The Meaning of s.t. or Subject To in Economics

In economics, the letters s.t. are used as an abbreviation for the phrases subject to or such that in an equation. The letters s.t. proceed important constraints that the functions must follow. The letters s.t. are generally involved in stating relationships between economic functions using the mathematical functions themselves rather than articulating the same in prose. For example, one a common usage of s.t. in economics may appear  as follows: maxx f(x) s.t. g(x)0 The above expression, when stated in or translated into words, would read: The value of f(x) that is greatest among all those for which the argument x satisfies the constraint that g(x)0. In this example, f() and g() are fixed, possibly known, real-valued functions of x. The Relevance of s.t. in Economics The relevance of the use of the letters s.t. to mean subject to or such that in the study of economics stems from the importance of mathematics and mathematical equations. Economists are generally interested in discovering and examining different types of economic relationships and these relationships can be expressed through functions and mathematical equations. An economic function attempts to define observed relationships in mathematical terms. The function, then, is the mathematical description of the economic relationship in question and the equation is one way of looking at the relationship between concepts, which become the variables of the equation. The variables represent the concepts or items in a relationship that can be quantified, or represented by a number. For instance, two common variables in economic equations are  p  and  q, which generally refer to the price variable and quantity variable respectively. Economic functions  try to explain or describe one of the variables in terms of the other, thus describing one aspect of their relationship to one another. By describing these relationships through mathematics, they become quantifiable and, perhaps most importantly, testable. Though at times, economists prefer to use words to describe economic relationships or behaviors, mathematics has provided the basis for advanced economic theory and even the computer modeling that some modern economists now rely upon in their research. So the  abbreviation s.t. simply provides short-hand for the writing of these equations in place of the written or spoken word to describe the mathematical relationships.

Argumentative Synthesis 1 - 763 Words

Rebecca Crockett Shannon Lerro Argumentative Synthesis November 4, 2010 Does talking on the phone while driving affect the driver? Drivers shouldn’t be able to use phones while driving because it can be extremely hazardous for not only them but their passengers, or others traveling along the same road. If changing a radio station is considered a major distraction to drivers, how is it not a distraction to look down to find your cell phone? Cell phones, have been known to cause wrecks that can even result in fatalities. In a recent article , â€Å"Distracted Driving: Should Talking, and Texting Be Banned† It clearly states that we weren’t trained to operate a heavy steering vehicle, while also operating a small handheld computer. Research†¦show more content†¦As he proceeded through the course his mind began to wonder as he focused on fulfilling his task. His driving began to worsen, and he tipped over cones as a result of this. The point of the exercise was to demonstrate that the brain when forced to multitask can’t fully concentrate on each individual task. The policemen who gave licenses to individuals, was affected by this experiment, imagine the normal person’s response when presented this task. The National Safety Council (NSC) is advocating legislation to ban all types of cell phone use on the road, including hands-free usage. Anticipating some of the arguments against cell phone bans, the NSC admits other in-car activities are more dangerous than using cell phones. However, the group says as cell phone use becomes more popular, it has become more dangerous overall. Now, six states have bans on driving while talking on a hand-held cell phone: California, Connecticut, New Jersey, New York, Utah and Washington. It’s also become banned in the District of Columbia, and at least five other states have cities and towns with bans. Talking on a phone while driving is dangerous, period, and our advice to drivers is to simply don t do it, Jonathan Adkins, spokesman for the Governors Highway Safety Association of Washington, Dc said last year. It taxes the cognitive skills of your brain at the expense of the driving at hand, and if the conversation is stressful your reaction t ime will not be as quick. Also, whoever you areShow MoreRelatedClassical Principles or Argument Essay1169 Words   |  5 PagesThe classical principles of arguments are described as an argument synthesis which is a claim that reasonable people could disagree with. 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In contrast to other journalsRead MoreLudwig Van Beethoven945 Words   |  4 Pages1795 for the first time, and published his Op. 1 and Op. 2 piano sonatas. His works are traditionally divided into three periods. The first is called the Viennese Classical, the second is the Heroic, and the third is Late Beethoven. In the first period, his individuality and style gradually developed, as he used many methods from Haydn, including the use of silence. He composed mainly for the piano during this period. These works include Symphony no. 1 in C (1800), his first six string quartets, andRead MoreEssay about The Demands of Middle School Writing1471 Words   |  6 Pages 2004). It is a complex, higher order thinking skill that has special challenges for special students. 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Protective Value of Estuarine and Coastal Ecosystem

