Saturday, August 22, 2020
How the Hashatg trend changes TV Free Essays
The espresso machine In the workplace used to be where individuals accumulated to discuss the TV shows they had viewed the prior night. These days sitting in front of the TV Isnââ¬â¢t Just about making the most of your preferred program on the couch. 95% of the open social discussion around Film and Television occurs on Twitter and other informal communities. We will compose a custom paper test on How the Hashatg pattern changes TV or on the other hand any comparable theme just for you Request Now Individuals trade with different fans and watchers, share their assessments and draw in with one another by means of Twitter, Mainstream, Faceable and co. Studies have indicated that particularly the more youthful crowd stares at the TV with two eyes on the screen and a third on the tidied or PC. This ââ¬Å"second-screen-trendâ⬠has begun another development of promoting, focusing on explicitly this more youthful crowds and open up a totally different market of publicizing on Television. Numerous brands have just associated their Twitter accounts with TV publicizing, utilizing washrags. This leads us to the inquiry: How does the washrag-pattern change showcasing and publicizing In the TV and Media scene? In this exposition I will examine the utilization of washrags as a showcasing device In the film and broadcast business and how this new pattern may Impact on my future profession objectives as an essayist In the media business. One may discover himself asking, ââ¬Å"What an earth is a washrag? ââ¬Å". The washrag image (#) is mostly found on interpersonal organizations like Twitter, Mainstream and Pinsetters and as of late Faceable joined the hover of washrag clients. A washrag image is utilized to join explicit tweets, photographs, posts and so on. About specific themes. Itââ¬â¢s a method of sorting out or gathering those posts. Washrags can help clients on Twitter and Mainstream to discover themes that are like their own posts or interests. Nonetheless, the Washrag is additionally an efficient yet viable showcasing instrument. The advertisers of enormous edges and organizations can follow the washrag routine of informal community clients fix make patterns to help their own organizations. The washrag makes it feasible for them to investigate well known patterns on Twitter and what number of messages were sent with respect to a particular washrag riches a specific time allotment. It can likewise be utilized to help your perceivability on interpersonal organizations. In the event that enough Individuals advance a washrag It will ââ¬Å"trendâ⬠and pull in increasingly informal organization clients. Since the time 2010 the most famous washrags at some random second have been shown on the first page of Twitter as ââ¬Å"Trending Topicsâ⬠. Basically, washrags are an extraordinary method to sort out Tweets, posts and photographs yet it is likewise advantageous method of publicizing an organization, appear or new items. Moreover, broadcasting companies have rushed to see the intensity of the washrag by showing it in the base corner of the screen during a show or placing it toward the finish of a business. These kinds of washrags are called ââ¬Å"branded washragsâ⬠rather than ââ¬Å"organic washragsâ⬠which are begun by fans or non â⬠proficient twitter clients. Marked washrags can, for example, fill in as an instrument of making publicity around an up and coming scene of a TV show, occasion or film and work up a discussion between fans. At that point, the washrag Is generally the name of the program or the subject that Is talked about. It appears as though the washrag had been around everlastingly, anyway Twitter joined the family as of late in 2013. Yet, despite the fact that the Washrag is a genuinely new pattern it has as of now totally changed the manner in which TV shows and Films are promoted. Just several years prior, another show or another film would be for the most part advanced by the star of the film, by going to honorary pathway occasions or showing up on a well known syndicated program to get the message out about their freshest film. Expertly made banners and trailers could be seen on TV or your neighborhood transport stop. While those strategies are as yet utilized, the banners or the trailers would now highlight a little washrag image in the corner. Obviously, an acclaimed entertainer can in any case advance another film, however as a rule, the promoting these days occurs on Twitter and informal communities, where fans are getting the message out of another film or TV appear by utilizing the washrag. This has opened up an approach to associate Television and internet based life and by and large, the method of promoting has gotten significantly more intuitive, which means the crowd assumes a key job all the while. This is obviously noticeable in intelligent shows, for example, syndicated programs, live game occasions or large function occasions like the Golden globes or the Academy Awards. Here, the washrag isn't just a functioning method of connecting with the watchers yet additionally a likelihood