Risk assessment Essay Example | Topics and Well Written Essays - 2750 words

Risk assessment - Essay Example A risk based approach has been adopted for the development of a system for managing health, safety, and environmental risks. The system has been developed by benchmarking the system against international standards such as the ISO 2001. The components of the system include general requirements, SHE policy, planning, implementation and operation, measurement analysis and improvement, and management review. This section includes resources, roles, responsibility and authority. Competence, training and awareness have been addressed. Documentation, control of documents, operational control, and emergency preparedness and response have also been included. Probabilistic Risk Assessment (PRA) is an analytical method used to protect health and safety. The goal of PRA is to develop a method to predict concerns before they manifest in terms of loss, injury, or fatality. The calculation of risk involves mathematical representation and building model. Risk is related to the concept of safety, danger, hazard, loss, injury, death, toxicity, or peril. Risk is defined as , where ci is the consequence, and pi is the probability. Risk is expressed in terms of , average loss of life expectancy, or fatalities per 100000 persons per year (Ragheb, 2009). HSE (2007) has outlined five steps for the assessment of risks in the workplace. These include the identification of hazards; decision on who might be harmed and how; evaluation of risks and decision on precautions; recording of findings and implementation; and review of assessment and update as necessary. Sustainability in manufacturing includes product sustainability assessment, product design for sustainability, lifecycle issues in product design and manufacture, and product manufacture for societal impact. Product design and manufacture for societal impact includes personnel health, operational safety, security of personnel and systems, and work ethics. Manufacturing process should include environmentally conscious

Kerala Essay Example for Free

Kerala Essay Kerala, the ‘God’s Own Country’, lies in the extreme Southern part of India. It has an area of 38863 sq. km and a population of 3. 18 crores. Kochi, or more familiarly, Cochin is a city of many parts. Around for a long, long time, Kochi played a pivotal role in the development of shipping and trade in the region. Kochis prime location on the west coast, its fine bay and protected harbor made it popular with seafarers and merchant ships who made frequent stops to stock up on spices, coffee and wood enroute to the rich markets of Europe and West Asia. And so down the ages, Kochi prospered as a busy port city and commercial centre. Its seafront is still extremely relevant to Cochin and to India: it houses a Naval Base and one of India’s busiest ports. It’s twin city, Ernakulam, is an important railhead and industrial centre. Kerala – God’s own Country tagline has been used because of its location, landscaping and its surroundings. It is the amalgamation of lush and tropical Malabar Coast on the west along with verdant backwaters in the centre ranging from Cochin to Kollam and Nilgiri mountain range covered with tea plantations in the east. Kerala The God’s own country Kerala, meaning â€Å"land of coconut trees†, is one of the relatively well kept secrets of all the exotic destinations in the world. However, Kerala’s popularity has increased over recent years. National Geographic† travel magazine lists Kerala among the fifty must see locations in the world. Not surpirisingly, the State Tourism Department promotes Kerala’s natural beauty, breathtaking lush landscape and tropical beaches as â€Å"God’s own country†. The result has been a signifiant influx of tourists and foreign visitors. The Sanskrit saying â€Å"athithi devo bhava†( treat your guest like God, with respect and honour) is ingrained in the collective ethos of the people of Kerala.

The Welfare Effects Of A Government Policy Economics Essay

The Welfare Effects Of A Government Policy Economics Essay For the purpose of this paper demand and supply analysis is used to show how it can be applied to a wide variety of economic problems. In the first section consumer and producer surplus is better defined and explained to understand the welfare effects of a government policy. In other words, consumer and producer surplus can evaluate who gains and who loses from a given policy, and also by how much. Also note that these two concepts of surplus can also be used to demonstrate the efficiency of a competitive market. In the sections to follow minimum prices, price supports, and related policies will be discussed in more detail. To assist the theory, demand-supply analysis will be used to understand and assess these policies. Consumer and Producer Surplus To understand consumer and producer surplus better the principles of price ceilings and floors will be discussed. As opposed to price floors, a government-imposed price ceiling means that the price is set at a lower level than the price in the prevailing market. Likewise, price ceilings will cause the quantity of a good demanded to rise. This happens because at lower prices consumers want to buy more. On the other hand, the quantity supplied will fall because producers are not willing to supply as much at lower prices. As a result of this a shortage will occur, which also indicates excess demand. Note that those consumers who can still buy the good will be better off because they now pay less. However, supply will fall, forcing producers to provide less of their goods. The following section provides a more detailed explanation of the welfare gained or lost by both consumers and producers, should certain prices be imposed. For the purpose of this section the assumption follows that consumers and producers buy and sell at the prevailing market price in an unregulated, competitive market. However, for some consumers the value of the good in question exceeds the prevailing market price. This also means that the consumer would be willing