Should the Govt Interfere in an Economy of A Country :: Essays Papers

Should the Govt Interfere in an Economy of A Country Have you ever been on a baseball team? Or any other kind of organization? Then you must know that you need to work and cooperate with a number of other people in order to be successful. More importantly though, there is a coach, an instructor, a boss. This head honcho organizes all aspects of your team and keeps order. The head of your organization tells what you are going to learn, how to use and acquire the talent, and they will inform you what the target of your new skill is. Without a coach there is chaos and misunderstandings on the baseball field. Only the best players on the team will get to play and many feelings of being inferior compared to the rest of the team arise. This is an example of the contrasts of the market economy and the centrally planned economy. Countries are established very much like baseball teams, which is the reason why I chose to use the analogy above. The economy of a country affects everyone living in it and the type of economy changes your values, you r hopes, and especially your reality. I feel that total government control has many more advantages than a market economy and controlled economy gives a country a connected feeling. My first reason promoting total government interference is that the govt. supports handicapped and people with physical disabilities. I attended a speaker in our school's conference and she told us a great deal about the mentally ill. Many of them live in a free market system and they are homeless because they are unable to get jobs to support themselves. Competition is much too great in the market economy. In the controlled system, the mentally ill would get the same benefits as any other working person. Because of this, the mentally ill are able to eat, to be clothed, to have a roof over their heads, and basically survive. The government and the work force meet their basic needs.Secondly, in a controlled economy there is little supply and demand. The government controls everything and does not allow th e prices to rise and dip as extremely as $11.00/barrel of oil to $29.00/barrel of oil. This makes a controlled economy much more steady and secure. Sudden drops and hikes are virtually unknown to a centrally planned economy and the economy benefits from that.

Dharmodas Ghose Case Essay

Dharmodas Ghose, a minor, entered into a contract for borrowing a sum of Rs. 20,000 out of which the lender paid the minor a sum of Rs. 8,000. The minor executed mortgage of property in favour of the lender. Subsequently, the minor sued for setting aside the mortgage. The Privy Council had to ascertain the validity of the mortgage. Under Section 7 of the Transfer of Property Act, every person competent to contract is competent to mortgage. The Privy Council decided that Sections 10 and 11 of the Indian Contract Act make the minor’s contract void. The mortgagee prayed for refund of Rs. 8,000 by the minor. The Privy Council further held that as a minor’s contract is void, any money advanced to a minor cannot be recovered. JUSTICE SIR FORD NORTH On July 20, 1895, the respondent, Dharmodas Ghose, executed a mortgage in favour of Brahmo Dutt, a money-lender carrying on business at Calcutta and elsewhere, to secure the repayment of Rs. 20,000 at 12 per cent interest on some houses belonging to the respondent. The amount actually advanced is in dispute. At that time the respondent was an infant; and he did not attain twenty-one until the month of September following. Throughout the transaction Brahmo Dutt was absent from Calcutta, and the whole business was carried through for him by his attorney, Kedar Nath Mitter, the money being found by Dedraj, the local manager of Brahmo Dutt. While considering the proposed advance, Kedar Nath received information that the respondent was  still a minor; and on July15, 1895, the following letter was written and sent to him by Bhupendra Nath Bose, an attorney: â€Å"Dear Sir, I am instructed by S.M. Jogendranundinee Dasi, the mother and guardian appointed by the High Court of the person and property of Babu Dharmodas Ghose, that a mortgage of the properties of the said Babu Dharmodas Ghose is being prepared from your office. I am instructed to give you notice, which I hereby do, that the said Babu Dharmodas Ghose is still an infant under the age of twenty-one, and any one lending money to him will do so at his own risk and peril.† Kedar Nath positively denied the receipt of any such letter; but the Court of first instance and the Appellate Court both held that he did personally receive it on July 15; and the evidence is conclusive upon the point. On the day on which the mortgage was executed, Kedar Nath got the infant to sign a long declaration, which he had prepared for him, containing a statement that he came of age on June 17; and that Babu Dedraj and Brahmo Dutt, relying on his assurance that he had attained his majority, had agreed to advance to him Rs. 20,000. There is conflicting evidence as to the time when and circumstances under which that declaration was obtained; but it is unnecessary to go into this, as both Courts below have held that Kedar Nath did not act upon, and was not misled by, that statement, and was fully aware at the time the mortgage was executed of the minority of the respondent On September 10, 1895, the infant, by his mother and guardian as next friend, commenced this action againt Brahmo Dutt, stating that he was under age when he executed the mortgage, and praying for a declaration that it was void and inoperative, and should be delivered up to be cancelled. The defendant, Brahmo Dutt, put in a defence that the plaintiff was of full age when he executed the mortgage; that neither he nor Kedar Nath had any notice that the plaintiff was then an infant, that, even if he was a minor, the declaration as to his age was fraudulently made to deceive the defendant, and disentitled the plaintiff to any relief; and that in any case the Court should not grant the plaintiff any relief without making him repay the moneys advanced. Jenkins J., who presided in the Court of first instance, found the facts as above stated, and granted the relief asked. And the Appellate Court dismissed the appeal from him. Subsequently to the institution of the present appeal Brahmo Dutt died, and this appeal has been prosecuted by his executors. The first of the appellants’ reasons in support of the present appeal is that the Courts below were wrong in holding that the knowledge of Kedar Nath must be imputed to the defendant. In their Lordships’ opinion they were obviously right. The defendant was absent from Calcutta, and personally did not take any part in the transaction. It was entirely in charge of Kedar Nath, whose full authority to act as he did is not disputed. He stood in the place of the defendant for the purposes of this mortgage; and his acts and knowledge were the acts and knowledge of his principal. It was contended that Dedraj, the defendant’s gomastha, was the real representative in Calcutta of the defendant, and that he had no knowledge of the plaintiff’s minority. But there is nothing in this. He no doubt made the advance out of the defendant’s funds. But he says in his evidence that â€Å"Kedar Babu was acting on behalf of my master from the beginning in this matter;† and a little further on he adds that before the registration of the mortgage he did not communicate with his master on the subject of the minority. But he did know that there was a question raised as to the plaintiff’s age; and he says, â€Å"I left all matters regarding the minority in the hands of Kedar Babu.