Trade Facilitation - Services - and Standards Liberalization

Question: Talk about the Trade Facilitation, Services, and Standards Liberalization. Answer: Presentation: This is an exploration related diary article including and experiential examinations on the large economies and sectoral impacts of two acts of the neighborhood exchange settlements and the worldwide exchange progression little nations. To do this, the examination takes a gander at the impacts of complex strategies like the effect of exchange understanding among nations, the financial company contracts and the effects of full cost advancement. This will likewise talk about the significance and the burdens of duty boundaries. This is on the grounds that as much as exchange advancement may give a great deal helpful for various macroeconomic markers, similar to the government assistance, exchange volumes, and business; progression may likewise mean evacuating cost and non-cost deterrents which will give most extreme benefits in contrast with extra circumstances of genuine yield. Concerning this article, exchange arrangements are significant for creating nations as to exchange progressio n. The diary examines the aftereffects of the making of exchange and redirection that centers around the job of exchange organization and not associations nation attributes. This incorporates relative factor enrichments and size, correspondence, date, inclusion of the business and the progression rate which take a gander at the qualities of the understanding. The article adds to the writing of globalization in an exchange by taking a gander at the tobacco business. It doesn't just glance at the USTR responsiveness to campaigning from tobacco enterprise yet additionally raises worries about the drivers of globalization and the security that is stood to other general wellbeing worries of the tobacco business on a worldwide scale as to exchange understandings. The record will likewise show that USTR backing of the tobacco business isnt genuine, with respect to the more extensive weight of the worldwide exchange arrangements. The article talks about the significance of speculation and exchange progression and how it can hurt or advance general wellbeing. In the article, essayist talks about how it has contributed, inconsistent, to the social and financial advancement of Asia in the latest decades. The article talks about the significance of special exchange understandings for most nations. The article takes a gander at the impacts of these understandings and how it has pulled in a great deal of intrigue. The article additionally brings up issues on whether special exchange understandings can advance or hinder the multilateral exchange progression. It looks for answers to whether it is a hindrance or a structure square to the multilateral progression. The article talks about the advantages of facilitated commerce concurrence with created nations and the pacific island nations. It shows that there are more advantages for the provincial exchange understandings that there are in global exchange understandings. This is on the grounds that the assembling division appears to decrease as the creation segment increments. In the article the peruser will become familiar with how facilitated commerce functions. The articles will likewise instruct the peruser on different components that make organized commerce work for the created nations more than in accomplishes for the immature nations. The articles additionally investigations world economies and talks about a few circumstances that ought to be taken a gander at as the world economy goes under one murmur of exchange advancement. The paper researches the impacts of exchange progression with the European Union and how it influences the exchange balance deficiency of CEFTA 2006, (Central European Free Trade Agreement. References Asafu-Adjaye, J., Mahadevan, R. (2012). Territorial Trade Agreements versus Global Trade Liberalization: Implications for a Small Island Developing State. World Economy, 32(3), 509-529. Bread cook, P., Kay, A., Walls, H. (2014). Exchange and speculation progression and Asia's noncommunicable infection scourge: a union of information and existing writing. Globalization and wellbeing, 19, 66. Kandogan, Y. (2013). Exchange Creation and Diversion Effects of Europe's Regional Liberalization Agreements. Global Economic Journal, 23(4), 591-615. Kurtovic, S., Talovic, S. (2015). Progression of Trade With The EU and Its Impact on The Reduction in CEFTA 2006 Trade Balance Deficit. Global Journal of Economics and Financial Issues, 5(2), 34-38. Limao, N. (2016). Special Trade Agreements as Stumbling Blocks for Multilateral Trade Liberalization: Evidence from the United States. The American Economic Review, 96(3), 896-914. MacKenzie, R., Collin, J. (2012). Exchange strategy, not ethics or wellbeing strategy: The US Trade Representative, tobacco organizations, and market progression in Thailand. Worldwide Social Policy, 12(2), 149-172. Mahadevan, R., Asafu?Adjaye, J. (2013). One-sided Liberalization or Trade Agreements: Which Way Forward for the Pacific? The World Economy, 36(10), 1355-1372. Tarr, D., Jensen, J. (2012). Profound exchange strategy alternatives for Armenia: The significance of exchange help, administrations, and principles advancement. Financial matters - The Open-Access, Open-Assessment E-Journal, 6(1), 1-54.

