Oligopoly Market Conditions

Oligopoly Market Conditions Oligopoly is such a market situation wherein the number of sellers is few and the numbers of buyer are many. That is unlike the monopolistic competition the seller are not one but at least two and could range up to ten. This is because of the following reasons. Heavy input costs of producing the product making it difficult for every firm to make investments. Entry barriers made by the bigger firms in the form of government regulations, price competition, brand setting and other pressure tactics. The method of production requires specialization which is not available with other firms. Product enjoys monopoly in the market. Thus the above mentioned few reasons can become the cause of set up of an oligopoly market. Number of sellers and buyers in oligopoly: Now Oligopoly, as mentioned above can have from two to tens suppliers, rather than one in the case of monopoly market. Thus they together become the price setters instead of price takers. Any rise in price will benefit the rise in sales of other company products that may be similar or differentiated. Reason being the other companies wont follow in rising their product prices as they would be expecting an increase in sales. On the other side, any fall in price will not help gain many customers, as the other companies will respond in a similar pattern and the result will be price war. Thus declining the price level would not help gain as many customers as expected. Price Equilibrium in Oligopoly: An equilibrium condition is when the prices remain unstable and the supply remains same. To increase the demand of the products and meet the competition of other products in the market, these firms indulge in heavy advertising campaigns. Through advertisements they teach the customers about the new feature that is added in their product and various other benefits of using their product. This sometimes results in putting stains on the other companys product in indirect words. Examples of Oligopoly: A number of examples of Oligopoly market situation can be figured out around us. These are explained as follows. PepsiCo and Coca Cola Co. are the two market leader and sellers of soft drinks around the world. Thus two numbers of firms selling to large number of buyers makes it an Oligopoly market. Furthermore these companies are always making heavy investments on advertisements around the globe. Some of the advertisements may be meant to harm the brand image of other. The result in another advertisement in response. Sometimes these matters are even taken to courts for settlement. Boeing and Airbus are another two large companies that makes planes to foster the need of various countries. Again these are two companies, which are the sign of Oligopoly market conditions. These companies although do not make much advertisements, but offers latest techniques at competitive prices by making product differentiation and attracting customers around the globe. OPEC includes a few numbers of sellers of petroleum product throughout the world. As the number of seller is not two but not many either. The numbers of buyers are large, including countries in Asia, Africa, Europe etc. Diagrammatic representation of Oligopoly: As we know that in the Oligopoly is a market where in the number of seller are more than two but not higher in number, whereas the buyers are many. Moreover the price rise results in benefitting the other companys product sales. And on the other hand the price fall results in attracting only a few customers. This type of market conditions can be displayed as follows. From the above diagram its clear that this diagram is very similar to monopoly market situation. But the difference is this type of condition remains for a definite price period. That is if any firm try to raise its prices from Pc to Po the result would be benefit to other firms. Whereas if a firm try to reduce its product prices than that would not foster him more customers than expected. The result would be affecting the profit margins. Thus a Cooperative Oligopoly price level is administered where in all the companies agree to follow a minimum price levels to earn good profits. Any displacement from the agreed price would affect the changer or so called the Cheater, either by fall in demand or fall in profits. Thus a Nash Equilibrium point can be accepted by all the companies in the Oligopoly where in all the companies earn good profits at the present output and price levels. Features of Oligopoly: Now we can conclude the features of the Oligopoly market conditions. These are as follows. Few producers or sellers and high numbers of buyers. Product differentiation is up to some level or no product differentiation. The firms enjoy normal profits in normal market conditions. The firms depend on advertisements, quality rivalry and generally accepted by the group of firms. Economies of scale will exist, as heavy investment and improved technology is needed to get similar quality output at the competitive costs. New firms cannot enter the market, as the old firms create a barrier through government restrictions, heavy investments, pressure techniques like takeover of the uprising company. Swift action is taken on the change in price level and defaming advertising campaign by according price change and responsive advertisements. Conclusion: In the nutshell we can say that the Oligopoly market situation is very similar to Monopoly market situation but with more than one number of seller up to limit extent. The pricing is done by proper agreement between the firms. The product differentiation may or may not present. The firms spend heavy on the advertising campaign and keep a close look at the advertising of other companies and response accordingly. The firms earn normal profits but input barriers on the new entrants.

