Childcare: Child Development

Unit 1 – Understanding and promoting children and young people’s development Learners Declaration: I certify that the work submitted in this assignment is my own. Student Number.. eb1257620 Full Name †¦Mrs Debbie England Address†¦.. 1,Woodlands Residential Park Quakers Yard, Treharris CF46 5AR L/601/1693 Unit 1 NCFE LEVEL 3 EARLY LEARNING AND CHILDCARE Debbie England EB1257620 Q1a, Explain the sequence and rate of each aspect of development from birth – 19 years? 1a.All areas of development are important as each other, but children do not always develop at the same rate, but as soon as your bundle of joy is born they are their own little person. Areas of development from birth – 19 are : PHYSICAL DEVELOPMENT including movement skills gross motor skills, fine motor skills and hand-eye coordination, from 0-6 months a child will turn head towards sounds and movement ,try to put everything in mouth, hold and reach out for things and reach to hold th eir feet whilst on back and when they are being fed they watch you and smile at a familiar face. Accompanying material: Explain the Reasons Why Children and Young People’s Development May Not Follow the Expected PatternBy the age of one a child has the ability to sit alone unaided. They are also getting inquisitive by looking for things that have been hidden, behind you or in your hand. Children also want to be picked up, so they lift arms up, they also want to stand up so they pull or push against adults or furniture, and not all children can crawl by this time but they might get around by shuffling on bottom or rolling around. Children also know their name by now and turn towards you when they are called, they like to play by passing objects from hand to hand and examine them by poking or prodding.By the age of two, a child has many talents, such as walking with or without toys, bending to pick up things from floor. Children have started to do a lot more with their hands such as Waving, pointing to what they want, building towers out of bricks, banging objects together and also feed themselves. And the ability to say no by shaking their head. You will also start to notice that they have a preference to which hand they want to use.By three years of age children are able to kick or throw a ball, kneel down to play with things and can build larger towers. Children also like water, so playing pouring with different shaped things is enjoyable for them . Between the ages of three and seven, children are more adept, they have mastered climbing stairs and gained more confidence to climb, walk on tiptoes and jump , also gained control of eating with cutlery which in turn should help with holding a crayon or pencil to draw.Throwing and kicking a ball with aim, using safety scissors and copying shapes and letters. As children get closer to seven they are climbing, jumping catching, skipping and riding a bicycle and are able to write. Between seven and twelve years of age children are experiencing the art of taking part in team games such as football, athleti cs etc. From twelve onwards we reach puberty. Not all girls and boys reach puberty at the same time, some are slower than others.Puberty can cause a lot of upset and anguish. For boys, at this age,, start getting taller, muscles start to grow, along with facial hair, their voice may break, they may experience acne due to oilier skin and it does not get any better because some boys experience slow pubertal growth so they feel different from the rest of their friends and causes upset and worry, so as a parent you need to be there to reassure them that their rate of development is not related to the final physical potential.For girls,, by the age of thirteen periods would have started, their breasts have developed and their bodies are fuller and rounder and by 15 it is likely that she has grown to her full height, some girls develop as early as eight, but some do not show changes until late teens. Sometimes it is hard for teenagers, they become totally preoccupied with their developmen t. They feel awkward and sometimes feel embarrassed. SOCIAL AND EMOTIONAL DEVELOPMENT: includes forming relationships , learning social skills, self reliance, making decisions, caring for others and developing self-confidence and dealing with emotions. -3months, children of this age concentrate on an adults face when being fed and smiles, they respond to adults especially mothers face and voice and also very dependant on adults for comfort and reassurance when cuddled. Six -nine months children show affection to people they are used to ,but shy with strangers, they also like to play games like peek-a-boo. One to two years, children like to please people and like to be centre stage and perform, play along with other children, they can be cooperating but then can be istracted by unwanted behaviour and may become distressed if separated from a known adult, so they may need use a comfort object, e. g toy or blanket. Between two and three, a child will develop sense of own identity and s tart to be independent, act impulsively ,prone to bursts of emotional tantrums and demanding things, wanting things NOW, and craving attention. Three to four years, at this stage children become more caring to others, they like to share and they become more cooperative and want to help with everything. They also become more independent and more secure in unfamiliar places.Four to seven years, This age group need structure and routine to feel safe, when behaviour is bad they need limits to be set , they enjoy helping others. Often make friends but need a hand in resolving situations. They will learn a lot about the world and how it works , about people and relationships and develop understanding of rules. Seven to twelve years of age, Children start to form special relationships at about eight, they usually like to mix with children of same sex, because they become aware of own gender, they become less reliant on adults for support unless they need an adult to help sort out an argume nt.They enjoy being in groups of their own age but are strongly influenced by peers and want to fit into their rules. Children can be either arrogant, bossy or shy but they do develop an understanding that certain behaviour is not acceptable and why. Teenagers, teenagers become self-conscious as they notice changes to their body, they need reassurance more than anything else. Their body is going through emotional turmoil , they are tossed back and for between childish needs and adult desires, they are also being prepared for independence from their parents and closer to friends and relationships.Teenagers also get embarrassed and feel awkward and worry about making mistakes. INTELLECTUAL DEVELOPMENT. Between 0 and three years of age, realise others are separate from themselves, they imitate and try different ways of behaving in play and they become more confident but still need reassurance. Three to four year olds are able to sort objects by size, shape , colour and type, e. g anima ls . They can also understand two or three things to do at once e. g ` fetch that beaker of water, give it to your brother and take empty beaker back to kitchen. Five to seven year olds .At this age children begin to understand differences can exist side by side, and about sameness and difference in various aspects of life and are able to see that the same amount of porridge can look different in another container. Seven to twelve year olds, are able to do things for themselves, read, and take interest in certain things. Twelve to sixteen, At this age, children turn to their friends, they are less concerned about adult approval, they want to follow their peers, dress the same, have the same games, behave the same way even wear the same clothes.LANGUAGE DEVELOPMENT. Between 0 and three months , babies start to make happy sounds, they watch peoples faces and try to copy, and enjoys music and other sounds. Babbling sounds begin between six and twelve months, they will laugh or chuckle and feel pleasure by making squealing noises, they turn their head towards sounds. At one children start to put words together and understand key words. By two they start to understand the art of speech and start to copy and by two they can use thirty to one hundred and fifty words.Between two and three, children are able to put words into a sentence, they can join in with songs or nursery rhymes, scribble on paper and by the time they are three can be using several hundred words and like all children they start to ask what? , when? And why? Three to four year olds start to use pitch and tone, their vocabulary can be up to fifteen hundred words by now and including past tense, also their scribble becomes more controlled. Four to five year olds can steadily copy shapes and some letters, recognise their own name and words that are used regularly.They are also more able to use language to communicate ideas and grammar is more accurate. By using picture books children are able to follow , understand and enjoy the story. Questions that they ask becomes more complex. Five to seven years of age are fluent and able to make up stories, they handle books well, recognise more and more letters linking them to sounds and understand that text carries meaning. Seven to twelve years of age usually need help with spelling, adults introducing new words will help their vocabulary.Children can also read out loud and know the different tense and grammar and speak fluently explaining complicated happenings. Twelve to sixteen year olds can be quite irritating by using sarcasm and trying to be witty, but they are just testing their new sophisticated mental abilities. Their logical thinking is maturing and may enjoy a debate, it helps to practise verbal skills. Q1b, Explain how theorie s of development and frameworks to support development influence current practice? 1B.Theories related to child development, such as social and emotional skills can be divided into three schools of thou ght. 1. Biological – Genetic make up 2, L earning – Result of contact with others 3. Psychoanalytic – Combination of both biological and learning Each of the above has many theories supporting them. PIAGET.Jean piaget was a psychologist and philosopher and spent his professional life listening and watching children, his research found that children don’t think like adults and he suspected tha behind illogical statements were thought processes that had their own kind of order and logic. His background of biology and philosophy influenced his theories and research of child development. Piagets theory is based on the idea that children develop cognitive structures( mental maps ) for understanding and responding and their cognitive structure increase as they get older.He identified development stages. 1. Sensorimotor 2. Pre-operational 3. Concrete operations and 4. Formal operations. BRUNER Jerome Bruner is one of the best known psychologists and developed t he theory of cognitive growth, he looked at environmental and experimental factors that affect intellectual growth . He believed that children need to move more freely and be involved in their own learning, his ideas were based on catergorisation and believed that adults could support their children in their learning experiences.Bruner had a profound effect on education, his work is still influential to scientific studies today. He indicated four key themes in the process of education (1960). 1. Readiness for learning 2. Motives for learning 3. Intuitive and analytical thinking 4. The role of structure in learning. VYGOTSKY. Says that a child is brought up by culture which has two contributions to a child`s intellectual development 1st their knowledge , 2nd what to think.Cognitive development – children learn by problem solving. Language is a learning process and interacting contribute to a childs development. HOWARD GARDNER, stated that there at least seven intelligences whi ch link our individuality they are. 1. Verbal – linguistic 2. Musical. 3. Logical. 4. Spatial 5.Bodily kinaesthetic 6. Interpersonal. 7. Intrapersonal. MONTESSORI. Dr Maria Montessori, a scientist had a unique opportunity to study the thinking and learning skills in children and developed specific learning apparatus to help and including children who learn differently. She stated that the secret of good teaching is to regard the childs intelligence as a fertile field in which seeds may be sewn to grow under the heat of flaming imagination.Her theories and ways of educating children are used today e. g using music, language, hands on educational materials, games and muscle movements etc. Current child development theories, are that the first three years of life are critical to laying down the foundations for future learning. Babies need to be sung to, cuddled, touched, talk to and kept warm. There are three styles of learning Visual, Kinaesthetic and Auditory. In the early ye ars of life most children experience rapid and physical, emotional, intellectual and social growth.There are systems in place to intervene and identify signals that may cause future concerns. Practitioners work with parents and primary carers to listen to views so as to build on children`s experiences, knowledge and understanding and provide opportunities to develop in all areas. Q1c, Explain how to monitor children and young people`s development using different methods? 