Economics of Energy: Shale Oil

Economics of Energy: Shale Oil Economics of Energy As every nation endures the global recession, countries invest on various types of energy sources that offer the maximum benefits. There are many variations on energy that can be used such as solar energy, nuclear energy, wind-generated energy and shale oil reserves. Each type of energy has different economic benefits. At present times, shale oil reserves are to watch out for. Shale oil reserves are usually undeveloped given that the process of extracting its oil is a difficult process. However, the latest technology unfolds the overwhelming potential of shale oil exploration. The accessibility of shale oil resources across the globe and the effect of increased shale oil production have influence that extends further than the rest of competitors in energy industry. In contrast, other sources of energy offer economic benefits as well but only differ with costs incurred. Among all energy sources, nuclear energy helps to reduce air pollution, balance the Earths weather, avoid acid rain, and depletion of ozone layer. Nuclear power plants are environment-friendly source of energy. There are many economic benefits of using nuclear power plants. Nuclear power plants are a good source of income while it incurs low costs on operation. In the United States, it is their second largest source of power. Aside from stability in future price, it also avoids the import on fuel. Although the economic benefits of nuclear power are great, the hype on shale oil exploration overshadows the nuclear industry. As many nuclear power plants are offline, most of them would find it easier to build new turbines for gas exploration than repair nuclear reactors. According to the Climate News Network in London, most of the nuclear reactors in the United States and Canada are shutting down since shale gas produces cheaper power (Brown, 2013, para.1). Moreover, the investment costs required for nuclear power plant is higher compared to shale oil exploration. Hence, the economic benefits of shale gas are better than nuclear power. Another source of energy is the solar power. This type of energy captures the photovoltaic cells that transform sunlight into electrical energy. Its edge among other sources of energy is that sunlight is free; hence, its energy is infinitely renewable. In the future, the cost of solar power is expected to decline below market price. To compare solar energy and shale gas, the latter has many variables to consider on its relevant costs such as land costs, drilling costs, corporate overhead and others. Hence, solar energy is more economic than shale gas when it comes to expenditures. Lastly, wind-generated energy is also an alternative source of electricity. Wind turbines convert the wind that passes through the blades into electricity. One of the challenges on wind energy industry is its disadvantage on costs. Its technology needs a hi gher amount of initial outlay than fossil fuels. Hence, shale gas is more cost-competitive compared to wind-generated electricity. Economic Costs and Profits of Shale Oil Exploration Computation for economic costs basically includes explicit costs, real costs and opportunity costs (EconomicConcepts.com, 2012, n.p.). On the other hand, economic profit is the difference between revenue and costs incurred. In this section, the economic costs are cash outlays, opportunity costs, transportation expense to China and Beijing Costs, Insurance and Freight (CFI). Below is a table of the writer’s own model of economic costs and profits of shale exploration (Figure 1). The figures are rounded off to the nearest whole number. Economic Costs and Profit for Shale Oil Exploration Total Revenue $ 12,000,000,000.00 Explicit Costs Pipeline costs Materials $ 8,000,000.00 Miscellaneous Expenses $ 1,000,000.00 $ 9,000,000.00 Land (934400 acres x $ 5000 per acre) $ 4,600,000,000.00 Well Cost (50 wells x $5,000,000 rate per well) $ 250,000,000.00 Drilling Costs $ 14,000,000.00 Transportations Costs (Cost Insurance Freight to Beijing, China) (6000 trucks x $8000 rate per truck) $ 48,000,000.00 $ 4,921,000,000.00 Total Explicit Costs Real Costs Labor $ 11,500,000.00 Total Real Cost $ 11,500,000.00 Opportunity Costs Opportunity Costs $ 50,000,000.00 Total Opportunity Costs $ 50,000,000.00 Total Economic Costs $ 4,982,500,000.00 Total Economic Profit $ 7,017,500,000.00 Figure 1. Sample Model of Total Economic Costs and Profit for Shale Oil Exploration In Figure 1, the figures indicated are merely estimates through extensive research. In the explicit costs, the costs incurred are for pipeline, land, well, drilling and transportations. These are costs that are directly attributed to the shale gas exploration. The estimates used for rate per acre, well, and truck are average computation for each account. Secondly, real cost includes all the labor costs incurred to extract oil from the shale. Lastly, the opportunity cost pertains to the amount which could have been earned using other alternatives such as nuclear power plant and so on. In the illustration, total revenue exceeds the total costs incurred which results to an economic profit of $7 Billion. Hence, the model shows a cash-generating shale oil exploration. The next illustration (Figure 2) shows the extended model of Figure 1. Expanded Computation for Economic Cost and Profit of Shale Oil Exploration Total Revenue $ 12,000,000,000.00 Total Economic Costs $ 4,982,500,000.00 Other Costs Decommission Cost Waste Disposal costs $ 384,500,000.00 Labor $ 568,050,000.00 Used-fuel Storage costs $ 211,230,000.00 $ 1,163,780,000.00 Operation or Fracking Expense $ 1,230,500,000.00 Construction Expense $ 805,080,000.00 Total Economic Cost $ 8,181,860,000.00 Total Economic Profit $ 3,818,140,000.00 Figure 2. Expanded Computation for Economic Cost and Profit of Shale Oil Exploration In Figure 2, the amounts from Figure 1 are retained and only the other costs account is added as well as operation or fracking cost and construction expense. The marginal cost is computed by dividing the change in total cost by change in total quantity of shale oil (AmosWEB, 2014, para.4). Hence, $ 8,181,860,000.00 $ 4,982,500,000.00 is $3199360000. Change in total quantity pertains to the change in output of shale oil extraction. For instance, a company can extract 100,000 tons of shale oil in a year and doubles for the succeeding years. Below is the computation for marginal cost per year. Change in Costs Change in Quantity Marginal Cost 1st year 3199360000 100,000 31993 2nd year 3199360000 200,000 15996 3rd year 3199360000 400,000 7998 4th year 3199360000 800,000 3999 5th year 3199360000 1,600,000 1999 Figure 3. Computation for Marginal Cost Figure 3 is a chart on computing for marginal cost. The numerator is the change in costs divided by the denominator which is the change in tons of shale oil. Energy Forecast Energy Forecast on UAE from 2014 to 2020 Year Dollar Price per Oil Barrel Year Dollar Price per Oil Barrel 2003 26.74 2014 120.76 2004 33.46 2015 128.86 2005 49.49 2016 136.97 2006 61.43 2017 145.07 2007 68.37 2018 153.17 2008 93.78 2019 161.28 2009 61.75 2020 169.38 2010 78.06 2011 106.03 2012 108.9 2013 105.43 Figure 4. Energy Forecast on UAE from 2014 to 2020 In Figure 4, the amounts from the year 2003 up to 2013 are data released by World Bank Commodity Price Data (Knoema, 2013). Following the past trends on Dubai’s oil prices, the next 6 six years are forecasts through the Microsoft Excel’s trend function. The illustration shows a forecast of the increasing oil price in the next 6 years. UAE’s oil price is to increase by $7-$9. Comparative Energy Forecast on UAE, UK and US UAE UK United States Year Dollar Price per Oil Barrel 2003 26.74 