=) Mica (=

Oh my God

2011-01-14T19:22:00.001Z

Oh my GOD,,I found my blog!!!!!!!

mind map

2010-03-23T19:47:00.002Z

quantitative easing

2010-03-22T21:14:00.003Z

Quantitative easing means putting more money into our economy to boost spending.
the targets of ‘quantitative easing’ ：

- keep the inflation stable and promote a healthy economy.

The bank of England use the interest rate to control inflation , and they aim is keep the interest at 2% but the target made by government . why the government and bank hope to keep the inflation stable ,this is because if the inflation below 2% or nearly zero, it reduce the the bank rate to boost spending and inflation. Also there is a still significant risk of very low interest rate, the bank can increase the quantity of money,so in other words, inject the money directly to the economy, the process of this also called quantitative easing. Because of injection of money the spending may increase because with the increase in lending the money to the seller or buyer they can spend more which is more than before, therefore the spending will increase and the inflation rate may grow up. Whereas why keep stable inflation is good? Because if the inflation is unstable, in terms of householder and companies which is very costly. and they make it hardly to see how price of individual good are changing compared with others.

-supply more money

why should more supplied?

Because the money supply needs to keep growing at the steady rate of the economy,and to ensure inflation remain close to the government 2% targets.

A country has a large current account deficit, what policy should be followed?

2010-03-19T22:38:00.003Z

I think the government should do nothing, because it may be that under a free exchange rate system therefore the currency may face to depreciate. Also if a country has a strong economy it will attract FDI(foreign direct investment0) r loans into the capital account so the current account is balanced.
expenditure switching policies. Because these sort of policies reduce domestic spending on imports also the government can set the tariff or non tariff barriers to protect the domestic business. Also the government can subsidies to domestic producers, If the government recognise how important of exchange rate is helpful, they will set lower exchange rate or lower interest rate to encourage the domestic demand and the number of exports.
Expenditure reducing policies, this is means reduce spending on imports by reducing total spending such as deflationary fiscal policies, also they can set higher tax and spend lower money also deflationary if monetary. on anther hand the government can increase the interest rate which is reduce the demands, because less demand leading less expenditure.

review 4

2009-11-28T23:09:00.002Z

Describe deregulation in the transport market
deregulation occurs when the government deliberately removes official regulations that act as a barrier to competition in a market. It is a supply side policy that facilities con testability.
the reason off deregulation is make the transport more efficiency and maintain the transport. For example, deregulation on local bus services in the transport act and then it becomes more efficiency.

Describe privatisation in the transport market.

Privatisation is the process by which a former publicly owned organisation or activity is sold off to the private. there are more information about privatisationhttp://shuimengqiu.blogspot.com/2009/11/privatisation.html

Explain the negative externalities due to increase the transport demand.

The negative externality is when the social cost exceed private cost. With the increase the transport demand, the pollution will be increase lead to reduce the transport sustainability.
there will be more congestion, so the risk of accidents will be growth. For freight transport, it will delay the delivery time and consuming products.

review3

2009-11-26T21:11:00.002Z

Describe contestability in transport market and describe barrier to entry and there application to the transport market.

Generally if transport market is contestability, there is low barrier to entry.

for example the market of road haulage, couch services and rural bus services are get high con testability,therefore there are low barrier to entry. In the opposite, the air transport market has low contestability therefore it is high barrier to entry.

In monopoly market, there is high barrier to entry, because if a new business want to entry the set up cost is high, also there is some legal barriers for example the new transport market should have the licence from government.etc Thus in monopoly market there is low contestability.

In oligopoly market, the is lower barrier to entry than monopoly because a oligopoly market is a market dominated by a few larger firms. Therefore there is low contestablility as well.

However in a contestable market and a perfect competition market there is high contestability.

Because a contestable market is a market where is no barrier to entry and exit and the costs facing incumbent and few firms are equal.Also the meaning of perfect competition is a market structure with many buyers and sellers, free entry and exit an identical product. So according to the definition of both market it reflect both of them are no barrier to entry , therefore there are high contestability.

Outline the natrual monopoly case for transport

A natrual monopoly is a market situation where a monopo;osthas overwhelming cost advantage.

The natrual monopoly case for transport such as water, gas and electricity. For example there are two bus companies in a transport market, but both of them find put there is low profitability, but the bus company which exit in this market already will win the competition perhaps, because if there is already a bus company occur, the scale of this company is big, so the new entry bus company has low ability to get this conpetition so it will be difficuilt to entry real market. However if this new bus company has another transport market already and run it very well, it might be survive in this kind of competition.

review2

2009-11-25T21:40:00.004Z

Explain how transport forecasts are made and why?
Transportation forecasting is the process of estimating the number of vehicles or travelers that will use a specific transportation facilityin the future.

the forecasts can basis on the figure,data and trend on transport. For example, the number of railway line prepare to use, the number of passengers satisfy by airport, or the number of ships calling on a seaport. To do transport forecasting, The first step is collection of data on current traffic. together with data on population, employment, cost etc. Feeding data on future population, employment, etc.

Explain the main ways in which transport sector can be described through the data.

For example, we have data which shows the how does consumer think about the comfortable of take bus, if there are more than 50% consumer think it is not good enough, the manager of bus company may make a forecast to solve this problem. In the opposite if the data shows there is more than 50% consumer think it is good, the manager of bus company will make a forecast which is how to keep it.

Outline economic of scale and application to transport.
Economies of scale: where average cost falls as production increases. They are happening because larger firms are able to lower their unit costs.
application to transport relevant the regulation and the transport market, for example barrier to entry, and one reason

of it is to entry a transport market should have licence from government.

review

2009-11-24T19:32:00.004Z

Outline the characteristics of the main modes of transport?

Road-For road transport,generally it is very convenient and efficient, because it is provide the door to door service. For example delivering goods by truck. It is extensively used in retailing and where 'just in time' are required it is not always the most sustainable mode and has poor public image

Rail- For rail transport, it is convenient can efficiency as well, but it more suit to middle and long distances. on another hand, it more suit to container traffic over long distance. there are interchange limitations for certain types of potential traffic. The capacity of rail is big.

Air- For air transport the speed s very high and it is over long distance and it is very efficiency, therefore, for business and travel, air transport is a good choice. Clearly relevant for transporting time sensitive cargo such as mail and certain types of food products, but is cost a lot. However, it is the least sustainable mode because there are few realistic substitutes.

Sea-For sea transport it is very suit to bulky good. for example oil and containers, can be moved over longer distances where speed is not an important consideration. For example when you send letter, you will choose send it by ship or by air which means normal or quicker.

Explain why transport is derived demand.

Because transport as a service or function is not demand purely for what it it, but for what it can do. people will choose the transport because it can satisfy what are they want to do. for example a person buy clothes on line if she want to get this clothes she must choose a way to post it. therefore she can choose post by quicker way(airway) or normal way(ship).

Explain how to measure transport demand.

Price,price charge is very important , but it depends on the elasticity and different transport modes.

price on substitutes,the demand will change with the price change in substitutes. however we need concern about demand elasticity as well.

income , higher income in passenger will stimulate them purchase more on transport. however it depend on the elasticity and current situation.For example if the interest rate is high they may saving more instead of purchase it on transport.

quality, high quality will help to increase the demand, but if the price is so high, the demand may decrease so it depends.

privatisation

2009-11-23T17:39:00.004Z

privatisation is the process by which a former publicly owned organisation or activity is sold off to the private sector,generally, it including an outright sale to another company, a management and employee buyout, or the public sale of shares in a new company.

what is the benefits of privatisation?

privatisation will stimulate the current owner concentrate more on maximise the profit. Therefore they will set some SMART strategies such as increase the consumer services and quality of it which will help to improve the allocative efficiency.

Privatisation provides a series of supply side-benefits for consumers due to an activity being exposed to the free market.

privatisation will reduce the government intervention. Normally a nationalised company will effect by the current economy situation as well as some political factors. For example if they meet recession the government will ask them to reduce the price. I think this because government is concentrate more on the social side. Therefore if the company have privatisation, these obstacles will be avoid.

The disadvantages of privatisation

more risks. For example less government subsidies.
if the company is controlled by the government, the taxpayers will pay if the will have a loss so there s no insensitive to minimise costs
privatisation nay not necessary encourage the competitiveness, because the national monopoly may become local monopoly.
cross subsidisation may not apply here.

recommendation on whether to accept Romily's proposal.

2009-11-04T21:04:00.005Z

In my opinion, I suggest the Barker limited to accept Romily's proposal. Because as the advantages I mentioned which is more than the disadvantages of move into crisps production.

firstly, Romily has been working in marketing department of walkers crisps and has made rapid progress there. From this evidence that I know Romily is experienced and she can do this job. whilst she putting 20000 which is half of her life saving into the new business ,this shows she supports this new business. Therefore with her experience, to build the crisps market will use less time and save money and more efficiency. Also Romily made a decision tree, and it shows the probability is bigger than loss, because the probability of successful is 70% and loss is 30%. However this is just a estimate, there will have some unpredictable change and risks in the future. To produce the crisps, Barker Ltd will use their own potatoes and they will keeping the brand name . this is good for the crisp market because Barker Ltd got main customers and due to loyalty demand therefore these customers may want to try their new product and the demand of crisp is established. The potato price forecast to drop in real and it leading to less attractive to keep sell potatoes therefore move to a new market may recover the business and more successful.

on other hands I have some advices to help Barker Ltd to gain more successful if move into the crisp business. Firstly, increase the level of hierarchy, because the span of control will decrease and the have more communication between staffs and it is easier to control therefore the staffs will be motivated and it will leading to more productivity's. Also to look for some investors from her family member which can help her to start the business easier or put into all of her life saving.

oligopoly-Kinked demand curve

2009-10-18T20:10:00.003+01:00

oligopoly is a market structure dominated by a few firms.

Kinkes demand curve is a demand curve made up of two parts; it's suggest oligopolists follow each reductions, but not price rises.

kinkes demand curve can be used to explain why prices in oligopolistic markets are often rigid, or stable for relatively long periods of time. Price Rigidity is a condition where one follows a decrease in price but not an increase in price. This is due to the ability of other firms to match prices with it and it often leads to a kinked demand curve.

Attempt to stay at the same price which is point P shows the fixed price, and the output shows by the point Q. It is assume that a firm increase the price which is above point P , the other firms will not follow to increase the price because the oligopolistic market is non price competition. Therefore, when a firm increase the price the other firms will be able to sell more themselves, attracting customers from the firm that increased the price. Thus cause of this we know the demand is elastic to an increase in price. and it shows the firm's demand curve is AB and its marginal revenue is AC. Inversely, if the firm decrease the price, the other firm will follow, because if they do not cut the price, they will lose their market share for example, lose their customers. This is starts a price war, the result of which is likely to be that all firms lose out. The demand curve below B is inelastic, because it make a sense if the MC curve move up or down and the output will not change. While the marginal revenue curve is EF.

Monopoly

2009-10-14T21:39:00.009+01:00

Monopoly is one of the market structure. A monopoly exists when single firm controls the entire output of an industry. The sole supplier of a good for which there is no close substitute.
The feature of monopoly

single firm

high barriers to entry

no close substitute

price maker

The firm produce the output at where MR=MC, charge price at P to achieve supernormal profit.
In competitive market, MC=AR price would be lower at Pc and output wold be higher than Qc. Net welfare for consumer is higher.

In a perfect market, the market equilibrim will be at point X where MC=AR, That's supply meets demand.n price at Pc and output Qc.

The disadvantages of monopoly:

The monopolist is not producing at the lowest point of AC curve, though produce efficiency is not achieved, allocative efficiency is not achieved either since the price charged to consumers is greater than the marginal profit.
consumer surplus is being reduced
monopolist could be monopoly power to create barrier to entry and operate price discrimination.

the advantages of monopoly:

Dynamic efficiency is being achieved in the long run. firms are able to invest, innovate and develop to protect market position.
If monopoly benefits from economic of scale, long tun average cost is reduced.

comment of 5business ideas

2009-10-11T14:36:00.006+01:00

1. I do not think this is a good idea because the cost of it is very high, and the market is not really good. To keep the fresh of these food in vendin machine is not very easy, they company who do this business need send staff to change the food on time. If the food not sold out, the food are waste. the consumer can not touch the food before they want to buy, they do not know whether the food is good or not, therefore consumer may change their mind to go to supermarket. However, it is very convenient to people who lives very far from market.

2.No firll gym, open 24/7

This is unique business idea, it will be attract a lot of people. Open a gym 24 hours per day and 7 days per week is satisfy lots of demand, because different people has their own different spare time. Sometimes, the gym close at 9 o'clock, for people who have free time before 9 o'clock is good, they can go to gym before it close, but for people who do not have free time before 9 o'clock is not good, because they cannot go when is too late. In another hand, if the capacity of this gym is so small, people will choose the time when they think is suitable, or after them work, they may all go the gym. So too many people will lead to overcrowded. So I think open a gym 24 hours per day and 7 days per a week is good, because it can satisfy more demand and it will encourage more people to join. Also the possibility of overcrowded will decrease. However, I do not think there will be a lot of people go to gym in the evening, because it is not really health to do exercises in night. So, some people may not want to go. the cost will be high as well, for example the electricity. Whereas it depends on different people.

3.Adjusting jeans for pregnant waistlines & back again

This is very attractive products for pregnant, because girls like wear jeans even though she is pregnant or not. Adjusting jeans satisfy the demand of prednant, it is very convenient and not really the out look of jeans. However, it is not very health that a pregnant to wear adjusting jeans, therefore for some of prednant they may prefer to wear other comfatable clothes in stead of atjust jeans.

