catch your attention, whether it is a trio of witches appearing, committing murder, or keeping secrets. However, what really catches my attention is the way Shakespeare uses language and unique style to create a distinct mood, and reveal characters’ inner thoughts. In the play Macbeth written by William ShakespeareRead MoreWilliam Shakespeare s Macbeth 884 Words   |  4 PagesMacbeth Summary - Act 5 Scenes 1 - 9 Written by Josh, Corey, Sinead, Phoebe and Mason Phoebe Scene 1: So the first scene begins with a physician overseeing Lady Macbeth sleepwalking and muttering to herself while rubbing her hands, trying to remove the imaginary blood. ‘Here’s the smell of the blood still: all the perfumes of Arabia will not sweeten this little hand.’ (Act 5 Scene 1 Lines 11-12) This line is important as it represents Lady Macbeth at war with herself and shows she will never moveRead MoreWilliam Shakespeare s Macbeth 1289 Words   |  6 Pages 2015 Macbeth Literary Essay In this 16th century, classic play about a man hungry for power by William Shakespeare there are many intense instances of symbolism used to demonstrate and prove Macbeth’s feelings and behaviour throughout the book. Good symbolism makes you feel what the character feels when reading a story. In the story, â€Å"Macbeth†, Macbeth is shown to be a sly and deceiving person who betrayed his kingdom for his own gain. Three important symbols used to show Macbeth s greed andRead MoreWilliam Shakespeare s Macbeth 1652 Words   |  7 PagesMacbeth is one of William Shakespeare s most famous tragedies, it is believed to have been written and first performed in 1606. Sources indicate that the play was written to appease King James I, who had ascended to the throne after Queen Elizabeth I. The play tells a tale of a brave Scottish Thane named Macbeth, whose thirst for power brought him to murder Duncan, the King of Scotland, only to become a tyrant, and have his actions lea d to his eventual demise as the tragic hero. Throughout the playRead MoreWilliam Shakespeare s Macbeth 1129 Words   |  5 PagesWindsor 02/10/16 Macbeth William Shakespeare wrote one of best tragedies in english literature, which was titled Macbeth. The tragedy, as it is considered by critics of yesterday s literary world, frown upon the evil dimension of conflict, offering a dark and atmosphere of a world dominated by the powers of darkness. Macbeth, more so than any of Shakespeare s other tragic protagonists, has to face the powers and decide: should he give in or should he resist? Macbeth understands theRead MoreWilliam Shakespeare s Macbeth 1909 Words   |  8 PagesKing James’ court, none more so than William Shakespeare, who was writing some of his best plays in that time. The most well known of Shakespeare’s plays produced in the Jacobean Era was Macbeth. Macbeth tells the tale of Macbeth, a thane of Scotland, and his descent to madness. One of the characters of this play, Banquo, was also a prominent lord in Scotland, a lord King James believed he was descended from. It seems evident in that in t he play, Shakespeare used his portrayal of Banquo to flatterRead MoreWilliam Shakespeare s Macbeth Essay1406 Words   |  6 PagesMacbeth Essay Since the beginning of time people looked up to the stars asking Gods their fate. Fate is a belief, that there is a set path for an event that is both unavoidable and inevitable, that there is a fixed natural order to the cosmos. In the play Macbeth by William Shakespeare, viewers can observe fate or (prophecy) playing a major role. William Shakespeare was born April 1564 and died May 1616, during his life Shakespeare wrote 37 plays, and 157 sonnets, Shakespeare is also knownRead MoreWilliam Shakespeare s Macbeth Draft1040 Words   |  5 PagesStuart Wodzro Honours English 9, Block 2 Shakespeare Essay February 26, 2016 MacBeth Draft No. 3 The strive for power is a human impulse, perhaps even a primitive compulsion. And, in the case of human beings at least, the impulse is not restricted solely to the necessities of life. Beings are devoted to gaining raw power itself and, through it, they loses themselves. As one may know, the lust for power is a mode of selfishness, where at one attempts to gratify every passion, but alas pleonexiaRead MoreAnalysis Of William Shakespeare s Macbeth 1887 Words   |  8 Pagesdisaster. â€Å"Macbeth’’ is a tragedy written by William Shakespeare and is considered one of his darkest and most powerful works. William Shakespeare was born in Stratford -upon -avon, in Warwickshire and was baptized a few days later on 26 April 1566. William Shakespeare was educated at the local King Edward grammar school Stratford and is considered by many to be the greatest playwright of all time.(Bio.) In Macbeth, William Shakespeare used ambition to show us Lady Macbeth and Macbeth and t heirRead MoreWilliam Shakespeare s Macbeth Essay1827 Words   |  8 PagesEnglish IV DE/AP 24 January 2016 Macbeth Research Paper Although William Shakespeare is not historically accurate with his play Macbeth, there are many possible reasons as to why his historical interpretation differs from reality. He may have wished to flatter the king and, when taken into historical context, may have wished to warn others of the fate handed to those who would oppose the king. Although there are many differences between the play and history, Shakespeare remains truthful in some aspects

Managing The Population Through Education And Birth...