1C. To monitor a child`s development starts with, 1. Observation 2. Assessment 3. Planning 4. Implementation and 5. Evaluation.Observation, – observing children is an important role for a childcare practitioner to practise it is essential that they are able to assess progress and plan for the childs future. Observation can help identify any issues with the child, identify strengths and weaknessess, monitor development and how to respond in situations, and to add any improvement where needed, also share with p arents, collegues and specialists. By conducting observations you can learn more about a child, some characteristics on display maybe: 1.Skills and accomplishment 2. Personality and temperament 3. Interests and preferences 4. Level of cognitive and social development 5. Strategies for creating desired effects. Always obtain permission before using observation.Different methods are; Time sampling – at pre-planned times . Event sampling – Behaviour forms of Structured – create a particular activity. Naturalistic – usual routines Participative – be engaged in activity together Longitudinal – detailed observations Target child – use in groups to find out if they are getting worthwhile experiences.The skills are to be able to obtain information about the child Look – Know what you are looking for Listen – Take notice how conversations are with others Record – make accurate notes.Think – consider what you se e and what assessment would you make . Assessment,- is the process of analysing and reviewing what you currently know about the childs development. When you assess, you are making a judgement or decision on the childs progress. To make a valid assessment you must collect all relevant information needed, this should include the childs development, learning, health, behaviour, academic progress and the need for special services.Once information has been collected any assessment should be carried out by a childcare worker and based on Thorough knowledge of child development , Parents observations of their childs development and other practitioners observations who has worked with the child and analysis of observations of milestones and expectations. The results of the assessment can then be used for planning the individual care. Planning,- For the next steps in a childs development should be done on the information you obtained from the assessment.Any concerns should be discussed with the parents and collegues to identify any intervention that maybe required. Planned activities are experiences and opportunities that are thought about and planned in advance. Unplanned activities are some of the most important and effective learning opportunity arise spontaneously. In these instances you have to make the most of the opportunities. All childcare settings have a curriculum, even if they don’t use that word to describe the activities they provide for children. Child-centred planning is important because it focuses on the needs of the child.Allows children to take lead in learning based on own interests and helps to practice and develop old and new skills. Enables parents and staff to take time out to think and be in agreement what development needs individual children want. Plans are always based on the knowledge of the stage of development reached by the child concerned. Appropriate goals are set for the next stage of the childs development. Implementation, â €“ A long term developing plan should be put in place to lay out aims for learning over a year.It should represent the purpose behind the childcare worker`s practice and contain brief summary of what they want children to achieve. Short term plans are put in place to help practitioners plan activities weekly , it helps children to have a choice, either to have or try a new experience or activity that will encourage them in developing, and the plan should be adaptable for children at different stages of learning. When writing a short term plan it should outline; something to progress the developmental and learning needs of all children.Something of interest and supply enjoyment for all children. All the areas of learning in the early years foundation stage are covered. Do not discriminate against any child. And that setting has or can access the required resources. By creating a plan a childcare worker will be able to organise the environment List equipment and materials needed Identify the activities they want children to participate in.Set out their own participation in activities and set timing ( when and how long ) When creating an individual plan both child and parents can be involved, a child can contribrute can say what they like and what they don’t, and parents can contribute by given information about their childrens interests, experiences and activities at home .When creating plan the careworker must include the seven stages, which are : Assessing current stage in learning and development. Identify needs for further learning and development. Setting clear targets for achievement. Identify strategies for achievement. Intergrating plan into other plans of the setting. Implementing plan. Review plan.Individual plans should include ; Childs name Key workers name Date of plan Aims of plan Targets Strategies to help child achieve targets Date of next review Date and comments when aims and targets are reached. Evaluation – All plans n eed evaluating, reviewing or even re-planning. Everyone involved with the children play a part and staff should get together regularly to discuss plan in question and if anything needs re-thinking. 1. Do plans enable everyone working in setting to know what they are doing and how to do it? 2. Are plans enabling setting to be effective in progressing the childrens achievement in learning and development. If planning is not enabling one or both of these things to happen, it will have to use evidence collected to decide on appropriate changes to its plans , format or content.An important part of the evaluation plan is to inform parents how things are and for parents to explain their findings . Feedback creates good practice. Q1d,Explain the reasons why children and young people`s development may not follow the expected patterns? 1d,Children do not develop at the same rate as each other. Many children have growth spurts followed by a lull, their development may also not progress evenly across all areas. All children are individuals. Girls and boys going through puberty experience different things. Girls – If going through puberty early, her social development may not be keeping up with her physical growth, some girls can look grown up but still a child underneath. yet some girls are reaching full physical maturity and some are only beginning. Boys – some boys move into mid- puberty while others worry about their development. Their emotional state is constantly all over the place, their bodies are experiencing drastic changes which can cause emotional turmoil, all teenagers going through this could potentially cause disruption to development pattern. Some factors that can influence younger childrens development pattern are: Environmental and economic which consist of poor housing, lack of play facilities, low income families, lack of resourses and frequent changes in environment.Social – poor parenting, difficult family circumstances, few oppor tunities for one-to-one and few good role models. Emotional – conflict with family or peer group, family break up, moving house, death of a pet or family member, changes of childminder or a new arrival of a baby brother or sister. Medical – Long stays in hospital, illness of family member, ADHD, disability or frequent illnessess. Or in General – personality, immaturity, poor speech, temperament or becoming more independent. Most children experience rapid physical, emotional, intellectual and social growth, but for some children have major issues, and it is important to put systems in place where we can help children.Practitioners should work closely with parents and carers to listen to their views and to build on previous experiences, knowledge, understanding and skills and to provide opportunities to develop. Monitoring children is essential, when a child show signs of slow development, it is necessary to present different opportunities to use alternative appro aches to learning. Ongoing difficulties may indicate that they need extra help and support above what is normally offered. Early education settings are perfect for observing any changes in children`s development pattern because everything is recorded. Sometimes concerns are not noticed fully until later when a child is in formal education.Settings will determine what issues there are and able to set up programmes of support which the child may benefit from . Practitioners need to assess and assist the child in developing further in any area of their development. Disability can disrupt the development pattern also. A disabled child who cannot think or react or talk for themselves have to be assessed for specific needs and if they don`t get what they need interfere with their development pattern. Help childrens developing pattern by giving them what they need, that is by : Providing space, equipment, materials and activities for physical development .Giving praise, guidance , support, listening , supervision, provide opportunities to share in decisions and to take responsibility, be warm and affectionate and attentive and let them express themselves, for social and emotional development. And for intellectuall development, talk to them play I spy and dressing up , look and touch things, provide art and craft activities and include them in things like question and answers and laying the table etc. Language development includes asking questions, talking, discussing books, objects and ask them about themselves. Without these things the development wont follow the expected pattern. Q1e, Explain how disability may affect development?The early support programme is for families who have a disabled child under five, it is there to support families who leave hospital with a child with medical and physical needs and significant factors that could affect development. Long stays in hospital and long illnessess can also affect development. So can the lack of facilities. Carer s should obtain as much background information as possible to help to understand what the child needs. Disability may affect development if you do not provide the environments and resourses that they need, these include; Brightly coloured and textured toys . Toy`s and equipment with lights and moving parts. Large play and safety equipment. Painting with bright colours. Large print books and large print letters on computer keyboards. Mirrors and magnifying glasses and sensory activities. , for visual impairment.The other considerations are: Have good lighting. Encourage orderly movement around the school. Supervision in activities such as P. E , cooking and craft. Children with hearing impairment should be provided with : Music, movement, drama and dance activities. Craft and art. Story tapes and headphones. Reading, one to one stories and specialist computer programmes. Other considerations are: Look at the child when talking to them. Speak clearly and repeat yourself if they hav e not heard. Use visual aids, avoid distractions and use body language.Children with behavioural difficulties should be provide with: Quiet story times. One to one individual attention. Toys and activities that promote concentration. Large outdoor play area with lots of equipment. Sand and water for relaxing and dough for releasing aggression. Other considerations are: Give rewards. Minimise distractions. Make eye to eye contact. Speak clearly and give direct instructions. Avoid clutter. And distract children with an alternative activity ot toy. Ativities such as : Construction toys. Jigsaws. Sand and water play. Songs and rhymes. Music and instuments.Specialist computer programmes. Reading and looking at books. Painting will help with self-expression for children with autism, other considerations are: Be patient. Have a structured daily routine, children with autism cannot adjust to changes easily. Do not expect to keep eye contact but try to encourage it. Keep verbal instruction s brief. And provide activities for children to play individually. Children with physical disabilities, should be provided with: Stories. Role play. Sand, water, painting and dough all stimulate physical motor skills.Floor toys such as, cars, farm and large construction toys. Table-top activities such as crayons and paper. Painting. Sensory activities. And interactive play encourages other children to accept differences in other children. Other considerations are: Consider classroom layout. Install ramps, lifs and special toilets. Ensure chairs, tables and equipment are at a suitable height. And specialist equipment may be purchased such as special bicycles, scissors and triangle shaped pencils. Children with dyslexia should be given any activity or toy that does not need to use memory or organisation skills.Children with dysphasia should avoid music or movement activities. They may have low levels of concentration and may have difficulty doing jigsaws, sorting games and holding a pencil. Without all these things a disabled childs developed may be affected. Q1f,Explain how different types of interventions can promote positive outcomes for children and young people where development is not following the expected pattern? Early intervention is important because some children experience problems in the developmental process, and it is also important that there are systems in place to intervene and identify signals that may cause concern. Graduated response.Monitoring of a child`s progress is essential, if a child shows signs of slow development it may be necessary to present different opportunities or use different methods to learning, and or the child needs more support above what is normally available for children of same age. Early education settings are perfect to observe patterns of development, the settings determine what the issues are and set up programmes of support from which the child benefit. The early support programme – was developed by car ers practitioners and parents and it is used for families with disabled children and gives families and people working with children support, guidance and resourses . It promotes multi-agency working and the consistency of approach to the care and well-being of the child .Common assessment framework – is a key part of the governments aim of delivering frontline services that are focused on and around the needs of children and young people. It helps to identify needs and promotes coordinated service provision. Children with additional needs often require support from more than one agency or more than one local authority and they pull together the information they gather to identify aspects of the childs learning and development. Observation, – observing children is important for a childcare practitioner to practise because it is an essential element of being able to assess a childs development. It can be used to strengthen virtually every aspect of an early childhood pr ogramme.Methods of observation are: Time sampling Event sampling Participative observation Longitudinal â€Å" Taget child â€Å" Naturalistic â€Å" Structured â€Å" In order to make the most of any observation the observer should record what they have witnessed, and every child should have their own file, and only be used in ways to maintain confidentiality. Observation is how you find out the specific needs of individual children and you can then plan the next steps in the childs development and learning. Assessment – is the process of analysing and reviewing what you know about the childs current level of development and learning.When you assess you are judging what the next step will be for the child to improve. There are two types of assessing, formative and summative. Profiling – is a system of recording a childs personal achievements in all areas of development. There are now computer systems available that record childrens profiles and analyse many more options. After making observations and assessments you must use the results to identify learning priorities and plan relevant and motivating learning experiences for each child. Any concerns about a childs progress should always be discussed with parents and colleagues to identify wheather intervention may be required.Planning includes : Planned activities Unplanned