Utility Critical Thinkings Samples For Students

The utility theorem of Bentham was the way formalizing and developing a scientific background for the ideas of economics. This theory enabled the economist to transform their ideas to the formulas on which they could make calculations, and develop theoretical extensions. The utility theorem formulized total utility and marginal utility. Total utility is the sum of the complete satisfaction from consuming goods. Marginal utility is the change in total utility against the change in the used amount of goods. This utility formulation enables economists to understand how the utility changes for people for their preferences of consumption (Hunt & Lautzenheiser, ...

Marginal utility is the additional satisfaction that a consumer derives from consuming an extra unit of a good or service (Epsey 23). Therefore, if two items have the same price, a rational consumer will prioritize the one offering highest utility. Even where the two items have different prices, the consumer will buy the one that will give the highest utility per dollar spent (Bromley 75). However, a consumer will not keep buying more units of that one item always due to the law of diminishing marginal utility. When the marginal utility per dollar for all items becomes even, consumers stop changing proportions of ...

Introduction

In the current multifarious and very competitive environment, most businesses are striving to secure a favorable global market share in order to survive in their respective industry. In all organizations, marketing has long ceased to be a subsidiary department. Instead, it is now a frontline independent department. In addition to this, firms have been seen to capitalize on globalization and the advances in technology as they expand to take every opportunity presented to it. In the past, most businesses understood the concept of marketing as the advertising and selling of products and services. However, it has now been viewed as a fundamental discipline ...

The idea behind the diamond-water paradox starts with the concept of value. According to Adam Smith, value can be defined to mean the “value in use” or “value in exchange”. Those that have the greatest value in use will have the smallest value in exchange. In the same way, those that have the greatest value in exchange will have the smallest value in use. As such, we possess things of high value in use to acquire those things with high value in exchange and vice versa. For example, water has a very high value in use while diamond has a very ...

In production, when the price of capital changes due to the relative change in labor than capital becomes cheaper and labor dearer. The capitalist then substitute the cheaper one for the costlier one.
Figure 11.4, 11.5,11.6
In the figure 11.4 shows the VMPL curve, which is MPL multiplied by price of the output. The curve is diminishing which shows that the amount capitalist will add to increase his revenue by hiring one more labor at different levels of employment.
The figure 11.5(a) shows that in the labor market the part of the labor that will be employed ...

Introduction

The changes in the factors of production affect the production process of various commodities in the market. The production process of every product is done with a primary aim of maximizing profit in the market. There are several factors that affect the profit formation process in an organization. It is the role of the management of any business to ensure the operations of the enterprise are flexible and efficient in the organization. The management of the business consists of different departments in an organization. Every department in an organization plays a major role in the success of the company. ...

Nowadays, computer users face many issues related to the computer application. Major computer applications have their inbuilt support facility but it is almost helpless in offline mode. The built in software help option gets updated as soon as the application gets internet access. Further, the current scenario is marked by Smartphone and palmtops privileged with easy access to internet (McCallister). This has laid the foundation of a ready to use application trouble-shooter, accessible online and built to cater computer application issues for all genres of devices. The article reviews over the utility of the newly launched RoboHelp 10, the online ...

Among different theories that were implemented in XIX-XXs century the concept of utilitarianism and deontology are still the matter to discuss. Although firstly the suppositions of utilitarianism appear in the writings of the British moralists of XVI-XVII centuries, the modern theory of the concept is most often associated with the British philosopher John Stuart Mill (1806- 1873) who elaborated the theory from a hedonistic version proposed by his mentor Jeremy Bentham (1748- 1832) who thought a person should experience a lot of pleasure and avoid suffering. As most clearly stated by Mill, the basic principle of utilitarianism is that ...

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Introduction
The principle of profit maximization primarily focuses on the very fact that the fundamental motive of any business entity is maximizing its profits consequently maximizing the income of all of its shareholders. Maximization of sales, stock price, market share, and cash flow would all lead to profit maximization of the firm. Identification of the point where there exists the maximum difference between total revenue and total cost would help the firm in achieving the maximum profit. A few basic rules that would apply ...

Question one

In regards to the design for way finding, the Facebook developer by has state of the art navigation option which allows and direct the users what they want. Facebook enables the user to navigate to different places with many simplicities. In addition, it also displays related pages, for instance, suggesting s group of people that that facebook account holder may know.
Critical analysis of the how facebook was design shows that the developer considered three things. These were attracting massive traffic, ensure high levels of user satisfaction and loyalty, and securing a substantial budget justifying the proposal in commercial ...

