Electricity Demand and Supply Pakistan Essay Example for Free

Electricity Demand and Supply Pakistan Essay Electricity load-shedding in Pakistan is one of the biggest domestic problems faced by the country. Along with the problems that the power shortage brings for the society as a whole and for the inhabitants of the society the power failures seriously curbs the economic potential of the economy. Considering most of the medium and large scale industries of Pakistan depend on machinery that is run by electricity they are heavily dependent on the electricity supply, with the electricity supply cut their production capacity decreases dramatically as well. Since most of Pakistani manufacturing industries lack the self generation ability hence this power outage is even more harmful to their business. So eventually what ends up happening is that along with creating general distress among the public this power shortage reduces the production capacity of the firms and hence reduces the aggregate supply. Aggregate supply can be defined as the total supply of goods and services that firms in a national economy plan on selling during a specific time period. It is the total amount of goods and services that firms are willing to sell at a given price level in an economy. It is the total amount of goods and services that firms are willing to sell at a given price level in an economy. In the long run, the aggregate-supply curve is assumed to be vertical In the short run, the aggregate-supply curve is assumed to be upward sloping SRAS (Short run aggregate demand) shows total planned output when prices in the economy can change but the prices and productivity of all factor inputs e.g. wage rates and the state of technology are assumed to be held constant. LRAS (Long run aggregate supply) shows total planned output when both prices and average wage rates can change – it is a measure of a country’s potential output and the concept is linked strongly to that of the production poss ibility frontier The SRAS and LRAS can be graphically represented as follows: SRAS LRAS Now what happens is that firms will have to cut down their production process in order to effectively meet the costs incurred or it will come to a position of losses. The cutting down of the production process means  decreasing the supply of the firm. As a firm produces lesser than it did before, fewer workers will be needed because the excess labor has been made redundant since fewer employees are now needed to produce lesser output. Moreover, the firm can no longer afford to employ as many workers as it did before. Hence this will eventually give rise to over the course of time as many workers have will have to be laid off in industries due to low activity. This will invariably decrease the total consumption of the population because as the unemployment increases the purchasing power of the people also falls. They are now earning fewer wages and the income effect will lead to a drastic decrease in the consumption. Consumption is one of the major contributors in the aggregate demand function. We define aggregate demand as the total demand for all goods and services produced in the economy at a given time and price level. It is the amount of goods and services in the economy that will be produced at all possible price levels. The aggregate demand is usually described as a linear sum of four separable demand sources.[3] Where: C = Consumption I = Investment G = Government Spending (X-M) = Net Exports – Net Imports The graph for AD is as follows: It is often cited that the aggregate demand curve is downward sloping because at lower price levels a greater quantity is demanded. While this is correct at the microeconomic, single good level, at the aggregate level this is incorrect. The aggregate demand curve is in fact downward sloping as a result of the Pigou’s wealth effect. Pigou effect is an economics term that refers to the stimulation of output and employment caused by increasing consumption due to a rise in real balances of wealth, particularly during deflation. Keynes said that a drop in aggregate demand could lower employment and the price level (deflationary depression). Hence it can be  said that any decrease in the consumption would bring about a fall in the aggregate demand. Consumer demand or consumption, that is also known as personal consumption expenditure, is the largest part of aggregate demand or effective demand at the macroeconomic level. The interaction of the aggregate demand and aggregate supply gives us the market equilibrium. Now as has been previously pointed out, frequent power cuts will mean a cutting down of the production process which invariably brings about a decrease in the aggregate supply. What happens is that as aggregate supply decreases with the aggregate demand being constant (as obviously people would still be demanding the same quantity of products) inflation will increase as shown below: Now here we can see with AS moving to a new point as it decreases it is actually increasing the price level which results in inflation and as a result unemployment increases as well, because when there is inflation in the economy there is a rise in prices hence there is a fall in the demand of goods and services and the producers reduce their production level and as a result they end up decreasing the number of workers which means unemployment increases. Unemployment on the macroeconomic level is a sign that the economy is operating below its full production capacity, this is a sign of inefficiency. Here we can see that inflation is playing a key role in determining the employment level. Hence we’ll have a look at how load shedding gives rise to inflation. Inflation is conventionally defined as a general increase in the level of prices in goods and services. One of the effects of inflation is a decrease in the value of money. During the course of inflation income and prices do not increase at the same rate; the purchasing power of the nation as a whole drops. One of the reasons of inflation is surplus amount of money which causes the prices to rise at an extremely high rate. Other than that, another reason for inflation is the rise in the costs of production which in turn increases the prices of the products. Moreover inflation occurs when aggregate supply exceeds aggregate demand hence increasing the price level. In the context of load shedding though, we see that it has been a triggering stimulus for initiating inflation. The CPI inflation averaged 23.5 percent in July-February 2008-09 in Pakistan as against 8.9 percent in the comparable period of last year. The deficiency of energy sources is causing stir on the demand side of the economic picture causing an increase in the demand for energy sources as it has a huge effect on all spheres of economy of a nation having a primary influence on industry level. The insufficiency of the available energy sources is causing the people to demand more electricity to meet their needs on the individual as well as industry level which in turn when observed in the context of graphical representation shows a shift of the demand curve to the right causing a shift of the equilibrium position increasing the price level. (Demand-Pull Inflation) The increase in level of inflation has also been caused due to an increase in the cost of energy sources. The scarcity of the energy resources available to the industries is making them shift to other sources for the purpose of energy generation which in turn has caused their costs to sky rocket. Now, due to the heavy burden that everyone has to face in this state of affairs is causing a shift of the AS curve in terms of graphical representation of the scenario. The increase in the costs of production for the industries in turn affects the aggregate supply causing it to decline. This shift of the AS curve to the left also then causes the equilibrium price level to rise, in turn stirring up inflation in the society (Cost- Push Inflation). The power tariffs imposed would further increase the industrial input cost which is already very high making the products more expensive in the domestic as well as the international market. As far as the international market is concerned, the competitive edge of a country would be lost as their goods are more expensive in comparison to the other countries.