4.wearable device tracks,fitness data 24/7

I think this products is not really suitable for now, because not every people want to take a small digital thing and record the sleeping time, or some other fitness data. It approciate people who like to know what these information. However. it is very convenient and really useful for some people, but I think it is very expensive as well. I guess it will be more demand of this product in the future becomes nowadays more and more people start to consider their health.

5.interactive piggy band teaches kids about money.

I really like this idea. Because it is good for children to learn the basic financial skills, make them recognise the importance of money. The main consumer of piggy bank is kids, it is very attractive, because children always like to copy the action of their parent, they will interested in how to save money in bank and willing to do it. Also this encourage them to save money, and their parent would like their children have this good habit. However, how to use computer is a problem for children, this is a new and difficult sill to them to learn how to use computer. Also some of children interested in this because of their curiosity, normally, kids can not keep their curiosity for a long time, when they stop to consider on this interesting project, they will stop use the piggy bank. Therefore, how to keep the kids use this bank it is difficult to the company.

Foldio

2009-10-11T13:25:00.005+01:00

http://www.foldio.co.uk/index.php

Firstly I need to say Christin is a genius, he is 19 years old and just finished his A level course, but he ca running a business very well. Then I am thinking about me,,,,god....!!!!
Ok, Let's talk about foldio. This is a good products, because after I watched the Verdi, I visited the web side of this products. In this website they describe the advantages as :
1.Curves documents without a crease, creating a smaller, more functional portfolio
2.Paper doesn't curl, unlike cardboard tubes
3.Easy access to particular documents, unlike standard portfolios
4.Foldio holds paper, card, notepads, pens, books
5.Constructed from foam PP, Anti-worp system
6.Durable and comfortable handle
7.Affordable, high quality and stylish product
According to the advantages above, I think this is a good product, and they have a high market share.

marketing:
all the student can be the consumer of foldio. I mean all the student which include primary, secondary, high school and university school students. Because the supplier of foldio have different size of it, such as A1,A2,A3 and A4. This is good, because not only students but also other people,like business man. In another hand, foldio is not very expensive, for example the price of A4 is 19.99 and now is 16.99,this discount may because of the seasonal reason, now student start to go to school, they will think about to buy a new foldio, lower price is more attractive. If Consumer decide to use bulk buying, there will discount more. For instance if a university will buy 1000 foldios, there will be 5% discount of the total price. Also if you visit the website, you will see, the sale of foldio is good, because this reflect buy their sale record, for example, the foldio of A1 case is sold out. So according to the information above we can see the market of foldio is good. ( I think this is why when Christin face to 4 dragons he was very confidence)

Christin ask 80,000 pounds and 15% share to investment in the initial time. He said he will manufacture foldio with the 80,000 pounds. One of the dragon was interested in this product, and he would like to invest it , but the share for him is not very high, so he asked more than 15%share form Christin. Christin accept and increase the share from 15% to 35% which jump a lot.
I think accept this dragon's offer is right, because Christin can gain the invest and manufacture foldio. As we know the market for foldio is good, therefore the profit will be high, and Christin mentioned that he has experience of exports and impors with China, So he knows about the information of China, like the materials in China is very cheap. Therefore he can build the manufacture project in China which is cheaper and thus can save money and he can find a market in China as well. So in this comparesion, 35% share is not really influence a lot.

However, there are some risks of 35% share, because 35% is not a low share for a business. If a the competitors of foldio become more, the demand of foldio will be reduce, becuase consumer can compare the products and change their taste. for example lapdesk is one of the competitor of foldio, because both of them can keep the paper, but foldio do not have a mini desk which can help people writing everywhere. So if the market share decrease, and the marketing is more competitive the profit maybe reduce. Therefore if give the dividends to the investors with low profit, their will be loss of the profit . So depends on different situation.

Depreciation

2009-10-07T22:59:00.001+01:00

balance sheet

2009-10-05T15:43:00.001+01:00

I am sorry that I did not come today, because I feel really bad. However, I was read balance sheet at home and tried to understand it more clearly.

What is balance sheet actually is?
a summary of a person's or organization's balances. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.

Balance sheet basis on balances
Assets= liability + shareholders equity
Owned=owed + investment

Assets
Current assets:
Assets that have life span of less than one year. Current assets include cash which you may have in hard cash(currency and coins), current, savings, and investment accounts, and other assets which are not cash is liquidity. Liquidity means how easily you can turns into cash. The second one is accounts receivable, it is how quickly will you customer pay you? How much is it really worth. The third part is stock(inventory), when we talk about stock, we need consider how quickly can you sell it? And again how much is it really worth. The forth assets is pre-paid expenses. For instance paid in advance for future benefits. E.g rent.

Non-current assets
Assets that have life span of more than one year and can be turned into cash in less than one year.
Non-current assets include fixed assets, such as machinery, computers buildings, land and tangible assets. (fixed assets value=original value-accumulated depreciation)

Other assets
There are good examples about other assets patent, copyright and goodwill and actually goodwill might the brand value, all of them are intangible assets.

Then let’s talk about liabilities
What are liabilities? Liability is an obligation of an entity arising from past transactions or events.

Current liabilities
Debts or obligation that are due within one year.
1. Bank overdraft/short term loan \
2. Accounts payable (creditors)
3. Accrued expenses. E.G payroll, interest( interest pay the loan), tax.
4. Taxes

Long term liabilities
Debts or obligations that due in more than one year e.g. Bank loans, leases.
1. Bank Loan

Equity (capital)& Retained Earnings

Equity- Investment from shareholders(paid in capital goes to current assets)
Retained earnings- Profit

easy way to understand what is diminishing marginal return

2009-10-03T21:57:00.000+01:00

mind map

2009-10-01T23:28:00.004+01:00

Business Homework

2009-09-30T19:37:00.003+01:00

What extent is profit a good indicator of the success of a business such as BP?

what is profit?
The positive gain from an investment or business operation after subtracting for all expenses. opposite of loss.

profit is a good indicator of the success of a business such as BP, because, If a company get high profit, which means they have large potential of market share, and customer's loyalty. So it will be attract some investors. Therefore they have high market share and financial guarantee, people will think this business may is good. However,if people just concentrate on how is the profit going on, I do not think it is a good way to measure a business is success or not, I know get high profit is the most important aim of every business. But there are other way to measure a business. For example the communication between employer and employees, the manage skills and the cash flow, all of them are good indicator of the success of a business, because if there are bad relationship between employees and employers how a company can operate normally, it will be demotivate their labour, as well as productivity. So if labour has low confidence and a industry has low productivity how a business can achieve successful? Also get high profit not only in long term , but also in short term, for example in summer the demand of ice cream is very high, so people will spend a lot of money on it, thus the ice cream company will get high profit. Whereas in winter, just a few people will purchase on ice cream, so the company will loss a lot, Therefore we can not measure this business is successful or not.

However profit is a good indicator of the success of a business, but it need related other aspect as well, because profit is not a full picture to a business.

Group Exercise 9

2009-09-29T16:59:00.004+01:00

In fact, a company employing child labour is illegal, and we always say that is against business ethic in general, Because the child labour is under 16 years old which means they did not achieve the minimum standard education, and because of they spend a lot of time to work instead of to go to school, it bad for their future,which bring the negative externality to the society as well. Whereas,what is business ethic stand for? Business ethic means a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment. In my opinion it is difficult to measure if the business is ethics or not.

For example,Nowadays more and more child would like to take a job rather than to be educated , especially the children's family who living in poverty,in terms of this situation, if the child who can find a job it could helps them in the future development of life standard. So some company, like sportswear business, they want to cut the cost so they recruit and use child labour, even though it is illegal, however, if children want and willing to do it may help them to get money, and for those business use child labour can reduce their cost which is achieve their corporate objective. therefore in this situation it good for both of them. But in another hand, Child do not have enough experience or power to be responsible a job which is suitable to a adult, in constract an adult had completed his education and maybe richness knowledge. Also the child labour in some countries is really poor, they work very hard, but their boss still give them low wages, or some managers in a company do not care if they are child or not and give them some massive missions, and because of that some children get ill or keep bad health. So this behavior is absolutely against the business ethics.

I would like set the sport wear business moves production of its trainers to a country that employs child labour in order to cut the production cost at first of the rank. Because to my way of thinking they may employ the child labour to the first floor to produce the materials,and because they want to reduce the cost they would like to pay low wages to those children, and the mission of children there will not be relax. For example some of those child labour in order to earn more money, they may over working, then they eat a little, go back home very late and so on. those elements above will leading the child labour keep a bad healthy and some safety problems also if they make some mistakes they boss can easy to cut their wages , meanwhile they will be easy to fire by their boss. So i think it is not fair for these child labour. In another hand because of child labour is illegally, they may get a bad work condition from this company because this company need hire them and the child labour do not really care about the work condition, but there are some potential problem. For example if they work there for a long term it will be demotivating, also there will be some accident happened cause of the bad work condition.

In summarise , I think the 9th action is first if the rank, the reason of this is which I mentioned above. How do you think of it?

Dilemma 7 The liar

2009-09-28T22:38:00.003+01:00

OK, after I read this Dilemma, I think Bernard do the right thing. Because Bernard and Zjamel have a extent love affair, and for both of them believe each other. However Zjamel doubt Bernard has an affair with Ethel, but I think even though Zjamel doubt them in fact she do not want to trust it, because girls always like this. Therefore if Zjamel ask Bernard about this thing, he will not tell her the truth. For Bernard this is like opportunity cost, because if he tell Zjamel about this truth, it will be hurt her, and then they will break up maybe, and cause of Bernard and Ethel just affair which is means they will not keep a long time, so when they stop this affair, Bernard lose Ethel as well. So the resulting for tell truth to Zjiamel is lose two of them. In contract, if Bernard lying the will change the situation. Like the article mentioned about the Nietzsche's dictum that 'lying is a necessity of life' , so if Bernard tell Zjamel he do not have an affair with Ethel, it makes Zjamel feel better, and then their heart will become more close maybe. This is like trade off, Bermard tell the lie to Zjamel but he keeps Zjamel to stay with him, but he lost Ethel, at the end of the article, they mentioned about that Bernard and Ethel have got board of affair, so it means they stop their affair. Bernard and Zjamel still together. So i think Bernard did a right thing.

The law of diminishing return

2009-09-27T20:25:00.002+01:00

After I read Siyi's blog, I decide that I will write about the law of diminishing return as well.

In economics, diminishing returns refers to how the marginal production of a factor of production, in contrast to the increase that would otherwise be normally expected, actually starts to progressively decrease the more of the factor are added.

For example the land, it leading to restrict the production, unless increase the land and improve the production then the performance will be getting better. How is the law of diminishing return relative marginal cost marginal cost is the change in total cost resulting by one extra output per unit.Thus once the diminishing return start, the marginal cost curve slop upwards,
because when the diminishing return achieve the obtain points it start to increase, for example, there are one people use computer to produce a product, therefore when he stop use computer, the product will be stop to produce. Then the industry will recruit one more labour, thus when the first staff go to rest, then second one will continue to produce, therefore the output will be increase. However if the industry still recruit more labour to work in this industry,For instance if there are 3 people use the computer together, it increase the output, but the marginal cost will increase as well, because the company will spend more on the labour salaries, and also the third one may get less salaries than the first and second one, so he will think it not fair and demotivating too.

Transport Economics

2009-09-24T21:34:00.000+01:00

What is transport means? Transport is the movement of people or goods for various personal and business reasons. Transport as a derived demand, people want transport because it enable them to do something, for example, business require goods transport in order to carry out activities within their supply chain( supply chain means is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer)
The mode of transport
1. Road-private car
2. Road-bus
3. Rail
4. Air
5. Ferries

Now let’s talk about the factors determine whether a manufacturer should use road or rail transport for distribution of its goods.
I think it depends on different manufacturer. for example for some industries, the road transport almost use van, but the capacity of those car is not enough for transport a lot of goods, so the supplier may need cost more to transport the goods again and again. Opposite, if manufacturer choose rail transport may will solve this problem, because the capacity of rail is quite big, therefore, it reduce the cost. However, sometimes, car transport can satisfy different places demand, but rail can not, because rail transport has specific destination, and road transport is more convenient, it can go to the place which rail transport can not arrive. In another hand, the risk of rail transport may worse than road, because use rail transport will meet some natural problem, like when they transport some goods very expensive and cause rail transport use the train, so the capacity of train is big, so they transport all the goods at once, but if they meet some natural problem like earthquake, they may lost all the goods, but if they use road transport, the natural problem will be better, people can avoid it. Thus I think it depends on different situation.

Explain the main factors affecting the supply of transport services for a transport mode of your choice

2009-09-23T22:21:00.003+01:00

I would like talk about rail of transport services.
what are the factors might affect railway,let's see the characteristics of it. At passenger transport side, provide a speedy means of transport over middle to long distance, and into and out of congested cities and towns. Also it can carry large volumes of passengers in an environmentally acceptable way and is able to compete favorably with air on certain domestic routes. At the fright transport side comparative advantage over road for bulk shipments of basic products and for container traffic over longer distance. there are interchange limitations for certain types of potential traffic. Increasingly used fir intra-EU loads. After know these information above that I think infrastructure may affect it, for example if there are some damage of rail, the rail transport services can not operate, also if they meet some natural accident,like coast,Niagara and so on,those accident will stop the rail and it need a long time to fix the rail. In another hand, the factors of economic also can influence it. For example , with the income of people increasing, people may think about to use rail or not, some of them think about maybe rail will be more quickly than other transports services, because their are lower congestion and may lower price, and then they can save more money. Also they may think about, use rail transport services may waste the time, because almost use railway to transport some things need full capacity, if not the cost of railway will increase, so they need to wait, and also there will be some risks, like the natural accidents.So according to the opportunity cost, they may choose use car or another transport services. Also maintain rail, how to operate rail transport will effect it . etc.