The Uses and Abuses of Nationalism Essay Example | Topics and Well Written Essays - 500 words

The Uses and Abuses of Nationalism - Essay Example The strict frameworks impacted the manner in which business and exchange has been done since the old occasions. During the seventeenth Century, there was a difference in setting up what was directly as per the strict convictions at that point. A fracture had risen between the Protestants and the Catholics, prompting the northern European nations’ enthusiasm for â€Å"trade and commerce† (896). The progress from Catholicism to Protestant among numerous Europeans made a change in trade. Watson says, â€Å"New commercial classes were supplanting the customary military and landowning nobilities as the primary political force.† (896).This shows the impact of religion on exchange and business during the old occasions. Be that as it may, the impact of strict frameworks has kept on being insignificant with time. In the advanced society, the contribution of the strict frameworks in issues of business and exchange is nearly inexistent. The change has been described by stri ct resistance and opportunity of religion as cherished in the bill of rights. Colonization helped shape exchange and trade in the European nations just as those of their states. Graciousness of British colonization, America sprung to turn into a mammoth economy incompletely in light of the fact that a large portion of the people who set out on building the nation had an extraordinary foundation. Watson bolsters this contention by referencing that, â€Å"Britain had her American colonies†¦ she had developed as the most impressive of the sea nations† (897). A portion of the Britain’s benefits originated from the exchange and expenses that were demanded on its states, a viewpoint that encouraged the development of the economy. Servitude was a key part of financial development, trying to keep up matchless quality and high monetary yield western nations spearheaded by Portugal occupied with slave exchange. It started around 1444 regardless of analysis from a few quarters, particularly from key

Short Research Essay on Andy Warhol and His Influences Example For Students

Short Research Essay on Andy Warhol and His Influences Craftsman Andy Warhol was a pioneer of the pop workmanship development in the sasss. He assisted with freeing society and squash limits in American culture. Whorls work made ready for individuals to hold onto and investigate themselves as people and break the social standards. Preceding the asses individuals in America were extremely moderate on their perspectives on society and what was socially adequate. Individuals were separated into classifications dependent on class, sexual orientation and race. Warhol thought outside the box of present day similarity and tested optimist dreams making distance, forlornness and being an untouchable a pattern. America in the asses had n progressing fight with balance inside its way of life with race, sexual orientation and class being the fundamental impetuses. Whorls work concentrated principally on agreeable, cash and disaster. He separated regular generalizations carrying a feeling of social fairness to everybody, at any rate where craftsmanship had an influence. He has been cited saying later on everybody Will be well known for IS minutes. This is on the grounds that Warhol tried to take each day individuals and average stars, for example, Edie Sedgwick and turn them in to geniuses. Sending the message to a large number of Americans that anybody could be celebrated and being flighty was something worth being thankful for. Whorls work took into account the overall population and all citizenry, obscuring the lines between race, sex and class. You no longer must be an elitist to appreciate artistic work yet rather a person. It was during this time Warhol began painting ionic American items, for example, the Campbell soup jars, Coca Cola containers and superstars, for example, Marilyn Monroe and Elizabeth Taylor. Frequently making jokes about American commercialization, similarity and the loss of uniqueness. Warhol changed how the world saw basic things. Giving the open another point of view, He was offering a striking expression about being unique. These prints were his approach to pointing a finger and chuckling at large scale manufacturing and conventionalism. Allowing people in general to see things from an alternate perspective and to break new ground. Warhol got a kick out of the chance to push the limits and present day America post 1960 was traditionalist. He worked with a wide scope of mediums and between 1363-1968 created more than 60 movies and endless reels of suggestive photography. Huge numbers of which drew from the underground gay culture and transparently investigated the intricacy of sexuality and want. The subject of sexuality and homosexuality was a quieted one. Homosexuality was viewed as disquietude and not as a certifiable sexual direction. Gay people were viewed as goes astray and predators and thought about a threat to society. Warhol was straightforwardly gay and he claimed that affected his work and his mentalities and connections to the workmanship world. Whorls work and individual impact carried sexuality to the cutting edge making all the more amiably worthy for individuals to be transparently gay. Leaving them allowed to investigate their sexuality all the more honestly and genuinely. With ignoble movies and obscene pictures being promptly accessible through craftsmanship it was esteemed socially adequate in some way or another and even stylish to smell the limits of hetero marriage. Men and Woman were not, at this point reluctant to grasp their sexual personality however were urged to misuse it. Customary American qualities identified with sex and marriage was pushed aside and a sexual transformation was conceived. In Conclusion Andy Whorls work mimicked a social development and a sexual unrest in America. Through works like the one imagined (Campbell Soup Andy Warhol 1 968) he had the option to change how we kick at the world. What characterized a genius and made them not the same as the normal individual? What was amiably adequate at this point? Is it accurate to say that we are generally just pawns in the round Of consumerist America? These were all inquiries Warhol raised and left people in general to make determinations for themselves.