Question: Discuss about the Protective Value of Estuarine and Coastal Ecosystem. Answer: Introduction: Kim operates a bakery which specializes in making different kind of bread and related products such as cakes and pies. The business has been struggling in the recent months and is either making losses or very small profit in last few months. He is of the view that main problem with the business is the pricing of different products. Problem with pricing of different products The major problem for the bakery is to price all the individual products that the company has on offer. Since the resource estimate for each of the products are not well defined, there are chances of over pricing one product and underpricing the other. He determines using his objective thought process what is the probable value of the product and that is how they set the pricing of the product. Kim has identified that there is a need to identify the actual product cost and then put up a margin above it which will insure that not a single product is sold in loss. If this strategy is implemented properly then there wont be any issue with the pricing of the product. It has been seen historically in any business if one can identify the costing of the product in the right manner and is able to charge the mark up on the costing to the customer, the business wont see any losses (Beguera, 2014). Cost Aspects As we can see from the various aspects of costs in the bakery, there are some which qualifies as fixed costs and some which qualifies as Variable costs to the product. The fixed cost is something which is recovered over a period of time, while variable cost of the costs of goods sold need to be recovered in the raw pricing of the product. In this case rent, bakery equipment, insurance policy are fixed costs and that is something which needs to be recovered from the contribution margin (Beguera, 2014). While the other costs such as costs of raw material, electricity, heating, advertisement, and staff cost are variable costs. These set of costs need to be recovered within the pricing. The main difficulty which Kim has in determining the costs are the fact that what cost goes to which product line. As seen in the case Kim has different product lines and hence what aspects of the cost goes to which head is very important to determine. Pricing Model The pricing model in this case which Kim wants to implement is pricing recovery model. Under this model the business intends to recover all aspects of the cost and make sure that all cost heads are built into the price. This kind of model works well into a manufacturing system as each aspect of cost is very well defined. However in case of service of complex inputs into the product it becomes very difficult to determine the exact price of the product. Advice for Kim It is advisable to Kim that he breaks down all fine inputs which goes into final product preparation. This will help in drilling down the exact cost of the product. It is very important that product has all possible inputs on pricing. This is the reason why Kim should work on determining all critical aspects of the business and then map out which resource is going into which production unit. This will finally help in mapping all aspects of the business and then do proper costing exercise. Budgeting is one of the most critical exercise and it is very important that all organizations adhere to it in all possible details. This is one annual exercise which if performed in details helps out individuals in meeting all requirements of the organization. Budgeting tends to become the benchmark for an organization to follow. Budgeting is a very important process in the whole business system. The budgets are generally created at the start of financial year or may be at the end of the previous financial year. Lot of historic information is used and then the same is mapped on the current market situation. Budgets stand to become the benchmark which the business need to follow throughout the year and report to the management of the company. The budgets are generally approved by the board of the company and are used to compare the actual performance of the company vis--vis the budget. The performance assessment of the business involves lot of analysis and one should see what are the possible targets or benchmark with which one compares the actual numbers. In preparation of the budget all targets that the business wants to achieve or can achieve are built into the budget. This is then used actively by the business and then the same is mapped with all other aspects of the business. It is expected that from any business house that they will detail out all aspects of the business in the form of numbers. This numbers are driven by different business function heads who articulate the expected revenue numbers. This revenue numbers are function of business situation, historical revenue numbers, market share of the business and the possible strategy and the resultant growth in the coming year. The modern day businesses thrives on the budget and the management derives lot of its strategy based on the budget. The budgeting numbers help in distributing targets to the line manager. The line manager then tends to take it to the whole sales team who are responsible for actua l sales. On the other side there are people involved who are responsible for proper cost management. The expenses of the company ideally should not cross the budgeted figures. This is where people who are responsible for expenses need to monitor using the budget all the expenses. Any variances that can occur under this category now need to be reported and approved by the management. The budget tends to a good benchmark vis--vis which business compares itself. All the variances whether revenue or expenses need to be reported to the management who will then explain it to the board. The variance tracking in businesses vis--vis the budget is a very important activity across business houses. The reason for the same is the fact that it helps the business maintain checks and control over its performances and take corrective actions if any. Let us see with an example on how a typical company might consider few business decisions before making a budget. Some of the key initiatives planned for Company X for Jan17 Mar18 are and change management procedure may be considered for these: Marketing target US market; Delivery strategy to address global clients other MCO Covance shall have clarity once we have the marketing strategy in place; Upgradation of Product to cloud-based version available across devices with added functionalities; Encryption of web-hosted db (client data) for website; Migration to HRMS cloud-based solution ongoing process of evaluation of vendors from the functional and infosec perspective; Implementation of a Learning Mgmt Solution for measuring training effectiveness; Migration to INDas for A/c (external change); Implementation of GST (external change); Enhancement of BCP capabilities to include scenario of primary site server shared drive not accessible for processes run on ICRON network; Capabilities to operate seamlessly as a multi-locational unit with possibility of setting up a small delivery centre in another city; Adoption of new technologies like visualization ..; Migration to ISO 9001:2015. So this typical business house need to consider all this inputs as broader perspective before taking a budgeting call. As we can see company intend to take some new expenses in the coming year for better revenue flow, this is where the costing teams need to incorporate all possible expenses and cash outflow from the company. We have now been able to see why budgeting is so important and why all critical inputs totally add up to a lot when making a budget. References: Beguera, S., Leandri, M. and Campos, P., 2014, May. An operative environmental accounting framework for forest land blue water production. InEGU General Assembly Conference Abstracts(Vol. 16, p. 4962) Dong, M., Ryan, S. and Zhang, X.J., 2014. Preserving amortized costs within a fair-value-accounting framework: reclassification of gains and losses on available-for-sale securities upon realization.Review of Accounting Studies,19(1), pp.242-280 Barbier, E.B., 2016. The Protective Value of Estuarine and Coastal Ecosystem Services in a Wealth Accounting Framework.Environmental and Resource Economics,64(1), pp.37-58 Zimmermann, J. and Werner, J.R., 2013. Explaining the Evolution of a New Accounting Framework.InRegulating Capitalism?(pp. 3-12). Palgrave Macmillan UK Kemme, D. M., Koleyni, K. (2016). Exchange Rate Regimes and Welfare Losses from Foreign Crises: The Impact of the US Financial Crisis on Mexico.Review of International Economics. Kirton, J. (2016). G8 Financial Crisis Governance.Journal of European Social Policy,26(3), 1-20.

