Chemistry Lab Write-Up

The Effect of Temperature on the Rate of the Reaction Between Calcium Carbonate and 1. 0 M Hydrochloric Acid Josue Montoya IB Chemistry SL Mr. Pham Due Date: 07 March 2013 Dates Experiment Was Conducted: 27, 28, 29 February 2013 INTRODUCTION Research Question: How does altering the temperature at which calcium carbonate and 1. 0 M hydrochloric acid react, affect the rate of reaction? Aim: The purpose of the experiment is to demonstrate how changing the temperature at which a reaction takes place, either by lowering the temperature or making the temperature rise, affects the rate at which the reaction proceeds.To demonstrate how changing the temperature at which a reaction takes place affects the rate of the reaction, the reaction between calcium carbonate and 1. 0 M hydrochloric acid will be observed at 5 various temperature readings. The 5 varying temperatures are targeted towards being at 10? C, 20? C, 30? C, 40? C, and 50? C. It is highly improbable that each trial for each of the 5 different temperatures will be the exact temperature that was targeted, so it’s just important that you end up having a temperature fairly close to the targeted temperatures so that the rates of reactions that you do receive are as correct as possible.The rates of reaction will be obtained using an apparatus that will guide the carbon dioxide gas being produced from the reaction between the 1. 0 M hydrochloric acid and the calcium carbonate from a reaction chamber into a flask containing water. This experiment will be performed by placing about 3. 0 grams of calcium carbonate chips into a flask containing 35 mL of 1. 0 M hydrochloric acid at one of the targeted temperatures. This flask is called the reaction chamber because it is the flask that contains the actual occurring reaction. The reaction between calcium carbonate and hydrochloric acid creates carbon dioxide as one of its products.When the carbon dioxide goes through the tube connected to the plug that seals the re action chamber it enters the flask containing the water the water will be pushed up a different tube and will displaced into a 50 mL graduated cylinder where you can measure how long it takes for the water to be displaced up to a certain mark on the graduated cylinder using a stopwatch. In this specific experiment you will measure how long it takes for 15 mL of water to be displaced by the carbon dioxide gas being produced from the actual reaction. Background:The rate of a chemical reaction is inversely related to time. This means that the longer a reaction takes, the lower its rate. Rate can either be measured by the increase of product concentration divided by the time taken to achieve that concentration or by the decrease of reactant concentration divided by the time taken to reach that concentration of reactant (An Introduction to the Collision Theory in Rates of Reaction). The collision theory states that a chemical reaction is dependent on the collisions between reacting molec ules (An Introduction to the Collision Theory in Rates of Reaction).But, for a reaction to occur, these molecules must collide in the correct orientation and they must collide with sufficient energy to be able to overcome the activation energy needed for a reaction to take place (An Introduction to the Collision Theory in Rates of Reaction). Factors that have an effect on the rate of a reaction include the concentration of reactants at the beginning of a reaction, the surface area of the reactants, pressure at which the reaction held, the use of a catalyst, and the temperature at which a reaction is held(An Introduction to the Collision Theory in Rates of Reaction).Increasing the concentration of the reactants at the initiation of a reaction increases the rate of the reaction because as the concentration increases, the frequency of successful collisions between reacting particles increases as well (Ford 123). Therefore, lowering the concentration of the reactants decreases the rate of the reaction. Decreasing the particle size, or increasing the surface area of the reactants increases the rate of the reaction because by subdividing the reactants you allow for more of the reactant to be exposed and that will lead to higher probability that the reactants will collide and react(Ford 124).Increasing the pressure will increase the rate of reaction, only if the reactants are in a gaseous form because increasing the pressure will decrease the volume which will then increase the concentration of the gases and lead to more successful collisions(Ford 124). The use of a catalyst will always increase the rate of a reaction because it provides a lower activation energy for a reaction to undergo successfully (Ford 124-25). Temperature affects the rate of a reaction immensely.Increasing the temperature will increase the rate of all reactions because temperature is a measure of the average kinetic energy of the particles and so the higher temperature represents an increase in their average kinetic energy (Ford 123). This also means that there will be a larger amount of particles exceeding the activation energy needed to collide successfully and react; this translates into an increase in the rate of the reaction (Ford 123). Many reactions tend to double their reaction for every 10?C increase in their temperature (The Effect of Temperature on the Rates of Reaction). But, by lowering the temperature at which a reaction takes place you lower the rate of reaction just as much as you increase the rate when you increase the temperature. Being able to control the temperature at which a reaction takes place is important because by being able to control the temperature you are also able to control the rate at which reactions happen, but most importantly you are able to control how fast you yield the product from the reaction. Practice test:  answer keyFor example, in the Haber Process the product that is being produced is ammonia (The Haber Process for the Manufacture of Ammonia). By using a low temperature the equilibrium of the solution shifts to the right and yields more product, but using too much of a low temperature and the reaction will take an extraordinarily long time to create ammonia as a product. To solve this problem pressure and concentration of reactants are increased in order to be able to use a higher temperature so that the rate of the reaction is high, yet still produces a good amount of ammonia (The Haber Process for theManufacture of Ammonia). In this experiment the reaction between 1. 0 M hydrochloric acid and calcium carbonate will be studied. The equation for the reaction between these two substances is: CaCO3(s) + 2HCl(aq) > CaCl2(aq) + CO2(g) + H2O(l) The calcium carbonate reacts with the hydrochloric acid in order to produce calcium chloride, carbon dioxide, and water. In this experiment the rate of the production of the carbon dioxide will be indirectly measured through the timing of how long it takes for 15 mL of water to be displaced.But, if we are measuring how long it takes for 15 mL of water to get displaced into the 50 mL graduated cylinder we are also measuring how long it takes for 15 mL of carbon dioxide gas to displace the 15 mL water into the 50 mL graduated cylinder. Hypothesis: If the temperature at which the reaction between 1. 0 M hydrochloric acid and calcium carbonate increases, then the rate of the reaction between the 1. 0 M hydrochloric acid and calcium carbonate will increase as well.According to the collision theory, if the temperature at which any reaction is held is increased then the rate of that reaction will always increase (An Introduction to the Collision Theory in Rates of Reaction). Temperature is a measure of the average kinetic energy of the particles and so a higher temperature represents an increase in their average ki netic energy (Ford 123). This also means that there will be a larger amount of particles exceeding the activation energy needed to collide successfully and react; this translates into an increase in the rate of the reaction (Ford 123).But, temperature and the rate of a reaction are directly proportional. If you increase the temperature of a reaction the rate will increase as well, but if you decrease the temperature the rate will decrease too. Variables: Independent Variable: The temperature at which the reaction between 1. 0 M hydrochloric acid and calcium carbonate is held is the independent variable because it is the only variable that is being altered during the experiment. In the experiment we change the temperature of the 1. 0 M hydrochloric acid before the calcium carbonate is added for the reaction to proceed to 5 different temperatures.The 5 varying temperatures are to be approximately: 10? C, 20? C, 30? C, 40? C, and 50? C. We are able to change the temperature of the 1. 0 hydrochloric acid by emerging the 500 mL Erlenmeyer Flask containing the 35 mL of hydrochloric acid into cold or hot water baths. By changing the temperature of the 1. 0 hydrochloric acid, the temperature at which the calcium carbonate and the hydrochloric acid react is able to be changed and we are able to observe how the temperature at which a reaction between 1. 0 M hydrochloric acid and calcium carbonate affects the rate of the reaction.Dependent Variable: The rate of the reaction between the 1. 0 M hydrochloric acid and the calcium carbonate is the dependent variable because it is the variable that is being affected by the changes in the independent variable, which in this experiment is the temperature at which the reaction is held. By changing the temperature at which the reaction is held you will either increase or decrease the rate, depending on whether you increased or decreased the temperature at which the reaction is held. To measure the rate of the reaction between the 1. M hydrochloric acid and the calcium carbonate, we will time how long it takes for the CO2 gas that is produced from the reaction between the hydrochloric acid and the calcium carbonate to displace 15 mL of water. To displace the water and measure the amount of time it takes to displace it we will use a water displacement apparatus that will allow us to take the carbon dioxide gas produced to enter a water chamber and displace the water from that chamber into a 25 mL graduated cylinder, and we will use a stopwatch to time how long it takes for 15 mL of water to be displaced.Controlled Variables: 1) The concentration and amount of hydrochloric acid used should remain consistent throughout the entire experiment. Therefore you should only use 1. 0 M hydrochloric acid and only use 35 mL of it when conducting a reaction with calcium carbonate. To make sure your hydrochloric acid is of the same concentration every time you conduct a reaction, use the hydrochloric acid from the same sour ce every time, and to make sure you use 35 mL for every trial use a 50 mL graduated cylinder to measure the amount of hydrochloric acid before you place it into the 500 mL Erlenmeyer Flask.It is important to use hydrochloric acid with the same concentration throughout the entire experiment so that the rate of the reaction between the hydrochloric acid and the calcium carbonate isn’t affected by anything other than the temperature. If hydrochloric acid is of a higher concentration than 1. 0 M,   then the rate of the reaction will be faster than it should be, but if you use a hydrochloric acid with a concentration lower than 1. M then the rate of the reaction will be slower than it should be. 2) The amount of water being displaced should be consistent throughout the entire experiment, therefore you should time only how long it takes to displace 15 mL of water. To measure that you are timing how long it takes to displace 15 mL of water, use a 25 mL graduated cylinder. To get t he most accurate rates as possible, start the stopwatch after you place the calcium carbonate into the 500 mL Erlenmeyer flask containing the 1. M hydrochloric acid at one of the 5 targeted temperatures and you have sealed the flask with the cork, then stop the stopwatch as soon as you see the water being displaced reach the 15 mL mark on the 25 mL graduated cylinder. 