Monthly Archive September 2015

Demand

Demand ,Determinants of Demand

Demand:

The quantity of goods and services that consumer are willing and able to purchase in the market at various prices during a period of time is called demand.

Determinants of Demand(Factors affecting demand):

The various factors that affects demand of a commmodity are as follows:

a. Price of a commodity:

This is the main determinant of market demand.When price of a commodity increases ,demand for a commodity decreases and vice-versa.There is the indirect relationship between price and quantity.

b. Income:

A rise in a person’s income will lead to an increase in demand (shift demand curve to the right), a fall will lead to a decrease in demand for normal goods. Goods whose demand varies inversely with income are called inferior goods (e.g. Hamburger Helper).

c. Number of Consumers:

When the no. of consumer (population of a country ) increases then the demand for a commodity also increases and vice -versa.

d. Price of related goods:

It consists of two goods :

i.Substitute goods (those that can be used to replace each other): price of substitute and demand for the other good are directly related.

Example: If the price of coffee rises, the demand for tea should increase.

ii. Complement goods (those that can be used together): price of complement and demand for the other good are inversely related.

Example:An incresase in price of a petrol causes a decrease in the demand for car ,othe things remaining the same.

e.Taste and preferences:

This is also major determinants of demand.When the taste and preferences of people is matcched with the commodity then the quantity demanded also increases and vice-versa.There exists direct relationship between them.

f. Feast and festivals:

When the festivals come ,then the quantity of goods demanded also increases and vice-versa.So,there exists direct relationship between festivals and quantity of goods demanded.

g. Climate:

With the change in the climate ,the quantity of goods  demanded also increases .So there exists direct relationship between climate and quantity of goods demanded.

h. Advertisement expenditure:

When the money invested in advertisement is more ie;the more the advertisement will be shown, that  will lead to more no. of quantity demanded.So,there exists direct relationship between price and quantity.

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The Clock Tower-Four levels

The Clock Tower

ghantaghar

Literal Comprehension:

The speaker in this poem describes the conduction of an old pensioner. The poem has compared the old pensioned senior vet with clock tower, Ghantaghar. He is  old, rejected and has distributed all his things to his relatives. All his military equipments are gone. The old pensioner has jealously too; so, he has kept two souvenirs of his army life. They are an old-modeled, large, round pocket watch and the ancient hat. The clock tower is like a pensioned senior vet who is passing t=long and sand days of the old age. It has a clock on its neck and a cap like the old vet on its head. It is standing forever on the bank of Ghantaghar and it is brooding.

Interpretation:

The loneliness of the old man is powerfully presented through the image of the clock tower symbolically. Like the clock tower which is old, neglected and waiting its end day, the old man has also the same fate- old, rejected and dejected. The poem has revealed the bitter reality of the old age. Ranipokhari was built by the king Pratap Malla in 1727 BS in the memory of his son. It was a token of consolation to his wife. Thus, by looking at the lake the old man remembers his past and is mollifying (lessening) his suffering.

Critical Thinking: 

Time is most power full thing. It turns a handsome man to an old and ugly person who has nothing except memories. We all are victims of the time. The poem aptly points out the power of time. The vet is sitting under the tower, time, which itself is the curse of for human being. The poem has used the power of imagery in a powerful way. Without stating the history of Ranipokhari it invites readers to know why the old man is looking at the Ranipokhari, queen’s lake.

  • Why does the poet compare an in animate object like a clock tower with a living human being?
  • Why does he say that the clock tower is brooding? It is unhappy. How does he know?

Assimilation:

The poet seems to be very unhappy with our neglect towards tradition, historical monuments.In our life as well, when we grow older, nobody talks to us. We want to share our experiences, but nobody would have time to listen us. Thus we lament and curse time because it is time that changes us to an old and ugly things. We have to wait silently to death. We cannot stop the passage of time, time is powerful than us. We have nothing except lamenting on the bygone days. I met an old man in Pasupati area. He reported all his grief within five minutes to an unknown like me.