Autobiography: My inspiration

Inspirations come from many avenues. My inspiration came when I was 16 years old in the form of a 3 pound baby boy measuring the length of a ruler. Being a young adolescent myself, this was a very trying time for me. My son was born almost three months early and could very easily have not survived. The birth of my first child is what changed my life forever and shaped me into the person I am today. At the age of seventeen I was attending high school, being a mother to my son, and working away from home as a waitress; all the while missing my little boy beyond words.I knew right then what I wanted to do with my life. I wanted to watch my son grow. I wanted to not only be his mother but also his teacher. As my life moved forward my family grew. I was lucky enough to have the privilege to stay at home with my children. During this time I decided that caring for children and helping them grow was what I wanted to do. I started doing child care for a few of my friend’s children and absolutely fell in love with it. This is what I have always done and is something that has always come completely natural to me.Being responsible for a child’s growth while watching them learn and mature right before my eyes is an amazing feeling and a blessing. My children are now all in school full time which has me feeling ready to share the passion I have in caring for, nurturing, and teaching children with others. After I complete my CDA coursework my goal is to become a preschool teacher. I feel with current education with child development and the love I have for watching children’s developmental growth this will be a great future for me.

Applications of computers in various fields Essay

Computers have their application or utility everywhere. We find their applications in almost every sphere of life–particularly in fields where computations are required to be done at a very fast speed and where data is so complicated that the human brain finds it difficult to cope up with. As you must be aware, computer now-a-days are being used almost in every department to do the work at a greater speed and accuracy. They can keep the record of all the employees and prepare their pay bill in a matter of minutes every month. They can keep automatic checks on the stock of a particular item. Some of the prominent areas of computer applications are: 1)In Tourism:[/B] Hotels use computers to speed up billing and checkout the availability of rooms. So is the case with railways and airline reservations for booking tickets. Architects can display their scale models on a computer and study them from various angles and perspectives. Structural problems can now be solved quickly and accurately. 2)In Banks: [/B]Banks also have started using computers extensively. Terminals are provided in the branch and the main computer is located centrally. This enables the branches to use the central computer system for information on things such as current balance,deposits, overdrafts, interest charges, etc 3)In Industry:[/B] Computers are finding their greatest use in factories and industries of all kinds. They have taken over the work ranging from monotonous and risky jobs like welding to highly complex jobs such as process control. Drills, saws and entire assembly lines can be computerized. Moreover, quality control tests and the manufacturing of products, which require a lot of refinement, are done with the help of computers. 4)In Transportation:[/B] Today computers have made it possible for planes to land in foggy and stormy atmosphere also. The aircraft has a variety of sensors, which measure the plane’s altitude, position, speed, height and direction. Computer use all this information to keep the plane flying in the right direction. In fact, the Auto–pilot feature has made the work of pilot much easy. 5) In Education:[/B] Computers have proved to be excellent teachers. They can possess the knowledge given to them by the experts and teach you with all the patience in the world. You may like to repeat a lesson hundred times, go ahead, you may get tired but the computer will keep on teaching you. Computer based instructions (CBI) and Computer Aided Learning (CAL) are  common tools used for teaching. Computer based encyclopedia such as Britannica provide you enormous amount of information on anything. 6)In Entertainment:[/B] Computers are also great entertainers. Many computer games are available which are like the traditional games like chess, football, cricket, etc. Dungeons and dragons provide the opportunity to test your memory and ability to think. Other games like Braino and Volcano test your knowledge. 7)Science: All branches of science, from astronomy to zoology, depend on computers to further their knowledge on increasing the life span of man. The MRI, the PET, and other computer-aided machines help doctors and scientists to better understand the people’s medical needs. 8)Communications: using computers will never be complete without using the Internet. This global network of networks have swept the lives of many people as daily tasks become handier, communications more convenient, and most of all, sources of information broader and more accessible. 9)Business: Computer has changed how we do business. Gone are the days of labor-intensive and manual way of inputting data through ink and paper. Now, with a few taps of keys and a few clicks of the mouse, good and productive business is on its way. 10)Government: Government offices also depend on computers for its basic needs. From simple letters to the more complicated projects are now being produced through the use of computers. Government agencies and their databases are now interlinked, making it easier for the agencies to monitor economic developments.