to pay more for the good if it was expected. Therefore, consumer surplus is the total benefit that consumers receive beyond what they pay for the good (Pindyck and Rubinfeld, 2005:300). For example if the market price of a product is R7, but the consumer is willing to pay R10 for it, then his net benefit will be R3. Consumer surplus can also be explained with the assistance of demand and supply curves. In this respect consumer surplus can be interpreted as the area between the demand curve and the market price. Pindyck and Rubinfeld (2005:300) also states that consumer surplus measures the net benefit to consumers in the aggregate, therefore, this analysis can be used to better understand the gains or losses induced from government interventions. On the other hand, producer surplus is the equivalent measure for producers (Pindyck and Rubinfeld, 2005:301). If goods were to be produced at a price lower than the market price, then more could be produced. Therefore, producers will enjoy a benefit, or rather a surplus, from selling those units. This surplus is the difference between the market price the producer receives and the marginal cost of producing the units. It can also be better explained as the area above the supply curve up to the market price. Essentially consumer and producer surplus is used for economic analysis to evaluate the welfare effects of a government intervention in the market. It assists with anticipating who will gain or lose from the intervention, and also by how much. To do so the concepts of price ceilings and price floors will be explained in more detail. Price Ceilings Price ceilings occur when production (supply) is decreased and the quantity demanded is increased (Pindyck and Rubinfeld, 2005:301). Price ceilings tend to cause excess demand, or rather shortages, to occur. Figure 1: Graphical Presentation of a Price Ceiling The following section provides a theoretical explanation of Figure 1 and the effects of price ceilings on consumers and producers respectively: Consumer Surplus (Pindyck and Rubinfeld, 2005:302; and Perloff, 2005:274, 296, 297): Consumers are better off as they can buy the good at a lower price. Thus, the consumers that still buy the good enjoy an increase in consumer surplus, which is resembled by rectangle A. On the other, those consumers who can no longer buy the good lose surplus. Their loss is represented by triangle B. Therefore, the net change in consumer surplus which is a positive result is: à ¢Ã‹â€ Ã¢â‚¬  CS = A B Producer Surplus (Pindyck and Rubinfeld, 2005:303; and Perloff, 2005:278, 280, 297): With price controls, some producers will stay in the market but will receive a lower price for their output. Thus, they have lost the producer surplus represented by rectangle A. Other producers may however leave the market. This means that total production will also drop, which is represented by triangle C. Therefore, the change in producer surplus, which is a negative result, is: à ¢Ã‹â€ Ã¢â‚¬  PS = (-A) C Deadweight Loss (Pindyck and Rubinfeld, 2005:304; and Perloff, 2005:280, 281): Price controls will result in a net loss, which is also referred to as deadweight loss. Therefore, combining the change in both consumer and producer surplus will bring along a total change in surplus as follows: Deadweight Loss = (A B) + [(-A) -C] = (-B) C In essence, deadweight loss results in an inefficiency caused by price controls. In summation, a price ceiling is that price held below the prevailing market price. It merely means that too little is produced and, at the same time, that consumers and producers in the aggregate are worse off (Pindyck and Rubinfeld, 2005:306; and Mohr, 2004:162, 163). Price Floors In contrast to price ceilings, price floors indicate what happens when government requires for the price to be above the market price. Although producers would like to produce more at this higher price (indicated on the supply curve at P2) consumers will now buy less. If we assume that producers only produce what can be sold, then the market output level will be at Q1. Once again there is a noted net loss of total surplus (Pindyck and Rubinfeld, 2005:306, and Perloff, 2005:293): Triangles B (a loss of consumer surplus) and C (a loss of producer surplus) represents the deadweight loss. Rectangle D represents the transfer from consumers to producers, who now receive a higher price. Figure 2: Graphical Presentation of a Price Floor In fact, the deadweight loss gives an optimistic assessment of the efficiency cost of policies. The reason for this assumption is that some producers may still however increase prices after the price floor have been incorporated. This would, in turn, result in unsold output. However, should the producer receive more importance with regard to applicable policies, then government might buy up the unsold output to maintain production at Q0. In both cases, the total welfare loss will exceed the areas of triangles B and C (Pindyck and Rubinfeld, 2005:307). The Efficiency of a Competitive Market As discussed already, consumer and producer surplus can be used to evaluate economic efficiency in the aggregate. In the previous section it was shown how price controls create a deadweight loss. Thus, the policy imposes an efficiency cost on the economy (Pindyck and Rubinfeld, 2005:306). Both consumer and producer surplus are reduced by the amount of the deadweight loss. This does not mean that such a policy is bad. It may however achieve other objectives that policymakers and the public consider important. Many researchers argue that if the only objective is to achieve economic efficiency, then a competitive market would be better left alone. This means that no interventions should occur. However, in some cases market failure will occur because prices fail to provide the proper signals to consumers and producers. Also, the unregulated, competitive market could be inefficient. These indications of market failure may occur because of two instances (Pindyck and Rubinfeld, 2005:306): Externalities: Sometimes the actions of either consumers or producers will result in a