Household Behavior and Consumer Choice an Example of the Topic Economics Essays by

Household Behavior and Consumer Choice The patterns of household behavior and the choices the consumers make influence the labor and the capital markets. Household decisions play an important role in the economy because of its invariable relationship with firms. Household behavior and consumer choice may be summarized in the demands of the household, decision regarding the allotment of household budget or household income as it is related to the maximization of utility, substitution processes, the rates of wages and interests, and the cost of leisurely activities. Quijano and Quijano illustrated the influence of household behavior and consumer choice to the labor and capital market through a continuous chain or cycle. Need essay sample on "Household Behavior and Consumer Choice" topic? We will write a custom essay sample specifically for you Proceed Household decisions and consumer choices dictate the supply for labor and capital. The increase of decrease in supply for labor and capital affects the demand for labor and investment that consequently determines the failure or success of firms or business organizations and their capability to produce output supplies. Output supplies are put up in output product markets waiting for the rate of demand for products, which is influenced by household decisions and consumer choices. (Quijano & Quijano, 2007) University Students Usually Tell Us: How much do I have to pay someone to write my paper online? Essay writer professionals suggest: It Is Very Easy And Convenient To Buy Essays Online The role of household decisions and consumer choices is grounded on the assumptions that competing firms cannot control prices, products available in the market are homogenous or similar, and that households are aware of the nature and characteristics of products in terms of quality and price and firms or business organizations reveal information regarding rates of wages and interests, costs of capital, and the prices of output products in the market. Moreover, it is based on three decisions that households need to make such as the quantity of output products to order that then dictates the supply that will be allocated for labor, and spending and saving patterns. (Quijano & Quijano, 2007) These factors identify household behaviors and consumer choices to be vital in economics and market trends. Household or consumer demand or the decision of a household regarding the demand that will be imposed to output products in the market is influenced by the price tagged to the product, the total income of the household or consumer, the accumulated wealth or assets (savings, properties, insurance, etc.) of the household or consumer, the prices of other products in the market, the prices of other products that the household or consumer needs, the inclination of the household or consumer, and the household or consumers assumptions regarding future economic situations pertaining to increased interests that will affect future prices of products, changes in wage rates, etc. (Quijano & Quijano, 2007) These factors that determine household demand dictate the output products that households or consumers are more likely to purchase due to affordability and budget constraints. For instance, the total income of a household or consumer as a determinant of household demand influences opportunities for the household or consumer to purchase products, whether in a limited or limitless fashions, of course related to their likes and dislikes. The maximization of utility refers to the household or consumers decisions when it comes to choosing products that will provide more benefits and fulfillment as compared with other products. Households or consumers distribute their income in order to maximize the advantageous and enjoyable results that they obtain from products. Maximizing utility means that households or consumers are more likely to purchase products that fit their income as well as provide them with full and lasting enjoyment or benefits. (Quijano & Quijano)Income and substitution effects have something to do with the price of products and commodities. The income effect reveals that when the price of a particular product rise, household or consumers tend to lessen their purchase of that product. Moreover, when its price decreases, households and consumers are more likely to purchase that particular product, as well as other products in the market. On the other hand, the substitution effect implies that when the price of specific product increases, households and consumers tend to purchase less of that product or substitute it with products with lower prices. This household behavior and consumer choice influences the demand and supply for a particular product. (Quijano & Quijano, 2007) Wage and interests rates depend on the economic situation. It refers to the actual relationship between wage, interests, and spending. The expenses of a household or consumer are highly dependent on wages and the price increase or decrease of products in the market. Households and consumers are then faced with the decision regarding expected sum of wage and type of job as well as the prices of products and commodities in the market. The status of the economy determines provided wages and interest rates. Therefore, when an economy is declining, it is unable to provide wage rates that are appropriate for products or commodities with increased interest rates. Households or consumers begin to prioritize and purchase what they need instead of what they need and want. The demand for necessities will stay the same while the purchase for other products will decline. (Waters, 2008) The price of leisure is relative to the rate of wages. This means that time for leisure is compromised if the need to stay engaged in work in order to receive higher wages is prioritized. This influences expenses for leisurely activities and the rate of wages that households or consumers receive. Furthermore, choosing work over leisure is influenced by the demand to purchase a particular need or want, while at the same time compromising other activities or products that decreases time for work and lessens the rate of wages. (Quijano & Quijano, 2007) In general, household behavior and consumer choices, such as patterns of demand, allocation of income for the purpose of maximizing utility, substitution as influenced by income and prices, wages and interest, as well as choosing work over leisure dictate the status of the economy. It determines what products are in demand, what supplies to increase or decrease, etc. It assists in making economic strategies and decisions based on the behavior and choices of households and consumers. In addition, determining household behavior and consumer choices provides relevant information to firms or business organizations in order to adjust organizational goals and objectives to suit the needs and demands of consumers as well as to become successful in the realization of these goals and objectives. (Crowe, Shuh, & Stavins, 2005) References Crowe, M., Shuh, S. Consumer Behavior and Payment Choice Quijano, F. Household Behavior and Consumer Choices. August 24, 2008, from Prentice Hall Business Publishing. Website: http://media.pearsoncmg.com/ph/bp/bp_case_econ_8/chapter/ppt/case_econ08_ppt_06.ppt Waters, J. (2008). Economy Forces Major Shift in Spending. Retrieved August 24, 2008 The Wall Street Journal. Website: http://online.wsj.com/article/SB121338190561972555.html