I am not sure about my answer is right or not, I tried to understand the question and answer it,Mr Chris can you give me some suggestion.

Economic:How world's biggest ship is delivering our Christmas-all the way from China

2009-09-22T21:06:00.003+01:00

Let's talk about the benefits and the cost of use the biggest ship to transport!
benefits:
I think there will be less pollution for unit carried and massive the capacity, because they can transport a lot of containers by a big ship. Also it will be reduce the price , because the cost of transport will decrease for instance the biggest ship just need transport thoes goods at once so it save the cost. low labour cost as well, because there are only 13 crews which this case study mentioned. Also low fuel cost per container carried.
costs:
Build a biggest ship must cost a lot, also if a ship is very big, the speed will be reduce because when they want to pass some canal, for example Suez canal, they will use a lot of time. Also ore railway line needed. If they want to save money, the capacity of this ship must be full.
Then, I would like talk about if UK trade with China.
If UK trade with China, they can spend less money to import, also when they transport some products from China to UK, they can creates jobs for transport. Also it leading to lower cost push inflation, because the products from China is cheap which reduce the price of goods. However, trade with China might reduce the manufacture job in UK.

Problem 7 The unexpected exam: Has teacher been Hypocritical?

2009-09-21T20:49:00.002+01:00

This is a interesting article which talk about Logic. Now I am going to discuss the question 'Has teacher been Hypocritical'

As Patricia said there will not have exam between now and the end of the term, which seems like the teacher was joking, he not really want to held a exam. Normally, this behavior like hypocritical, because he said that doesn't mean he will do that things, just because those words can make people to achieve other aims. I think teacher do this because he want to motivate his student to work hard, like Bob said in this case study. Also this idea possible is a real test,just do not need paper and pen, only need these students to thinking, and then it can reflect how those students logic thinking. Bob and Pracitia here are different example, Bob thinks they will have exam and he wants to read all text book before the test day, I think this is a little bit cheating, because short term memorise do not mean can remember for a long time, past the exam doesn't mean it will be fine in the future, so for teacher simple thinking of Bob is a result for this testing. In another hand, Pariticia is a good example for use logic thinking to pass the exam, because she thinking about teacher might be have a joke with them, teacher does not want to have a real test, just according to this way to receive the information of his students which is how will they thin of this question and deal with it. Also, if it a no paper exam, the result of particia is good, because she use logic thinking to solve the question.

Therefore, if teacher hypocritical or not depends on what does the teacher think about, and basis on it the teacher must want to motivate students to work harder harder and harder.!!!!!!!!!

The costs and benefits of High Speed Rail.

2009-09-20T21:00:00.002+01:00

costs of High Speed Rail:

the cost on build and maintain a high speed rail is very expensive.
high speed rail has limited function, because people can not walk or ride a bicycle on high speed rail it just use for the car.
very noisy, it effect people who live next to the high speed rail.
Drive car with high speed will leading to accident
use a lot of land

benefits of high speed rail:

high speed is a benefit as well, because more convenient.
huge capacity f car
low congestion
save time
good for transport

10 solution, End Britain's oil addiction

2009-09-20T20:10:00.002+01:00

I do not think end Britain's oil addiction is a good idea, because it influence the economy all over the world and Britain can not live without oil. We know that oil is a scarce resource, and we can not use it for forever, it must be finish for one day. But now we can not stop to use it.

but in another hand, maybe in 15 years we can exchange the or to electricity, which is mentioned by Shai Agassi. if this will be come true, this is a business for Britain, because they can produce electric car, and sell it, and then they make a lot of revenue from this, and also the oil is save by them. However to invent this new technology car need a long time, and we can not calculate how much money we will spend. Also ,in fact, to end oil addition the other countries which apply oil will effect by this decision, for example, if Arabia can export oil, their economic will decline, because export oil is their main trade which can earn a lot of money.

Anyway, this idea is possible to become reality in the future, because with the information age, nothing us impossible. yeah!!

How can EF increase the profit

2009-09-19T22:04:00.005+01:00

EF is the biggest personal English Educational institution, and it include language study, study in aboard, travel and courses. Nowadays more than 5o countries have EF, which means the scale of EF is very big.

Now, I would like suggest which can help EF to get more income.

set up more symbiosis with other countries agency, which include tourism agency and educational agency. EF has a fantastic advertising, they have video, poster and so on. But expand the scope with those agency will increase the demand, because agency like a advertising.
Nowadays EF has running A level course, this is a good point which add a new types education in EF. Because almost EF is a language school. Because of EF do not have a lot of experience when they establish A level course just for 1 year, therefore, they do not attractive people. However, EF is quite popular of the world, So I think people believe they have a good quality of education,and some of them may want to try to study A level here. In my opinion, to expand the size of A level course is quite important, because it is like if they have a lot of student study in there, it is more attractive, but if just a little, consumer may think maybe something not very good in this school, and of course they may change their mind. Thus I think to expand the size of A level course is quit important.
signet EF logo on bag, note book, pen, pencil box, and anything that can signet, because consumer like those things which may make them feel confidence, like I am from this school, and also people will see EF logo when they go to shopping with that bag or others. Therefore it like a people to people advertisement which can make more people to know what is EF, what does EF do.etc.
pay attention to their competitors, because now more and more educational institute has established and some of them have the same quality of EF, therefore know their competitors very clearly can help EF cut the cost and get more revenue.

these 4 advises above are my own thinking I hope it is useful and if you have more idea please tell me.

Hurbank plc report

2009-09-18T22:05:00.002+01:00

Hurbank is a long established British producer of luxury clothing and accessories.At the start of 2008, Henry,who is the Chief Executive in this company,was asked by Board of Directors to consider cutting costs by relocating Hurbank plc's shirt production from cell ton, in the north of England, to China. In this case study, they give us some data which I will analyse below.

From Appendix A, it seems like the cost of Cell ton factor is more than the benefits. Because according from this data, it shows the trade union membership is 80% of all employees which means trade union is very powerful, this is a good thing for the workers, but I do not think it is good for their boss, because if the power of trade union is very strong, the boss of this company may spend more on them, for example they may ask boss for higher wage or higher work condition and so on. But in this appendix also has a benefit which is the labour productivity compare to five years ago is 40% more, which means they may get more profit. However, overall of this appendix, I do not think Cell ton factory will cut the cost, and also this might be the cause of why they want to relocation of their factory.

let's have a look Appendix B. In this appendix it shows Unemployment in the region of the factory in China is 14% which is very high and that is good for Hurbank to recruit those people with lower price. there is a data shows the average annual pay within Chinese region is 2000 pounds which is very low. in another hands it shows forecasting percentage of shirts returned by customers due to defects if factory is basedin China is 1%, this is a good news 1% is quite low. However, forecasting lead time to retailers is 4 weeks which is take a long time and I do not think retailers want to wait their supplier for a long time. Also the exchange rate of pounds will decrease 18% which means Hurbank will loss some money when they exchange their money to Chinese currency.

Anyway In appendix C, it shows Hurbanks plc get more revenue than before which is a good news and it tell us relocating in China help them save money and get more revenue. these graphs shows in another page approve this point. In appendix D and E are shows the revenue goes up if they relocate the factory in China.

Overall, I think if the company relocate the factory in China they will save a lot of money on employees, land, material, and so on which means they will get more revenue. But before they relocate it , they should do more research to prove if this decision is right or not.

Extra work

2009-09-17T20:22:00.002+01:00

I am not sure about how to write this topic for a right way, after I read Nara's article, it gives me some enlightenment.

I think it is possible to use a scientific approach effectively in a subject that deal with human beings.
Economic exist everywhere and every time. In our life when you leave your house and close the door, you will meet the economics. In this information age, economics is essential for our normal life, especially for our communication. But, for some people who live out with economic society, for example for some tribal society, they do not need money, they do not know what is money. therefore they might do not need think about what is economic and will not have communication with economic. In other hands, like use psychoanalysis, it possible to deal with human beings, because when you know somebody very well, when he/she talk about something, according to her/his face, you will know what will he/she say at the next step. Also about biology, it can measure the action that people might to do. etc.

all the content that i mentioned above are use different way to reflect that it is possible to use a scientific approach effectively in subject that deal with human beings, but I do not think it is easy to carry out, there are some problem they will meet in the future. But I am not sure what those problem are.

Assess the extent to which Sainsbury's plan for 2007-10 likely to enable it to meet its corporate objectives

2009-09-16T22:11:00.002+01:00

In this case study, they mention about 8 plans for 2007-10, there are those plans below:

space growth-10% new space by march 2010.
development of grocery and non-food ranges
cost-cost saving of 155 million pounds in 2007/08.thereafter ongoing cost savings to offset half our operating cost inflation.
channel growth through online and convenience expansion.
profit-profit growth flowing through at a percentage rate in high single digits.
sales growth-total additional sales of 3.5 billion pounds by March 2010.
cash flow neutral over 3 years.

Because this is a team homework , Nara wrote about Space growth. Here I would like talk about Sales growth- total additional sales of 3.5 billion by March 2010.

I think this plan is likely to enable it to meet its corporate objectives, because Sainsbury has a big market, and it has a good reputation. the demand of it almost is elastic, they catched the customer loyalty that helps them to improve the sales volunm easier. For example they can open more stores which can saticfy more demand, and also expand the advertisement also can let the demand increase. Also they have the experience for how to sale and how to attractive consumers, it is good for enhance the sale. By the way, for a big company they have enough finace to produce more products, also increase the economic of scale which can help the sales growth.

However, additional sales of 3.5 billion pounds by March 2010 is not very enough to achieve this aim. Because in terms of Sainsbury, profit is not that changeable, they almost get the same profit because they are a supermarket. 3.5 billion is quite a lot, and just use 1 year may is not very easy. Just think about if they face to some current situation of economy is not good, for example recession, they may not can get the profit as much as before. Also they nee pay attention to their competitors, because if they reduce the price or got a better customer services ,more and more customer will go there and purchase on those products. In other hands they need do some market research and make some SMART objectives in order to achieve it. Therefore they may spend a lot of time. Also the material price may increase, so it depends on different situations.

At the end, I still think sales growth is likely to enable it to meet its corporate objectives, the reason of that like I mentioned above.

case study,question 2

2009-09-15T21:04:00.003+01:00

Functional objectives are the overall aims and mission which in order to achieve the corporate objectives. In this case study, one of the corporate objective channels. Actually, there is a functional objectives that the case study mentioned, which is to extend the reach of sainsbury's brand by opening new convenience stores. Well, let's talk about the functional objective. openning new convince store, for example 24 hours supermarket which can help increase the demand. Also if the sainsbury has more stores it can enhance the reputation of this brand, Sainsbury will become more popular, because if you can see sainsbury everywhere, it will be attractive, and then the demand will increase. Indeed, Sainsbury could become a franchiser and they can seek some franchisee. From those franchisee, sainsbury can get more income of entry fee, also depends on the brand franchisees can get revenue more easier or get more revenue as well. Well I think this is a good correlation. However, to opening a new stores not very easy,because they need spend time to look for the land where is a good place that can build a new store. Almost the function of the land include high population, good environment, and so on. But id all functions are achieved which means it will be very expensive to rent. Also opening over demand stores that they need care about is every store of sainsbury has a good reputation, I do not think so .. Therefore they need think about those problems and if they want to solve them, it must be waste the time and money.
Anyway, I would like introduce my opinion which is they can make a limitation that the amount of how many store should be open and what is the different size of each shop. If they make those rules the problem may easier to deal with. Because there will not have over demand stores, and some of them will not waste, also a limitation of the size of store will save the money for example do not need spend a lot of money to maintaim some facilities or easier to layout and so on.

meeting the developing world

2009-09-15T20:38:00.004+01:00

Sir Richard Branson said developing countries will lead the world economy out of recession and that returns on investment will be higher there for the foreseeable future.

What I am thinking about that is catch a opportunity from the crisis is a successful entrepreneur's skill. like Richard said"the worse the crisis, the greater opportunity."

what is the opportunity in recession for a entrepreneur,for example some products will reduce the price when is recession, because that time the demand had decreased. therefore, some of people buy a lot and stock them after the economy recovery, they will sale it again but with higher price. So they can earn more profit. in another hand, when the world face to recession, a lot of people loss their job, so, some people know not every people who loss their job are not useful, then they may recruit them with low wages but those people achieve the standard that they need. etc.

But the problem of catch a opportunity from recession is the risks, they might get loss if they make a wrong decision , because in fact we can say recession is means the economic is negative and not stable. therefore, entrepreneurs need spend time to think about is this opportunity help them a lot or just do nothing.