3) The amount of calcium carbonate used throughout the experiment should remain constant, so you should use 3. 0 grams every time you perform a reaction between the calcium carbonate and the 1. 0 M hydrochloric acid. To make sure that you are using approximately 3. 0 grams of calcium carbonate in every experiment performed use a weighing balance to measure out the calcium carbonate.It is important to use 3. 0 grams of the calcium carbonate in every experiment because if you use more than 3. 0 grams then more carbon dioxide gas will be produced and the rate will increase because water is being displaced faster because o f the excess amount of calcium carbonate. But, if you use less than 3. 0 grams of calcium carbonate then the rate will be slower than it should be. METHOD Materials: 500 mL Erlenmeyer Flask 300 mL Erlenmeyer Flask 2 corks (plugs for that fit the 500 mL and 300 mL Erlenmeyer Flasks) Rubber Tubing 25 mL Graduated Cylinder 50 mL Graduated CylinderWeighing Balance Weighing Paper Stopwatch Calcium Carbonate Chips 1. 0 M Hydrochloric Acid 2 Glass Bowls Thermometer Heating Plate 400 mL Beaker Water Ice Procedure: Setup: Using the 500 mL Erlenmeyer Flask, 300 mL Erlenmeyer Flask, the rubber tubing, the 2 corks, and the 25 mL graduated cylinder make a water displacement apparatus like the one displayed in the diagram below. [pic] 2. Fill up the 300 mL Erlenmeyer Flask up to the 250 mL with water before each trial of the experiment is conducted. The larger 500 mL Erlenmeyer Flask is the reaction chamber in which the 1. M hydrochloric acid will be placed to react with the 3. 0 grams of calcium carbonate chips. The 25 mL graduated cylinder is where the water will be displaced into as the carbon dioxide gas enters the water chamber from the reaction chamber and displaced the water. Make sure to dispose of the water displaced into the 25 mL graduated cylinder after each trial. Experiment: Reaction at 10? C Set up an ice bath by putting ice and water into the glass bowl and set it aside so you can cool the hydrochloric acid later in the experiment. Using a clean 50 mL graduated cylinder, measure out 35 mL of 1. M hydrochloric acid and then place the measured out hydrochloric acid into the 500 mL Erlenmeyer Flask and set the flask with the 1. 0 M hydrochloric acid into the ice bath. Stick the thermometer into the hydrochloric acid and wait until the temperature of the hydrochloric acid drops to about 10? C. While waiting for the temperature of the 1. 0 hydrochloric acid to drop, use the weighing balance to measure out 3. 0 grams of calcium carbonate. First, place a piece of w eighing paper on the balance and tare it. After you have tared the weighing paper, measure out the 3. 0 grams of calcium carbonate.Put the calcium carbonate aside until you are ready to react it with the 1. 0 M hydrochloric acid. Swirl the 1. 0 hydrochloric acid in the ice bath until it reaches 10? C. If your temperature goes below 10? C, take the Erlenmeyer Flask with the hydrochloric acid out of the ice bath and wait for the temperature to go up to 10? C. Record the exact temperature of the hydrochloric acid in the 500 mL Erlenmeyer Flask. Once the temperature of the 1. 0 hydrochloric acid is about 10? C, place the 3. 0 grams of calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. 0 M hydrochloric acid at 10? C and cork it and start the timer.Stop the timer once 15 mL of water is displaced from the water chamber into the 25 mL graduated cylinder. Record the amount of time it took for the water being displaced to reach the 15 mL mark on the 25 mL graduated cylinder. Set up the water displacement apparatus for the next trial. Repeat steps 2-7 4 more times until you have done a total of 5 trials for the rate of the reaction between 1. 0 M hydrochloric acid and calcium carbonate at 10? C. Reaction at 20? C Set up an ice bath by putting ice and water into the glass bowl and set it aside so you can cool the hydrochloric acid later in the experiment.Using a clean 50 mL graduated cylinder, measure out 35 mL of 1. 0 M hydrochloric acid and then place the measured out hydrochloric acid into the 500 mL Erlenmeyer Flask and set the flask with the 1. 0 M hydrochloric acid into the ice bath. Stick the thermometer into the hydrochloric acid and wait until the temperature of the hydrochloric acid drops to about 20? C. While waiting for the temperature of the 1. 0 hydrochloric acid to drop, use the weighing balance to measure out 3. 0 grams of calcium carbonate. First, place a piece of weighing paper on the balance and tare it. After you have tarred the weigh ing paper, measure out the 3. grams of calcium carbonate. Put the calcium carbonate aside until you are ready to react it with the 1. 0 M hydrochloric acid. Swirl the 1. 0 hydrochloric acid in the ice bath until it reaches 20? C. If your temperature goes below 20? C, take the Erlenmeyer Flask with the hydrochloric acid out of the ice bath and wait for the temperature to go up to 20? C. Record the exact temperature of the hydrochloric acid in the 500 mL Erlenmeyer Flask. Once the temperature of the 1. 0 hydrochloric acid is about 20? C, place the 3. 0 grams of calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. 0 M hydrochloric acid at 20?C and cork it and start the timer. Stop the timer once 15 mL of water is displaced from the water chamber into the 25 mL graduated cylinder. Record the amount of time it took for the water being displaced to reach the 15 mL mark on the 25 mL graduated cylinder. Set up the water displacement apparatus for the next trial. Repeat steps 10-15 4 more times until you have done a total of 5 trials for the rate of the reaction between 1. 0 M hydrochloric acid and calcium carbonate at 20? C. Reaction at 30? C Fill up a 400 mL beaker of water and heat it up until boiling on a hot plate. After it starts boiling place the water into the glass bowl.Using a clean 50 mL graduated cylinder, measure out 35 mL of 1. 0 M hydrochloric acid and then place the measured out hydrochloric acid into the 500 mL Erlenmeyer Flask and set the flask with the 1. 0 M hydrochloric acid into the water bath. Stick the thermometer into the hydrochloric acid and wait until the temperature of the hydrochloric acid increases to about 30? C. While waiting for the temperature of the 1. 0 hydrochloric acid to increase, use the weighing balance to measure out 3. 0 grams of calcium carbonate. First, place a piece of weighing paper on the balance and tare it. After you have tared the weighing paper, measure out the 3. grams of calcium carbonate. Put the c alcium carbonate aside until you are ready to react it with the 1. 0 M hydrochloric acid. Swirl the 1. 0 hydrochloric acid in the water bath until it reaches 30? C. If your temperature goes above 30? C, take the Erlenmeyer Flask with the hydrochloric acid out of the water bath and wait for the temperature to go down to 30? C. Record the exact temperature of the hydrochloric acid in the 500 mL Erlenmeyer Flask. Once the temperature of the 1. 0 hydrochloric acid is about 30? C, place the 3. 0 grams of calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. 0 M hydrochloric acid at 30?C and cork it and start the timer. Stop the timer once 15 mL of water is displaced from the water chamber into the 25 mL graduated cylinder. Record the amount of time it took for the water being displaced to reach the 15 mL mark on the 25 mL graduated cylinder. Set up the water displacement apparatus for the next trial. Repeat steps 17-23 4 more times until you have done a total of 5 trials f or the rate of the reaction between 1. 0 M hydrochloric acid and calcium carbonate at 30? C. Reaction at 40? C Fill up a 400 mL beaker of water and heat it up until boiling on a hot plate. After it starts boiling place the water into the glass bowl.Using a clean 50 mL graduated cylinder, measure out 35 mL of 1. 0 M hydrochloric acid and then place the measured out hydrochloric acid into the 500 mL Erlenmeyer Flask and set the flask with the 1. 0 M hydrochloric acid into the water bath. Stick the thermometer into the hydrochloric acid and wait until the temperature of the hydrochloric acid increases to about 40? C. While waiting for the temperature of the 1. 0 hydrochloric acid to increase, use the weighing balance to measure out 3. 0 grams of calcium carbonate. First, place a piece of weighing paper on the balance and tare it. After you have tared the weighing paper, measure out the 3. grams of calcium carbonate. Put the calcium carbonate aside until you are ready to react it with t he 1. 0 M hydrochloric acid. Swirl the 1. 0 hydrochloric acid in the water bath until it reaches 40? C. If your temperature goes above 40? C, take the Erlenmeyer Flask with the hydrochloric acid out of the water bath and wait for the temperature to go down to 40? C. Record the exact temperature of the hydrochloric acid in the 500 mL Erlenmeyer Flask. Once the temperature of the 1. 0 hydrochloric acid is about 40? C, place the 3. 0 grams of calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. 0 M hydrochloric acid at 40?C and cork it and start the timer. Stop the timer once 15 mL of water is displaced from the water chamber into the 25 mL graduated cylinder. Record the amount of time it took for the water being displaced to reach the 15 mL mark on the 25 mL graduated cylinder. Set up the water displacement apparatus for the next trial. Repeat steps 25-31   4 more times until you have done a total of 5 trials for the rate of the reaction between 1. 0 M hydrochloric a cid and calcium carbonate at 40? C. Reaction at 50? C Fill up a 400 mL beaker of water and heat it up until boiling on a hot plate. After it starts boiling place the water into the glass bowl.Using a clean 50 mL graduated cylinder, measure out 35 mL of 1. 0 M hydrochloric acid and then place the measured out hydrochloric acid into the 500 mL Erlenmeyer Flask and set the flask with the 1. 0 M hydrochloric acid into the water bath. Stick the thermometer into the hydrochloric acid and wait until the temperature of the hydrochloric acid increases to about 50? C. While waiting for the temperature of the 1. 0 hydrochloric acid to increase, use the weighing balance to measure out 3. 0 grams of calcium carbonate. First, place a piece of weighing paper on the balance and tare it. After you have tared the weighing paper, measure out the 3. grams of calcium carbonate. Put the calcium carbonate aside until you are ready to react it with the 1. 0 M hydrochloric acid. Swirl the 1. 0 hydrochloric acid in the water bath until it reaches 50? C. If your temperature goes above 50? C, take the Erlenmeyer Flask with the hydrochloric acid out of the water bath and wait for the temperature to go down to 50? C. Record the exact temperature of the hydrochloric acid in the 500 mL Erlenmeyer Flask. Once the temperature of the 1. 0 hydrochloric acid is about 50? C, place the 3. 0 grams of calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. M hydrochloric acid at 50? C and cork it and start the timer. Stop the timer once 15 mL of water is displaced from the water chamber into the 25 mL graduated cylinder. Record the amount of time it took for the water being displaced to reach the 15 mL mark on the 25 mL graduated cylinder. Set up the water displacement apparatus for the next trial. Repeat steps 33-39   4 more times until you have done a total of 5 trials for the rate of the reaction between 1. 