 

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Third Thoughts-Four levels

Third Thoughts

third

Literal Comprehension:

This story “Third Thoughts” is written by E.V Lucas. The narrator’s friend was not a successful businessman.  Once the writer’s friend while visiting New York bought a painting thinking that it was by Turner. He got it at cheap price since the seller was also confused about its originality. With the painting he went to London and sold it at fifty pounds. He was so much happy that he decided to share the profit with seller of New York. At first, he decided to share fifty percent of his profit and wrote a letter but having no stamp, he went to his room. Again at about 3 AM, he thought it quite inappropriate to share the profit but still thought of sending ten pounds only. His thinking kept on changing and couldn’t sleep well. Again. he thought of sending five pounds thinking that if he shared, the Goddess would be angry and he thought it was he who knew the value of the painting. If he had known it, he wouldn’t have given him at such cheap rate, so it is wrong to send him the profit. Finally, he decided to send only a pound.Early in the morning, he went out side and spent all his money in gambling. Finally, he concluded that buying and selling are straight forward matter. Everyone in this matter tries to get benefit. The buyer once paying to the goods has no obligation to the dealer.

Interpretation: 

The story presenting the constant changing nature of human mind seems to be full of humor and satire. Basically thinking with the nature of businessman’s mind it proves that human mind can never be rigid and fixed. Especially in business their mind keeps on changing. At another level, it sheds light on human earning since the earning as that of writer’s friend has no meaning at all in life. The most important thing in the story is that in business buying and selling are straight forward dealings. It has nothing to do with human consideration, sympathy and faith. Once goods are sold or bought they have nothing to do with them since then.

Critical Thinking: 

The story offers a great deal of humor and satire. But in many respects, it doesn’t seem appropriate and convincing.  

  •       Does anyone want to share his profit? Isn’t the idea of sharing profit with the dealer  humors?
  •       Does any seller sell his good without knowing it?
  •         Does a customer get Turner’s painting in such low price?
  •       How can we say that there is no value of  feelings and emotions while doing business?

Assimilation: 

As I went through the story, it reminded me of my own events that I experienced earlier. Once I had been to my village after a long time from the city. I had taken a beautiful watch there. Everyone liked it, one of my friends promised to pay Rs 500 for it ,so I gave it to him. I got Rs 300 as profit, and so I got extremely happy.

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King John and the Abbot of Canterbury-Four levels

King John and the Abbot of Canterbury

Four levels for-BBA,BBA-BI,BBA-TT,BCIS

abot

Literal Comprehension:

‘King John and the Abbot of Canterbury’ is a poetic story(poem that tells story) written by unknown writer before 1695 so it is called Anonymous poem.The two central characters and they are King John and the Abbot of Canterbury.The king is infamous for his wrong deeds whereas Abbot of Canterbury is popular among people due to his popular deeds and behaviors.Once the king of England was quite jealous and suspicious of the prosperity of the Abbot of Canterbury. So he thought that the abbot might make a conspiracy against his throne. The king decided to get rid of him. So he called the abbot and asked three nonsense questions on the condition that he would behead him if he failed to answer the questions within fifteen days. The questions were: What is the exact price/value of the king with his crown of gold on his head among the noblemen? How quickly he may ride the whole world about? What does the king think at the moment? It made him too sad. He tried his best to find the answer by consulting the professors visiting the university but couldn’t. Finally, his own shepherd promised him to help him. So one day, in order to answer the questions raised by the king, the shepherd changed himself as the abbot and went to the palace. One by one he answered that the value of the king was twenty nine pence less than the savior, for the second he responded that it takes a whole day if he rose and ran in the speed of sun that rotates round the earth and for the last, he responded that the king might be thinking that he was the abbot of Canterbury but he was wrong because he was a simple shepherd to abbot.. Finally, the disguised shepherd i.e. the abbot exposed all the truths. The king becomes happy with the shepherd and offers him a place of Abbot in Canterbury. In return the shepherd rejects king’s proposal saying that he is not qualified enough to be appointed as an Abbot.

Interpretation:
From the moral point of view, the poem is much impressive.An absolute king, under any threat, can take an immoral, unethical, illogical decision to save his throne.Knowledge does not just belong to scholars, and high ranked religious people. Source of knowledge is everywhere and it comes through experience as well.Even an uneducated person sometimes can solve riddles that are unsolved by scholars.Through the poem, the poet proves that the bookish and formal education is not so much effective and useful to solve the practical problems. On the one hand, it has a great lesson that people and their knowledge shouldn’t be judged on the ground of their profession and appearance. Thus the text has taught a great lesson that makes it clear that much is learnt through their daily life activities than from the universities. So the so called ignorant ones in terms of getting formal education aren’t to be ignored and devaluated.

