Impact Of Tourism On The UAE Economy

Impact Of Tourism On The UAE Economy Introduction Tourism, a very advance and complicated sector, is still very difficult to express. The tourism sector of any country can never be measured easily. Many countries which do not have much foreign goods exchange from their country rely on their tourism income. Even small countries like Singapore and Malaysia are having more than half of their income coming from tourism sector. These are those counties which are growing only because of their tourism income. Impact of Tourism over the Economy of a Country The overall economic growth of a country depends upon two things viz. foreign exchange and internal rising income. Among these two, the foreign exchange contributes to approximately 60% of the increase in revenue of the country. Tourism is a part of foreign exchange where the country earns from the incoming and outgoing tourists. It plays a vital role in economic growth of any country. In most of the countries tourism has become their main source of foreign income. A number of OECD (Organization for Economic Co-operation and Development) countries contribute to about 65% of tourism activity. Countries like France, Germany and Australia comes under OECD member list. The WTO (World Tourism Organization) reports that about 700 million people traveled to a foreign country in 2000, spending over US$ 480 billion while on the tour.  (UAE tourism, 2010) Positive and Negative aspects of Tourism Income Of course every market issue comes with a good point and a bad point. The positive point of tourism is that it helps in growing the economy of the country and it increases the value of the country in the world market. It also increases employment opportunities and improves the socio-cultural level of the local mass. The local products reach a good amount value and are commercialized over the world market. But the coin has two sides. The negative side of the coin i.e. the negative points of tourism includes spoiling of the historical and antique monuments of the country. It also contributes to the increase in terrorism. It can also lead to information leakage of the classified documents which can cause some country to easily ground them. No one can ever say to what extent tourism can lead a country to. Adding to which, on increasing tourism there is a loss to the environmental aspects that is, it results in raising the consumption of ground, water and energy which ultimately leads to destruction of land and environment. The tourists knowingly or unknowingly spoil the cleanliness of some other place. There is an imbalance in the ecosystem and leads to species getting endangered. In the worst cases tourism can also add to an increase in the prostitution business (sexual tourism). Moreover the narcotics market is also flourishing through tourism. It has been observed that most of the youth are getting drugs from the outside mass coming to their country. What attracts a tourist? As far as the cultural issues are concerned tourism helps in advancing the cultural aspects of any country to the whole world. Most of the tourists going from one country to another are very much inspired from the cultural outlook of other country. Everyone needs a change, needs a place to go and chill, so they prefer travelling to other country and enjoying the essence of their culture and their way of living. So this is also a route through which the tourism sector can flourish. Beside the cultural trait the thing that attracts a tourist to go and visit another country is their history. They say, it is the history of a country that affects its future, well this statement is completely right reflecting the reason why tourist want to visit some other country. People like to visit Egypt to see their historical Pyramids and their famous stories of Mummies. Similarly the seven wonders of the world are visited regularly by thousands of people from different parts of the world. Most of the time people visit other country just for leisure. (UAE tourism, 2010) Race between countries over tourist income Seeing the overwhelming tourist coming to a country, every country wants to increase their own share of tourism income and it is quite obvious. To attract more and more tourist, people includes different tourism packages just to increase their income. They are willing to cut down their own food just to give them their share of food and that too not in good sense but only to have better income. Special privileges are given to tourist like some of the specific tourist spots are given much attention by the government. This helps them to have a better show off on their income masses. UAE, the most attractive tourist spot The UAE has strengthened its position in the tourism sector by offering a wide range of leisure and sports activity. This is the main point of attraction in UAE. There is no question that UAE is one of the most attractive and most visited country in the whole world. Beside the economic income from the oil business the government does not completely rely on its income from it