28.85 31.11 2004 33.46 38.3 41.44 2005 49.49 54.43 56.44 2006 61.43 65.39 66.04 2007 68.37 72.7 72.28 2008 93.78 97.64 99.56 2009 61.75 61.86 61.65 2010 78.06 79.64 79.43 2011 106.03 110.94 95.05 2012 108.9 111.97 94.16 2013 105.43 108.86 97.94 2014 120.76 123.61 109.21 2015 128.86 131.63 115.36 2016 136.97 139.65 121.52 2017 145.07 147.66 127.67 2018 153.17 155.68 133.83 2019 161.28 163.70 139.98 2020 169.38 171.72 146.14 Figure 5. Comparative Energy Forecast on UAE, UK and US Figure 6.Bar Graph of Energy Forecast on UAE, UK and US Figure 5 illustrates the past and future forecasts on the oil prices of UAE, UK and the United States. Using the past trends on oil prices of these countries, a forecast for the next 6 years is made. The same method of computation has been made similar to Figure 5. Its summary on Figure 6, UK has the highest amount of oil price in the next 6 years while UAE falls second. Although United States has usually the highest price of oil in the last 10 years, UK started to lead starting 2012 until now. Hence, both United States and UAE has to improve more in terms of their energy economics to surpass UK’s performance in energy industry. References Brown, P. (2013, February 13).Shale gas kills nuclear power | Climate News Network. Retrieved from http://www.climatenewsnetwork.net/2013/02/shale-gas-kills-nuclear-power/> EconomicConcepts.com (2012).Concept of Economic Costs Explict Cost Implict Cost- Real Cost Oppotunity Cost Definition and Example Economicsconcepts.com. RetrievedJanuary24, 2014, from http://economicsconcepts.com/concepts_of_economic_costs.htm> Knoema (2013, October).Crude Oil Prices Forecast: Long Term to 2025 | Data and Charts knoema.com. RetrievedJanuary25, 2014, from http://knoema.com/yxptpab/crude-oil-prices-forecast-long-term-to-2025-data-and-charts> Marginal Cost, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2014. Retrieved January 24, 2014>. Theory of mind: Autism Theory of mind: Autism The term theory of mind in cognitive psychology allows individuals to describe and understanding of other individuals metal state about their beliefs or thoughts no individual can be certain what another individual is thinking but can have a good understand in what they may believe what they are thinking or about their thoughts Baron-Cohen (1997) theory of mind is exclusive to humans and allows humans to have a better understanding about the social world around and allows individuals to interact with other individuals in appropriate way Baron-Cohen (2003) Autism is a developmental disorder which occurs in the first 2 years of the Childs life and can affect approximately four in every ten thousand children (Baron-Cohen, Leslie Frith, 1985), the disorder is more four times more likely for a boy to have the disorder than a girl (Gilberg and Coleman, 1992; Rapin, 1997). An individual who has the disorder may find it hard to interact with another individuals and find it hard to understand what they are saying or understand the emotion of behaviour from another individual that also cannot understand their inner self and the other individuals thoughts and believes. Early signs of autism in a child cannot keep eye-to eye contact with another individual for a long period of time. (Swettenham et al., 1998) Also they cannot spontaneously play with a toy because it may be the fact their disorder cannot let them understand what the toy does. A study took place where individuals where ask to sort out pictures giving to the by category, children wi th the artistic disorder sorted the pictures out by objects example hat scarf (weeks and Hobson, 1987) this shows that not all social communication is impaired but they have little understanding of what is being asked of them. The Reading the Mind in the Eyes Task(Baron-Cohen et al., 1997). Baron-Cohen et al. (1997, 2001a, 2001b) showed some individuals pictures of peoples eyes and where giving four different type of words describing emotion this study was allocated to individuals with autism and also individuals without the disorder but show some signs of the autistic disorder. Baron-Cohen et al. (1997) believes that is a pure test of theory of mind and believes that the results from this study can be an in sight to see if an individual has got the autistic disorder. Children without the disorder start to use the terms think and want this shows they have some understanding of their inner self Most autistics children are delayed in learning a langue which can lead them to make new words up which is called neologising this make it harder for them understand communication and participate in social chat with other individuals Rutter (1987). An autistic individual finds it hard to keep up with the subject of conversation and also shows in ability to use feedback which (Bailey et al., 1996). Children at the age 2 Â ½ can to understand pretend play and the thoughts of other people when as children with autism have mind blindness this is an inability for them to understand social interactions which the individual finds it hard to develop a loving relationship with another individual. The disorder makes the individual find it hard to understand how some else is feeling and its difficult for the autistic individual to interact with another individual with out warning and may feel cold or distant towards other individuals. (Karmiloff-Smith, 1988, 1992) believes that all children explore the environment around them and automatically think of hypothesis and testing them this allows them. The social problems which under go in everyday life which autistic individuals have to face in everyday life, there has been studies which have been created to see if the problems they occur are related to the theory of mind. The Sally- Ann test false belief task was created to see if the individual on going the task had theory of mind skills or not. A child was introduced to two dolls called sally and Ann and where allocated with their own box with a marble hidden inside of it. The child was then told that sally has to go for a minute removing her from the scene and leaving her box behind this. The child is then told Ann is going to play a trick on sally and removes the marble from sallys box. Sally is then returned and the child is then asked where sally should look for the marble. A child with theory of mind will remember that sally doesnt know where her marble is and unaware that it is missing and will look it sallys box by using worlds for example he thinks however a child lacki ng theory of mind skills will only see it from her point of view and would look in Anns box Baron-Cohen, Leslie, and Frith (1985) Many children passed this false belief test which have the autism disorder. Nearly 80 percent of artistic children failed this task which shows that most of the children taking part have not got the inner ability to understand other peoples thought and emotions. Baron- Cohen et als (1992 brought out a checklist for autism to see if any children have the autistic disorder to allow parents or guardians to find out in case of the risk of developing the disorder. The most common signs of autism is mental retardation is most common with 75% of all cases (Rutter, 1979; Rapin, 1997) there is no strong evidence to prove autism is inherited disorder (Rutter, 1994) Autism is clearly understood as a developmental disorder which makes it difficult for that individual to express him/her self and find it hard to understand any other individuals feelings or understand that they can feel emotions and think thoughts. There is not enough evidence to suggest that theory of mind can allow us to understand about autism to its full potential and that theory of mind describes the disorder to where it is completely understood.