Critical Thinking:

The poem seems to be much humorous and satirical. So far it imparts the idea of human knowledge and wisdom, it is appropriate but in whatever way the King Abbot and the Shepherd are presented, they don’t seem believable and convincing. Since the king fails to recognize the shepherd changed as abbot. Similarly, the shepherd is presented in such a way that doesn’t fit him to be more than that it mocks the formal education. It is too difficult to accept it.

  • Can a king ask such nonsense question to a reputed Abbot?
  • Don’t you think Shepherd’s answers are controversial?
  • How can the king leave the person so easily  who betrayed him?

Assimilation:

Reading this poem, I am too much impressed with the fact that only the formal education doesn’t make people capable, rather they may learn many things from the practical experiences too. Having seen in my village, I come to know that many old people are capable of doing various things which other educated men don’t know. So people can learn many things from their practical knowledge and experience.

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To know a fly-Four levels

To know a fly

Four Levels of Interaction By Vincent G.Dethier For: BBA,BBA-BI,BBA-TT,BCIS

fly

Literal Comprehension:

‘To Know A Fly’ is an essay based on scientific experiment written by Vincent Gaston Dethier.He was (1915 – 1993) ,an American psychologist and entomologist.He was a pioneer in the study of insect-plant interactions.It has presented the view that every scientific experiment is to be carried out consciously and carefully because any experiment carried randomly may not give appropriate and acceptable result. The experiment always begins with act of faith over reality, cause and effect relationship, discovery by reason, our senses. It continues with an observation and a question. The scientist in fact alters the condition, observes a result and draws a conclusion. Therefore a man willing to conduct an experiment needs to be careful and conscious enough in this concern, since the most commonly committed scientific sin is the lack of proper experimental control.
The text presents one example of carefully carried out experiment and the next the randomly conducted experiment. Once a gentleman by cutting off flea’s hind legs draws a conclusion that it hears from the hind legs since it couldn’t jump despite his order and he had already tried by amputating other parts of it. Similarly the next man concluded from his experiment that the intoxicating quality lies in glass not in water and even not in other alcoholic substances like bourbon, rum, scotch, rye, and gin and so on since all these substances were mixed with water. This kind of confusing correlation with cause and effect gives rise to fallacy and scientific sin.
Finally, the text presents the extraordinary capacity of fly to test and identify the sweetness in substance. This is the most fruitful experiment conducted through shrewd observation. It extends out its proboscis and tastes the food item to ensure either it is sweet or not. It is too much sensitive. It tastes the food through the proboscis.

Interpretation:

As a piece of scientific writing, the text is trying to present the importance of experiment and alerts that one must be careful and conscious to carry out the experiment. Otherwise, it harms more than it helps. Similarly, presenting an experiment on fly informs the reader that nature has given every creature with own distinct qualities. In this, it is useless to regard human as superior creature in the world.

Critical Thinking:

The text presents the ideas on scientific experiment and its importance. Naturally, one must be conscious and careful but in every experiment such excessive consciousness doesn’t work. Since many scientific discoveries are taking suddenly and in random experiments. No scientist works being fixed on his invention.Whatever the discoveries take place, it is sudden and strange.

Assimilation:

As I went through the story, it really impressed me. I used to think that experiment is just to get the conclusion and they are easy. Everything is there and to experiment is to mix the things and observe them carefully. But now I know that to perform experiment needs a lot of care and knowledge. More than that, after reading it, I came to know and accept the fact that nature has equally empowered its creatures with distinct qualities.

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Don’t Cut Down The Trees ,Brother Woodcutter-Four levels

Don’t Cut Down The Trees,Brother Woodcutter

Four Levels of Interaction By  Balkrishna Sama For: BBA,BBA-BI,BBA-TT,BCIS 

tree

By:Balkrishna Sama(1902-1981)

(Translated by Michael Hutt)

 Literal Comprehension: 

The poem “Don’t Cut Down the Trees, Brother Woodcutter” is composed by Nepali poet Bal Krishna Sama. The main theme of the poem is about conservation of nature. Specially, the poet argues that trees are very important in our lives and they need to be protected. The poet considers the trees as our dead mother who are silent observers, but they protect us from natural calamities. The poet personifies the tree. The tree is like our mother that is around us and takes care of us. When we remember our childhood, we find that most of the time we play around the tree. It gives us fruits and flowers as if our mother cares us. Thus, no child is hungry. Their leafy lips kiss us and when they feel tired, they sigh and weep. They never speak a word. They are able to tolerate and their pains and grieves are only for our sake. They never complain.