0 M hydrochloric acid and calcium carbonate at 50? C. DATA COLLECTING AND PR OCESSING Qualitative Data and Observations: Observations of the Reaction between 1. Hydrochloric Acid and Calcium Carbonate At Varying Temperatures |Temperatures At Which the Reaction Was Held |What Occurred to the Reaction (Observations) | |(Varying Temperatures) | | |10? C |The calcium carbonate did not cause much of a reaction in the chamber, it took a long time | | |for the water to travel up the tubes and reach the 15 mL mark on the graduated cylinder. |20? C |Reacted way quicker than the reaction between the hydrochloric acid and calcium carbonate | | |at 10? C. | |30? C |Reacted quicker than the 20? C, and the water was displaced a lot quicker than in the | | |reaction between the hydrochloric acid and the calcium carbonate at 20? C. | |40?C |The reaction was quicker than the reaction of hydrochloric acid and calcium carbonate at | | |30? C. The water was displaced fairly quickly. | |50? C |Most vigorous of all the reactions performed. The water started traveling up the tube | | |almost instantaneously. | The most vigorous reaction was the reaction that was held at 50? C.From this we can conclude that as the temperature at which a reaction is held is increased the rate of that reaction is increased as well. This leads us to understand that the relationship between the temperature of a reaction and the rate of the reaction are proportionally related. Raw Data: How the Temperature at Which the Reaction between 1. 0 M Hydrochloric Acid and Calcium Carbonate is Held Affects the Time It Takes to Displace 15 mL of Water |Targeted Temperatures |Trial # |Temperature At Which the Reaction Was Held |Time It Took For 15 mL of Water To Be | | | |(?C  ±0. 5) |Displaced | | | | |(seconds  ±. 0. 01) | |10 ? C |1 |10. 7 |94. 2 | | |2 |10. 1 |94. 1 | | |3 |10. 2 |94. | | |4 |10. 5 |94. 6 | | |5 |10. 5 |94. 1 | |20 ? C |1 |20. 4 |52. 4 | | |2 |20. 4 |52. | | |3 |20. 4 |52. 5 | | |4 |20. 3 |52. 1 | | |5 |20. 2 |52. 1 | |30 ? C |1 |30. 2 |22. | | |2 |30. 1 |22. 2 | | | 3 |30. 2 |22. 4 | | |4 |30. 3 |22. 2 | | |5 |30. 4 |22. 2 | |40 ?C |1 |40. 3 |18. 5 | | |2 |40. 6 |18. 2 | | |3 |40. 5 |18. 3 | | |4 |40. 6 |18. 4 | | |5 |40. |18. 4 | |50 ? C |1 |50. 6 |13. 5 | | |2 |50. 5 |13. 7 | | |3 |50. 0 |13. 4 | | |4 |50. 1 |13. | | |5 |50. 2 |13. 4 | Processed Data: Averages of the Temperatures Used in the Reaction between 1. 0 M Hydrochloric Acid and Calcium Carbonate and the Averages of the Time It Took For 15 mL of Water to Be Displaced As a Result of Those Temperatures |Average Temperature (? C) |Average Time it Took for 15 mL of Water to Get Displaced (seconds) | |10. 4 |94. | |20. 3 |52. 3 | |30. 2 |22. 2 | |40. 4 |18. 4 | |50. 3 |13. | This set of data was processed by taking each rate and temperature of one reaction at a specific targeted temperature and finding the averages by adding all the rates up and dividing by the total number rates added and by doing the same with the different temperatures recorded. Average Rates and Standard Deviation for the Reaction between 1. 0 Hydrochloric Acid and Calcium Carbonate at Varying Temperatures |Average Temperatures (? C) |Average Rate (mL/seconds) |Standard Deviation | |10. |0. 16 |0. 23 | |20. 3 |0. 29 |0. 26 | |30. 2 |0. 68 |0. 09 | |40. 4 |0. 82 |0. 11 | |50. 3 |1. 1 |0. 12 | The average rates were found by dividing the amount of water displaced by the amount of time it took to displace it. In this experiment we measured how long it took to displace 15 mL of water, so we divided 15 mL by how ever many seconds it took to displace that amount of water at the various temperatures. The standard deviation was found using Microsoft Excel. From the information in this chart we are able to create a graph displaying how temperature affects the rate of the reaction between 1. M hydrochloric acid and calcium carbonate. Calculations: % Uncertainty For the Rate of the Reaction between 1. 0 M Hydrochloric Acid and Calcium Carbonate To calculate the % uncertainty for the rate of the reaction bet ween 1. 0 M hydrochloric acid and calcium carbonate you have first divide the uncertainty of the 25 mL graduated cylinder used to hold the 15 mL of water that were displaced in the experiment and divide it by the number of mL being displaced. The uncertainty of the 25 mL graduated cylinder is  ±0. 5 mL. So in this experiment you would divide the 0. 5 by 15 and get 0. 03. You take this number and multiply it by 100.Next, you will divide the uncertainty of the stopwatch, which in this experiment is  ±0. 01 seconds by the amount of time it takes to displace the 15 mL of water at a certain temperature. After you get the number from dividing the uncertainty by the amount of time it took to displace the 15 mL water you will multiply it by 100. You will add this number with the number you received from dividing the uncertainty of the 25 mL graduated cylinder and this will constitute you % uncertainty for the rate of the reaction between the 1. 0 M hydrochloric acid and calcium carbonat e. GRAPHS [pic] CONCLUSIONThe purpose of this experiment was to evaluate how the changes in temperature affect the rate of the reaction between 1. 0 M hydrochloric acid and calcium carbonate. The relationship between temperature and the rate of the reaction was found by changing the temperature at which the reaction between the hydrochloric acid and calcium carbonate was held. 5 different temperatures were used in the experiment. The rate of the reaction between the calcium carbonate and the hydrochloric acid was found by timing how long it took for 15 mL of water to get displaced by the carbon dioxide gas produced from the reaction.It was hypothesized that as the temperature at which the reaction between the hydrochloric acid and calcium carbonate was increased then the rate of the reaction would increase as well. This was expected because the collision theory states that if the temperature at which any reaction is held is increased then the rate will certainly increase. The result s suggest that the hypothesis is true, and that if the temperature at which a reaction is held is increased then the rate will be increased as well.The results also suggest that if you decrease the temperature at which a reaction is held, then the rate will decrease as well. As the temperature was decreased from room temperature to about 10? C the rate of the reaction between 1. 0 M hydrochloric acid and the calcium carbonate was averaged to be about 0. 16 mL of water displaced per second. But, as you increased the temperature the rate of the reaction increased. At 20 ? C, the rate was 0. 29 mL of water displaced per second, and at 30 ? C and 40 ? C the rates were 0. 68 and 0. 82 mL of water displaced per second.Finally the highest rate belonged to the reaction that was held at the highest temperature, which in the experiment was 50 ? C. The rate at 50 ? C was about 1. 11 mL of water displaced per second. From the results you are able to interpret that the relationship between tempe rature and the rate of a reaction is proportional. This means that as the the temperature at which a reaction is held is increased then the rate at which the reaction proceeds will increase as well. Some irregularities within the data come from the the rates that were recorded from the reactions held at 10 ?C and 20 ? C. These irregularities were a result from how long it took for the reaction to get going and produce carbon dioxide gas to displace the water. This could affect the way the data is interpreted because the rate of the reaction between the 1. 0 M hydrochloric acid and calcium carbonate at these two temperatures could be recorded incorrectly and the rates might be higher than what was recorded. EVALUATING THE PROCEDURE The first weakness in the experiment would be that the seal of the cork to the 500 mL Erlenmeyer Flask that contained the reaction between the 1. M hydrochloric acid and the calcium carbonate was not a strong seal. Throughout the experiment you could see b ubble being formed on the edge of of where the cork met the Erlenmeyer Flask as a result of weak seal. Because of this weak seal, not all of the carbon dioxide gas that was produced was being used to displace some of the water. This weakness could have gave us rates that were lower than they should have been. To correct this a cork that created a tighter seal could have been used, or the cork could have been pushed down harder to create a tighter seal.The second weakness comes from not starting the stopwatch at the exact time in every trial. This could have been a result from having to work alone. Throughout the experiment I pressed the timer to start the time right after I plugged the 500 mL Erlenmeyer Flask with the cork. The problem with this is that some times I plugged the flask faster than other times. This error could have been fixed by doing the experiment in a group of 2, so that one person could start the time as soon as they see you place the cork on the flask, rather tha n having to do it yourself after you already put the cork on yourself.The third weakness could have came from not having the exact same temperature each time for each different targeted temperature being tested. None of the temperatures were exactly the same, this lead to inconsistent rate readings which were either to high or to low what should have been. This could have been corrected using a temperature probe and getting the exact temperature every time rather than using a thermometer. IMPROVING THE INVESTIGATIONThe first suggestion for improvement is that instead of using the water displacement method to measure the rate of the reaction between hydrochloric acid and calcium carbonate a gas pressure sensor and the LoggerPro system could have been used to measure the rate of the production of the carbon dioxide and indirectly measure the rate of the entire reaction. By using the gas pressure sensor instead of the timer and the water displacement apparatus we could have recorded mo re precise and accurate rates rather than the rates that were recorded from using the water displacement apparatus.The second suggestion for improvement is to use a temperature probe rather than a thermometer to check the temperature at which the reaction between the 1. 0 M hydrochloric acid and calcium carbonate is held. This would allow for a more accurate reading of the temperature rather than using the thermometer and have a greater uncertainty for the temperature. A more accurate temperature reading leads to more accurate rates, that allow us to correctly interpret how the changes in temperature actually affect the rate of the reaction of hydrochloric acid and calcium carbonate.The third suggestion for improvement would be to perform the experiment in a pair. By doing so there would be less errors in the recording of how much time it takes to displace 15 mL of water. This way one person could start and stop the timer while the other person places the calcium carbonate into the 500 mL Erlenmeyer Flask containing the 1. 0 M Hydrochloric Acid at a specific temperature and corks it with the plug. Doing the experiment will lead to more accurate rate readings, that remain consistent throughout the entirety of the experiment. BIBLIOGRAPHY Zumdahl, Steven S. , and Susan A. Zumdahl. Chemistry.Boston: Houghton Mifflin, 2000. Print. Brown, Catrin, and Mike Ford. Chemistry: Standard Level : Developed Specifically for the IB Diploma. Harlow, Essex: Pearson Education, 2008. Print. â€Å"An Introduction to the Collision Theory in Rates of Reaction. † An Introduction to the Collision Theory in Rates of Reaction. N. p. , n. d. Web. 10 Mar. 2013. â€Å"The Haber Process for the Manufacture of Ammonia. † The Haber Process for the Manufacture of Ammonia. N. p. , n. d. Web. 10 Mar. 2013. â€Å"The Effect of Temperature on Rates of Reaction. † The Effect of Temperature on Rates of Reaction. N. p. , n. d. Web. 10 Mar. 2013.