When the world celebrated the 7 billionth baby’s birth in Manila a few years back, we were stepping in a society with noticeable population explosion. Those overpopulated societies which can no longer sustain themselves invade the natural environment which belongs to wildlife and over exploit natural resources for survival. Human beings are supposed to be responsible for the majority of environmental problems, while overpopulation exacerbates most problems such as pollution, deforestation, global warming, etc. Thus, to save the world from those environmental crises we should attach more importance on the people that cause them rather than just reply on developing technology to fix the problem its own. Managing the population through education and birth control policy is what we can do with global joint efforts. Reminding the public of our population problem, providing an option of birth control to families and guiding the public to live sustainably will slow down the populatio n growth, and hopefully in the long sense reduce world’s population. Most importantly, such declining population which owns greener lifestyle creates a benign and harmonious relationship with the planet. The UNICEF estimates that an average of 353,000 babies are born each day; this means a baby is born to the world every two seconds. About 60 years ago, the world’s population is less than a half of what it is right now. Therefore, if the population continue to grow with this rate, theShow MoreRelatedThe Article Over Population Is Not The Problem `` New York Times892 Words   |  4 Pagesthe article â€Å"Over Population Is Not the Problem† New York Times. On 13 September 2013, Erle Elis informs us that many scientist believe humans are exceeding the earth’s natural carrying capacity. That the expanding numbers are reaching the limits of our finite planet. Earths carrying capacity is estimated between 4 and 16 billion, and the world’s population s tands at around 7 billion. In other words, we may have already passed the limits. It is estimated that by 2050, population will reach 9 billionRead MoreChina s One Child Policy1227 Words   |  5 PagesThe one child policy in the Peoples Republic of China has recently been lifted to allowed families to freely have two children rather than one. This policy, introduced to China in the late 1970’s, was due to a massive baby boom which had taken place in the 1960’s. In the early to late 1950’s the Chinese government had encouraged its citizens to produce children at a rapid rate in the hope of building a larger work force (Managing Population Change Case Study: China). In order to counteract this boomRead MoreApplying the Concept of Bipower to Chinas One Child Policy1382 Words   |  6 Pagesused as a form of social control. His analysis breaks the concept of power apart, and his theory explains differences in various modes of power. In his study the History of Se xuality, he explores in the firth volume called Right of Death and Power over Life the triangle of power: (I) sovereign power; (II) disciplinary power; and (III) biopower. In this essay I will describe the relationship between each power and apply the concept of biopower to China’s one child Policy. First what is BiopowerRead MorePestel Analysis China1301 Words   |  6 Pagespower to control all activities done by their citizen as what have been describe in how communism system worked in governing a country . In other words, the purpose of working in China is to contribute to the nation and also to the government as the government control on all the activities in the country. Stability of the government The stability of the China government is quite moderate and stable because the administration of the government is not to publicize to the public either through the pressRead MoreChina’s One Child Policy Essay1086 Words   |  5 Pagesabout a solution and find ways to deal with its population explosion. In order to have control over population, in 1970, a policy named China’s One Child Policy was introduced. Mingliang argues that, â€Å"China, through the one-child policy, has instituted the most aggressive, comprehensive population policy in the world† (1). This policy limits all families in the Republic of China to have only one child, regardless of the sex: however, within this policy there are some exceptions. It is possible toRead MoreTeenage Moms That Are Still In High School Get Pregnant1391 Words   |  6 Pageseighty-five percent of these pregnancies are unplanned, which in any population can increase the risk for problems. The biggest risk for teen mothers is delaying prenatal care or worse, about seven percent received no care at all. According to CDC, In 2014, almost 250,000 babies were born to women aged 15–19 years, for a birth rate of 24.2 per 1,000 women in this age group. This is another historic low, and a drop of 9% from 2013. Birth rates fell 11% for women aged 15–17 years, and 7% for women agedRead MoreThe Cultural Matrix And Gender Identity1506 Words   |  7 Pagesâ€Å"‘persons’ only become intelligible through becoming gendered in conformity with recognizable standards of gender intelligibility (p.22)† and describes â€Å"intelligible† genders [as] those which in some sense institute and maintain relations of coherence and continuity among sex, gender, sexual practice, and desire (p. 23).† That is, legitimate persons are those whose gender matches their sex within heterosexual engagements. However, all persons should be intelligible. It is through the cultural matr ix, of theRead MoreHealth Problems That Are Labeled As Social Problem1286 Words   |  6 Pagessociety and the level of educational attainment, occupation, and household income. A person level of education, income and occupation has a great influenced on one’s health and the mean to have a good health insurance. In the United States, low socioeconomic status is associated with lower life expectancy a prevalence of health problems and higher incidents. Poverty and the lack of college education were associated with higher mortality (Kindig Cheng 2013). In the United States, rates of overweightRead MoreThe World Population Data Sheet Reported2897 Words   |  12 Pages All residents of a specific area, city, or country comprise the total population. In my imagination, the word â€Å"population† means all people from all over the world. As everyone knows, people are born, grow, live, multiply, and make history, since the first living things appeared on the ear th. Every two years, the United Nations makes an assessment of past, present and future populations in all countries and publishes their discoveries and predictions. Therefore, with this evaluation, theyRead MoreEssay on Michele Foucault Biopower2145 Words   |  9 PagesSexuality. In Part five of the book Right of Death and Power over Life, he discusses about the historical â€Å"Sovereign Power† where one is allowed to decide who has the right to live and who has the right to die. The sovereign uses his power over life through the deaths that he can command and uses his authority to announce death by the lives he can spare. Foucault then moves on to Disciplinary Power where he came up with the â€Å"Panopticon† where one is to believe they were under surveillance at all times