1: INTRODUCTION

- History and Importance of Team Work
A team is a group of people with complementary skills who work together to achieve a common purpose. (Armstrong M.2008) The concept of team work has a deep rooted history dating back to over 2000 years ago. It is a character that exists even within animals. Early man use to collaborate together in order to hunt down large animals like Elephants. Likewise, beings such as ants collaborate to build a big anthill. In the past, Jesus Christ advised his disciples to work in teams. Human beings often have weaknesses. It only takes the eyes and the ...

Question a.

Ethics define the good and wrong acts of an individual. Through morals and ethics, the human nature helps to substantiate the actions that will lead to another party suffering. In the Sandel’s explanation using the trolley story, it is through inner human perception that helps to formulate the action to undertake. The philosopher approaches the ethics in humanitarian aspects that helps an individual to evaluate any decision he or she is making against another. It helps to identify the right path to follow when making judgement regarding certain course of actions.

Question b.

Jeremy Bentham’s philosophy of utilitarianism supports ...

Part 1 Question 1

The Vietnam is also commonly called the American War in Vietnam (Rosenberg, 2012). This war was fought between 1959 and April 30, 1975. Most of the American citizens were opposed to the war and they felt that America should not have gotten involved in the muddle. They felt that there was no need as to why the nation could lose much of its resources and soldiers in fighting a war which, in their eyes, was not bound to deliver any benefits to the nation. For the purpose of this paper, it is important to look at the cause of the ...

 Why professional bicyclists have recently been descending hills at greater speeds.

Pedaling is a compound sport, which involves competitors, who must compete with a diversity of approaches, numerous environmental factors, and roughness on the ground. The operation on high grounds is an essential ascertaining victory factor in the leading international cycling tournaments. The main forces that a bicyclist must prevail over are; the gravity and air resistance. Air resistance rises exponentially with momentum. When pedaling from a smooth road to an ascending hill, the reduced speed lessens the air resistance to a level where leading other riders offers little benefit. Smaller bicyclists, who prefer to have a higher authority to ...

Question 2

My major is Accounting and Finance. One of the typical jobs for Accounting and Finance majors is accountancy and auditing. Accountants maintain and prepare financial records while auditors examine those financial records. They ensure that the financial statements are true reflection of the business performance and that any taxes that are due are paid on time.
According to the Bureau of Labor Statistics (BLS), the lowest 10 percent in the profession earned 41,400 dollars per year. The salary that is paid depends on the level of experience and education level. The minimum entry qualification for accountants and auditors ...

English

Patients who have been suffering unbearable pain or are terminally ill and have no hope of getting better, have a right to take a stance and end the misery. And to that end, a medical doctor, for the benefit of such a patient, should consider it ethical and their moral duty to assist the patient commit suicide 1. Doctors should have a clear ethical stance on assisted suicide, so that when the circumstances demand, the doctor, beyond a shadow of doubt, can help the distressed and the patient's family take a prompt decision to avoid any unnecessary agony.
A ...

Introduction

Enron has once been named as one of the most innovative American company, according to a survey made by Fortune Magazine (Healy & Palepu, 2003). Its rate of growth in the stock market is unbelievably exponential as reports had said that its stock’s growth reached up to 300 percent once. That kind of growth can be described as superb when it comes to business because that would only mean that the sales had hit way past the profit borderline. Furthermore, the growth lasted for some period of time until the company gained too much prosperity which is the reason ...

Communication is an essential part of management which determines the failure or the success of an organization. Without communication, organizations are prone to failure. Information transfer between departments in an organization and the workers of that organization is highly essential for continued cooperation in an organization (Miller & Roger, 113). More so, communication between an organization and its customers a key factor as information necessary for the services and even products to be delivered. In the service industry, reliable information is the main determinant of the reliability and availability of the services required by the customers. It is, therefore, important ...

Part 1

Ethic in business is a crucial thing. In these paper Halliburton company is said to have been involved in corruption scandals shall be evaluated. At the same time the Wal-Mart company that has been exploiting people shall be evaluated from different perspectives as outlined.

Utilitarianism takes two dimensions, the act utilitarianism and the rule utilitarianism. The act utilitarianism has it that consequences of a single act be measured depending on how right or wrong the course of action was. The basic rule in this case is exercising the probable benefit. In this case the point of reference in every action that ...

Part a

The modern criminology seems to be stemmed from the amalgamation of the two different schools of thoughts namely classical school originating in the 18th century and the positivist school beginning in the 19th century. It is therefore, necessary to analyze both school of thoughts with respect to crimes and criminals to know the similarities and difference shared by both school of thoughts.
It was a general trend before the 18th century to explain every phenomenon in religious context or in the context of spiritual nature. However, the 18th century gave a new world view to the people because of the ...