cost/benefit that does not show up as part of the market price. Such a cost/benefit can also be referred to as externalities because they are external to the market. An example of this is the cost to society of environmental pollution by a producer of industrial chemicals. Lack of Information: When consumers lack information about the quality or nature of a product and can therefore not make a utility-maximising purchasing decision. If these two instances (externalities and/or the lack of information) are absent in a market then that unregulated, competitive market will essentially have no obstacles, and an economically efficient output level can be reached. Minimum Prices For the purpose of this section we will refer back to Figure 2. From the graph we can see that if producers can correctly anticipate that they can sell only the lower quantity Q1, then the net welfare will be given by triangles B and C. However, as mentioned before, producers may not limit their output to Q1. Incorporating Figure 2 to illustrate minimum prices, the following notations has to be made (Pindyck and Rubinfeld, 2005:310): P2 denotes a minimum price set by the government. Q2 denotes the quantity supplied, and Q1 denotes the quantity demanded. The difference between Q1 and Q2 represents excess supply, or rather, unsold supply. Therefore, Consumer Surplus (Pindyck and Rubinfeld, 2005:310): Those consumers who still purchase the good must now pay a higher price (Rectangle D). Some consumers will also drop out of the market (Triangle B). Therefore, consumer surplus remains the same as before and indicates that consumers are actually worse off as a result of this policy: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B Producer Surplus (Pindyck and Rubinfeld, 2005:311): Producers, on the other hand, receive a higher price for the units they sell, which results in an increase of surplus (Rectangle D). Rectangle D can also be better described as the transfer of funds between consumers and producers. But, the drop in sales from Q0 to Q1 actually results in a loss of surplus which is represented by triangle C. Also remember that the supply curve is a representation of the additional cost of producing each incremental unit. Thus, the area under the supply curve from Q1 to Q2 is the cost of producing quantity Q2 less Q1. This area is represented by trapezoid E. Unless producers respond to unsold output by cutting production, the total change in producer surplus will be: à ¢Ã‹â€ Ã¢â‚¬  PS = D C E Minimum prices is merely one of the ways to raise prices above the prevailing market level through the direct intervention and regulation of the government simply make it illegal to charge a price lower than a specific minimum level. As a result, this form of government intervention can reduce producers profits because of the cost of excess production. Another example of this is a minimum wage law. In other words, a wage rate at a level higher than the market price will result in those workers who can find jobs and earn a higher payoff. However, some people who want to work will be unable to, which will result in a policy that brings about unemployment (Pindyck and Rubinfeld, 2005:311). Price Supports and Production Quotas Besides imposing a minimum price, the government can also increase the price of a good in other ways. In agricultural policy the system is mostly based on price supports, but prices can also be increased by restricting production, either directly or through incentives to producers (Pindyck and Rubinfeld, 2005:314). In this section these policies will be examined in more detail as to show how consumers, producers and the government budget are affected. Price Supports: In general, price supports aim to increase the prices of dairy products, tobacco, peanuts, etc. This is done with the intention that the producers of these types of products earn higher incomes. This basically entails that the government sets the supporting price and then buys up whatever output is needed to keep the market price at this level. The resulting gains/losses will be as follows: Figure 3: Government Price Supports Consumers Surplus (Pindyck and Rubinfeld, 2005:315): At price P2, the quantity demanded falls to Q1, and the quantity supplied increases to Q2. To maintain this price and avoid inventories having to pile up, the government must buy the quantity Qg = Q2 Q1. Because the government adds its demand to the demand of the consumers, producers can sell all they want at price P2. Therefore, the consumer surplus will be calculated in the same way as with minimum prices: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B Producers Surplus (Pindyck and Rubinfeld, 2005:315): Price support policies are implemented with the intention to increase the gains that producers receive because producers are now selling a higher quantity (Q2) at a higher price (P2). Therefore producer surplus will be as follows: à ¢Ã‹â€ Ã¢â‚¬  PS = D + B + F Government Welfare (Pindyck and Rubinfeld, 2005:315): However, there is also a cost to government, which in essence is paid for by taxes. Thus, ultimately this is actually a cost indirectly related to consumers. This amount is represented by the rectangle that makes up BCEFG. This cost may be reduced if the government can dump some of its purchases, for example, selling them abroad at a low price. However, doing so hurts the ability of the domestic market to sell in foreign markets. The total welfare cost of this policy could be defined as: à ¢Ã‹â€ Ã¢â‚¬  CS + à ¢Ã‹â€ Ã¢â‚¬  PS Cost to Gov = D (Q2 Q1)P2 If the objective is to give producers an additional income equal to D + B + F, it is far less costly to society if government were to give them this money directly rather than via price supports. This can be supported by the fact that price supports are costing consumers D + B anyway. If government pay producers directly, then society will save the large rectangular area BCEFG less triangle F (Pindyck and Rubinfeld, 2005:316). However, price supports are in use most likely because they are a less obvious giveaway and, therefore, politically