Essay --

In this essay I will be talking about the 4 factors of production and the production possibility frontier and why some economies operate within the production possibility frontier and factors that cause the Production Possibility Frontier to shift outwards making the economy more efficient. The four factors of production are land, labour, capital and enterprise. Land is the natural resources available for production. Some nations are lucky enough to have the resources within their country and don’t have to import resources, for example oil or copper. Land: Nothing is free, except the air we breathe. The rest are scarce, because there are not enough natural resources in the world to satisfy the demands of consumers and producers. That is the economic problem, people’s wants are never-ending but the resources are insufficient to fulfil their demands. Air is classified as a free good since consumption by one person does not reduce the air available for others - a free good does not have an opportunity cost. Labour: The human input into the production process. â€Å"In the UK, of about 59 million inhabitants only approximately 35 million are of working age (16-64 years for men and 16-59 for women), and of those about 28 million have paid jobs.†- (Tutor2u, N.D) Owners of businesses prefer their workers to be motivated, meaning that they have the desire to work effectively and in reward wither benefit from extra pay or fringe benefits. The more produced by the labour force, the higher the Gross Domestic Product. Capital: â€Å"Capital has several meanings - including the finance raised to operate a business. But normally the term capital means investment in goods that can produce other goods in the future.† – (Tutor2u, N.D) Capital refers t... ...ficient. In conclusion, as a country works towards shifting the production possibility frontier outwards, the economy benefits by the fact that more jobs are being created as more products are being supplied. With the improvement of technology countries can exploit their resources more efficiently which causes more production, with more production come more sales and with more sales or exports there might eventually be an increase in economic growth. However, with more production come more external costs like pollution. Identifying and estimating a monetary value for air pollution can be very difficult to do but is important for economists concerned with the impact of economic activity on our environment. Besides the externalities, shifting the production possibility frontier outwards will create more jobs in the economy and that is a very good thing indeed.

The Spanish-American War and Imperialism

Q5-How did the Spanish-American War turn into a war of imperial expansion? Shawn Lannin 2/26/2013 The Spanish-American War originally started off as The United States protecting Cuba from its Spanish rulers essentially, but quickly evolved into colonial expansion. The war became a war of imperial expansion in the late 1800’s due to America’s new â€Å"outward† focuses on global markets and growing concerns of economic competition/expansion from other world powers. America, once a colony itself was now looking to expand its influence into other parts of the globe as its European cousins had been doing for quite some time.Before, during, and after the war Americans had growing concerns about the Pacific and East Asia. These foreign markets possessed vast amounts of natural resources and fertile lands for the taking; many expansionists had differing reasons for imperialistic expansion. Some argued religious purposes, some the spread of the White-Anglo-Saxon race, (W hite Mans Burden) while others stressed economic and military reasons to expand abroad. Captain Alfred Thayer Mahan, a naval strategist, believed in a strong navy and that America should turn its focus outward and expand its influences into the world.Mahan also urged the acquisition of Pacific islands for military and naval superiority. Islands such as Puerto Rico, Hawaii, The Philippines, and Guam soon became targets of America’s imperialistic aim. These islands could be used strategically to protect merchant fleets in route from Asia and also for military and economic purposes, for example the natural harbor found in Hawaii’s Pearl Harbor served as a great naval base and served as a stepping-stone to Asia, while the fertile volcanic soils were perfect for sugar plantations.Expansionists also sought to protect their trade rights and foreign policies such as The Open Door Policy, which gave free trade rights in East Asian markets. China was in turmoil at the time and o ther world powers were exhibiting land grabs while trying to carve out â€Å"spheres of influence† to control trade in Chinese markets. Expansion in the Pacific would not only secure our rights to trade but would protect our interests over seas as well.Nations across the world were colonizing weaker countries through the concept of Social Darwinism and America didn’t want to fall by the way side so to speak. We had to keep up with the world powers and protect our best interest. It was a time of empires and after decades of isolationism, America decided it was time to show the world our power. By 1898 America had defeated Spain and with its defeat came the annexation of several island nations that we used to our benefit for years to come.