The Financial Performance Of The Weir Group Plc Finance Essay - Free Essay Example

1.1 Company profile The Weir group PLC was founded in 1872, with its headquarters placed at Glasgow, UK. The company along with its subsidiaries delivers specialized mechanical engineering solutions all over globe. Company operates in three different sectors like Minerals, Oil and Gas and power and industrial. In minerals sector company is involved in manufacturing wide range of slurry equipment solution, including pump, valves, de-watering products and wear resistant lining. The oil and gas segment provides storage and engineering support for the upstream and downstream offshore, marine, and onshore oil and gas markets along with designing and manufacturing of pumps, valves, and ancillary equipment. The Power Industrial segment designs, manufactures, and provides aftermarket support for rotating and flow control equipment to the nuclear power, fossil fuel, and renewable energy production activities in the power generation and industrial sectors. It also provides specialist technical services. In the fiscal year 2008, Weir acquired Mesa Manufacturing Inc. Financial Performance Through a careful analysis of its financial performance, the Weir group PLC can identify opportunities to improve performance at the department, unit, or organizational level and help them to improve its comp etitive position in the marketplace. Ratio analysis is a financial tool that can help the company to measure its financial performance in comparison to any other company or to itself comparing present performance to last year performance. 2.2 Profitability Ratios Profitability Ratios for Years 2010 2009 Return of Capital Employed 16.45% 14.39% Gross Profit Ratio 32.7% 31.28% Net Profit Ratio % % ROCE should always be higher than the rateÂÂ  at whichÂÂ  the company borrows; otherwise any increase in borrowing will reduce shareholders earnings 3. Working capital management 3.1 Liquidity Ratios Liquidity Ratios for Years 2010 2009 Current Ratio 1.30:1 1.18:1 Acid Test ratio 0.76:1 0.74:1 4. Long term Solvency 4.1 Efficiency:- Efficiency Ratios for Years 2010 2009 Inventory days 92 106 Receivables (Debtors) days 63 83 Payables (Creditors) days 131 138 WC Cycle days 160 161 5. Sector analysis As discussed earlier Weir Group PLC operates in three different sectors, so they have been analyzed separately as follows. 5.1 Minerals While project enquiry levels are up and major miners have announced planned increases in their 2010 capital expenditure levels, we remain cautious as to timing of conversion into original equipment orders. Furthermore, product lead times dictate any flow through to revenues will not be evident until later in 2010. These factors together with our lower opening order book mean that original equipment revenues are likely to be lower through the first part of 2010. Aftermarket sales have now stabilized and we would expect these to grow in line with underlying commodity production trends determined by commodity prices and global economic growth. Aftermarket sales will also benefit from a growing installed base of original equipment. The medium term outlook for the division remains positive reflecting growing emerging market demand for resources. 5.2 Oil and Gas Although forward visibility is still limited, the immediate outlook for upstream business is more positive than at the start of 2009. This is based on increases in rig counts since they bottomed in mid-2009 and higher demand for aftermarket products and services as the industry moves to harsher shale formations. Company expects recovery in their Middle East service operations to be slow. Its downstream order book provides a solid underpinning for 2010, although its anticipated to be a more challenging environment for new orders. The medium term outlook for upstream remains strong, with rig counts forecast to continue to raise, an increasing bias towards unconventional drilling and emerging interest in shale fracturing beyond North America. 