Culture Is Pervasive in All Marketing Activities Essay

It is a widely accepted tenet of marketing that consumers are not homogenous and that their specific tastes, characteristics and desires will influence their response to marketing activities and advertising (Jeannet and Hennessey, 2004; Kotler and Keller, 2006, p. 52). At the same time, it is also accepted that consumers in different cultures tend to have different demographic profiles, lifestyles, values and economic priorities (Yucelt, 2000, p. 59). As a result, it is clear that consumers in different cultures are very likely to have different needs and responses to marketing and advertising. This in turn implies that culture will have a pervasive impact in influencing marketing activities, and businesses will have to take account of cultural factors if they are to successfully advertise to consumers in different cultures. This piece will critically review the extent to which culture is pervasive in all marketing activities; particularly in the creation and implementation of advertising strategies, and the implications for marketing and advertising activity. Culture is pervasive in all marketing activities Not only is this argument supported by the theory, but it has also been strongly supported by the empirical evidence. For example, studies of marketing in the European Union, which is generally seen as a single market, have shown that â€Å"national differences are more important than similarities when marketers are planning to approach the European consumers† (Yucelt, 2000, p. 59). These differences become even stronger in other contexts such as Asia. In particular, the response to television, radio, newspaper and magazine advertising has all been shown to be influenced by cultural factors, and all of these factors can have an influence on the strategies used by companies to market and advertise their products. Given the significant impact of these differences, it is hardly surprising that studies have looked to use cultural frameworks to analyse the impact of culture on marketing, with Hofstede’s (1980, p. 1) cultural values being one of the most widely used concepts. In particular, research by Murphy and Scharl (2007, p. 97) has shown that Hofstede’s dimensions of individualism and masculinity strongly related to how innovative products and the marketing and advertising of said products is received. This finding is specifically applied to the online setting, producing the argument that â€Å"in countries with strong cultural values of masculinity and collectivism, international business managers should consider paying homage to local domain names for web site and email addresses† in order to reach customers in that country more effectively (Murphy and Scharl, 2007, p. 97). This implies that not only is culture an important factor in marketing activities and advertising, but that specific cultural factors can have specific impacts on a given marketing campaign or advertising strategy. These specific impacts can be even more important in the case of multinational corporations and their subsidiaries. In particular, they raise the question of how multinational corporations and their subsidiaries should best market and advertise their offerings across a range of environmental contexts. The question that is often raised in the literature is how best for these companies to achieve their global vision, whilst also paying attention to cultural factors in the target market and remaining responsive to local environmental conditions. According to a study by Boojihawon et al (2007, p. 549) the majority of successful multinational companies tend to strike a balance between these two factors, attempting to create a sound global strategy whilst also using entrepreneurial behaviours and management practices to encourage local cultural responsibility in their subsidiaries and advertising strategies. Despite adhering to a unified theme in order to build a distinctive global brand identity, there were significant variations in how Nintendo launched the â€Å"Nintendo Wii† in 3 westernised yet, culturally different countries (Figure 1). The innovative segmentation, targeting and positioning strategies of Nintendo Wii, and the localised campaigns focusing on the most important attributes of the product in each country/culture, helped to make Wii the success it is today. Figure 1: Comparison of TV advertising launch of Nintendo Wii in USA, Japan & UK (2006) The importance of culture also pervades the development, management and advertising of a company or product’s brand image. Managing brand images in global markets is a major concern for businesses, who wish to avoid embarrassing incidents where their brand image turns out to be inappropriate or offensive in some cultural contexts. Wonderbra is only too aware of this (www. adsoftheworld. com). Every magazine that enters the United Arab Emirates is censored using black markers. Before Wonderbra launched into the UAE, they issued a strategic tongue-in-cheek press release depicting a woman wearing a blacked-out Wonderbra. They deliberately added large amounts of â€Å"marker† to the ad to cheekily communicate the increase in size when a lady wears their product. However, their advertising strategy backfired when the UAE advertising authorities blacked out the rest of the â€Å"naked skin† leaving only the face visible, thus totally diminishing any intended marketing message. Indeed, Roth’s (1995, p. 163) use of Hofstede’s (1980, p. ) dimensions indicates that both the power distance and individualism dimensions have strong impacts on the interpretation of sensory and novelty based brand image strategies. In other words, these two dimensions strongly impact on consumer responses to brand advertising strategies that are based on sensory stimuli and novelty value. This implies that managers marketing brands internationally and across different cultural contexts need to be aware of how their brands and advertising will be interpreted in these contexts, in order to maximise their marketing and advertising effectiveness. The impact of cultural factors can even be seen in the case of word of mouth advertising strategies, and customer referral programs. In particular, in recent years the role of cultural factors and cultural differences in the use of word of mouth as an advertising tool has become of increased importance. Whilst positive word of mouth tends to have a positive effect on customer service quality perceptions in all cultural environments, Schumann et al (2010, p. 8) showed that received word of mouth â€Å"has a stronger effect on the evaluation of customers in high uncertainty avoidance than in low uncertainty avoidance cultures†. This implies that even if companies are not engaging in direct advertising campaigns in a cross-cultural context, they still need to be aware of the impact that cultural factors can have on their general marketing and any word of mouth advertising or referral marketing strategies, and match these strategies to the target culture’s uncertainty avoidance level. â€Å"One World Culture† However, it is important to note that whilst national cultural factors and differences have a strong impact on the marketing and advertising of products in the contemporary environment, the increasing globalisation of the world economy is also having a strong impact on the cultural characteristics of people around the world. As global capitalism and communications become more advanced, so consumers around the world are becoming used to similar styles of marketing and advertising. This is acting to dissolve some of the cultural boundaries of advertising, and in ome areas creating a homogeneous global consumer culture (Cleveland and LaRoche, 2007, p. 249). Whilst this trend is still not dominant, and many individuals continue to define themselves by their cultural environment and heritage, there is a growing degree of variance in the extent to which other individuals do identify with these norms. In particular, younger people are increasingly defining themselves as global consumers and individuals, and hence feeling a greater affinity to the global community, with a lesser degree of attachment to their local and national cultures. This implies that not only do managers need to be aware of the different cultures that pervade the markets in which they operate, but they also need to be aware of the potential impact of this global culture on consumer responses to advertising and marketing strategies. Indeed, whilst the growth of this global consumer is a relatively new concept in marketing, it should be noted that globalisation has long been accepted as creating â€Å"global consumer segments that associate similar meanings with certain places, people, and things† (Duncan and Ramaprasad, 1995, p. 5). To date, these segments have largely been limited to specific consumer products and brands, such as Apple, Nike and Coca Cola. However, as these segments have grown, so they have also helped drive the emergence of global consumer cultures, and the growth of shared sets of consumption related symbols. These symbols are often brands, but can also be product categories, or even consumption activity. In 2009, Guinness launched their first ever global advertising campaign for â€Å"Arthur’s Day† (Figure 2). It was a â€Å"groundbreaking consumer promotion promoting annual ‘Arthur’s Day’ events on 24th September, being held around the world in cities including Dublin, New York, Lagos and Kuala Lumpur† (Saatchi & Saatchi EMEA, 2009). Guinness wants their global consumers to celebrate the consumption activity of drinking Guinness on the same day of the year, worldwide; thus trying to influence global culture and consumer behaviour. Figure 2: Arthur’s Day â€Å"Toast†, Jakarta, 2010 With the continuous growth of mass media, and the dominance of this media by a few large economies and cultures such as the United States (Walker, 1996, p. 42), these symbols have become ever more significant, and their impact on global culture has become ever more pronounced. This implies that marketers and advertisers need to be aware of the specific influence of culture across different product categories, and the potential cultural impacts of entering or leaving one of these categories. The growth of these shared meanings also has implications of marketing managers, who often find themselves competing in an increasingly competitive global marketplace, where competitors can come from a range of backgrounds, economies and cultures (Aaker, 1991, p. 46). As a result, marketers may need to develop new strategies for coping with the widespread changes in culture, particularly when the global culture changes in a way that is not conducive to their existing marketing strategies. According to Alden et al (1999, p. 75) such changes will require companies to adopt a strategy of â€Å"global consumer culture positioning†, whereby businesses not only position themselves in domestic markets and foreign markets, but also position themselves in the global market. This will obviously complicate marketing activities in the short term, with marketers forcing to tailor their advertising strategies to three distinct market segments, all of which may respond to brand messages and advertising in different ways. However, in the long term, marketers are likely to benefit from following such a strategy, as their positioning will be better able to move with shifts in the global market, and the various local markets in which they operate. As such, it can be seen that the impact of culture on contemporary marketing and advertising will not be static, but will rather be ever changing and hence will require marketers to anticipate and react to changes in the global cultural makeup. The potential for such changes to occur can be seen in a recent study of the use of soft sell advertising and hard sell advertising across different markets. According to most theoretical work on advertising and the prediction of global consumer culture theories, soft sell advertising should be more uniformly accepted across markets, whilst hard sell advertising should struggle in some cultural contexts such as the Far East, where confrontations are not culturally acceptable. However, the results of Okazaki’s (2010, p. 0) study into the use of soft selling and hard selling in the United States and Japan produced quite surprising results: â€Å"The results indicate somewhat more homogeneous acceptance of soft-sell appeals but, surprisingly, also show relatively homogeneous acceptance of hard-sell appeals across markets. These findings are suggestive of both types of appeals having the potential to be used as part of a GCCP across the United States and Japan and perhaps other markets† (Okazaki, 2010, p. 20). This implies that even two culturally dissimilar nations such as the US and Japan have developed similar responses to certain types of advertising. As such, marketers who had not kept abreast of these cultural and market developments could have found themselves left behind and unable to compete as the market moved on and left them behind. Conclusions In conclusion, it is clear that culture is pervasive in all marketing activities, and particularly in the case of advertising strategies. Not only does culture impact on how advertising and marketing is perceived in different countries and cultures, but it can also in turn be influenced by advertising and marketing strategies. In addition to this, the globalisation of marketing, advertising and business is causing the emergence of a global culture, which requires its own unique form of marketing and advertising. These different cultures are not remaining static, but are increasingly changing and developing over time, forcing advertisers to constantly renew and re-evaluate their advertising strategies. As such, the main impact on culture on marketing activities is that it prevents them from becoming static and consistent, and forces regular reviews and updates to ensure that the activities remain culturally relevant.