activities Child-centred planning Long term development plan Short term development plan Individual development plan Whaever the plan is, they all need evaluating, reviewing and maybe re-planning. The childcare setting should monitor the progress of each childs learning and development, it is important because it will enable the childcare worker to establish how far the child has moved the settings long term objectives for the child. Whether the learning and development of the child is moving towards achievement . Whether the settings planning and implementation of the EYFS is being effective in progressing the chil drens development.Apart from all of the above we have to provide the right environment so children can learn and develop , children thrive best in an environment that supports their active and learning development. Debbie England EB1257620 R/601/1694 Q2a, Explain the factors that need to be taken into account when assessing development? Observing a child at work or play will help you assess and provide evidence of the range of the childs work, progress and attainment over time. It will also enable you to find out about the specific care and learning needs of each child and subsequently plan the next steps in the childs development and learning.To make an assessment you should gather together all relevant information about the child. This information should contain observations over a period of time. Development Learning Health Behaviour Academic progress and need for special services Any assessment carried out should be based on: Thorough knowledge of child development. Parents obse rvations of their childs development during the time.Observations of other practitioners who have worked with the child. Analysis of observations of the child against milestones and approximate expectations. The result of the assessment can be used to develop or amend plans for a childs individual care, learning and development and gude any curriculum decisions. This may include any of the following actions: Plan for the childs next steps for learning in an individual learning plan. Set goals for individual children that are realistic and within their capabilities. Provide appropriate play activities to stimulate the next stage of development.Set realistic expectations for the childs behaviour. Identify any developmental delay and, in conjunction with the parents, consider the need to seek help from specialists. Provide individual help in a specific aspect of development where it has been observed as necessary. Suggest introducing a behaviour modification programme. Leave the curren t plans for a child unchanged because the setting is satisfied with the childs progress or development. The assessment should always be discussed with the parents and that the parents share the same views about their childs stage of development. Q2b. Explain the selection of the assessment methods used to assess children?Formative assessment – is based on observations, which inform or guide everyday planning. When performing a formative assessment you need to ask yourself. What do your observations and any other evidence of learning you have collected tell you about the childs learning and development? ( examples of art work, information from parents or a photo you took. ) What was new- was there something yoy had not observed before? When you do this regularly, you will gain evidence of the childs progress over time and you will gain insights into his/her learning, development and their future needs.It is important that a childs parents are included in the assessment proces s, so they can share their views and observations about the childs development and being involved in planning what opportunities and experiences should be offered to the child. Assessments might be required in different formats :eg Filling in a checklist Answering a series of questions or writing a free and unstructured description. You must know what format you are to record achievements, difficulties, behaviour, physical performance and comment on whether the child has reached the agreed targets. And make sure theres confidentiality. Summative assessment – Is a summary of all formative assessments carried out over a long period of time.The EYPS profile is the summative assessment completed by practitioners, it summarises childrens progress towards the early learning goals. Within the final term of the EYPS providers must provide the parent of each child with:- A copy of EYPS profile if requested by parent. A written summary reporting childs progress against the early learni ng goals and the assessment scales. Details of the arrangements under which the EYFS profile and its results may be discussed with the parent. Planning for the next step in a childs development should be done on the information you have collected from your own observations , assessments and information from parents.Debbie England EB1257620 L/600/8782 Q3aExplain each of the areas of learning and development and how these are interdependent? Learners use all their sense to receive information. One or more styles is normally dominant. This dominant style defines the way a person learns new information. The learner may prefer one style of learning for one task, and a combination for another task. Carers should present information using all three styles of learning, it allows a learner to be presented with the other two methods as well, they all help children learn faster by reinforcing the material.Auditory learners often talk to themselves, they also move their lips and read aloud, th ey may have difficulties with reading and writing tasks. Many people assume reading is a visual action, although we see words, most of us process information by hearing ourselves say the words. Auditory learners fall into two categories. 1. The less understood auditory learners need to hear their own voice to process the information, they are those who need to talk it out. In a class setting when the instructor is not asking questions, auditory-verbal processors tend to mutter to themselves. 2. Some auditory learners prefer to listen both to themselves and others. Listeners are more likely to do well in school.Visual learners – linguistic and spacial, Visual learners prefer to see what they are learning, pictures and images help them understand ideas and information better than explanations, they may create a mental picture of what is being described. They may watch a speaker talk as well as listen. Visual – linguistic learners like to learn through reading and writin g tasks, they remember what has been written down. They also like to write down directions and pay better attention to lecturers if they watch them. Learners who are visual-spatial have difficulty with written language but do better with charts, videos, demonstrations and other visual materials. Kinaesthetic or tactile learners do best when touching or moving. Tactile learners want to touch.Kinaesthetic learners want to sense the position and movement of what they are working on. Even if they don`t get much from discussions or written materials , they may catch up by working through scenarios. Most classrooms don`t offer enough opportunities to move or touch. Sometimes we can sense the way they process information by what they say. A visual learner may say â€Å"I see your point† An auditory learner may say â€Å"I hear what your saying†. A kinaesthetic learner may say â€Å" I feel we are moving in the right direction†. All areaof development are important and all impact on one another.Physical development includes all movement skills and can be supported by providing Space Materials Equipment and Activity Social development include learning social skills, emotions, caring for others, self reliance, decision making, developing self confidence and forming relationships and can be supported by providing Praise Guidance Giving children chance to spend time with others Activities Encouragement Opportunities Listen to children Supervision Emotional development can be supported by Being warm and affectionate Opportunities to express how they feel Making them feel safe , secure and valued Giving them time and attention Intellectual development includes attention span Reasoning Developing memory Logic thinking and questioning Understanding information and can be supported by providing Games like I spy Getting children to help you Asking and answering questions Activities Playing make-believe Looking at plants, animals etc Talk about what they have seen Look at computers with them.Language development includes understanding and aquiring language, vocabulary and body language and can be supported by Asking questions Discussions about books, pictures etc Ask children to give information about themselves Ask children to recall something from the past. By using all these learning and developing methods , which work interdependently, help the child learn by experience, contact with others and environment.Adults who support this learning and developing process play a crucial part in ensuring that children gain maximum benefits. Children learn by doing, imagining what they have been doing and then turning what they know into symbols such as speech, drawing and writing. Q3b. Describe the documented outcomes for children that form part of the relevant early years framework? Documented outcomes should consist of a short discription of how the child demonstrates the three characteristics of effective learning. Playing an d exploring Active learning Creating and thinking critically.These discriptions must reflect on going observations of the child within formative assessment processes and should take account of all relevant records held by the setting and include information from the child, their parents and other relevant adults. Playing and exploring – engagement . Finding out and exploring is concerned with the childs open-ended hands-on experiences which result from innate curiosity and provide raw sensory material from which the child builds concepts, tests ideas and finds out. Using what they know in their play describes how children use to play to bring together their current understandings, combining, refining and exploring their ideas in imaginative ways. Representing experiences through imaginative play supports the development of narrative thought, the ability to see from other perspectives and symbolic thinking.Being willing to have a go refers to the child finding an interest, in itiating activities, seeking challenge, having a `can do ` orientation, being willing to take a risk in new experiences, and developing the view of failures as opportinities to learn. Active learning – motivation Being involved and concentrating describes the intensity of attention that arises from children concentrating on following a line of interest in their activities. Keeping on trying refers to the importance of persistence even in the face of challenge or difficulties an element of purposeful control which supports resilience. Enjoying achieving what they set out to do refers to the reward of meeting one`s own goals,building on the intristic motivation which supports long-term success, rather than relying on the approval of others.Creating and thinking critically – thinking Having their own ideas covers the critical area of creativity – generating new ideas and approaches in all areas of endeavour. Being inventive allows children to find new problems as they seek challenge, and to explore ways of solving these. Using what they already know to learn new things refers to the way in which children develop and link concepts, find meaning in sequence, cause and effect and in the intentions of others through both narrative and scientific modes of thought. Choosing ways to do things and finding ways involves approaching goal-directed activity in organised ways making choices and decisions about how to approach tasks, planning and monitoring what to do and being able to change strategies. The following etails listed below are the ares of learning of the early years foundation stage 1. Listening and attention 2. Understanding 3. Speaking 4. Moving and handling 5. Health and self-care 6. Self-confidence and self awareness 7.Managing feelings and behaviour 8. Making relationships 9. Reading 10. Writing 11. Numbers 12. Shape,space and measures 13. People and communities 14. The world 15.Technology 16. Exploring and using media and mate rials 17. Being imaginative. During final year of the early years framework practitioners must undertake ongoing (formative) assessment to support each childs learning and development. There is no requirement that this is recorded in any specific manner or at specified points in time, practitioners should be mindful of their professional responsibilities for the learning and development of every child in their care and plan the provision needed to enable children to take the next steps in their learning .In the final term of the EYFS practitioners must make a judgement for each child using information from all sources to make a judgement for each ELG. Practitioners must make a judgement for each ELG as to whether the childs learning and development is best described by:- The description of the level of development expected at the end of EYFS (expected) Not yet at the level of development expected bt the end of the EYFS(emerging) and Beyond the level of development expected by the end of the EYFS (exceeding). Q3c. Explain how the documented outcomes are assessed and recorded? PLEASE UPLOAD YOUR ASSIGNMENT ONTO THE VLC IN THE UNIT 1 SUBMISSION AREA Learning OutcomesAssignment question 1 L/601/1693 1-3 a. Explain the sequence and rate of each aspect of development from birth – 19 years. b. Explain how theories of development and frameworks to support development influence current practice. c. Explain how to monitor children and young people’s development using different methods. d. Explain the reasons why children and young people’s development may not follow the expected patterns. e. Explain how disability may affect development. f. Explain how different types of interventions can promote positive outcomes for children and young people where development is not following the expected pattern. 2 R/601/1694 1-2 a.Explain the factors that need to be taken into account when assessing development. b. Explain the selection of the assessment metho ds used to assess children. 3 L/600/8782 1,3,5 a. Explain each of the areas of learning and development and how these are interdependent. b. Describe the documented outcomes for children that form part of the relevant early years framework. c. Explain how the documented outcomes are assessed and recorded. d. Explain how practitioners promote children’s learning within the relevant early years framework. e. Explain the importance of engaging with a child to support sustained shared thinking. f. Reflect on own practice in supporting learning and development of children in their early years.