5.3 Power and Industrial Entering 2010 with a record order book and the divisions financial performance in 2010 will benefit from a strong nuclear workload. Company is cautious of the speed of recovery in industrial markets; the outlook for the global nuclear power market is becoming more positive, driven by environmental concerns combined with a growing demand for power particularly in Asia. At the same time, the need for life extension and refurbishment of existing power plants in the UK, Europe and North America will continue to grow given lead times for new build in these markets. With its global footprint, tr ack record and nuclear expertise means company has well placed to benefit from these opportunities over the medium term. 6. Agency Theory There are times when there is conflict of interest between contracting parties. In case of public limited company these two parties are share holders and corporate managers. The conflict in the following groups arises as they have to agree to remuneration of corporate executive on common grounds. Each party has their own agenda to achieve shareholders think that the corporate managers have not done their job properly and thus should not be remunerated with huge pay checks. While on other hand corporate managers think in exactly opposite manner. In such cases Agency theory developed both theoretically and empirically helps to conduct detail investigation of the causes of the problem such as divergence of interest between share holders and corporate managers. In greed to pursue their own goals, they bear entire cost of failure because if they achieve their set goal then they are remunerated by just a fraction of benefits, which is insufficient to motivate managers. This makes managers to make decision that are risky and are not in the best interest of the company but them selfs, the loss caused in process is called as residual loss. Agency theory when applied can act as bridge between these two parties, analyzing the company performance and remunerating the managers accordingly and ensure proportionate dividend to share holders. Weir Group PLC deals with the agency problem by setting up remuneration committee along with committees like audit committee and nomination committee. The remuneration committee is appointed by the board and consists of more than three independent non-executive directors. The independent non executive directors make decisions that are in favor of both the parties. The members of the remuneration committee conduct meeting thrice or more as required in a year, coinciding with the key dates in the companies bonus and remuneration cycle. The committee has been authorized to investigate any activity within its terms of reference, this helps them to keep track on directors actions. Members of remuneration committee can seek any information that requires from any employee of the company and employees too are directed to co-operate with any request made by the committee. The committee can get external legal aid or independent professional advice at the companies expense, such advisors are may attend company meetings if necessary. To avoid agency problem Weir Group PLC has appointed remuneration committee with following duties (i) To determine and agree with the Board the framework or broad policy for the remuneration of the Chairman of the Company, the Chief Executive, and the members of the Executive Operations Group (the Executives). The remuneration of Non Executive directors should be a matter for the Chairman and Executive members of the Board. No Director or Exe cutive should be involved in any decisions as to their own remuneration; (ii) In determining such a policy, the Committee will take account of all factors which it deems necessary. The objective of such policy shall be to ensure that the Executives are encouraged to enhance the Companys performance and are, in a fair and responsible manner, rewarded for their individual contribution to the success of the Company; (iii) To review the ongoing appropriateness and relevance of the remuneration policy; (iv) In determining such packages and arrangements to give due regard to the comments and recommendations of the Code as well as the UK Listing Authoritys Listing Rules and associated guidance; (v) To approve the design of, and determine the measures and targets for, any annual performance-related pay schemes operated by the Company for the Executives and the individual payments to Executives; (vi) To approve the design of all share incentive plans and for any such plan, the Committee will determine each year whether awards will be made and, if so, the overall amount of such awards, the individual awards to Executives and any performance measures and targets; (vii) To determine the policy for and scope of pension arrangements for each Executive; (viii) To review the terms of service agreements for each of the Executives from time to