† The appellants’ counsel contended that the plaintiff is estopped by Section 115 of the Indian Evidence Act (I. of 1872) from setting up that he was an infant when he executed the mortgage. The section is as follows: â€Å"Estoppels. When one person has by his declaration act or omission intentionally caused or permitted another person to believe a thing to be true, and to act upon such belief, neither he nor his representative shall be allowed in any suit or proceeding between himself and such person or his representative to deny the truth of that thing.† The Courts below seem to have decided that this section does not apply to infants; but their Lordships do not think it necessary to deal with that question now. They consider it clear that the section does not apply to a  case like the present, where the statement relied upon is made to a person who knows the real facts and is not misled by the untrue statement. There can be no estoppel where the truth of the matter is known to both parties, and their Lordships hold, in accordance with English authorities, that a false representation, made to a person who knows it to be false, is not such a fraud as to take away the privilege of infancy: Nelson v Stocker [1 De G. & J. 458]. The same principle is recognised in the explanation to Section 19 of the Indian Contract Act, in which it is said that a fraud or misrepresentation which did not cause the consent to a contract of the party on whom such fraud was practiced, or to whom such misrepresentation was made, does not render a contract voidable. The point most pressed, however, on behalf of the appellants was that the Courts ought not to have decreed in the respondent’s favour without ordering him to repay to the appellants the sum of Rs. 10,500, said to have been paid to him as part of the consideration for the mortgage. And in support of this contention Section. 64 of the Contract Act (IX of 1872) was relied on: Both Courts below held that they were bound by authority to treat the contracts of infants as voidable only, and not void; but that this section only refers to contracts made by persons competent to contract, and therefore not to infants. The general current of decision in India certainly is that ever since the passing of the Indian Contract Act the contracts of infants are voidable only. This conclusion, however, has not been arrived at without vigourous protests by various judges from time to time; nor indeed without decisions to the contrary effect. Under these circumstances, their Lordships consider themselves at liberty to act on their own view of the law as declared by the Contract Act, and they have thought it right to have the case reargued before them upon this point. They do not consider it necessary to examine in detail the numerous decisions above referred to, as in their opinion the whole question turns upon what is the true construction of the Contract Act itself. It is necessary, therefore, to consider carefully the terms of that  Act; but before doing so it may be convenient to refer to the Transfer of Property Act (IV of 1882), s.7 of which provides that every person competent to contract and entitled to transferable property †¦ is competent to transfer such property †¦ in the circumstances, to the extent, and in the manner allowed and prescribed by any law for the time being in force. That is the Act under which the present mortgage was made, and it is merely dealing with persons competent to contract; and s. 4 of that Act provides that the chapters and sections of that Act which relate to contracts are to be taken as part of the Indian Contract Act, 1872. The present case, therefore, falls within the provisions of the latter Act. Then, to turn to the Contract Act, s. 2 provides (e) Every promise and every set of promises, forming the consideration for each other, is an agreement. (g) An agreement not enforceable by law is said to be void. An agreement enforceable by law is a contract, (i) An agreement which is enforceable by law at the option of one or more of the parties- thereto, but not at the option of the other or others, is a voidable contract Sect. 10 provides: â€Å"All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not thereby expressly declared to be void.† Then Sec. 11 is most important, as defining who are meant by â€Å"persons competent to contract;† it is as follows: â€Å"Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind, and is not disqualified from contracting by any law to which he is subject. Looking at these sections, their Lordships are satisfied that the Act makes it essential that all contracting parties should be â€Å"competent to contract,† and expressly provides that a person who by reason of infancy is incompetent to contract cannot make a contract within the meaning of the Act. This is clearly borne out by later sections in the Act. Sec. 68 provides that, â€Å"If a person incapable of entering into a contract, or any one whom he is legally bound to support, is supplied by another person with necessaries suited to his condition in life, the person who has furnished such supplies is entitled to be reimbursed from  the property of such incapable person.† It is beyond question that an infant falls within the class of persons here referred to as incapable of entering into a contract; and it is clear from the Act that he is not to be liable even for necessaries, and that no demand in respect thereof is enforceable against him by law, though a statutory claim is created against his property. Under Section. 183 and 184 no person under the age of majority can enjoy or be an agent. Again, under Section. 247 and 248, although a person under majority may be admitted to the benefits of a partnership, he cannot be made personally liable for any of its obligations; although he may on attaining majority accept those obligations if he thinks fit to do so. The question whether a contract is void or voidable presupposes the existence of a contract within the meaning of the Act, and cannot arise in the case of an infant. Their Lordships are, therefore, of opinion that in the present case there is not any such voidable contract as is dealt with in Sec tion 64. A new point was raised here by the appellants’ counsel, founded on s. 65 of the Contract Act, a section not referred to in the Courts below, or in the cases of the appellants or respondent. It is sufficient to say that this section, like Section. 64, starts from the basis of there being an agreement or contract between competent parties, and has no application to a case in which there never was, and never could have been, any contract. It was further argued that the preamble of the Act showed that the Act was only intended to define and amend certain parts of the law relating to contracts, and that contracts by infants were left outside the Act. If this were so, it does not appear how it would help the appellants. But in their Lordships’ opinion the Act, so far as it goes, is exhaustive and imperative, and does provide in clear language that an infant is not a person competent to bind himself by a contract of this description . Another enactment relied upon as a reason why the mortgage money should be returned is Section 41 of the Specific Relief Act (I of 1877), which is as follows: â€Å"Sec. 41. On adjudging the cancellation of an instrument the Court may require the party to whom such relief is granted to make any compensation to the other which justice may require.† Sec.38. provides in  similar terms for a case of rescission of a contract. These sections, no doubt, do give a discretion to the Court; but the Court of first instance, and subsequently the Appellate Court, in the exercise of such discretion, came to the conclusion that under the circumstances of this case justice did not require them to order the return by the respondent of money advanced to him with full knowledge of his infancy, and their Lordships see no reason for interfering with the discretion so exercised.