more correct. Production Quotas: The government can also cause the price of a good to rise by reducing supply. Government can do this by setting quotas on how much each firm can produce. With appropriate quotas, the price can then be forced up to any arbitrary level. An example of this could be the control of liquor licenses by the government. By requiring any bar or restaurant to have a liquor license and, at the same time limiting the number of licenses, will result in limited entrants into that market. This also allows those with licenses to earn higher prices and profit margins. The welfare effects of production quotas will be explained in the following section (Pindyck and Rubinfeld, 2005:317): The government restricts the quantity supplied to Q1, rather than at the market level of Q0. Thus the supply curve becomes the vertical line S at Q1. As a result consumer surplus is reduced by rectangle D plus triangle B. On the other hand, producers gain rectangle D less triangle C. Thus, once again, there is a deadweight loss that occurs which is represented by B + C: à ¢Ã‹â€ Ã¢â‚¬  CS = (-D) B à ¢Ã‹â€ Ã¢â‚¬  PS = D C + (Payments for not producing) However, the cost to the government is a payment sufficient enough to give producers an incentive to reduce output to Q1. That incentive must be at least as large as (B + C + F), because that area represents the additional profit that could have been made if the quota was not applicable. Also remember that the higher price (P2) give producers incentive to produce more even though the government is trying to get them to produce less. Thus, the cost to government is at least B + C + F and the total change in producer surplus is: à ¢Ã‹â€ Ã¢â‚¬  PS = D C + B + C + F = D + B + F à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-D) B + D + B + F B C F = (-B) C Figure 4: Supply Restrictions via Production Quotas This is the same change in producer surplus as with price supports therefore, producers should in essence be indifferent between the two policies because they end up gaining the same amount of money from each. Likewise, consumers end up losing the same amount of money (Pindyck and Rubinfeld, 2005:318). It can also be noted that, once again, the society will clearly be better off in efficiency terms if the government simply gave the producers (generally in the agricultural sector) D + B + C, leaving price and output alone. Producers would then gain D + B + C and the government would lose this profit for a total welfare change of zero, instead of a loss of B + C. However, economic efficiency is not always the objective of government policy. Import Quotas and Tariffs Many countries use import quotas and tariffs to keep the domestic price of a product above world levels and thereby enable the domestic industry to enjoy higher profits than it would under free trade. However, the cost to taxpayers from this protection can be relatively high. Without a quota or tariff, a country will import a good when its price is below the price that would prevail domestically, were there no imports (Pindyck and Rubinfeld, 2005:321, 322; and Perloff, 2005:298, 299). Figure 5: The Affect of an Import Tariff/Quota on Imports S and D represent the domestic supply and demand. Because the world price (P1) is below domestic demand and supply, it gives domestic consumers an incentive to purchase from abroad if imports are not restricted. If that is the case then domestic price will fall to the world price at P1. At a lower price, domestic production will fall to Q1 and consumption will rise to Q2. So imports will be the difference between domestic consumption and production (Q2 Q1). Now suppose the government, bowing to pressure from the domestic industry, eliminates imports by imposing a quota or a tariff at Q0. This will forbid any importation of the good in question. With no imports allowed the domestic price will rise to P0. Consumer Surplus: As a result, consumers who still purchase the good will now pay a higher price and will lose the surplus represented by trapezoid A and triangle B. In addition, some consumers will no longer buy the good which results in a further loss represented by triangle C. Therefore, the total change in consumer surplus will be: à ¢Ã‹â€ Ã¢â‚¬  CS = (-A) B C Producer Surplus: In concern with producers, output is now higher (Q0 instead of Q1). Output is also sold at a higher price (P0 instead of P1). Producer surplus therefore increases by the amount of trapezoid A: à ¢Ã‹â€ Ã¢â‚¬  PS = A à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-B) C Combining both à ¢Ã‹â€ Ã¢â‚¬  CS and à ¢Ã‹â€ Ã¢â‚¬  PS to obtain the total welfare effect merely indicates once again that there is a deadweight loss. This loss indicates that consumers lose more than what producers gain. Imports could also be reduced to zero by imposing a sufficiently large tariff. The tariff would have to be equal to or greater than the difference between P0 and P1. With a tariff of this size there will be no imports and, therefore, no government revenue from tariff collections. Thus, the effect on consumers and producers would be the same as with a quota (Pindyck and Rubinfeld, 2005:323). However, government policy is more often designed to reduce, but not eliminate, imports (as shown in Figure 6. Again, this can be done with either a tariff or a quota (Pindyck and Rubinfeld, 2005:323; and Perloff, 2005:300, 301): When imports are reduced, the domestic price is increased from P1 to P0. Trapezoid A is again the gain to domestic producers. The loss to consumers is A + B + C + D. Thus, if a tariff is used, the government will gain rectangle D, the revenue from the tariff. Therefore, the net domestic loss will be B + C. If a quota is used instead, then rectangle D becomes part of the profits of foreign producers, and the net domestic loss will be B + C + D. Figure 6: The General Case with an Import Tariff or Quota The Impact of a Tax or Subsidy The burden of a tax (or the benefit of a subsidy) falls partly on the consumer and partly on the producer. In this section it will become clear that the share of a tax accepted