Characteristics of Money to Function Effectively

Characteristics of Money to Function Effectively Explain the characteristics required by money if it is to carry out its functions effectively. What is money? Money is primarily a current medium exchange, for a person to buy goods and services from other person in the form of coins and banknotes (Freeman, 2012). It is critical to have a clear definition between money and wealth. In general, people may tend to use the term â€Å"money† as a synonym for â€Å"wealth†, such as Warren Buffet has a lot of money. However, economists clarify that these two terms are not in fact synonymous. In the side of economics, â€Å"money† is specifically used to refer to the currency, but not an individual’s wealth or assets. Yet, technically anything can be served as money as long as it possesses the following four main functions (Beggs, 2014). First of all, it must have the primarily function of serving as a medium of exchange. People need an item that is able to act as money to undergo the activities of buying and sel ling goods and services. In other words, an item that considered as money must be widely being accepted as payments for goods and services (Beggs, 2014). Money has made the transactions easier as everyone is willing to trade money for goods and goods for money. However without money, the transactions must be conducted through the barter system where exchange can only happen if there is double coincidence of wants. This system will cause inconvenience to the people as they cannot buy what they want or need or the seller may hard to sell his goods unless double coincidence of wants happens. Hence, we can conclude that money has eliminated the inconvenience which was faced in barter transactions by eliminating the double coincidence when purchasing or selling goods and services (UPADHYAYA, 2012). People can buy what they need from the seller and inversely seller can sell all the goods and services to people who need. Besides that, money is able to create efficiency as it eliminates unc ertainty regarding what is going to be accepted as payment by various businesses. With a generally accepted medium of exchange, trades are easier, more efficient, and resources can spend more time doing production (Money Functions, 2000-2014). Besides that, an item must work as unit of value or standard value in order to consider as money. Money is being used as the common benchmark to designate the prices of goods throughout the economy (Money Functions, 2000-2014). Money provides and measures various goods and services with different value that produced in the economy, in the terms of monetary unit. Without this function, money is extremely hard to identify since there is no value in between, and also hard to make a decision on how much volume of goods and services should be given in exchange of a given quantity of a commodity in a barter economy (UPADHYAYA, 2012). However, money has solved this problem by letting people to know the exact value or price of a good. It enables both the suppliers and buyers to make wise decisions about how much to supply for the goods and how much to purchase in exchange (Function of Money, 2013).

Radiotherapy Essay Example | Topics and Well Written Essays - 500 words

Radiotherapy - Essay Example is an integral part of the process of treatment, and must take into account the combined effects of these other therapies, as well as the effects of radiotherapy. Understanding the complex organisational and unique interprofessional context of radiotherapy care is essential. Discussion: According to Gronefeld; Cornuelle (1998:p.xxiv), there are several criteria in the Radiographer’s code of ethics, and in the statements of professional conduct developed by the College of Radiographers. These statements have made a deep impact on the radiographer’s attitude and behaviour in the fulfilment of his work; and in the guidance adopted from these important principles, in the clinical departments. We have noticed physicians, technologists, nurses, aids and others in the health care team, treating and caring for patients, and some of them â€Å"merely go through the motions† (p.1). Yet there are some members in the health care team that â€Å"go the extra mile† for their patients. They are the true professionals who try to understand and address the patient’s concerns and anxieties, they make pleasant conversation with the patient as they go about doing their work, and they treat each patient with the dignity and respect that they deserve. Health care workers who do their duty, staying focused on the patient’s work as their main priority, and do not get distracted by others, are also behaving as professionals, true to the Statement of Professional Conduct that is used as the guidance for behaviour and conduct. worker appraoaches the patient, addressing them by their name, speaks in a well-modulated voice, and attends to the patient, giving them her full attention. This is also professionalism of a good standard. If one of the newly appointed , freshly graduated radiolographers hired by the radiology department has an attitude of trying to intimidate and demean his co-workers, he will be avoided by all the other health care workers. The other radiographer is seen

Theological Reflections Research Paper Example | Topics and Well Written Essays - 1750 words

