Presenting Rory Sutherland as a Hero of Advertising Essay Example

Presenting Rory Sutherland as a Hero of Advertising Essay Presenting Rory Sutherland as a Hero of Advertising BY Jaymes2510 James Essex Presenting Rory Sutherland as a Hero of Advertising Word Count: 1133 Words Born in 1965 in a small town called Usk, Monmouthshire, Rory Sutherland has rose through the ranks in the advertising industry to become one of the most influential fgures in advertising (The Marketing Society, 2013). Rory began his studies at his local school Haberdashers, and then on to further his studies at Christs College, Cambridge. During school, Rory was a mischievous child. His brother recalling a ituation in which, in Rorys Latin class the teacher wondered whether he had time for a new exercise. *dow much time have I got? the master muttered to himself as he looked at his watch. Not long unless you give up smoking, Sir, was Rorys response. (The Wiki Man, 2011) This sense of foolishness and carefree attitude seems to have followed Rory into his later life, work and has possibly made him the influential fgure he is today. Rory seemed to be following in the footsteps of Sir Martin Sorrell from an early age, however it seems that the rebellious attitude seemed to diminish the similarities egan teaching at a grammar school in Aylesbury. This would not last long however. The contents of the staff room proved too depressing to bear (Ogilvy, 2013). After applying to numerous advertising and marketing Jobs, Rory finally landed a position at Ogilvy Mather Direct where things did not improve, Paul ODonnell, chairman of Ogilvy Mather saying he was without a doubt the worst graduate trainee we ever hired (The Wiki Man, 2011). We will write a custom essay sample on Presenting Rory Sutherland as a Hero of Advertising specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Presenting Rory Sutherland as a Hero of Advertising specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Presenting Rory Sutherland as a Hero of Advertising specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Rory had many Jobs at Ogilvy and it seemed like he was terrible at all of them. Rory always had a keen eye for seeking out new developments in technology and making se of them. Rory Joined the agency at the brink of a technological boom, when computers and the Internet were starting to advance rapidly. When Ogilvy got a new information machine called MAID, (a piece of equipment that would give answers to questions being typed into it), they had no choice but to let Rory use it, as he was the only one that knew how. Paul ODonnell (2011) stated that this was the worst thing they could have let Rory do. Instead of actually planning, he would sit in front of the machine typing in question after question, looking at the answers and saying fascinating, fascinating. After being moved from account management to planning, and then being fired from that, it seemed like there was no hope for Rory. That was until an outcry across the office forced them to give Rory one more chance. He was moved to the creative department and flourished. Within five years Rory was made Executive Creative Director. Rory has become an expert on behavioural economics and believes advertising and marketing must be seen as a science. In a TED Talk filmed in Athens, Rory talks about how Perspective is everything and how much too time is spent looking for technical engineering solutions and not enough time ooking for psychological solutions. Using the following example where he talks about the Eurostar Journey times, he sums his statement up perfectly: Six million pounds spent to reduce the Journey time between Paris and London by about forty minutes. For maybe ten percent of the money you could have paid all of the worlds top male and female supermodels to walk up and down the train, handing out free Chateau Petrus to all passengers. Youd still have five [million] pounds in change and people would ask for the trains to be slowed down. (TED Talks, 2012) This is a brilliant example of the creative and knowledgeable way Rory looks at the dvertising industry and using this insight, he has launched a new initiative called #ogilvychange. Founded by Rory himself and Director of Strategy Integration Jez Groom, #ogilvychange uses leading research in cognitive psychology and the communication expertise of Ogilvy to create a new way of advertising, to change the minds and behavior of the consumers in a way that makes advertising much more effective. Rorys view of looking at advertising and marketing as purely a science rather than an art form is not brand new however. In 1923, Claude C. Hopkins published his book advertising and the need to target the man rather than the masses. In other words, advertising that targets a large quantity of people is going to be less effective than advertising that focuses on targeting an individual, finding out the way they think and targeting a more psychological advertising campaign towards them using a scientific approach. In his book, Claude Hopkins says: Dont think of people in the mass. That gives you a blurred view. Think ofa typical individual, man or woman, who is likely to want what you sell. Dont try to be amusing. Money spending is a serious matter (Scientific Advertising, 1923) Rory seems to be carrying on this scientific approach to advertising, working with big lients such as British Airways, British Gas, IBM and many more to change the way people think and behave. Rory has championed the behavioural economics agenda at Ogilvy Mather and working with a team of experts, he will oversee the future of Looking at Rory Sutherland, as a hero of advertising at the present moment may be slightly difficult to comprehend, after all, Claude Hopkins pioneered the idea of scientific advertising and as such, shaped the way advertisers target their consumers. As a personal opinion, I would argue that Claude Hopkins has made much more of a contribution to advertising in the behavioural economics and sychological advertising segment and is therefore more worthy of the title Hero of Advertising. However if we look at the work Rory Sutherland is currently undertaking at Ogilvy Mather, the use of his understanding of behavioural economics and psychological advertising to create a whole new agenda for the company, #ogilvychange, I can not say that he has had no contribution to the advertising industry. His skills speak for himself; his bubbly and rebellious attitude from a young age has made him a charismatic person and as such, he has managed to rise through the ranks at Ogilvy Mather at a substantial rate. Perhaps this is why he has such an understanding of behavioural economics and consumer psychology, because he can relate to the consumer on a human level. As such, although Rory Sutherland may not be worthy of the title Hero of Advertising at the present moment in comparison to such pioneers as Claude Hopkins, I can see the use of his understanding of consumer psychology and his founding and running of #ogilvychange putting him in a prime place to soon become a Hero of Advertising. Hopkins, C. , 1923. Scientific Advertising [online] Available from: http:// www. scientificadvertising. com/ScientificAdvertising. f [Accessed October 2013] The Marketing Society, 2013. Ogilvy and Pimp My Cause partnership [online] The Library. Available from: https://www. marketingsociety. co. uk/the-library/ogilvy-and- pimp-my-cause-partnership [Accessed October 2013] #ogilvychange, 2013. Little Ideas From Big Thinkers [online] #ogilvychange. Available from: http://www. ogilvychange. com/ [Accessed Octob er 2013] Ogilvy Mather. 2013. Rory Sutherland. [online] Available from: http:// www. ogilvy. co. uk/our-people/rory-sutherland/. [Accessed October 2013] Ogilvy Mather. 2012. Ogilvy Mather UK Launches new Behavioural Sciences Practice [online] Available from: http://www. ogilvy. co. uk/blog/ogilvy-mather-uk- launches-new-behavioural-sciences-practice/ [Accessed October 2013] Ogilvy Change, 2013. An Introduction to #ogilvychange [video, online] Available from: http://www. youtube. com/watch? v=PYoD1 IWEYpg [Accessed October 2013] Sutherland, R. , 2011. The Wiki Man [online] London: Its Nice That and Ogilvy Group Ted Talks, 2012. Rory Sutherland: Perspective is Everything [video, online] Available from: http://www. ted. com/talks/rory_sutherland_perspective_is_everything. html [Accessed October 2013]