International Business Law Research Proposal Example | Topics and Well Written Essays - 1500 words

International Business Law - Research Proposal Example Some of the most common means under the present state of international business law are as follows: 1. Direct foreign sales - This is the present strategy of Hampstead, which is to sell directly to a foreign buyer (exportation). This option may not be applicable because our Company seems to have decided to set up a plant outside UK. 2. Licenses and franchises - This is typically accomplished by a licensing agreement. A license permits the licensee to exploit the subject matter of the license for a specified purpose and for a specified time. This option may not be applicable to our company the facts fails to indicate possibility. 3. Distributorships - In here, there is an agreement to market our company's products through the sales efforts of a foreign-based distributor. Under this arrangement, a distributor is free to develop the target market in any manner in which it sees fit; i.e., it is free to buy and sell for its own account, maintain inventories, and sell at prices it sets. In addition, foreign distributors sometimes receive added protection under local law. Another advantage is that a distributor may limit the supplier's (Hampstead, in this case) exposure to local tax and labor laws. The option seems to be one of our options with our plan in transporting the cars from UK to Mexico and just have a company based in Mexico to distribute our products. 4. Direct foreign investment - A domestic company may conduct international business through a subsidiary located in the foreign country. We know for a fact that a subsidiary corporation, typically, is one whose shares (typically, a majority of the voting shares, i.e., >50%) representing control of the corporation are owned by another corporation (the parent)." This option is also one that is currently considered by board. Hence, I like to point out that there is suggestion for having a wholly owned subsidiary to be controlled by our U.K. head office. Hence, this option may not allow it. However, we have the next option. 5. Branches - A branch is not a separate entity but is an extension of the domestic (e.g., U.S.) enterprise (e.g., corporation) in a host (i.e., foreign) country. It is also a practice that the enterprise might establish an operational spot in a host country, which requires direct investment in, for example, the following: 1) A research and experimental facility 2) A manufacturing plant for local sales and/or export 3) An operation that establishes a market and sales for its products and/or those of other enterprises It also mentioned the following relevant factors to operating in a host country using a branch: 1) A branch allows unqualified control as compared to operations by a subsidiary. 2) The form of a separate legal entity is not present to limit contractual or tort liability. 3) Risks of loss due to changes in host country governments are like as those associated with direct investment. This option seems to be applicable, if our Company will desire to have a 100-percent control of the decision-making. However, I have still a last option in the next. 6. A joint venture - Although a joint venture is usually thought of as a partnership, it may be engaged in by means of a corporation or other organizational form. With all due respect, may I be allowed to present to you the above options' Now if you will just allow me to

Price Competition between online retailers and High St shops Essay

Price Competition between online retailers and High St shops - Essay Example ive stores went up by 18 percent while those that practiced online sales along with convectional shop keeping experienced 2 percent decline in growth (Passingham 2013). In spite of the increase in demand for online transactions, the amounts customers have to pay for the products keep dropping; the mean value at the checkout is estimated to have reduced by over 10% since 2011. This is evidence that the online customers are using the convenience of online stores to shop for deals. Online shops have a competitive edge in that they can afford to sell their goods for considerably less than their high street counterparts do (Kelsey 2013). The latter have to account for the cost of; lease, security, staffing and myriad other costs of doing business and the higher overheads ultimately weigh in on their competitive advantage. For online stores, there is the added convenience of transcending geographical boarders; a clothing shop in London will be mostly out of bounds for customers living far from the city but the online one is open to anyone anywhere. This way, the customer base for online stores is significantly larger than that of high street ones (Kelsey, 2013). Firm’s like ASOS, which deals in both men and women’s clothes, have capitalized on the online marketing sector. Today, it is one of the most profitable clothing stores in the UK because of its online presence, which allows it to cater for the needs of next generations shoppers. Many of these are used to getting everything online and as a result, ASOS provides an opportunity for them to easily and conveniently access fashion accessories. They also provide services, which allow customers to â€Å"try on† the clothes online virtually which makes them even less likely to go for a high-end street shop. High street stores on the other hand have also upped their efforts to remain competitive in the quickly digitalizing market, one of the main methods applied is the opening of websites and online stores so they

Psychotherapy for Immigrants and Refugees Term Paper

Psychotherapy for Immigrants and Refugees - Term Paper Example Social workers and psychotherapists have a duty to respond to the needs of each of these immigrants and refugees in order to lessen their burden. Social training skills and psychotherapy support go a long way in ensuring that this group of people have an easy transition from the lives that they are used to their adopted lives (Pumariega, Rothe and Pumariega, 2005). One of the major challenges that face psychotherapy for the immigrants and psychotherapists is communication problems. In the US, many of the refugees who come to the country hardly ever know English, making communication a daunting task (Balgopal, 2000). This lack of clear communication between the psychotherapists and the immigrants makes it hard for the professional counselors to help the immigrants cope with their new life. Without proper communication channels, it becomes hard to understand the needs, fears and expectations of the immigrants. However in some instances, there are some immigrants who and understand mult iple languages, including the language spoken in the host country. This makes it possible for the psychotherapists to have them as translators. Although this is better than not communicating at all, it has its limitations. The translator may not put the message across as it is supposed to be, hence meaning might be lost between the psychotherapist and the immigrant that he is supposed to be helping (Fong, 2004). Another challenge that immigrants, refugees and psychotherapists normally face is the problem of cultural differences. Concepts of psychotherapy for immigrants and refugees emphasizes on the importance of understanding the various cultures involved (Ryan, 1992). However, doing so is not very easy as most people are inclined to think in terms of their own cultures and in total disregard of the other person’s culture. In many cases psychotherapists do not have any idea of how to deal with all the different cultures that they face in their line of work. The immigrants th emselves are also mostly adamant to let go of their worldview in support of another new one. The ensuing conflict that results form cultural misunderstandings may impact negatively on the work of social psychotherapists (Corey, 2009). The psychotherapy process for the immigrant might seem like a very long and time consuming activity, and this impacts negatively on what the psychotherapists are trying to achieve. Many immigrants and refugees normally flee from their own countries of origin to new ones in search of a better life (Chang-Muy and Congress, 2009). If anything comes between them and the attainment of their new status, they are bound to consider it a waste of time. Acculturation and integration are hardly some the things that come top on the immigrants’ priority lists. Getting them to understand the importance of psychotherapy to help them fit in may be difficult and some of them might even resist any attempt to help them adopt smoothly into their new lives (Pumarieg a, Rothe and Pumariega, 2005). Psychotherapists need to be given enough training before dealing with immigrants and refugees. They should be trained on cross-cultural communication and acceptance as it plays a big role in how successful any psychotherapy process is. There is need for the development of psychotherapy and counseling techniques that should focus on skills that are influential to the integration, assimilation and acculturation of immigrants and refugees (Pumariega, Rothe and Pumariega, 2005). Training programs for counselors should include skill development for the incorporation of the family and/or the

History of technology Essay Example | Topics and Well Written Essays - 1000 words

History of technology - Essay Example A small hand held device with more than thousand songs and videos that can be carried around anywhere in the pocket. An amazing piece of technology devised for all music lovers transcending age barriers. The portable media player has met with huge success in the market in the last 5 years since its launch in 2001. The product has sparked massive interest in the age group of 15-35 initiating a revolution in the music industry. The small palm sized device can store more than thousand songs, videos, and photographs along with movies and television shows that can be downloaded to watch in leisure. Besides these the device is also used to play games, store audio versions of books and free podcasts. The device has in built security options with 20hrs of battery life and 80GB of storage capacity (Levitas and Prete 3). The main brands of these technologies are Apple's I-Pod and Microsoft Zune. Apple comments this innovation as: "It's hard to say exactly which moment it was that we realized the iPod had taken over our entire civilization. But it might have been this one: The day we first heard, last summer, that baseball players were using their iPods to do their pregame video studies - as opposed to, say, their pregame Shakira video studies. What we have here, friends, is one of history's most amazing gizmos ever." [Jan 31, 2007] - Jayson Stark writes for ESPN The first company which sold portable multimedia players was Archos. The product appeared on the market in 2002 year, and since that time was improved by Apple and Microsoft. The data of portable multimedia players are stored at hard-drives, on flesh memory or microdirves. Consumers of almost all ages have shown preference to the portable multimedia players. The new era sees the consumers switching from the conventional CDs to digital music. The product awareness campaigns have registered in the consumer minds when they make the purchase decision. Consumers are not at all hesitant in paying the price for the ipod since they trust the brand. But not all consumers feel the same way - a segment of consumers will also refrain from making the purchase of the portable multimedia players. The reason being they do not want to pay so much to own the portable multimedia player (Field 65). The uniqueness of this device is that it can play digital video and audio files. Many devices have FM tuners or a line out cable. The ipod allows the users to store and watch movies - but the size of the screen does not appeal the consumers much. These are some of the concerns raised by the consumers across. What we need to understand is that when the consumer is willing to pay such a high price for the portable multimedia player their expectations from the product and the company naturally is high too. They expect their portable multimedia player to be the best and long lasting with all the advanced features and more (McCrea 57). Moreover, the consumer is easily bored and is continually looking for more features. A portable multimedia player has so far been highly successful in registering their image in the minds of the masses. But what we need to assess further is our strategy to uphold this image for a long time in future. We need to focus on the following areas to strengthen our market segment: Portable multimedia

HRD276 Essay Example | Topics and Well Written Essays - 250 words - 1

HRD276 - Essay Example Thus, it does more good to the employers if employees have rest for them to become highly productive. It is also important to consider that allowing employees to have a balance work with leisure makes them happy with their work. It is important to keep employees happy with their work for them to stay with the employers. If employees will leave, it will be costly for the employers to find replacement and to train a new employee. I believe that is the responsibility of the organization to provide the balance between paid labor and unpaid labor. I would leave the organization responisible because the organization needs the worker and it would cost the employer twice as much to replace them as it would to keep them and provide them the requested time off. If an employee needs a few less hours or a few less days why would it be such a big deal to give them those days off if you know this employee and you know they are not going to leave you. I believe that being a good employee should show a small type of soft side in your employers and allow you the time you need off. I know through work experience that has been done for me. I work over the summers and winters back at home at my high school. And now for my employers have trusted me with their time, familys, and also personal belongings. I believe that these employers would allow me to plan or do work for them and they can count on me to get it done. And also i f I ever needed anything I could count on them to help me out. Employees are not machines. We get tired and also needs to rest and have some leisure. When we are well rest and had recreation, we become more effective with our jobs and this is beneficial for the company. In addition, we also get attached with the company because we feel that they are taking good care of its employees. As a result, we stay with the company and the attrition rate of the company is low saving them the cost of hiring new