The Red Scare Essays (1992 words) - Poetry By Edgar Allan Poe

The Red Scare Many people label Edgar Allen Poe a horror writer, plain and simple others refer to Poe as the father of the detective story, but over all he?s one Americas greatest writers. His ability of expressing the world in gothic ways, really captures the reader?s attention. Even though he lead a tough life and was known as a sadistic drug addict and alcoholic, he still managed to produce great pieces of literature. Three of his greatest works were The Tell Tale heart, The Fall of the House Usher, and The Raven. All of these are very known troughout the world and are considered three of Poe?s greatest pieces. He was born in Boston on January 19, 1809, his parents, regular members of Federal street theater, named him Edgar Poe. Shortly before his mother's death in Richmond, Virginia on December 8, 1811, his father abandoned the family. John Allen, a wealthy tobacco merchant in Richmond, brought Poe into the family (at his wife's request), and gave him the middle name Allen as a baptismal name, though he never formally adopted him. Even though Allen?s treatment toward Poe is not exactly known, we know that Allen never treated Poe with sensitivity. In 1815, the Allen family moved to England on business. There, Poe entered the Manor-House School in Stoke-Newington, a London suburb. This school taught him the gothic architecture and historical landscape of the region made a deep imprint on his youthful imagination, which would effect his adult writings (Levin, 14). The Allens left England in June 1820, and arrived in Richmond on August 2. Here, Poe entered the English and Classical School of J oseph H. Clarke, a graduate of Trinity College in Dublin. On February 14, 1826, Poe entered the University of Virginia. Though he spent more time gambling and drinking than studying, he won top honors in French and Latin. On May 26, 1827, Poe enlisted in the US Army under the name Edgar A. Perry. He joined Battery H of the 1st Artillery, then stationed at Fort Independence. While Poe served there, Calvin F.S. Thomas printed Poe's first book, Tamerlane and Other Poems, a slim volume, which failed to earn any fame or money. Poe then visited Baltimore, and arranged for the printing of another slim volume, entitled Al Aaraaf, Tamerlane, and Minor Poems. Then, Allen obtained an appointment for him as a cadet, so on July 1, 1830 he entered West Point Military Academy, making his residence at No. 28 in the South Barracks. Poe's military career, however, flopped. After his dismissal, he published a third volume of poetry, this one dedicated to the US Corps of Cadets, for he had taken a subscription from them to raise funds. He then settled in Baltimore with his impoverished aunt, Maria Clemm, her daughter, Virgina Clemm, and his older brother, William Henry Leonard. He tried looking for work as a teacher in B altimore, but another person got the job and Thomas Willis White hired him as an editor at The Southern Literary Messenger, in which he published short stories, poems, and ascorbic literary reviews. In October, the Clemms joined him, and in May he married his cousin Virginia. The rest of his life, Poe suffered from severe mental depression and declining physical health. In 1838, he published his only novel, The Narrative of Arthur Gordon Pym. In December, 1839, he lost his job because of the intense rumors of his excessive drinking habits. By late 1846, financial woes and Poe's own continuing decline ended the magazine (Levin, 18). In January 1847, his wife died in their cottage at Fordham. This made his poverty and instability worst. He continued to write, and engaged in unsuccessful publishing schemes and romances, until, on October 3, 1849, Joseph W. Walker found him unconscious, (thought to be intoxicated) in the street. Poe remained hospitalized, oscillating between a somatic state and violent delirium, until his death at 5 am on the 7th of 1849. Poe's literature hardly relates to the harsh realities of 19th century life. The dark, chaotic, romantic worlds he created represent an escape from the real, unromantic miseries of life to a place where miseries become grand, beautiful things. The story The Tell Tale