10 solution of rebooting Britain-revive the export economy

2009-09-15T20:05:00.002+01:00

Export means sell the product and services to other countries.
Nowadays not only Britain face to recession, but also all over the world meet this problem. Therefore we cannot measure revive the export is good or not, thus I would like talk about the advantages and disadvantages of if revive the export.
There are some advantages of producing manufactured goods and export them. Because of the government wants promote the injection,which including the government spending, export and investment. Then they should producing manufactured goods, because it is cheaper than import those goods from other countries,actually they can save money. Secondly, the market of those goods may become competitiveness, because it can motivate the market share growing, which may let more people to know it, and demand of this goods will increase, Also exports can help the international trade of Britain. Thirdly, because of the government wants to growing with an injection of investment, therefore , they can get the invest from other countries, which means they can get more capital to produce more products,then the demand can be satisfied.
However, because of the recession, manufacturing some products it's quite difficult to start. This because they need to know what are the appreciate to produce, are there a lot of competitors and so on, all of these question that they need think about, so they will spend more time, more money as well. Where they can buy the materials, if they have, that's fine, if they do not have which means they need buy materials from other countries. In fact recession is globally, therefore, the price of materials is more expensive than before, so they will spend more. They can borrow money from other countries which can help them to produce more products and then export. But this is not good for the future, because they will receive a lot of national debts which may give them lots of pressure in the future.

Anyway, revive the exports economy is a solution which can help rebooting Britain.

Examine the problems that might emerge if Sainsbury's does not set SMART objectives

2009-09-14T21:01:00.000+01:00

Firstly, what is SMART stand for?
S means specific
M means measurable
A means agree
R means realistic
T means time bound

after we know what is SMART mean, now, let me examine the problems that might if Sansbury's does not set SMART objectives one by one.

1) if the objectives are not specific:
let's have a look of the plan for 2007-10, in case study, they describe their plan very clearly, for example, space growth, there are 10% new space by March 2010 will be build. Actually, this example reflect that this is a specific objective, therefore if they have a specific objective that means they can make a specific strategy which can achieve it. So they may save money and time , which means the problem of this might be, they will get loss if they do not have a specific objective.Also they do not know how many time they need, they might waste the time on some thing which are not useful. Also it may demotivate labours, because staffs do not know what should they do and how to do, and also they do not know the value if they do this non-specific objective.

2)if the objectives are not measurable:
If the objective is measurable, it means that the measurement source is identified .Measurement is the standard used for comparison. For example, what opportunity cost means to me may be different compared to what is means for you. So if you know and you can measure which means you may can manage it. because if a Sans bury can measure,it will encourage and motivate them, measurement will tell us when we need do what, and maybe how to do, but if the objective is not measurable, which means we can not get a encourage and motivation, the productivity may decrease and the benefits above are difficult to achieve.

3)if the objectives are not Agreed(same as Achievable)
Objectives need to be agreed , if the objective is too far in the future, you’ll find it difficult to keep motivated. Also because Agrees objectives need manager and coordinate are involved in setting the targets, therefore if it not agreed it might waste the time to setting a target.

4)if the objectives are not realistic
If the objective are not realistic which means they might be difficult to achieve the objective and then may have conflict with other objectives. I think it will be waste the money and time. by the process, the staff may demotivate because of the time and so on.

5)if the objective are not Time bounds
if the objective are not time bounds, they may become more difficult to organise the finance because sans bury will not have a specific plan of future and they do not know how much money they will spend, for example they said sales growth- total additional sales of $3.7 billion by march 2010. If they do have a time bounds they will make a plan if they achieve this objective what will they do, if not what Will they do as well. therefore just opposite id they do not have a time bounds objective.

at the end, hope you can give me some suggestion if you think i am not right of the content above, thanks

Chapter 1 my version(50 words)

2009-09-10T20:46:00.000+01:00

Functional objectives are set for each division or department of a business.Also the functional objectives will use to ensure that the business can achieves its corporate objectives.
corporate objectives are design to enable a business achieves the aims and mission.
A strategy is basis on a specific objective, strategies are the medium to long term plans that how a business achieve their objectives.

10 key points

1. functional objectives basis on corporate objectives.
2.functional objectives is an individual department of business.
3.strategies basis on objectives.
4.it is important to make sure that all members are understanding the overall objectives.
functional and corporate objectives are SMART:
5. specific-very clear and easy to define
6.measurable-quantifiable( e.g to reduce the market share from 40% to 25% in next 2 weeks.)
7.agree-manager and coordinate are involved in setting the target.
8.realistic-no conflict with other objectives
9.time bounds- basis on the accurate time (e.g build 10 news stores)

10. business strategies is a medium to long term plans.

Niall Ferguson-- reduce the national debt

2009-09-09T21:36:00.000+01:00

According to the news, that I can know, if UK wants to reduce the national debt, the government needs to increase the tax and cut the government spending. therefore the government will get more income which may help the treasury to increase their financial assets. Then the national debts will decrease.
advantages:
For a long term, a low national debts is good for the development of domestic economic. Because less debts will reduce the pressure of the government, they do not need think about how to return the debts anymore. Then they can pay more attention on their own economy. Also reduce on national debts classify the economic of this country is not bad, it may growth which is better than before. Also reduce the debts may save more money, because the government may not pay the interest rate, and nowadays, the exchange of English pounds is depreciating, which means they will pay more money to the country that lent money to UK.

disadvantages:
In another hand, reduce the national debts is not a good idea, because if some crisis suddenly happened, for example global recession, the government can not deal with it on time, cause they do not have enough money. also they can not spend more to encourage their domestic business,such as invest some small firm, help some company which face to bankrupt and so on.
For instance, in 2012, UK will hold the Olympic games, for the government this is a quite big leakage, so they need borrow money from other countries.
But for the content above depends on the different countries. some rich countries are not really a debtor, they might be a creditor. otherwise for some poor countries, their treasury may become empty, they need help from other countries. Also it depends on different situation of different time. For example, nowadays, all the world face to global recession, America which is the richest country,but they borrow more than 10 billion dollor s from China ti deal with the problem.
conclusion:

At the end, I think reduce the debt or not depends on the different situation of different countries, because for different time reduce the national debts will bring the different effects for them, even though the good or bad effects.

May Ball

2009-05-30T16:54:00.000+01:00

Torquay is a beautiful city, I like it, even though the environment or citizen there.

This is a good experience to joined the ball, actually, this is my first time to join a ball like this. Every body is cool, and some body are very tall , hehehhe....

Mr Chris why you not to go,,,so good, you need to see how a fantastic dancer Robin are........

now,,,May ball was finished , I start to revision very very hard:)

after exam

2009-05-21T23:09:00.000+01:00

Today we finished our business exam, I thought unit one is easier than unit 2, firstly because of the time and then I think because of my knowledge of unit 2 ,But I was try my best, hope I can get a good grade that I think it is satisfy, maybe B or C, and unit 2 I just hope higher than U, because I know I will get a bad grade of unit 2.
Now I will prepare the next exam, and I will try my best to get a maximum marks.
Mr Chris, I am miss you so much...:)
I want to continue to study business at next term.....

answer

2009-05-04T22:28:00.000+01:00

1. b
2. d c
3. b
4. a
5. b
6. a c
7. a
8. b
9. c d
10. b c
11. c a
12. d a
13. d a
14. a
15. d
16. c b
17. d c
18. c d
19. d b
20. b
21. c
22. d b
23. d b
24. d c
25. d c
26. d
27. d
28. b
29. b
30. b d
31. b
32. a
33. d a
34. d
Explain the difference between a change in demand and a change in quantity demanded. What leads to each of these changes?
Demand is how much is bought of something based on a price. It indicates how much it is needed or wanted.
Quantity demanded is the total amount of goods which individuals want and are able to buy. This is important in economics, because supply and demand decide how much of a good will be bought and sold. It is the amount of goods that people want to buy at a given price.
Demand would be the whole curve. Quantity demanded is the amount of the good consumers are willing and able to buy at a certain price. If the price changes, you simply move along the demand curve.
What lead to each of these change:
1. demand :
 income
 taste
 the price of substitute and complements
 interest rate
 consumer population
 seasonal/time
 currently economic situation
 consumer’s confidence
2. Quantity demanded
 division of labor
 change in price
 income
 taste
 the price of substitute and complements
 interest rate
 consumer population
 currently economic situation
 capacity
 productive efficiency

Therefore if income rises the SLOPE (gradient) of the demand curve changes...to the right.，

2009-05-04T19:16:00.000+01:00

Income effect the demand elasticity, because demand of consumer is basis on their purchase ability, for example, if income per capita reduced, they may do not want buy some luxury goods like before. But if the goods is essential ,like food, or drink, there are not a big change in demand. so change in income leading to change the demand, but depends on price elasticity of demand.
Let’s talk about the elastic curve:

1. Perfect elastic:
generally, the good which has the perfect elastic demand which means the demand still change even though the price change or not. So here, I think the demand curve will not change.

Elastic:
Also this depend on the types of goods . For example, when income rise the demand of inferior good may reduce, so the demand curve may shift to the left, and if the goods is luxury goods, the demand may shift to the right, and normal good may expansion.

3. Perfect inelastic:
Not change, because the demand of this goods is inelastic which means does not matter the price change, but I think he size of change in price will effect demand.

4. Inelastic.
Depends on different types of goods, but I think it most likely to contraction, some of then will shift to the right, for example Giffen goods.

Happy birthday to dear Mr chris and siyi

2009-05-03T16:01:00.000+01:00

happy birthday Mr chris,,,hope you every thing will be fine for example,,,,lose weight.....get more handsome,,,get a good hair style.......
thanks for your helping this and last year,I am very glad to meet you ....you are my favourite teacher,,,hahahahahhahahaha....................
siyi,,,,,Happy birthday,,,,,same day as Mr chris.....good good......ok,,,,,,,,
siyi,,,,beautiful girl...hahha
siyi hope you happy everyday..
find a boyfriend when you 17 yeah????
okok,,,tonight,,I will cook delicious food for you.......hahaha
加油啦，，，，，一起加油！！！

Economic homework.Swine and flu

2009-04-30T23:33:00.001+01:00

Swine and flu effect more than 11 countries health, which is very bad.
But now I want to talk about the effect of economic by swine and flu:
Advantages:
1. It boost the demand for the hospital, including doctor, nurse, equipment, medicine and etc.
2. The demand of demerit goods decrease.
3. Decrease the pressure of a country which afraid of the economy of other countries develop a lot than them.
4. The demand of pork's substitute will be increase a lot.
5. The tourism of Asia will be increase, because Asia has the best health situation currently.
6. Increase the supply and demand of vegetables, some daily foods that we need, because some people now in Mexico start to stock food.
7. Increase the demand of flight
Disadvantages:
1. Government spending will increase a lot. Including avoid flu's, increase the security, a rise in hospital equipment, and doctors or nurse and etc.
2. Demand for complement of pork's will decrease.
3. Health standard decrease.
4. Low confidence for people
5. AD decrease.
6. Market failure
7. Waste time.
8. Stop to economic development in recession
9. The loss will be more in every countries.
10. Recession globally will sustain longer.
11. Affect macroeconomic performance
Anyway , I do not think people like the advantages that because when the swine and flu occur.
So I hope swine and flu please disappear, do not kill people again.
We need health,and our life.

after mock exam...

2009-04-29T22:52:00.000+01:00

OK,,, I know I get a bad result,,but when I did it, I thought it will be OK, I will get a result which is not bad, but the answer is no, impossible. anyway I never have confidence like today. I think I know what wrong with me.

poor business knowledge
poor examination skills
poor English
poor writing
poor....

but even though everything above are poor, I still think I am improving. So what can I do, study hard and harder and hardest. I know good grade for me is important.

And if I want to be a manager, grade E go away,,, Grade A welcome.....

swine flu? Economics? Natural protect?

2009-04-28T20:28:00.001+01:00

I think everybody knows swine flu is flowing now, what do you think of it?
In my opinion, the globally recession will get worse.
But now I do not want to talk about recession, I want to talk about what wrong with our life?
In China, how many natural calamity and problem are we met in 2008, disaster of snow, the earthquake which was very strong ,leading to more than 10 thousands people died, they are students, teachers, doctors and other people, I am lucky that I am alive, but the scary memory still in my mind.
No earthquake in England? How about this? http://news.bbc.co.uk/1/hi/england/8022583.stm
The earthquake in Italy is not a heat for them?
How many time of forest fire in different countries?
Now, how many people die because of swine flu?
Globally recession just because money?
How about these factors ?
I think these are important factors of recession globally, different countries are pay out the different cost.
Nowadays with natural disaster increase, we need pay attention to that, and try to find the reason.
Economic exactly essential, but when we think about economic,did we think about how we get a economics? Chop trees? Kill lots of animals? Tap natural scarce resources? In order to development, we award forest fire, swine flu, and earthquake? Also wars, illegal business, how about them ? They are break our life as well.
Why people now become such incurable, in order to their own benefits, we loss a lot ,a lot of things. If we continue do that, maybe our home will be disappear.
Now natural give us a serious warn, if human still break the natural, the result is the earth will become empty .
Here, I just want to say,please do not break our essential natural: plants, animals, rivers,oceans, every thing which are exist in the beautiful natural. You have to protect your own home by yourself.
At the end, hope everybody have a good health. Take care.!

Mark Nara's past paper.