Fleeting Satisfaction in Madame Bovary Essay -- Madame Bovary Essays

Fleeting Satisfaction in Madame Bovary      Ã‚   The desire to have romance, rapture, and passion can often times be fleeting and momentary where as the foundation of true love and commitment generally stands solid throughout many trials. In Madame Bovary (1857), a novel written by Gustave Flaubert, the main character of the story, Emma Bovary, finds both passion and commitment in different facets yet she chooses to yield herself to the desires of her heart and seek out passion in other men instead of staying in the comfort of commitment offered to her by her husband.    Emma is first introduced in the story when her ailing father needs tending from a local physician. The doctor is Charles Bovary, whom Emma will later marry. Charles is married at the time he first visits Emma's father. However, Charles wife is old and frail and passes away shortly after he meets Emma. Charles then marries Emma and they move to a small town in France named Yohnville, where Charles sets up his practice. Early in their marriage, Charles takes Emma to a party held by the Secretary of State of France in a large chà ¢teau. After a small taste of royalty, Emma is enamored with the romantic feel of living a royal life. She begins feeling unhappy with her marriage, complaining her husband is boring and dull compared to some of the men she had met at the party. She soon seeks out companionship with other men and eventually becomes two different men's mistress. They, however, tire of her romantic ideas and leave her. Throughout her marriage to Charles, and the diff erent relationships she has, all Emma can see is hopelessness and despair, so she eventually eats poison and dies, leaving her husband and her young daughter, Berthe. ... ...irs (441). Though she may not have realized it, Emma's actions affected many more people than just herself.    All Emma Bovary wanted in her life was to be loved with a passionate love, and she eventually was both loved with commitment and loved with passion, but neither of those satisfied her longings. She compromised her standards for the one thing she desired most and eventually paid the ultimate consequence with her life. The need to feel passion and romance is not nearly worth the price of a human being's life. Madame Bovary truly discovered that the desire to have romance, rapture, and passion is often times a fleeting satisfaction whereas the foundation of true love and commitment stands solid throughout many trials.    Work Cited Flaubert, Gustave. The World's Great Classics: Madame Bovary. New York: Grolier Incorporated. 1968.   