The Value of Human Life Essays - 543 Words

Value of Human Life Though our society has adapted and developed, inequality remains prevalent all around the world. Our society assigns value to human live based on ethnicity and gender. Currently around the world there are over 30 million slaves in which 60,000 are in the United States. Even though slavery has been abolished in nearly every country many people still measure the value of individuals in cents and dollars. Should life be calculated in terms of money? How should we as a society assign value to a persons life? I personally believe that you cant assign a price to someones life and you shouldn’t It’s both politically and morally unjust. Everyone lives a different life full of their own individual experiences. Some live†¦show more content†¦Abraham Lincoln said â€Å"... all men are created equal† in the Gettysburg Address and many of us take this to true yet here in the 21 century we still allow this. Ethnicity largely influences the quality of the job you get as well as the income you will receive in the workforce. Currently African American men working full time, year round get paid an average of 75.3 percent comparable to caucasian men, according to the U.S. Current Population Survey and the National Committee on Pay Equity.The unemployment rate for African Americans is typically at about twice that of Caucasians whom also have many substantial advantages at work. They are offered a substantially larger variety of job opportunities and positions that earn more money and have more power. This form of inequality exists in both gender and race. Though the pay gap has been reduced drastically within t he last few years, it still remains a very common form of inequality I believe value is something only an individual can assign to their own life based on experience and significance. A life is’t an object you can place a price on, it’s a complex network full of experiences good and bad shared with others. Everyone on this planet has value not just to themselves but to others as well but that value is higher than any amount of money existing. Everyones life has an effect on the people around them. If you were to die tomorrow everyones life in your network of family and friends would changeShow MoreRelatedValue of a Human Life1400 Words   |  6 Pages Value of a Human Life What is an individual worth in currency? From birth an individual is worth something. Individuals tend to value life with emotion and ethics. Money is not usually placed into the equation of valuing human lives when one thinks about it. Society however, is all about money. People are life and it costs to live. There is always a need for money in life and society acknowledges that. Death is the absence of life, so what is the end value of an individual when life is over? ThisRead MoreThe Value of Human Life1514 Words   |  7 PagesThe Value of Human Life: A Comparison amp; Contrast on Various Models Employed Faculty of Economics Outline There is increasing debate on the question in what value should be placed upon human life. Numerous agencies and policy makers have taken great interest in tackling the issue of human life valuation. Although there is increasing controversies that surround producing estimates for valuing a human life, it is imperative to understand the importance of reaching an economic valueRead MoreThe Value Of Human Life907 Words   |  4 PagesValue of human life Everyone thinks human life is valuable. Some of those against capital punishment believe that human life is so valuable that even the worst murderers should not be deprived of the value of their lives. They believe that the value of the offender s life cannot be destroyed by the offender s bad conduct - even if they have killed someone. Some abolitionists don t go that far. 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The host of the party, the banker (appositive), believes that capital punishment is more moral because the death sentence kills the victim quicker rather than dragging out the process. A twenty-five year old lawyer at the party responds, saying, he would choose the life sentenceRead MoreLife And Death : Is The Base Of Human Values?1849 Words   |  8 Pageswith dignity and respect no matter of the timing of their death, which is the base of human values. Often times, we are afraid of speaking about death that we avoid the topic. As we grow older and we experience substantial loss, we start to come to the realization that we must also accept our own mortality. Dying with dignity is how we confront our own death and how we make our self-worth count. In many culture life and death are perceive as equally important. A person must be able to have autonomyRead MoreEssay on Capital Punishment Cheapens the Value of Human Life1588 Words   |  7 PagesI have the infallibility of human judgment demonstrated to me†. Why? The following quote by Stewart J sums it up perfectly in that: [T]he penalty of death differs from all other form of criminal punishment, not in degree but in kind. It treats all persons convicted †¦ not as uniquely individual human beings, but as members of a faceless, undifferentiated mass †¦ subjected to the blind infliction of the penalty of death. Death, in its finality, differs more from life imprisonment than a 100-yearRead MoreEuthanasi A Debate Of Morals, Ethics And The Value Of Human Life2388 Words   |  10 Pagesdebate of morals, ethics and the value of human life. Those against euthanasia focus on the word killing, but it is the person doing it to themselves and not someone else especially someone out of vengeance or criminal act. For some it is even a religious stance and say it is God’s will and only he shall decide when someone dies. More importantly those against it fail to see it is about an individual who is terminally ill should have the right to end their own life. Those against euthanasia argueRead Moreranscendentalists Emerson and Thoreau, Recognize the Value of Human Life599 Words   |  3 Pagesphilosophy that valued life and recognized the importance of the human person. They understood that every person has worth and a part to contribute to the world. Abortion, the intended killing of a human life, goes against everything these great men practiced and believed. Man can comprehend this through the use of our own individual intuition and moral courage. The term Transcendentalist describes a group of people who came up with a new approach to solve the conflicts of life. They would look toRead MoreWe live in a society where a life of another human being is losing value by the minute, murder is900 Words   |  4 PagesWe live in a society where a life of another human being is losing value by the minute, murder is almost more common than marriage, and monsters no longer lurk under our beds but inside us. Even sadder, this is acceptable; this is our normal. When we are children, we have an indescribable innocence; we are invincible. As we grow up, life happens, and we go through hardships that break us. Stephen King says it best with the words â€Å"sometimes inhuman places create human monsters† (Stephen King, The