and it has led them to put more emphasis on making several multi-billion and huge projects in both public as well as private sectors. These have led to attract many tourists from different parts of the world. According to a report from the WTTC (World Travel and Tourism Council) it is estimated that by the 2015 tourism in UAE would increase by about 7% from todays data. On the increasing accounts of Dubais expensive projects this percentage can even go higher. These include projects such as the Palms in Dubai, Burj Khalifa, the Waterfront and the Marina. Dubai has been known for its fabulous ethnicity and hospitality. It has been one of the most favorite places with respect to tourist invasion. It has become a worldwide travel and business destination. According to files Dubai has attracted over 5 million tourists from all over the world to visit its great architecture. A wide range of hotels and beach side resorts have made it comfortable for the tourist to stay in Dubai. Conclusion From the above discussion it can be concluded that tourism is a sector which has major impact on economy of any country. Factor of being a favorite tourist place can vary country to country. Dubai is one of the favorite tourist places. Tourism also associates some negative factors also. (UAE tourism, 2010)

Knowledge: Books Or Experience Essay

Knowledge can be gained through various means, the most important being reading the books. Experinced is also one of the important factor to gained the indepth knowledge. There has been always a controversy between the two about which one gives richer and broader view of knowledge. I personaly feel that this two are interrelated, in the sense one follows the other. Knowledge gained through reading the books is of no use unless and untill we implement it in our practical life. Implementing the knowledge is nothing but the experince gained through it. Books are the vast storage of knowledge. Numerous books are available on varied subject. One can gain indepth knowledge by reading varied books on that topic. This will give the individual broader and richer view on that topic. However, untill and unless he implement his knowledge in his practical life, the knowledge gained will be of no use. For instance, the Lawer has to read varied books during their professional life. He needs to know the broader and perspective view of each and every law he studies. But his knowledge will be of no use untill he implement it. It is through experince that he will come to know where to apply the particular law or any penal code. So his knowledge about law will follow the use of it in practical life. There are certain other example to support this point. An engineering student will use his knowledge gained through reading the books on engineering subject in an industry. Doctors, scientist, bureacrats, etc all needs to first go through books on their choosen subject and later on the knowledge gained through this will help them to implement it in day to day life. see more:why are books better than tv However, there are certain things which can be gained through years of experince. But in the long the term that may not be that much helpful. For instance, take the case of share broker who has a little knowledge about the stock exchange terms. However, his vast experince in the long term help him to cope up with all the ups and down in the share market. But his experince will be of a little help if he does not know some of the crucial terms and will put him in jeopardy. Such crucial terms can be gained through reading the books only and not through experinced. In sum, it is the experinced gained after reading the books that gives indepth knowledge of certain thing. Knowledge through books and experinced after that are process which follows one after another. Indepth knowledge about certain thing can be obtained after implementing your knowledge gained through reading books.

How Significant Factors Can Change People’s Opinions Essay

The essayâ€Å" In the Jungle† tells a story of a woman who is used to works under high pressure and takes a journey to the Ecuadorian Jungle, and near the Napo River she finds out that she is no longer stressed and depressed anymore. The peaceful environment changes her completely. This example shows how the physical environment can affect people mentally. The Essay â€Å"Our Animal Rites† tells a story of a woman who encounters a bear by an accident, and she realizes that where she is living now, the country used to be the home of the bear. This fact shocks her and she starts to wonder whether she is the one who has taken the bear’s home away from it. This example shows how physical environment can affect people emotionally. Besides these, the environment can change people physically too. There are some major changes I experienced after I came to the U.S by the way I dressed, the way I talked or treated people even my regular schedule. The physical environment and human beings change each other. When people come into a new environment that they have never been in, they will be affected, or changed