Case Study Anxiety Answer Sheet 1 Essay - 1193 Words

Case Study: Anxiety Answer Sheet Diagnosing Tina Student Name: Diagnosing Generalized Anxiety Disorder: 1a. Refer to the DSM-IV checklist for generalized anxiety disorder. Which of Tinas symptoms meet any of the criteria? (Be sure to match specific symptoms with specific criteria.) Tina’s symptoms match all four of the criteria in the DSM-IV checklist for generalized anxiety disorder. Tina worries constantly something is going to happen to her twins which is in correlation with the first criteria listed. The second criteria of having difficulty controlling the worry is exhibited in Tina’s own admission that she worries sll the time and this causes her to smoke, eat and drink excessively to deal with the worry. She exhibits all the†¦show more content†¦Diagnosing Panic Disorder: 3a. Refer to the DSM-IV checklist for panic disorder with agoraphobia and the checklist for panic disorder without agoraphobia. Which of Tina’s symptoms meet any of the criteria? (Be sure to match any specific symptoms with specific criteria.) Tina’s recurrent sudden panic attacks meet the criteria for panic disorder with agoraphobia. She experiences recurrent unexpected attacks, worries about the implications and stays at home because of them, which is a significant change in behavior related to the attacks. These attacks are not due to drug abuse and not accounted for by another mental disorder. 3b. Does Tina meet the diagnostic criteria for panic disorder with agoraphobia or panic disorder without agoraphobia or neither? Explain why you believe your choice is the most appropriate diagnosis. Tina meets the diagnostic criteria for panic disorder with agoraphobia. I believe this is the appropriate diagnosis because her symptoms meet the criteria in the DSM-IV. Understanding Tina’s Disorders: 1. How would the Socio-Cultural Perspective explain Tinas GAD? The Socio-Cultural Perspective might explain Tina’s GAD comes from the loss of her husband. She has lost that social connection and that has triggered this disorder. 2. Explain Tinas GAD from the Existential Perspective. Tina is not living her life with meaning. The Existentialist would say she is shrinking from responsibilityShow MoreRelatedThe Effects Of Workplace Safety On Organizations And Society989 Words   |  4 PagesUnderstanding the importance of workplace safety prevention is critical in the study of occupational health and safety. Workplace violence is a term used to describe a situation in which an individual experiences verbal abuse, threatening behaviour, harassment, or physical assault in their place of employment or business-related functions or events (OSH Answers Fact Sheet). This is a common occurrence in many workplaces and has a significant impact on the employees mental state, interfering withRead MoreMillon Clinical Inventory Assessment890 Words   |  4 Pagesclinical professionals. It is not appropriate for screening or for the assessment of normal personality. It can be used to formulate diagnostic hypotheses, confirm clinical diagnoses, formulate treatment plans, or as sist in decision making surrounding case management and disposition planning. It can also be used as an outcome measure to evaluate changes in an adolescents functioning as a result of treatment and intervention. (Millon). The MACI is designed specifically to help identify the early signsRead MoreShould Marijuana Be Legalized?1315 Words   |  6 Pagesstatement begs attention when the argument of whether or not marijuana should be legalized is of topic. According to The Foundation for a Drug Free World, marijuana is the most commonly used illicit drug in the United States; however after years of studies this drug is still illegal in almost all states while alcohol and tobacco continues to claim thousands of lives every year (n.d). 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Musical training helps develop language andRead MoreThe Hospital Consumer Assessment Of Healthcare Providers And Systems ( Hcahps )1522 Words   |  7 Pagesexperience. One focus of the HCAHPS survey is nursing communication. Clients are asked how often nurses listened carefully to them, whether nurses explain things in a way they could understand, and nurses treat them with courtesy and respect. Respondents answer these questions on a 4-point rating scale of never, sometimes, usually, and always. Higher scores signify higher satisfaction with communication (Centers for Medicare Medicaid Services, 2014). According to Inpatient Jefferson Hospital Performance

Ethics, Sustainability and CSR - Free Essay Example

Sample details Pages: 2 Words: 580 Downloads: 7 Date added: 2019/10/10 Did you like this example? The article by Julia Wolf on stakeholder pressure includes the relationship between supply chain management, and sustainable corporate performance takes a critical look at the Nestle campaign about these factors. The article looks at supply chain management and the extent of outside forces in this area. The article also discusses the relationship between the control of a supply chain and perception of stakeholders towards an organization. The article points out the means through which stakeholders pressure and supply chain management contribute towards the creation of a maintainable performance (Wolf, 2013). The main theories that are covered in the paper include the hypothesis theory. According to this theory. A sustainable corporate system is made up of three aspects. The three elements include environmental, social and economic factors. The paper, however, emphasizes economic factors as it is the research gap that the writer identified (Wolf, 2013). The case study between Greenpeace and Nestle is used to explain this theory. Stakeholder uses different strategies to influence sustainable performance. In a case where stakeholders stop buying a product, the organization cannot maintain its performance (Wolf, 2013). Don’t waste time! Our writers will create an original "Ethics, Sustainability and CSR" essay for you Create order The first hypothesis claims that supply chain management and stakeholder pressure both affect performance sustainability differently although both have a positive effect. When stakeholder pressure is high, the organization has to improve supply chain management to incorporate these needs (Wolf, 2013). The second hypothesis expounds on how stakeholder pressure determines supply chain management and performance sustainability. The