time and to ensure that contractual terms on termination, and any payments made, are fair to the individual and the Company and that the duty to mitigate loss is fully recognized; (ix) To review and note annually the remuneration trends across the Company; (x) To be responsible for obtaining reliable, up-to-date information about remuneration in other companies with a view to determining where to position the Company relative to other companies. (xi) within the terms of the agreed policy to determine the total individual remuneration package of each Executive including, where appropriate, bonuses and long ter m incentives; (xii) To ensure that provisions regarding disclosure of remuneration, including pensions, as set out in the Directors Remuneration Report Regulations 2002 and the Code, are fulfilled; (xiii) To be responsible for establishing the selection criteria, selecting, appointing and setting the terms of reference for any remuneration consultants who advise the committee; (xiv) To report the frequency of, and attendance by members at, remuneration committee meetings in the annual report; and (xv) To review the Committees terms of reference annually and where necessary, to update them. Reflective Journal I was a kind of student that had fear about accounting and thought accounting is boring subject with numbers that increase and decrease for no cause, but when I over came my fears and paid attention in class when financial concepts was taught It clicked to me that there is reason for all the changes happening in numbers and how finance serves as nervous system of any business, from that day onwards my interest in field of finance is increasing. The major research work done for the assignment was from library books which helped me to understand the basics of financial analysis and other most important source was internet which enabled me to access news articles published in past. At first calculation part was completed and then accordingly difference between values of both years was considered for the base for research, then I tried finding out the reason for deviation in figures. The research data to be studied was more and time as source was to utilized effectively so first I divided the assignment into different sub topics and completed these topics in set time frame. Competition with my class mates motivated me to complete my assignment in best possible manner. This is the first time I conducted research on the company, so it was hard to find financial information, or published news articles of company and I found it difficult to filter quality information. Now that I have learned to find the information in most effective way next time I can save lot of time and get some quality information. The learning outcomes that I found easiest while completing the assignment was Knowledge as I understood the use of financial statement analysis and the concepts applied to do ratio analysis . The learning outcome that I found most difficult was critical thinking as I often came across situations where a judgment was needed to be made in absence of complete data. Critical thinking on complex unstructured financial problems was tough task for me. RATIO ANALYSIS PROFITABILITY RATIOS Return of capital employed = Operating Profit ÃÆ'Æ’- 100 Capital Employed 2010 2009 Capital Employed = Share Capital + Capital Employed = Share Capital + Reserve + Reserve + Non-Current liability Non-Current liability As Total Equity = Share Capital + Reserve as Total Equity = Share Capital + Reserve So Capital employed = Total Equity + So Capital employed = Total Equity + Non-Current liability Non-Current liability = 373.3+742.2 = 442+696.9 = 1115.5 = 1138.9 ROCE = 183.5 ÃÆ'Æ’- 100 ROCE = 163.9 ÃÆ'Æ’- 100 1115.5 1138.9 = 16.45% = 14.39% Gross Profit Margin = Gross Profit ÃÆ'Æ’- 100 Sales Revenue 2010 2009 GPM = 455.2 ÃÆ'Æ’- 100 GPM = 423.5 ÃÆ'Æ’- 100 1390.2 1353.6 = 32.7% = 31.28% Net Profit Margin = Net Profit ÃÆ'Æ’- 100 Sales Revenue 2010 2009 NPM = ÃÆ'Æ’- 100 NPM = ÃÆ'Æ’- 100 1390.2 1353.6 = % = % Current Ratio = Current Assert Current Liabilities 2010 2009 Current Ratio = 569.3 Current Ratio = 732.3 435.8 618.5 = 1.30:1 = 1.18:1 Acid Test Ratio = Current Assert Inventory Current Liability 2010 2009 Acid test Ratio = 569.3 235.3 Acid test Ratio = 732.3-269.6 435.8 618.5 = 0.76:1 = 0.74:1 Inventory Days = Inventory ÃÆ'Æ’- 365 Cost of Sales 2010 2009 Inventory Days = 235.3 ÃÆ'Æ’- 365 Inventory Days = 269.6ÃÆ'Æ’- 365 935 930.1 = 