physically, emotionally and mentally at different levels because people always have different reactions when they face different environments, and that is why they change. The physical environment can affect people emotionally because different environments can change people’s attitude about one specific thing or the point of view of the same situation. Dillard describes her journey in the jungle very specifically. After she reaches her destination, she realizes how peaceful and amazing that place is, â€Å"Each breath of night smelled sweet, more moistened and sweet than any kitchen, or garden, or cradle†(37). This quote shows she finds the jungle is much better than the place she used to live. Nothing can compare to the smell of nature, not even her expensive daily supplies because the environment she is currently living is cannot be replaced or faked. Nature calms her nerves and gives her time to reflect on her own life. During the vacation, she lets some little naà ¯ve girls play  with her hair, which is another thing that she never do before. â€Å"Later that night I loosed my hair from its braids and combed it smooth—not for myself, but so the village girls could play with it in the morning†(37) This is a symbol of her truly loose her pressure and face this world with another type of personality, which is who she really is, without any defense or pretending. â€Å"The Napo River: It is in the way, catching sunlight the way a cup catch poured water; it is a bowl of sweet air, a basin of greenness, and of grace, and it would seem, of peace† (40) From this essay, the mood of Dillard has some significant changes. She finds out that she is more peaceful inside. After she feels the calming environment of mother nature, she becomes more peaceful because the environment surrounding her changes, so her mood changes instantly too. The physical environment can affect people mentally because there are a lot of unexpected events that can change people’s attitude whether positive or negative. The essay â€Å"Our Animal Rites†, Quindlen mentions she starts to wonder if she took the bear’s home away from it after the encounter, and she cannot forget about this idea. â€Å"Sometimes I think it is because instead of feeling that the bear is trespassing on my property, in my heart I believe that I am trespassing on his†(33) Quindlen thinks she is the one who took land from the bear. This idea bothers her and cannot be eliminated easily, so she becomes suspicious and doubtful; she feels guilty about taking the bear’s territory even though deep inside she knows she had nothing with the whole situation. ‘Somewhere out there the bear is watching, picking his nits and teeth, breathing his raggedy bear breath, and if he could talk, maybe he’d say â€Å"I wonder they’re going back where they belong. (34) Quindlen humanizes the bear she encounters and exchanges the point of view with it to rethink the same situation from a different perspective. The physical environment also changes her mentally. People react differently when they face different environments or circumstances, and this change affects them mentally too. The physical environment can affect people physically too. Take me as example. Before I came to the U.S., I was an ordinary girl who went to school at 7 a.m. and was home at 5 and did all my homework on time, never  hanged out with my friends and did not know to put makeup on or fancy clothes due to requirements of my middle school. I did not listen to music that much because my teacher thought being a fan of some stars could have some negative effects on my grade. After I came here, I found out everything was totally different than I expected. Girls who were my age all have makeup and skinny jeans and nail polish to school. They had time to hang out with their friends after school instead of just going home and doing homework. They could also go out on Friday Night until midnight. That is something I could not even dream of. After a few months passed by, I started to get involved in school. I learnt the way they dressed, the way they talked and some places they would like to go to after class. I also started to learn how to put makeup on and abandoned all my old clothes for some new ones. It has been almost four years since I got here, and I think I am a completely different person now, not mentally, but physically because my parents and friends noticed the difference in different time periods which are when I was in China and when I am here right now. The environment can also affect people physically too. The physical environment can change people in various ways. The essay â€Å"In the Jungle† proves that the physical environment can affect people emotionally while â€Å"Our Animal Rites† shows how physical environment can affect people mentally. From my personal experience, the physical environment also change people physically too. Changing is like a double-edged sword. It can lead people to different paths. Some people lose themselves during the changing process while others can hold on the spirit of who they are and become better people.