The Physics of Roller Coasters Essay -- Physics Science Research

The Physics of Roller Coasters The roller coaster has its beginnings in Russia where during the 1600's. People crafted sleds out of wood and built hills made of ice blocks. The hills had sand at the bottom to help slow down the sleds so they would not crash when they reached the bottom of the hill.1 Over time, the roller coaster has become more complex. They now are taller, faster and are designed out of different materials like wood and steel. Although roller coasters are fun and exciting, the questions, what allows them to twist and turn, go up and down hills at a fairly good speed? Why do they not fall off of the track when it goes through a loop? The answer to these questions and others about roller coasters lies in the application of basic physics principals. These principals include potential and kinetic energy, gravity, velocity, projectile motion, centripetal acceleration, friction, and inertia. The basic design of a roller coaster consists of a train like coaster that starts out at the bottom of the tallest hill of the ride. The train is then pulled up the hill and is pulled to the top of the hill. As the train is pulled from the bottom of the hill to the top of it, the trains' potential energy is converted onto kinetic energy. Potential energy is defined as "the energy of an object at a height h above some zero level as equal to the work done by the force of gravity"2 (139). Kinetic energy is the energy of "an object . . . because of its motion"2 (132). As the distance between the ground and the train of cars increases, the potential energy of the train increases as well. This increase in potential energy increases the amount of kinetic energy that can be released in the system therefore causes the system to be ... ... depleted causing the train to come to a stop. So, as you can see, roller coasters are an excellent example of the use of forces energy in a system and how they interact with one another to cause motion and to stop motion of objects. If these forces were not present, then we would have a very difficult time doing anything because there would be no way to start motion and if there was motion it would be very difficult to stop it. Works Cited 1. Annenberg/CPB. â€Å"Roller Coaster History† Amusement Park Physics: What are the forces behind the fun?. Learner.org http://www.learner.org/exhibits/parkphysics/coaster2.html. . April 29, 2003. 2. Kirkpatrick, Larry D. and Gerald F. Wheeler. Physics: A World View. ed. 4. Harcourt College Publishers. Fort Worth. 2001. 3. Britannica Online. â€Å"Roller Coaster Physics. http://search.eb.com/coasters/physics/. May 1, 2003. The Physics of Roller Coasters Essay -- Physics Science Research The Physics of Roller Coasters The roller coaster has its beginnings in Russia where during the 1600's. People crafted sleds out of wood and built hills made of ice blocks. The hills had sand at the bottom to help slow down the sleds so they would not crash when they reached the bottom of the hill.1 Over time, the roller coaster has become more complex. They now are taller, faster and are designed out of different materials like wood and steel. Although roller coasters are fun and exciting, the questions, what allows them to twist and turn, go up and down hills at a fairly good speed? Why do they not fall off of the track when it goes through a loop? The answer to these questions and others about roller coasters lies in the application of basic physics principals. These principals include potential and kinetic energy, gravity, velocity, projectile motion, centripetal acceleration, friction, and inertia. The basic design of a roller coaster consists of a train like coaster that starts out at the bottom of the tallest hill of the ride. The train is then pulled up the hill and is pulled to the top of the hill. As the train is pulled from the bottom of the hill to the top of it, the trains' potential energy is converted onto kinetic energy. Potential energy is defined as "the energy of an object at a height h above some zero level as equal to the work done by the force of gravity"2 (139). Kinetic energy is the energy of "an object . . . because of its motion"2 (132). As the distance between the ground and the train of cars increases, the potential energy of the train increases as well. This increase in potential energy increases the amount of kinetic energy that can be released in the system therefore causes the system to be ... ... depleted causing the train to come to a stop. So, as you can see, roller coasters are an excellent example of the use of forces energy in a system and how they interact with one another to cause motion and to stop motion of objects. If these forces were not present, then we would have a very difficult time doing anything because there would be no way to start motion and if there was motion it would be very difficult to stop it. Works Cited 1. Annenberg/CPB. â€Å"Roller Coaster History† Amusement Park Physics: What are the forces behind the fun?. Learner.org http://www.learner.org/exhibits/parkphysics/coaster2.html. . April 29, 2003. 2. Kirkpatrick, Larry D. and Gerald F. Wheeler. Physics: A World View. ed. 4. Harcourt College Publishers. Fort Worth. 2001. 3. Britannica Online. â€Å"Roller Coaster Physics. http://search.eb.com/coasters/physics/. May 1, 2003.

