Achieving National Income Equilibrium - Free Essay Example

Sample details Pages: 5 Words: 1354 Downloads: 1 Date added: 2017/06/26 Category Economics Essay Type Argumentative essay Level High school Did you like this example? Examine why fiscal and monetary polices might be used by government to achieve National Income Equilibrium, and discuss the impact of these policies on the house-building cycle The government uses two types of policies to evaluate economic activity and set interest rates in balance with inflation and deficiencies. It is a governmental orthodox that housing market play a significant role in the structuring the economic stability and causes inflation consequent of low prices. According to an economic research, rise in construction costs and uncertainty in housing investment is the real cause of two-third decrease in house construction cycles since 1970. Fiscal policy is used in evaluation of economic activity, to assess the level of taxation requirement, and establishing what fraction of taxation will be spent on public expenditure. There are two types of fiscal policy: expansionary and deflationary fiscal policy. Under the expansionary fiscal policy, the gove rnment aim is to encourage greater spending to boost the economy. Conversely, deflationary fiscal policy aim to assist in the reduction of inflation through decease in the level of economic demand (1). Fiscal policy is used by government as an instrument to control economics and to support monetary policy. Conversely, fiscal policy aims to preserve the growing of the economy along with the perseverance of low level of unemployment. In the event of excessive debt or deficiency, fiscal policy will face difficulty to operate accurately. Whereas, monetary police is used for assessing à ¢Ã¢â€š ¬Ã…“the supply of money and interest rates to achieve desired economic policy objectivesà ¢Ã¢â€š ¬Ã‚ 2. If the economy is in recession, the government would aim to boost economic activity, through expansionary monetary policy by reducing interest rates whereby growth of money supply will increase. Adversely, if there is a need for reduction in economic activity, due to fast growth causin g inflation, the government will put in operation deflationary monetary policy to increase interest rates and reduce rate of growth in money supply. In broad terms, most of the problems adversely effecting the economy of Britain, over à ¢Ã¢â€š ¬Ã…“the last fifty years, have been led or influenced by housing marketà ¢Ã¢â€š ¬Ã‚ 3. To particular degree, there has been an unacceptable imbalances in the large demand for housing along with the limited supply of housing, consequent to the fluctuating housing market. In the contrary, the housing market remains strong, as alertness for economic recovery continues to be at the core of alleviation of the housing market, in parallel with the economy. A sudden increase in house prices à ¢Ã¢â€š ¬Ã…“came to a screaming peak in 1989à ¢Ã¢â€š ¬Ã‚ 4. Subsequently, the economy halted and the interest rates increased dramatically to 15% to compensate for the rise in inflation and to shield the British currency. Escalation in net savin gs was triggered by the dramatic stagnation in house prices. In the event of continuous decline in house prices, the economy inevitably faces growth in recession in parallel with the anticipated decrease in lending. Substantially, this will result in a collapse of the economy, giving rise to increased levels of unemployment and economic diminution 5. Government is proposing à ¢Ã¢â€š ¬Ã…“new measures to increase the supply of housing, promote flexibility in the housing market, and streamline and simplify the planning regimeà ¢Ã¢â€š ¬Ã‚ 6. The interaction between housing and the economy is pervasive. Fluctuation of house prices, contribute significantly on consumersà ¢Ã¢â€š ¬Ã¢â€ž ¢ expenditure. à ¢Ã¢â€š ¬Ã…“The responsiveness of new housing construction to demand changes is weakà ¢Ã¢â€š ¬Ã‚ 7. Fall in house prices attract construction then rise in prices; this is the factor which resulted in recent recession in construction. National Income is the total annual income of a state, consisting of employee wages and the profits of companies. Conversely, national income equates à ¢Ã¢â€š ¬Ã…“to the value of the output of all goods and services during the same periodà ¢Ã¢â€š ¬Ã‚ 8. In wider terms, national income is valued by gross national product (GNP) which is the amount of a countrys total output subtracted by à ¢Ã¢â€š ¬Ã…“an allowance for replacement of ageing capital stockà ¢Ã¢â€š ¬Ã‚ 9. The primary factors effecting the construction industry have been the rise in building materials, profitability of development, interest rates and the economic growth as opposed to land prices which à ¢Ã¢â€š ¬Ã…“had little effect on the number of new houses being builtà ¢Ã¢â€š ¬Ã‚ 10. The evidence from a recent research of the house building cycle, have proved that private building activity such as building of offices, warehouses and shops operate relatively different and move in opposite direction to a house building cycles. Hence, this i ndicates the adverse reflection on new levels of housing caused à ¢Ã¢â€š ¬Ã…“by other private sector building crowding out house buildingà ¢Ã¢â€š ¬Ã‚ 