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if, however, the price ceiling is set at a level lower than the equilibrium level, there will be a shortage of rice on the market:
Suppliers will be induced to violate the price ceiling because they know that there is demand in the market at a higher price point. At any point between the price ceiling and the equilibrium price the suppliers will still be able to sell rice:
The government likely implemented the price ceiling in order to ensure that the poorest people can afford to eat rice. The government would need to support this market distortion in two ways. The first is that the government would likely need to enforce the price ceiling strictly, as merchants would otherwise have incentive to exceed...
The second is that the government would likely need to bring in and distribute its own supply of rice as the market would have insufficient incentive to meet the need at the ceiling price. The government would be in a situation where the price ceiling did not solve the original problem in the long-run. Thus, direct government intervention in the market will be required in order to support the market under the new conditions that arose with the initial government intervention in the market. The government has caused a market failure and must therefore create an artificial market in order to rectify the problem. In the long run, the Sri Lankan government may need to enter the rice-growing business as well.
"Social messages sent by clothing, accessories and decorations can invoke social status, occupation, ethnic and religious affiliation, marital status and sexual availability etc." 4.2 Product innovation and technological changes The rapid rate of technological development set the course of development in numerous other domains, including apparel. In this order of ides, the technology adherent to the apparel production process is on its path from computer made designs to technologically improved materials'
Culture of Interest: Japan Theoretical foundations of cultural and cross-cultural analysis: Japan and America Japan: Mildly collectivist culture American culture American: An individualistic culture Similarities and differences in Japanese and U.S. culture Potential biases of researcher Appendix I- Hofstede four Dimensional Theory Edward Tylor (1832-1917) defines culture as a collection of customs, laws, morals, knowledge, and symbols displayed by a society and its constituting members. Culture is form of collective expression by groups of people. Since the dawn
The stereotype that "the exotic is the erotic" has fueled the demand for foreign women to enter prostitution, further inflating the demand for trafficked women. This has been a traditional marketing angle in the sex industry, dating back to Roman times when the hetaerae, or foreign women, commanded the highest prices for sexual services. Today, there is an even broader selection of source countries for recruitment. War or a military conflict
Threats due to weather include floods, earthquakes, hurricanes, tornadoes and blizzards. Planning for weather events should be very realistic in nature. Major weather events usually occur in 25, 50 and 100-year cycles. Disease outbreaks are also a big threat. A potential flu pandemic could be detrimental to many businesses. For example, the bird flu pandemic scenarios that are floating around are being modeled on the Spanish flu pandemic of
2007 Economic Crisis on American Car market Effect of the 2008 global economic crisis on automotive industries Crisis in the United States Crisis in Canada Crisis in Russia Crisis in European markets Crisis in Asian markets Effects by other related crisis events In this paper, we will review the effects of 2008 global automotive crisis. Our main focus will be on the American car manufacturers and the negative impact they suffered due to the crisis. We will
The definition of democracy intensifies the ideals of the individual, as it regards the individual as a very important cog in the wheel of representation. In fact as the work points out the collective idea of social unrest lies not in individualism but in the fact that the individual ideal was to strong for third world political institutions to bear up under. (30) Yet, the individualistic ideals of today's society,