`` Popular Mechanics `` By Raymond Carver - 1617 Words

Josaiah Thomas Professor Tittle ENGWR 303-104 6 July 2015 Essay #2 In the short story, â€Å"Popular Mechanics,† by Raymond Carver, starts with a short rise in action through the introduction of the characters, setting, and plot. The short story has a face paced touch, which moves quickly towards the climax and released the resolution right after. The short story was narrated in third person in order to reveal the actions and the dialogue between a man and a woman which expressed separation, struggle, miscommunication, and conflict between the couple. In the beginning of the short story there was already a sense of separation between the couple through how the husband or boyfriend is described as packing up his clothes because he plans on leaving the house. When the wife or girlfriend comes home, she realizes what is going on and feels pleased that he is leaving, however she is a bit aroused. It is important to show the physical distance between the couple because it expresses that they do not want to be together anymore. Once the man is ready to leave, a physical fight breaks lose about whether who takes custody of the baby. All throughout the short story, the narrator never states why the couple wants to separate and gives little detail about the couple. This allows the readers to become active in what they are reading by having the freedom to understand and develop their own opinions about what is going on throughout the short story. Carver uses ambiguity in order to keepShow MoreRelatedPopular Mechanics by Raymond Carver828 Words   |  4 PagesIn Popular Mechanics the author, Raymond Carver, uses painstaking details, numerous symbols, and an unusual title to convey the universal theme that not all relationships end happily. Carver uses all these things to his advantage. He brings out the theme of this depressing, but truthful story. Many couples these days experience the same thing that this one in particular went through. Early that day the weather turned and the snow was melting into dirty water. Ca rver starts off the story in thisRead MoreAnalysis Of Popular Mechanics By Raymond Carver1099 Words   |  5 PagesIn Popular Mechanics by Raymond Carver a man begins packing his things in a suitcase on a rainy day. His spouse barges into the room and begins to berate him. She moves to the dresser and picks up a picture of their baby and leaves the room. The man follows they begin fighting about who gets the baby. As the women holds tightly to the baby, the man backs her into the kitchen and begins grabbing the child. They both have a tight hold on the child now and are pulling backwards. The story concludesRead More Popular Mechanics by Raymond Carver Essay721 Words   |  3 PagesPopular Mechanics by Raymond Carver Works Cited Not Included Typically a story begins with an exposition, which introduces the characters, setting and plot. In the short story ?Popular Mechanics? by Raymond Carver, the exposition is excluded. The story begins with a short rise in action, moves quickly to the climax and totally omits the resolution. Carver uses third person objective narration to reveal the actions and the dialogue between a man and a woman. The narrator gives very littleRead MoreFigurative Language In Popular Mechanics By Raymond Carver888 Words   |  4 PagesIn Popular Mechanics by Raymond Carver, a contemptuous couple are driven out of rage to harm their only child. The story’s tone is that of resentment, aggression, and irony, which are constructed by the author’s deliberate choice of a third-person, unnamed narrator. Opening starkly with another nameless character, a male packing his suitcase, his spouse looks on from the other side of the room and continually rants that she’s glad her partner is leaving. Immediately, the reader can sense the physicalRead MoreAnalysis Of Raymond Carver s Popular Mechanics 1194 Words   |  5 PagesRaymond Carver’s very short story, â€Å"Popular Mechanics† is seemingly set on the east coast or somewhere that experiences cold, wintery weather. Early on it foreshadows the potential of something bad or sad happening as it is dark inside. The couple in the story seems to be experiencing a bit of disagreement as they are separating and the male character gathers his belongings in preparation to leave. Unfortunately, their child was placed in the midst of the split as it is with almost all divorces betweenRead MoreAnalysis Of Raymond Carver s Popular Mechanics1341 Words   |  6 Pagesinto a few bumps in the road. It seems like they only want sunshine and rainbows in a relationship and don’t want to endure the storms that may come along. People just have to hang in there and learn how work through their issues. In Raymond Carver’s â€Å"Popular Mechanics†, the social issue of communication in relationships is brought up. Communication is important in relationships because it is the key to success. Poor communication can bring up many issues in a relationship like unnecessary argumentsRead MorePopular Mechanics By Raymond Carver : Lesson Plan Of Questioning1628 Words   |  7 Pagesframe of mind. https://www.youtube.com/watch?v=C2fWZHaNugc Input- Teacher