Essay on Computer Viruses and Charles Babbage Biography

Essay on Computer Viruses and Charles Babbage Biography Part I Computer Viruses Manual Understanding computer virus A computer virus is a term used to describe malware or basically, any computer program that has the potential of copying itself onto a computer without the intervention of other programs or users. Viruses include malware like adware and spyware, though this malware do not have reproductive ability (Amoroso 1999). A computer virus has a reproductive ability to regenerate itself and infect other computers or other applications within the same machine. A virus can spread rapidly over networks or insecure intranets. It can also be spread by removable medium like USB drive and CDs. Computer viruses term implies all types of unintended programs that attach themselves to applications thus hindering their work. It refers to all types of malware including computer worms, Trojan horses, spyware, rootkits, and adware. These however are not viruses per se since they do not have reproductive ability (Peltier, 2000). Malware is the general term however, that is used to describe all types of malicious code software that re designated to cause harm to computers and other applications. Malware therefore includes such objects like viruses, worms, spyware, phishing, adware, tracking cookies and rootkits. Types of malware Worms Worms are nasty malware that are capable of self-replicating in the computer rapidly. It works by production of endless copies of itself that occupy much space in machines. It also takes up a lot of bandwidth in networks. The main disadvantage of worms is the ability to consume a lot of space and therefore slow down the computer or the network. They however do not corrupt data files in any way. The worst known examples of worms ever to be were the MyDoom and Morris. How worms are acquired Worms are acquired mostly by email attachments. At no time should one open an attachment without scanning it for possibilities of worms. How to protect computer against worms Activate the email scanner and in the antivirus used in the machine. Ensure moreover, that the antivirus used is updated and that its definition covers aspect such as detection and removal of worms Spyware Spywares can sometimes not be that much of a threat to computers. However, the same can cause the slow performance sometimes experience in computers. Spyware, just like the name shows, spies on the browser activities of your machine by monitoring key strokes on the keyboard. The disadvantage is that it can send your browser information to third parties, which can lead to changes happening on the homepage as well as pop-ups that are sometimes experienced on the web browsers. They can also cause redirection of web browsers. How to acquire spyware Computers can be infected with spyware through clicking on links that are associated to a particular site with spyware, through pop up links that appear on web browsers, which normally come as advertisements. There is also another third method in which spyware can affect computers without the use noticing it. This is through drive-by type download. How to prevent infection of spyware In order to curb infection of spyware, users must be vigilant and avoid clicking suspicious links. Pop-ups advertisement should be blocked from the web browsers or as such, users avoid clicking on the same. Finally, have an update and efficient antivirus installed on the system. Adware Adware has threat level of low to intermediate. They do not cause serious harm to computers actually. Adware refers to advertising display software that provides ads in the browser or site in a manner that is annoying to users. The adverts are mostly unexpected, unsolicited and automatically loaded. They cause browsers to display popup menus and windows. Some adware applications also track the browsing patterns of a user and use the data to determine the kind of pop up windows to send to a client How are adware acquired Through browsers by clicking on popup menus. Controlling adware Adware is easy to curb. Having the necessary antivirus that is well updated and is set effectively s the effective way to control hardware. Types of viruses Boot sector virus This kind of virus that is found in the hard disk. It attaches itself to the first logic part of the hard disk and therefore is read first by the computer upon load up. These virus sometimes can sometime cause problems during boot up of a computer. Macro virus These kinds of virus use other applications programming to expand themselves by redistribution. They cause corruption to applications such as Microsoft Office and therefore destroy the document by these applications Memory resident virus These viruses reside in Random Access Memory of a computer. After the program that initiated them closes, the viruses stay in the memory causing