92days = 106 days Receivable Days = Trade Receivables ÃÆ'Æ’- 365 Sales 2010 2009 Receivable Days =240.5 ÃÆ'Æ’- 365 Receivable Days = 309.2ÃÆ'Æ’- 365 1390.2 1353.6 = 63 days = 83 days Payable Days = Trade Payable ÃÆ'Æ’- 365 Cost of Sales 2008 2009 Payable Days = 336.3 ÃÆ'Æ’- 365 Payable Days = 353.6 ÃÆ'Æ’- 365 935 930.1 = 131 days = 138days Working Cycle Days = Receivable Days + Inventory Days Payable Days 2010 2009 Worki ng Cycle Days = 92+131-63 Working Cycle Days = 106+138-83 = 160 days = 161 days Gearing Ratios = Long Term Debt + Preference Share Capital ÃÆ'Æ’- 100 Share Capital + Reserves + Long Term Debt = Debt . ÃÆ'Æ’- 100 Total Equity 2010 2009 Gearing Ratios = 174.2 ÃÆ'Æ’- 100 Gearing Ratio = 242.6 . ÃÆ'Æ’- 100 742.4 696.4 = 23.46% = 34.83%

The Use of Listing in Composition

In composition, listing is a discovery (or prewriting) strategy in which the writer develops a list of words and phrases, images and ideas. The list may be ordered or unordered. Listing can help overcome writers block and lead to the discovery, focusing, and development of a topic. In developing a list, observes Ronald T. Kellogg, [s]pecific relations to previous or subsequent ideas may or may not be noted. The order in which the ideas are placed in the list can reflect, sometimes after several attempts to build the list, the order needed for the text (The Psychology of Writing, 1994). How to Use Listing Listing is probably the simplest prewriting strategy and is usually the first method writers use to generate ideas. Listing means exactly what the name implies—listing your ideas and experiences. First set a time limit for this activity; 5-10 minutes is more than enough. Then write down as many ideas as you can without stopping to analyze any of them. . . . After you have generated your list of topics, review the list and pick one item that you might like to write about. Now youre ready for the next listing; this time, create a topic-specific list in which you write down as many ideas as you can about the one topic you have selected. This list will help you look for a focus for your...paragraph. Dont stop to analyze any of the ideas. Your goal is to free your mind, so dont worry if you feel youre rambling.(Luis Nazario, Deborah Borchers, and William Lewis, Bridges to Better Writing. Wadsworth, 2010) Example Like brainstorming, listing involves the unmonitored generation of words, phrases, and ideas. Listing offers another way of producing concepts and sources for further thought, exploration, and speculation. Listing is distinct from freewriting and brainstorming in that students generate only words and phrases, which can be classified and organized, if only in a sketchy way. Consider the case of a postsecondary academic ESL writing course in which students are first asked to develop a topic related to modern college life and then to compose a letter or editorial piece on the subject. One of the broad topics that emerged in freewriting and brainstorming sessions was The Benefits and Challenges of Being a College Student. This simple stimulus generated the following list: Benefitsindependenceliving away from homefreedom to come and golearning responsibilitynew friendsChallengesfinancial and social responsibilitiespaying billsmanaging timemaking new friendspracticing good study habits The items in this preliminary list overlap considerably. Nonetheless, such a list can offer students concrete ideas for narrowing a broad topic to a manageable scope and for selecting a meaningful direction for their writing. (Dana Ferris and John Hedgcock, Teaching ESL Composition: Purpose, Process, and Practice, 2nd ed.Lawrence Erlbaum, 2005) An Observation Chart A type of list that seems especially appropriate for poetry writing instruction is the observation chart, in which the writer makes five columns (one for each of the five senses) and lists all the sensory images associated with the topic. Composition instructor Ed Reynolds [in Confidence in Writing, 1991] writes: Its columns force you to pay attention to all of your senses, so it can help you do a more thorough, specific observation. We are accustomed to relying on our sight, but smells, tastes, sounds, and touch can sometimes give us more important information about a subject. (Tom C. Hunley, Teaching Poetry Writing: A Five-Canon Approach. Multilingual Matters, 2007) Pre-Writing Strategies ExpeditioList, Listicle, and SeriesOutline

The Connection Between Senses and Reality in The Matrix,...