Directed Lesson (12.00 minutes) The teacher (Aide) will read a short story to explicitly communicate to the student the concept of questioning while reading Popular Mechanics by Raymond Carver ________________________________________ Early that day the weather turned and the snow was melting into dirty water. Streaks of it ran down from the little shoulder-high window that faced the backyard. Cars slushed by on the streetRead MoreAnalysis Of The Book Popular Mechanics Essay788 Words   |  4 PagesUnit 2 Written Assignment English 2 What is the title of the text and what is the text about? I have decided to review the short story, Popular Mechanics by Raymond Carver. The story is about a couple and their baby. The man is quietly packing his bags as the irate woman screams and curses at him. He seems to be attempting to ignore her until the bags are packed and the baby is brought into the occasion. The man never seems to get fierce until the very end when they are fighting over the babyRead MoreMorality Is Acceptable By Your Standards Or Not860 Words   |  4 Pageslessons, anything that makes us behave like an animal is forbidden. As a reader you have to understand the author’s morality through his or her writing so you can determine if the writer’s morality is acceptable by your standards or not. Raymond Carver is an amazing writer although I did not read all of his works, but he always leave the writer hanging at the end not knowing what is happening except for the actions which is a sad thing, also the way he writes about the ending is complicatedRead MoreEssay on Popular Mechanics Analysis: The Need for Good Communication778 Words   |  4 PagesIn many ways, communication is important in resolving problems, strengthening relationships, helping others, becoming proactive, and much much more. Raymond Carvers novel Popular Mechanics illustrates the intense need for good communication. The story starts out with the couple fighting and the wife kicking her husband out of the house. She is being rude and aggressive and is not using proper communication, trying to cover the fact that deep insi de she truly doesnt want him to leave. Then, the

Essay on The Benefits Of Medical Marijuana - 929 Words

The Benefits Of Medical Marijuana Are you sick of hearing your girlfriend nagging you about letting go of your pot pasttime? Have you been hearing a lot of negative things about the use of marijuana lately? Would you like to know what the real deal is behind the use of this infamous drug? Then read on because youre in for a surprise. One of the saddest things in North America is the lack of clinical trials on marijuana use. Many other countries in the world have already performed such tests in order to destroy myths about this drug, which has been in use for thousands of years... mainly for medicinal purposes. The data from previous studies, published in numerous books and scholarly journals, covered such matters as marijuanas†¦show more content†¦There is no evidence that marijuana use causes brain damage. Studies performed on actual human populations will confirm these results, even for chronic marijuana users (up to 18 joints per day) after many years of use. In fact, following the publication of two 1977 JAMA studies, the American Medical Association (AMA) officially announced its support for the decriminalization of marijuana. In reality, marijuana has the effect of slightly increasing alpha-wave activity in your brain. Alpha waves are generally associated with meditative and relaxed states, which are, in turn, often associated with human creativity Memory Marijuana does impair short-term memory, but only during intoxication. Although the authoritative studies on marijuana use seem to agree that there is no residual impairment following intoxication, persistent impairment of short-term memory has been noted in chronic marijuana smokers, up to 6 and 12 weeks following abstinence. What other myths have been going around about smoking a doobie? more marijuana myths Heart Problems It is accepted in medical circles today that marijuana use causes no evident long-term cardiovascular problems for normal persons. Marijuana smoking, however, does cause changes in the heart and bodys circulation characteristic of stress, whichShow MoreRelatedMedical Benefits Of Medical Marijuana1161 Words   |  5 Pagessurrounding the issue of whether medical marijuana ought to be legally sanctioned as a medicinal treatment. Medical marijuana involves the use of cannabis and its constituent’s cannabinoids in order to treat a disease or its symptoms (National Institute on Drug Abuse 2015). Numerous studies led declare the drug a miracle treatment for a variety of medical issues. These studies, however, are limited and effectively challenged by different studies that exhibit the health risks marijuana can have on the humanRead MoreMedical Benefits Of Medical Marijuana1255 Words   |  6 PagesMedical marijuana has been proven to an effective drug in the treatment of a number of encumbering medical conditions. A large number of legitimate medical organizations recognize the benefits of marijuana. It is far less harmful and poses fewer negative side effects than many