problems to process management. Root kit virus This virus is undetectable in a computer. It works but attempting to give a third party control of the computer system. They are installed by Trojans and therefore distinguish themselves as system or program files. Polymorphic viruses Works like worm by replicating themselves and each time it does so change the digital signature associated with it. It is therefore hard to detect these viruses by use of less sophisticated software. Logic Bombs/Time Bombs These applications are programmed to be triggered at a specific time or by a specific action in the system. An example of such virus is one that can delete database entry when an employee is sacked. Tips on how to prevent computer viruses Have a reliable antivirus software installed in the system Have anti-spyware and antimalware programs installed in the system Avoid visiting suspicious websites. These can be known by alerts generated by antivirus Scan all email attachment before opening them Set up automatic virus scanning in the computer regularly All downloads should be from trusted sites. Music and movie downloads can be a source of viruses. Update all the software applications running on the system. This includes operating systems and other user applications. Update antivirus too. Install firewalls in the computer. There are free source firewalls found in the internet. Install these firewalls. Recommended anti-viruses and their prices Use the following antivirus in order to solve the problems related to malware. It is important to note that an un-updated antivirus is useless in system protection. The list below offers choice of anti viruses that can be purchased and installed on the system easily. Kaspersky antivirus It is one of the best anti viruses in the market. It comes with all the needed requirements for protection of the server. Its main advantage is that it provides hourly updates therefore ensuring that one stays ahead of the possible virus attack. Kaspersky antivirus cost US$39.95 in online stores. One can also get a 30-day free trial period (Antivirus Price 2011) Bit defender Bit defender, though one of the best anti-viruses lacks the ability for email scanning. However, the antivirus offers P2P files sharing as well as registry startup protection. It also has hourly updates of the antivirus. Bit defender costs US$40.95 with a seven-day trial period (Antivirus Price, 2011). Trend Macro Trend Macros main function is protection against spyware and adware. It allows remote file lock that is important in safeguarding private files. However, unlike Bit Defender, it lacks P2P file sharing ability as well as Startup scanning. Trend Macro antivirus cost US$ 39.95 online. It also offers a 20% discount and a thirty-day free trial (Antivirus Price, 2011) Norton Antivirus Norton antivirus comes with an added ability to map wireless networks and safeguard Wi-Fi networks. It has no P2P support for file sharing as well as registry start up protection seen in Bit Defender. It comes also with daily updates for the same. Norton comes with a 5-day trial period and thereafter a one payment of USD 38.95 (Antivirus Price, 2011). McAfee Antivirus McAfee is one of the leading anti-viruses in the market (McAfee, 1994). It has the largest databases that offer better advantage in virus detection and scanning. McAfee is built in script stopper as well as Worm Stopper. It offers no support, however, for P2P sharing, instant messenger and start-up of registry (Antivirus Price, 2011). Panda Antivirus Panda antivirus has the advantage that it can scan the system 1/3 faster than other anti-viruses. It has an anti-phishing filter, which protects against phishing as well as anti-banking Trojans Engine. It also offers inbuilt personal firewall that improves computer security. Panda antivirus cost around 40.95 USD (Antivirus Price, 2011). NOD32 Antivirus It has advantages such as blocking any possibility of forwarding personal data to third parties. Its virus updates also come in small sizes unlike other anti-viruses like McAfee, which comes in enormous sizes. It also offers real-time email scanning to all emails send. The antivirus costs USD 39.99 plus a possibility of obtaining a trial of the same for thirty days without paying (Antivirus Price, 2011). AVG antivirus It is one of the oldest antivirus in the market therefore has seen improvement over time. It comes with two applications that are geared towards protection of spyware and rootkits, therefore offering possible security. At USD 43.95, one can obtain panda antivirus from their site or from online stores (Antivirus Price 2011). Part Two Charles Babbage Biography Early life Charles Babbage was born in London on 26th day of December of 1791. His parents were Benjamin andPlumleigh Babbage. Benjamin was a banking partner of the Bitton Estates’ Ptaeds. In the year 1808, his family moved to