Economics Essay Example | Topics and Well Written Essays - 1250 words

Economics - Essay Example It is a type of RAM that retains its data only if it is continuously accessed by a refresher circuit, in the absence of which it loses its contents. All personal computers use DRAM, as against SRAM (static random access memory), because they are much cheaper and occupy much less space (PC Guide, 2001). Online technology news publication Network World reported on January 4, 2011, that towards the end of 2010 until the date of writing, there had been an oversupply of DRAM which sent prices to its lowest price in one year (Jennings, 2011). The situation was blamed on post-holiday oversupply, also sending prices for personal computers lower. 3.0 Analysis 3.1 Supply and Demand Demand is â€Å"a desire for a good, backed by ability and willingness to pay.† Market demand is the cumulative demand of all buyers (Dwivedi, 2005, p. 34). The law of demand is â€Å"all things being equal, the amount demanded increases with a fall in price and diminishes with a rise in price† (Marsha ll, quoted in Dwivedi, 2005, p. 35). In the article, it was mentioned that earlier in 2010 there had been a forecast of shortage for the DRAM. The forecast was based on a Goldman Sachs PC unit growth forecast made in March 17, 2010 (Telecoms Korea, 2010). Because DRAMs are major components of PCs, there was a projected increase in demand for DRAMs to service the higher demand for PC manufactures. As the market unfolded for the rest of the year, however, it became apparent that the forecasted demand was overestimated. Supply is â€Å"the quantity of a commodity which its producers or sellers offer for sale at a given price, per unit of time.† Market supply is the sum of supplies of commodity by all individual firms (Dwivedi, 2005, p. 47). The law of supply is â€Å"all things being equal, the quantity supplied increases with the increase in price, and decreases with the decrease in price† (Dwivedi, 2005, p. 47). In the article, it was mentioned that beginning December, as the holiday shopping season lost momentum, major semiconductor manufacturers continued to output DRAMs in large volume, purported to stay competitive. This was due to the earlier forecast of a DRAM shortage, for which companies increased factory capacity, that in turn required higher production outputs to even out the additional overhead and maintain a lower per unit cost. Figure 1 following is a graph of the superimposed supply and demand curves. It is evident that increasing price leads to an increase in quantity supplied and decrease in quantity demanded. The point at which the two curves intersect is the equilibrium point, representing the price at which the quantity demanded is equal to the quantity supplied, and transactions take place. It is at this point where the market is made. There are shaded portions of the graph where surplus and shortages are represented. The interest of this paper is the area above the equilibrium point, where surplusage, or oversupply, occurs. At these prices, the quantity supplied exceeds the quantity demanded, forcing the suppliers to lower their prices. Figure 1: Law of Supply and Demand 3.2 Oversupply (Surplus) Oversupply occurs when the quantity supplied exceeds quantity demanded. This would tend to drive prices down, because suppliers would tend to outbid each other in a price war

Environmental Health Historical Prespective Research Paper

Environmental Health Historical Prespective - Research Paper Example Chemicals are the most critical factors that policy makers need to address because consumers may not control their intake. The lack of control results from the fact that consumers are hardly aware of the chemicals they consume from commercially produced products. Consumption of high levels of chemicals may cause diseases such as breast cancer, which have not found a cure since the evolution of mankind. Rachel Carson, an environmentalist was the first woman to create awareness of the negative effects of environmental factors such as chemicals. Rachel was concerned with the relationship between health and environment because she was a victim of breast cancer that is caused by consumption of chemicals (Carson, 2012). Environmental pollution that results from spraying of insecticides, and pesticide is one of the major factors that produces negative effects on health. This is proven by the study conducted by Silent Spring to find out the effects of pollution on health. The study found out that when human beings inhale air that contains chemicals, they are likely to contract cancerous diseases such as prostate and breast cancer. The institution compared the spread of breast cancer among women of Cape Cod, an area that grows cranberries with other regions in Massachusetts. The regions were chosen because growers of cranberries in Cape Cod often spray their farms to prevent pests from destroying their crops; while the rest of Massachusetts does not practice farming, hence consumers in these regions inhale uncontaminated air (Carson, 2012). The research found out that the rate of spread of breast cancer in Cape Cod is fifteen percent higher than that of other regions. The breast cancer results from estrogen compounds that lead to the growth of tumors in the human body. Human beings do not have the capability to control consumption of chemicals in the environment thus, the government should take measures to control air pollution because this reduces the negative conseque nces of the act (Van Holle, Deforche, Van Cauwegan, Goubert, Maes, Van, & De Bourdeaudhuji, 2012). The chemical products that affect the health of human beings may also be found in consumer products such as food and cosmetics (Schakowsky, & Markey, 2013). The products are made of various components, and some of them may disrupt the hormonal balance of the human body leading to cancer. Satura is an example of a cosmetic product that was developed in 1956, and it contains an estrogen compounds that causes breast cancer. Tobacco is another product that harms anyone who comes into contact with the smoke together with the direct consumer. The smoke from this product leads to discomfort on persons who inhale it, and it causes lung cancer. Consumers may prevent the negative consequences of these products by avoiding their intake; however, some manufacturers do not disclose all the chemical composition of their products (Harlid, Butt, Ivarsson, Eyfjord, Lenner, Manjer, & Carlson, 2012). Thi s means that the government should intervene through policies that ban the sale of chemicals that are harmful to the human body. The reduction of consumption of chemical products leads to improvement in the health of a nation’s population (Geoffrey, & Cockerham, 2010). This phenomenon has been proven by a research conducted by the United States center for Disease Control and Prevention (CDC). The institution conducted several researches