When to Hyphenate - Proofeds Academic Writing Tips Blog

When to Hyphenate - Proofeds Academic Writing Tips Blog When to Hyphenate Hyphenation is a term for linking two words with a hyphen to make a compound word. In this context, compound simply means two separate words have been joined together. Compound Adjectives Compound adjectives are formed by joining two words (e.g., good-looking, power-hungry or accident-prone). Further examples include: Free-range Part-time Long-term Well-known Compound adjectives can be composed of more than two words, making them more like phrases: Tongue-in-cheek Happy-go-lucky Devil-may-care Compound adjectives like these should only be hyphenated if they appear before what they are describing in a sentence. For example, the compound adjective in The well-known artist Whistler†¦ could also be used without a hyphen later in the sentence: e.g., The artist Whistler was well known†¦ Compound Nouns and Verbs It is more difficult to know when to hyphenate nouns and verbs. In many cases, it is simply a matter of convention (e.g., mother-in-law). The best thing to do with these terms is check a dictionary. If you find a term where the hyphen is optional, your main guideline should be consistency. Many words that begin with the prefixes non-, pre-, de- or re- are hyphenated, but this is only necessary when it prevents a letter clash. For example, we hyphenate re-evaluate because evaluate starts with the same letter that precedes it. But we do not hyphenate retry because there is no letter clash. This isnt always true, but it is a good rule of thumb (and you can always check a dictionary if youre not sure about a word). Hyphenating for Clarity In some cases, we also use a hyphen to ensure clarity. Omitting a hyphen can even change the meaning of some sentences. For example: I once saw a man-eating crocodile. I once saw a man eating crocodile. The first sentence here describes a crocodile as man-eating (i.e., a crocodile that eats humans). The second, non-hyphenated sentence describes a man eating crocodile meat. Rules about which words should be hyphenated can very between institutions, though, so be sure to double check your style guide. If you would like to have your paper checked for style, grammar and formatting errors, make use of Proofed’s specialist academic proofreading service.