10. Inevitably, depreciation in one sector is inadvertently means withdrawal of supply from the other sector. Furthermore, the impulsiveness of construction costs renders it more competitive for house builders to challenge with other sectors, in parallel lines. The current situation is that overall national economic fluctuations appear to synchronise with the fluctuations in housing investments. Whereas, in early 1970s, the economy stabilised as the fluctuation in national economy did not coincide with the changes in housing investment 11. Adversely, there are other problems facing house building as à ¢Ã¢â€š ¬Ã…“we are running out of land suitable for new housingà ¢Ã¢â€š ¬Ã‚ 12 (Kelvin Hopkins the UK Parliament). Nevertheless, government is planning to tackle this recession in the economy caused by downturn in house bui lding cycle. In effect, increase in housing investment effectively improves national income. Since the housing market is in the era of recession, the government got its hands full as it faces the reality of decline in national income. National income has faced a large decline as the house prices rise along with interest rates decreasing demand for house building market. According to relevant figures, à ¢Ã¢â€š ¬Ã…“since 1960, the UK has invested a lower proportion of its national income in housing than any other EU countryà ¢Ã¢â€š ¬Ã‚ 13. On the one hand of the spectrum, the governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s goal to set high interest rates as a means of controlling inflation. On the other hand, this is clearly exposing prospective house investors to high interest rates which à ¢Ã¢â€š ¬Ã…“contributes to making the UK housing market much more volatile, which itself adds a potential volatility to the wider economyà ¢Ã¢â€š ¬Ã‚ 14. In conclusion, it is the time of volatility f or the house building market as the government stretch its legs to establish the exact fiscal and monetary policy for the development and stability of our economy. However, it is the house building cycle, which is paying a high price for the increased interest rates in mortgages, as public demand in the housing market is threaten by increased house prices. In Fact, there is no easy solution for this, expect from anticipation of interest cuts and reduction in cost of construction materials. 1 https://www.bized.ac.uk/cgi-bin/glossarydb/browse.pl?glostopic=0glosid=601 2 https://www.bized.ac.uk/cgi-bin/glossarydb/browse.pl?glostopic=0glosid=601 3 https://politics.guardian.co.uk/speeches/story/0,11126,1240803,00.html 4 https://politics.guardian.co.uk/speeches/story/0,11126,1240803,00.html 5https://politics.guardian.co.uk/economics/story/0,11268,1557801,00.html 6 https://www.hmrc.gov.uk/budget2003/pn01.htm 7 https://www.jrf.org.uk/knowledge/findings/housing/H122.asp 8 https://www.tiscali.co.uk/reference/encyclopaedia/hutchinson/m0010970.html 9 https://www.tiscali.co.uk/reference/encyclopaedia/hutchinson/m0010970.html 10 https://www.jrf.org.uk/knowledge/findings/housing/H173.asp 11https://www.jrf.org.uk/knowledge/findings/housing/pdf/H173.pdf 12https://www.parliament.the-stationery-office.co.uk/pa/cm200506/cmhansrd/cm050526/debtext/50526-20.htm 13https://www.hmtreasury.gov.uk/newsroom_and_speeches/speeches/chiefsecspeeches/speech_cst_040204.cfm 14https://www.hmtreasury.gov.uk/newsroom_and_speeches/speeches/chiefsecspeeches/speech_cst_040204.cfm BIBLIOGRAPHY https://www.cityoflondon.gov.uk/NR/rdonlyres/AF9D826A-A1BB-4E08-BCCB-A0B942229582/0/BC_RS_londonsplace_0209_ES.pdf https://www.bized.ac.uk/cgi-bin/glossarydb/browse.pl?glostopic=0glosid=601 https://politics.guardian.co.uk/speeches/story/0,11126,1240803,00.html https://politics.guardian.co.uk/economics/story/0,11268,1557801,00.html https://www.hmrc.gov.uk/budget2003/pn01.htm https://www.jrf.org.uk/knowledge/findings/housing/H122.asp https://www.jrf.org.uk/knowledge/findings/housing/H173.asp https://www.jrf.org.uk/knowledge/findings/housing/pdf/H173.pdf https://www.parliament.the-stationery-office.co.uk/pa/cm200506/cmhansrd/cm050526/debtext/50526-20.htm https://www.hmtreasury.gov.uk/newsroom_and_speeches/speeches/chiefsecspeeches/speech_cst_040204.cfm https://www.hmtreasury.gov.uk/newsroom_and_speeches/speeches/chiefsecspeeches/speech_cst_040204.cfm Don’t waste time! 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Mobile Computing And The Creation Of The Internet

Mobile computing, a term that didn’t come around till sometime between the 1960s and 1970s, is the use of the internet and computer based applications on the go. It is using your phone to search something online, using your tablet to make changes to a PowerPoint before you go into your meeting, and sharing multimedia online through your social media. There have been many leaps within the technological world that has brought society to where it is today. From the creation of the cell phone to the creation of the internet itself, humans have become more digitally connected with each new advance. Mobile computing was the next step in the grand scheme of technology. In comparison, education has always been a stickler for the removal of†¦show more content†¦There have also been so many additions and creations to software and hardware that spikes productivity within the educational and business world. 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The Hip Hop Culture Essay - 2107 Words