prescription drugs, including painkillers - and patients often find it to be a more effective treatment for a variety of illnesses. However, it is perhaps the most commonly misunderstood substance in America. The usage of theRead MoreThe Benefits Of Medical Marijuana1598 Words   |  7 PagesThe Benefits Medical Marijuana By: Nicole Wynne Advance Placement Psychology Mr. Cuetara June 4th, 2015 Marijuana Outline I) Intro: a.) History and facts that make up marijuana b.) Thesis: Through numerous articles, books, documentaries, and journals, I have concluded that marijuana has positive creative effects and numerous medical ben-efits, including increased appetite, pain reduction, nausea reduction, and hard drug substitution II) Positive Medical Benefits:Read MoreThe Benefits of Medical Marijuana729 Words   |  3 PagesMedical marijuana has been used for centuries to combat pain, weakness, anxiety, insomnia, female problems and nausea. Today it is commonly used by cancer and AIDS patients to stimulate hunger, combat nausea and vomiting induced by chemotherapy or other drug therapy and reduce pain. It has also been shown to be effective in reducing eye pressure, especially in the cases with glaucoma. Medical marijuana, or cannabis, is derived from the Cannabis sativa plant and there is some evidence of cannabisRead MoreMedical Marijuana And Its Benefits2240 Words   |  9 Pages1 MEDICAL MARIJUANA Medical Marijuana and Its Benefits Steffany Brinker University of Maryland University College Abstract Medical marijuana, also known as cannabis, is a controversial topic because many find it beneficial as others find the usage to be recreational. Throughout the years, medical marijuana has gone through periods of times in which it was legal and illegal. Over the years laws have been developed in order to try and regulate the usage of the drug. Studies have shownRead MoreThe Benefits Of Medical Marijuana Essay2136 Words   |  9 PagesI will discuss the many benefits of medical marijuana, and how a substance that is labeled as an illegal drug can have just as many health benefits as the strongest of medicine. With marijuana becoming more accessible being legalized for medical and/or recreational use in 7 states, I will explain how if used properly can help many people suffering with serious problems like muscle pain, depression, anorexia insomnia and PTSD. But still there is the stereotype that marijuana is a dangerous recreationalRead MoreBenefits of Medical Marijuana Essay990 Words   |  4 Pages Legalizing Marijuana Marijuana is a very controversial and obtrusive issue in our society today. Although many have made malicious remarks about it in the past, and even still in the present, the truth and beneficial facts of marijuana are finally resurfacing. Unfortunately, our society has become a very critical crowd towards the legalization of marijuana due to the stereotypical view of the kind of people who are considered â€Å"pot smokers†. This contorted perception of a lazy and unmotivated AmericaRead More The Benefits of Medical Marijuana Essay1130 Words   |  5 Pageseffects than its other legal counterparts such as alcohol and tobacco. This kind of information calls into sharper focus the question on the minds of many as to why such a plant that is not only less harmful than legal drugs but has significant health benefits has remained illegal. People all over the world, continue to be tendered prescription medication, which in many cases further complicate health issues with its myriad of side effects. In fact, statistics have shown that approximately 100,000Read MoreThe Benefits Of Medical And Recreational Marijuana1740 Words   |  7 PagesPark Hegeler The Benefits of Marijuana The question of whether or not to legalize the medicinal and recreational use of marijuana has been an ongoing debate ever since President Nixon declared the war on drugs in 1971. The main question that circulates this debate is, do the benefits of medical and recreational marijuana justify its legality? Marijuana is one of the only drugs that has numerous medicinal properties that can do everything from managing chemotherapy side effects, to putting anRead MoreBenefits and Hazards of Medical Marijuana1034 Words   |  5 Pagesknow how to control or don’t have control over marijuana the weed program the development of the biological control of marijuana program/system, an advisory group was established at the request of biological control researchers who were seeking. It legalizing the use of marijuana as a social catalyst and as a tool with which prior physicians can know about the marijuana controversy, what are the benefits and hazards of medical marijuana? Marijuana is the worst thing you can ever get involve in,

School Voucher Program Should Be Abolished - 1727 Words