The President Of The United States - 1532 Words

Rand Paul, the son of famous libertarian Ron Paul presidential candidate, and Kentucky senator began running for the position of president of the United States of America, on April 7th 2015 under the Republican Party. He ran under the slogan Defeat the Washington machine. Unleash the American dream, and promised to be a non-establishment Republican president. Rand Pal is by far the best candidate for the presidency in all fields, but most specifically, for our economy, our foreign affairs, and our rights and liberties. The economy is a major part of any presidential campaign, as it should be, since our economy is very weak right now and susceptible to damage that could further bring us into a recession we need a strong president to help†¦show more content†¦He released a plan with a 14.5% flat rate on income that also replaces corporate tax. It would eliminate tax loopholes and other tricks that help big business (Rand Paul Presidential Campaign, 2016/Taxes – Ballotpe dia). Paul’s tax plan would increase our GDP by 13%, create 4.3 million full time jobs, and it would increase after tax incomes for all income groups by 16%, as well as grow the economy about 13% (The Economic Effects of Rand Paul s Tax Reform Plan). Finally Rand Paul released a document listing all the programs that he would cut and how he would stop the government from wasting citizens tax dollars, cutting these programs would save us over 1 billion dollars, all the programs listed can be researched and found out to be not needed, for example our tax dollars are going towards, â€Å"researching the effectiveness of golf equipment in space† which cost us 15 million dollars (Airing of Grievances 2015). As important as our economy is, a presidential candidate has to be able to defend us from attacks, and Rand Paul has views different from many Republicans on how to do just that. Our national security and foreign policy are very important, since the safety of the citize ns and our interests abroad are fundamental issues and must be ensured by the

Corporation (Fisch) Outline Penn Law Essay - 62808 Words

Table of Contents I.) INTRODUCTORY PRINCIPLES 2 A.) Efficiency and Other Concepts 2 B.) Agency and Partnership Law 2 II.) INTRODUCTION TO THE CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations Under Federal Securities Laws 67 C.) Shareholder Litigation 76 IV.) Structural Changes 85 A.) Transactions in Control 85 B.) Mergers and Acquisitions 86 1.) Mergers 87 2.) Sale of Assets 93 3.) Asset Purchase or Tender Offer 94 C.)†¦show more content†¦o Voluntary exchange is a prerequisite o Weakness: there is a societal imbalance in the distribution of resources, and it is virtually impossible for courts/legislatures to make important decisions that do not make someone worse off ââ€" ª Kaldor-Hicks Efficiency: (Business law model) *Increases aggregate well-being* Fairness model †¢ An act/rule is efficient (leads to overall improvement in social welfare) if at least one party would gain from it after all those who suffered a loss as a result of the transaction or policy were fully compensated (but those who suffer do not actually have to be compensated). o Wealth-maximization model that takes externalities into account. Potential improvement (not actual payment) is required. o Weakness: doesn’t speak to legitimacy of initial distribution of wealth; ignores the actual distributional consequences of policies and difficulty of accurately measuring external effects. †¢ Theories of the Firm o Coase Theorem: A firm exists because, in a world of positive transaction costs, it is sometimes more efficient to organize

Conditions of Economic Growth and the Asia-Pacific Region free essay sample

A study of the preconditions and policies required for economic growth and why some Asia-Pacific countries have failed to achieve sustainable long-term growth. A study into why certain Asia-Pacific countries such as Cambodia fail to reach long-term economic growth and an explanation of the conditions and policies needed in an economic climate to achieve this growth. The paper covers the following topics: Preconditions for faster economic growth Policies for faster economic growth Asia Pacific LDCs (Least Developed Countries) Cambodia The paper is filled with examples and recent statistics of countries including USA, Australia, Taiwan, Europe, Japan, Cambodia, and Asia-Pacific LDCs in general. According to McTaggart et al, there are several pre-conditions for economic growth. One of which is the existence of an institutional framework that is crucial to the creation of incentives. This institutional framework included markets (supply and demand), property rights, facilities for monetary exchange, as well as simple and transparent regulatory systems (1999: 32. We will write a custom essay sample on Conditions of Economic Growth and the Asia-Pacific Region or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 7). Market prices send signals to buys and sellers that create incentives to increase or decrease the quantities demanded and supplied. Markets also enable people to specialize and trade and to save and invest. Property rights are the social arrangements that govern the ownership, use and disposal of factors of production and goods and services (McTaggart et al, 1999:32.17). They include the rights to physical property, to financial property and to intellectual property. The existence of property rights and their enforcement by the law provide people with certainty in their business dealings and hence they help provide macroeconomic stability and a pre-condition for growth.