Rowdens house where the father became a warden of the nearby church of St.Michael (Anthony, 1989). Charles was brought up in a rural setting from the time he was eight. Though his parents had the ability to send him to the best educational institution and receive the best education, he was however not due to the fact that he was suffering from a dangerous fever and it was felt that burdening him with education could be bad for his health. At some point Charles attended King Edward VI grammar school. However, due to his health he was forced to retreat to private teaching for some time. Later, Charles joined a 30-class academy, which had a good library. It was here that Babbage developed love for mathematics and classics. After leaving the academy, he had with him two tutors (Anthony, 1989). In the year 1810, Charles joined Trinity College at Trinity where on arrival was disappointed by the level of Math programs offered. He and his colleagues decided therefore to form an analytical society (Anthony, 1989). In 1814, Babbage married his wife at St. Michaels Church in Teignmouth, Devon. With her, they had nine children though only three of them reached adulthood. He lost his wife, father and son in an 1827 tragedy (Anthony, 1989). Charles’ work By as early as 1812, Charles had started thinking of development of a machine that could be used to solve mathematical problems in order to reduce error rate, which were associated with calculation tables. His inspiration came from existing work done by W. Schickard, B.Pascal, and G. Leibniz (Trevor-Roper 1972). Difference engine In 1822, Babbage presented a model paper of a difference engine to the royal astronomical society, which led to him being granted a funding of 1500 pounds to construct the same (Correlli, 1986). Babbage therefore embarked on construction in the year 1823 after he had employed an assistant to oversee construction of the engine. He spent many hours and days visiting industries in order to understand how operations are run. By then Charles had converted one of his room in his house to be a workshop for the process. In 1832, he published a paper on economy of machinery and manufacture. This formed the basis of operations research done today. Work came to a stop in the year 1827, after Babbage almost suffered a breakdown coupled with the loss of his immediate family members. He was advised to take a holiday, which he took, by going to Italy. It is here where he was named the Lucasian professor of mathematics. He returned to England in 1828 where he moved to Dorset Street and continued his work on the machine (Klibansky, 1939). The difference engine was later abandoned in 1834 after many problems between Babbage assistant and the government. The government stopped funding and Babbage demanded that the treasury pay his assistant directly instead of him drawing money from the allocated amount. His assistant left him and refused to turn in designs of drawings and tools for the construction of the difference engine. The total amount that the unfinished project took was 29,000 pounds including six thousand pounds, which came from Babbage’s pocket. Analytical engine After the failure of the difference engine, he started to think of a more general machine that could solve many computations and not only difference sums. Between 1833 and 1842, Babbage tried to build analytical machine (Francis, 1952). The product was successful and a machine that was able to use its output as input was produced. It used punched cards to define inputs and the calculations to perform on them. It consisted of the mill and the store (George, 1955). In comparison to modern-day computers, the mill can be termed as the CPU while the store can be compared to main memory. The mill measured fifteen feet tall and six feet in diameter. The store on the other part stretched an enormous twenty-five feet. Second difference engine After the end of analytical engine in 1846, Babbage designed another difference engine. He was motivated by the enormous knowledge he had gained from the production of analytical engine. This time round, he improved the design of the engine only applying a third of the parts that he used in the initial engine. He however never built the engine instead, he designed the parts and made no attempt of improving the same (Wiener, 1981). Accomplishments He was awarded a gold medal by the Royal Astronomical society in 1824 for his invention of an engine that was able to calculate mathematical and astronomical tables. He was a professor of mathematics at Cambridge from 1828 to 1839. Babbage published in 1937 his ninth paper forwarding the thesis of God having omnipotence and divine legislations. Charles Babbage also broke a cryptographic key known as Vigenere’s auto key cipher. His achievement in this field led to application of it in military campaigns In 1838, he invented a machine that was