The Concept of Comparative Advantage as a Milestone of Human Search for the Most Rational Means of Production Free Essay Example, 2500 words

Ricardian Model of Comparative Advantage is constructed in such a way that the difference between the trading countries is in their production technologies only. All other features are assumed identical across countries in the model. Since trade would occur and be advantageous, the model highlights one of the main reasons why countries trade, that is, the dissimilarity in their technology. Moreover, the gains of trade will still accrue to both trading countries even when a country has no absolute advantage whatsoever . Given that an unequal distribution of factors of production across all economies, these economies will have comparative advantages and disadvantages in production. Secondly, despite the fact that most models on trade conclude that some parties would benefit and some lose from free trade, the Ricardian model shows that everyone could benefit from it. However, a reason for this result is the model s simplifying assumption that there is only one factor of production. Al so, Ricardo showed by using a simple numerical example that even a technologically inferior country can benefit from free trade. That is, technological superiority is not enough to guarantee continued production of a good in free trade. We will write a custom essay sample on The Concept of Comparative Advantage as a Milestone of Human Search for the Most Rational Means of Production or any topic specifically for you Only $17.96 $11.86/page

Essay about Summary of Chapter 2 American Public Policy

Chapter one of American Public Policy, by B. Guy Peters, gives an in depth explanation of what American public policy is. The definition that Peters gives of Public policy is the† sum of government activities whether pursued directly or through agents, as those activities have an influence on the lives of citizens† (4). This definition of public policy can be categorized into three levels that will make differences in citizen’s lives. The first level is policy choices. This level is when, â€Å"decisions made by politicians, civil servants, or other granted authority that are directed toward using public power to affect the lives of the citizens† (4). All of these choices that are made by the president, congressman, or others can evolve into a†¦show more content†¦The first and most fundamental division of our government is â€Å"federalism or the constitutional allocation of governmental powers between the federal and state governments† (24) . Throughout the years federalism has changed from what it was first described in the constitution. Contemporary federalism is what is used in our modern government, and with the dilemmas that we have now a more centralized government has been used, which was not planned when our government was created. The second division is separation of powers. This division has a major impact on public policies. The constitution â€Å"distributes the powers of the federal government among three branches, each capable of applying checks and balances to the other two† (29). These three divisions can either work together, which makes policymaking smooth and able to get things done, or they can veto each other which makes policymaking harder and nothing gets done. The third division is subgovernments, or can also be described as iron triangles. This division has three actors involved the first is interest groups, the second is congressional committees or subcommittees, and the third is the ad ministrative agency (31-33). These actors work off each other to help get policies implemented. These three division help compose our public policies in the United States. Our modern government is large and complicated. Some people do not trust our government, and there are many issuesShow MoreRelatedEssay Rulemaking by Cornelius Kerwin962 Words   |  4 Pagesthose agencies with their rulemaking powers interpret legislation and proceed forward with making policy. This book also elaborates on the study of rulemaking by giving examples through cases, studies, loads of government documentation and interviews with policy makers. Following the information and chapters is really easy. The book is illustrated with clear tables, charts, and figures. Each chapter is clearly defined and tables/figures are clearly marked after the table of contents. Going furtherRead MoreRulemaking999 Words   |  4 Pagesthose agencies with their rulemaking powers interpret legislation and proceed forward with making policy. This book also elaborates on the study of rulemaking by giving examples through cases, studies, loads of government documentation and interviews with policy makers. Following the information and chapters is really easy. The book is illustrated with clear tables, charts, and figures. Each chapter is clearly defined and tables/figures are clearly marked after the table of contents. Going furtherRead MoreStudy Guide/Outline Chapter 11435 Words   |  6 PagesPART 1 PUTTING CORRECTIONS IN PERSPECTIVE Chapter 1 The History of Crime and Corrections CHAPTER OBJECTIVES After reading this chapter, students should be able to: 1. Define the term corrections, and know how correctional agencies fulfill their mission of protecting society. 