article provides a chart explaining the relation between production sustainability, stakeholder pressure and supply chain management (Wolf, 2013). The third hypothesis is used to determine the level of sustainability in supply chain management and its effect on corporate performance sustainability. These theories are used as a presentation of how corporate performance sustainability, stakeholder pressure, and supply chain management interact (Wolf, 2013). The method used to prepare this article is through review of 1,621organisations spread along 32 regions globally. The organizations provided their CSP profile for analysis which helped in determining of the organizations sustainalytics database (Wolf, 2013). Dependence theory is also used in the article as a fundamental theory to explain the relationship between the three areas of focus. Dependency theory goes hand in hand with the proactive approach to supply chain management. Green procurement is depicted as the best way to ensure that the resources are available for longer ensuring sustainability of performance (Wolf, 2013). An excellent example provided for this area is Wal-marts decision to buy fish only from suppliers who were licensed by the Marine Stewardship Council. However, stakeholders’ pressure is challenging to incorporate in this case because the preferences of stakeholders differ and are even conflicting in some areas (Wolf, 2013). In general, the journal is used to challenge the theory that supply chain management is dictated by stakeholder pressure. The case scenario between Nestle and Greenpeace points out ways in which organizations react to outside pressure whether it is from government restrictions or nongovernment organizations (Wolf, 2013). It also shows the extent to which the outside factors influence supply chain management. Reduction in the level of stakeholder pressure is shown to have a positive effect in supply chain management. Supply chain management has also been examined concerning an organizations financial performance. The research looks into both social and economic factor and their implications on supply chain management. Sustainable performance is also discussed in details concluding that supply chain management affects the sustainability of production in an organization. Going green in the administration of the supply chain is presented as a solution to ensure organizations have sustainable performance.

Effects of Bullying Essay - 4263 Words

The Effects of Bullying on Victims A child being bullied is a very stressful ordeal for children. There are many different forms of bullying, it isn’t all physical violence it is also verbal or social abuse. Bulling can consist of threatening, persistent teasing, name calling, ignoring, gossiping and spreading vicious rumors. These occur when a bully completely breaks down a child’s image and personality. The three main psychological effects of bullying are depression, self-esteem, and suicidal thoughts. A child subjected to bullying is more likely to be diagnosed with a depressive disorder than a child not being bullied. A child feeling depressed can involve emotional symptoms: such as fear, sadness, irritability,†¦show more content†¦In the survey conducted in 1993 P. T. Slee and K. Rigby in Australia, almost half of the young people surveyed said they had thought about committing suicide as a result of bullying, and 20 percent have actually attempted suicide, some more than once. This compares with a 7 percent of the non-bullied group who contemplated suicide, and 3 percent who attempted it. The suicide of Phoebe Prince is a heartbreaking example of that bullying can lead too. According to a report in the October 10, 2010 issue of People magazine, Phoebe was a fifteen year old that moved with her family from a small town from Ireland. Only six months after coming to America, she had taken her own life, due to the torture that she endured at the hands of nine of her classmates. She drew the rage of female classmates when she started to date the senior quarterback of the school she attended. Soon she became the target of hateful attacks from every direction, and all her tribulations grew too much for her to endure. One day, after having a can of Red Bull thrown at her from a moving car while walking to her house, she took her own life in her home by hanging herself. A victim being bullied day every single day of their school live can be a huge weight on his back. A child with depression and low self-esteem can have long-term emotional damage. A child taking his own life can affect his parents, because they will endure the pain of losing aShow MoreRelatedBullying And Its Effect On Bullying1225 Words   |  5 Pagessituation is too much time wasted while another child suffers at the hands of bullying. There is no way to put a complete stop to bullying. Even if people responded to the issue in an ideal way, which almost no one does, there is not a one-size-fits-all solution to the problem (Whitson). People too often refer to an understood goal to stop bullying. 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In the past there have been numerous incidents involving teenagers shooting up schools and most recently children taking their own lives because they were tortured, teased in school, and made fun of online in their very own homes. What is a bully and what can we d o to prevent our children from harming themselves and others because of theseRead MoreThe Effects of Bullying2233 Words   |  9 PagesAbstract Bullying is defined as a repeated aggression in which one or more persons intend to harm or disturb another person physically, verbally or psychologically. It can take many forms such as physical aggression, verbal aggression or social isolation. Bullying is a significant social problem and has likely occurred throughout human history. Research has shown that bullying not only affects a child’s learning but it also has detrimental consequences on a child’s future development. 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Bullying is a current issue that is controversial because there is little to no action against bullying, the damage done to the victims lead to horrible actions such as suicide, and although it is gainingRead MoreEssay on Effects of Bullying 1232 Words   |  5 Pages Bullying is a terrible and dangerous activity that occurs in numerous places, such as schools, workplaces, and even homes. According to a study conducted in 2010, â€Å"about one in seven students in grades kindergarten through 12th grade is either a bully or has been a victim of bullying† (â€Å"Bullying Statistics†). Bullying can be performed by a student, co-worker, or even a parent. There are many classifications of bullying, each with their own causes, such as a lack of parental guidance, low self esteemRead MoreBullying And Its Effect On Society1060 Words   |  5 PagesWhat is bullying? 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Unemployment Rate - Types - Issues - and Government Policy of Australia