Achievements of the EU

Achievements of the EU Mao Julin Hay Jean Leang Pisey Kim Chansreynich Hao Kanhamonisopea Bun Kimsour European Union (EU) is a union formed by mainly European countries, which is established in term of economy and politics. Its origin is European Community that formally created in November 1, 1993 which involves with 6 members-Belgium, Germany, France, Italy, Luxembourg and Netherland. Nowadays, there are 28 members. EU’s headquarter is located in Brussels, Belgium. So far, European Union has reached many achievements such as the promotion and expansion of cooperation with its Member States in economic, trade, social issues, foreign policy, security, defense, and judicial issues. Another major accomplishment of EU is the Economic and Monetary Union (EMU) that makes EU succeed in having a single currency (EURO) along with a common monetary policy. EU is famous for its economy on which many countries around the world are being focused. Economic integration is one of the main goals that EU has considered since its first establishment in 1957, and it has a significantly visible success based on fundamentally by a single currency-the Euro. It is a common currency in the circle of euro area that recently can facilitate the monetary circulation in 18 countries of the member states. Interestingly, its achievement of becoming the second largest currency of the world after dollars has pushed the European community’s economy to flourish further. Euro contributes to maintain the stability and prospect of economic society climate, which attract more investment and international or regional trade through the convenient calculation without involving with the foreign exchange rate. The common monetary policy has been adopted in order to acquire greater achievement, common objective and ensure benefits of all euro area states that use euro as their currency. In addition, cross-border trade and investment are the ultimate goal of Euro zone countries. EU removed trade barri ers in order to facilitate the flow of goods and services, which can fill in each other’s gap between the Member States. The common purpose is to increase competition and take away all restriction obstacles of the free movement of goods in the Common Market so that they can accelerate the economic development. The mobility of products, goods and capital facilitate human consumption within the region. Moreover, the free movement of capital is intended to permit movement of investments such as property purchase and buying of shares between countries. All intra-EU transfers in euro are considered as domestic payments and bear the corresponding domestic transfer costs. Another EU achievement is a so-called Custom Union, which was established in an attempt to adopt the common arrangement for imports from other countries based on common external tariff, provides to all members. This effort is made to develop the world trade and facilitate trade beyond border from all countries arou nd the world. What is more important about its achievements is to establish a society with the same rule for different nationalities; for example, people from each country in the name as membership of EU can possibly travel and move freely to settle down, work, retire, or vote, either permanently or temporarily, without any discrimination. For students who want to experience cross-border education. Thousands of students from EU citizen can get a common standard of education simultaneously experience intercultural understanding and good condition of living and studying in other European member states annually. Due to common passport creation, it has been granted to EU people in order to be indicated as EU citizen and move freely.