by consumers depends on the shapes of the demand and supply curves and, in particular, on the relative elasticities of demand and supply (Pindyck and Rubinfeld, 2005:326). The Effects of a Specific Tax A specific tax can be better defined as a tax of a certain amount of money per unit sold. This is in contrast to an ad valorem tax which is a proportional tax. However, the analysis of an ad valorem tax is roughly the same and yields the same qualitative results (Pindyck and Rubinfeld, 2005:326). Examples of specific taxes are sin taxes on cigarettes and liquor. Suppose the government imposes a tax of t cents per unit. This means that the price the buyer pays must exceed the price the seller receives by t cents. Figure 7 illustrates this accounting relationship and its implications (Pindyck and Rubinfeld, 2005:326): Figure 7: The Effects of a Specific Tax Here, P0 and Q0 represent the price and quantity before the tax is imposed. Pd is the price that buyers pay and Ps is the price that sellers receive after the tax is imposed. Therefore, Pd Ps = t. Here the burden of a tax is split evenly between buyers and sellers. Buyers lose A + B, while sellers lose D + C. On the other hand, the government earns A + D in revenue. Thus, the deadweight loss is once again B + C. The solution is therefore to find the quantity that corresponds to a price of Pd and Ps so that t = Pd Ps. This quantity is shown as Q1. As seen from Figure 8, the burden of the tax is shared roughly evenly between buyers and sellers. It can also be stated that the price that buyers pay rises by half of the tax, and the price that sellers receive falls by roughly half of the tax. As Figure 7 and 8 shows, market clearing requires four conditions to be satisfied after the tax is in place (Pindyck and Rubinfeld, 2005:327, 328). These four conditions can also be written and distinguished as four different equations that must always be true: The quantity sold and the buyers price must lie on the demand curve, because buyers are interested only in the price that they must pay. Qd = Qd(Pd) The quantity sold and the sellers price must both lie on the supply curve, because sellers are only concerned with the price they are to receive. Qs = Qs(Ps) The quantity demanded must equal the quantity supplied (Q1). Qd = Qs The difference between the prices of buyers and sellers must equal t. Pd Ps = t There is a change in consumer and producer surplus, as well as in government revenue can be summarised as follows (Pindyck and Rubinfeld, 2005:328; and Perloff, 2005:289, 290): à ¢Ã‹â€ Ã¢â‚¬  CS = (-A) B à ¢Ã‹â€ Ã¢â‚¬  PS = (-C) D à ¢Ã‹â€ Ã¢â‚¬  Welfare = (-A) B C D + A + D = (-B) C From the above information we have seen that the burden of a tax is shared almost evenly between buyers and sellers, however, this is not always the case. If demand is inelastic and supply is relatively, then the burden of the tax will fall mostly on the buyer. Demand will work in the opposite way. It can also be determined if the burden of a tax falls more on the buyer or the seller (Pindyck and Rubinfeld, 2005:328): Pass-through fraction (Buyer) = Ed / (Es Ed) This equation thus stipulates what fraction of the tax is passed-through to consumers (buyers) and producers (sellers) in the form of higher prices. So, if the demand is totally inelastic (when Ed = 0) so that the pass-through fraction is 1, then all the tax is borne by the consumers (Pindyck and Rubinfeld, 2005:328). Similarly, when demand is totally elastic, the pass-through fraction is zero and producers bear all the tax. Therefore, the equation basically indicates that a tax falls on the buyer if Ed / Es is small, and on the seller if Ed / Es is large. The Effects of a Subsidy A subsidy can be analysed in much the same way as a tax. In fact, a subsidy can be better defined as a negative tax. With a subsidy, the sellers price exceeds the buyers price and the difference between the two is the amount of the subsidy. Thus, the effect of a subsidy on the quantity produced and consumed is the opposite of the effect of a tax, which also means that the quantity will increase (Pindyck and Rubinfeld, 2005:329). Figure 8: The Effects of a Subsidy In general, the benefit of a subsidy accrues mostlyto buyers if Ed / Es is small, and to sellers if Ed / Es is large. Also, the same four conditions needed for the market to clear, apply for a subsidy as it did for a tax. The only difference is that now the difference between the sellers price and the buyers price is equal to the subsidy (Pindyck and Rubinfeld, 2005:329): Qd = Qd(Pd) Qs = Qs(Ps) Qd = Qs Ps Pd = s Conclusion From this paper the evidence shows that simple models of demand and supply can be used to analyse a wide variety of government policies. These include price controls, minimum prices, price supports, production quotas, import tariffs and quotas, and taxes and subsidies. In each case, consumer and producer surplus are used to evaluate the gains and losses to consumers and producers. These gains and losses can be quite large. Evidence have also indicated that when the government imposes a tax or subsidy, price usually does not rise or fall by the full amount of the tax or subsidy. Also, the incidence of a tax or subsidy is usually split between consumers and producers. The fractions that each group ends up paying/receiving depend on the relative elasticities of demand and supply. It is important to remember that government intervention generally leads to a deadweight loss, even if consumer and producer surplus is weighted equally. In some cases this deadweight loss will be small, but in other cases (price supports and import quotas) it is large. This deadweight loss is a form of economic inefficiency that must be taken into account when policies are designed and implemented. In summation, government intervention in a competitive market is not always bad. Government, and the society it represents, might have objectives other than economic efficiency. There are also situations in which government intervention can improve economic efficiency. Examples are externalities and cases of market failure.

