Microeconomics Summary paper Term Example | Topics and Well Written Essays - 1500 words

Microeconomics Summary - Term Paper Example Demand relationship is the association between the amount demanded and the price it is demanded at. Supply and demand are expressed in terms of the price (J. R. Adil, 2006). The force which distributes the resources is triggered by the correlation of supply and demand. The theories involved in market economy suggest that the supply and demand theory can distribute the resources in a highly efficient manner. To see how that happens we will study closely the laws of supply and demand. According to the â€Å"Law of Demand†, considering all the other factors to remain constant, the price of a good is inversely proportional to its demand. If the price of a good is increased than less people would want it and if the prices are decreased then more people will want to buy the good. With the increase in price of a good or service, there is an increase in the opportunity cost of the purchase of that particular good or service and that is why less people buy that good. This will result in people not buying goods which will cause them to abstain from using goods which are more valuable to them. As shown in the graph below, the curve is a downward slope. The curve of demand has three points on it which are A, B and C on it. On the curve, the relationship between price (P) and quantity (Q) is being directly represented at each point. So the quantity and price at point A will be Q1 and P1 respectively, and so on. The inverse relation between the price and quantity demanded is evident from the curve. At A the price is higher therefore the demand is lower whereas at C, the demand is higher and the price is lower (Economics Basics: Supply and Demand, 2003). The law of supply exhibits those quantities which are sold at fixed prices similar to that in the â€Å"Law of Demand†, but the slope in the law of supply is upward. This means that the price and the amount supplied are directly proportional to each other. Higher the price higher will be the supply.

Argumentative - Stereotyping Essay Example | Topics and Well Written Essays - 1250 words

Argumentative - Stereotyping - Essay Example Further, with the advancement in technology, the pregnancy is notably expensive to â€Å"maintain†. It becomes difficulty to afford to term the pregnancy until delivery, or it becomes hard to bear to give away the child due to the motherly attachment. Unplanned pregnancies can prove stressful for women and whether or not to have right to abort remains a controversial topic. Critics believe abortion is not a subject of discussion because according to them, it is not only wrong but also a crime (Boonin 5). They say aborting or killing a fetus is terminating a human’s life. However, it is realistic for women to abort due to various reasons. Due to the several instances leading to pregnancy, it is arguable that abortion should be allowed. For instance, women have the right to exercise the will to make choices about their bodies (14). A woman has a right to abort if she is of tender age and cannot afford to raise the baby. A woman should also have the right abort in case the pregnancy exhibits negative health effects on either the expectant or the offspring. It is a woman’s right to decide on what to do with her own body as having control over it is as vital as any other human right. Women rights activists argue that, all women have the right to whatever they please with their bodies without anyone’s interference. In addition, a woman should have the right to abort if she is of a tender age and in no position to bring up the baby. Sometimes, medical practitioners do not suggest abortion to girls under the age of sixteen as they may lose the ability to have children in the future. Nevertheless, unplanned pregnancies can exert too much trauma on women (18). Therefore, if they cannot properly give the child a normal life it is reasonable for them to flash the child. This could prove important for a mother’s life and her future especially if the mother is still in school. There are