Wireless microphone Essay Example | Topics and Well Written Essays - 750 words

Wireless microphone - Essay Example In this scenario, Moores attached the wireless transmitter inside the clothes used by the character Abanazar, and it was an excellent experiment which worked exactly according to plan. However, Moores could not get a patent for his idea for the reason that he was not legally making use of the radio frequency 76 MHz. Hence, it was decided by the producers of the ice show that they would stop making use of this wireless device; and instead of this device they would employ singers and actors in order to perform using secret microphones for dubbing voices of the other ice skaters in order that they could be freed to focus on their skating (Boly Electronics., 2010). In addition, Moores mentioned his prototype of 1947 in the Science Museum in London in the 1972. Since the first usage of wireless microphone it is being used in different forms in different places. A model of wireless microphone introduced in 1958 was manufactured by Sony which was called Sony CR-4 in 1960 and this wireless microphone was being suggested for nightclub acts and theatre performances. As mentioned above, a large number of manufacturers and individuals claim that they are the actual inventors of wireless microphone. In this scenario, Beyerdynamic that is a German equipment manufacturer, claims that the first wireless microphone was transistophone which was invented by Hung C. Lin., However, it appeared in the public in 1962. In addition, in 1964 wireless microphone was used for the first in a film in order to record sound while filming a motion picture in the 1964 film My Fair Lady. First compander wireless microphone came with Wider dynamic range in 1976, which was pr oduced by Nady Systems. Additionally, The Rolling Stones and Todd Rundgren were the first famous musicians that made use of these systems during a live concert. In 1996, Nady, Sennheiser, CBS and Vega got a combined

DEVELOMENTAL SOCIAL PSYCHOLOGY - METHODOLOGIES OF CHILDHOOD PREJUDICE Essay

DEVELOMENTAL SOCIAL PSYCHOLOGY - METHODOLOGIES OF CHILDHOOD PREJUDICE - Essay Example vities of young children within the social setting in which they find themselves impress meanings upon them more profoundly than through their intellectual grasp of their surroundings (2003). Methods used by researchers have been chosen in order to probe the areas in which social conditioning occur, as well as to detect the social representations given different objects and interactions that can be found or are known to occur in different environments. Their experiments have captured empirically the results of this kind of social representation by facilitating children and adults’ precise designation of the gender to which objects are believed to be best associated. Through this they have demonstrated the different levels at which this type of social conditioning occurs, as well as the prejudices that result and that become evident at different stages of children’s development. Developmental psychologists have theorised that gender assumptions, beliefs, values and prejudices become embedded through the social representations that are available to them in their environment (Sanders, 2003). Ideas about the behaviours and expectations of males and females are learned in ways similar to those in which people learn colour and speech: through interaction with others in the social settings in which they find themselves. These ideas are learned socially and then internalised, and it is these ideas that compact together to form the gender prejudices that are displayed in children. After this period of internalisation, the attitudes and behaviours displayed by persons become unconsciously imbued with these beliefs and their expression of them causes their inculcation in future generations. The method of research by Lloyd and Duveen (1993) has demonstrated the high likelihood of identities to become formed through socialisation that occurs within a specific group. This has highlighted the diversity that exists among the identities that children have expressed, but in

The importance of business communication Essay Example for Free

The importance of business communication Essay The importance of business communication Treat others as you want to be treated Please think before you print When you think about these two quotes you will find a lot of meanings. something happens In your life around you, about the relations and communication and how to deal with others not Just on business also in your general life, so it is too important to learn how to communicate. communication Is the process of transmlttlng Ideas, thoughts, information, opinions, and plans between various parts of an organization r sometimes to those on the outside of an organization who are interest In the business and need to know the Information. Communication is one of the most basic functions of management in any organization. Its Importance can never be over emphasized. The presence of business communication ensures that there is a sense of professionalism in the business. Good communication means your message is being sent and those receiving it clearly understand It In its entirely. Because of this, the receiver will more likely respond to It In a positive manner. When this occurs, it means the message was communicated effectively. A customer who receives poor communication from an employee will most likely have an unfavorable response to a company. The reason for this could be because the person listening does not possess a clear understanding of what the person doing the talking is actually saying. Perhaps the request is unclear. or maybe the person listening did not pay close enough attention. Human relations cannot be present without communication. Good and effective communication is required for oth personal relationships and successful business relationships. You can use business software and other popular applications for writing communications, or you can utilize the telephone and In-person methods for the spoken part. No matter how you communicate, make sure there is both talking and listening going on and that you take the time to caretully consider what is being said to you. All three forms of communication are important to a business. The written communications can serve as d record of sorts while the phone conversations can acilitate the beginning of a great business relationship. The in-person communication will also help to further promote the business principles as well as the products. Face-to-face communication is especially important between companies and their customers. This is what keeps them coming back time and time again and what can place the business In the forefront of many situations that are perfect for acquiring and maintaining customers Effective cornrnunlcatlon In business helps better understand d person or situation, nables us to resolve important differences, and builds trust and respect.