Causes of Breast Cancer

Causes of Breast Cancer Breast Cancer About 40,610 women alone will die just this year from breast cancer. Everyone is at risk of breast cancer. Breast cancer is a cancer that starts in the breast. It is a big killer of women. The article breast cancer states that, breast cancer, cancer that originates in the breast. Breast cancer is the second leading cause of cancer death in women.(Breast cancer. The) Even though it has a high risk in women anyone can get breast cancer. The article mentioned above says, Although the vast majority of the cases occur in women, some men also get breast cancer.(Breast cancer. The) There has been some lead way in the prevention of breast cancer and less people dying. The article breast cancer says, Even allowing for improvements in detection (i.e., the introduction of routine mammography), there has been a long-term gradual increase in the incidence of breast cancer since the early 1970s, but because of the more effective treatment afforded by such early detection, overall mortality began to decrease by the mid-1990s. (Breast cancer. The) Certain things increase the risk of breast cancer. Howeve r, not everyone with breast cancer has these things, and not everyone who has these things has breast cancer. The article mentioned above says, Epidemiological study has identified certain risk factors that increase the possibility that a woman will get breast cancer, although not all women with breast cancer have these traits, and many women with all of these traits do not develop the disease. (Breast cancer. The) The risk goes up for older people, if it is in your blood, or if you have a history of breast disease. The article breast cancer says, Risk factors include age (the incidence of breast cancer is rare in women under 35-most cases occur in women over 60); a history of breast cancer in a close blood relative; and a history of breast cancer or benign proliferative breast disease. (Breast cancer. The) Other risk factors are hormones, not having children or waiting to have children, and weight. The article mentioned above states, A high cumulative exposure to female sex hormone s (estrogen and progesterone) appears to increase the risk of some breast cancers. Hormonally related risk factors include early menarch (before age 12), late menopause (after age 55), having no children or postponing childbirth, and obesity in women over 50. (Breast cancer. The) One way to stop breast cancer early on is to have regular mammograms. The advantage of mammography is that it can find the tumor in its early stages. People whose cancer is found with a mammogram have a higher chance of survival. The article Mammography says, Mammography is X-ray imaging of the breast to detect breast cancer. The advantage of mammography is that it can detect tumors while they are still small and are most easily treated. Studies have shown that women who received early medical treatment after their breast cancers were found through mammograms had a five-year survival rate approaching ninety percent (depending on the stage at which cancer is detected). By comparison, women whose cancers were not found by mammograms had a five-year survival rate of just sixty percent.(Mammography) Lots of women will have this disease at one point in their life, but mammograms can help to diagnose it. The article mentioned above says, The American Cancer Society has estimated that one o ut of every eight women will develop the disease at some point in her lifetime. Mammography is considered an important tool for diagnosing women at risk for developing breast cancer.(Mammography) Breast cancer was not always so widely accepted. The article Mammography says, By the 1960s, mammography was becoming a widely used diagnostic tool. Some critics claimed that the procedure exposed women to dangerous levels of radiation.(Mammography) This made them change the way they did it to satisfy the critics. The article mentioned above says, The amount of radiation needed to produce clear pictures of breast tissue was reduced significantly through the development of more sensitive film.(Mammography) The best way to tell if you have breast cancer is to feel for it. The article Breast Cancer says, The primary method of discovering the symptoms of breast cancer is self-examination. Doctors recommend that women learn how to properly examine their breasts and to do so on a regular basis. The purpose is to look for any changes in the breasts. (Breast Cancer Sick) What the patient should be looking for is a lump. If a lump is found then it should be reported to a doctor immediately. The article mentioned above states, One warning sign of breast cancer may be a lump in the breast or armpit area. The presence of a lump suggests that medical advice should be sought.(Breast Cancer Sick) The fact that a lump is there should not have you worried, because it is not always cancerous. The article Breast cancer says, A lump does not necessarily indicate breast cancer. In many cases, lumps are benign (not cancerous) and can be removed without any lasting harm to the patient.