You’re standing in a crowd amongst thousands of fans at an Eminem concert, people from all over, shoulder to shoulder in a massive stadium, singing along every word of their favorite song for hours. People from all over are connected to each other through the power of music. When it comes to music, the life experiences, inspiration, and current events play a tremendously significant role. Hip hop is a form of art which can be expressed through rap songs, break-dancing, and graffiti art. The culture has become so popular that it has entered today’s fashion and modern language. Hip hop music is an extremely large part of today’s generation and a global genre, which influences the generation all over the world. The culture has entered†¦show more content†¦Hip hop music was much different music from the one heard on the radio. These disk jockeys were innovating a style that was popular in Jamaica. 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Services and Relationship Marketing for Customers - myassignmenthelp

Question: Discuss about theServices and Relationship Marketing for Customers. Answer: Introduction Virgin Australia is a popular airline company of the country Australia. It has been founded in the year 1999. From 1999 to till now the services of this organization has impressed the customers. The head quarter of the airline has been situated in Bowen hills(Kleinschmidt, 2017). The service of this company has been planned successfully as well as the overall culture of the service has made to satisfy the customers. The airline has a well-integrated back-stage and front staged operations that caters to its customers. Customers are the key driving force for catering to services of the airline. Along with this the foods of Virgin Australia is very satisfied and hygienic. The scope of this current essay depicts back stage, front stage operations for the particular organisation utilizing reflective methods. Analysis Virgin Australian airline is very popular airline among the other airline available in Australia. They give proper service to their customer. The company or airline has several promises towards their passengers. I personally feel the backstage services of this company are very impressive and with the help of backstage service, they have got successful to satisfy the customers(Schaefer, 2017). However, backstage service is the services, which cannot be seen by the customers, but they can experience the services thus the customers directly do not have link with the services. I have seen that the company is more focused on their customer care services as they always try to connect with their customers. Whenever the customers or passengers need any kinds of help they can call the airline company(Busuttil, 2017). On the other hand, they also have the service of booking tickets as well as communicating with the airline through internet. Their customer is also very satisfied with their serv ices. They maintain their front stage as well as back stage service very efficiently. In terms of their front stage of services I have identified many things, such as they give proper facilities to the customer when customer needs their help. Most of the customers buy airline ticket online. So the company put good web based application for the customer as well as they main their overall service as well. This interaction is totally manages by the bank(Ayres, 2017). There can be some gap in this process. After that I have identified that they maintain support vehicles for their customer. Here the company informs the customer where the luggage needs to be load. I have also identified that after the check it process they go through the security control. All the documents of the customers have been checked this in this process(Ybema, 2017). This process is mainly ensured efficiency and effectiveness. Thus, in terms of the backstage services the kitchen services can come across. As I was working in the company so that I could see the overall services clearly so that I have noticed that the management authority of Virgin Australia has the motive to providing good services to the customers in low cost(Sinkeviciute, 2017). The company also offers their passengers to choose the ticket ranges but at first, they do not have this facility. Later the company has improved these services and these all-backstage services are managed by the whole management authority(Andersson, 2017). Then the offer bus service for get them to the actual plane. I have also noticed that they maintain their front stage services very efficiently. They also give services of the shops, bars and lets. They are mainly focusing on the customer satisfaction rather than the supplementary services. In front of the planes door they offer mobile stairs to get people on the plane. Also their luggages have been loaded on that time. The crew is ready to welcome the customer(Schaefer, 2017). I have also identif ied that cabin crew is ready to solve all customer quarries in an efficient way. Coats and hand baggages of the customers are also take care by the cabin crew. Hospitality is very important in the front services