Hatchet :: essays research papers

I read a Book called Hatchet. Brian Robeson had divorced parents, goes on a flight to see his father in the Canadian wilderness. This is Brains first time in an airplane. He explains this to the pilot and tells him that he is scared. The pilot feels sorry for Brian and decides to show him that flying is not hard. He lets Brian take the steering control and lets him steer for awhile. Just when Brian thinks that everything is going well, the pilot has a heart attack and dies. Brian knows he must land the plane himself or die. He tries to use the radio, but it diddn't work. He knows that if he hits the trees he can die. So he decides to land in the water of a lake. When he lands in the water. He gets out through a window. He sat on the bank of the lake for a while to rest. Brian knew he needed food and shelter to survive so he left to find both. He diddn't want to go too far from the lake where his water was, or he might get lost. He found a cherry tree and he ate some because he was hungry. He filled his windbreaker with cherries to eat later and then found a cave to stay in. He slept good, but in the morning when he woke up, he saw a bear in the cave. He was scared, because the bear was only about 20 feet away eating his cherries out of his windbreaker. The bear only looked at Brian and then left. The cherries must have been enough to full him up. The discovery of how to make a fire was very important to Brains survival. He needed to have a fire at the front of the cave to protect him from wild animals, and to signal for help.A porcupine came into his cave. It was dark in the cave and he heard something moving. He knew it was alive, but he diddn't know what it was. So he kicked it. Then the quills shot into his foot and then he knew it was a porcupine. He was in hurt, and knew he could not touch it. He threw his hatchet, and it hit the rock of the cave instead of the porcupine, and it made a spark. He knew how to make the spark.

Effects of Tv on Children

We have all heard the incessant reports about the damaging effects of too much time spent in front of a television. The bad habit of watching hour after hour of television usually begin early in a persons life and people who have the habit of spending a lot of time watching too much TV are usually overweight. They also end up with other weight related problems during their life. Watching TV is especially harmful for small children. A study shows that when toddlers watch too much TV, they are more likely to have attention problems later on during their childhood and possibly for the rest of their life.This can have an impact on how well a child is able to perform in school and in other areas of their life. Allowing the television to be a baby sitter for your infant is not a good idea. The long hours of watching cartoons can be better spent doing some other activity. When I was a child a had a very small patch of the yard that I turned into a garden. I took dry beans from the packs in the kitchen and planted them in the garden. It was a wonderful feeling to watch them grow from a bean to a plant.We never ate anything from my garden, but having it gave me something to look forward to outside of the house, instead of doing nothing but sitting in front of the TV all day. Even today, more than 30 years later, I still do not watch (much) TV. There are a lot of TV stations that show programs that are very educational and a person can benefit from these programs. But, a child under the age of three should not be allowed to sit in front of the TV for a long time, the study states that no more than 30 minutes per day is enough. The long stream of continuous violence shown on TV has a negative effect on a child and adults, as well.Watching hours of violence, fast food commercials and the other nonsense – will have an adverse effect on anyone who watches it. It is not good to live in a society that doesn't blink an eye when someone has their head blown off. When you allow the television to raise your children, by the time they are 21 years old, they would have seen hundreds of thousands of violent, dehumanising acts on the screen. What could the after effects of that produce? How long should your child watch TV per day, you decide. Just be prepared to deal with the consequences of too much TV.