Further, the poet says that in winter the family sits around the fire burnt from the wood, and sing and talk. In the winter, the trees are covered with white frost that makes them bow at us. Nevertheless, we are ignorant. We do not understand all the scarifies and tolerance that the trees endure to sustain our lives. They silently and secretly pass the cold nights dreaming of our happy and cheerful days we spent during our childhoods under their guardianship. They also hear us singing the songs they had taught us. They bless our laugher all the time. They always love us. But, they cannot express their inner thoughts to us. It does not mean that they are lifeless, ignorant and thoughtless. They wait for us until winter ends. As soon as spring arrives, they again spread out their arms and appeal us not to cut off their arms.

Interpretation:

   In this pro-environment poem, the poet is trying to be more concerned with the pressing problems of deforestation and environmental degradation. He repeats the idea of considering the earth and its plants as respectful and forgiving to us, the selfish humans who ceaselessly fell down trees for fulfilling their present needs. The poet is indirectly criticizing the human act of clearing the lands, thus, making the life of our children and grandchildren insecure. The trees need to be saved for our future in case the human species may become extinct.

Critical Thinking:  

The poem “Don’t Cut Down the Trees, Brother Woodcutter” has contemporary message to all the generation. Keeping the environment balance is the upmost property for the benefit of human beings. Some of the ideas presented in this poem are not common to cover all sorts of ecological parts.

  • For instance, those who live in hot place do they find frost on the top of the trees during winter?
  • How could the poet understand the feeling of the tree? 

 Assimilation:

 After reading this poem, once I felt to think of our dense forest found in Terai belt. There was “Charkose Jhadi” which was the great economic source of Nepal. Now we do not find it. if the then government was alerted like the poet Sama even nowadays we could find that dense forest. Thus, I appeal citizens and the government to conserve the forest whatever is left for our future generation.

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Ten principles of Economics

Nicolas Gregory Mankiw’s Ten Principles of Economics:

gregory

 

Nicolas Gregory Mankiw is an macroeconomist and Professor of economics at Harvard University.Mankiw proposed 10 principles of economics which is unified by several central ideas.These 10 principles of economics offer an overview about what economics is all about.

How people make decisions

1.People face trade off: To get one thing you have to give up something else.Making decisions require s trading off one goal against another.

2.The cost of something is what you give up to get it:Decision makers have to consider both the ovious and implicit costs of their actions.

3.Rational people think at the margin:A rational decision maker takes action if and only if the marginal benefit of the action exceeds the marginal cost.

4.People respond to incentives:Behaviour changes when the cost and benefit changes.

How people interact

5.Trade can make everyone better Off: Trade allows each person to specialize in the activities he or she does best.By trading with others,people can buy a greater  variety of goods or services.

6.Market are usually a good way to organize economic activity: Households and firms that interact in market economics act as if they are guided by an “invisible hand” that leads the market to allocate resources efficiently.The opposite of this economic activity that is organized by a central planner within the government.

7.Government can sometimes improve market outcomes: When the market fails to allocate resources efficiently,the government can change the outcome through public policy.Examples are regulations against monopolies and pollution.

How economy works as a whole

8.A country’s standard of living depends on its ability to produce goods and services: Countries whose workers produce a large quantity of goods and services per unit of time enjoy a high standard of living.Similarly,as a nation’s productivity grows,so does its average income.

9.Price rise when the government prints too much money:When a government create large quantity of nation’s money,the value of the money falls.As a result, prices increase,requiring more of the same money to buy the goods and services.

10. Society faces a short-run tradeoff between inflation and unemployment:Reducing inflation often causes a temporary rise in unemployment. This tradeoff is crucial for understanding the short-run effects of changes in taxes,govenment spending and monetary policy.

 

 

 

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