to pose inquiries and connect with the creators or superstars. A few shows, for example, ââ¬Å"Project Runwayââ¬â¢, even give every candidate their own washrag for casting a ballot purposes. In like manner, the BBC family dramatization ââ¬Å"Pretty Little Liarsâ⬠gives a genuine case of the intelligent utilization of washrags among fans and the cast and agitators of the show. This may be incompletely because of the youthful age of the intended interest group, who are in their adolescents and generally speak with their companions by means of Faceable and Twitter. The arrangement spins around the riddle of a girlââ¬â¢s vanishing and when asked, the arrangement maker/show sprinter l. Marlene King alludes to future story advancements dependent on which the crowd can endeavor to illuminate the riddle. These are Just some of numerous shows that are effectively utilizing the washrag for showcasing purposes. For experts working in showcasing this implies, so as to manufactured a brand they will eve to make a battle explicit washrag so as to draw in individuals on twitter to discuss their item, bring issues to light and connect with the intended interest group, just as following current washrag inclines so as to make their substance applicable to slanting themes. While the superstar or film despite everything assumes a significant job in the advancement procedure, the genuine advertising occurs through the fans and interpersonal organization clients. The physical commercial, for example, banners needs to large parts been supplanted with the considerably more prudent and at any rate as proficient promotion through informal organizations, utilizing washrags. This implies the intended interest group who is getting the message out of another show, film or item everywhere throughout the World Wide Web, turned into a key job in current promoting. In this manner, the crowd turns out to be increasingly compelling and even figures out how to connect with large creation organizations and media gatherings. A genuine model for how incredible the audienceââ¬â¢s sway truly is, is the NBC show ââ¬Å"Communityââ¬â¢ which has been confronting a steady danger of retraction. While trying to safe the show, the show sprinters embedded the washrag â⬠#Accommodativeness â⬠toward the finish of the period three finale and began a crusade to safe the show. The fans got the washrag rapidly and as NBC saw the slanting washrag and how much consideration the show had been given, persuasive the clients of informal organizations are in the event that it comes to advertising, yet in addition that washrags can be an economical or even free showcasing device. This leads me to my next point. What amount does the washrag pattern and the second â⬠screen â⬠pattern impacts me as an autonomous movie producer and essayist and how might I utilize the pattern furthering my potential benefit? As an autonomous movie producer it is difficult to run an expertly sorted out crusade so as to advance another task, since there is normally no spending plan for publicizing situations on TV, banners or even expertly structured battles. For me, online life speaks to a free or moderate choice to advance my undertakings. The washrag is a no spending film-advertising device that can help my appearance on the Internet. The more imaginative the washrag, the more fruitful oneself started crusade can be. Numerous ââ¬Å"No Namesâ⬠on Twitter have a bigger number of supporters than certain famous people. This demonstrates web-based social networking stages, for example, Twitter are an extraordinary method to showcase your image, film or item. Besides, from a writerââ¬â¢s perspective, who might in a perfect world want to work in TV, it is consistently valuable to watch out for advertising patterns while composing a scene. Thusly, the author would already be able to consider ââ¬Å"washables punsâ⬠in the show or wonderfulness that could be utilized for washrag promoting, for example, #Accommodativeness in Community, or even explicitly make washrags for fans to associate in the Twitter people group, much like in the case of Pretty Little Liars. In any case, with or without beneficial things, the washrag pattern likewise has its drawback and utilizing a washrag crusade for advancement purposes can possibly be a hazardous business. While it is genuinely sheltered to state that a fruitful washrag crusade can possibly bring issues to light and increment online discussions, it can positively be difficult to foresee the result. When the washrag is out there, the advertisers have no power over it and the advancement that the battle may take is totally in the hands of the online networking clients. A few brands needed to get familiar with this exercise the most difficult way possible. When McDonaldââ¬â¢s presented their washrag crusade ââ¬Å"#Mysteriesâ⬠in 2008, the battle immediately built up an existence of itââ¬â¢s own and the structured washrag was utilized by Twitter clients to recount to their negative tales about the inexpensive food chain. My undisputed top choice case of ââ¬Å"how washrags can go wrongâ⬠is the ââ¬Å"#Undersecretariesâ⬠washrag battle which was made to grieve the demise of Margaret Thatcher. Rather than perusing the washrag ââ¬Å"Undersecretariesâ⬠clients read it as ââ¬Å"#Undersecretariesâ⬠and as result incidentally grieved for an inappropriate woman. Notices, for example, â⬠R. L. P Cheer. At any rate now weââ¬â¢ll get some answers concerning life after affection. #Undersecretaries â⬠delighted the online network for a considerable length of time, yet had almost no to do with the real occasions. All in all