Question: Discuss the unemployment rate, types, issues, and government policy of Australia and comment unemployment in various states of Australia. Answer: Introduction It is well known that, in current, unemployment is a major problem to all over the world. The situation of unemployment takes place at the time when the numbers of unemployed people increase in comparison to employed people. Along with this, the unemployment rate is considered as a measure that plays a significant role in order to assess the occurrence of unemployment in an effective and a more accurate manner. Moreover, the unemployment rate is calculated by dividing the number of unemployed people by number of employed people. This is an effective measure to calculate the unemployment rate in an exact way (Layard, Layard, Nickell, and Jackman, 2005). On the other hand, for this research paper, I would like to select unemployment as a research topic. This research topic would be helpful the major aims as well as objectives of the paper in an effective way. This research paper would also be beneficial to develop a clear understanding about the unemployment. Moreover, the paper would be valuable to give details about the conceptual framework of unemployment rate and would also be helpful to explain that unemployment have a major impact on the economic growth of a nation. In other words, it can be said that, this research paper is designed to develop a clear understanding about the concepts of unemployment of a nation. At the same time, this research paper would also be advantageous to elucidate the unemployment rate, issue, and so on in the milieu of Australia. In other words, it can be said that, this research paper would be helpful to describe the unemployment rate, types, issues, and government policy in the context of Australia. In addition, this paper would also be useful to remark unemployment in different states of Australia. In this way, it should be noted down that, this research paper would be helpful to investigate different concepts that are related to the unemployment rate in the context of Australia. Unemployment/ Unemployment Rate The term unemployment stands for the people who are unemployed or without a job and also making efforts to find out a job. Along with this, the unemployment rate corresponds to the proportion of the total labor force that is unemployed or jobless, but seems to be for work and also in search of job in an active manner. The unemployment rate is computed by means of dividing the numbers of unemployed people all the way through the current total number of workforce (Bagusat, Keenan, and Sedmak, 2010). In this way, it should be noted down that, unemployment comes to pass at what time people are out of work and also in search of work. In addition to this, the unemployment rate increase in the recession time period due to low market demand as well as cost cutting strategies of the business organizations. Moreover, unemployment rate is not constant but it is fluctuate. The unemployment rate changes as per the market demand as well as economic situations of a nation. In addition, the report o f International Labor Organization indicates that, in 2012, approximately 6% of the total workforce of the world was unemployed (Australian Government. 2015). On the basis of the above table, it should be noted down that, there is a continuous increase in the GDP rate of the nation. This increase indicates that, in current, the economic situation of Australia is favorable for the nation that is helpful to reduce the unemployment rate of the nation in an effective and a more comprehensive manner. On the other hand, it is also true that, in recent year, the unemployment rate of Australia decreased in comparison to previous years. For case, in current, the unemployment rate of Australia goes down to 5.8% that is measured as the lowest rate in last twenty months (Australian Associated Press. 2015). For case, the below given graph is helpful to understand that, in 2016, the unemployment rate of Australia is less than the year 2015. (Source: TRADING ECONOMICS. 2016). On the basis of the above chart, it should be noted down that, the unemployment rate of the nation has reduced to 5.8% that indicates the strongest jobs growth of the nation in last 20 months. Moreover, according to Australian Bureau of Statistics, it is a surprise increase in the employment rate of the nation (Australian Government. 2015). Apart from this, in the previous year, the unemployment rate of Australia was high and there was a regular increase in the unemployment rate of the nation. The below give table is helpful to understand the unemployment rate of Australia in the last years: On the basis of the above table, it should be noted down that the unemployment rate of the nation increased on the regular basis. It indicates that the economic situation of the nation is unfavorable for the youths and the government of the nation is unable to provide employment to the people. This is a major subject of the concern to the nation. Moreover, in 2016, there is a decrease in the unemployment rate of the nation. This is good thing for the nation. The below graph is helpful to notice that the latest unemployment rate is low in view of the fact 2014. (Source: ABC. 2016. But, it does not mean that the problem has been solved. This is still a major subject of anxiety to the nation. For that reason, it can be said that, the government of the nation should make a lot of efforts to increase the chance of employment and to reduce the unemployment in order to improve the economy of the nation in an effective and a more comprehensive manner. Types of Unemployment There are numerous different types of unemployment such as: cyclical unemployment, frictional unemployment, structural unemployment, seasonal unemployment, demand deficient unemployment, regional unemployment, and classical unemployment (Baumol, and Blinder, 2008). But, cyclical unemployment, frictional unemployment, seasonal unemployment, and structural unemployment are the major types of unemployment. These major types of unemployment are described as below: Structural Unemployment: Structural unemployment is a major type of unemployment in the economy. This type of unemployment takes place at what time a labor market is incapable to make available jobs for every person who is in search of job. Moreover, this employment also happens due to the mismatch between the required skills by the employer and the skills that employee has (McEachern, 2012). Along with this, structural unemployment mainly focuses on the structural problems as well as inefficiencies in an economy and labor markets respectively. Cyclical Unemployment: Cyclical unemployment is a major type of unemployment that takes place at what time there is not an adequate amount of aggregate demand in the economy in order to offer employment to each and every person who wants to do work (Boyes, and Melvin, 2013). Along with this, in this type of unemployment, the number of unemployed people will always be greater that the number of available job. Frictional Unemployment: frictional unemployment is also the other major type of unemployment in the economy of a nation. It generally crops up at what time when there is a variance between the employees and jobs. Along with this, the disparity can be associated with payment, attitude, skills, work time, location, and other factors related to a job (Sexton, 2015). In other words, it also can be said that, this type of unemployment occurs when a worker makes efforts to search and switch from one job to another due to the dissatisfaction of the previous job. Seasonal Unemployment: Seasonal unemployment occurs because of the seasonal business of the business organization. For case, it is well-known that, in todays more competitive business era, each and every business organization focuses on the seasonal business to earn more and more profits. Consequently, a lot of industries produce as well as distribute their products at certain times of the year. As a result; they hire employees as per their needs and demands. Tourism, farming, and construction are the major industries wherever seasonal unemployment is frequent. These industries provide seasonal employment to the people who want to do job (Baumol, and Blinder, 2008). In this way, it should be noted down that, structural, cyclical, frictional, and seasonal are the major types of unemployment that take place within the economy system of a nation. Major Issues of Unemployment It has been clear that unemployment is a major issue to all over the world. Along with this, a long-term unemployment may create several social as well as economic problems to the nation. The main reason behind it is that unemployment points out low family income and consequently; it is a sign of low consumption of money by the people. In addition to this, the low consumption rate has a negative impact on the economy of the nation. It is because of low consumption rate points out that people have low desire to purchase products/ services due to the lack of sufficient money. This also reduces the demand of the products as well as services (Castaeda, Serrani, and Sperotti, 2012). In this way, it can be said that, high unemployment rate, low consumption rate, and low demand have an impact on the economic growth rate and success of the nation. On the other hand, the high unemployment rate also influences the government taxes of the nation. It is because of due to the low income and low consumption, the government of the nation is unable to collect and spend enough funds on social welfare as well as infrastructure of the nation. Apart from this, high employment rate also influence the standard of life of the people in a negative manner (Spoehr, 2005). In this way, these types of situations create social and economic problems in front of the nation. Moreover, the social and economic problems are dangerous to the overall development of the nation. At the same time, there are numerous kinds of issues that may create the problem of unemployment in front of nation. Moreover, these types of issues come to mind because of a variance between skills in the labor market. This discrepancy between skills may occur due to several reasons such as: geographical immobility, occupational immobility, technological changes, structural changes in the economy, and so on. In this way, it can be said that, long-term or high unemployment create a lot of issue to the nation that have a negative impact on the economy of the nation (Sloman, Norris, and Garrett, 2013). In other words, it also can be said that, unemployment is an issue that also create numerous serious issues to the nation and also influence the social, economic, and financial position of the nation in a negative manner. Government Policy Now days, unemployment has become a serious issue to all over the world. Along with this, the government of each and every nation making a lot of in order to reduce the unemployment rate in an effective way. Moreover, the government of the nation also making and implementing different methods, strategies, and policies to decrease the unemployment rate of nation. In other words, it can be said that, the government of a nation is playing a significant role to improve the employment rate and to reduce the unemployment rate for the economic and overall development of a nation (Helpman, Itskhoki, and Redding, 2010). On the other hand, it should be noted down that, Australia is a major country that is also facing the problem of unemployment in the past years and mainly at the time of recession. For case, Australia has been faced high unemployment problem for the duration of the great depression (19291932). It is because of, in mid 1930, the unemployment rate of Australia was 22% that has been reached at peak of 32% in middle of 1932. As a result, the government of nation made different effective policies to control the unemployment rate in an effective and a more comprehensive manner (Engbersen, Schuyt, Timmer, and Waarden, 2006). For case, monetary policy and deflationary policy are the major policies that were developed by the government to reduce employment rate and to improve the economy of the nation in an effective way. On the other hand, demand side policy and supply side policy are the major policies that were