Essay on Slavery Throughout Time Essay

One might describe money as being stored up labor; therefore to make money you must simply labor. This is how industries all around the world have made money, by paying workers to labor. However if you could have your workers labor for no pay then you yourself would essentially be making free money. The appeal of this free money is why slavery has been a predominant trend throughout history. It doesn’t matter what the labor is but, there are three main types of slavery that have been present in the world and those are labor slaves, war slaves, and trafficking slaves. I predict that slavery will continue to exist in the future because the appeal of free money it is too great, wars will bring with it war slaves, humans have a natural sex drive which means there will be a steady need for trafficking, and because there will continue to be people who believe they are above other humans. The greatest account of slavery for simply labor and free money without the presence of war is the African slave trade that existed in the early Americas. Europeans would sail to Africa and bring over boat loads of African people to the Caribbean and the colonies in North America, where they were forced to labor. They would be bought by people and then would usually end up Rydalch 2 working on a plantation. The plantations would have them do a variety of tasks. The slaves would be beaten and lived in horrible conditions, some would try and escape and others would not because of the fear they had of being caught. This type of slavery of enslaving innocent people and forcing them to labor rarely exists in today’s world. In most first world countries there are laws that prevent this from happening but there may be rare occasions in other parts of the world in which this happens. The reason that slavery such as this is so appealing is mainly because of the wealth that it can bring you. It can put you in a more prestigious class without actually having the intuition to get there. I also think that some of the slave masters enjoyed there power and took pride in the fact that there were people who feared them. I think that this version of slavery will continue to diminish in the future. Warfare as been a factor of human civilization since human civilizations began and it will continue to be a factor. War can result from a number of things and it can lead to a number of things. The winner of the war however can take their land and their people. When they take the people these people could possibly become slaves of war. Many ancient civilizations captured people to be used as slaves when they were at war, such as the Egyptians. The slaves were held in a variety of conditions depending on who enslaved them. As long as there is still war in the world then there will still be slaves of war, whether they are forced to labor, used as prostitutes or are just held hostage. In the future I believe that slaves of war will not be forced to do labor but will more likely be held as hostages or forced into prostitution. Rydalch 3 The more modern issue involving slavery is not that of labor slaves or slaves of war but it is slaves of human trafficking. Human trafficking is when people are held against their will and are usually forced to do sexual acts with those who pay to do so. The reason why human trafficking can be a successful business is because humans have a natural sex drive. Human trafficking taps into this natural longing and gives people a way to pay their way to satisfaction. The people who run the trafficking don’t have to pay the women who perform the acts. That is what separates human trafficking from prostitution. This is the most predominant type of slavery in the world today because of laws that have restricted other types of slavery. People all around the world abduct girls anywhere from teenagers to adults; they then sometimes addict them to drugs or other cruel things. Most often they are forced to do sexual acts with customers. The world is taking notice to this and some things are being done to try and stop it. Google recently made huge contributions and donations to try and prevent this from happening. I however think that human trafficking will continue on into the future. Although it may not grow it will always be there because humans will always have a natural sex drive, and people will always be looking for means of satisfaction. With the African slave trade that I mentioned earlier in my paper, they were taking innocent people and putting them to work. In today’s world we would find that to be extremely unjust, unlawful, and immoral. However back when the Europeans were doing it they did not think that what they were doing was bad. They thought of themselves as being superior to the rest of the world. They thought that since the African people were of dark skin and frankly not Rydalch 4 European that they were below them and therefore taking them as their slaves was no problem whatsoever. This reason for enslaving other people rarely, if ever, exist in today’s modern world. This is because all humans have accepted that we are all the same species and that we all of certain rights. I do not see this form of slavery rising to power again in the future unless one civilization takes over the whole world, which is extremely unlikely as you may know. Over the course of following my trend of slavery I discovered many things about the different forms of slavery and the motives behind each of them. By understanding these I was able to make my predictions about whether or not I thought they would continue in the future. Many of them are nearly non existent today which provides for easy predicting of its future, while others I was not sure on. I discovered that the ultimate reason for slavery along with many other things in the world is money. Slavery provides for a way to get free money and it is not that hard to do, especially before modern laws were put in place. Today all forms of slavery are frowned upon greatly and are deemed by most morally wrong and lawfully wrong. This is why there are things being done to stop it, but no matter how many laws you pass there will still be people who try to do it. Slavery will continue to exist in the future because the appeal of free money it is too great, wars will bring with it war slaves, humans have a natural sex drive which means there will be a steady need for trafficking, and because there will continue to be people who believe they are above other humans. The worlds view on slavery might change but for the near future I see it Rydalch 5 staying the same. The modern view on slavery is clearly for the majority that it is a bad thing. However in the future it could be that slavery is accepted, but only time will tell.

Cause Effect of European Exploration

All of Europe had the excitement and hesitation of finding new places. There were many reasons for Europe to grow and expand, some of the causes for Europe’s expansion were; a search for new trade routes, religion, new technology, the desire for new products and gold. Europe wanted to find a new trade route to Asia because they wanted the silk, spices, jewels, and riches from China and India that were very valuable. One of the problems that were faced was that when they arrived in Western Europe, the products had been taxed so many times along the way that they were extremely expensive. They wanted to find a route around so that they could get the goods first. They wanted to find a northwest passage. Christian rulers in Europe wanted to spread their religion of Christianity throughout the overseas exploration, they felt they had a duty to keep fighting for Muslims but also to convert non- Christians throughout the world. Bartolomeu Dias (Portuguese explorer) said that his motive was â€Å"to serve God and His Majesty, to give light to those who were in darkness and to grow rich as all men desire to do. † European explores had better navigation skills and equipment to help them find their way. They had a compass and moveable rudder which allowed the explorers to sail even further than before. They also used an astrolabe which used the stars to determine how far north or south they were from the equator. European explorers were on a mission to find these new lands and new technologies, those causes stimulated effects for the aftermath of the exploration. One of the effects on European exploration was the Columbian Exchange. This exchange consisted of trading between the Americas, Europe, Africa and Asia. The Americas sent over squash, pumpkins, turkey, peanuts, potatoes, tomatoes, corn, sweet potatoes, peppers, tobacco, pineapple, cacao, beans and vanilla. Europe, Africa and Asia sent over citrus fruits, bananas, grapes, sugar cane, honeybees, onions, olives, turnips, peaches, pears, and coffee beans. They also sent over items other then food such as grains, wheat, rice, barley and oats. They sent many types of live stock and a huge thing they sent over was disease. The Triangle Trade was another trading system between New England the West Indies and West Africa. New England sent West Africa rum, guns/ gunpowder, cloth and tools. West Africa sent sugar and molasses to New England and New England sent back livestock, lumber, flour and fish. As the trading increased during the sixteenth and throughout the eighteenth century, millions of people were taken out of their home and deported to plantations in the New World. Europeans risked their lives to explore new lands, the expansion abroad come with hopes for land, riches and social advancement. Cause Effect of European Exploration All of Europe had the excitement and hesitation of finding new places. There were many reasons for Europe to grow and expand, some of the causes for Europe’s expansion were; a search for new trade routes, religion, new technology, the desire for new products and gold. Europe wanted to find a new trade route to Asia because they wanted the silk, spices, jewels, and riches from China and India that were very valuable. One of the problems that were faced was that when they arrived in Western Europe, the products had been taxed so many times along the way that they were extremely expensive. They wanted to find a route around so that they could get the goods first. They wanted to find a northwest passage. Christian rulers in Europe wanted to spread their religion of Christianity throughout the overseas exploration, they felt they had a duty to keep fighting for Muslims but also to convert non- Christians throughout the world. Bartolomeu Dias (Portuguese explorer) said that his motive was â€Å"to serve God and His Majesty, to give light to those who were in darkness and to grow rich as all men desire to do. † European explores had better navigation skills and equipment to help them find their way. They had a compass and moveable rudder which allowed the explorers to sail even further than before. They also used an astrolabe which used the stars to determine how far north or south they were from the equator. European explorers were on a mission to find these new lands and new technologies, those causes stimulated effects for the aftermath of the exploration. One of the effects on European exploration was the Columbian Exchange. This exchange consisted of trading between the Americas, Europe, Africa and Asia. The Americas sent over squash, pumpkins, turkey, peanuts, potatoes, tomatoes, corn, sweet potatoes, peppers, tobacco, pineapple, cacao, beans and vanilla. Europe, Africa and Asia sent over citrus fruits, bananas, grapes, sugar cane, honeybees, onions, olives, turnips, peaches, pears, and coffee beans. They also sent over items other then food such as grains, wheat, rice, barley and oats. They sent many types of live stock and a huge thing they sent over was disease. The Triangle Trade was another trading system between New England the West Indies and West Africa. New England sent West Africa rum, guns/ gunpowder, cloth and tools. West Africa sent sugar and molasses to New England and New England sent back livestock, lumber, flour and fish. As the trading increased during the sixteenth and throughout the eighteenth century, millions of people were taken out of their home and deported to plantations in the New World. Europeans risked their lives to explore new lands, the expansion abroad come with hopes for land, riches and social advancement.

Financial management analysis Essay Example | Topics and Well Written Essays - 2750 words

Financial management analysis - Essay Example The loan taken by the company is paid back at some future specified date. The interest at which the debt financing is done is called the cost of debt Emmanuel (2012). In debt financing full ownership is retained by the company but the company has to repay the sum due on bonds issued or loan taken before repaying the equity investors. A company with high debt-equity ratio means a company which is highly leveraged or highly reared. According to Chandra (2011) the debt-equity ratio or leverage of a business firm influences the cost of capital and simultaneously the value of the firm. In order to form the desired capital structure a business should be based on minimum cost of capital and maximum value possible of the firm. The portion of capital which is raised by sale of shares or stock is known as equity capital. This capital is owned by the shareholders and involves certain level of shareholders expectation on the investment made. In order to retain the shareholder investment it is ve ry important to ensure return in the form of dividend and appreciation in share price. According to Wiley (2007) the risk of the shareholders is comparatively more than the debt-holders; however, in equity financing a distribution in ownership takes place. A company has two primary sources to raise its capital: debt and equity. According to Graham (2012) to measure the cost of capital of a firm, WACC technique is used. This technique allows the company to determine the accurate cost of financing of any project by allocating suitable weightage to the different sources of finance available . Walmart Stores Inc. is one of the old and renowned names in the retail industry that has been serving the nation with different retail structures like cash and carry stores, supercenters, apparel stores, bodegas, small discount stores, food and drugs, general merchandise stores and restaurants. The company is committed to serve the

Marketing Essay Example | Topics and Well Written Essays - 1500 words - 25

Marketing - Essay Example r that is usually thrown away is recycled and introduced into the value chain again as a new product and it must be noted that this takes less energy than using unprocessed raw materials. Paper normally thrown away from a hole punch is pulped using manual methods and it is made into different products which include stationery and document holders, artifact related products such as decorative frames depicting various pictures, paper vases, bags as well as paper towels among others. Stationary holders or vases can be skillfully made used recycled paper which is first pulped to take another new from. These holders can be molded into different shapes depending on the desire of the artists. These holders are more suitable for housed hold or official use where they are kept on desks where movement would be limited. In most cases, these vases would also serve the decorative purpose. Other products which can be made using recycled paper include decorative frames that can be hanged on the walls either in homes, offices or other public buildings such as halls or churches. Manually recycled paper often produces hard card boards which can be easily used as wall or picture frames. These frames are either decorated with various pictures depicting different artifacts or different messages can be inscribed on them. Holding bags of varying sizes can also be made from recycled paper as well. b) These products are likely to be in demand as a result of the fact that they would have been skillfully made in such a very attractive manner. In most cases, these products from waste paper are meant for decorative purposes meant to display artistic prowess by different artists. Art is used for different purposes in life hence, there would be likely chances of products being demanded by those who naturally admire hand made crafts. Indeed, artifacts are used for various purposes and there is need for the artist to first identify different things that can interest as well as satisfy the needs

India class structure Essay Example | Topics and Well Written Essays - 250 words

India class structure - Essay Example The ruling class or the dominant class is the most important and the most benefitted class. The dominant class determines the utilization of the economic surplus and majorly comprises of business bourgeoisie, rich landlords, politicians etc. Lying between these two extremes is the middle class who benefit partially from the growing economy and who also are major contributors to the labor force of the country. Another major important point of difference between the three is their contribution to the working force. The lower classes that provide most of the man power are engaged in physical work whereas the middle classes are engaged in most of the work that involves the government and private sectors and are huge contributors to the economy. The higher classes hold positions of importance but this class particularly contributes much less manpower but are particularly responsible for controlling and management of the other classes below it. The primary factor responsible for the three different class systems in India is determined by the economic surplus and the growing economy of the country and the contributions of each class too depends on the development and fully fledged of the annual