Friday, August 21, 2020
TABLE 1 References to Time Management Concept in EBSCO database by Essay
TABLE 1 References to Time Management Concept in EBSCO database by Decade - Essay Example According to the given arrangements, the calculated fundamental change inside the patterns of the yields and then again, these orders are profoundly sorted out into social models which work on the whole with the anticipated market and search models. In his investigation, Neville et al, (2005) outlined that IT ideas were in fact worked from data acquired from plans of action. The important quality administration of a framework is relatively coordinated with the best innovative understandings of the information stockrooms and the data entry (Rainer and Thomas, 2004). An inexorably secure information is defensively authorized through the necessary security includes however the assessment of a hunt gives a significant stage. Preferably, the databases which contain these things are over and again calculated and dispensed extraordinarily structured catchphrases called Keys. The innovation itself works by characterizing inputs, for example, cost of the items, total expenses for various items, credit worth and the most recent changes in costs. As indicated by Neville et al, (2005) the database search viewpoint additionally furnish the customers with satisfactory data in regards to client practices, reactions and the fundamental develop models of future client patterns (Neville, 20052000). The information mining frameworks are successful correspondence procedures which construct a mass messaging part in the framework. The consideration of limits and general decrease of costs, these updates are consequently transferred to clientsââ¬â¢ inboxes (Carson, 1990) The key advantageous patterns of time the board are dictated by the client cooperations. These fundamentally include the social execution of the key time the executives stages. The particular of client based data fulfillment is picked up intermittently by connecting with the business patterns with the individuals (Boulding et al., 2005). The center goal according to Carson, (1990) is to upgrade the perspectives on clients in
Wednesday, June 17, 2020
A Special Announcement â⬠Podcast Episode 199
à The most recent podcast, Episode 199, is brief but notable. Andrew Pudewa and . To find out why and when the two hundredth episode will be broadcast, listen to the podcast. We will say this: The reason for the break is not because anyone is talked out or feeling finished. And the podcast isnââ¬â¢t going away either. Until that special two hundredth episode, we will be rebroadcasting some of the most popular podcasts since the Arts of Language Podcast debuted. We are excited to share these gems with our listeners and hope youââ¬â¢ll join us. In the meantime, if you have any suggestions for future podcasts, such as guest appearances, teaching tips, or other interesting topics, let us know by emailing us at podcast@IEW.com. We look forward to hearing from you.
Monday, May 18, 2020
W.E.B Dubois Who Was He - Free Essay Example
Sample details Pages: 2 Words: 534 Downloads: 9 Date added: 2019/08/02 Category People Essay Level High school Tags: W.E.B Dubois Essay Did you like this example? W.E.B Dubois. Who was he? A writer. A voice for his kind. A student of many schools. He was a great man who fought for his kind and helped us know that all people, no matter where they are or where they are from or been, no matter what their religion is, no matter what human race they are, everyone is equal. Early life W.E.B Dubois was born in Great Barrington, Massachusetts, on February 23, 1868. Died August 27, 1963, Accra, Ghana. There is not much info on what happened between here and his college years, but while growing up in a mostly was in aà European American town, W.E.B. Du Bois identified himself as mulatto, but freely attended school with whites and was enthusiastically supported in his academic studies by his white teachers. In 1885, he moved to Nashville, Tennessee, to attend Fisk University. In 1895, he became the first African American to earn a Ph.D. from Harvard University. He ended up going to four universities (Rudwick, Biography). Donââ¬â¢t waste time! Our writers will create an original "W.E.B Dubois: Who Was He?" essay for you Create order Influences of Web Dubois He had a few Influences that helped him get where he was going in life. Those people were: Karl Marx, Georg Wilhelm Friedrich Hegel, William James, Alexander Crummell, and George Santayana (none). Web Dubois profession According to Biography, Du Bois wrote extensively and was the best known