Dance - Lyon Opera Ballet essays

Dance - Lyon Opera Ballet essays Un Ballo is a dance piece that expresses a relationship between men and women. For the most part, the women in the piece come across as being peaceful, gentle and eloquent. The men touch the women with tenderness throughout most of the dance. However, at times the audience feels the sexual tension between the male and female partners. Un Ballo is a dance that portrays love and the complications that come alone with it. The romance that is depicted in this dance is dominated by the women in the dance. They come across as having more power than the men in the relationship, yet, at the same time they are still vulnerable which makes the performance entertaining. The form of Un Ballo is how I came up with the content conclusions that were just described. While watching the dance, the first thing that the audience notices is the fact that there are five couples on the stage. They began the dance with the five women standing in front of the five men. The women were wearing fancy black dresses. The dresses were tight like a bustier on top and eloquently flowed out once it reached the bellybutton. The length of their dresses were below the knee, revealing the lower part of the female dancers legs. The men were wearing semi-tight shirts and black pants, which were also relatively fancy to fit with the womens image. As the dance started, the classical music began. The music was soft, slow, sad, and romantic. In the beginning, the dancers moved to the music gracefully. The men traditionally presented the women and led her through the dance while lifting the women from time to time. Towards the middle of the dance, the music stopped and the women stopped dancing and started to bang on the floor. This happened a couple of times throughout the dance. The banging on the floor made the women appear and sound strong for a moment. The banging t ...

International Business Research Paper Example | Topics and Well Written Essays - 4500 words

International Business - Research Paper Example The tremendous amount of development in the fields of technology along with high level of advancements in the telecommunication arena has resulted in the process of emergence and spread of various kinds of internet powered gadgets like Smartphones, tablets etc. Because of the nature, psychology and fascination towards technological gadgets, the new age electronic devices which has attained the status of lifestyle objects, has gained speedy acceptance in the lives of the masses around the world. On the same lines, it is important to mention that because of the continuously changing world, the lifestyle of the masses located in the markets of the developed as well as the fast emerging regions are also witnessing a steady shift. Because of the rise in pace of human lives as well as growing hectic schedules, the internet powered gadgets has become the modern day individual’s gateway to knowledge, information, entertainment as well as a host of other activities. The multi feature f acilities supported by the recent day gadgets play a highly catalytic role on this particular arena. Due to the favourable points of access of the internet from various latest day gadgets and phones, the consumers located in various corners of the world are getting increasingly exposed to trends of various markets. The process of globalization, is continuously paving the way for spreading of new trends in the markets of both the developing as well as the developed regions. With the arrival of new trends, consumers are getting more and more demanding in nature in regards to their specific requirements. This is in return creating a demand in the marketplace for kinds of innovative products and services. It is highly important to state that the new demands that are emerging in various markets around the world because of sophistication of consumer behaviour of the masses are resulting in the emergence of a new kind of business opportunity. Sensing the rise of new opportunities for busin ess in various markets around the world, the companies and organizations which are located in distant foreign locations are continuously evaluating the gains that might emerge by entering in the new business markets. This trend of entering of new markets by foreign companies is resulting in the rise of international management in the arena of business. It is very important to state that while concentrating on the process of business management of international nature, various factors and trends that are very different from the influencing factors of domestic business has to be considered by the management of the organization. This project highlights the strategies that has to be designed by the firm named Qatar Petroleum for the purpose of entering international markets, while taking into account the various factors that might bring a significant amount of influence in the entire process. It is utterly important to state that this project will be largely based on concepts of interna tional management. It will also include linking the concepts of international management for designing strategies related to international management. Needs for International Management The growing levels of competition in the multiple markets around the world have created a sense of urgency on the companies in regards to successful value creation and communication for their respective products and services. With the emergence of multiple firms offering homogeneous