adopt to a new environment :: essays research papers

What do you think the best way to adopt a new environment that has a different culture for a foreigner? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Well, I think it’s to develop social relationships with members of the new culture, and in order to have a better communication with them, it’s not enough just speak their language fluent, but we also have to know the personality of the country and the way that people talking. Today I want to share some of my culture shock experiences with you, and I hope those experiences can help you to have a little closer look of the personality of Americans and the way that people talking. The first thing I want to talk happened at the first day I attended to USC as its student, which just several weeks ago. A friend and I went to the cafeteria to have lunch. There was a middle size? guy caught my attention. He carried a big backpack and wore a huge headphone. He was singing as he stopped in the front of a food counter. It seemed that the music he was listening reached the climax. He closed his eyes, turned to another side and opened his arms while his sound became more and more loud until almost yelled! Everybody turned to look at him, and he seemed still enjoyed in that song. During a short quiet moment, a lady who sat in a wheelchair beside the table I sat suddenly moved her body hardly and yelled: I like it! I like it! The guy who shared the same table with us looked at me said: â€Å"Oh man, it is amazing, isn’t it?† I was still in shock and replied him a smile after couple seconds. †¦Ã¢â‚¬ ¦ This experience is unforgettable for me. That’ s the first time that I feel the free and open personality that people have in this culture so strongly.

Doing Business Abroad Essay

Companies around the world are expanding in order to meet a larger market. However, this is no easy task even for people who have been doing business for decades for there is always this thing called cultural diversity. This thing is put into consideration not only of companies and managers that establish businesses in other countries but also of those who engage into joint ventures and alliances. Setting a company globally requires not only good managers but thorough study as well. A market research would be very helpful especially to determine the needs and wants of the people in the locality. A bunch of factors affect the preference of people like religion, beliefs and environment. Should the product be modified to fit the desires of the people? For instance, burgers with beef patty are modified in order to be accepted and sold in Hindu-dominated countries. There are also cross-cultural trainings for managers that would be sent abroad. These are usually conducted by business schools with the aim of providing global managers who have the ability to cope with different challenges that they may encounter, especially those that are brought about by diversity in culture. However, as much as these trainings would help, they are not yet enough to suffice for the thorough understanding and settlement of cultural differences that might yield success to a business that spread its wings. Problems still remain due to this cultural diversity. Even with the repute of English in conducting business globally, language remains a problem. Language, as defined in the Merriam Webster Dictionary, is words with their pronunciation and the methods of combining them to be used and understood by a community. Words are not enough. Pronunciation and accent are essential, and at this part is where problem usually occurs. As Edward Burman cited in his article entitled Managing Cultural Diversity in a Global World, linguistic confidence can be perceived as quasi-colonial arrogance and this may eventually lead to conflicts. Similarly, jokes and stories which are essential in building harmonious relationship among workers are affected, not just because of the way they were delivered but more importantly by the context that they were formulated. Some humorous acts might be insulting to others, which again might lead to discord. Another problem that may arise due to cultural diversity is the way the human resource personnel determines the appropriate candidate for a job. Whether be it an expatriate or a native of the location of the headquarter, the measure to the achievements of an applicant varies from the school where he acquired his degree and skill to the society where he belong. These qualities may not be well-reflected in his application forms or the result of his examination or interview. Although it may be known to the resource manager that different cultures respond differently to various situations, the challenge is still to determine the best person whose culture and skill perfectly fits the job. Also, developing the trust with people from other culture opens another difficulty especially if a company will merge or ally with a local company of other country. Research can be done to be able to identify possible reasons to trust but it remains a thorny job for the managers in the negotiation table. Everything will matter, from the physical appearance to the gestures. Aside from these problems cited by Edward Burman, the way to designate a manager to a place is something to be thoroughly thought of. According to an interview with Robert J. Freeman, Americans are a bit resistant to exotic destinations. The question then is how these Americans would be assigned to a location beyond his desire. Or since there are expatriates of more than sixty nationalities, which should be chosen and what type of compromise would the company give to convince the manager. Nevertheless, these problems can be addressed if global managers have several skills as discussed by Josephine Song in her article Transcending Borders. The first is technical skills. Aside from the field that he is expected to master in order to efficiently perform his task, he must also be able to utilize the means that globalization brings for the betterment of doing things. He must be able to maximize opportunities and resources that might be useful for the accomplishment of his job. Likewise, he must also have good communication skills which comprise not only of knowledge of words but their proper pronunciation and usage as well, most especially English which is the basic medium for conducting business globally. Communication is not only via speaking, but also via reading, writing or listening. More importantly, global managers must take caution in their words and actions so that misunderstandings would be avoided. They must also be innovative and resourceful to improve their businesses according to the locality. With increase in expatriates all over the globe, I think it would be unfair to say that they or the locals could better cope with the changes. They might have an advantage with regards to having dealt with different cultures already that they might not find it anymore difficult to relate with another set of people. Their presence in the top management could also bring global perspective. But, their knowledge of the culture of the country where the company is located might be very limited as compared to the locals. Yes, they may be able to learn and adapt but still, the culture instilled in them would always be a part of them and their decisions and reservations. I think, it would be better to have a mix of expatriate and local managers in a global business for as Burman concluded, management remains culture-bound, be it local or expatriate.

