Explaining Cinema Tickets Price Differences Essay - 1

Explaining Cinema Tickets Price Differences - Essay Example The economic principle is known as the Price Elasticity of Demand, which is â€Å"a measure of how much the quantity demanded of a good responds to a change in the price of that good.† (Mankiw, p. 90). In simple equation form: This principle can be further characterized in two ways. First, student and senior demand for cinema tickets is considered elastic because a change in ticket price has a measurable impact on the quantity demanded. (If there was little or no change in demand in response to a change in price, demand would be termed inelastic.) Also, because in the cinema situation the numerator of the equation is greater than the denominator, the absolute price elasticity of demand must be greater than 1. (If the numerator were larger than the denominator, the absolute price elasticity of demand would be less than 1.) There may be several economic-based reasons why students and seniors are highly responsive to cinema pricing. For most people, going to the cinema typically would be considered an optional, not a necessary, activity. So in deciding whether to allocate some of their income to attending the cinema most people are more likely to respond to lower prices. Also, many movies eventually are offered on television and DVD, so in deciding whether to allocated some of their income to attending the cinema, most people are more likely to respond to lower prices because they are not risking never seeing the particular movie. Moreover, compared to the average adult, students and seniors are viewed as having less income and so would be more sensitive than most people to each of the above factors and thus more likely to spend if ticket prices are lower.

Sould the Soviet Union Be Regarded As a Socialist, Communist or Essay

Sould the Soviet Union Be Regarded As a Socialist, Communist or Totalitarian State - Essay Example This paper will discuss whether the Soviet Union should be regarded as a socialist, communist or a totalitarian state. Socialist State A socialist state is a state that practices economics under which productive properties such as corporations are wholly owned by the state. It is the state that determines everything that takes place in these companies. In this regard, in a socialist state, the economic systems consist of well organized production which directly satisfies the economic requirements and needs of the people so that the products and services would then be produced for consumption instead of for individual profit. In a socialist state, the political system is composed of many arrays of political philosophies. These include revolutionary socialism and reformism (Gonner 2010). Communist state A communist state is one in which the government is in charge of the overall economy of the state. Under this system of government, a single party dominates the political system. It dif fers from the socialist state in that with the communist state, people in common have control over property. The communist state is based on a system that everybody irrespective of place, class or country has the power to own factories, tools and farms used in the production of goods and services. Therefore, there is no private ownership of property in the communist state. ... This is evident in counties like France, Italy and India (Pipes 1997). Totalitarian State A totalitarian state is that system of government under which the government recognizes no limit to its jurisdictions, and tends to dictate every aspect of private and public life. Totalitarian states maintain political control through propaganda campaigns which in most cases spread through the state controlled media (Adler and Pouwels 2011 p.576). It is a single party rule marked by control over the economy, political repression and personality cultism. This system of government restricts freedom of expression, practices mass surveillance, and usually unleashes terror to intimidate those who are opposed to the powers that be. This system has been seen in Italy, and Nazi German. Adler and Pouwels (2011 p.575) note that the ideology in totalitarian states is distinctive, mobilizing, and monolithic in nature. Another feature prominent in this kind of system is state control of the overall economy done through preponderance of government ownership of the means of production. The Form of Government in the Soviet Union Harding, Political Studies Association of the United Kingdom, and the Communist Politics Group (1984 p.63) note that in the Soviet Union, institutional rivalry was prevalent. In this case, state institutions and some political parties had common interests which, sometimes, differing from those of other parties and state institutions. Localism and departmentalism existed within the governance structure (Harding, Political studies association of the United Kingdom and the Communist Politics Group 1984 p.63). Convert competition for political office done on the basis of cabinet politics was also prominent in the system. Harding, Political Studies Association of