(Breast Cancer Sick) A nother test to see if you have cancer is a biopsy. The take a tissue sample off of the breast, and test it for cancer. The article mentioned above states, One test is a breast biopsy. The tissue removed during a biopsy can be studied under a microscope. The test allows a doctor to determine whether cells in the sample are cancerous or not. (Breast Cancer Sick) IF cancer is found then they can see if has spread to other parts of the body yet. The article Breast cancer says, If cancer is found, tests can also be used to determine if the cancer has metastasized (pronounced muh-TASS-tuh-sized). Metastasis (muh-TASS-tuh-sis) is the process of cancer cells spread to other parts of the body. Testing for metastasis involves removal of lymph nodes from the armpit. The presence of cancer cells in the lymph nodes suggests that the cancer has begun to spread. (Breast Cancer Sick) The easiest treatment is to remove the lump and some of the tissue around it with some lymph nodes. The article ment ioned above says, The simplest treatment is a lumpectomy, a procedure in which the cancerous lump is removed from the breast. The surgeon also removes some tissue around the lump and some of the lymph nodes under the arm. Removing healthy tissue around the lump ensures that all of the cancer has been removed. Removing the lymph nodes allows the doctor to test for metastasis. (Breast Cancer Sick) Diets can have an effect on you and cause breast cancer. The people with the most fat in their diet have lots of deaths from breast cancer. Cory Servaas writes, The highest incidence of deaths from breast cancer is found in the most highly developed countries, those in which peoples diets tend to be high in fats and low in fiber.(Servaas) The death rate from cancer in countries with low fat foods is lower, but as more countries develop a more American diet they are increasing in deaths. Servaas states, Traditionally, in Japan, only 20 percent of the calories in the daily diet comes from fat versus 40 percent of calories from fat in the United States. Note the chart on page 67 that shows the rate of deaths from breast cancer in Japan to be very low. (Men may be interested to know that the death rate from prostate cancer is also very low in Japan.) This chart, however, was compiled in 1976. It is interesting that the incidence of breast cancer in Japan has increased 250 percent since 1 966. During this period many Japanese have shifted to a higher-fat, Western type of diet. Within Japan, the risk of developing breast cancer has been found to be 8.5 times higher among wealthier women who eat meat daily than among poorer women. A similar increase in breast cancer was found in Iceland, where the national diet has shifted from predominantly fish and sheep to more Western fare.(Servaas) This is because the increase in fats has led to more obesity and it is increasingly harder to find the lumps on breast used to detect breast cancer. In conclusion breast cancer is caused by age hereditary traits, hormones, and health. An easy way to find it is with a self-examination or mammogram. The easiest way to deal with it is a lumpectomy. References Breast Cancer. Sick!, UXL, 2007. Research in Context, go.galegroup.com/ps/i.do?p=MSICsw=wu=j020902v=2.1id=GALE%7CCV2643900019it=rasid=15ef5ef0bdc2b526562335fb8657988f. Accessed 9 Feb. 2017. breast cancer. The Columbia Electronic Encyclopediaà ¢Ã¢â‚¬Å¾Ã‚ ¢, Columbia University Press, 2017. Research in Context, go.galegroup.com/ps/i.do?p=MSICsw=wu=j020902v=2.1id=GALE%7CA68486643it=rasid=607940fd249c5b4968321bc189f256b1. Accessed 3 Feb. 2017. Mammography. UXL Science, UXL, 2008. Research in Context, go.galegroup.com/ps/i.do?p=MSICsw=wu=j020902v=2.1id=GALE%7CCV2646000622it=rasid=da4238e50516f2702052bcad4af954c3. Accessed 6 Feb. 2017. SerVaas, Cory. Prevent breast cancer deaths. Saturday Evening Post, Mar. 1986, p. 68+. Research in Context, go.galegroup.com/ps/i.do?p=MSICsw=wu=j020902v=2.1id=GALE%7CA4151308it=rasid=deac5885b258ce7d6954f0f6396e4f6f. Accessed 3 Feb. 2017.

HIV and AIDS :: STD, HIV, AIDS

HIV/AIDS INTRODUCTION At the beginning of the 20th Century it was believed by many, including the United States Patent Office, that there was nothing else to invent. Now, 100 years later at the beginning of the new millenium the ancient Egyptian philosopher is more relevant, "there is nothing new under the Sun". While HIV/AIDS may be a new disease, there is nothing new about a novel epidemic, which can potentially or actually decimate a population. In the late middle ages, the Black, now known as the Bubonic Plague, swept through Europe killing virtually half the population. It was introduced by a single or small group of rats that came to Italy abroad a trading ship from what is now Turkey. Small Pox transmitted by trade goods from the Hudson Bay Company wiped out entire Native American tribes. There are other examples of diseases accidentally introduced to a population that had no genetic immunity to them. Not to mention NASA's fear of an unbeatable super virus from outer space. Now as in previous disea ses, one of the dangers of HIV/AIDS is not only in its plague proportions but also in the almost superstitious misunderstanding of the virus itself. In the treatment of all illness, it is necessary to understand the emotional, economic, psychological and sometimes even political impact that is brought about by the disease. This is particularly true with a disease that is as devastating and heretofore misunderstood as HIV/AIDS. AIDS is the punishment of God on sinners. AIDS is a plot by the CIA and the South African Government to wipe out the population of black Africa. AIDS is the result of medical experimentation during the development of the polio vaccine employing the use of rieces monkeys as guinea pigs. AIDS is this, AIDS is that; AIDS is the end of the world. There is nothing new under the Sun. As we enter a new millenium, we are still controlled by prejudice, fear and superstition. AIDS is not the end of the world, it is simply the latest challenge the medical community needs to meet. There are new things to invent including an immunization and cure for HIV/AIDS. But before that we must overcome the age-old superstitious fears of the unknown and rise above the prejudices that we harbor of, "those people". Let us understand HIV/AIDS. AIDS, the acronym for acquired immunodeficiency syndrome, is the end stage disease of the human immunodeficiency virus (HIV).