Citation and European Industrial Relations

If I commit plagiarism unintentionally, it's not my fault and I won't face sanctions as I didn't copy someone else's work on purpose. Answer | Selected Answer: | False| Correct Answer: | False| | Only one of the following statements is accurate – which one is it? Answer | Selected Answer:| I used an article found on the internet for my assignment. I attributed the authors name and year of publication in my essay and added the full bibliographic details, including the date accessed, to my bibliography. | | What citation/referencing style are you required to use in assignments submitted as part of your UCD course?Answer | Selected Answer:| Harvard| | In your bibliography when listing a printed journal article, which of the following do you need to include? (Select all correct answers). Correct Answers:| Title of the article Author's name Volume/issue number of journal Title of the journal| â€Å"To adapt, appropriate, or alter the wording of (a saying or quotation) or the words of (an author or speaker) to suit one's own purpose† – Oxford English Dictionary Online (draft revision June 2006), available online [accessed 26th August 2008]. Paraphrasing allows you to allude to another’s work in your own assignments.When paraphrasing another’s work, you are required to acknowledge you are using another’s ideas to illustrate a point, and cite from where the information is sourced. When writing up my project if I change a few words with a section of text I don't have to cite it, because I have paraphrased it. Answer | Selected Answer: | False| | How do you properly â€Å"cite† the source of facts or information you've paraphrased? Check all the boxes to indicate exactly what you need to do to properly cite your sources, using the following webpage for further elp. Correct Answers:| Put an in-text reference i. e. (Author name date: page number) at the end of each sentence that contains new information from the source. Add the bibliographic information for the source (author, title, etc. ) to the reference list at the end of your paper| Quotation marks are used when directly reproducing another person’s words. They are generally used when: * The exact words are relevant to your arguments * Something is expressed in a unique way * Rewriting could cause loss of impactHow do you properly â€Å"cite† a short direct quotation of a few words in the main body of an assignment? Check all the boxes that are needed to properly cite the source of the direct quotation. Correct Answers:| Put quotation marks around the passage Put an in-text reference i. e. (Author surname, year of publication, page number) after the final quotation mark Add the bibliographic information for the source (author, title, etc. ) to the reference list at the end of your paper| Q8 How do you properly â€Å"cite† a direct quotation of a few sentences in the main body of an assignment?Check all the boxes that are neede d to properly cite the source of the direct quotation. Correct Answers:| Indent from the left-hand side of the page Type in single line spacing Acknowledge the source of the quotation by inserting the author's surname, year of publication and page number Add the bibliographic information for the source (author, title etc) to the reference list at the end of your paper| An annual report (whether in print or electronic) is defined as a â€Å"report on an incorporated company's affairs that must be sent to shareholders after the end of the financial year.Such reports contain an audited statement of the company's affairs as well as reports from the management of the company†. (From ‘The Handbook of International Terms in Economics and Business, electronic resource, accessed 30 Sept 2009)Which of the below statements is true? Answer | Selected Answer:| An annual report contains information in the same way as any other source to which you refer in your work and anything used needs to be acknowledged. | | The Web has become a popular source of information for student papers.To avoid plagiarising these sources, follow the same guidelines as print sources. Which of the following would be true of information you find on the World Wide Web or the Internet? Tick all the boxes that apply. Answer | Selected Answers: | Taking small pieces of information from the Internet and using it as my own work or in my assignments without acknowledging its source is plagiarism. I can quote from information I find on the internet or the web for my assignments as long as I acknowledge where the information came from and correctly reference it in my bibliography. | A website is an electronic medium and has its own conventions for citing, including the requirement to state the date on which you accessed the website. This ensures you are citing the most current version of the information on the site. Have a look at www. ucd. ie/library/students/information_skills/citation/harvar d. html#pageonwebsite and answer the following question. If I can’t find the authors/publishers of a website used in my assignment, I don’t have to cite it. Answer | Selected Answer: | False| You are doing an assignment on the role of the Social Partners in Irish Industrial Relations – which is the most authoritative and reliable website source to use for this assignment? Read the descriptions of each source taken from the organisation’s website before you make your decision? Answer | Selected Answer:| European Industrial Relations Observatory – â€Å" The European Industrial Relations Observatory (EIRO) is a monitoring instrument offering news and analysis on European industrial relations. †¦Ã¢â‚¬ ¦.Its aim is to collect, analyse and disseminate high-quality and up-to-date information on key developments in industrial relations in Europe. It aims primarily to serve the needs of national and European level organisations of the social partners , governmental organisations and EU institutions. EIRO is based on a network of leading research institutes in the EU†¦Ã¢â‚¬ ¦ This Committee, composed of representatives of employers, trade unions, member state governments and the European Commission, ensures the objectivity and quality of the information provided. Source: European Industrial Relations Observatory Online(2008) About EIRO, < http://www. eurofound. europa. eu/eiro/about_index. htm >Accessed 27 May 2010)| | Q13 In the main body of an assignment, an online resource will be referenced in the same fashion as a textbook or journal article [i. e. (Author, Date of Publication)]. Answer | Selected Answer: | True| | In an assignment, an online resource should be referenced in the bibliography using the following format:Author (if there is one), Year, Title of Article, Organisation/Association, website address/URL [date you accessed the website]Answer | Selected Answer: | True| |