2009-04-27T20:26:00.000+01:00

严瑞阿不是我的错啊！！！！！
I gave Nara's paper 20 marks which is not very good, now I would like to explain the reason why I just gave her 20 marks.
About question one.
a) she said primary market research is a basic and important research , and she gave the the another name of primary market. But I just gave her 1 mark, because I think she did not mention the specific purpose. (1 mark)
b) In this question, she need answer what is sales budget means, so she should mention planned income for a business over a set future period. Here she just talked about the period time and money, but she did not said what types of money, (income) and the purpose is a whole business not a person. So I just gave her 1 mark here. (1 mark)
c) State two characteristics of a successful entrepreneur such Paul stamp. According to the question, she need to know what is characteristics stand for, and then state it. So here her answer seems like totally wrong, but I think compose these two answers together.I can say she means prepare to take risks. So I give her 1 mark. (1 mark)
d) In this question the candidate should consider there are 4 marks so according to the question as we know, 2 marks for definition of secondary market research and then 2 marks for explain why it was important.... Here she just mention a little point which is relevant this question that is marketing research can help Paul stamp to know more details. So I give her 1 mark here. (1 mark)
e) In this question, candidate need use proficiency and totally correct calculation. So here , she get all the correct answer and calculate process, she gain all the marks ( 10 marks) well done!!!!
Question 2
In this part, it is more difficult than question one, because business knowledge involved is more than question one and how to answer it by useful words is test your ability. therefore, we need improve our ability to answer the question by right way for gain the highest marks that we can, and the most important thing that we should to do is get a good revision of business,of course other subjects as well.
OK let's start examine this segment.
a) The candidate need ANALYSE this question, Analyse means you need explain, give examples, argument. Ok let's see what this question talk about. In this question, the candidate need analyse the possible factors that pual stamp should consider when looking for new premises for his business. Therefore, she need consider the premises, so link to the case study and get a relevant answers. So she need mention the cost of purchasing which was correct in her answer paper, and then she need talk about financial to purchase premises which she didn't mention. Also she mentioned people, I think she wanted to say customers so I give her 1 mark here. But in this answer paper no argument, no enough explain, not really link to the case study, and no examples. So I gave her 2 marks. (2 marks)
b) This question is the candidate need explain what is sole trader and partnership and then talk about advantages and disadvantages about each of them. Then give your advice according to the advantage and disadvantage, like a argument. Let's see her answers she didn't talk about what is sole trader and partnership stand for, she did not talk about advantages and disadvantages just mention a little which is limited liability, and extra funds from partner,but nothing else, so I just gave her 2 marks. (2 marks)
c) The candidate should explain of feature of primary and secondary research, she did not. But she mentioned both of them can help business plan, so I gave her 1 marks here. Then customers and I gave her 1 marks here, but nothing else. No explain , no example, no argument, not enough link from case study. So she just gain 2 marks (2 marks) \
So total marks is 20/60 which is not good enough, hope Nara working hard,and hope this analyse of her paper is helpful and I will be work hard as well.
I am sorry, I can not mark Lex's paper, is too difficult to read it clearly..

Financial intervention to overcome market failure

2009-04-26T21:08:00.000+01:00

1
2
Today I was talk about financial intervention to overcome market failure, this title like the last one, but it's different.
Market failure is when the free market mechanism fail to achieve economy efficiency.
Financial intervention is a intervention of government to correct the market failure by

If the government want to make something more expensive, they can use taxation.
If the government want to make something cheaper, they can use subsidies.
Let's talk about tax, they uses taxation on market failure when is negative externality and demerit goods which is over consume .(draw a diagram 1)

This diagram shows because of too much of products consumed, and a lot of produce of a firm. So what should the government do? They increase the indirect tax on the product. So because of the high tax to produce to a firm , therefore the supply curve shift to the left,as the supply curve shift to the left, that means the price increase from P to P1, therefore with out increase in price, the quantity will shift to the left from Q to Q1. So here, financial intervention to overcome market failure because less consume, less quantity and less produce. So there will more allocation efficiency to use scarce resources.
For positive externally and merit goods,they are under consume and under produce, so the government need subsidize them to increase the produce. So after subsidize the cost of produce is reduced,Supply curve shift to the right, and then the price goes down,also the quantity shift ti the right from Q to q1in this case , the resources allocate more efficiency , therefore the market failure is overcome(draw a diagram 2)

tutor 2u

2009-04-26T18:43:00.000+01:00

private limited company (Ltd)
A private limited company is the most common form of company. The shares of a private limited company are not available to the general public to buy and sell on a recognised stock exchange. The company is owned by shareholders.
AdvantagesLimited liability – by far the most important advantage of incorporation. Limited liability protects the personal wealth of the shareholdersEasier to raise finance – both through the sale of shares and also easier to raise debtStable form of structure – business continues to exist even when shareholders changeProvides more privacy of information than an public limited company
DisadvantagesGreater admin costs (though much cheaper than being a public company)Public disclosure of company information (annual report & accounts + annual return)Directors’ legal duties (set out by Companies Act)
What motivates someone to start a business?
The popular perception that the main motivation for starting a business is just to make money - i.e. to earn a return from making an investment and taking a risk.
There is certainly plenty of evidence to support this perception. However, research suggests that there are many more reasons why someone wants to start a business.
Here are some of the motives that are often quoted by entrepreneurs:
More control over working life – want to choose what kind of work is doneNeed a more flexible work schedule, including being able to work from or close to homeFeel that skills are being wasted and that potential is not being fulfilledWant to escape an uninteresting job or careerA desire to pursue an interest or hobbyFed up with being told what to do – what to be the boss!Want the feeling of satisfaction from building a businessWant more of the rewards from the effort being put inFed up with working in a business hierarchy or bureaucratic organisationAs a response to a shock in personal circumstances – e.g. redundancy, illness, bereavement.
Read more ?
http://www.tutor2u.net/blog/index.php/business-studies/C360/

financial assistance

2009-04-26T18:16:00.000+01:00

“Evaluate the view that the government should give financial assistance to firms producing cars in the UK to increase their competitiveness.”a. What does financial assistance mean?b. What different forms might it take?c. Draw on recent examples of occasions when financial assistance has been asked for or has been forthcoming. What does competitiveness mean? It is a concept with more than one meaning.e. Which firms might be offered financial help?f. Who are the stakeholders involved in such decisions?g. Who gains and who loses in the medium term from state aid?
I copy this from Mr chris's blog, and now I try to answer this question with the steps that he gives to us.
A.what does financial assistance mean?
Financial assistance means refers to assistance given by a company for the purchase of its own shares or the shares of its holding companies.but it is also use for markets.
B. What different forms might it take. I think this question means what types of financial assistance,so:
The most common type of assistance is a financial guarantee for a loan and/or third party security to allow a borrower to borrow money to buy shares which is routinely given (to the extent legally possible) after a leveraged buyout in support of the new owner's acquisition debt. It would also normally include a gift or loan from the company or any other act which reduces the net assets of the company to a material extent where this is done for the purpose of the acquisition of shares in itself or its parent.(wikipidia)
c. Draw on recent examples of occasions when financial assistance has been asked for or has been forthcoming.
I think I would like to talk about recession globally. Because this is a main reason of a lot of firm or market need financial assistance, even though england or other countries.
Recession is a fall in real GDP over a period of 6 months.in 2008 recession affect every country, like for England exchange rate decrease until now. A lot of companies face to bankrupt, and market face to fail,and the companies and market are like that has bben asked for or has been forthcoming financial assistance.for example Some export companies face to bankrupt, and domestic unemployment keepincrease trend. The government use financial assistance to help them and make them arise. Like subsidies and decrease interest rate to help investors borrow money easier, also they spend money to maintain market run, or invest by government leading to some export companies or some companies run or get better, and then to increase the whole economy of england, but now for england just financial assistance may not deal with the main problem they need consider about other countries economy and then design the right method to face and solve it. Also I can talk about Chinese financial assistance, recently, a lot of news of different countries report that Chinese government assume more than 30 billion policy to enlarge the domestic need leading to increase the domestic economy, and also there is a 0.4 billion save market plan,because this global recession, Chinese export market and companies,domestic manufacture or tourism, etc arise decreased, and some of them ask for financial assistance to correct their business, but the known financial assistance of China recently is the rebuild the city where damage by the earthquake. Chinese government spend more than 700million of them .According to above we can see the firm and market which affect by recession need a financial assistance.
What does competitiveness mean?
Competitiveness is a comparative concept of the ability and performance of a firm, sub-sector or country to sell and supply goods and/or services in a given market.
e. Which firms might be offered financial help?
I think this question means what is financial assistance target.
In this question, we need talk about firm, so I think the firm who face to some problem like cash flow problem, cost push inflation, ,new firm, face to bankrupt, or credit crunch, but they should have potential development ability, or a stable market, and the cause of those problem happen might be current economy. So I think these types firm might be offered financial help.
f. Who are the stakeholders involved in such decisions?
I am not sure what is mean about this question ,but in my opinion I think it means who can gain the benefits from financial assistance to other companies or markets, like a positive externality.
So I think the stakeholders can be complement of those companies or markets which offered financial assistance. For example the england car company get situation get better, they may increase the import of material from other countries , thus the demand of those manufacture firm will increase. Also consumer is a stakeholder I think
Because producer have financial assistance leading to they increase the output , and then in order to correct their marketing, they maybe reduce the price, so for consumer it god for save money. etc.g. Who gains and who loses in the medium term from state aid?The value of after state aid is good, like exports, like China increase production, rise the government spending help China marketing,this marketing and some company involve gains the medium term from state aid. Opposite, the value of after financial assistance is bad, like SanLu milk power company in China, they loss their medium term state, because their market is nothing now, even though they are a famouse and big company in the world , but bad reputation, bad quality of production make them loss chance.
I do not know my answer is totally wrong all a little bit right , but I try my best to do every question. If you think some answer are wrong, can you help me to correct it ?THX

evaluation: use government policies to cut the unemployment

2009-04-26T12:42:00.000+01:00

There are three government policies that we know:
Fiscal policy-fiscal policy is the taxation and spending decision of government.
Monetary policy-monetary policy is central bank and/or government decision on the rate of interest, the money supply and the exchange rate.
Supply side policies-policies designed to increase aggregate supply by improving the efficiency of labour and product market.
Unemployment means people who without work or seek a job over a period of time.
For a short term unemployment, which means the AD goes down, and in order to correct AD, government can use monetary policy,decrease the interest rate. Leading to the company easy to borrow, also decrease the the saving of people, leading to they spending more on goods. But if they decrease the interest rate which means the exchange rate decrease as well, so the injection increase a lot, will boost the AD increase a lot and then leading to demand pull inflation(draw a diagram) then,government will deal with this problem, the unemployment may increase again, therefore is difficult to measure. . Government may use fiscal policy as well, increase government spending and decrease for example,use taxes and subsidies(draw a diagram.) as a method of influencing the market price of a product, a low tax is placed on a merit goods, it may increase the demand .and spending more to encourage some small firm as well. But because of a high government spending increase the leakage, and low tax, increase the disposable income per capita, this way also rapid the increase of demand,leading to the inflation as well. So this is also difficult to measure.
About long term which is we need mention AS, and if the AS increase it helps reduce the unemployment .use the supply side policies to cut the unemployment, such as encourage small firm, decrease the power of trade union, low tax, and increase investment etc. Decrease the power of trade union, the cost of wage for employees will not increase. But employees do not have high wages they may do not work very hard, or leave your company, the out put will decrease. Also increase of subsidies fro employees and increase the investment, increase subsidies by government can help the company reduce their cost, also government will decrease the interest rate to easy lent money to investment, and increase investment can cut the cost of supply and increase the output. But the problem like I said above, it might increase the inflation, but this time is cost push inflation.(draw a diagram)

Motivation 1

2009-04-22T22:24:00.000+01:00

Before I start to write motivation, I shoul dsay we are work hard , we are care about our exams!!!!!!!!!!!!!!!
Ok,now start writing
Motivation is a way to encourage employees work hard leading to increase productivity.
The types of motivation:
1) Taylor
2) Mayo
3) Maslow
4) Herzberg

Taylor motivate employees is money
Mayo motivate employees by social factors, for example social contact, working with group
Maslow people need basic first
fgnuyvHerzberg such as company policy, supervision, working conditions, pay and relations,which means sort out a good environment first.
I remember when Shasmin thought me about motivation in easter course, she said :
when we talk about motivation we need focus on Hierachy, which means the different level of employees, but I am not sure it is right, cause I can not remember it clearly.
(Hierache:the traditional structure is a series levels, where each level has responsibility for, and authirity over, the levels below, this is called Hierachy)
For example
Motivate manager, because they do not really care about their wages, for them the work condition is more important, therefore, herzberg motivation may more suitable for them.
And about junior employees, money is a main motivation for them, the wage get higher, leading to encourage them to work hard. So here, Taylor motivation is better for them.
Maslow can motivate every level of employees, Mayo motivate the similar employees as well I think.

Discuss how an increase in aggregate supply may affect output and inflation

2009-04-21T22:32:00.001+01:00

Aggregate supply is the total amount that producers in an economy are willing and able to supply at a given price level in a given time period.
Increase in aggregate supply can meant by the supply curve shift to the right, there is the diagram shows at the above

From this diagram that we know AS shifts outwards and a new macroeconomic equilibrium be established. The price level has fallen and real national output has increase from Y1 to Y2.because the cause of increase AS may be increase the capacity, so the unemployment will be decrease as well. Therefore, the productivity get better, it makes the output increase. But also it is depends on the capacity I think, because if the capacity is small,and you increase in the AS, a limited capacity can not produce more, so increase AS will increase the cost, for example , you need pay variable cost . Also depends on the elasticity of supply, if the AS becomes perfectly inelastic, at full capacity it is not possible to produce and more, irrespective of how high the price level rise.
when we face to inflation , the AS1 curve is on the left to the AS curve, so increase in the AS, can reduce the cost push inflation , because the price level decrease, the cost of production goes down, the factories can produce more to satisfy consumers. But if is the demand pull inflation, the increase AS may push the inflation, which means the inflation will be increase.