developed by the government to control as well as manage unemployment in a significant way. These two major policies are described as below: Demand Side Policy: Fiscal policy and monetary policy are the two major demand side policies that are used by the government of the nation in order o control the unemployment rate in an effective and a proper way. For case, fiscal policy is a major policy developed by the government in order to control the unemployment rate and to enhance the employment opportunities within the nation. It is because of fiscal policy plays a significant role in order to increase the aggregate demand, economic growth, and to reduce the unemployment rate (Abbas, Bouhga-Hagbe, Fats, Mauro, and Velloso, 2011). Along with this, with the help of fiscal policy, the government of the nation also becomes able to reduce the tax rates and to increase the government spending for the social welfare and economic growth success of the nation. In addition to this, fiscal policy also plays a vital role to increase the demand of the labor and as a result; it is beneficial to reduce the unemployment rate and also increase employment opportunities in the economy of a nation. In the same manner, monetary policy also plays a major role to manage as well as control the unemployment rate of the nation. The main reason behind it is that monetary policy of a nation is based on the low unemployment rate of the nation (Sakamoto, 2008). Along with this, the major objective of the monetary policy is to promote economic financial growth and stability in the nation that reduces the unemployment rate of the nation in an automatic manner. In this way, it can be said that, both fiscal and monetary policies play a critical role to reduce the unemployment rate within the economy of the nation. Supply Side Policy: The supply side policies developed by the government of a nation play a significant role in order to reduce the micro-economic issues and also control the unemployment rate of the nation in an effective and a more comprehensive manner. For case, employment subsidies, improved labor market flexibility, improved geographical mobility, decreased power of trades unions, education training, and so on are the supply side polices that are beneficial to reduce, control, and manage unemployment rate of the nation in a significant way. For example, the education and training policy is beneficial to improve the skills of the people that are essential to a job. It is well-known that, structural unemployment occurs due to the discrepancies between the required skills and the skills that employees have (Stroup, 2007). In this way, with the help of this policy, the government of the nation provides opportunities to the people; so they can develop their skills and become able to obtain suitable job. Consequently, it can be said that, the government of the nation is developing numerous policies to control the unemployment rate and to increase the employment opportunities in the nation. Unemployment in States and Territory of Australia According to the report of Australian Bureau of Statistics, in September 2015, the unemployment rate has been decreased in most of the states of Australia. For case, the unemployment rate cut down in Queensland (-0.1% - 6.3%), New South Wales (-0.1% - 5.9%), Tasmania (-0.4% - 6.0%), and South Australia (-0.2% - 7.7%) (OECD. 2014). Along with this, the unemployment rate was stable in Western Australia (WA) at 6.1%. Apart from this, the below given chart is helpful to represent the current unemployment rate of the major states as well as territories of Australia. (Source: Australian Government. 2016. On the basis of the above graph, it should be noted down that, the current unemployment rate of Australian Capital (AC) Territory is 4.1, Northern Territory 4.5, NSW 5.3, WA 5.6, Victoria 5.6, Tasmania 5.6, Qld 6.5, and SA 6.8 (Seal, and Penrith, 2008). On the basis of the unemployment rate of these states and territories, it should be noted down that, some of these states as well as territories for example ACT, NSW, WA and Northern Territory use low minimum wages policies to enhance employment and to control unemployment rate in an effective and a more comprehensive manner. Conclusion On the basis of above discussion, it can be said that, in recent years, high unemployment rate has become a serious issue to all over the world. The high unemployment rate is dangerous for the economic growth as well as success of the nation. It influences the economic growth of the nation in a negative way. On the other hand, it should also be observed that Australia is a nation that is also facing the issue of high unemployment. In addition to this, it is also scrutinized that, structural, cyclical, frictional, and seasonal unemployment are the major types of unemployment. Moreover, it can be concluded that, there are numerous issues that has been created the serious problem of high unemployment in the Australia. Also, it is observed that, the major states and territories of Australia such as: NSW, ACT, WA and Northern Territory have also been adopted attractive policies to reduce the unemployment rate in an effective and a more comprehensive manner. Along with this, it should also be noted down that, the government of the nation has been developed a lot of effective policies to reduce, maintain, and control the unemployment rate in the economy of the nation. References Abbas, S. A., Bouhga-Hagbe, J., Fats, A., Mauro, P., and Velloso, R. C. 2011. Fiscal policy and the current account. IMF Economic Review, 59(4), 603-629. Australian Government. 2015. The Great Depression. Australian Government. 2015. Unemployment benefits and the minimum wage. Australian Government. 2016. Bagusat, C., Keenan, W.J.F., and Sedmak, C., 2010. Decent Work and Unemployment. LIT Verlag Mnster. Baumol, W., and Blinder, A. 2008. Economics: Principles and Policy 11th ed. Cengage Learning. Boyes, W., and Melvin, M., 2013. Fundamentals of Economics 6th ed. Cengage Learning. Castaeda, A.S., Serrani, L., and Sperotti, F., 2012. Youth Unemployment and Joblessness: Causes, Consequences, Responses. Cambridge Scholars Publishing. Engbersen, G., Schuyt, K., Timmer, J. Waarden, F., 2006. Cultures of Unemployment: A Comparative Look at Long-Term Unemployment and Urban Poverty. Amsterdam University Press. Helpman, E., Itskhoki, O., and Redding, S., 2010. Inequality and unemployment in a global economy. Econometrica, 78(4), pp. 1239-1283.