of the Australia virgin airline company. I have also seen that they mainly focuses on give super services to the customer rather than other services. These are extremely helpful for the company to manage the customer interaction as well as give proper services to the customer. These are not strictly part of the airline experience and but still it makes the airline service better(Stickdorn, 2016). Figure 1 Sources: (Andersson, 2017) Service encounter is very important for any kinds of company as with the help of the service encounter the company can provide good services to their customers. Basically, service encounter can be identified as the opportunity in terms of providing the customer satisfaction so that it is very important aspect for Virgin Australia as well. the overall quality of the services can impressed the customers in a proper manner(Ybema, 2017). Thus, it can be stated that when the customers will be satisfied with the help of the services or service encounter they can become a permanent customer of the organization. As per my opinion in terms of the service encounter the company always needs to identify the demands or the needs of their consumers so that they can effectively bring services for satisfying them. It is very important part for Virgin Australia to impress their passengers with the services by multiple interactions as well as high quality of the services. The service manager of the ai rline wants to deliver effective services in low cost and to earn high profit(Sinkeviciute, 2017). As when the company can manage their services or service encounter properly they can definitely impress the customers and gain their profits also. However, the customers always want to control the service encounter as they want to derive most of the benefits from this. On the other hand, the service provider of Virgin Australia wants to make their work or services manageable and less stressful by controlling the behavior customers with their services. Therefore, I personally think that service encounter has very significance role in the profits of the Virgin Australia(Ayres, 2017). Conclusion In terms of the managerial implications it can be seen that the company Virgin Australia has several services which impress the customers very much (Mustak, 2016). Managerial implication is the process which can be helpful for the company to develop the services as per the likes of their customers. Basically, delivery of the services is the main part of the service encounter process as with the help of proper interaction with the passengers Virgin Australia can bring services like hygienic foods, impressive communication, negotiation service, opening and tone setting, as well as closing the interaction of the and leave taking. Thus, these all services can be managed by the service manager by managerial implication such as bring changes in the costs, services, quality and so on. People like the service of low cost tickets as well as high cost tickets as they can choose or select their tickets which they can afford this service has been adopted by the manager. On the other hand, the se rvice manager of this airline has decided to give business travel this is also liked by the business persons (Wang, 2016). The company always provides services to their passengers with high level of safety and the service provider looks into this. Extensive customer services also satisfy the customers as they can get proper information about the flights. The most important part of managerial implication is the marketing of the services and this airline does their marketing through online sites. According to me the overall service management process of Virgin Australia is very much successful in airline business. Bibliography Andersson, C. (2017). The front and backstage: pupils' information activities in secondary school. Information Research, 22(1)., 30-40. Ayres, S. (2017). Assessing the impact of informal governance on political innovation. Public Management Review, 19(1), 90-107. Busuttil, J. J. (2017). U.S. Patent No. 9,561,942. Washington,. DC: U.S. Patent and Trademark Office., 120-160. Kleinschmidt, S. . (2017). Towards an integrated evaluation of human-centered service systems and corresponding business models. A systems theory perspective., 90-170. Mustak, M. J. (2016). Customer participation management: developing a comprehensive framework and a research agenda. Journal of Service Management, 27(3), , 250-275. Schaefer, J. P. (2017). Frontstage Backstage: Participatory Music and the Festive Sacred in Essaouira, Morocco. Western Folklore, 76(1)., 30-70. Sinkeviciute, V. (2017). Everything He Says to Me Its Like He Stabs Me in the Face: Frontstage and Backstage Reactions to Teasing. Multiple Perspectives on Language Play, 1, 169., 200-400. Stickdorn, M. . (2016). Service design in tourism. Entrep. Tour. Unternehmerisches Denk. Erfolgskonzepte Aus Prax, 2261, , 835-848. Wang, Q. L. (2016). CS-Man: Computation service management for IoT in-network processing. In Signals and Systems Conference (ISSC), 2016 27th Irish, pp. 1-6. Ybema, S. . (2017). Resistance Through Compliance: The Strategic and Subversive Potential of Frontstage and Backstage Resistance. Organization Studies, 0170840617709305, 300-343.