The COVID-19 pandemic is, for all intents and purposes, causing a worldwide economic recession, with businesses shutting their doors and many people out of work.
Consider the market for electricity during this crisis. Draw a diagram for each of these situations.
(a) What effect does COVID-19 have on supply and demand in the market for electricity? (5%)
(b) Suppose that the government considers banning electricity bills until the
COVID-19 subsides. What effect might this have on the market for electricity? (5%)
(c) Instead of the proposal in (b), the government considers subsidizing the market for electricity. What effect would this have on the market for electricity? (5%)
(d) Is there an argument, based on externalities, for subsidizing electricity? (5%)
2. The COVID-19 pandemic is a headache for airlines, who struggle to determine a
pricing strategy for their businesses. Consider the market for airplane tickets. Assume that airlines can choose prices (i.e. shift the supply curve at whim), and that their goal
is to maximize revenue (i.e.
Price×Quantity). Your task is to help them fulfill this goal.
(a) Using supply and demand curves, argue that airlines should decrease ticket prices during COVID-19. (5%)
(b) Using supply and demand curves, argue that airlines should increase ticket prices during COVID-19 (hint: consider elasticities of demand). (5%)
(c) Which of the arguments in (a) or (b) do you find more compelling? Why? (5%)
Correspondence is the method for imparting to offer data to an individual or a machine. In this piece, it will incorporate the kinds of correspondence required for individuals to offer data to someone else, or even to educate them regarding things that are significant. Just as correspondence required in consideration setting, obstructions to correspondence, various types of correspondence, compelling correspondence and enactment in correspondence. There are a couple of key issues inside correspondence would be the absence of correspondence in significant minutes, for example, multi organization work. Multi office work is when heaps of various gatherings of individuals meet up from loads of various callings, for example, wellbeing, police, social administrations and training. They meet up with the goal that they can work out how to help a person in a circumstance, ordinarily a youngster or kids. Multi-office working was united after case including a kid turned out badly on the grounds that experts weren't handing-off data apportion to each other and accordingly, no data was breaking through to different experts in these cases. This would demonstrate that the correspondence they were utilizing was not full of feeling and was not working, so thusly they expected to change their ways on how they imparted and hence think of a superior way that is progressively successful. This is additionally when the Children's Act 2004 came into spot. The Children's demonstration 2004 is 'improve and incorporate kids' administrations, advance early mediation, give solid authority and unite various experts in multi-disciplinary groups all together accomplish constructive results for youngsters and youngsters and their families.' Another key issue in correspondence is secrecy. Classification is the security of individual data, which would be a social insurance expert keeping a patient records among them and their associates and not advising the patients data to anybody outside the work spot or anybody superfluously. This data that is examined is private to the patient and they put their trust in the social insurance expert to not advise anybody that doesn't have to know. Classification guarantees that people's data is dealt with in the right way, generally this could make trouble a person. It is likewise pivotal for somebody to keep someone else's data private since, no one can tell what is new with their home life, if data isn't dealt with accurately or dealt with effectively, things may be missed, for example, recognizing that somebody is being mishandled. This is likewise another central motivation behind why classification is significant. Data not being utilized effectively could jeopardize somebody, for example, if the person's abuser was advised that the individual had gone to see somebody and afterward the expert had told the abuser (breaking secrecy) there could be awful very ramifications for the person. Privacy is likewise utilized outside the consideration setting, its utilized in schools. This is generally utilized in manners, for example, school pickups and guarding youngsters' private data. School staff would regularly do this by getting adaptation from the guardians on who is grabbing their youngster and now and again should give a secret phrase to an individual from staff, set by the parent/guardians. This should likewise be possible by the parent ringing the school to tell them who is grabbing their youngster, however the secret key would even now be set up. The school would guard a youngster's data by numerous ways. For example, in a bolted bureau, on a safe PC with passwords, or a file organizer memento by key. Another key issue to correspondence would be language. This can be anything from a handicap that stops somebody having the option to impart, to English not being somebody's first language, or the sort of language somebody will utilize, for example, slang. A handicap or learning troubles can stop or forestall somebody imparting in a few different ways, for example, not having the option to process data that is being said to them. This can be troublesome in light of the fact that the individual that is addressing the other individual with the handicap, may not realize they have that incapacity. There is a condition like this called Aphasia. 