Mr Chris

2009-04-20T22:53:00.000+01:00

Mr chi rs,I have booked the individual lesson of tomorrow lunch time today , could you please teach me about Unemployment(especially types of unemployment) and motivation.Thanks.:)

Case study

2009-04-20T20:33:00.001+01:00

To what extent might the use of these technique increase the company's chance of success?
Cash flow forecast is a detail estimate of a firm's future cash inflows and outflows per month.Budget forward financial plan usually involving a cash-flow forecast, forecast sales and forecast costs. In this case study we know there is more risky of their niche market. Cash flow forecast can help them to reduce risks, for example, when the demand of their products decrease, the profit goes down, they do not have enough money to produce, they need to enough money to keep their production, so if they did cash flow forecast, they do not need worry because they have enough money to deal with these problems, the money may from investment. So risks decrease, they will save money to deal with some questions like this, hence, they will use he money to increase the productivity, or increase the quality of their product, then the reputation will get better because of it, so more and more people become their consumer, of course the profit will increase a lot. So it helps the company development,which means easier to gain success. But it is depends on the demand elasticity. For example if the demand is inelastic, if they increase the price , the demand will not change a lot, but if the demand elastic, the demand will be opposite of the above.
The budget's function is better than cash flow forecast, because it is contain cash flow forecast.therefore budget can deal with the cash flow problem of short run and the production of long run. At the short run when the company face to cash flow problem, they can deal with by their cash flow forecast, like I said last paragraph. And at the long run, when this business face to recession or inflation and so on, some of the UK economy problem will effect their production, but because their have a good budget before, they can keep or increase their production to satisfy consumers, to achieve income increase or stable. This is also increase the company;s chance of success.
Also in this case study, they said Hoggard Organics use these two techniques before they expansion into UK, so it will be easy to start and more efficiency, because they save money and they have enough methods to deal with the problem that they will face, this is a good start. Therefore,In this way, it helps increase the chance of success of this company as well.

I try my best , butI still think my answer is not good enough. hope you can help me.Thanks

What has been the impact on the UK of the ' China effect.'

2009-04-16T22:29:00.001+01:00

GDP growth is raising
The AD will shift to the right, so it is demand pull inflation , therefore the export of UK will increase, if the demand of the products is elastic that import from UK,because people can afford more. But the Chinese government need to reduce the inflation, so they will put tariff ,quota or import control to cut the import, therefore the export of UK will decrease when Chinese government protect import.
Consumer spending increase
People have more money, they would like to travel ,study, invest, or start a small business in UK, so the AD of UK shift to the right it lead to UK macroeconomic performance
-Unemployment goes down
-economic growth
-Inflation as well
-balance of payment: high consumer spending injection to the economic of UK.
Capital investment
In this topic, I think we need considered on international trade, because there are a lot of capital investment in China expressed that the market of trade in China is big, investors can gained lots of reward from there, therefore they wanted to invested in China. Also the market is good means we have high AD of this market,even though domestic and international. For example UK's investors know that British like Chinese tea, there is a market in UK of Chinese tea, so they are interested on the market of Chinese tea, and then the will invest the company which is produce this type of tea. Then they will import it and sell this tea in UK. So I think the demand in this variable market of UK will increase. Therefore if the capital investment in China is high , it may because the economic growth of UK.
The manufacturing wages
The manufacturing wages increase rapidly, that means the employees who work in these types of company will get more money, therefore Chinese people who work in UK may forgone their job in UK and come back to China for this job. Not only Chinese employees but also the other countries workers who work in UK may also think about go to China to work. So the productivity in UK will goes down which means the output will decrease but employees of domestic will increase. But it also effect the current account because people may but more imports than domestic goods. Which is current account deficit.
Interest rate
If the interest rate in China increase, it lead to the exchange rate increase, the saving goes up , but the consumer expenditure goes down. The exchange rate increase, people can spend cheaper on some import products for example, some UK brand product. So exports will increase because the value of exports lower, as opposite, the value of imports get higher, so imports will decrease., this is current account deficit. Also with the interest rate rising, it s more difficult to borrow money form bank, thus the Chinese investor may cut or cancel their investment in UK. Therefore some company of UK will face to some problem, for example production capacity is too small, cash flow or build a new market etc. So the UK's government will use budget deficit that is spending more to encourage the small business or help some company deal with their problem. Because of this the government will increase the tax to correct the balance of payment.

case study

2009-04-16T00:22:00.000+01:00

Break-even analysis is a technique widely used by production management and management accountants. It is based on categorising production costs between those which are "variable" (costs that change when the production output changes) and those that are "fixed" (costs not directly related to the volume of production).
Firstly, let's concentrate what are the advantages of break even analysis.
It is cheap to carry out and it can show the profits/losses at varying levels of output.
It provides a simple picture of a business - a new business will often have to present a break-even analysis to its bank in order to get a loan.
A break-even analysis can have some disadvantages:
It assumes that everything produced is sold whereas it is often the case that not all output will be sold.
It assumes that all of the output is sold at the same price - often a business will have to lower its price in order to increase its sales.
It always analysis only one production.

From this case study we can see , when Nick Hess opening of a new store nearby selling similar products led to sales falling and break even becoming a distant possibility, and after months of trading, it due to mounting loss. Nick Hess said he had underestimated its impact. Ok, according to above, we need to know what reasons made he underestimate.
Location: customer, if they choose a place near swimming pool I do not think people who want to buy some vegetables after swim And also the money of rent and maybe competitors around their store.
Budget: also rent, transportation,stock etc.
Market research
So from above, we can see Mr Hess did not notice these point before he opened a new store, therefor he get loss.

When an entrepreneur starting a new business, they do not have a complete organisation of their business, for example it is difficult to categorization all of the fixed cost and variable cost. Also break even analysis always analysis only one production, but I think a new business not only have one product. Also not sure about the profit and loss, because you just start a business.

sorry MR CHRIS Not finish yet,,,sleepy.....I will finish it tomorrow.

business idea

2009-04-15T00:20:00.000+01:00

Before you go to hairdressing, will you worry about if your new hair style is worse than now or the hair dress can not satisfy your want? I think you will.
Now, there is a way can deal with this problem (unless you have computer). This is a software which can design and choose the style of hair at the same time you can learn how to make it in step by step, you can use the way to do in the real life. According to your contrast, you can choose the best one, and print out or send this picture to the hair dress, and then they will make your hair like the style that you give them the information about it. I think because of that you and hair dress both will more confidence. So the company who make this software will have a big market. Because we can see it is convenient, easy to use, and save time etc.

Now I want to show you some picture that I use MR Chris's photo to design the new hair style.
which one do you think is best?

oh yeah yeah yeah!!!

2009-04-13T23:20:00.000+01:00

Lemon,,,,,,,lemon...lemon chicken....................
OK, I never eaten lemon chicken before, and I think I will cook it by myself.
Last two days , I was learning math, because I want to make sure that I can understand and also enhance my knowledge of math..
I was learning economic as well. But I am not really understand the types of unemployment. When I go back to school, I will ask for some help....xixixixi.....

Who is Branda Mr Chris?? Is she from Chengdu?

I will study hard next term.... Which means a lot of practice.....
Maybe a few "absent" because I want to save time for study more things by mys

oh yeah yeah!!

2009-04-10T17:15:00.000+01:00

Me and Chee studying together, and we are in the school.

I was doing workbook of economic, and I studied mathmatics.

I think need more practices about Math, because when I was doing pass paper of math which is C1 I felt I forget a lot of main points. I cannot finished it on time.

Mr Chris,Why you said next term will very difficult for me?? I will work hard, but I want to know why as well...hehehehhe````!!!!

oh yeah!!!

2009-04-09T21:32:00.001+01:00

I've done some practices on Tutor2u, and the result is good I think. I will do more practice tomorrow.
When I did the practice, the positive statement and normative statement are difficult for me, I did not know what meant of them. So I've searched it online, and understand it now.
Positive statements statements about fact, describle, explain, and predict something and say nothing about what we should do, it can be tested. Normative statements statements about ought to be (should be) and what a person, organization, nation ought to do (should do), it cannot be tested.
In fact I think to identify a question which is positive statement or normative statement, if this question said .....should be ....... It is normative statement, and if this question talk about some certain thing or it is truth, it is positive statement.

back back back!!!!

2009-04-08T23:01:00.001+01:00

I am back.....start writing blog.
Mr chris I will start to do practice about economic tomorrow, even though I think the books that you gave us are difficult,but in order to improve my knowledge of economic, I will try my best.
Also I will do Math , business practices, and work hard again,
After long time rest,now I am energetic, so face to tomorrow which is very busy, I am confidence, and I will be more confidence..xixixixixixixixixixi:)
Mr chris,,,,,,hehehehehehe!!!!!!!!

Easter course

2009-04-04T00:48:00.000+01:00

In this week, I've learnt a lot of things about economic and business. I think I improve a lot, even though Mr Chris still say my English is poor. Actually, yes,my English is poor, but my knowledge of economic and business are growth. Because I was keeping to go to school,no absent! In fact I was laze before so in order to change my bad habit and pass the exam, I decided to join every lesson which I need to go.
It was very tired when I have had every class that I need to go.Economics lesson finished until 12:30 o clock at night. But if you do not want to contribution,therefore you can not gain anything. So I did not mind tired, I tried to do my best, thus I was keeping went to lessons and listen to teachers. because I wanted to make sure that I could inderstand what did teachers say.
Thank you Mr Chris, you still help me, I am work harder that before, and I am improve a lot. Thanks for your helping.
Thank you Shasimin(are the spelling right?), you make me know how important about case study, and my business improve a lot as well.
Thank you James: you drove a long time to came to Oxford, and thought me, you thought me about your real business experience, you make me know run a business is not a easy thing , but if I like I can do it very well.
Thank you Peter, you help me know business English is not very difficult.
Thank you Tony, even though you are a math teacher but you was tried your best to thought us business English.

I am really pleasure that I was join this easter course, it helps me a lot, and make me feel more confidence.

After this easter course I will be better and I will practise a lot of practice of English, and then I can describe the thing that I know the meaning of Chinese but I can not explain it.

Easter course

2009-03-31T23:04:00.001+01:00

I am care about Easter course, I do not want to absent , and I want to work hard. But I am sorry Mr Chris, I know you want to help us, but I really can not concentrate on what did you said after 9 o clock, so I choose leave which not mean that I don't want to study. I just do not want to cheat you that I am listen to you. So I am sorry but I really can not continue, CAUSE I DO NOT WANT GIVE UP,and if I can keep listen I won't to leave I promise.

And Mr Chris can you teach about Market failure again tomorrow. PLEASE THANKS THANKS THANKS A LOT OF THANKS.....................................

Aggregate demand

2009-03-25T22:02:00.000Z

Aggregate demand is the total demand for a country's good and services at a given price level and in a given time period.the component of aggregate demand are consumer expenditure(c), investment(I), government spending (G) and net exports,which is exports(x) minus imports(m), the formula of AD is AD= C+I+G+(X-M)
How this formula reflect some information about AD.
1.If consumption goes up, it will effect the investment, because more consumer expenditure need more supply. It is therefore investment will increase. Which means AD will goes up. But high consumption will bring inflation. So the government need control it, for example budget surplus which means taxation greater than government spending. Because if rise the taxation leading to price of goods goes up. People will not to buy more. Use monetary policy, the government can increase the interest rate, because the saving of people will goes up,and drop the investment as well.opposite if consumption goes down.
2.If government spending increase, the unemployment decrease, so more and more people have job, leading to the productivity goes up, more and more products had produced and they can satisfy more and more demand of consumer. Thus AD will increase.
3.X-M is the balance of payment , when the X greater than M is balance of trade surplus, it is means the demand of products produce by england increase lead to the AD goes up as well.
4.When the X less than M which means balance of trade deficit, it is reflect the demand of consumer on domestic goods decrease and the demand of consumer on other countries increase.so the AD decrease.
Conclusion :
How to increase AD :
1)Decrease interest rate.
2)More government spending.
3)A rise in exports
4)A rise in real GDP
How to decrease AD
1)a rise in imports.
2)Increase unemployment
3)Increase interest rate
4)Less investment
5)Less government spending

Use computer in business

2009-03-24T20:41:00.000Z

Advantages:
reduce cost for plan the function administration
Save time : do not need waste time to allocate the complicated data,now just use computer to save them, therefore, more convenient.
Increase productivity
More convenient to build a communication with other entrepreneur.
Disadvantage
spend money on training: the people who use computer must know how to use computer.
Easy to make mistake.
If the computer is broken they need spend a lot of money to maintenance.

Japanese management

2009-03-24T20:08:00.001Z

Firstly we need know the function of management:
P Planning
O Organising
C Conmmunication
C Controlling
C Cordination
L Leadership
M Motivation

Japanese management:
The culture of Japanese management so famous in the West is generally limited to Japan's large corporations. These flagships of the Japanese economy provide their workers with excellent salaries and working conditions and secure employment. These companies and their employees are the business elite of Japan. Though not as much for the new generation still a career with such a company is the dream of many young people in Japan, but only a select few attain these jobs. Qualification for employment is limited to the few men and women who graduate from the top thirty colleges and universities in Japan.
What are the characteristics of Japanese management:
Be good at copy and learn
Japanese entrepreneur always copy or learn new skills from other countries.
Reach consensus through compromise.
Every people have their floor in their company. When their boss want to decide something, they can have their own opinion and they must agree with their boss,this decision can be effictive.
encourage in long term.
Because encourage can help their labour feel more confidence, it is therefore they will work hard and can keep the company profitable.
quantity is most important.
5.compete.