I propose a school voucher program that would be widespread throughout the state of Connecticut with special consideration to the Hartford school district. Each student in the state will receive a voucher equivalent to 65 percent of the per-pupil cost of the public school in their district. The remaining 35 percent of spending would remain with the school to pay for fixed-costs (with a few exceptions). School who take in out of district would receive the money that follows the child. For example, a Ellington student would receive a voucher of about $4,982 (65 percent of per-pupil spending) and that child could spend that money on any participating public or non-religious private school in the state. Schools have the choice to participate in the program. However, if public schools choose not to participate then state funding will be reduced and reallocated to participating schools. However, a few school districts are exceptions. I recommend abolished traditional public schools in Hart ford, East Hartford, Bloomfield, and Manchester. The current performance of students is unacceptable in those district that have high minority and poverty levels. You should close the public schools and instead allow private, magnet, and charter schools take control over the district. You should carefully select which schools are allowed in the district to ensure diversity in educational opportunities. Some schools should target students in specific categories like math, science, and the arts;Show MoreRelatedTitles995 Words   |  4 Pagesis a problem on university campuses America could start using year round school People should have green burial Non-essential plastic surgery should be illegal for children under 18 Parents should be informed if their child is given birth control It has been said that Americas biggest export is pop culture. Is Hollywood a good ambassador for America? Should public schools provide more classes and internship programs for students who choose not to go to college? Are college entrance examsRead MoreA New Millennium1846 Words   |  8 Pagesthe American nation has become more secure. With this reduction we have rekindled the belief in the American dream. Economic prosperity and sound moral and family values have begun to be reinstated in all arenas of American life. We believe there should be less government intrusion in the lives of Americans because only the American people can decide what is best for them. We stand for a rollback of federal government paternalism and intervention and instead call for an increased roll of the individualRead More Student Republican Party Platform Essay3390 Words   |  14 PagesAmerican nation has become more secure. With this reduction we have rekindled the belief in the American dream. Economic prosperity and sound moral and family values have begun to be reinstated in all arenas of American life. We believe there should be less government intrusion in the lives of Americans because only the American people can decide what is best for them. We stand for a rollback of federal government paternalism and intervention and instead call for an increased roll of the individualRead More Welfare For Children of Illegal Immigrants Essay4110 Words   |  17 Pagesin the U.S. New immigrants to our country are not a scourge as some politicians claim. In fact, they can help solve many of our economic and social problems. Therefore when a child is born of illegal parents, the child should not be refused welfare. In other words, the child should not be treated as a second class citizen. In fact since it was born in the United States, he or she is to be considered a United States citizen because that is exactly what he or she is. Although it is believed thatRead MorePhilippine Social and Political Issues3235 Words   |  13 PagesPHILIPPINES SOCIAL POLITICAL ISSUES 1. POPULATION – RH BILL 2. DEATH PENALTY 3. LEGALIZING DIVORCE IN THE PHILIPPINES 4. PLAN TO ADD 2 MORE YEARS TO BASIC EDUCATION 5. POVERTY 6. ECONOMIC DEBT 7. CORRUPTION 8. INADEQUATE SCHOOL FACILITIES 9. HIT BY FISH KILL 10. TERRORISM 11. THE LIFE OF STREET CHILDREN 12. HUMAN TRAFFICKING POPULATION – RH BILL The  Reproductive Health bills, popularly known as the  RH bill, are Philippine  bills  aiming to guaranteeRead MorePracticum Report4846 Words   |  20 Pagescomputer works. Most especially to my beloved parents whom with all their bestfaces,  the  hardship of  working  hard just  for  me to  educate,  thisexample of my success is a great chance that I will step the victory of  my life. We should keep up the good work  and thereafter when I should be pursuing my respective endeavor profession and occupation in the year ahead.   Magallanes Drive, Intramuros, Manila Philippines +632 527-3248 http://immigration.govRead MoreIntroduction to Large Scale Organizations18988 Words   |  76 Pages scandals, working conditions, sweat shop labour -Many LSO s promote themselves as being green friendly -Vital as organisations cannot afford entire the infrastructure to train employees capable of driving an organisations objectives -Depend on schools, universities, educational institutions to provide technological and academical skills for future employee s -Drive change at a global level, key to business success -Failure or limitation in using technology can be a competitive disadvantage -ERead MoreThe Rise of China and Future of the West17670 Words   |  71 Pagesother hand, there is an hidden challenge: What should we produce in the future? Presently, China is a blessing for the consumers. However, if current trends were going on, we could export wine, antiques and tourism and import all the machinery and technology from China. Clearly the free trade theory ought to be revisite d! 3-Does a risk of conflict exist? In our opinion the answer is no, with a reservation about North Korea. The US-China relations should remain peaceful. The Taiwan-China conflict couldRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pageswritten permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions. 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Role of Inventories and Speculative Trading