'Aphasia is the point at which an individual experiences issues with their language or discourse. It's typically brought about by harm to one side of the cerebrum (for instance, after a stroke).' English not being a people first language can cause a couple of issues, for example, not understanding each other, getting confounded about what each other is discussing, and just for the most part getting befuddled and not understanding numerous things. Be that as it may, there is numerous ways around this issue, for example, utilizing an interpreter (electronic or human), utilizing non-verbal communication to portray certain things or articles, utilizing motions to appear or depict things, outward appearances to indicate feelings, drawing things or emulating. Vagrancy can likewise be an issue in language obstructions, this is on the grounds that vagrancy can prompt individuals not speaking with each other in light of the fact that they judge their circumstance and where they live, rather than seeing what the individual is truly similar to and what they have experienced. This can cause a couple of issues since this can cause somebody who is destitute to not have any contact with anybody and cause them to be socially disconnected. There is additionally another factor that can influence correspondence, that being psychological well-being. Emotional wellness can be troublesome on the grounds that psychological wellness can be an assortment of things, for example, chemical imbalance, sorrow and tension, temperament swings and not having the option to adapt to specific things. Discouragement and tension can make it difficult for a person to impart, contingent upon how awful their circumstance is. Its hard for people with melancholy to converse with others some of the time, since they may feel like there going to be judged and stress over how the other individual may respond to what they state, it can likewise be that the person that is enduring with misery may feel that they are bad enough to address who ever they are having a discussion with, in this way bringing down their self-assurance. Nervousness may make a person to bashful or even make them apprehensive to address individuals. In any case, more critically, it might make people too anxious to even consider going out without anyone else, or even do anything independent from anyone else. In this way, they may battle to speak with others since they will most likely be unable to disregard the house or let alone by any means, so they will likewise turn out to be socially secluded in light of the fact that they aren't speaking with others or in any event, seeing other individuals. State of mind changes can influence correspondence in a few different ways, for example, an individual being aloof a result of their temperament/disposition swings. This can influence somebody's correspondence in light of the fact that nobody needs to converse with somebody who is troublesome and disconnected and that is flighty. In any case, a few people manage Individuals like this, and help is accessible for them, for example, emotional wellness masters. An emotional wellness condition that may influence somebody's emotional episodes and make their disposition erratic, would be Bipolar issue 'Individuals with bipolar issue have periods or scenes of gloom when they are feeling low and dormant and insanity – feeling exceptionally high and overactive (less serious madness is known as hypomania)' Hypotheses There are two hypotheses in correspondence being Bruce Tuckman's phases of correspondence, and Michael Argyles correspondence cycle. Tuckman thought of; framing, raging, norming and performing. Shaping is choosing what you need to be, raging is who you like or who you don't care for, norming is the point at which you become typical for that gathering and fit in, lastly performing is the point at which you are at your best and can convey well. This hypothesis of correspondence could be regularly utilized for prospective employee meetings, when the business is picking up-and-comers reasonable for the activity. They need to ensure that an up-and-comer can work inside a group and that they are reasonable for the job that is required. in this sort of situation, shaping would be the choice of applicants and meeting them, raging would perceive what people resemble and if the business likes them and how they work, norming would assemble competitors and perceiving how they work inside a group setting, and performing would be when individuals in their chosen gatherings work there physically best and can do the best occupation that they do. Argyles correspondence cycle is 'Relational correspondence was an aptitude that could be learnt and built up a similar way you figure out how to drive. You are continually watching what's going on, working out how to react and reacting, at that point rehashing this cycle.' This correspondence cycle is the manner by which the mind forms correspondence. This is appeared through this cycle, which being, the thought happens – believing that your going to state something, message coded whether the correspondence will be verbal or electronic or composed, sending message – saying something verbally or electronically or composed, message got – the message must the individual, message decoded – comprehending the message and working out what has been stated, message comprehended – indicating non-verbal communication or eye to eye connection to an individual demonstrating that you comprehend, and input sent – answering to the message that has been sent.>GET ANSWER