The popular movie The Matrix, Descartes Meditations on First Philosophy and Plato’s The Republic have more in common than you would think at quick glance. They all examine the theory that our world is an illusion and question the connection between our senses and reality. The clearest similarity between these works is the doubt of the reality of our world and questioning the reliability of our senses. Descartes proposes that we are dreaming and everything we experience is just an illusion. Plato also proposed a similar idea, a hypothetical situation of a cave where men lay bound up, able only to perceive the shadows of figures on the walls as they passed by. In the movie The Matrix, a mega computer has taken over the world and controls humanity’s minds in a virtual world. These three works are all asking a very similar question, is the world we perceive as reality actually real? Is it all just a dream or an illusion put on by some higher being? Plato, Descartes, and the makers of The Matrix introduce these scenarios where we are being controlled by something outside of ourselves that ordains what we perceive to be real. The difference in these works is not the question that they ask but how they answer the question. In The Matrix, it portrays a society that has been fooled and taken over by a computer, while a small group has come together to fight its control, they realize the world they have known is not reality and have managed to escape Matrix’s grasp. In both

Monopolistically Competitive Markets

Question: Write a Report on Pricing Stategy of your Choosen Company. Answer: Introduction Economic analysis is quite important in pertaining the prising strategies that are to be associated by a firm. It helps the firms to arrive at the proper execution of strategies, thereby maintaining their business in the market. The pricing strategies associated to a firm depend upon its competitive market. The magnitude of competitiveness in the market helps in analysing the policies and the plans to be executed, under which the particular referred firm would survive in the market (Nikaido 2015). In order to analyse the market, it is quite necessary to understand the type of market in which the firm prevails. There are two forms of market, namely, perfect competitive market and imperfectly competitive. Each market has its own attributes depending upon which the optimum price in the market is charged. In order to analyse the pricing strategy of such market, in this report the case of monopolistically competitive market have been taken into consideration. Monopolistically competitive markets are a type of imperfectly competitive market, where each firm has close substitutes to each other (Haaland and Venables 2016). To analyse the market in an extensive way, McDonalds have been chosen s the appropriate firm to be taken into consideration. The framework of the report has been divided into subparts, where the next section deals with the background of the company. It provides the details of McDonalds regarding its products and the competitors in the market. Following that section is the economic analysis, where the attributes of the company has been explained related to the monopolistically competitive market. The demand curve analysis is stated for that particular firm followed by the pricing strategies faced by the firm. This would help in deriving the optimum price in which the company must sell its products. Background of the Company Company Background - McDonalds is one of the oldest fast food chain originated in America since the year 1940. The organization has done business internationally with its wide varieties of food products. McDonalds has extensive fast food products to be offered to the consumers, where it faces a favourable demand among them. The firm has been quite flexible with the change in the habits of the consumers. In response to the changing tastes of the consumers, it has adopted new products along with its old ones. This has provided the consumers to select from a wide range of product to be offered by the company. Business Objectives the business objective of mcdonalds is to be the favourite place for the consumers in the fast food industry. In order to achieve this aim they have created a global strategy plan. This global strategy plan is called the the plan to win. This plan focuses on creating customer experience. Mcdonalds has a total market share of 21.7% worldwide, in the fast food industry. The annual sales for the year 2016 were 24.62 billion for the organization globally. Competing Companies - Being in the fast food chain business internationally, McDonalds faces tough competition from numerous other organizations such as, burger king, KFC, pizza hut and wendys. These firms are equally popular among the consumers worldwide as mcdonalds. Competing Products- being in the fast food industry, all the products of the firm are quite competitive in nature. all the competitors of the firm sell products that are closed substitutes of each other. Company Strategies - in order to attain the objective of the firm, mcdonalds implements various pricing strategies that would help them in obtaining a sustained price for its products. This price would help the firm in giving a tough competition to its competitors and maintaining the demand for the products among the consumers. McDonalds aims at spreading its business worldwide and gaining the market power in the competitive environment. The organization would be successful in attaining its aim by following the pricing strategy schemes associated to the market in which its prevails (McDonalds.com 2017). Economic Analysis Demand Curve Among the various competitive products that are produced in the firm, one of the most popular items among the consumers of mcdonalds is their happy meal boxes. Happy meals are considered as one of the most economical products