Capital cost Essay

Q1. Bob Richards, the production manager of Zychol Chemicals, in Houston, Texas, is preparing his quarterly report, which is to include a productivity analysis for his department. One of the inputs is production data prepared by Sharon Walford, his operations analyst. The report, which she gave him this morning, showed the following: 2008 2009 Production (units) 4,500 6,000 Raw material used (barrels of petroleum by-products) 700 900 Labor hours 22,000 28,000 Capital cost applied to the department ($) $375,000 $620,000 Bob knew that his labor cost per hour had increased from an average of $13 per hour to an average of $14 per hour, primarily due to a move by management to become more competitive with a new company that had just opened a plant in the area. He also knew that his average cost per barrel of raw material had increased from $320 to $360. He was concerned about the accounting procedures that increased his capital cost from $375,000 to $620,000, but earlier discussions with his boss suggested that there was nothing that could be done about that allocation. Bob wondered if his productivity had increased at all. He called Sharon into the office and conveyed the above information to her and asked her to prepare this part of the report. Prepare the productivity part of the report for Mr. Richards. He probably expects some analysis of productivity inputs for all factors, as well as a multifactor analysis for both years with the change in productivity (up or down) and the amount noted. Management’s expectation for departments such as Mr. Richards’s is an annual productivity increase of 5%. Did he reach this goal? Q2. Samsang Manufacturing Inc., manufacturers DVD players for commercial use. Holland Samsang, president of Samsang Manufacturing Inc., is contemplating producing DVD players for home use. The activities necessary to build an experimental model and related data are given in the following table: Activity Normal time (weeks) Crash time (weeks) Normal cost ($) Crash cost ($) Immediate predecessor(s) A 3 2 1000 1600

Online grading system Essay

Chapter I Nowadays, computers and other technology are very useful in the fields of education especially in our daily activities. The importance of computers cannot be denied in the fields of education because as we all know, computers are very significant in terms of learning and working. With those technologies, we can save time for other activities. Computers connected with internet also serve as useful tools for communication. Through this process various types of descriptive information and measures of students’ performance are converted into grades that summarize students’ accomplishment. Online Grading System is designed to provide incentive reward for achievement and assist in identifying problems of the student. Grading System is the most commonly used in computing and analyzing the performance, talent and skills of student? Grading system is an exercise in professional judgment on the part of the teachers. It involves the collection and evaluation of evidence on students’ achievement or performance over specified period of time. Parents can view and updated on the performance of their children. While teachers work load can be lessen through computing the grades automatically. Online Grading System of Cauayan South Central School (CSCS) is design to provide the system where in the parents of the students of Cauayan South Central School (CSCS) can access the grades of their children. Originally, the school was opened in the year 1953 through the initiation and encouragement of the late Teodoro Cariňo, who was at that time the Division Academic Supervisor from Pangasinan who resided here in Cauayan. The Teaching Staff welcomed and embraced the growing enrolment. Though their sincere and dedicated service to the community, they begged for more school buildings to house the school children hungry for formal education. From this point of view, the school will serve as a potent instrument because of the vast extent of outreach and of the size of the populace. To optimize this contribution to social, intellectual and cultural development, it has to maintain and accelerate its progress to be able to cope fully with changing world. It is believed that with the time tested, loyalty and cooperation of the school officials and teachers, the CSCS will surely be the best show window of the City Division. Thus, the above reasons drove the researcher to conduct a study regarding the Online Grading System, which aims to improve their present system. Statement of the Problem This study was conducted to assess the present of Cauayan South Central School Online grading system and aims to computerize the records of the students of Cauayan South Central School. Particularly the study attempted to answer the following questions: 1. To what extent are the problems encountered by the students and teachers in the present system in terms of: a. Security of records b. Efficiency of the present system c. Economics 2.What is the respondents’ evaluation on the advantages of the proposed Online Grading of the Students Record System in terms of: a. Security of records b. Efficiency of the present system c. Economics 3. Is there a significant difference in the evaluation on the problems encountered as perceived by the three groups of respondents in terms of: a. Security of Records b. Efficiency of the present system c. Economics SIGNIFICANT OF THE STUDY The result of this study â€Å"A proposed Online Grading System for Cauayan South Central School, Cauayan City, Isabela† are very important to the following: To the school – The result of this study will definitely help the Cauayan South Central School, Cauayan City, Isabela no longer have to re-compute the grades of each student to check on their accuracy. Reports such as grading sheets and class records can be submitted on time via online. To the faculty Teachers – Teachers would be able to record and compute for the grades of their students in any place or in any time with an internet connection and faster thereby lessening their workload and providing them with added time to attend to other functions. This in turn would improve their efficiency as teachers. To the Students – Students can now look forward to better lessons since their teachers would have added time to prepare for them their lesson plans. To the Parents of the Students – The parents can know the grade of their children through online. To the researchers – This study enhances the knowledge of the researcher in writing and programming. Furthermore, this study gave the opportunity to the researcher to learn and strive more to become competent in her field of interest. To the Future Researchers – this study will focus as an instrument for researcher related activities and will help them gain insights about the study and how to go about it. Definition of Terms Computer. It is any machine that does three things accept structure, process it according to prescribed rules and produce the result as output. Computer Program. In this study, it is a set of instruction in some computer language intended to be executed on a computer to perform a useful task. Data. In this study, it is the plural of the Latin datum, meaning an item of information following classical usage, one time of information. Input. In this study, it is the information entered in a computer for processing. Information System. In this study, in programming it is a collection of routines stored in a file. Each set of instruction in a library has a name and performs a different, often very specific task. System. In this study, it is a collection component elements that work together to perform a task Software. In this study, it is a computer program, instruction that cause the hardware the machine to do work. SCOPE AND LIMITATION This study was conducted at Cauayan South Central School involving the pupils, teachers and parents during the School Year 2014-2015 This study focused on the assessment of the student’s grades of Cauayan South Central School and the development of the Online grading System. This study is limited only to the student’s