Introduction The debate on the moral argument is unending, as Stich (2012), states that the disagreement arising from the debate on the topic is unending. This disagreement leads to some scholars stating that Moral claim is unreal and a basis of “wrong belief”. These however are not across every part of the debate considering the dynamism of morality. This writing explains the Meaning of moral claims; the objections of moral claims; the responses to the objections and the arising implications. Through these meanings, it is clear how the disagreement continues to factor in as more questions get asked.Meaning Moral claims ...

Reg No

Designation
Introduction
The critical thinking paper begins with the discussion of health financing concept. The paper explains the process and techniques that will be used in designing the healthcare services package as well as health financing mechanism/s for Province A in country Y. Priority setting and Programme Budgeting and Marginal analysis techniques are discussed in a critical manner and recommended to be the techniques established for the health care package at Province A. Economic evaluation methods are discussed with Cost benefit analysis recommended for the case. The Strategies for implementation of health care system at Province A are ...

- Sticker info
Q. Most plug-in electrical devices in your home or school have a sticker on the bottom or back that describes some of their electrical characteristics. Find one near you and share it. What can you understand about the device from looking at this sticker?
The device in consideration is an HUAWEI travel charger. The charger indicates that it will require an electricity input of 100 – 240 volts. Its output is 5.0 V, and a current of 400mA. This means that if the input and output conditions are not met, the device may be destroyed or not ...

Introduction

The process of decision making faces ethical dilemmas that require the application of relevant theoretical foundations. The most common theoretical foundations of ethics include utilitarianism, Kant’s categorical imperative, justice as fairness and altruism. Utilitarianism theories require decisions to do the greatest good for the greatest number of people (Johnson, 1952, p.154). Kant based his theory of categorical imperative on the premise that decision makers should focus on right decisions regardless of their costs (Johnson, 1952, p.158). The proponents of the theory of justice as fairness propose that decision makers should guarantee equal rights and opportunities even in the ...

Reflection on Clinical Practice

Reflection on Clinical Practice

Introduction

In advanced nursing, acute care of pregnant women is an important part. The challenge that is common in this field of nursing is that the nurse must consider the wellbeing of the developing fetus in addition to that of the mother before taking any interventions. One of the first cases I handled was that of Mr. & Mrs. Peterson. I met Mrs. Jessica Peterson, 31 while she was 4 months pregnant after she was diagnosed with gestational diabetes mellitus. From her medical records, this was her second pregnancy with the first one having ended in a miscarriage ...

Question 1

Most non-governmental organizations are movements that are aimed at improving the welfare of individuals. These imply that they improve democratic conditions of the nation by either forcing the government to implement some actions or rejecting others.

Question two

On health this organizations play a large role in providing protection measures mostly through vaccination and immunization on the world’s affected region. The donation of condoms in an effort to reduce spread of HIV by these organizations is a critical example. In an effort to reduce poverty several governments seeks assistance from these organization

Question three

This is a type of government in which the power of ...

Business

- Teleogy- suggests actions are morally acceptable if they result in self advancement or greater utility compared to its alternative. It comprises of two ethical perspectives:
- Egoism- describes actions deemed acceptable if they exploit an individual’s self-interest. Conflict is anticipated if an action is bound to benefit one individual despite the fact that there is a chance that the action may result into hurting people in the future and a different minded individual learns of the possible result.
- Utilitarianism- actions are acceptable if they exploit maximum utility or benefit large numbers of people. Conflict is anticipated ...

Introduction

Nursing burnout has been a problem for hospitals and health institutes administrators for years. Addressing problems caused by nursing burnout plays can actually be alarming considering the fact that it can affect the credibility and reliability of the healthcare services available in the hospital as well as its capability to handle patients. Therefore, it is of utmost importance for researchers as well as the nurses themselves to know the causes, risk factors, and the effects of burnout to themselves and their patients. Nurses should always be on call and ready to deliver high quality nursing services and they surely would ...

Thesis Statement

Assessing the impact of new technologies is hard. There are gains and there are also risks. Even when the benefits are clear, their side effects and costs may not be obvious. While convenience is their number one utility, there are many social drawbacks and disadvantages as well, to our society at large. For instance, the introduction of the automated teller machines (ATM) led to online banking.
At the onset, this change brought a lot of convenience to most of us. Yet, in hindsight, there were negative consequences to it. Automated machines have brought about unemployment in the banking sector, ...