Microeconomics assignment Example | Topics and Well Written Essays - 1250 words

Microeconomics - Assignment Example Moreover, the possibility of allocative, distributive and productive inefficiencies in the manufacturing sector of the People’s Republic of China. The production possibility frontier is the maximum possible level of production that resources within an economy can produce successfully. It is like the boundary beyond which the same economy cannot sustain the production of any products (Jowsey, 2011). The curve bellow can best illustrate the concept of the production possibility frontier. The curve represents the boundary that this particular economy can produce the two commodities A and B. It is the limit at which if the available resources can produce the commodities without strain. Two locations stand out in the curve above. At position x, the resources that are available are not fully utilized. This is mainly because at this point in time, the economy is not operating at a full potential. At point Y, the economy cannot operate because the available resources cannot sustain the production of two products. The economy can be sustained at Y only if there is an economic growth. However, that would still be difficult since there are limited resources that cannot be stretched any further. According to Antonneli (2011, pp 145), the only possibility of this economic growth happening is through the advancement of technology. Efficiency, in this case, comes through technology and the labor cost reduced. However, this growth is nullified with the cost of introducing technology (Jowsey, 2011). This curve therefore is most likely the cap of what this entire economy can produce. Therefore tradeoffs have to be made on which resources to be distributed to which sectors in order to maximize their use. To explain the concept of productive efficiency, consider the graph above. Assuming that the two commodities are not in any way related but, the desire to grow the economy

Summary and Reactions to the book Black Like Me, Author - John Howard Essay

Summary and Reactions to the book Black Like Me, Author - John Howard Griffin - Essay Example In the book, Griffin explains how he came up with his idea to try living like a black man for a while as a means of trying to understand how their lives are affected by racism and prejudice in the 1959-1960 South. He does this by presenting the material as a journal entry, allowing his thought process to flow, finally leading to the conclusion that you can never know another man unless you’ve walked a mile in his shoes. The first ‘chapter’ is presented as an introduction to the idea, the mechanics involved in putting it into motion and his arrival in New Orleans where he plans to make his transformation, but it ends before the transformation starts as he is still enjoying the comforts and fine lifestyle of the white man in the city. The second chapter outlines his change and his first experiences as a black man before he’s even become one. This is in the form of his doctor’s comments about the ‘nature’ of the black man as inherently viol ent the darker they are. When he first sees himself as a black man, he panics and feels like he isn’t himself anymore and this is somewhat verified as he is no longer able to do the kinds of things he was used to doing as a white man. The only positive difference he discovers is that the black people treat him better. Although he discovers an entirely different world in New Orleans, he learns about how much more difficult things are for blacks in Mississippi and decides that he needs to go there to understand the dynamics of what is going on. There are so many experiences in the various chapters that it is impossible to list them all, but Griffin, in his journeys, discovers that the problem of racism isn’t just with the ignorant white people of the countryside, but that it rests more squarely on the shoulders of the educated white men that continue to create laws that make it possible for racism to continue. In