2. 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Ratio Analysis of TCG Ltd Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Ratio Analysis of TCG Ltd. Answer: Introduction: Ratio Analysis is a very important tool used by managers in analysing the performance and position of a company. It facilitates comparative analysis and assists in decision making process (Society for Human Resource Management. This assignment calculates some key ratios of TCG Ltd. based on the data available from income statement and balance sheet of 2016 and 2017. It further analysis the performance of company in terms of profitability, performance, liquidity and solvency as depicted through the ratios calculated. Key Ratios of TCG Ltd. for 2016 and 2017: Ratios Formula Calculation (2017) Result (2017) Calculation (2016) Result (2016) 1. Return on Equity 19% 16% 2. Alternative Return on Assets 8% 5% 3. Alternative Profit Margin 5% 5% 4. Gross Margin 51% 43% 5. Total Asset Turnover 1.53 times 1.48 times 6. Days in Inventory 87.48 days 77.75 days 7. Days in Debtors 20.57 days 15.48 days 8. Current Ratio 0.97 times 1.22 times 9. Quick Ratio 0.25 times 0.46 times 10. Debt to Equity Ratio 1.28 times 1.92 tims Analysis of firms performance: Current ratio determines the efficiency level of a firm to pay its current liabilities with its current assets. 2:1 is considered as safe and idle current ratio. The current ratio of TCG Ltd. which was already low in 2016 i.e., 1.22 times further declined in 2017 to an alarming level of 0.97. This is because of significant decrease in amount of cash, receivables and other assets shown in balance sheet. This creates a risk for the firm in paying its short-term debts within time. Quick ratio has also declined from 0.46 to 0.25 against the idle ratio of 1:1. This is very concerning situation for firm as it shows that in case of urgent situation it doesnt have ready or quickly reliable cash to pay off its debt. Both the ratio shows that short- term solvency of firm is at risk (Wahlen, Baginski, Bradshaw 2010). The debt equity ratio of 1.92 times in 2016 to decreased ratio of 1.28 times which is below the idle ratio of 2:1 shows a sound position of company in terms of long- term solvency. This may be because it has mobilised its current assets in acquiring fixed and intangible assets and payment of long- term debts. But a very low debt equity ratio can prove costlier to firm and can further affect the return on equity (Lee, Lee Lee 2009). Days in inventory and days in debtors indicate the number of days it takes for a firm to convert its inventory and receivables in cash (Drake n.d.). The rise in number of days in both these case from 2016 to 2017 is not favourable for the company. It shows that it takes more time in realising cash from inventory and debtors. Given the low current ratio it further adds the concern in this issue. Asset turnover ratio, part of activity ratio measures the effectiveness of using the total assets of firm to generate revenue (Kimmel, Weygandt Kieso 2009). Return on equity, return on assets, Profit margin, and gross margin analyse the performance and profitability of the organisation. These ratios measure the operational efficiency of firm, i.e., how well it is utilizing its resources to generate sufficient earning for business and its shareholders (Nikolai, Bazley, Jones 2009). The rise in the figures of all these ratios from 2016 to 2017 shows the growing performance of the company. There is no idle number for these ratios. Higher the ratio, higher it is profitable and beneficial for firm (Berman Knight 2008). References: Berman, K. Knight, J., 2008, Financial Intelligence for Entrepreneurs: What you really need to know about the numbers, Harvard Business Press, USA. Drake, P. P., n.d., Financial ratio analysis, viewed on 20th July 2017, from https://educ.jmu.edu/~drakepp/principles/module2/fin_rat.pdf Wahlen, J. M., Baginski, S. P. Bradshaw, 2010, Financial Reporting, Financial Statement Analysis and Valuation: A Strategic Perspective, 7th edn. Cengage Learning, USA. Kimmel, P. D., Weygandt, J. J. Kieso, D.E, 2009, Accounting: Tools for Business Decision Making, 3rd edn., John Wiley Sons, USA. Lee, A. C., Lee, J. C. Lee, C. F., 2009, Financial Analysis, Planning Forecasting: Theory and Application, 2nd edn., World Scientific, Singapore. Nikolai, L. A., Bazley, J. D. Jones, J. P., 2009, Intermediate Accounting, 11th edn., Cengage Learning, USA.