spokesperson for African-American rights during the first half of the 20th century. He co-founded the National Association for the Advancement of Colored People (N.A.A.C.P.) in 1909. He was also a Civil Rights Activist, Educator, and Journalist. The Harlem Renaissance According to Encyclopedia of Religion and War, In 1905, Du Bois helped to organize the Niagara Movement, an assembly of black leaders opposed to Washingtons leadership and committed to fighting for full civil equality for African-Americans. Inevitably, Du Bois was drawn into debates swirling around the Harlem Renaissance. Interesting facts à W.E.B. Du Bois was the first African American to receive a Ph.D. from Harvard University (1895). He wrote 75 books total in his lifetime. The first case study of an African-American community was conducted by W.E.B. Du Bois, published as The Philadelphia Negro: A Social Study (1899). W. E. B. DuBois Died in Ghana; Negro Leader and Author, Age 95 of death. W.E.B. Du Bois died one day before Martin Luther King Jr. delivered his I Have a Dream speech at the March on Washington (August 28, 1963) (Hall, Biography, and The New York Times). W.E.B Dubois, born in Great Barrington, Massachusetts, on February 23, 1868. W.E.B. Du Bois was mulatto, but freely attended school with whites. In 1895, he was the first African American to earn a Ph.D. from Harvard University. He was the spokesperson for African-American rights during the first half of the 20th century. In 1905, he helped to organize the Niagara Movement (explained above in The Harlem Renaissance section). The first case the study of African-American community was by W.E.B. Du Bois, published as The Philadelphia Negro. In one of his books, The Souls of Black Folk, Du Bois set out to paint a vivid portrait of black people in the decades after emancipation in 1862 how they lived and who they really were.
Wednesday, May 6, 2020
First British Settlers in Australia Essay - 759 Words
When did the British settlers arrive at Australia? The first fleet arrived at Botany Bay on the 18th of January 1788 which was later declared as an official prison. The Captain of the fleet, Captain Phillips however found out that the harbour was in lack of fresh water therefore was unsuitable for conviction. The fleet then redirected to Port Jackson which then marked the official first European landing on Sydney Harbour. While setting up the official penal colony 751 convicts along with 252 marines were released and eventually given land to start a new colony. Later in 1790 and 1791 two more conflict fleets arrived along with the first free settlers in 1793. From 1788 the penal colony was officially set up with convicts, families andâ⬠¦show more contentâ⬠¦They were taking their natural resources therefore a group of Aborigines launched a series of attack on the settlers. The battle between the settlers and Aborigines increased when Macquarie became Governor and believed that the Aborigines should be civilised. This is another way of saying to convert Aboriginal ways into European ways. Macquarie tried very hard to teach new techniques or educating them however these failures made him very mad and desperate. In his perspective the rightful last resort was to put the Aboriginal land and people under his control by saying anyone is permitted to shoot Aborigines if they retaliated or resisted. What Infectious diseases were introduced to the Aborigines? The infectious diseases that were introduced by the British settlers were an immediate consequence which caused the Aboriginal population to decrease dramatically. The Aborigines had no sort of contact with the diseases brought therefore their bodies couldnââ¬â¢t development an immune or adapt to them. The most common epidemic diseases spread drastically and killed many people. These diseases included the chickenpox, smallpox and measles. The Aborigines were even reported by the British saying they were exterminated in Tasmania showing how devastating the diseases impacted them. Were Aborigines taken away from their families? Aborigines from the ageââ¬â¢s two to four were takenShow MoreRelatedThe Myall Creek Massacre During Colonial Australia1388 Words à |à 6 PagesThe Myall Creek Massacre in Colonial Australia was caused by arising conflict from British imperialism as the greed for land and goods caused the English to disregard the rights of the Australian natives. In pursuit of resources and Newmarketââ¬â¢s, Britain colonised the majority of the world and the ramifications of this have continued into today. Firstly, upon colonising the land, settlers were continuing to ship convicts to Australia, due to America refusing the convicts after the War of IndependenceRead More1788-1850 Aboriginal Resistance1629 Words à |à 7 Pagesyears 1788-1850 Australia was re-discovered, colonized and faced many fights between the natives of Australia and the British. Disease, communication barriers, land rights, food supply, cultural clashes and wars between the British and the natives played a major role in t he resistance between the naives and the British for the first 60 years of colonization(1). The English