Use Of Technology for Retail Stores Samples †MyAssignmenthelp.com

Question: Discuss about the Use Of Technology for Retail Stores. Answer: Introduction Technology has significantly changed the business world. Currently, the mass migration from the traditional brick and mortar to online business strategy has been observed in several industries. This migration aims to meet the changes that are ongoing in the society. However, some businesses have been reluctant to incorporate this wave of technology into their activities. With the proponents of technology claiming that brick and mortar method face extinction in the future, scholars have illustrated interests in unveiling how technology affects the future of retail stores. The retail industry is one of the most competitive sectors in the modern business world. The heated rivalry between Aldi and Woolworths in Australia is an ideal example of the competitive nature of the retail industry. Technology adoption in the retail industry has been widespread in spite its effects being uncertain. Despite the spread of technology in the retail market, physical stores will not be extinct in the fu ture as there is more to shopping than convenience and quick delivery. Analysis Aldi is among the few retail stores that believe that technology cannot replace the physical stores. The store uses technology for marketing and utilizes its physical stores to enhance customers experience. In Australia, Aldi is one of the retailers that insist on physical presence. With the grocery retailer insisting on providing quality products at a low price to its customers, it has silenced the proponents of technology who claim that brick and mortar influence is dwindling. In its official website, Aldi states that is has over 10,000 stores globally, and over 470 throughout Australia (Aldi, 2017). Despite its physical presence, Aldi ranks among the top ten grocery retailers in Australia further silencing the brick and mortar critics. Interestingly, critics of Aldis business strategy claims that the stores lower pricing methodology has enhanced its competitive advantage in the wake of technology inception in the retail market. However, it is essential to note that business is about strategizing (Min, 2010). In business, one only accepts changes that will add value to your customers, business idea and mission. For Aldi, technology has proved insignificant to its progress in the present. Aldis perception towards technology adoption is supported by the deliberation of Grewal et al. (2017) in their article on the future of retailing. According to Grewal et al. (2017), technology should be used to enhance customer engagement not to replace the physical presence of enterprises. Technology is vital for collecting customers perceptions about a brands services and products (Shankar et al., 2016). Furthermore, it is important in the marketing of a brands products. In this respect, Grewal et al. (2017), predict that technology will not wipe out the physical presence of retail stores. However, they warn that retailers cannot assume the growing influence of technology on the customers purchasing decisions. Consequently, it essential for retail stores to select the elements of technology that they consider vital to their sustainability and attainment of their strategic goals. Customers are the most important factor in the retail market. However, this does imply that retail decisions are solely focused on customers. Kumar et al. (2017) argue that retailers should develop and implement business strategies at four levels. These four levels focus on the market, firm, store, and customers. Currently, the widespread inception of technology is based on the customers alone. In fact, Kumar et al. (2017) point out that there is insufficient data on the customers preference for online stores over the physical ones. As Kumar et al. (2017) advice, it is essential to address the needs of all customers in the retail world. Precisely, not all customers support the concept of online shopping. Some customers value the social aspect of physical shopping with families and friends. Moreover, not all customers are conversant with technology. Consequently, replacing physical stores with the online platforms will inconvenience some customers. The profitability and sustainability of retail stores depend on how they address the different needs of customers. According to Grewal, et al. (2017), quick and convenient shopping is just one of the multiple needs of the customers. However, quick and convenient shopping is not among the basic needs of customers. As Kumar et al. (2017) expound, important factors such as price, quality of products, and customer care suppress the influence of technology in customer decisions. Aldi has compensated it technology inadequacies with quality products and cheap pricing. Moreover, Aldi has been quick to stock grocery products based on the changing customer needs. Currently, Aldi prioritizes selling health supporting products to satisfy customers' demand for healthy eating. In this respect, retailers should strive to meet the customers preferences inclusively not selectively. Recommendations Kumar et al. (2017) opine that retailers who optimize product assortment across different channels perform better than those who focus on a single platform. In this respect, it is vital for retail stores to exploit all the existing channels to maximize their profits. This view implies that retailers should use technology to complement their physical stores. Although Aldi has been successful without investing intensively in its online market, it a high time they reconsider their stand. The management of Aldi needs to consider the interests of their clients that prefer online purchasing. With demographic surveys indicating that the millennials will dominate Australia's population in the future, it is essential for Aldi to meet this groups technology needs. Moreover, Aldi needs to enhance its online platform to increase its competitive advantage. Aldis main competitors such as Woolworths and Coles have already diversified their activities to embrace online retailing. To maintain its com petitive advantage, Aldi should promote its online retailing activities the same way it supports its physical stores. Conclusion Conclusively, technology will not wipe out physical retail stores in the future. Instead, these two platforms will work in a complementary manner. Currently, Aldis success is an ideal illustration that there is more to retailing activities than technology inception. Although the firm uses technology for its marketing and customer support services, it prioritizes its physical presence. Moreover, Aldi compensates its online inefficiency by offering its clients quality products at a reduced cost. However, with research indicating that technology is an influential factor in customers purchase decision, Aldis management needs to support its online retailing activities to meet the needs of their digital customers. References Aldi, 2017. About Aldi. [Online] Available at: https://corporate.aldi.com.au/en/about-aldi/[Accessed 28 September 2017]. Grewal, D., Roggeveen, A. L. Nordflt, J., 2017. The Future of Retailing. Journal of Retailing, 93(1), pp. 1-6. Kumar, V., Anand, A. Song, H., 2017. Future of Retailer Profitability: An Organizing Framework. Journal of Retailing, 93(1), pp. 96-119. Min, H., 2010. Evaluating the comparative service quality of supermarkets using the analytic hierarchy process. The Journal of Services Marketing, 24(4), pp. 283-293. Shankar, V. et al., 2016. Mobile Shopper Marketing: Key Issues, Current Insights, and Future Research Avenues. Journal of Interactive Marketing, Volume 34, pp. 37-48.