Computers †A Boon or Curse Essay

In my opinion computer is a boon to the mankind. Dear friends can you imagine the world without computers. It would be like the life a 100 years back. Would you accept that life? Today we enjoy such a comfortable life, don’t we owe this to computers. Look at the way the computers have a role to play in our life. Today when we get up in the morning and want to read the newspaper, internet permits us to read the latest news of any newspaper in the world. Before going to office we can check the mails and also reply them instantly. There is no need for physical mail, paperwork and delays. In the office computers help us to connect with the various locations and discuss with them any problem at a time through videoconferencing. Earlier to deposit or withdraw money one had to go to bank and stand in a queue, but today we can do this online through wire transfer or ATM. Not only that but we can purchase anything from the shops through Credit or Debit Cards. No need to carry physical cash. Look at the railway or flight reservations. No more agonizing pain of standing in queues for hours. Today you can book any ticket of any flight in the world at the click of a button. Even hotels booking can be done online. In the field of education computers have simplified the learning process, we have CD’s of reputed faculty, additionally, internet allows browsing any book or tutoring from the experts in the field. You can even solve any query you have. In the field of medicine, computers help doctors in operations, accuracy and clear diagnosis of a disease. Computers also help in data logging, data backup and easy data transfer. Complicated mathematical and statistical  problems can be solved in few seconds. Thus there is no field untouched by computers today. Computers thus have saved our precious time, energy, space and improved the living standards and life of mankind. So Computer is a boon to mankind

Sex Ratio by Geography

Sex Ratio by Geography Sex ratio is the demographic concept that measures the proportion of males to females in a given population. It is usually measured as the number of males per 100 females. The ratio is expressed as in the form of 105:100, where in this example there would be 105 males for every 100 females in a population. Sex Ratio at Birth The average natural sex ratio for humans from birth is approximately 105:100. Scientists are not sure why there are 105 males born for every 100 females around the world. Some suggestions for this discrepancy are given as: It is possible that over time, nature has compensated for males lost in war and other dangerous activities to better balance the sexes. A more sexually active gender is more likely to produce offspring of their own gender. Thus, in a polygamous society (polygamy where one man has multiple wives), he is likely to have a greater proportion of offspring that are male. It is possible that female infants are under-reported and not registered with the government as often as male babies. Scientists also say that a woman with a slightly over average amount of testosterone is more likely to conceive a male. Female infanticide or the abandonment, neglect, or malnutrition of female infants in cultures where males are favored may occur. Today, sex-selective abortions are unfortunately common in countries like India and China. The introduction of ultrasound machines throughout China in the 1990s led to a sex ratio of up to 120:100 at birth due to familial and cultural pressure to have ones only child as a male. Shortly after these facts became known, it became illegal for expectant couples to know the gender of their fetus. Now, the sex ratio at birth in China has been reduced to 111:100. The worlds current sex ratio is somewhat on the high side – 107:100. Extreme Sex Ratios The countries that have the highest proportion of males to females are... Armenia – 115:100Azerbaijan – 114:100Georgia – 113:100India – 112:100China – 111:100Albania – 110:100 The United Kingdom and United States have a sex ratio of 105:100 while Canada has a sex ratio of 106:100. The countries with the lowest proportion of males to females are... Grenada and Liechtenstein – 100:100Malawi and Barbados – 101:100 Adult Sex Ratio The sex ratio among adults (ages 15-64) can be highly variable and is based on migration and death rates (especially due to war). Into late adulthood and old age, the sex ratio is often highly skewed toward females. Some countries with very high proportions of males to females include... United Arab Emirates – 274:100Qatar – 218:100Kuwait – 178:100Oman – 140:100Bahrain – 136:100Saudi Arabia – 130:100 These oil-rich countries import many men to work and thus the ratio of males to females is highly disproportionate. On the other hand, quite a few countries have far more females than males... Chad - 84:100Armenia – 88:100El Salvador, Estonia, and Macau – 91:100Lebanon – 92:100 Senior Sex Ratios In later life, the life expectancy of men tends to be shorter than women and thus men die earlier in life. Thus, many countries have a very high proportion of women to men in the over age 65 range... Russia – 45:100Seychelles – 46:100Belarus – 48:100Latvia – 49:100 On the other extreme, Qatar has a 65 sex ratio of 292 men to 100 women. That is the most extreme sex ratio currently experienced. There are nearly three old men for every old woman. Maybe countries should begin to trade an over-abundance of elderly of one gender?