of the organization that would enable the consumer in choosing many products rather than one. McDonalds uses the strategy of product binding in order to increase their sales of various products as one. Real product data the happy meal product of mcdonalds consists of choice of certain products in a box. It focuses the small children who come to their stores. The choice of the product ranges from country to country. This product has been introduced in the year 1979. Mix of competing and own product volume happy meals of mcdonalds is considered as one of the most vital products of the company that accounts for almost 10% of their revenue. On looking at the popularity of the product, other competitors like burger king has also launched their own happy meal bags. Yet, the popularity of the product has not been able to reach the peak as mcdonalds. In order to attract the customers, the competitors have been successful in maintaining a low price approach. Public data- the demand for happy meals has reduced to a certain extent due to the availability of cheaper competitive products in the market that is equivalent to the level of the referred product. Conversations with experts- on conducting the research work, it is quite vital to attain knowledge from the managerial heads of the firm. the managerial heads has stated their costs of production, fixed and variable costs associated with the product, along with the current prices charged on the product. this has provided with ample information regarding the pricing structure of the firm. The demand curve faced by the monopolistically competitive market is downward sloping. Hence, it could be stated that the demand curve of McDonalds is downward sloping in nature. The demand curve of the firm supports the law of demand. According to the law of demand, as the price of the product increases, the quantity demanded of the product decrease, whereas, as the price of the product falls, its quantity demanded increase, other factors affecting demand remaining constant. The slope of the demand curve faced by McDonalds has several implications (Parenti, Ushchev and Thisse 2017). McDonalds, being a monopolistically competitive firm, aims at maximising its profit when they produce at a level where the marginal costs equals the marginal costs of the firm. With a negatively sloped demand curve, there are chances for the prices to change thereby exceeding the marginal costs (Blanchard and Kiyotaki 2017). This reduces the consumer surplus of the products in the short run. The downward sloping demand curve faced by the firm can be shown in figure 1 below. Pricing Strategies Price Demand (billion) Revenue (billion) Fixed Cost (billion) Variable Cost (billion) Profit (billion) $4.5 80 $360 $50 $162 $148 $4 100 $400 $50 $200 $150 $3.5 120 $420 $50 $270 $100 $3 140 $420 $50 $310 $60 $2.5 162 $405 $50 $350 $5 For a company like McDonalds it is quite essential to set a price of their product that would generate them long run stability. Hence, the price must be set at such a place where they could incur normal profit in the long run. The organization should be efficient enough to compete with the rivals in the market. This would provide them with the incentive of capturing the market and generating sales of their products throughout. Higher prices would make them less competent in nature as there are many more fast food restaurants present around the globe (d'Aspremont, Gabszewicz and Thisse 2013). The pricing strategy to be followed by the firm should be quite efficient in grabbing the attention of the consumers and maintain the loyalty of the consumers towards themselves. Depending upon the table provided above it could be stated that the maximum profit that could be attained would be at the price level $4 per meal pack. Yet, the demand at such a price is quite low for the company. Hence, in order to attain the level at which both the companys profit and the demand for the products could be optimum would be field at $3.5. Conclusion Monopolistically competitive firms are the one who produce goods that are close substitutes of each yet, with some form of product differentiation in them. This provides them with the incentive to charge the price for their product depending upon their market power. Depending upon the demand criteria for the happy meals of mcdonalds and the pricing strategies depending upon such demand values, it could be stated that the maximum sales of the organization would be attained at a point where the price of the product would be the minimum, i.e., $2.5. Yet, this point would not be efficient enough to generate the maximum revenue for the company. The price where mcdonalds would attain the maximum revenue would be fixed at $4. It could be stated that the price point for the firm to attain the minimum cost would be when they would be generating the least products in the market due to decreased demand rate. In order to attain the optimum prevailing price for the products, it could be stated th at the organization must choose $3.5 as the appropriate one. At this price the revenue earned by the firm would be $420 billion, where as their cost would be $320. It would help the organization in achieving a profit of $100 billion, which would be lesser than the profit could have been achieved with greater prices fixed yet, they would attract the demand for the products. References Bertoletti, P. and Etro, F., 2016. Monopolistic competition when income matters.The Economic Journal. Blanchard, O.J. and Kiyotaki, N., 2017. Monopolistic competition and the effects of aggregate demand.The American Economic Review, pp.647-666. d'Aspremont, C., Gabszewicz, J.J. and Thisse, J.F., 2013. On Hotelling's" Stability in competition".Econometrica: Journal of the Econometric Society, pp.1145-1150. Dixit, A.K. and Stiglitz, J.E., 2017. 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