痛

2009-03-23T20:39:00.000Z

I can not forget this experience forever, it is hurt me forever!
IT IS ENOUGH THAT I AM ALIVE!
please cherish life

EF video

2009-03-23T20:01:00.000Z

If I am student who never come to EF oxford and deciding to study abroad , I will think EF oxford it is a good choice.
Why I am thinking like that?
Firstly this video tell us all the information as a student want to know which are the environment, entertainment, accommodation,travel , main staff and repute of the school. Also the culture, environment ,when is leisure what they can do etc.
All of those information are clearly and positive.and also the man who talk about this it is clearly, people whom English is not very good can understand it as well I think, because the voice of the man is clearly and the speed is slow. The audience may want to keep to watch because of the nice voice with a beautiful music.
But they just interview a student who talk about London, it is important but i do not think people just interested in that, they want to know how is the course, they need interview some student who talk about what are they learn from EF Oxford,not just travel or play.
At the end, I want to say this advertise is very good, even though something not true, but if it a ad, it must be successful.so I think this is a good video.

TQM improve management and profit

2009-03-23T19:05:00.000Z

Firstly, we should know what is TQM which is total quantity management
is a business management strategy aimed at embedding awareness of quality in all organizational processes. TQM has been widely used in manufacturing, education, call centers, government, and service industries, as well as NASA space and science programs.so it is good for management.
Also the theory of TQM :
1) satisfy demand of consumer, and make them feel good.
2) Add value: use the less cost to achieve maximum value
3) Keep change: foe example, accept new skills or new machineries
It will be help the profit increase , because of above , consumer can receive a good services etc..
What are the benefits of TQM
1) increase the quality of products2)improve the design of products3)increase the production4)encourage the confidence of staff and 5) advance the ASS6) decrease cost7) decrease the deficit8) decrease the accident of resposibility

Budget deficit

2009-03-22T16:38:00.001Z

http://shuimengqiu.blogspot.com/2009/02/budget-dificit-economic.html

national income

2009-03-22T16:33:00.001Z

of measures of national income and output are used in economics to estimate total economic activity in a country or region, including Gross Domestic Product (GDP), Gross National Product (GNP), and Net National Income (NNI).
How to increase national income:
We can use this formula, G+I+C+(X-M)
Because increase national income which also can say increase in AD, according to above, we can see:
1. Increase government spending which can reduce the unemployment and encourage some small business
2. Reduce interest rate , because more and more investment will build cause of lower interest rate that they can borrow money easier.
3. Decrease exchange rate , that's means the price of export cheaper, and more countries would like to buy products from this country and the injection will increase.
4. Increase productivity
The affect of national income increase
1) economic growth.
2) Inflation(demand very high)
Living standard increase

balance of trade deficit

2009-03-22T15:17:00.001Z

Balance of trade deficit
First of all, we should know what is balance of trade, balance of trade is the relationship between imports and exports , and when the exports greater than imports is balance of trade surplus, which is injection exceed leakage, and when exports less than imports is balance of trade deficit which is injection less than leakage.
What may lead to balance of trade deficit ?
1.Exchange rate increase, the value of money goes up , other countries do not want buy products form this country.
2.Demand of domestic products goes down
3.The value of imports goes down
4.The price of domestic products very high
5.The productivity is lower
How we can solve this problem.
1)Increase productivity. For example can use divide the labour or specialization.\
2)Decrease exchange rate.which is decrease interest rate.
3)More government spending
4)Increase tariff
5)Increase the standard of imports.

international trade

2009-03-19T23:25:00.000Z

International trade is exchange of capital, goods, and services across international borders（分界线） or territories(领土，版图）.
If we do not have international trade , we will become more poor. For example we need imports materials , foods, products etc, such as banana, tea,
Silk, gas. Also like wine,Spacecraft, if we do not have material to make , our production will change to inefficiency, or lower efficiency.international trade good for every countries which are join it.
But free trade also bring some drawback to those countries , for example clothes seller afraid of the clothes ,which are imports, are cheaper , the demand of their clothes will decrease. Also when the customer change their mind to buy Japanese car instead of the domestic car , they producer and seller should worry about the demand of their goods.
Risks in international trade
Economic risks
§ Risk of insolvency(无力偿还的） of the buyer,
§ Risk of protracted default （拖欠债务）- the failure of the buyer to pay the amount due within six months after the due date
§ Risk of non-acceptance（拒绝承兑）
§ Surrendering（放弃） economic sovereignty（最高统治权）
§ Risk of exchange rate
§ Susceptibility（易受影响或损害的状态） to changing standards & regulations within other countries

Political risks
§ Risk of cancellation（取消） or non-renewal(不能重建）l of export or import licenses
§ War risks
§ Risk of expropriation（征收） or confiscation（充公） of the importer's company
§ Risk of the imposition（强加） of an import ban after the shipment（从海路、陆路或空运的)一批货物）of the goods
§ Transfer risk - imposition of exchange controls by the importer's country or foreign currency shortages
§ Surrendering political sovereignty
§ Influence of political parties in importer's company
§ Relations with other countries

So some countries not real curry out completely free trade , because they know , there are not only have profit , but also have cost. Thus the government of those countries adopt some way to limited it.
1) tariff , which can limited imports.
2) Quota, limited the quantity of imports
3) manage exchange rate.
4) Imports permit.
5) Refuses , for example drug
Etc
All of those way are help limited trade.

Balance of payment

2009-03-18T23:06:00.001Z

Balance of payment measures the payments that flow between any individual country and all other countries. It is used to summarize all international economic transactions for that country during a specific time period, usually a year
Balance of payment surplus :money come in more than leave out
Balance of payment deficit:money come in less than money leave out.
Current account:
the current account is one of the two primary components of the balance of payments,another one is capital account. But now I would like talk about current account.
The current account is the difference between a nation's exports of goods and services and its imports of goods and services
Current account surplus:Positive net sales abroad generally contributes to a current account surplus which mean the exports greater than imports, because they sell more, a current account surplus is sell positive net exports.
Current account deficit: negative net sales abroad generally contributes to a current account deficit.which means the exports less than imports , because a current account deficit is sell negative net exports.
How to reduce the current account deficit?
Firstly we need know what current account deficit is, as above we know that current account deficit means exports less than imports, which means injection less than leakage. So the government need increase the exports.
1. Reduce the exchange rate (interest rate decrease)
2. Decrease duties
3. Increase government spending
4. Encourage domestic suppliers
Decrease imports:
1. Quota
2. import restrictions
3. Encourage people buy domestic products
4. Reduce domestic saving
Decrease aggregate demand( monetary and fiscal policy)

Tax

2009-03-17T21:52:00.000Z

Tax is to impose a financial charge or other levy upon an individual or legal entity by a state or the functional equivalent of a state.
There are two types of tax:
Direct tax : one that taxes the income of people and firms and that cannot be avoid
Indirect tax: a tax levied on goods and services.
Increase/decrease tax:
1.The price of products will increase, which means the cost of produce will rise, so producer will supply less, or increase the price of products, and then the demand of this product will goes down , unless the demand is inelastic , or it is snob good, the demand maybe not change or goes up.
2.lower inflation
3.increase unemployment
4.government budget deficit : government spending greater than tax, which can decrease the unemployment rate.maybe living standard increase , because people can get more subsidies from the government. Also maybe decrease the recession, because more people get job , the productivity will increase, the real GDP will goes up.
5.government budget surplus: which means government spending less than tax,this can help decrease the inflation , because if tax increase, people need afford more money to satisfy their wants,it is therefore people maybe to have opportunity cost or trade off. Etc, so the AD will goes down. Thus high taxation helps decrease inflation.

exchange rate

2009-03-16T20:55:00.000Z

Exchange rate means the price of one currency in terms of another currency or currencies.
How does a change in the exchange rate influence the economy:
From tutor2u , we can see change in exchange rate effect the demand for exports and imports; real GDP growth, inflation and unemployment .
Exports and imports:if the exchange rate fall in a country,the price of exports also decrease but the value of exports will increase. Opposite, the price of imports will goes up and the value of it will decrease.a rise in the exchange rate, is likely to result in a fall in net exports.
Real GDP growth:(not really understand this, if you know , can you help me ,,thx:))
Inflation: if exchange rate goes up. That means the interest rate goes up as well, so people would like save more money in bank which means the AD decrease, it helps inflation get lower. And also if the exchange rate goes down, which means interest rate decrease, leading to more investment and low save from people, the AD will increase, with this situation, inflation will rise.
Unemployment: as well as inflation, change in exchange rate effect the rate of unemployment , because if exchange rate goes up, may leading to economic growth, and consumption will raise , so the AD will increase , and producer need recruit more labour to improve productivity to satisfy the needs of consumer. So it is helps decrease the unemployment. Exchange rate goes down is the opposite.
Advantages of exchange rate goes up:
1. lower imports price
2. Lower cost for producer
3. Lower inflation
Disadvantages of exchange rate goes up:
1. Increase the trade deficit: if imports goes up , the demand of it will get rise, and for domestic goods , people may prefer imports goods, it because the price of imports good may cheaper than domestic goods. And it may leading to balance f payment deficit. The government need control this.
2. Slower economic growth
3. Low elasticity of demand:In the short term, the effects of exchange rates on export and import demand tends to be low because of low price elasticity of demand
4.Cutting their export prices when selling in overseas markets and therefore accepting lower profit margins to maintain competitiveness and market share

Interest rate

2009-03-15T12:10:00.001Z

Interest rate
An interest rate is the price a borrower pays for the use of money they do not own, for instance a small company might borrow from a bank to kick start their business, and the return a lender receives for deferring the use of funds, by lending it to the borrower. Interest rates are normally expressed as a percentage rate over the period of one year.
When the economic face to inflation, the government may use monetary policy which may increase the interest rate, because if the government want to deal with inflation, they must be decrease the interest rate. If the interest rate goes up , people want to save money, and expensive to borrow, the investment will goes down. Therefore, lower demand and investment can help inflation.
When the economic face to recession, the government may decrease the interest rate. Because interest rate goes down, people do not want to saving , they prefer spending on some goods. Also investment will goes up. Because easy to borrow.
Why we need interest rate, I think because it can help the government deal with some problem , also it is help bank supportability.
Cause of interest rate:
1 Deferred consumption
2 Inflationary expectations
3 Alternative investments.
4 Risks of investment.
5 Taxes
6 Liquidity preference

Economic growth

2009-03-15T11:46:00.000Z

Economic growth
Economic growth is best defined as a long-term expansion of the productive potential of the economy.
From tutor2u , I've learn advantage and disadvantage of economic growth:
Advantages of economic growth:
1. Higher Living Standards: e.g if economic growth that means the real GDP per head goes up. So people have more money , they can afford more things, the living standard will increase because of that.
2. Employment effects:Growth stimulates higher employment. Because the demand will increase , the producer need more labour to increase the productivity, employment therefore goes up.
3. Fiscal Dividend:economic growth is good for government finance.boosting tax revenues and providing the government with extra money to finance spending projects
4. The Investment Accelerator Effect:because economic growth leading to rising demand , it encourage people investment on capital machinery, it is help the AS increase.
5. Growth and Business Confidence:because economic growth good for both of them , for example when some good news heard by labour for their work, they think more confidence.and leading to the productivity goes up.
Disadvantages of economic growth
1.Inflation risk:if economic growth very quick, it may lead to inflation, because with economic growth, the demand increase too. The economic therefore face to inflation risks.
2.Environmental concerns:because economic growth lead to higher live standard, therefore some negative externality will appear. For example , live standard goes up , the demand of car will increase , so more and more pollution had create .

inflation

2009-03-14T21:57:00.001Z

inflation is a rise in the general level of prices of goods and services in an economy over a period
of time. There are two types of inflation

Demand pull inflation:
when aggregate demand in an economy out paces aggregate supply.
some causes of demand pull inflation
l Reduce interest rate
l Decrease taxation(increase employment)
l Government spending increase(lower unemployment)

Cost push inflation
caused by substantial increases in the cost of
important goods or services where no suitable
alternative is available
Short run: wage of labour, for example, with
trade union power increase, the wage may goes
up, because of the wage,
the company need spend more money on labour,
thereforethe cost will increase as well. If the company
want to get profit, they need increase the price, and
price level goes up too.This is a example for cost push
inflation.
Longrun :
Unemployment
Demand pull inflation:
when aggrgate demand in an economy out paces
aggregate supply.
some causes of demand pull inflation
l Reduce interest rate
l Decrease taxation(increase employment)
l Government spending increase(lower unemployment)

Unemployment

2009-03-12T18:10:00.000Z

Unemployment occurs when a person is available to work and currently seeking work, but the person is without work.
What are the causes of unemployment?
Insufficient demand, because if the demand of goods is lower, the industry do not want recruit more people, also with the demand decrease , the supply will go down, and they do not need more labour because they may do not have enough money to pay the wages to their labour. For example the recession and reduce the inflation.
If a company need new skills for their new technologies, they may want to fire some workers who do not have the new skills.
The products of the company is not attractive to people, and also they do not have finance to produce a new products, they company face to bankrupt. People who work in this company will lose their job.
At a period time , the demand of a products of a company decrease. The company will redundancy .
Etc
From above we can see there are some types of unemployment:
Frictional unemployment
It means between two jobs, like change a job to another job.
Classical unemployment
when real wages for a job are set above the market-clearing level.
Structural unemployment
a mismatch between jobs offered by employers and potential workers..
Cyclical unemployment
when there is not enough aggregate demand in the economy.

supply side policy

2009-03-11T21:24:00.000Z

Supply side policy is the is the branch of polcies that considers how to improve the Productive
capacity of the economy.
Lower Inflation:because it can make the price level go down , which is the AS shift left,so it can help
the cost push inflation

Lower Unemployment: if supply increase they need more labour.therefore , the company may
want to recruit more people.