grade and does not cover the other transaction of the school. It cannot be used for conversation. If the instructor submitted wrong grades of student, the online system is not  reliable in human error. The grade encoding process relies on internet connection Chapter 2 Review of Related Literature and Studies To be familiar with the study, the researchers gathered some information through surfing the internet and scanning text book to improved their related literature and studies. Local Literature According to Torall (200) think with all the tough times were facing, having a website now is very important among small and medium enterprises and use it as medium to sell product and disseminate corporate information. Having a website communication where one can join. Foreign Studies According to Moreno (2000), School is now in their own website but they got to effectively utilize this technology to bring real benefits to their audience: students, parents, teachers, and school officials. The World Wide Web is one of the most effective communication technologies today. A school website can expand opportunities for parents to communicate with the school and become more informed about the education their children are getting. Teachers can use the school website to share ideas with other teacher and make them available even to everyone else. A school websites can also allow parents to voice out there concerns to school officials. Some parents avoid communicating with their children’s school because they do not feel comfortable talking to teachers or they think their concerns will not be heard while others are simply burned out by their work. When the need arises, many parents and teachers find themselves unable to contact each other. School websites can greatly eliminate barriers in involving parents in the school. Foreign Literature Castro(2000). The World Wide Web is the Gutenberg press of our time. Just above anyone can create their own web. Web site and then present it to the internet public. Some web page belongs to business with service to sell, other to individuals with information to share. Randall(1996) an English professor at the University of Waterloo Canada, heist the author of several books about the internet. Thousands upon thousands of companies, organization, and individuals are looking to the web as an important means disseminating information. If you’re not part of it, you’re already somewhat behind. Jumping onto the web is like jumping onto the biggest stage ever designed. When you put your page in the web, you’re inviting the world become take a look. Most internet user won’t bother, either because they’re not interested or, more likely, because they never get to know your contribution (it’s a huge stage). Realizing that the average person, when they begin to look into CCTV, has little way of knowing where to find expert advice at reasonable cost, we have set up this website to bring together some of the top people and organizations working in this field. The companies and individual found on this web site are those who do not just talk about excellence, but both believe in it, and make sure that it runs through every fibred of there organization and dealing with costumers. Local Studies Guidance for Government Webs site Issued (www.nee.edu.ph.com) The National Computer Center (NCC) recently issued memorandum curricular 2002-01, â€Å"Guidance on Creation of the agency’s official website and compliance to the E-commerce law and stage one of the UN-ASPA stage of E-Government†. The circular further states that the computer agency will coordinate and provide technical assistance to national government agencies (NGAs), Local Government Units (LGU) and state universities and collage (SUCs) to ensure that they have website that will provide basic public information. The basic information includes the following; organizational aims structure and responsibilities of each unit. Mangulit (2001) Book Store Inc. According to Mangulit, Website now number by the millions. There are personal Website, corporate website, small business Website, and so on. And the number of website just keeps on growing each day. Website provides two real value-adding services. Website allows companies to either make more money or save money. Business can make more money by selling their product and services through the website. The website also to save money allow business. According to Ducusin, Many Business School, Individual, and Government agencies at all levels have rushed to establish a presence on the internet. The attraction is the ability to quick and inexpensively provides information to a large number of people. The website can provides the public with information about government agencies also provide about agencies mission, service offered, office hour, and email add for correspondence. Eventually users of the WWW will be able to submit request to an agency for document or other inquires directly though the webpage. Also provide information about the government agencies and the service that they offer. Many of the interactions between citizens and government that require visit to government office could be handling through home page in the internet. Request for permits driver’s license record, documents and forms could all be handled through the internet. Chapter III Technical Background At present, Cauayan South Central School, Cauayan City, Isabela are using manual system in grading of student’s. They are using forms to track the student transaction in the school and then keep it in drawer or cabinet for safe keeping.! PHP platform was used in the development of the program. Since the project is designed as a client server program, two or more networked computers are needed in the school for the implementation of the project. The program will be used by the teachers. The teacher’s and student’s must registered if new and has no record yet in the website. Once the students is already registered in the website and wants to have their grade, the student or the parent will just search student’s record, and then input his or her findings and recommendation in the website for the  update of student’s record. Below are the technologies used in the development of computerized medical and dental record system. Software PHP Platform used in the development of program Microsoft Windows 7,8,XP Operating system (minimum requirement) SQL Server Database 2005 Database (minimum requirement) Google Chrome, Mozilla Firefox, Internet Explorer, RockMelt, and Safari Browsers (recommended use of Google Chrome) Hardware Computer Unit Specification (minimum requirement) 1 gigahertz (GHz) or faster 32-bit (x86) or 64-bit (x64) processor 1 gigabyte (GB) RAM (32-bit) or 2 GB RAM (64-bit) 16 GB available hard disk space (32-bit) or 20 GB (64-bit) DirectX 9 graphics device with WDDM 1.0 or higher driver Internet Connection Ink Jet Printer (for report printing) Network Hub and UTP cables were used in networking the computers. Peopleware System user must be knowledgeable in using computer. Chapter IV Methodology The methodology chapter provides the details of the step by step procedures used in developing the Online Grading System. The project procedures will be explained in detail. Requirements Specification The proponent used the System Development Life Cycle (SDLC) – a structured analysis concept in developing a system. Phase 1 – SYSTEM PLANNING The proponent performed preliminary investigation to the school where we able to identify the process and flow of manual grading. Phase 2 – SYSTEM ANALYSIS After the investigation, the proponent build logical model for the new system based from the user requirements. Phase 3 – SYSTEM DESIGN At this stage the proponent design the user-interface and identify all necessary outputs, inputs, and processes. In addition the proponent design internal and external controls including computer based and manual features to guarantee that the system will be reliable, accurate, maintainable and secure. Phase 4 – SYSTEM IMPLEMENTATION I this phase the proponent constructed the new system. Program is written, tested and documented and system is installed. Phase 5 – SYSTEM OPERATION, SUPPORT AND SECURITY At this point, the clinic staff maintains and protects the system. Based on the phases and deliverables of the SDLC, Figure 1 shows the timeline of the researcher undergone. The entire study is accomplished in 2014 Figure 2? Data Gathering Procedures First, the researcher prepared a letter seeking for the approval from the principal name After seeking approval, the researcher prepared the questionnaires, have them checked and approved by the Research Instructor and then administer the questionnaires to the respondents. Data Gathering Instruments This study made use of the Questionnaires as its main instrument in gathering data. It also made use of interview to support the data and  information gathered from the questionnaires. This will also be supplemented by observations and documentary analysis. Questionnaire The researcher used the questionnaire method in collecting data in a large number of people. The questionnaire undergone different kind of approval; first, the questionnaire was checked by the adviser to make sure that is related to the statement of the problem. Second, the English Critic made sure that the grammar and spelling were ceorrect. Interview The researcher interviewed the principal to obtain pertinent data and accurate information that would help in improving their manual grading. Observation Observation was done by the researcher to get more information about the current process. Internet Researcher The researcher used the internet to collect additional information about Online Grading System. Library Reseacher Library research was done in defining terms in the study and served as a reference in making document analysis from similar studies and procedures. The method helped the researcher and served as a guide on how to organized data that is needed on the study. Figure 3: Input-Process-Output (IPO) model The proponent used the IPO model. In the input column is information or ideas used by the researcher. Processing column are the actions taken upon using input. Output is result of the processing, which is the development of the proposed system. Data and Process Modeling Figure 4: Proposed System Context Diagram The context diagram illustrates the structure of the Online Grading System of Cauayan South Central School. It shows the relationship among the Administrator, Teacher’s, Students. The system has inputs like the student information, teachers information, and user information. To access to the system, the user enters the correct username and password. After the username and password validation, the user can add, delete, edit and view depending of the transaction desired. The system output is the Grade of the Student’s. Data Flow Diagram The researcher used the Data Flow Diagram to understand the flow of the project and at the same for future study. DFD demonstrate the external entities, data storage and the to be performed. In the Lon in process, the user needs to enter his username and password. When the username and password were entered, the system will look for any information matched in the database. As soon as the system confirms that the information given is valid, the system will show the user’s interface. There are different views for the administrator, the student and the teacher. Figure 5: Log in Information of Online Grading System of Cauayan South Central School

What Actions Might Be Taken Limit Price Fluctuations?

Title: Distinguish between price elasticity of demand, cross elasticity of demand and income elasticity of demand. What actions might be taken by countries and companies to reduce or limit price fluctuations? Class: Business J Student: Ibrokhim Parviz Student ID: 99592 Tutor name: Sally Word account: Introduction: Nowadays in modern developed market change in prices and other factors are very expected. The change in one of the factors for instance price and effect of it on another factor like demand or supply are measured by elasticity. Elasticity is the measure of how the change in one of the factor will be affected on the other factors.Elasticity measures extent to which demand will change. Measure easily can be calculated in percentage (Anderton 2008). After a calculation of elasticity, it’s divided into three types which are classified by values of elasticity: perfectly elastic-infinity; elastic – if value is greater than one; perfectly inelastic- equals zero; inela stic – if the value of elasticity less than one; unitary elasticity – if the value is exactly one (Anderton 2008). There are four basic types of elasticity measure: Price elasticity of demand; Income elasticity of demand; Cross elasticity of demand and Price elasticity of supply.In this essay will be discussed types of elasticity and government intervention in the open market, benefits and negative impacts (Anderton 2008). Note: New quantity demanded – ^Q; New price – ^P; Original Demand – Q; Original Price – P; Percentage change in quantity demanded-%Q; Percentage change in quantity of supply-%S; Percentage change in Price-%P Formula: P (times) ^Q (over) Q (times) ^P Price Elasticity of Demand: Price Elasticity of Demand or also known as Own Price Elasticity of Demand (PED), measures the responsiveness of change in quantity demanded to change in price.The formula is: percentage change in quantity demanded over the percentage change in price . PED has – (negative) sign in front of it; because as price rises demand falls and vice-versa (inverse relationship between price and demand). Determinants of PED are the availability of substitutes and time. PED have some links with changes in total expenditure (Anderton 2008). Example: After increasing price from P1 to P percentage change in price was 10, demand for good X is decreased from Q1 to Q and percentage change in quantity demanded is 60, what is price elasticity of this good?Solution: Formula is %Q / %D, so 60/10=6. PED is greater than one so its elastic good. Elastic demand curve of the Good X Price P P1 0 Q Q1 Quantity Income Elasticity of Demand: Changes in real income of individuals can change the spending pattern of consumers. For instance if the consumer use to buy ketchup made by supermarket which is Normal good, after the increasing of income he can buy a Heinz ketchup so, Heinz will come as normal good, and the ketchup of supermarket production will be i nferior good (Anderton 2008).This change measured by Income Elasticity of Demand (Anderton 2008). The formula is percentage change in quantity demanded over percentage change in income. If the answer will be positive sign it means its normal good; if negative sign, inferior good. Difference between inferior good and normal is by their income elasticity of demand. For instance holidays and recreational activities are with high income elasticity of demand, whereas washing up liquid have a low income elasticity of demand. If the value of income elasticity is lies between +1 and -1 so its inelastic.If it greater +1 or less than -1 so it is elastic. Example: Demand for housing increase by 10 per cent, simultaneous income of consumers rises by 5 per cent. Calculate income elasticity of demand. Solution: Formula is percentage change in quantity demanded over percentage change in income, so 10/5 = 2. The value of income elasticity of demand is greater than one, so it is elastic. Cross elast icity of demand: As it knows change in price of good can affect change in demand of that good. However, if the goods are substitute or complements, the change of price in one of them, may lead to change in another.Cross elasticity of demand measures this kind of changes (Anderton 2008). Good which are substitutes will have a positive cross elasticity, and if goods are complement, it will have a negative cross elasticity. If the goods have a small relationship between each other the may have a zero cross elasticity. For instance a rise in demand for luxury cars, likely may have no effect on Tipp-Ex. Demand is cross elastic if it is between +1 and -1, if cross elasticity is greater than +1 or less than -1, then it is elastic.Example: Price of macaroni was increased by 10 per cent. Quantity demanded for cheese was