Reading Comprehension for Beginners - My Office

Read the paragraph which describes my office. Pay special attention to the use of prepositions in the reading selection. Youll find useful vocabulary and quizzes below to test your understanding.   My Office Like most offices, my office is a place where I can concentrate on my work and feel comfortable at the same time. Of course, I have all the necessary equipment on my desk. I have the telephone next to the fax machine on the right side of my desk. My computer is in the center of my desk with the monitor directly in front of me. I have a comfortable office chair to sit on and some pictures of my family between the computer and the telephone. In order to help me read, I also have a lamp near my computer which I use in the evening if I work late. There is plenty of paper in one of the cabinet drawers. There are also staples and a stapler, paper clips, highlighters, pens and erasers in the other drawer. I like to use highlighters to remember important information. In the room, there is a comfortable armchair and a sofa to sit on. I also have a low table in front of the sofa on which there are some industry magazines. Useful Vocabulary armchair - a comfortable, padded chair that has arms on which to rest your armscabinet - a piece of furniture that holds objectsdesk - a piece of furniture on which you write or use your computer, fax, etc.drawer - a space which opens for you to store things inequipment - items used to complete tasksfurniture - a word referring to all the places to sit, work, store things, etc.highlighter - a bright pen with a thick tip which is usually green or bright yellowlaptop - a computer you can carry with youpaperclip - a metal clip that holds pieces of paper togetherstapler - a piece of equipment used to staple papers together Multiple-Choice Comprehension Check Questions Choose the correct answer based on the reading.   1. What do I need to do in my office?   A) relax B) concentrate C) study D) read magazines 2. Which piece of equipment do I NOT have on my desk?   A) fax B) computer C) lamp D) photocopier 3. Where are the pictures of my family located?   A) on the wall B) next to the lamp C) between the computer and the telephone D) near the fax 4. I use the lamp to read:   A) all day B) never C) in the morning D) in the evening 5. Where do I keep the paperclips?   A) on the desk B) next to the lamp C) in a cabinet drawer D) next to the telephone 6. What do I keep on the table in front of the sofa?   A) company reports B) fashion magazines C) books D) industry magazines True or False Decide if the statements are true or false based on the reading.   I work late every night.  I use highlighters to help me remember important information.  I keep reading materials that are not related to my job in the office.  I dont need a lamp to help me read.It is important to me to feel comfortable at work. Using Prepositions Fill each gap with a preposition used in the reading. I have the telephone _____ the fax machine on the right side of my desk.The monitor is directly _____ me.I sit _____ my comfortable office chair.I also have a lamp _____ my computer.I put the stapler, pens, and erasers ______ the drawer.I have a table _____ the sofa.  There are lots of magazines _____ the table. Answers Multiple-Choice B - concentrateD - photocopierC - between the computer and the telephoneD - in the eveningC - in a cabinet drawerD - industry magazines Answers True or False   FalseTrueFalseFalseTrue Answers Using Prepositions next toin front ofonnearinin front ofon Continue reading with these appropriate reading comprehension selections.