Applying Anthropology Paper Essay Example | Topics and Well Written Essays - 1000 words

Applying Anthropology Paper - Essay Example This is an English Second Language (ESL) program designed to increase the English proficiency of Mexican immigrant children so that by the time they reached high school age they could be successful in a unilingual English instructional setting. The other articles (Smith-Hefner) in 1988 and 1989 describes efforts in the Boston area for Khmer children from Cambodia to be provided instruction in their native language as well as English for 3 or 4 years again until they were deemed sufficiently proficient in English to benefit from mainstream unilingual English instruction. The data from the studies showed that language use preferences of both immigrant groups were strongly linked to aspirations of success in mainstream American society. Although they showed some degree of pride in their respective cultural heritages, there was also the realization even among children (implicitly if not consciously) that a high degree of proficiency in English As well as at least some acceptance of American social norms was essential to thriving in their new homeland especially in attaining higher socioeconomic occupations. In the Fuller study the parents of the 4 Mexican heritage children had mixed views of the importance of education, but the children expressed uniformly strong evaluations of it at least on a lip service level. .The 2 girls as time progressed tended to use more English in conversations with adult teachers and with each other as best friends. The 2 boys tended to use more Spanish especially to each other even though they were at least as proficient in English as the girls. This reflects that although they recognized the importance of English fluency in their future endeavors as breadwinners, they were more conscious of maintaining their Mexican heritage in their social relations than the girls. The Smith-Hefner study states that most Khmer parents placed a high value on both the acquisition of English fluency and

Midterm paper in microeconomics Case Study Example | Topics and Well Written Essays - 1000 words

Midterm paper in microeconomics - Case Study Example This can be presented in a graph as follows: Figure 1: Graph Presenting the function, Y = F (K, L) = AK0.4L0.8 (b) In order to break even, one should hardly be worried about the production size since size is hardly the only factor that influences production. Again, fixed costs are not related directly to a firm’s level of production. Break-even involves the point at which both variable and fixed costs would be recovered, implying that production size is not a major factor to consider in this case. Answer to Question 2 This is a case of two firms that compete in a sequntial game, where each firm chooses prices as its strategic variable.Firm 1 make the choice of price p1, first, while firm 2 chooses p2 later. Each of the two firms has a marginal cost of 20. The assumption in this case is that a consumer is loacted at point x, x being the distance from firm 1, and obtains some utility after buying from either of the two firms. Such functions are as below: U1 = V – p1 †“ 16x U2 = V – p2 – 16 (1 - x) Given that V is a constant, which is so large that it could cover the entire market: (a) The best response for firm 2 would require that the firm looks ahead to its initial decision. It would then assume that given that it comes to that point, firm 1 will choose the optimal outcome of firm 2; in this case, the highest payoff in terms of price. Secondly, firm 2 would have to back up to its second all the way to the last decision. It would assume that firm 1 would opt for high prices (Peterson, 39). The firm would continue reasoning back in the same way until all its decisions are fixed. Such decision could be presented in a (p2; p1) space as follows: V = U2 + p2 + 16 (1 - x) V= U1 + p1 + 16x Thus, U2 + p2 + 16 (1 - x) = U1 + p1 + 16x U2 + p2 + 16 = U1 + p1 + 32x Since the two firms are competing sequentially, the market equilibrium price is the point where p1= p2 since all firms would ultimately have to lower their prices in order to att ract as many customers as possible (Peterson, 39). (b) The equilibrium price is p1 =p2 =20. The profit for firm 1 is Yp1 – 20c while that of firm 2 is Yp2 – 20c, where Y is the total output and 20c is the total cost which is constant for the two firms. (c) Equilibrium price is 20. The market share for firm 1 and firm 2 are x and (1 – x) respectively. Answer to question 3 The following data was obtained from Rema Store. (1) The name of the store is Rema Grocery Store. The type of cheese in the store, the prices per kilogram and the brand of cheese including the unit size are as shown in the table above. (2) Based on the various brands, unit sizes, and price per kilogram for each brand, it is easy to propose price discrimination scheme. The price discrimination scheme could explain more about the stores and the brands of cheese sold. The best price discrimination scheme for the products is the first degree of price discrimination. In this case, the seller would se ll various product brands of cheese at different prices. The scheme would require that the seller knows the reservation price for each of the brand sold. Once the seller identifies the reservation price for each brand, he or she is able to sell the different brands of cheese to the consumers at the maximum prices possible. Customers hardly consider quantities but their perception of quality is based