Improved economic growth:AS increase , AD increase , leading to economic growth.Improved
trade and Balance of Payments. By making firms more competitive they will be able to export
more. This is important in light of the increased competition from S.E. Asia.

Reducing Taxes.It is argued that lower taxes (income and corporation) increase incentives for
people to work harder, leading to more output.However this is not necessarily true,

lower taxes do not always increase work incentives ( A2 e.g. if income effect outweighs substitution effect)

Increased education and training
Better education can improve labour productivity and increase
AS.Often there is under provision of education in a free market, leading to market failure.
Therefore the govt may need to subsidise suitable schemes.However govt intervention will cost
money, requiring higher taxes, It will take time to have effect and govt may subsidise the wrong
types of training

Reducing the power of Trades UnionsThis should
a) increase efficiency of firms
b) reduce unemployment

Reducing State Welfare Benefits
This may encourage unemployed to take jobs.
Providing better informationmay also help reduce frictional unemployment,and they may do
not want to change their job.
Deregulate financial markets to allow more competition and lower borrowing costs for
consumers and firms.

Monetary policy

2009-03-11T21:00:00.000Z

Monetary policy is the process by which the government, central bank, or monetary authority

of a country controls (i) the supply of money, (ii) availability of money, and (iii) cost of money

or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy.[1] Monetary theory provides insight into how to craft optimal monetary policy.

Nowadays , the big problem of the world is recession. Because of that, the rate of unemployment increase fast, what should the government do to help recession goes down?
According to the monetary policy, they can change the interest rate. In order to deal with
recession, the government need increase the AD, so they need decrease the interest rate ,
then saving will go down, but it is easy to borrow money, thus , more and more investment
will build. So if demand goes up, investment increase, the company want to recruit people
which is increase their labour force,therefore the unemployment rate will decrease, more
and more people ,who without job or seek job ,can have a job.

Also monetary policy can help decrease inflation. Inflation means the is a rise in the general

level of prices of goods and services in an economy over a period of time. So if the government

want to make inflation rate goes down, the need deal with the price level first. But do not

should decrease the price level directly, the government will increase the interest rate first,

if the interest rate goes up , people will saving more, and the consumption will decrease, so

the AD will decrease, leading to the price level decline. Thus inflation will decrease.
But monetary policy can not deal with unemployment and inflation at the same time,

they are ambivalent, so the government need trade-off .

fiscal policy

2009-03-10T21:05:00.000Z

In economics, fiscal policy is the use of government spending and revenue collection to influence
the economy.
Fiscal policy have two functions
1.Deal with deflation and inflation.
2.make economic fluctuations are stable
How we can use fiscal policy to deal with those problem?
Deflation is persistent decrease in the general price level of goods and services,which means the
AD is lower, so in order to increase AD, they government will decrease the tax, and increase the
government spending to make AD goes up lead to deal with the deflation.
Inflation is a rise in the general level of prices of goods and services in an economy over a period of
time which means he AD is high,in order to solve inflation, the government will decrease the tax
and decrease the government spending lead to make AD goes down, then inflation will decrease.
Finally. Fiscal policy can make economic is more stable

2009-03-09T22:49:00.000Z

This is me and Siyi's host family,yes,,it is a same host family...
We live in a small room , but we are happy here, because our host family is really nice.
Look, we are studying hard.I am doing ECONOMIC HOMEWORK,Siyi is doing ECONOMIC HOMWORK
This 'new' curtain that I made it by myself, This is a needlework, I spend 2 hours to finished it.my host mother said , it is beautiful!!!!!!;)
Me and Siyi are good friends, we live together, study together, eating together, she helps me a lot, I help her a lot as well,hehe, but we are friends , we would like this.
A small double room, a small world which belong to me and Siyi. Xixixixixixixiix..........:0

HELP!!!!

2009-03-09T22:26:00.000Z

MR Chris , I need your help...I want to study,,and work hard,,,, so please help me about my business and economic, I will keep studing hard and try to do my best. Mr Chris can you help me? I want to be better...and become a FANTASTIC student....

My favorite

2009-03-08T18:46:00.000Z

pay attention to the end of this song

Leehom sings some of his favorite English songs, he's a big fan of classic rock. You Raise Me Up - WestLife Silent Night Piano Man - Billy Joel Imagine - John Lennon Last Christmas I Just Calle...

I will speak english as fluently as him,,,,leehom leehom!!!!!!!!

LEEHOM ,LOVE YOU FOREVER!!!!!

miracle

2009-03-08T18:29:00.000Z

Fantastic! Could you believe that all the performers can neither hear nor speak? It was performed on the Chinese New Year's Eve(Spring Festival) in 2005

Pre- Fab Designer Tree houses

2009-03-08T18:04:00.001Z

http://www.danielswoodland.com/theming/themed_environments/index.php
Advantages:
Novelty
Attractive to children
Quickly to build
Variations on a Theme :different types of theme

Disadvantages:
High price
It need a spacial location
Because it made by wood, it is easy to break
Not easy to protect , for example bad weather can effect it .
Not easy to find material, it must need high quality wood.
Heavy
fire

videos

2009-03-06T13:31:00.000Z

If you do not laugh , I will give you 10 pounds.....

crazy dance,but so funny

this part called "Janpanese learnning english"

What should I do during Easter holiday?

2009-03-05T22:58:00.000Z

What should I do in Easter holiday?
My plan is :
①　Read all of the economic text book
②　Read business book
③　Do some exercise of Math
④　Read ICT book
⑤　DAILY BLOG
⑥　Try to read news on BBC
⑦　 Eat Chinese food
⑧　 Play with my friends
⑨　Listen to music
⑩　Maybe cook;)
11　Maybe go to my aunt's house
12　Extra
I will try my best ....

What is the cause of economic growth

2009-03-03T23:21:00.000Z

What's the cause of Economic growth?there are two factors.
1. The quantity of factor of production increase. Factor of production including the increase in
labour or increase in the average work time of each worker , the material goes up and raise the
capital.The productivity of factor of production goes up.
2. The productivity of factor of production it's increase including the skill of labour goes up,
because of effective management the organization goes up and productivity of equipment of the
capital get strong. Especially the important thing is the skills improve

why2

2009-03-02T19:48:00.000Z

Why fix the road in oxford is inefficiency?
I asked this question because of I noticed the road which is London road , it started to fix from last
year maybe June, but still haven's finish.
I think this because of some reason which are :
1. Because of the weather of Oxford ischangeable,workers can not do something when the weather
is rainy. That's means the weather effect the efficiency.
2. Because of the weather too, they must have some special resources to fix the road, like some
stone can avoid the rainy. But it need a long time to make sure the quantity of the road.
3. The wage for the workers are high, because of there are narrow range of people can do this job,
it need aprofessional skills , there aren't a lot of people can do that, so the government may spend
more and recruit people ,but just a few. Because they do not have a lot of people to do that, how
can improve efficiency on it?
4. Also because it is a main road in Oxford, so the traffic is busy, it must effect the efficiency.

why?

2009-03-01T19:50:00.001Z

When I ate McDonald's in city centre yesterday, I saw a starbucks across form McDonald's.
Then I was thinking about why we always say "meet in front of McDonald's"and not say "
meet in front of starbucks"
I think because of:

The brand of McDonald's invent earlier than starbucks, it more famous than starbucks

Even though both of them are international brand, but starbucks is a luxury goods I think, sometimes people can not afford,and for Mc it is a normal good , people can afford it easy.

The quantity of Mc more than Starbucks, you can see MC everywhere , but starbuck not.

The advertisement for MC it is more popular than Starbucks.

And the design of the sign,I think the color of MC more attractive than Starbucks.

All of the reasons that's why I think people would like to say meet in front of MC.

Why start a small business

2009-02-24T20:27:00.000Z

When people may want to start a small business:
The official definition of a 'limited small company' is to meet two of the following:
· annual turnover must be ?,600,000 or less;
· the balance sheet total must be ?,800,000 or less;
· the average number of employees must be 50 or fewer.
l When you are not sure if your market is profitable or not, you may prefer start a small business

to reduce the risks.
l When you do not have enough money, but you want start a business, you can choose start a

small business, because you do not need prepare a lot money to start your business.

l A 'small business' can be a limited small company or a non-limited company that has a sole-trader or partner as the proprietor/s. With sole traders and partners the total profits and wages

earned by the business are taxed on a personal basis if there are two sole traders in a business who have 50% ownership each, they will each have to pay 50% of the tax burden.

if a company wants to produce a new product, but their main marketing can not add this new

product , or the new product have marketing by itself, this company may start a new business,

and because they do not sure it will successful or not , they will start a small business to research

first.

Evaluate a question about economic

2009-02-23T21:31:00.000Z

Question: All other things being equal, lower inflation in an economy is most likely to be achieved if there is an increase in
A: productivity.
B:exports.
C:consumption.
D:welfare benefits.
The answer is A
Because we know that inflation is an increase in price level so it means that demand is high. In this
question we know it is"lower inflation"which means the price level is lower and aggregate demand
too, but if exports are very high this means that injection is high, and the income of the
government will increase,as well as the income per capita, so they, in turn, will spend more money to buy products
,and the aggregate demand will increase,leading to a rise in inflation. So this is not correct.

The same reasons of consumption and welfare benefits, both of them are increasing the aggregate demand and thus an increase in inflation. So I choose answer A , which is productivity, because in order to decrease inflation we need to decrease aggregate demand , therefore,if produce more goods to
satisfy demand , the aggregate demand will go down,that is why I choose the first answer.

unemployment

2009-02-22T20:08:00.000Z

Unemployment is viewed the number one problem in China now and the government has launched a major attack on the problem. The steps the government has taken to deal with unemployment are' as follows. Firstly, unemployment fund has been established to help the unemployed workers to support themselves. Secondly, the unemployed receive vocational training, which is expected to pay off in the short term and give the unemployed an advantage in the job market. It is due to the lack of professional skills that these workers have lagged behind in the society. These training programs aim to equip the workers with some special skills, such as typing, sewing, and cooking. Finally, psychological advice is also available, since unemployment, apart from exerting financial pressures, brings enormous psychological discomfort. With the advice, the unemployed will learn how to adapt to the fierce competition in the technological age. With the joint efforts of the government and the society, we are optimistic that we can win the current war on unemployment.

news

2009-02-22T18:59:00.001Z

http://news.bbc.co.uk/1/hi/business/7904628.stm
This news talk about quantitative easing to encourage bank lend money to people , because it is
effectively allows the central bank to write cheques to banks in exchange for assets, and it can help
economic recovery. The interest rates lower than before is seen to be diminishing.As the world
economy cools, and access to credit remains expensive or hard to obtain,
UK policy makers have been looking of different ways to encourage the banks to lend again.

No title

2009-02-22T01:49:00.000Z

I never think about I will study in UK before last year. But in 2008 I make a significant decision,
which can change my life , I want study in Canada. Nobody in my family can understand, they
thought I was crazy, but I just said, I do not like study in China, i think it is waste my time, I know
China need this education policy, but I do not think I can study here and become successful. After
my explain, my father agree with me, my mother also , then I give up my education in China when
I was studying senior 1 . When I leave my school, it means I lost a lot, but I can look for what I want.
Not everything is smoothly., I meet some trouble with my visa to go to Canada, I really like Canada
, I do not know why, when I heard this I wanted cry, because that means I can not go to Canada.
The first agency is bad, they hope me change a place which is Australia, but I did not want, I just
wanted to go Canada, that is my only place I wanted to go.After 2 weeks, my mother said I need
make a new plan , because I did not have enough to wait, so my father gave me a advice which is
go to UK to study, because he has his classmate there. Even though I really did not want to go , but
I know I can not waste the time , this is the reason why I want go to Canada to study.
7/7/2008 I come to UK,this is my first time to go abroad, everything is new for me, but I want to face all of the
challenges.
I never think about I will have Spanish roommate.
I never think about I will live in a host family who from England.
I never think about I will make friends with the people who from other countries
.........Everything is new........
8/29/2008/ A-level start...
At the beginning, I thought I was OK, I can understand what teacher said...
But after one month, everything get more difficult, I started can not understand the lessons...
More and more questions for me become difficult, I tried to understand them, but it is like
impossible. After that, I know my most important problem is my English,,,it is so poor until
now,,......

Now,, I understand, everything successful or not depends on yourself, I come to here in older to my dream,if i am lazy , the result is "FAIL" but if I work hard, I will become a successful person.
Thanks for the people who ever help me and try to help me , because of you, I know what should I
do.Thank you very much.....
At the end I want to say your dream will be true or not , you are the only person who can decide it.

encourage

2009-02-21T18:23:00.000Z

For people , encourage it is very important, because it can effect a person is successful or fail.
Because there are two types of encourage , one of it is positive which can make a people become
successful.For example , in a
company the boss need make some appropriate encourage to the labour, it can improve the
efficiency which means help the labour work hard, and people work hard, the efficiency go up ,
so the profit will increase, the company close to become successful if they keep work hard.
One of the encourage is negative , which can make people become fail. For example ,
when some teenager do bad things , they may do not know that is so bad, because they
can not compare , at that time , if their parents say they did that bad things very well, the
teenagers will keep do bad things , because when they did that, their parents said it was good.
And then the teenagers may be do some things very bad lead to break the law,,...
At the end I want to say ,,,,Mr ### ,,some times ,,,you can try to encourage somebody ,,
and maybe she will become better...,,,,,,;)