sent over 162,000 convicts to Australia in 806 ships. The first eleven of these ships are today known as the First Fleet and containedRead MoreThe Arrival Of Arthur Phillip1433 Words à |à 6 Pagesof Arthur Phillipââ¬â¢s first fleet in 1778 and the following arrivals of convicts and free settlers during the nineteenth century has been known as ââ¬Ëthe settlement of Australiaââ¬â¢ a term believed to be a racial and cultural bias. Due to our history being dominated by the white man, and the influence of the concept of ââ¬Ëterra nulliusââ¬â¢, we are brought up to believe, from a European point of view, that the settlement was peaceful, and lawfully correct. However, being recorded as the first nation genocide, theRead MoreThe Killings And Destruction Of Cultures Throughout The Us, Australia, And German South Africa1750 Words à |à 7 Pagesthe United States, Austral ia, British India and German Southwest Africa, allows for a better comprehension of genocide as defined by the UN Convention. The four cases raise question as to why we can consider the cases to be genocide, and what similarities and differences each case has. Considering the UN definition , I acknowledge all but the British Indian case to be genocide. There are multiple similarities between the mass killings and destruction of cultures in the US, Australia, and German SouthwestRead MoreThe History of Australia Essay796 Words à |à 4 PagesTo some degree the unfamiliar country of Australia was a ââ¬ËFatal Shoreââ¬â¢, a land of suffering and hardship for the British, however after its early years, the colony began to flourish and Australia was established as being a land of opportunity. Events in Britain, such as The Industrial Revolution, encouraged people to consider migrating to Australia for a better life as many of the working class were profoundly affected. Furthermore, the increase in crime due to unemployment lead to overcrowded prisonsRead MoreSpirituality Across Britain Differ From Aboriginal Spirituality1536 Words à |à 7 Pagescommonly the same as every other member of the religion. Aborigines were and continue to be very deeply connected to their spirituality. History of Contact Australia Wide British Settlement After Captain James Cook ââ¬Ëdiscoveredââ¬â¢ Australia in 1770 he claimed the land for Britain assuming Australia to be of ââ¬ËTerra Nulliusââ¬â¢. This principle of British law meant the land could be claimed as it belonged to no one. This was not true as the Indigenous Australians had been living in the country for over 50,000Read MoreThe Culture Of Aboriginal Australians1561 Words à |à 7 PagesDemolishing the Culture of Aboriginal Australians In Australia before the late eighteenth century, the native Aboriginal peopleââ¬â¢s unique culture flourished, fostering a great sense of pride within its inhabitants. The Aborigines were able to familiarize themselves with their geographical surroundings, which in turn helped them to obtain food, while simultaneously upholding their many traditional spiritual and ancestral beliefs. Many native songs, dances, and collections of art were referenced byRead Moreââ¬Å"The sun never sets on the British empireâ⬠a true statement of the sheer power of the British1000 Words à |à 4 Pagesââ¬Å"The sun never sets on the British empireâ⬠a true statement of the sheer power of the British empire from mid 1600s up to the second Great War, and considered one of the greatest empires ever built and definitely one of the largest. Britain is a small island located North, North West of main land Europe, shared with Ireland and Scotland to the West, being a small island country, mater ials were scarce to come by, but the British were able to get around this with trade and colonization. One key aspectRead MoreLee Scott s That Deadman Dance Begins With Bobby Wabalanginy s Poetic Imagination1107 Words à |à 5 Pagesimagination illustrating the Australian ocean shore (Scott, 1-5). Throughout the whole novel, the landscapes of Australia are described by an Aboriginal entertainer, Bobby, who tells his story through the eyes of both the natives and British settlers, depicting two very different portraits of the land; a bountiful home and a deadly unknown place. Similarly, Kate Greenvilleââ¬â¢s Secret River describes Australia as a harsh environment in the point-of-view of her protagonist; a reluctant colonist called William ThornhillRead MoreThe Dapl Operator Announced On Election Day That It Had1248 Words à |à 5 Pagesshare (e-nable.eu). Similarly, First Nation of Canada has a devastating history. First Nationââ¬â¢s people are the natives of Canada. They fought for their land when the French came over to settle. Unlike the Native Americans who fought against the British, the First Nations joined with the British to fight the French (firstpeoplesofcanada.com). In the late 1850ââ¬â¢s, the Gradual Civilization Act was passed by Legislature of Upper Canada. This permanently removed all First Nation out of the general public
A Christmas Carol Essay Example For Students