A Vanished World Essay Example | Topics and Well Written Essays - 2500 words

A Vanished World - Essay Example Visigoths had swept over the old Roman Hispania in the fifth century and similarly Islamic Arabs led by Tarriq stormed over Iberian Peninsula just as Carthaginians conquered centuries earlier. The Christian kingdom of Visigoth’s fall was dramatic, swift and complete that it appeared no reversal could be brought about for several centuries later. Conquest of Spain by Muslims started in July 710 when Tariq ibn Ziyad, the governor of Tangier was deputed by the Governor of the whole Maghrib (presently Morocco, Algeria and Tunisia) to invade the Christianized Visigoth kingdom ruled by the Visigoth king Rodrigo (Roderic) whose forces were defeated at the Battle of Barbate (Wadi Lago) on 19 July 1971. Visigoth lost to Tariq forces because of their loosely administered kingdom. King Rodrigo who had clashed with Basques rushed to Cordoba where he kept his army in the waiting to oppose Tariq’s forces. Tariq chose to wait at Algeciras instead and by then strength of his army incre ased to 12,000 men. While the war was on, Witza’s sons Sisbert and Oppa who had been commanding Visigoth’s army abandoned the king owing to some secret arrangement with the enemy and allowed themselves to be routed. King Rodrigo disappeared and only his white horse and a golden saddle were found by the victors. Tariq’s original intention was only to reconnoiter but he could easily take over the kingdom. Surviving Christians attributed the fall of Visigothic kingdom due to the vices of Witiza or Rodrigo. Still others felt that the fall of Spain to Muslim rulers was a divine punishment for the sins committed by Visigoths. The last thirty years of Visigothic Empire had been characterized by warring factions. As there was no hereditary monarchy, the kingdom had been subjected to constant conspiracy and civil war. At the time of Tariq’s invasions, Visigoth king had not cared to settle the consequences of rivalries within the kingdom at the time of Tariqâ€℠¢s invasion. Visigoths had not cared to secure control of ports and adjacent regions. It emerges therefore that minority Muslims could take over majority Visigoths (Christians) dominated Spain by their sheer brilliance and because of the inefficient administration and preoccupation in worldly pleasures by the Christians (O'Callaghan),(Lowney 29-42). Christian Martyrdoms Christian martyrdom began with the beheading of Euologius who was a martyr activist. He denounced Islam and harbored a Muslim apostate in 859. Islamic culture flourished in Cordoba and some Cordoban Christians violently reacted to the situation. Eulogius and his co-activists wanted to awaken the conscience of their fellow Christians who were attracted to Islam. Lowney draws a parallel to the present situation of Muslims embracing martyrdom against Christians. Isaac, a Christian scholar who was mediating between majority Christians and minority Muslims and in a prestigious Government job for tax collections suddenly r esigned for unknown reasons and pursued Christianity more vigorously. In that connection, in 851 he deliberately blasphemed

Contemporary business issueSub Prime letting050808 Essay

Contemporary business issueSub Prime letting050808 - Essay Example The Fed comes out with the monetary policy in order to ensure a certain key objectives like, delivering price stability with a low inflation level coupled with an objective to support the Government's economic objectives of growth and employment. To have a look on how the Fed monitors the price related regulations to keep a check on inflation, we can consider a small example of the regulation on house and property prices. To take any decisions related to interest rates keeping in mind the ongoing inflation rate, the Fed must be thorough with the booming property prices and must take steps to ensure that the prices are not artificial. Government intervenes through its central bank to regulate the prices of many commodities, similarly it also regulates the prices of houses like any other important commodity. Fed has the responsibility to keep a check on asset prices including the prices of houses. There can be a number of reasons why the prices of houses may shoot up, like the simple rule of demand and supply has a definite impact. (Demand and Supply for Housing). Other reasons behind a... (Demand and Supply for Housing).Other reasons behind a change in property prices can be Mortgages. A mortgage is the money borrowed to buy a house, as for most people buying a house is not easy. Over the years mortgage market has picked up greatly and the current scenario is totally different from the one that existed in the beginning. (The UK Housing Market - Factors Influencing the Housing Market: Mortgages) The central bank of any country has a monetary policy and it uses the same to regulate mechanism of the economy and deal with such erratic swings in the prices of property. Like when it decides to change the interest rate, the government is trying to check the overall expenditure of the economy. A change in interest rates is mostly used to contain inflation, which is the result of lavish expenditure by the country. The Bank sets a fixed interest rate at which it lends money to financial institutions and depending on this interest rate, individual banks and other financial institutions set up their own interest rates, which apply to the whole economy. This interest rate also regulated the savings in an economy, which eventually results in capital formation and reinvestment. It is notable that when interest rates are high, people prefer to invest money in government deposits that are less risky in nature than the stock markets and similarly high interest rates boost up the savings. Lo wer interest rates make asset and real estate prices go up, as people start ignoring conventional saving instruments and make use of the high growth ventures like shares and houses, which pushes up their prices and this is where the problem of easy availability of finance crops up.The sub prime crisis started with the sub prime

Assignment 6 Coursework Example | Topics and Well Written Essays - 250 words

Assignment 6 - Coursework Example Thus, Americans need a good understanding of Islamic religion and culture in order to operate effectively in such regions. 2. 6- A) Guanxi refers to relationship networks supported by reciprocation known as connections. On the other hand, guanxiwang is referred to as â€Å"relationship network.† These are very important in business since they help to create a network that can help sustain a business. In other words, it helps build long term relationship or bond between the business and its targeted consumers (Ridley, 254). B) The experience of DMG tells us that connections that emanate from what is known as guanxi determine the way things work in China. The connections spell the relationships that exist but the case of Dan Mintz shows that he found a way around them to get things done. This strategy may be helpful in creating new connections especially by going over the existing relations in order to create new connections. C) The ethical issues that are likely to arise when drawing upon guanxiwang to get things done in China involve elements of truthfulness and honest when conducting business. More emphasis is put on personal relationships. However, there are some limits of using guanxiwang for a Western business committed to high ethical standards given that focus is on relationships while western cultures stress the importance of

New Government Accounting Systems Essay Example for Free

New Government Accounting Systems Essay Dont snoop. Not only does going through your roommates belongings violate their privacy, but it can also destroy the trust between the two of you if they find out. Have a place to put your own mail, personal photos and other items that you dont want your roommate going through to avoid conflict over privacy issues. Personal Items According to Huffington Post, borrowing personal items is a main cause for tension between roommates. Refrain from borrowing anything without your roommates permission, and dont allow your guests to touch or borrow anything of theirs, either. If you do obtain permission, return the item promptly and in the same condition that you borrowed it. If you break it or damage it, replace it. Noise Levels Peace and quiet at home is important whether you are a college student or a working professional. It can be difficult to concentrate in an environment that is constantly loud and boisterous. Agree on set quiet times in your household and respect them. Respect Always respect your roommate. If they arent somebody that you already know well, take the time to get acquainted with them. Your roommate may or may not be your friend, says Huffington Post, but he or she will be your business partner. Treat that person with tact and consideration at all times. Finances As business partners and house mates, it is important to be up-front with your roommate about finances. If something happens and you are unable to make the rent, let them know. Your financial health can directly impact their living situation. Consider having the rent automatically debited from the account to prevent any mishaps and split all bills in half. Work with your roommate to set up a financial plan in advance to avoid problems from occurring that may jeopardize your living situation. Socializing If you are the type of person to have a lot of company or indulge in social drinking or smoking at home and your roommate is not, this can be a source of contention between the two of you. Discuss this issue in advance. Set some ground rules for social visits, parties and such and follow them.