PESTEL analysis for Embraer Case Study Example | Topics and Well Written Essays - 500 words

PESTEL analysis for Embraer - Case Study Example PESTEL is an acronym for the Political, Economic, Socio-cultural, Technological, Environmental and Legal factors that contribute to the growth or decline of an organization. Embraer is the quintessential example of the success of neoliberal privatization of a government company. The political and social factors, to some extent, contributed to the growth of this company. The political environment of Brazil, despite being poor, has had little to no effect to Embraer. The privatization in 1994 excluded the government from the running of the company (Rothaermel, 2012). Similarly, the socio-cultural factors have had minimal contribution because this company does not focus on people. The company focuses on the building and selling of aircraft, which are bought by corporations and not bought by ordinary people. On the other hand, the economical and technological factors have contributed significantly to the prosperity of Embraer. Being based in Brazil, the company was at a unique position to benefit from the economic growth of the country (Rothaermel, 2012). Brazil is a world economic giant, ranked seventh, and is considered as the fastest growing economy in the world. Furthermore, the country is the largest economy in Latin America. This growth in Brazil’s economy has led to fertile economic environment for Embraer’s growth. There is availability of development capital in the country that led to the growth of the company. The government is a significant shareholder in the company giving it vast economic resources for gain. The Brazilian government was very instrumental in the present success of Embraer. After its inception, the Brazilian government gave the company license production contracts for the production of local aircraft. This contract was the catalyst for future growth because the company already had an available market (Rothaermel, 2012). The economical factors have had significant

Fashion changes in the American popular culture of the 1960s Research Paper

Fashion changes in the American popular culture of the 1960s - Research Paper Example The essay "Fashion changes in the American popular culture of the 1960s" discusses what changes happened in fashion in the America of 60th. The 1960s decade dawned the smiley face that appeared on almost everything including T-shirts. Characteristically, the smiley face gained more fame in the latter 1960s. The T-shirts and other items also had paintings of phrases of iconic events that epitomized the decade. The phrases included, â€Å"Martin Luther King†, â€Å"Civil Rights and Riots†, â€Å"The Space Race†, â€Å"Cuban Missile and Crisis†, â€Å"The Space Race† and â€Å"Vietnam. The term â€Å"hippie† derived from the word hipster. The hippies mainly represented an outgrowth from the Beat movement of the 1950s. The hippies often claimed to be aiming at freedom and re-embracing nature. They, therefore, represented an alternative interest in lifestyle as well being rebellious of the society that appeared to be repressive and conformist. Th e hippies made their clothing from natural fibers such as cotton and hemp. They also liked their clothing to be loose. Both men and women kept long hair with fussy styling, and they avoided hair products. They black trousers and turtlenecks worn by the female and male Beatniks metamorphosed into jeans and peasant blouses. Any hand-woven, hand sewn or hand knit macramà © soared in its prices. Gradually, the hippie fashion culture evolved into individuals dyeing their clothing. This colorful tie and dye fashion gain popularity almost immediately. In the fashion of the 60’s dressing appearance revolved.