Assignment #5 Research Paper Example | Topics and Well Written Essays - 500 words

Assignment #5 - Research Paper Example that have to be applied by the participants to score positively in all other succeeding levels, which concern with changes in behavior, results, and ROI (Phillips, 1997, p.43). In calculating Cost/Benefit Ratio, the total benefits are divided by the cost while for assessing ROI formula, â€Å"the costs are subtracted from the total benefits to produce the net benefits, which are then divided by the costs" (Phillips, 1997, p.43). Thus ROI is the Cost/Benefit Ratio calculation that is done by taking not the total benefits but the net benefits, which is calculated by subtracting total costs from the total benefits. The ROI formula takes into account the tangible costs and benefits alone while Cost/Benefit Ratio incorporates both tangible and intangible costs and benefits, thereby being more comprehensive (Phillips, 1997, p.73). The most often used validity testing approach is content validity just because it is more â€Å"cost-effective† (Phillips, 1997, p.90). This is also so because the â€Å"successful mastery of program content† as is shown by this validity test will be â€Å"related to improved job performance† (Phillips, 1997, p.280). Control groups, customer input and forecasting model are three methods that can be used to isolate the effects of an HRD training program (Phillips, 1997, p.105, 197, 70). In the control group method, it is the â€Å"results of the experimental group, when compared to the control group† that show the â€Å"impact of the HRD program† (Phillips, 1997, p.105). In a training program that is intended to ensure that customers come back to the company, customer input could be a valuable strategy to isolate the effects (Phillips, 1997, p.197). In a situation where â€Å"input and output variables are known†, it is easy to predict the effects out of logical reasoning and common sense and hence the forecasting model will be an effective method to isolate effects (Phillips, 1997, p.70). It is for consistency of data that an evaluator should gather

Singapore Model Essay Example | Topics and Well Written Essays - 1000 words

Singapore Model - Essay Example Singapore’s description of state capitalism is that the government has controlling shares in various public corporations and issue funding through the sovereign wealth fund (SWF). The SWF is state-owned capital funds used for real and financial asset investments in stocks, bonds or other alternative ventures. The funds are applied universally from export revenues or foreign exchange reserves in the custody of the central bank. Considering this, Singapore attracts multinational organizations to take the global SWF benefits. The country also imposes business friendly regulations that favor the establishment of multinational organizations. The Singapore’s capitalism Model incorporates the private and public-owned companies towards an overall contribution to the economy (Tajuddin 54). The availability of the SWF has enhanced domestic investment in which the local industries are capable of manufacturing large-scale production. As a result, the state-owned companies transform into global enterprises that serve other regions with quality products. It is apparent that the SWF contribute to government social spending without raising taxes because they represent the budgetary surplus owned by the central bank. Similarly, the SWF does not have international debts accrued from government borrowing. The country creates SWF in order to boost economic activities inspired to promote the state-owned enterprises. Singapore depends on services and manufacturing exports, with little government interference.

International business Essay Example | Topics and Well Written Essays - 500 words - 10

International business - Essay Example It means the values reflect the country’s ideologies of democracy after coming from a Civil War and their Muslim dominated populace at approximately 71.3 percent. Christianity follows closely at 20 to 30 percent of total population meaning religious violence is hardly witnessed in the country. On that account, most of above cultural analyses often result to various opportunities such as encouraging ethnic tolerance between citizens who still bear fresh memories of the Civil War. Other opportunities include fostering an African identity and nationalism to promote virtues such as honesty, trust, and love (Duncan et al 133). However, there are also threats that could be orchestrated by aspects of culture in terms of religion domination that could erupt into sectarian violence to another ethnic conflagration. Another imminent threat entails backward beliefs that fail to integrate emerging changes occasioned by technology and globalization as noted with the country’s immense potential. Geography and climate are vital factors for anybody with prospects of establishing any international meant to attract a global clientele. In Sierra Leone, for instance, with its location at the west coast of Africa has lowland plains, which harbour forests, farmland, and bush. It implies that the country’s weather is moderate for exploring opportunities such as creation of different forms of infrastructure. On that note, infrastructure entail passable roads and railway lines that can facilitate transport of goods and services. Another opportunity involves the forest-savannah ecoregion that equally supports a business that can thrive in tropical areas such as Northern parts of Sierra Leone. Unfortunately the geographic and physical parts of the nation have also elicited numerous threats for potential investors particularly for doing international business (Haggett 108). Unsustainable

Information Systems (Word Processing Assignment) Essay

Information Systems (Word Processing Assignment) - Essay Example Served with potato chips or substitute Safari fries for $1.49 Add a House salad or cup of soup for $4.99 - $10.99 Blue Mountain Chicken Sandwich - Tender grilled chicken breast, Cajun seasoned and topped with bacon, Swiss cheese, roasted red peppers and leaf lettuce. Served on a toasted bun with spicy Safari sauce and coleslaw. Add a House Salad or cup of soup for $4.99. - $12.99 Buffalo Fried Chicken Salad - Golden fried chicken tenders atop crisp greens, red cabbage, tomatoes, and carrots, in a chunky Blue cheese dressing. Garnished with crumbled Blue cheese and Buffalo sauce. - $13.99 Caribbean Coconut Shrimp - Tender shrimp rolled in fresh coconut and fried to a golden brown, served with sweet mango sauce, Caribbean rice and Napa veggies. Add a House salad or cup of soup for $4.99 - $18.99 Chicken Fried Chicken - Breaded chicken breast, lightly fried golden brown topped with country gravy and Napa vegetables. Served with red-skinned garlic mashed potatoes and Napa vegetables. Add a House salad or cup of soup for $4.99 - $16.99 Sparkling Volcano - Enough for 2 or more people! Giant rich chocolate brownie cake stacked up high, served warm with vanilla ice cream, fresh whipped cream, and topped with caramel and chocolate sauces. - $14.99 Selection of Beverages - Coke, Diet Coke, Cherry Coke, Sprite, Root Beer, Raspberry Iced Tea, Iced Tea, Hot Tea, Milk, Coffee, Natural Still or Sparkling Water, Lemonade, and Cranberry, Pineapple, or Orange juice. Prices

Financial Analysts Questions Essay Example for Free

Financial Analysts Questions Essay Technical Questions 1. Can you explain quarterly forecasting, updating revenue and expense models? 2. What projects have you implemented these skills? 3. In conjunction with these projects how do you execute input of detailed plans and forecast into the financial systems? 4. Describe how you coordinate plan transfers. 5. Are you familiar with creating daily sales reports? 6. What processes do you use to create reports? 7. Have you created month-end sales reports? 8. Have these reports involved your knowledge of analysis concerning actual and planned revenues, balance sheets and expenses? 9. Can you describe the practices you use for analysis of financial and management reporting? 10. Do you have experience in annual planning processes? 11. What profitability models have you used for forecasting a project? 12. Are you familiar with developing business casing and ad hoc analysis? 13. How would you maintain these items during a project? 14. Have you ever worked on a budget for an expansion program? 15. What financial practices did you target for this project? Responsibility 1. How do you relate with program administrators and financial personnel? 2. Do you compile and share monthly data involving income, investment, sales forecasting, shipments and cash flow reports? 3. What long range plans have you implemented for the business area? 4. Are you accounting and knowledge of financial systems abilities used to corporate profit/loss reports? 5. Have you been responsible for maintaining a financial system database? 6. Have you ever prepared work force reviews? Technical Tasks Questions 1. What computer systems would you use to prepare illustrated technical reports using graphs, spreadsheets and draw charts? 2. What various securities in this industry are you familiar with and how would you compare and evaluate? 3. How do you Interpret data concerning investment programs? 4. Can you define price yields, stability economic influences, future trends and investment risks? 5. How do you achieve knowledge of developments in the fields of industrial technologies? 6. Can you relate some basic business, finance and economic theories? 7. What monitoring skills do possess involving economic, corporate and industrial developments? 8. What steps do you take when preparing plans of action for financial analysis? 9. Have you presented oral or written reports on entire industries, individual corporations or economic trends? 10. Can you describe some recommendations you have to companies or individuals concerning investment procedures? 11. How do you attract new corporate clients? * How has your degree prepared you for a career in Financial Analysis? * Tell me about a financial analysis you completed on a case in one of your classes? * Describe a previous situation where you have demonstrated your analytical skills. * What interests you most about a financial analyst position? * What quantitative courses have you completed? What were your grades in each of them? * How will you be able to handle working long hours and studying for the CPA exams at the same time? * How can India improve its competitiveness? * What stocks do you follow? Why? * What is a cash flow? * What is a present value analysis? * Describe at least three methods of valuing a company. * If you had a $1,000 investment that went down 40 percent and then up 20 percent, what would your investment be worth? * What is your opinion of derivative statements? * Describe EVA and how it can be used to determine the attractiveness of potential projects. * Describe the advantages and disadvantages of using EVA, NPV, discounted cash flows, and payback period as methods of determining the attractiveness of potential projects. * Explain activity-based costing. What are its pros and cons? * Explain marginal costing and standard costing. * Explain ratio analysis. * How does A/R and inventory fluctuations affect the income statement? * Walk me through a DCF analysis. * How do you get to EBITDA from revenues? * When you are given a large financial analysis project to do, what are the first things you do? * Describe a decision you had to make on your own regarding the credit risk of a new client. What was the outcome? * Tell me about a financial analysis decision you got wrong. What was the outcome? What did you learn from the experience? * Describe your level of experience with the software used in your position as a financial analyst. * What steps have you taken to improve your technical writing ability?