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Mission and Values RNOH mission is, Royal National Orthopedic Hospital works to provide its patients and families the best care possible through state of the art technology. Through emphasis on education, this facility will continue to attract and develop junior medical staff by providing a critical mass of high quality routine work as part of our academic strategy. RNOH will uphold and monitor all agreements with other providers for a range of clinical support services that support stand-alone services. Their vision is to continuously expand on their national benchmarking to international benchmarking to demonstrate world class services. Royal National Orthopedic Hospital will maintain strong contract management arrangements with the NHS Trusts while creating bonds with alternative providers through academics and services. Long-term Goals & Short-term Goals NHS Trust organization is a divisional level structure. National and local strategies are being implemented to continue the development of high performance in the measurement of clinical, academic, financial, and patient experiences. In this division level, quality and service improvements are implemented and executed and will constantly be updated to ensure continuous cycle of effectiveness and efficiency. ("Royal National Orthopaedic,") Corporate-level strategies within Royal National Orthopedic Hospital are internal. Besides financial, executives and managers must strategies within their sector; staff motivation at work, support from immediate managers, and always putting patients first. The organization is design to put clinical leadership at the heart of the hospital to keep values in all aspects of our business and ensuring they are adhered to and implement new ways o... ...s. RNOH, to stay ahead of other organizations will need to build on its social media exposure. Recommendations to building social exposure would be to build a network community whether it is on Facebook or Twitter. Using these sites, facilities can create hashtags for campaigns and help with awareness and presence. This community will allow updated posts linking these posts to other channels. Another option is forum outreach which would give relevant information about local or specific issues. Another way this organization keeps its competitive edge is that RNOH signed a â€Å"three-year contract with Spire Healthcare to run the PPU at its Stanmore site in London. Doing this helps to improve existing private patient services and drive up revenue. In late 2011 executive saw significant uplifts in private patient revenue being achieved.† ("Response to competition," 2013)

The Law of One Price in Financial Markets

The Law of One Price in Financial Markets Owen A. Lamont and Richard H. Thaler The Law of One Price is an economic way of rational perspective to explain the expectation of price uniformity of a particular commodity or say any economics goods across national boundaries. The law tries to explain what a market price condition of a given goods should be, all things being equal, across global boundaries. This law will hold where every variable that has a causality effect on price variation are held constant.That is where there is absence of transaction cost and no restriction or barrier to trades Lamont and Thaler (2003) try to use real word scenario to explain the functionality and effectiveness of the law of one price. Under the assumption that the law could be realistic in completive market with no transaction and barrier to trade cost. The point of interest is to see whether this law could be violated. Using the aspirin market as an example, Lamont and Thaler are able to justify that it is very easy to violate the law in a consumer goods market.There are many factors that shape the consumer buying decision and some of these factors can actually lead to the violation of the law of one price. Example of such factors may include consumer foreknowledge about a product, influence of friends and family, perception about substitute goods or similar goods with brand variation. Owing to the factors that influence consumers buying decision of a consumers goods, it is difficult for Arbitrageur to have any influence in consumer goods market thereby causing the violation of the law of one price .Lamont and Thaler says there exist no open way to sell short a consumer product and because of preconception about a consumer product by the consumer, it is very difficult to predict when consumer will see the error in their way. In most instances, consumers realize their mistakes during post purchase evaluation Thaler and Lamont try to find see if the Law of one price is actually b eing kept in the financial market where there is room for short selling and transaction cost are pretty low. Using several examples from the financial arket, it is obvious that this law is being violated more often. Closed end investment fund or mutual fund case sighted by Thaler and Lamont might seems to be in violation of the Law of one price, but obviously from the analysis, the closed end mutual fund security and the underlying asset are not identical. And the fee charge by a fund manager for his service is somewhat rational. On the other hand, the ADR example using the Infosys example reflects the violation of the law of one price as obviously there are large discrepancies between the two prices.In the case of Twin share of Ryal Dutch and Shell, it is surprising that Royal Dutch was selling at a higher value than Dell even though it is pretty much a share of the same company but after the announcement that the US is dropping all foreign share, the market quickly reacted to the information and the premium on Royal Dutch dropped from 6% to 1% within 24 hours. Obviously, it the incident is a clear indication of the violation of the law of one price considering the fact that there are room for short selling and an ample opportunity for arbitrager to even get involvedConsidering all the cases presented by Thaler and Lamont, it is submitted that economists do need to focus more on whether the market is sending the right signal to the to the market participants or not. It can be concluded from the case studies that the law of one price should hold only if the same asset is selling at different price in different market simultaneously, then the arbitrageurs could step in take advantages of price differences which will allow it to make some pretty money for him/her self before the market get to equilibrium.However, it is logical to say that no two securities are completely identical. Nonetheless, it may be reasonable to say that arbitrageurs could still make some decent living in the presence of imperfect information in the financial market Work Cited Lamont, Owen A. and Richard H. Thaler. Journal of Economic Perspectives—Volume 17, Number 4—Fall 2003—Pages 191–202