Question: Discuss about the Role of Inventories and Speculative Trading. Answer: According to the statistical data it has been seen there, the price of crude oil was low and by the end of the year, there has been a further decline in the price of crude oil. The primary blame could be given to the basic demand and supply of the economy. There has been a steep decrease in the demand for crude oil especially in the European and Asian market. The reasons for the price fall are as follow: Increase in Supply: There has been an increase in the production of Shale oil in U.S. At the same time, OPEC continued to produce the same quantity of crude oil in the market even after the initial decline in the price at the beginning of the year. Nuclear Pact: After the Irans nuclear deal took place between the global powers and Iran, there has been a prediction of over-supply of oil. This prediction in turn led to the decline of oil price. According to the data on oil price of the past 6 month of 2015 it has been observed that there has been an increase in the demand by only 2% where as the price decreased by 30%. This data on demand and supply can be used to find out the price elasticity of the commodity. The price elasticity shows the responsiveness of a commodity with respect to change in the price of that commodity. Price Elasticity = = (2/30) = (1/15) = 0.067 approximately. Here, the price elasticity of oil is much lesser than unity, which implies that crude oil is inelastic in nature. This means that the changes in price have minimum or negligible impact on the quantity of oil demanded. No, the price-elasticity of the demand and the write up of Source 1 are not in consistency to one another. According to the result obtained by the price-elasticity, it is seen that crude oil is inelastic in nature. This means that the change in price of oil is not going to have any significant impact on the quantity of oil produced in the global market. ON other hand according to the Source 1, it has been seen that the warning posed by Saudi-Arabias oil minister during 1980s came true. He warned that with an increase in the oil price there is going to be a decrease in the consumption of oil. In reality, consumers did react to oil price by reducing the consumption of oil. They increased the insulation of their home, started using energy efficient technologies and automobiles. Hence, the change in oil price showed changes in its consumption by the global customers. According to the above answer, it is seen that prices of oil do have an influence on the quantity demanded by the people. Hence, according to my view the oil producer should revise their oil price and production of crude oil. It has been shown in the diagram below: During the year 2015, there has been a decrease in price of oil and an excess supply of it. The initial supply curve is at S0. At this point, the price of oil is very low while quantity supplied Q0 is remains un-used in market. Hence, by reducing the quantity supplied an upward pressure can be created on oil price. Similarly, if there is a hike in the price of oil, it can be equilibrated by increasing the supply in the global market through various producers. OPEC after passing through several major business swings and few major problems with their oil price ultimately decided on reducing their quantity of production on 3rd December 2016. Due to decision to reduce the production of oil the organization expects to influence and increase the global oil price which has been declining for a long time. According to an article published in Forbes, the organization expects to see an increase I the price of crude oil due to the reduction in production. The reduction in the level of inventory is expected to create an upward thrust in the price of crude oil (www.forbes.com 2017). On other hand, this decision to reduce production has positive impact on other oil producers like Bruent. Bibliography: Alquist, R. and Gervais, O., 2013. Crude Oil.The Energy Journal,34(3). Badel, A. and McGillicuddy, J., 2015. Oil Prices: Is Supply or Demand Behind the Slump?.Economic Synopses,2015. Forbes.com. (2017). Forbes Welcome. [online] Available at: https://www.forbes.com/sites/arthurberman/2017/01/09/the-opec-oil-production-cut-another-year-of-lower-oil-prices/#57535d224073 [Accessed 18 Jan. 2017]. Kilian, L. and Murphy, D.P., 2014. The role of inventories and speculative trading in the global market for crude oil.Journal of Applied Econometrics,29(3), pp.454-478. William, J. (2014). History and Analysis -Crude Oil Prices. [online] Wtrg.com. Available at: https://www.wtrg.com/prices.htm [Accessed 18 Jan. 2017].