Economic Systems Essay Example for Free

Economic Systems Essay Socialism Socialism is an economic system where all the economic decisions are made by the government or a central authority. There will be no private property rights since the government officially owns all resources. It is also known as a command economy or a planned system. Socialist economics refers to the economic theories, practices, and norms of hypothetical and existing socialist economic systems. A socialist economy is based on some form of social ownership, which includes varieties of public ownership and independent cooperatives, over the means of production, wherein production is carried out to directly produce use-value sometimes, but not always, coordinated through economic planning and a system of accounting based on calculation-in-kind or a direct measure of labor-time. The term socialist economics may also be applied to analysis of former and existing economic systems that call themselves socialist, such as the works of Hungarian economist Jà ¡nos Kornai. Socialist economics has been associated with different schools of economic thought, most notably Marxian economics, institutional economics, evolutionary economics and neoclassical economics. Early socialism, like Ricardian socialism, was based on classical economics. During the 20th century, proposals and models for planned economies and market socialism were based heavily on neoclassical economics or a synthesis of neoclassical economics with Marxian or institutional economics. look more:  what is the basic economic problem essay Characteristics 1 Public ownership of resources All the resources are owned and operated by the state or the government in the interest of society as a whole. This is to ensure equal opportunity of all citizens regardless of their income. Public ownership also aims to fully utilize the country’s resources. 2 Central planning authority The central authority is responsible for making economic decisions for society. The authority plans and allocates resources between current consumption and investment for the future. 3 Price mechanism of lesser importance Socialism gives less importance to market forces. Prices are fixed by the government and not determined by demand and supply. Private profits are not allowed and public interest is emphasized in the command economy. 4 Central control and ownership A socialist economy is a fully planned economy where the government intervenes in all aspects of economic activity. The government controls production, consumption, and the distribution of goods and services. Merits of Socialism 1 Production according to basic needs Production in a socialist economy is mainly directed at producing the basic needs of the people such as food, clothing and building materials. It is not determined by the purchasing power of the rich in society. The phenomenon of the rich getting richer and the poor getting poorer does not exist in the socialist economy. 2 Equal distribution of income and wealth There is no difference between the rich and the poor. This system provides equal opportunity for all citizens in earning an income. Wealth is also equally distributed since private enterprise is limited 3 Better allocation of resourses Under the socialist system, the planning authority will allocate resources between current consumption and future investment. 4 No serious unemployment or recession/ inflation The unemployment rate and inflation are usually taken care of by the government to ensure economic stability in the country. 5 Rapid economic development In a socialism system, the economy grows faster. The main factors responsible for the rapic economic growth are the full utilization of resources, planning and quick decisions. 6 Social welfare The government will provide all citizens of the country with full social security benefits such as pension, accident benefits and others. Since the government is concerned, labour dispute and wastage of resources do not exist in a socialism system. Economic Decisions in a Socialistic System What to produce In Socialism, planning authorities decide what to produce. The Central Planning Authority will collect detailed statistics on the resource availability in the country and link it with national priorities. If the planning authority has a choice of producing computers using more labour or more machinery. How to produce The Central Planning Authority also decided on the techniques to be used in the production of different goods and services. The choice is between traditional and modern technique of production. For example, the planning authority has a choice of producing computers using more labour or more machinery. For whom to produce The distribution of the national product is decided by the Central Planning Authority. The distribution of various commodities among citizens is done through a set of administred fixwd processes. Necessity goods are fixed at lower prices, and luxury goods at higher prices. The purpose of these fixed prices is to reduce inequalities in the distribution of income. Demerits of Socialism 1 Lacks of incentives and initative by individuals Individuals have no profit motive. This will lead to economic inefficiency since jobs are provided by the government and individuals are not motivated to work harder. 2 Loss of economic freedom and consumer sovereignty Under a socialist economy, the central planning authority or the government directs all economic activity. There is no choice given to the consumer and they accept whatever public enterprise produce. There is little variety in the goods and services produced and availability is restricted. Limited private organizations exist in a socialist economy. 3 Absence of competition Since there are limited private enterprises, less research and development (RD) activities are carried out. This results in low quality products since there is no competition. Socialist economies in theory Robin Hahnel and Michael Albert identify five economic models within the rubric of socialist economics * Public Enterprise Centrally Planned Economy in which all property is owned by the State and all key economic decisions are made centrally by the State, the former Soviet Union. * Public Enterprise State-Managed Market Economy, one form of market socialism which attempts to use the price mechanism to increase economic efficiency, while all decisive productive assets remain in the ownership of the state, e.g. socialist market economy in China after reform. * A mixed economy, where public and private ownership are mixed, and where industrial planning is ultimately subordinate to market allocation, the model generally adopted by social democrats e.g. in twentieth century Sweden. * Public Enterprise Employee Managed Market Economies, another form of market socialism in which publicly owned, employee-managed production units engage in free market exchange of goods and services with one another as well as with final consumers, e.g. mid twentieth century Yugoslavia, Two more theoretical models are Prabhat Ranjan Sarkars Progressive Utilization Theory and Economic democracy. * Public Enterprise Participatory Planning, an economy featuring social ownership of the means of production with allocation based on an integration of decentralized democratic planning, e.g. stateless communism, libertarian socialism. An incipient historical forebear is that of Catalonia during the Spanish revolution. More developed theoretical models include those of Karl Polanyi, Participatory Economics and the negotiated coordination model of Pat Devine, as well as in Cornelius Castoriadiss pamphlet Workers Councils and the Economics of a Self-Managed Society. Additionally, Jà ¡nos Kornai identifies five distinct classifications for socialism: * Classical / Marxist conception, where socialism is a stage of economic development in which wage labour, private property in the means of production and monetary relations have been made redundant through the development of the productive forces, so that capital accumulation has been superseded by economic planning. Economic planning in this definition means conscious allocation of economic inputs and the means of production by the associated producers to directly maximise use-values as opposed to exchange-values, in contrast to the anarchy of production of capitalism. * Walrasian / Market Socialist which defines socialism as public-ownership or cooperative-enterprises in a market economy, with prices for producer goods set through a trial-and-error method by a central planning board. In this view, socialism is defined in terms of de jure public property rights over major enterprises. * Leninist conception, which includes a form of political organisation based on control of the means of production and government by a single political party apparatus that claims to act in the interest of the working class, and an ideology hostile toward markets and political dissent, with coordination of economic activity through centralised economic planning (a command economy). * Social Democratic concept, based on the capitalist mode of production, which defines socialism as a set of values rather than a specific type of social and economic organisation. It includes unconditional support for parliamentary democracy, gradual and reformist attempts to establish socialism, and support for socially progressive causes. Social democrats are not opposed to the market or private property; instead they try to ameliorate the effects of capitalism through a welfare state, which relies on the market as the fundamental coordinating entity in the economy and a degree of public ownership/public provision of public goods in an economy otherwise dominated by private enterprise. * East Asian model, or socialist market economy, based on a largely free-market, capital accumulation for profit and substantial private ownership along with state-ownership of strategic industries monopolised by a single political party. Jà ¡nos Kornai ultimately leaves the classification of this model (as either socialist or capitalist) to the reader.[16] What are the disadvantages and advantages of socialism? Advantages of Socialism * In environments with plentiful resources, socialism provides all members with their survival needs, creating a stable social environment. * Members that cannot participate economically due to disabilities, age, or periods of poor health can still impart wisdom, emotional support and continuity of experience to the system. * Freedom from work provides opportunity for some societal members to explore non-economically-productive pursuits, such as pure science, math and non-popular arts. Disadvantages of Socialism * Since there is no culling and no economic advantage to working harder, socialistic systems provide no inherent incentive to participate. This makes socialism internally unstable. * Due to a lack of incentives, socialistic systems tend not to be competitive, making them externally unstable. * In times of plenty, immigrants are drawn to the free resources offered by socialistic systems, while potentially adding nothing economically productive. * In times of scarcity, resentment of non-economically-productive members of society increases, causing a destabilizing effect on the society and economy History of socialist economic thought Values of socialism have roots in pre-capitalist institutions such as the religious communes, reciprocal obligations, and communal charity of Mediaeval Europe, the development of its economic theory primarily reflects and responds to the monumental changes brought about by the dissolution of feudalism and the emergence of specifically capitalist social relations. As such it is commonly regarded as a movement belonging to the modern era. Many socialists have considered their advocacy as the preservation and extension of the radical humanist ideas expressed in Enlightenment doctrine such as Jean-Jacques Rousseaus Discourse on Inequality, Wilhelm von Humboldts Limits of State Action, or Immanuel Kants insistent defense of the French Revolution. Capitalism appeared in mature form as a result of the problems raised when an industrial factory system requiring long-term investment and entailing corresponding risks was introduced into an internationalized commercial (mercantilist) framework. Historically speaking, the most pressing needs of this new system were an assured supply of the elements of industry – land, elaborate machinery, and labour – and these imperatives led to the commodification of these elements. According to influential socialist economic historian Karl Polanyis classic account, the forceful transformation of land, money and especially labour into commodities to be allocated by an autonomous market mechanism was an alien and inhuman rupture of the pre-existing social fabric. Marx had viewed the process in a similar light, referring to it as part of the process of primitive accumulation whereby enough initial capital is amassed to begin capitalist production. The dislocation that Polyani and others describe, triggered natural counter-movements in efforts to re-embed the economy in society. These counter-movements, that included, for example, the Luddite rebellions, are the incipient socialist movements. Over time such movements gave birth to or acquired an array of intellectual defenders who attempted to develop their ideas in theory. As Polanyi noted, these counter-movements were mostly reactive and therefore not full-fledged socialist movements. Some demands went no further than a wish to mitigate the capitalist markets worst effects. Later, a full socialist program developed, arguing for systemic transformation. Its theorists believed that even if markets and private property could be tamed so as not to be excessively exploitative, or crises could be effectively mitigated, capitalist social relations would remain significantly unjust and anti-democratic, suppressing universal human needs for fulfilling, empowering and creative work, diversity and solidarity. Within this context socialism has undergone four periods: the first in the 19th century was a period of utopian visions (1780s-1850s); then occurred the rise of revolutionary socialist and Communist movements in the 19th century as the primary opposition to the rise of corporations and industrialization (1830–1916); the polarisation of socialism around the question of the Soviet Union, and adoption of socialist or social democratic policies in response (1916–1989) and the response of socialism in the neo-liberal era (1990- ). As socialism developed, so did the socialist system of economics. Utopian socialism The first theories which came to hold the term socialism began to be formulated in the late 18th century, and were termed socialism early in the 19th century. The central beliefs of the socialism of this period rested on the exploitation of those who labored by those who owned capital or rented land and housing. The abject misery, poverty and disease to which laboring classes seemed destined was the inspiration for a series of schools of thought which argued that life under a class of masters, or capitalists as they were then becoming to be called, would consist of working classes being driven down to subsistence wages. Socialist ideas found expression in utopian movements, which often formed agricultural communes aimed at being self-sufficient on the land. These included many religious movements, such as the Shakers in America. Utopian socialism had little to offer in terms of a systematic theory of economic phenomena. In theory, economic problems were dissolved by a utopian society which had transcended material scarcity. In practice, small communities with a common spirit could sometimes resolve allocation problems. Socialism and classical political economy The first organized theories of socialist economics were significantly