Duopoly Coles vs Woolworths Essay Example for Free

Duopoly Coles vs Woolworths Essay For most of us its just part of everyday life decisions. Where to shop for the week, Coles or Woolworths? Should I drink Pepsi or Coke today? Do I go to MYER or David Jones to buy new make up from? We take in consideration a few prices, how convenient it will be to get there, what would we rather do, and that’s it. But there’s something bigger behind this. What is the impact on such big rivals, for us and the economy? It’s not just about personal choices. Living and studying in Australia for the past 11 months, going to do my grocery shopping at Coles or at Woolworths has become part of my routine. And because it is such an ordinary thing to do, we tend to forget that we make part of a much bigger picture, and are contributing to several factors regarding the Australian economy. However, this race for the best has its advantages and disadvantages, and of course, this is affecting us as well. The Price War One of the advantages of this never ending battle for us customers, are the low prices. Because there is such a big competition for prices, each of the supermarket brands will try to make it as affordable as possible to the consumer, as a reaction to get competitive advantage. One big example of this war is the milk price. Both supermarkets can sell milk for $1. It is very difficult to make any profit if you’re selling products at such a low price, as Rob Murray, the chief executive for the food and beverage group Lion stated. However this issue does not affect us consumers on a day-to-day basis, and the low prices keep us happy and of course, keep us shopping at these big supermarkets. Everyone wins with the Rewards Programs Another good thing for the shoppers at these two big chains is the rewards systems they have. And we win again. Despite the cheaper price war having been leaded by Coles the majority of times, Woolworths seems to have another way of fighting. Their CEO Grant O’Brien came out with a new strategy: the Everyday Rewards. The more the customer shops, the more discount they get. Users of the cards get exclusive offers, discount on fuel and can even earn Qantas flyer points. And not only in Woolworths, they have retail partners like Big W, Dick Smith and Cellarmasters that will also benefit the customer. Coles also has their rewards system, the Flybuys. With this card, apart from the exclusive offers on Coles and affiliated firms products, the customer collects points at every purchase, which can later be changed by different prizes. But this is not only good for the consumers. Its basically the company saying that they will give us prizes, in exchange for our information. A Rewards system allows the firm to collect data about their customers, which they can use in their favour, to create loyalty and promote trust. With the Everyday Rewards, Woolworths has been able to collect a good amount of information, while Flybuys is still in the process of build its strength. Easy and Simple Another very good thing for the customer about these two big brands is the convenience. Everywhere we go, every big shopping center and busy area in a suburb will have at least one of the two, if not both. Coles and Woolworths have very strong analysts that will know where to place their shops, and if there is an area lacking one, it’s probably not because they are still to build one, but because that are would not be so profitable yet. So for us, wherever we want to shop, we can always find one of these, and do not have to travel any long distance to get to one of these stores, as they are located almost everywhere too. Even for the most loyal customer from the small shops, sometimes it’s a lot more convenient to visit one of the big supermarkets, and they will end up buying something from there. Someone might be losing Unfortunately it’s not all flowers. For us to be paying such low prices, someone is losing money somewhere, and it’s not the big supermarkets. Because they are such big brands, suppliers need to have their products in their shelf. Coles and Woolworths claim they have built very strong relationships with their suppliers, and it might be true, but a lot of the smaller suppliers are getting ripped off. They â€Å"bully† the suppliers to sell their products at really low prices, and they know they have this power, otherwise they won’t sell enough. They will also charge more to have the  products placed in good positions on their shelves. A lot of the times the prices suppliers are charging are so small, that they are struggling to survive with these sales, and it generates another whole big problem. Creating Enemies The ones losing with the big duopoly from Coles and Woolworths are the smaller suppliers, and the smaller shops too. But not every customer is just happy in paying small prices, they want to make sure everyone involved is protected. For this reason, there is a big pressure on ACCC from suppliers and the smaller businesses which don’t have a chance to compete. There is a party called Australian Green, and they fight strong against the practices these two supermarkets have againg farmers and small suppliers. Their objective, as they state on the website, is to â€Å"tackle the supermarket duopoly†, and the measures they are willing to take are strong. For example, put a temporary ban on expansion from Coles and Woolworths, or stopping this duopoly to purchase agricultural land, so they can’t control the whole supply chain. The ACCC is also holding an investigation about the bullying of suppliers. While most of us will not care that much about the situation these su ppliers are in, or will not have option to shop somewhere else, there is a big group who does care. These are customers who are willing to pay more, but do their groceries in a small shop so they can help that business, and also do not buy the products from exploited suppliers. No more competition Unfortunately, the group of very unhappy customers mentioned before is not large enough to make sure the small businesses will survive. With such low prices and big chains, the two major supermarkets will not give a chance for a smaller business to survive in the middle of this war. It is just impossible to compete with the two major supermarkets prices and their powerful middlemen, and the small shops start disappearing. Without competition, a lot of the products that do not have space on Coles or Woolworths shelves may also disappear, and this will also have a big impact on the economy as there is unemployment rising. This process will damage Australia food’s industry, and with the lack of new firms it might mean a lack of new products, and the whole market can go stale. Tricking the customers To have products at such low prices, as it was mentioned before, the suppliers will end up losing. But the customers might also lose sometimes. For example, the free range eggs case. Both Coles and Woolworths claim that they want to help customers switch from industrialised to free range eggs, by cutting the prices on the second one. However, the suppliers pay for the price that we are not, as it is impossible to have a free range egg production at such low prices. The customer will end up buying free range eggs thinking they are contributing to improve the animal welfare standards from the supermarkets, however, they do not know that they are still purchasing the â€Å"industrialised† free range eggs, the free range version of these two big supermarkets. Even though it seems there are more disadvantages to small businesses and suppliers than there are advantages for us customers, it is not the number, but the quality of these advantages that count. This battle is far from the end, because it is not likely that the masses will stop shopping at Coles or Woolworths anytime soon. However, the ones that are more conscious about it can only expect that it will make a difference in the future, when the ACCC take strong measures or the political inaction ends, and someone who genuinely cares and is strong enough to change this is put in charge. In the meanwhile, we will keep enjoying the convenience to just walk for 10 minutes and find a shop, or receive rewards and discount on products and even fuel, and keep ignoring all the ones losing from this. In the end, it is a battle and someone will lose. If not the big duopolistic market, a part of the population will pay.