increased by 20 per cent. What is cross elasticity of demand. Solution: The formula is Percentage change in quantity demanded of Good X over percentage change in price of Goo d Y. So, 20/10=2. Value is greater than one, so it is elastic. Price elasticity of supply: Also can be measured the responsiveness of quantity supplied to changes in price, this is called Price Elasticity of Supply (Anderton 2008). The formula is: percentage change in supply over percentage change in price.The curve of supply is upward sloping; it means an increase in price leads to an increase in quantity supplied. An elasticity of supply equal one can have a straight line which passes supply curve. For instance if the price of shoes goes up, producers to make more profit produce more shoes which leads to increase the supply. Example: The percentage change in price is 10, the percentage change in quantity supplied is 20. Calculate the price elasticity of supply. Solution: 20/10=2, so product is elastic. Elastic demand curve of the Good X P P1 Price / Q Q1 Quantity The prices of commodity goods are going up and down. The reason of price fluctuation is changes in supply or demand. Eq uilibrium in price find when supply and demand will intersect each other. The change in one of them will cause price fluctuate. For instance the problem with supply may cause poor harvest or loss in production. Change in demand can be caused by change in technology, income or substitutes (Parkin 2010). Mostly in agricultural or commodity markets there is large price fluctuation in price in very short time.This can give negative impact on producers, for instance they may have over or under production in short term; or calculate over or under investment in long terms. Also prices can be too high for essential goods, like bread or rice, problem with this goods can cause a disorder in country caused by young adults which not satisfied with high prices, similar situation was in Egypt in 2011. On the other hand prices can be too low, for instance cigarettes, its generally known that smoking harms health, governments to protect citizens making new rules, for which they spend money, for tha t reason it can make negative impact on governments economic.Another example can be farmers, if the incomes of farmers will be too low, they can leave the land and stop production, so governments needs to decide to increase their incomes (Parkin 2010). Although there is also other motives of intervention government to market. Government can intervene market for benefits of their citizens or themselves. For instance, Organization of the Petroleum Exporting Countries or OPEC, this organization is a group of countries which sets prices high in long term to increase their revenues (Parkin 2010). By the way theoretically it can increase living standard of citizens that country.Stable prices: The reason why stable prices are important for companies or government is that big firms can have a plan on a long term basis; if consumer spend on one good more than on another it may cause problem for other part of economy of country. Governments of each country decide how to reduce or limit fluctu ation. There are few ways that government can equalize the price and keep it stable. For instance: maximum/minimum prices; encourage the development of substitutes; establish buffer stock; use of subsides; devote more factor resources; export bans or changes in import tariffs.Now will be discussed they ways of intervention with the positive and negative sides. Maximum prices: Government can intervene market and set up new maximum price which will be lover then previous to help consumers in short term be available to purchase that good. In long term in can cause problem, because consumer will demand more, but sellers will supply as usually, so there may be arise problem with excess demand. Minimum prices: Minimum prices are usually to help producers increase their incomes.Negative impact of this change is that consumers can react on higher price of good, and decrease the demand, so in the end there will be excess supply (Parkin 2010). However, there is two solutions for excess supply . One of them is to buy the extra production by the government and sell it back in low prices, sale it to farmers for their animals, offering it to those who in need this good in EU or to sell it to Third World countries at rock bottom prices (Parkin 2010). Another way to solve it is to restrict the production. The government can force the farmers to leave the part of their land uncultivated(Parkin 2010).This can lead to shifting the supply curve to the left. Reducing output to achieve higher prices is the way in which OPEC works(Parkin 2010). New substitutes: Government can encourage new substitutes. For instance substitutes for coal energy can be solar energy or wind energy (Parkin 2010). New substitutes can increase supply, by shifting it to the right and decrease the price. These substitutes at beginning need a lot of investment. They need to be invested in long term to keep it working. Also there is other factors which can decrease or increase spending.For instance if it is dus ty country government need to keep clean the solar energy equipment. So there is needed machinery and people who will keep it clean in every period that needed. Buffer stock: Buffer stock is an organization which buys and sells goods in the open market to stable price in the market. If the price of goods goes down, buffer stock, buys the goods for stabilizing price, if the price goes up, buffer stock sells good, to take price down. The way buffer stock theoretically seems to be easy in practise, but actually it needs a lot of investment (Sloman 2006).First needs in money is for the goods that must be bought in market. Secondly goods must be stored at condition that can keep it over long time for use. For instance rice must be kept in place with access to fresh air in +15 +20 temperature. Thirdly goods must be under security. On the other hand, theoretically buffer stock can bring profit, because the goods are bought in low market price where was intervention and sold below the inter vention. This is mostly with primary products, such as gold, tin and agricultural-wheat and beef. This mainly due to supply side influences.For instance demand and supply for canned tomatoes can be staying same for long term, nearly one year. If there excess in supply, canned tomatoes can be stored, if demand increase they can sell from stored. However, this is different for fresh tomatoes, for instance supply in summer time is great and price relatively low, but in winter time the supply is low and prices are high. Example for intervention of buffer stock on market can be olive oil. In European Union there is excess supply and prices of oil going down. Farmers are disappointed because they lose profits. European Union decided to buy olive oil for 24$ million dollars.Use of subsidies: Government to stabilize the price can use of subsidies. Subsidies is the money which is granted to producers to reduce the production, or to decrease the price. For instance producers of the rice have excess supply over long term which leads to decreasing the price. Next time government gives money for farmers to leave a piece of land uncultivated so there will be no excess supply. The different interventions are likely to be: The different interventions are likely to have some advantages and disadvantages. Government should make a research before starting intervention on market (McDowell 2012).It must be taken into account every question which can be come up in realisation of the project. For instance before encourage new substitutes how it can effect market, is it effective, or how much needed investment for start-up. All this question must be seem from every sides so in the future there will not be problem. Bibliography: Anderton, A (2008). Economics Fifth Edition AQA. 5th ed. Essex: Pearson education. P30-132. McDowell, M. (2012). Economics. London: McGraw-Hill Higher Education. p45-62. Parkin M. (2010). Economics. 9th ed. US: Pearson. p56-60. Sloman, J. (2006). Economics. 6t h ed. London: Financial Times Prentice Hall. p89-104.