A Christmas Carol Essay This essay will analyse and report on how the character Scrooge changes throughout the Victorian novel A Christmas Carol. Each Stave will be analysed, thus showing how he changes throughout the novella. At the start of the story, the impression created of Scrooge is very negative. He is portrayed as a cold and twisted character, who puts the wrong principals, such as money, before those that are more important, such as family and friends. Early in the book, Ebenezer represents the direct opposite of the Christmas spirit. He is shown to be extremely miserly, with very little regard or respect for the poor. He is a misanthrope. By the end, however, he is very different. Instead of being tight fisted with his money, he instead appears to have very little concern for it at all, seemingly thrusting it at anyone who will accept it. Most crucially however he is able to have respect for others, instead of just himself. Charles Dickens wanted readers of his book to think about the conditions people of the lower classes lived in, and how despite this they are happy and content. He wanted to give them awareness that money is irrelevant if happiness isnt created with it. Stave one is mostly about getting the reader to become aware of Scrooges attitude and history. It portrays Scrooge as a cold and unpleasant character. This point is well made when Dickens writes The cold within him froze his old features, made his eyes red, his thin lips blue, stiffened his gait, and spoke out shrewdly in his grating voice. The first part of this quotation provides an indication of how cold and confronting his appearance is, and how this is reflected in his personality. The language used is simple, which helps to emphasise the extent of his coldness, and the phrasing used, such as the coldness stiffening his gait shows his age. Gait is a reference to how he moves, so in saying that it is stiff, Charles Dickens is stating that his movements are becoming slow and awkward with his age. This could possibly symbolise that it has become awkward for him to socialise and connect with other human beings, as it has become awkward for him to move. In the first Stave, Scrooges attitude to giving is extremely bad. This is well shown by the two gentlemen, who are refused by Scrooge when they offer him the chance to donate to the poor. Scrooge tells them that I dont make merry myself at Christmas, and I cant afford to make idle people merry. With this quotation Dickens showed that Scrooge is unable to see from other peoples points of views. Despite the Gentlemens emotional plea, he is unable to realise how badly people are suffering, or he is simply too cold to care. When he calls the poor people idle, he is implying that they are poor because they are lazy and do not work. This is incorrect, as in Victorian times if you were from a poor background it was nearly impossible to build up any sort of wealth. The fact that Scrooge refuses to give to poor when given the chance also shows that he was not a dedicated Christian. In Victorian times even poor Christians would try to give to the poor, especially at Christmas time. Scrooge, who would have been in the upper middle class, refused to give to charity, and this shows how miserly and uncharitable he really was. In Stave one, Scrooges treatment of Bob Cratchit is very cruel and negative, which is reflected in his personality. This is highlighted when Scrooge answers his clerks question about having Christmas day off with, If I was to stop half a Crown for it, youd think yourself ill used, Ill be bound? And yet, you dont think me ill used when I pay a days wages for no work. Drama Coursework Assignment EssayThe ghost wore a sabbard and sheath with no sword, emphasising the peace between people during Christmas as people feel full of Christmas cheer and happiness. Also everyone is included in Christmas as there is no discrimination to who can participate and so a sword to drive people away is not needed. The ghost bore a glowing torch and held it up, high up, to shed its light on Scrooge, which means the giant tries to enlighten Scrooge. The torch is a magical one, that sprinkles Christmas Spirit on the people that allow it to enter. It makes people cheerful and thankful. The torch and its sprinkle represent compassion, kidness, hope, happiness and joy. The giant is a protector as under its robe it hides two small children that are Ignorance and Want. The ghost, as it represents Christmas, only lives for the Christmas season and so dissapears after Christmas day. The last ghost to visit Scrooge is the ghost of Christmas yet to come. This ghost is almost the opposite of the last two ghosts; they symbolise in some way hope, this ghost shows a grim future ahead. All of its body is hidden under a black garment, to represent the mystery of the future. It would have been difficult to separate it from the darkness by which it was surrounded, also emphesises the darkness of the ghost, and the uncertainty of where you will end up in the future. All that is visble of the ghost is its hand that points onward, symbolising how life goes on into the unknown. The ghost is silent, grave and slow, symbolic of death which is the only certainty in peoples lifes.