Effect of Height on Velocity | Experiment

Effect of Height on Velocity | Experiment Extended Experimental Investigation MOTION ON AN INCLINE DUONG, Phong (Nathan) Contents 1.0 Introduction: 1.1 Research Question and Aim 1.2 Theory Review 1.2.1 Gravity 1.2.2 Forces 1.2.3 Ramp physics 1.2.4 Newtons law 1.3 Hypothesis 2.0 Methods 2.1 Safety 2.2 Equipment 2.3 Procedures 3.0 Results and Analysis 3.1 Results 3.1.1 The inclined angle of the ramp 3.1.2 3.2 Analysis 3.3 Error Analysis 4.0 Discussion 5.0 Conclusion 6.0 Appendices Appendix 1: Appendix 2: Appendix 3: Appendix 4: Appendix 5: 7.0 References 1.0 Introduction: 1.1 Research Question and Aim The aim of this extended experimental investigation is to find how gravitational energy and kinetic energy apply on the toy car rolling down the steep ramp. How does the ramp height affect the velocity of the car? 1.2 Theory Review Basically, when a ramp has a small angle of incline, the force of friction between the car and the ramp has greater potential to prevent the car from moving. When an object rests on a surface like the ramp, the ramp exerts a force called normal force on the object, and this force is greater when the angle of incline is smaller. The reason for this is that the force of gravity on the car has to be split between horizontal and vertical components. If the ramp is steep, the force of gravity can more easily overcome the force of friction. Obviously gravity will cause an object on an incline to move down the slope faster than a flat slope. 1.2.1 Gravity Gravity acts vertically downwards, and the body during its free fall is accelerated due to the force of gravity. A body moving upward is undergoing negative acceleration, or deceleration, as its speed decreases and it momentarily comes to rest at the highest point of its ascent where its velocity becomes zero due to retardation obtained by the opposing force of gravity. As the gravity increases the motion of an object during its free fall and decreases the motion of an object as it travels in an upward direction. 1.2.2 Forces All moving objects have a type of energy called kinetic energy (Ek) as well as the potential energy (PE) which stored in an object. These two forces have the potential to do work and gravity gives potential energy to object whereas kinetic energy of an object depends only upon its mass and its speed. The formula for potential energy due to gravity isPE=mgh. As the object gets closer to the ground, its potential energy decreases while its kinetic energy increases. The difference in potential energy is equal to the difference in kinetic energy. 1.2.3 Ramp physics A ramp works like this inclined plane, the steeper the ramp the larger the amount of the sliding force. , when the ramp is (vertically) only the sliding component is left and equals the weight force. On the other extreme (the ramp is horizontal) the sliding force vanishes and only the component of the normal force is left. 1.3 Hypothesis It is hypothesised that as the angle of the ramp increases the speed of the car travels will also increase which results in shorter time for the car to travel down the ramp. This is predicted according to the theory of gravitational potential energy converting to kinetic energy. 2.0 Methods 2.1 Safety Must handle the retort stand with care as it could cause injuries if it drops on the lower bodies (legs, knees, footsetc.) as well as the ramp because they are quite heavy. 2.2 Equipment Retort stand For the ramp to rest on, to increase the height of theramp summit to any height Ramp- for the toy car to roll down Stop watch- to time the toy car (starts and finishes) Note book- to record the results on Measurements tape-to measure out 1 metre on the ramp Chalk- To mark the starting points and finish lines 2.3 Procedures 1. Set out equipment as shown in the diagram. 2. Ensure the height at the start line (the summit of the ramp) is 30 cm using the metre stick. 3. Ensure there are no extra weights attached to thetoy car. 4. Hold the toy car with its front touching the start line. 5. Simultaneously start the stop clock and release the toy car (becareful not to push it or exert any extra force on it). 6. Stop the clock when the front of the toy car reaches the finish line. 7. Record the time taken for the toy car to reach the finish, next to the relevant height, in a table. 8. Repeat from step 4 four times so you end up with five results for the same height then continue onto step 9. 9. Add all these results together and divide the answer by five to obtain the average time. 10. Record this average in the table. 11. By placing more books underneath the raised end of the ramp, increase the height at the summit by 10cm. Use the metre stick to check 12. Repeat from step 4 until you have obtained results for height from 30cm through to 50cm 3.0 Results and Analysis 3.1 Results The average time for different heights and distance Ramp Length (cm) Heights of the ramp (cm) Trial 1 Trial 2 Trial 3 Trial 4 Trial 5 Average time (seconds) Speed (m/s) Acceleration (m/s) Velocity(m/s) 100 30 0.79 0.87 0.81 0.85 0.84 0.832 1.2 3 2.5 40 0.68 0.84 0.66 0.67 0.68 0.706 1.42 3.97 50 0.65 0.63 0.64 0.64 0.62 0.636 1.57 4.87 95 30 0.79 0.78 0.76 0.77 0.78 0.776 1.21 3.22 2.8 40 0.67 0.66 0.72 0.65 0.65 0.67 1.41 4.18 50 0.6 0.65 0.58 0.64 0.61 0.616 1.54 5.03 90 30 0.72 0.75 0.71 0.74 0.72 0.728 1.23 3.43 3.1 40 0.71 0.67 0.72 0.73 0.68 0.702 1.28 3.99 50 0.64 0.59 0.59 0.61 0.58 0.602 1.5 5.15 3.1.1 The inclined angle of the ramp Heights of the ramp (cm) Angle of inclination (degrees) 30 16.7 40 21.8 50 26.6 3.1.2 Figure 1 3.2 Analysis The results show that when the ramp is higher (50cm) the car went fasterdown the slope at (3.1m/s). This is because gravity is pulling the car straight down andfriction is pulling the car back up the ramp, opposite to direction ofmotion. The ramp is pushing the car straight up in the oppositedirection of gravity. The ramp is also pushing it horizontally awayfrom the ramp. The net force (the sum of the weight and normal force)acting on the car is large enough to make the car to accelerate downthe ramp. If the ramp were horizontal the net force would be zerotherefore the car would not move. So the higher an object goes the more gravitational potential energyit gains. When it falls, its potential energy is converted intokinetic energy and; since energy can neither be created or destroyed,only converted then it will move at a faster speed. 3.3 Error Analysis There are many gaps of errors when conducted this experiment such as careless error, random error, human error (reaction time) and systematic errors. These are due to mistakes in reading scales or careless setting markers; they can be eliminated by repetition of readings by one or two observers. Whereas the random error could be the observer’s position when recording the data and it could spread the results further away to the true value which will increase in anomalies. The results weren’t really accurate because air resistance and friction energy wasn’t taken in to the account, with these taken in to the calculation then it would be more accurate for the speed of the car. 4.0 Discussion The experiment worked well after the preliminary experiment, the experiment indicates that if the height of the ramp is too high it would not produce very goodresults. Assume the results were accurate and the methodworked. Due to human error and reaction time, these results could notbe relied on completely, but did give a rough idea of how the experiment would have worked. If the conduction of the experiment was to be done again, it would be more accurate by producingresults using the computer system with light gate. The air resistance was neglected because if the resistance to be present, the results would be decrease but not very much throughout the experiment. The car was suffering from the friction of a ramp, something that would seriously affect the car due to it having a small mass. There were certainly some places where the experiment was lacking in some accuracy and it could have improved. The first area to highlight is the car, where most of the accuracies were caused. The car certainly had friction occurring in the wheels of the car, and with the surface it was going down. This is one of the major problem to solve because a frictionless car is impossible, to encounter this problem is to find a better car with better bearings is the wheels and more therefore less friction, causing less wasted energy through sound and heat. There was also some accuracy lacking areas which couldn’t improve either without better equipment. If the conduction of the experiment were to happen again, experimenting withdifferent surfaces of ramp would be a changed. The main problem established in the experiment wasthat the toy car kept swaying to the side, creating a longer journeyand hitting the edge majority of the time. This also could have been caused dueto uneven flooring of the ramp. If the right equipment could be accessed to calculatingthe speed using light gates and determining if it produces theoreticallyperfect results, also eliminating any other opposingforces, such as friction, polishing surfaces etc. (no air resistance) and noticing ifthis changes the results.To take the potential/kinetic energy element even further,looking into elastic potential energy and identify if it works on the sameprinciple as gravitational potential energy. 5.0 Conclusion In conclusion, the experiment demonstrated that the ramp set on (50cm) height at the distance of (90cm) had a greater velocity (speed) and acceleration than other heights. This suggests that the car had a greater velocity and lowest time was because of the steepness of the ramp that was set on. The longer of the ramp, along with gravity had a huge impact on the car movement from the top of the ramp to the bottom. The hypothesis is supported by scientific theory of motion on an incline. 6.0 Appendices Appendix 1: 1 metre (100cm) long ramp Heights of the ramp (cm) Trial 1 Trial 2 Trial 3 Trial 4 Trial 5 30cm 0.79 0.87 0.81 0.85 0.84 40cm 0.68 0.84 0.66 0.67 0.68 50cm 0.65 0.63 0.64 0.64 0.62 95 cm long ramp Heights of the ramp (cm) Trial 1 Trial 2 Trial 3 Trial 4 Trial 5 30cm 0.79 0.78 0.76 0.77 0.78 40cm 0.67 0.66 0.72 0.65 0.65 50cm 0.6 0.65 0.58 0.64 0.61 90 cm long ramp Heights of the ramp (cm) Trial 1 Trial 2 Trial 3 Trial 4 Trial 5 30cm 0.72 0.75 0.71 0.74 0.72 40cm 0.71 0.67 0.72 0.73 0.68 50cm 0.64 0.59 0.59 0.61 0.58 Appendix 2: Example 1: Given height = 30 cm and the length or the ramp = 100 cm Example 2: Given height = 40 cm and the length or the ramp = 100 cm Example 3: Given height = 50 cm and the length or the ramp = 100 cm Appendix 3: Velocity of (30 cm=0.3m) height ramp, g=9.8 m/s (constant) Velocity of (40 cm=0.4m) height ramp, g=9.8 m/s (constant) Velocity of (50 cm=0.5m) height ramp, g=9.8 m/s (constant) Appendix 4: Appendix 5: When the height at 30 (cm), velocity=2.5m/s 7.0 References Silverman, Buffy (2009).Simple Machines: Forces in Action, 4th Ed.. USA: Heinemann-Raintree Classroom. p.7.ISBN978-1-4329-2317-4 Reilly, Travis (November 24, 2011).Lesson 04:Slide Right on By Using an Inclined Plane.Teach Engineering. College of Engineering, Univ. of Colorado at Boulder. Retrieved September 8, 2012 Smith, Crosbie (1998).The Science of Energy a Cultural History of Energy Physics in Victorian Britain. The University of Chicago Press.ISBN0-226-76420-6. Feynman, Richard P. (2011).Work and potential energy.The Feynman Lectures on Physics, Vol. I. Basic Books. p.13.ISBN978-0-465-02493-3. Is Elasticity Coefficient Elastic Or Inelastic? Is Elasticity Coefficient Elastic Or Inelastic? Inelastic The price elasticity of demand for a downward sloping straight line demand curve varies as we move along the curve. If we look at the demand curve for Zesty Health Clubs, as we move down the upper segment of the demand curve, price elasticity of demand falls and total revenue rises. For example, measured over the price range of $1030 to $960, if price falls from $1030 to $960 the price elasticity of demand is 1.92 and therefore this segment of demand is elastic (Ed >1). Between these two price changes, total revenue increases from $9,936,000 to $11,088,000. This shows that a small reduction in price in the top part of the demand curve will bring about a larger proportionate increase in the quantity demanded for Zesty Health Clubs thereby increasing its revenue. Between the price range of $720 to $840, price elasticity is unitary elastic. (Ed = 1) and thereby total revenue is maximized. In the above relevant price level the elasticity coefficient is UNIT ELASTIC is exactly the same as the percentage in price everywhere along the demand curve. As we move down the lower segment of the demand curve price elasticity of demand falls below a value of 1.0 and total revenue declines. Over the price range of $480 to $600, for example, the price elasticity of demand is 0.47 respectively and therefore this segment of demand is inelastic (Ed < 1). Between these prices, total revenue declines from $10,800,000 to $9,600,000. This shows that a reduction in price in the bottom part of the demand curve will bring about a small proportionate change in quantity demanded for Zesty Health Clubs, thereby decreasing its revenue. In conclusion on a straight line demand curve the price elasticity of demand is different at every point along the curve (c) Four factors affecting the price elasticity of demand for gym memberships at Zesty Health Clubs; Availability of substitutes The most important determinant of price elasticity of demand is the availability of substitutes. Demand is more elastic for a good or service with close substitutes. If we look at Zesty Health Clubs, the alternatives or substitutes that consumers can switch to is relatively low. Of course there are few alternatives they could consider such as considering buying used gym equipment, renting exercise tapes, or even outdoor exercising such as swimming, cycling, running etc. Many consumers would prefer getting a membership simply just to avoid the trouble of physical stress in order to buy this stuff and also would prefer a better reliable health club when coming to health issues. Therefore the demand for Zesty health clubs is more inelastic in which the percentage change in quantity demanded is smaller than the percentage change in price, leading to an increase in total revenue. It is also experienced that a high price charged has made the demand to be ore elastic for Zesty health clubs. A price of $1,080 has made a condition in which the percentage change in quantity demanded is greater than the percentage change is price. This may be due to the fact that considering the current recession, peoples disposable income is relatively low as a result consumers have no other choice than switching to the close substitutes such as personal health training, outdoor physical activities etc. Short run and long run effect Most goods or services tend to be inelastic in the short run and elastic in the long run. If we take the case of Zesty health clubs we can assume that even if they uplift there price by small margin customers will still want to continue or even obtain memberships since nowadays people are more health conscious. They may be loyal to the service provided by Zesty Health clubs and may not consider shifting to the alternatives available. But in the long run consumers may be more price conscious and tend to shift to its substitutes not necessary been price as the main factor but also due to new competitors entering the market, state of the art gym products available that could be used at home at ease, or even health tip news available daily that is sent to a customers mobile phone provided by the network provider for a small charge. These different ranges of choices available make consumers demand shift from inelastic in the short run to elastic in the long run. Share of budget spent on the product Customers may devote only a certain amount rather a less proportion of income spent on membership fees. For e.g. if we consider a price change in sugar which is an convenience product consumers may pay little attention, likewise since people are more health conscious these days a change in price of membership fees may not be felt largely by consumers. However, high membership prices such as $1080 may force price conscious customers to switch to the alternate substitutes. Even circumstances apply where price is not the main factor, customer may prefer home training, or other physical activities which reduce the quantity demanded for Zesty Health Clubs. Necessity or Luxury These days consumers are more concerned about their health, therefore the demand for Zesty health clubs remain inelastic. Consumers understand that they need to be fit in order to maintain good health. As a result if Zesty health clubs peruse to increase prices the burden may not be felt heavily on consumers, as a result the elasticity coefficient remains inelastic in which the percentage change in quantity demanded is smaller than the percentage change in price. (Ed < 1). However if Zesty health clubs have really high membership fees this may force the members to switch to alternatives as I discussed above such as personal health training, outdoor physical activities etc. Consumers may not have any other choice but to switch to other alternatives to suit