To the Unknown Painter, Anselm Kiefer

To the Unknown Painter, Anselm Kiefer To the Unknown Painter, a painting made of oil, acrylic, latex, emulsion, and shellac, was created by Anselm Kiefer in 1983 (Figure 1). A palette adorned upon a pedestal sits in a vacated space surrounded by tattered columns while casket-like shapes seem to lay on the ground around the pedestal. Dark colors envelope the horizon while reds, browns, and whites color the columns. The palette sits directly in the center, almost unrecognizable, with a thin pedestal that matches the dark blue and black of the horizon. Straw is stuck on with a planned randomicity, giving it a scratchy and messy look. Although the area is physically empty, it is filled with Kiefers own victimhood and memories of traumatic events during Nazi Germany[1] Empty interiors of Nazi architecture, specifically referring to the courtyard of Hitlers Chancellery in Berlin designed by Speer, are used as a space for traumatic memories that will not be mourned or a space of internalization. Kiefer, a German himself, was born shortly before the Holocaust ended, so he did not experience much of the horrors many people lived through. The walls of columns suggest the Nazis and German rule keeping hidden the actions they had committed against millions of victims. Whereas the palette represents himself, a painter, who is stuck among the past and judgments of the present. The messy and scratchy texture simulates how Nazis would destroy artwork that were not in agreement with the German power. The painting speaks towards not only about himself, but towards the Germans and the Jewish. The empty space holds a memorial for traumatic memories of the Holocaust. Suspended in the center, the palette mounted on a pedestal becomes a memorial for Kiefers own sense of victimhood[2]. The palette, representing the victim, appears to look like it is trying to rise above the past and move on from those horrific events. Because he is German, he imagines himself as the victim of a burdensome historical legacy, unable to be unselfconsciously German because of the judgements passed on from others[3]. The painting brings people to the attention that not only what had happened was horrible, they shouldnt continuously badly judge and criticize current Germans who had no control of their ancestors choices. While the palette is reminiscent of a helmet resting upon a gun, it relates to a fallen soldier in a battle. Memorializing his life and what he went through. The battered architecture brings us back to remember that it is also a painting as well as a representation of memories being held within the space. Although the space seems to hold memories, the columns seem to be breaking and letting the memories go so they can be mourned and remembered instead of being repressed. The architecture reaches to the back with a one point perspective as if it is reaching towards the past. There could be two different interpretations from the painting from two different audiences, the Jewish and the Germans, or himself. The Jewish could interpret this as a way to memorialize the victims during the Holocaust, those who died because of German power. Casket-like shapes on the ground could represent these victims. Kiefer made a problematic claim that he and other Germans are victims as well because of the claims that they are still like theyre ancestors, so they will continue to carry around the burden of being German. The painting brings the attention of more about the scene of repression and how people shouldnt hold in the memories and be able to mourn them and let them go. Kiefer painted this along with a few others in a series, one of which is Tomb of the Unknown Painter. Doing research, this painting and To the Unknown Painter both came up when trying to find information, although more sources were available for this one[4]. Both of the paintings are similar in that they both use the same materials and contain a scratchy texture, attained with straw. Instead of a palette on a pedestal, a tomb sits upon stairs within a similar looking space. They represent similar things, traumatic events and a memorialization of those victims. The colors are dark, representing the dark past, mixed with strokes of bright colors such as red and yellow. Overall, Kiefer displays a controversial topic about the German victimization that has an impact on millions of people and can open peoples eyes to the reality of stereotyping and judgement upon them. His point is to get across that people should not continue to blame others for their ancestors actions, rather mourn the past and move on with a rebirth of a society. Word count: 814 Figure 1. To the Unknown Painter, Anselm Kiefer. 1983. Dem unbekannten Maler. Oil, acrylic, emulsion, shellac, and straw on canvas. 208 x 380cm[5]. Bibliography Saltzman, Lisa. Anselm Kiefer And Art After Auschwitz. Cambridge; Cambridge University Press, 1999. Arasse, Daniel. Anselm Kiefer. New York; Thames Hudson, 2015. [1] Lisa Saltzman. Anselm Kiefer And Art After Auschwitz. (Cambridge; Cambridge University Press, 1999), 68. [2] Ibid, 68. [3] Ibid, 69. [4] Daniel Arasse, Anselm Kiefer (New York; Thames Hudson, 2015), 70. [5] Ibid, 70.

Jamestown Essay -- essays research papers

Jamestown   Ã‚  Ã‚  Ã‚  Ã‚  In the sixteenth century, England was one of the most powerful countries in the world. England was also in dire need of money at this time. In an effort to alleviate the country’s financial burdens, King Henry VIII decided to seize land owned by the Catholic Church. Henry then sold the already inhabited land to investors, and its residents were forced out. These people and their descendants would eventually become some of the fortune-seeking colonists that would settle America during England’s try at Imperialism.   Ã‚  Ã‚  Ã‚  Ã‚  In the early 1600’s England need money once again, and this time it decided to by settling the new land to the west of them. Instead of actually funding these colonial expeditions, England would issue charters to joint – stock companies. These companies consisted of wealthy English investors who would all give some money to finance the trips and would share in the riches if they succeeded or lost their money of they failed. Most of the time the benefits of their investments would outweigh the risks. For England, this was a win-win situation. Since England did not pay for the voyages or the colonies themselves, England wouldn’t lose the money if they failed. If the companies succeeded, England was entitled to a percentage of the profits and became its ultimate authority.   Ã‚  Ã‚  Ã‚  Ã‚  England’s first colony was established in 1607 by a joint – stock company, and was named Jamesto...