impacted by classical economic theory, including elements in Adam Smith, Robert Malthus and David Ricardo. In Smith there is a conception of a common good not provided by the market, a class analysis, a concern for the dehumanizing aspects of the factory system, and the concept of rent as being unproductive. Ricardo argued that the renting class was parasitic. This, and the possibility of a general glut, an over accumulation of capital to produce goods for sale rather than for use, became the foundation of a rising critique of the concept that free markets with competition would be sufficient to prevent disastrous downturns in the economy, and whether the need for expansion would inevitably lead to war. Socialist political economy before Marx Charles Fourier, influential early French socialist thinker A key early socialist theorist of political economy was Pierre-Joseph Proudhon. He was the most well-known of nineteenth century mutualist theorists and the first thinker to refer to himself as an anarchist. Others were: Technocrats like Henri de Saint Simon, agrarian radicals like Thomas Spence, William Ogilvie and William Cobbett; anti-capitalists like Thomas Hodgskin; communitarian and utopian socialists like Robert Owen, William Thompson and Charles Fourier; anti-market socialists like John Gray and John Francis Bray; the Christian mutualist William Batchelder Greene; as well as the theorists of the Chartist movement and early proponents of syndicalism. The first advocates of socialism promoted social leveling in order to create a meritocratic or technocratic society based upon individual talent. Count Henri de Saint-Simon was the first individual to coin the term socialism. Simon was fascinated by the enormous potential of science and technology, which led him to advocate a socialist society that would eliminate the disorderly aspects of capitalism and which would be based upon equal opportunities. Simon advocated a society in which each person was ranked according to his or her capacities and rewarded according to his or her work. This was accompanied by a desire to implement a rationally organized economy based on planning and geared towards large-scale scientific and material progress, which embodied a desire for a semi-planned economy. Other early socialist thinkers were influenced by the classical economists. The Ricardian socialists, such as Thomas Hodgskin and Charles Hall, were based on the work of David Ricardo and reasoned that the equilibrium value of commodities approximated producer prices when those commodities were in elastic supply, and that these producer prices corresponded to the embodied labor. The Ricardian socialists viewed profit, interest and rent as deductions from this exchange-value. Das Kapital Karl Marx employed systematic analysis in an ambitious attempt to elucidate capitalisms contradictory laws of motion, as well as to expose the specific mechanisms by which it exploits and alienates. He radically modified classical political economic theories. Notably, the labor theory of value that had been worked upon by Adam Smith and David Ricardo, was transformed into his characteristic law of value and used for the purpose of revealing how commodity fetishism obscures the reality of capitalist society. His approach, which Engels would call scientific socialism, would stand as the branching point in economic theory: in one direction went those who rejected the capitalist system as fundamentally anti-social, arguing that it could never be harnessed to effectively realize the fullest development of human potentialities wherein the free development of each is the condition for the free development of all.. Das Kapital is one of the many famous incomplete works of economic theory: Marx had planned four volumes, completed two, and left his collaborator Engels to complete the third. In many ways the work is modelled on Adam Smiths Wealth of Nations, seeking to be a comprehensive logical description of production, consumption and finance in relation to morality and the state. It is a work of philosophy, anthropology and sociology as much as one of economics. However, it has several important statements: * The Law of Value Capitalist production is the production of â€Å"an immense multitude of commodities† or generalised commodity production. A commodity has two essential qualities firstly, they are useful, they satisfy some human want, â€Å"the nature of such wants, whether, for instance, they spring from the stomach or from fancy, makes no difference,† and secondly they are sold on a market or exchanged. Critically the exchange value of a commodity â€Å"is independent of the amount of labour required to appropriate its useful qualities.† But rather depends on the amount of socially necessary labour required to produce it. All commodities are sold at their value, so the origin of the capitalist profit is not in cheating or theft but in the fact that the cost of reproduction of labour power, or the workers wage, is less than the value created during their time at work, enabling the capitalists to yield a surplus value or profit on their investments. * Historical Property Relations Historical capitalism represents a process of momentous social upheaval where rural masses were separated from the land and ownership of the means of production by force, deprivation, and legal manipulation, creating an urban proletariat based on the institution of wage-labour. Moreover, capitalist property relations aggravated the artificial separation between city and country, which is a key factor in accounting for the metabolic rift between human beings in capitalism and their natural environment, which is at the root of our current ecological dilemmas. * Commodity Fetishism Marx adapted previous value-theory to show that in capitalism phenomena involved with the price system (markets, competition, supply and demand) constitute a powerful ideology that obscures the underlying social relations of capitalist society. Commodity fetishism refers to this distortion of appearance. The underlying social reality is one of economic exploitation. * Economic Exploitation Workers are the fundamental creative source of new value. Property relations affording the right of usufruct and despotic control of the workplace to capitalists are the devices by which the surplus value created by workers is appropriated by the capitalists. * Accumulation Inherent to capitalism is the incessant drive to accumulate as a response to the competitive forces acting upon all capitalists. In such a context the accumulated wealth which is the source of the capitalists social power derives itself from being able to repeat the circuit of MoneyCommodityMoney, where the capitalist receives an increment or surplus value higher than their initial investment, as rapidly and efficiently as possible. Moreover this driving imperative leads capitalism to its expansion on a worldwide scale. * Crises Marx identified natural and historically specific (i.e. structural) barriers to accumulation that were interrelated and interpenetrated one another in times of crises. Different types of crises, such as realization crises and overproduction crises, are expressions of capitalisms inability to constructively overcome such barriers. Moreover, the upshot of crises is increased centralization, the expropriation of the many capitalists by the few. * Centralization The interacting forces of competition, endemic crises, intensive and extensive expansion of the scale of production, and a growing interdependency with the state apparatus, all promote a strong developmental tendency towards the centralization of capital. * Material Development As a result of its constant drive to optimize profitability by increasing the productivity of labour, typically by revolutionizing technology and production techniques, capitalism develops so as to progressively reduce the objective need for work, suggesting the potential for a new era of creative forms of work and expanded scope for leisure. * Socialization, and the pre-conditions for Revolution By socializing the labour process, concentrating workers into urban settings in large-scale production processes and linking them in a worldwide market, the agents of a potential revolutionary change are created. Thus Marx felt that in the course of its development capitalism was at the same time developing the preconditions for its own negation. However, although the objective conditions for change are generated by the capitalist system itself, the subjective conditions for social revolution can only come about through the apprehension of the objective circumstances by the agents themselves and the transformation of such understanding into an effective revolutionary program Anarchist economics Anarchist economics is the set of theories and practices of economics and economic activity within the political philosophy of anarchism. Pierre Joseph Proudhon was involved with the Lyons mutualists and later adopted the name to describe his own teachings. Mutualism is an anarchist school of thought that originates in the writings of Pierre-Joseph Proudhon, who envisioned a society where each person might possess a means of production, either individually or collectively, with trade representing equivalent amounts of labor in the free market. Integral to the scheme was the establishment of a mutual-credit bank that would lend to producers at a minimal interest rate, just high enough to cover administration. Mutualism is based on a labor theory of value that holds that when labor or its product is sold, in exchange, it ought to receive goods or services embodying the amount of labor necessary to produce an article of exactly similar and equal utility. Receiving anything less would be considered exploitation, theft of labor, or usury. Collectivist anarchism (also known as anarcho-collectivism) is a revolutionary doctrine that advocates the abolition of the state and private ownership of the means of production. Instead, it envisions the means of production being owned collectively and controlled and managed by the producers themselves. Once collectivization takes place, workers salaries would be determined in democratic organizations based on the amount of time they contributed to production. These salaries would be used to purchase goods in a communal market. Collectivist anarchism is most commonly associated with Mikhail Bakunin, the anti-authoritarian sections of the First International, and the early Spanish anarchist movement. The Conquest of Bread by Peter Kropotkin, influential work which presents the economic vision ofanarcho-communism Anarchist communism is a theory of anarchism which advocates the abolition of the state, private property, and capitalism in favor of common ownership of the means of production, direct democracy and a horizontal network of voluntary associations and workers councils with production and consumption based on the guiding principle: from each according to ability, to each according to need. Unlike mutualism, collectivist anarchism and marxism, anarcho-communism as defended by Peter Kropotkin and Errico Malatesta rejected the labor theory of value altogether, instead advocating a gift economy and to base distribution on need. Anarchist communism as a coherent, modern economic-political philosophy was first formulated in the Italian section of the First International by Carlo Cafiero, Emilio Covelli, Errico Malatesta, Andrea Costa and other ex-Mazzinian Republicans. Out of respect for Mikhail Bakunin, they did not make their differences with collectivist anarchism explicit until after Bakunins death. By the early 1880s, most of the European anarchist movement had adopted an anarchist communist position, advocating the abolition of wage labour and distribution according to need. Ironically, the collectivist label then became more commonly associated with Marxist state socialists who advocated the retention of some sort of wage system during the transition to full communism. After Marx Marxs work sharpened the existing differences between the revolutionary and non-revolutionary socialists. Non-revolutionary socialists took inspiration from the work of John Stuart Mill, and later Keynes and the Keynesians, who provided theoretical justification for (potentially very extensive) state involvement in an existing market economy. According to the Keynesians, if the business cycle could be solved by national ownership of key industries and state direction of their investment, class antagonism would be effectively tamed a compact would be formed between labour and the capitalists. There would be no need for revolution; instead Keynes looked to the eventual euthanasia of the rentier sometime in the far future. Joan Robinson and Michael Kalecki employed Keynesian insights to form the basis of a critical post-Keynesian economics that at times went well beyond liberal reformism. Many original socialist economic ideas would also emerge out of the trade union movement In the wake of Marx, Marxist economists developed many different, sometimes contradictory tendencies. Some of these tendencies were based on internal disputes about the meaning of some of Marxs ideas, including the Law of Value and his crisis theory. Other variations were elaborations that subsequent theorists made in light of real world developments. For example the monopoly capitalist school saw Paul A. Baran and Paul Sweezy attempt to modify Marxs theory of capitalist development, which was based upon the assumption of price competition, to reflect the evolution to a stage where both economy and state were subject to the dominating influence of giant corporations. World-systems analysis, would restate Marxs ideas about the worldwide division of labour and the drive to accumulate from the holistic perspective of capitalisms historical development as a global system. Accordingly, Immanuel Wallerstein, writing in 1979, maintained that There are today no socialist systems in the world-economy any more than there are feudal systems because there is only one world-system. It is a world-economy and it is by definition capitalist in form. Socialism involves the creation of a new kind of world-system, neither a redistributive world-empire nor a capitalist world-economy but a socialist world-government. I dont see this projection as being in the least utopian but I also dont feel its institution is imminent. It will be the outcome of a long social struggle in forms that may be familiar and perhaps in very few forms, that will take place in all the areas of the world-economy. Meanwhile other notable strands of reformist and revolutionary socialist economics sprung up that were either only loosely associated with Marxism or wholly independent. Thorsten Veblen is widely credited as the founder of critical institutionalism. His idiosyncratic theorizing included acidic critiques of the inefficiency of capitalism, monopolies, advertising, and the utility of conspicuous consumption. Some institutionalists have addressed the incentive problems experienced by the Soviet Union. Critical institutionalists have worked on the specification of incentive-compatible institutions, usually based on forms of participatory democracy, as a resolution superior to allocation by an autonomous market mechanism. Another key socialist, closely related to Marx, Keynes, and Gramsci, was Piero Sraffa. He mined classical political economy, particularly Ricardo, in an attempt to erect a value theory that was at the same time an explanation of the normal distribution of prices in an economy, as well that of income and economic growth. A key finding was that the net product or surplus in the sphere of production was determined by the balance of bargaining power between workers and capitalists, which was in turn subject to the influence of non-economic, presumably social and political factors.