their needs. Assuming that the price per gym membership is $840, Zesty Health Club will be able to generate total profit of $9,323,200. If Zesty health club decides to reduce its membership price from $840 to $720, they would be able to obtain a profit of $8,622,300. If, in case they pursue to go ahead with their business decision they would experience a 7.5% loss on the total profit. Another aspect that should be considered is that fact that at the price of $840 Zesty health clubs are facing with a total cost of $2,168,000, whereas if Zesty health clubs per sue to lower their price from $840 $720, total cost increases to $2,876,100 which is an increase of approximately 33%, which is quite a huge sum. Looking at this business decision in a financial perspective it seems to that the decision is not profitable. This business decision should not be solely made on financial aspects other relating aspects should be considered as well. If we examine the table, we could identify that elasticity changes from been unit elastic to inelastic. Zesty health clubs may wish to remain been unit elastic because price elasticity is unitary elastic. (Ed = 1) and thereby total revenue is maximized. This is a situation where Percentage change in quantity demanded is equal to the percentage change in price. Therefore, it will be advantages for Zesty health clubs to remain at price $840 since elasticity is unit elastic. However if Zesty health clubs go ahead with their business decision that is reduce the price from $840 to $720 they will be to attract 2290 more customers that is an increase of 16.7%, which makes then obtain a higher market share, however even if Zesty health clubs loses 2290 customers, they still have been able to maximize profits by large charging $840. Therefore the burden is well set off by the maximizing profits. Looking at the above evaluation of Zesty health clubs business decision, I would recommend them NOT to go ahead with the business decision as it is financially non-profitable and since they would want to remain being unit elastic rather than inelastic as total revenue is maximized been unit elastic. Looking at the above graph, we could see that at price $860 Zesty health clubs gets revenue of $11,491,200 which contributes to the highest profit of $9,323,200. At this price level profits are maximized bringing the highest profit level to them, therefore according to these statistics Zesty health clubs should charge its customers at this price since it is getting the highest benefit. Income elasticity of demand is the ratio of the percentage change in the quantity demanded of a good or service to the percentage change in income that has bought about this change in quantity demanded, (Economics for today, Allan Layton et al, 2nd edition, 2005). In this context it is the change in quantity demanded in memberships for Zesty health clubs to the change in income due to economic downturn which reduced average income. Percentage change in income EY is income elasticity of demand, Q1 and Q2 represent quantities demanded before and after the income change, and Y1 and Y2 represent income before and after the income change. (Economics for today, Allan Layton et al, 2nd edition, 2005). NORMAL SERVICE From the arrived answer we can assume that Zesty health club memberships is a normal service because the income elasticity of demand is positive Ey>0, the demand and income move in the same direction. Thus, the variables change in the numerator and denominator move in the same direction. Income elasticity of demand is necessary to calculate because during a downturn when the consumers income falls, if the membership is a normal good then the no. of memberships falls. As a result income elasticity of demand helps us to identify whether the impact brings a favorable change of a negative change and also help us identify whether Zesty health clubs membership is a normal service or an inferior service. If we look at the relationship between average income of Australians and gym memberships we could see that there is a direct relationship. If assuming the current economic downturn is not experienced, the average income of Australians would have been stable and also disposable income may be high. This gives the chance for Zesty health clubs to increase memberships or even quantity demanded because since consumers are nowadays more concerned with their health and with high disposable income they may decide to obtain a membership. Now assuming that the Australians are facing with a current economic downturn, which leaves peoples disposable income low, we could see that due to a reduction in average income from $65000 to $55000 p.a. is has resulted in a reduction in memberships form 11,500 to 10, 600. As a result it is clearly identifiable that there is a direct relationship between income and memberships. SECTION B Article 1: Chile strike sends copper prices soaring SUMMARY The price of copper rose to 7500 US dollars per ton, the highest since August 2008, on trading on the London Metal Exchange. The major cause was attributed to industrial action in the form of strikes in Chiles two largest copper mines. The miners wanted higher pay and better benefits. Many of them failed to show up and prices rose further after the likelihood of a strike increased fears that market supply will become tighter. The miners wage registrations came as prices of copper rose after increases in demand from China-the worlds largest consumer of copper. Prices rose over 140% aided by mounting signs of economic recovery, after the recession which reduced the demand of copper. Chile produces one third of all copper, therefore these factors, mentioned above, played a major part in the rise of copper prices (a) Three factors that are expected to contribute to a rise in the market equilibrium price of copper Industrial Action About a third of the unionized miners failed to show up when their shifts began at 2 a.m. on Monday. As a result, Chiles Codelco Company, the largest copper mining company, chuquicata mine faced with a problem of less supply of copper, as not enough workers were at work mining for copper. According to the case study Weinberg added This increases fears that market supply will become tighter. As a result of limited supply, there will be a leftward shift in the supply curve causing copper prices to rise. Therefore a new equilibrium price is formed and Chiles Codelco Company will charge a higher price at the new equilibrium. Demand from China The case study explains there is increased demand from china, which is the worlds largest copper consumer. As a result of increased demand this makes the demand curve shift to the right, as China is willing to buy more copper (thus increased demand), which increases the price level, which forms a new equilibrium price. Signs of economic recovery The state of the economy can have a significant effect on the demand for copper. This is particularly true for industrial and to a lesser extent, commercial customers. When economic growth is strong, output from the industrial sectors generally increases. Conversely, when economic growth slows down, output from industrial sectors drops. The case study explains prices of copper were propelled by mounting signs of economic recovery. As there are signs of economic recovery the demand for copper is likely to increase as a result Chiles Codelco company demand curve is likely to shift to the right. This increase in demand will result in a new equilibrium price, which is higher than before. Considering the above demand and supply diagram (Figure 1) we could see that as a result of unionized workers failing to show up when their shifts begin, has limited the supply of copper. As a result there is a leftward movement of the supply curve from S1 to S2, and due to reduced supply of copper, copper prices is lifted causing the price to rise from P1 to P2. This reduction in supply and increase in price has forced the equilibrium price to change. Equilibrium price refers to the point where at any price for which the quantity demanded and the quantity supplied is equal. This new equilibrium point is E2 which was formerly E1. If we consider the above diagram figure 2, since there is increase in demand for copper from China, the demand curve in the demand and supply diagram shifts outward(rightward) to form a new demand curve from D1 to D2. This increase is demand has prompted Chiles Codelco Company to increase prices from Q1 to Q2 in order to balance demand and supply, which leads to increase in quantity demanded from Q1 to Q2. As a result of an increase in price and increase in quantity there is a new equilibrium point formed (E2) which was formerly E1. If we look at the above diagram Figure 3, we could see that as mounting signs of economic recovery, the demand for copper are likely to increase. As a result the Demand curve (D1) shifts rightward to form a new demand curve D2. This will cause the price to increase as well from P1 to P2, since there will be a high demand for copper, this increase in price will cause the quantity demanded to increase from Q1 to Q2. The increase in price which caused an increase in quantity demanded leads to a new Equilibrium price, this is where at any price for which the quantity demanded and the quantity supplied are equal. The new equilibrium point is E2, which was formerly E1, resulted as there was increase in demand and an increase in price. (c) Four factors which could affect world demand for copper; Price of Copper The law of demand, states that there is an inverse relationship between the price of a good or service and the quantity buyers are willing to purchase in a defined time period, ceteris paribus. If we look at this case, if copper prices increase, the demand for copper would fall and vice versa. Therefore the price determinant may affect demand for copper If we look at the above 2 diagrams above, (A) shows if there is an increase in the price of copper from P1 to P2, there will be an decrease in quantity demanded from Q1 to Q2. However since copper has closer substitutes and is sort of a necessity, the impact may not be large. If we look at (B), it shows that a reduction in price from P1 to P2 has increased quantity demanded from Q1 to Q2. However thinking even though the price if copper is reduced the consumption of copper by consumers may be the same, therefore, they will not demand more than what they consume at one point. Number of Buyers If there are many buyers of copper, copper demand may increase, which will also cause prices to increase. In this case, Codelco produces almost 1.6 million tons of copper per year to meet its demand. If in near future companies that use copper as their raw material comes up, the demand for copper will increase. Also, if the number of buyers drops the vice versa can happen which is the demand for copper may drop causing prices to subsequently dropping as well. If we look at the above two demand and supply diagrams, we could see that in (A) there is increased demand for copper from D1 to D2 this may be due to increased number of companies which use copper as their raw material, for e.g. the automobile industry which produces at large quantities may prefer to buy copper at large. This causes the price level to drop, which leads to higher quantity supplied. If we look at diagram (B), we could see that demand for copper has reduced, for e.g. if we consider the current economic recession, one of the major affected industries where supposed to be the automobile industry, as a result the production of vehicles were reduced to a certain extent, this causes the demand for copper to drop as well from D1 to D2. Prices increase and quantity supplied drops from Q1 to Q2. Expectations of Buyers What is the effect in the demand when consumers anticipate future changes in prices, incomes or other factors? If e.g. if we assume the government is going to impose a tax on copper which would raise prices to a higher level, it could lead to an increase in copper demand since they may want to get the benefit of buying it at a cheaper price before the tax was imposed. NOTE: This scenario affects demand if only the consumers are aware of FUTURE price increase in copper. If we consider the above diagram we could see that if in future consumers anticipate a price increase in copper as a result of a tax which is going to be imposed, this will tempt them to purchase copper at large quantity now, rather than later when copper prices are high. This results in increased demand which causes the demand curve to shift to the right and price increase from P1 to P2; this leads to an increased quantity demanded from Q1 to Q2. Prices of related goods If we look at the substitutes for copper, which is a good that competes with another good for consumer purchase, therefore there is a direct relationship between a price change for one good and the demand for its competitor good. Substitutes for copper include, aluminum, zinc etc. If incase the price of the substitutes shot up, the demand for copper may increase since consumers/companies may shift to purchasing copper, also there are circumstances where if prices of copper is too high they may lose it customers, causing demand for copper to drop. (A) (B) Four other factors which could affect the world market supply for copper are as follows; Weather Weather plays a huge part in market supply of copper. Bad weather that includes, heavy rain, hurricanes etc may make mining of copper not possible, as a result the supply of copper is reduced. During periods of heavy rain the supply of copper is often limited, whereas periods of great sunshine enables them to increase quantity of supply. If we look at the above diagram (A), the exact result of a bad weather is illustrated. As a result of bad weather, the supply of copper is reduced from S1 to S2, as a result the price increases from P1 to P2, which causes the quantity supplied to reduce from Q1 to Q2 If we move our attention to diagram B we could see that as a result of good weather the quantity of copper extracted is more which means that price drops from P1 to P2 and supply increases from S1 to S2 plus the quantity supplied also increases from Q1 to Q2. Technology Many state of the art technology has made mining of copper much more easier, comparing to paying wages for 5600 workers, purchasing machinery to get the work done is not only cheap but also the quantity of copper extracted could be more, which means there is increased supply If we look at the above diagram we could see that as a result of improved technology the extracted of copper could be increased, as a result the price of copper will be dropped from P1 to P2 thus increasing supply from S1 to S2 causing quantity supplied increase from Q1 to Q2 Price Exceptions If Codelco anticipates a substantial rise in future copper prices, this would cause them to decrease their current supply of copper, because they may want to gain the most of this benefit, where as if they anticipate future copper price to decrease they would want to produce more copper and sell it at a much higher price than the anticipated low price. If we look at the above diagram, if we consider (A) we could see that if Codelco anticipates the price of copper to increase in near future, supply is restricted or reduced from S1 to S2 causing the price level to increase from P1 to P2, as a result the quantity supplied drops from Q1 to Q2. If we look at diagram (B) if Codelco anticipates a price reduction in near future, they make want to accelerate the production copper, causing price to increase from P1 to P2 which makes the supply curve shift rightward from S1 to S2, this makes quantity supplied increase from Q1 to Q2 a swell. Economies of scale/Input Costs This is a situation in which average cost curve declines as the firm increases output. If so happens the demand curve will shift rightwards. There are circumstances where changes of diseconomies of scale could causing the completely opposite effect .According to the case Codelco company produces around 1.6 million tons of copper per year. Another factor that we could consider is the input prices, if input prices are low Codelco can experience economies of scale. The case study shows shoes evidence that workers at two mines, Chuicata and Mina Sur, demanded a 7.5% pay hike. This shows that the cost of production of copper is high. If incase cheap labour is found and cheap machinery, cost of input is less which makes Codelco supply more copper at cheap prices. Looking at the above two demand and supply diagram, considering (A), we could see that, if codelco experiences economies of scale which means their average cost declines as output increases, they will be able to produce more copper as lesser costs, also aspect which could add to lower costs is due to the fact of less input costs as a result this benefit can be passed onto the consumers as well through low prices which is from P1 to P2. Supply is increased from S1 to S2, causing quantity supplied to increase from Q1 to Q2. Moving our attention to diagram (B) we could see that if Codelco has high input costs, this may make extraction of copper expensive, since they cant bare all the entire costs, they may wish to pass on some of it to the consumers through high costs, as a result supply is reduced from S1 to S2, causing quantity supplied to reduce from Q1 to Q2