Tuesday, April 21, 2020
Maximizing Profits in Market Structures free essay sample
Profits in Market Structures Market Structures are described as a particular relationship between the buyers and the sellers of goods and services in a specific market (Mathias, 2000). Three different types of market structures are competitive markets, monopolies, and oligopolies. Each of these market structures has a particular set of characteristics that identify it and separate it from the others. These categories are also separated by the way they each use pricing and output to calculate and maximize their profits. We will write a custom essay sample on Maximizing Profits in Market Structures or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Another difference between these three categories is the presence of barriers, which may be present to encourage current companies to exit, as well as new comers to enter that market. Also, each of these three structures has a different effect on the economy, some having more control on the market than others. With all these differences the specific market structures all have one thing in common, they all rely on supply and demand to determine how to maximize their profits. Competitive markets have two primary characteristics that separate it from other market structures. The first characteristic is that, within a competitive market, there are a large number of buyers and sellers. Second is that the product being sold is the same among all companies, making the products completely interchangeable. These factors make the market competitive by insuring that no single buyer or seller can control the market price. Therefore, in order for companies within a competitive market to maximize profits, they must maintain an equilibrium between the price charged for a product and quantity that they produce. This means that a company must take the price being charged for a product and subtract the cost of making the product to figure out where they are equal. As the price of a product in a competitive market is controlled by the market as a whole, the seller must adjust its output to maintain maximum profits. This is important because the companyââ¬â¢s revenue is in direct correlation with the price, so if the price goes up $1. 00 per unit then the revenue also will go up the same amount. For example, if a product has a fixed cost of $1. 0, and the variable cost of $3. 00 and the product sells for $5. 00 then the company has to adjust its output to balance that amount, so that it does not cost over $5. 00 for each product sold. One factor that can affect the output of a product, is the lack of barriers that are present for anyone wanting to begin or exit a company. If the amount of sellers change but the demand does not then current companies will need to decrease the output or risk the price dropping below the profitable levels. The competitive markets can have a positive impact on the economy because the competition helps control the cost of products. If there was little or no competition, then companies would have the ability to raise prices as high as they wanted to, especially in the case of items that are necessities (Mankiw, 2007). The characteristics of a monopoly are first, that there is only one company selling a product and there are no substitutions. Second, there is no competition, the product is exclusive to one company. Third, in a monopoly the company completely controls the pricing of its products and can charge as much as they believe a customer will pay (Mathias, 2000). In contrast to a competitive market, a monopoly can chose what to charge for its product. However, the price must be set according to what consumers are willing to pay, while still maintaining a profitable level of production. It is important to control the output of product so, the price must be set to where the company will still be able to sell a large amount of product while maximizing its profits . There are substantial barriers to entering a market that has a monopoly. One barrier is the inability to compete in the market that is controlled by one company. A small business starting out in completion with a large monopoly would incur substantial costs to begin production and they would have to increase their prices to make a profit. This could also be a problem if the monopoly holds the rights to the raw materials that it takes to make a product. Therefore, entering a market that is controlled by a monopoly is very difficult. However, it is possible for a market to be controlled by a small number of companies, similar to the way that a monopoly controls a market. The economic impact that monopolies have can be outrageous prices or limited availability of goods and services to many people (Mankiw, 2007). An Oligopoly is when a limited number of companies control a specific market, with little competition (Mathias, 2000). Some characteristics of an oligopoly are that the companies all make the same or similar items, so they are substitutable, and there are only a few companies that produce this good. As there are a limited amount of producers these oligopolies are also able to set the price of their goods, using things like advertisements and warranties for competition between businesses. Because there are only a few companies making a product the members of an oligopoly have to control the production of their goods in order to control the pricing. If one of the companies decides to increase production then there will be an abundance of supply without the necessary increase in demand. This means that the cost of the product will have to go down to try to increase demand. These companies have to maintain a steady level of output in order to maintain price, giving them the best profits. The companies that are in this small circle of businesses, try very hard to erect barriers in front of anyone who may think about entering their market. By stopping the emergence of new companies the oligopolies can continue to control the market. The affect that oligopolies have on the economy is the ability to control pricing and supply of products, similar to the impact that a monopoly has (Mankiw, 2007). In conclusion, each market structure plays a role in the economy with the focus of these companies centering on profits. They monopoly can be beneficial if the lowest price for consumers comes from having only on producer but in many cases a monopoly means high prices and limited supply. An oligopoly does have less control over pricing only because they are sharing the demand and antitrust laws prevent them from gathering together as one monopoly, to maximize profit. The competitive market is the most economically friendly market because it has to compete to get customers and this helps keep prices affordable and does not limit the availability of goods to the public.
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