Theological Reflections - Research Paper Example Rather, they require the servants of Christ to utilize different degrees of commitment2. The forthcoming co-worker appreciation dinner will require increased levels of commitment that seek to go beyond charity. Rather, it will be important to recognize the workers for their unwavering commitment to the Sisters of Mercy’s mission, their hospitality, and their service. As Catholic employers, Mercy has the ability to show support for their poor and lowest paid co-workers through showing preferential option for the poor and vulnerable, as well as showing respect for their dignity. The Preferential Option for the Poor and Vulnerable The theological concepts of dignity and providing preferential treatment for the poor are concepts that have always been at the forefront of our core values and mission at Mercy. Providing preferential treatment for society’s poor also applies to lowly paid co-workers at Mercy, as well. It is our belief that touching the needy is akin to touching Jesus Christ. The last judgment has an essential role to play in our traditional Catholic faith; especially because the church teaches that we stand judged by what we elect to carry out towards the prisoners, homeless, sick, thirsty, and hungry3. In modern times, the Church teaches us the same through the preferential option for the poor. ... We are asked to do this by the church and failure to do so will break the required balance that holds society as one, which will be to the detriment of the whole society4. Preferential treatment for the poor is referent to the trend of giving preference to the life and wellbeing of society’s powerless and poor, as we are taught by the commands of God, the Church, as well as righteous people and prophets. Christ himself spoke to us about judgment day, contending that God will seek to know from each one of us what we did in aid of the poor and the needy5. He told us that whatever we do for the least of his brothers, we did for him, which is also reflected in the canon laws of our Mother Church. Catholic faithful, the law tells us, are obliged to go out and promote justice for all in society and that we must remain mindful of the Lord’s precept to help those who are in need and poor. Nevertheless, how does the appreciation dinner at Mercy accomplish this? The quoted doctri ne asks us as Catholics to show compassion and solidarity with the poor through our deeds, as well as our prayers. For this reason, when instituting any measures at Mercy, it is essential that we always ensure to keep at the forefront the preferential option for the poor. The doctrine’s implications are that any society’s, including Mercy, moral test lies in how we treat our poor and vulnerable members6. We are asked to ensure that the policies and activities at Mercy must factor in the vulnerable and the poor. Pope Francis has begun his journey with teachings on why the Church must now become one with the poor. He has taught love for the needy, the sick, prisoners,

Service Quality of Sports Centre Essay Example | Topics and Well Written Essays - 2250 words

Service Quality of Sports Centre - Essay Example The interview focused n 5 different factors of service quality level which are tangibles, reliability, responsiveness, assurance and empathy. In order to capture how the five different factors measure up, 21 different types of questions are generated. These questions are marked using the Likert Scale. Then depending upon the relative importance of the five dimensions, the preset 21 questions are rearranged and marked and weighted accordingly. In order to produce better statistical report, the sample composition is analyzed. In order to analyze the composition of the sample, descriptive statistics like bar diagram, cross tabulation, pie charts and correlation statistics are applied (Bailey and Pearson, 2003). These tests are applied on demographic characteristics of the respondents or the fixed factors of the respondents. The next section of the analysis reflects upon the assessment of the importance of each dimension of service quality as perceived by the customers. In order to analy ze two types of tests are conducted, one is the factor analysis or the factor reduction method and the other one is the descriptive statistics analysis (Baroudi, 2003). ...The next step of analysis involves testing the various aspects of service performance. The various aspects are measured on two different ways. One involves the direct recordings on the Likert scale and the other on is the derived rating after adjusting the readings according to the relative importance or weight (Bentier and Bonett, 2008). These two types of readings are tested using the principal component analysis. In the last stage cross tabulations are done. This cross tabulation indicates the level up to which the satisfactions vary according to the characteristics of the user. 1. Sample composition The sample composition is analyzed by using cross tabs and simple pie charts, bar diagram and correlation statistics. The pie charts are used to show the composition of the male and female and the composition of th e type of people from each subject area. Fig 1: Male and female composition Source: author’s source It is evident from the diagram that the study included more number of males and the number of females. The male percentage is 75%, while the female percentage is 25%. The next analysis is the examination of the crosstabs between frequency of use and gender. Fig 2: Bar Chart Source: author’s source The users among male students show higher frequency than the users among female. There is one very important point in this analysis. The number of non users in male is significantly more than the number of users among male. Among male most of them used the sports centre twice a month, while users among females most of them used it only once.

Logistics and Webiste Hosting Essay Example | Topics and Well Written Essays - 250 words

Logistics and Webiste Hosting - Essay Example For a novice entrepreneur, venturing into the corporate world, this not only amounts to added burden, but is also far more time-consuming. Both of these factors contribute negatively to the potential survival and subsequent growth of the business in the future. As an entrepreneur I need to be looking for ways to minimize cost and maximize efficiency, and hosting my own website is at the opposing end of this. With a business venture in its embryonic stages, it is not wise to be investing any unnecessary time or money when cheaper and effective alternatives are readily available. I know from experience that using a web-hosting website is convenient and cost-effective. 1and1.com is one of the many available service providers. All I had to do was sign up and register my unique domain name like logisticspartner.net, and now my website will be hosted by their server at modest charges. They also provide the opportunity to buy all similar domain names for example logisticspartner.org or logisticspartner.co to ensure the originality of my brand name. The only effort I needed to make was to verify the authenticity of the service provider, and to look for technical services compatible with my business type. A logistics business should not expect any extraordinarily heavy traffic therefore a service with a reasonable bandwidth and storage capacity should work just fine (Top10bestwebsitehosting.com, 2014). To top it all off, web-hosting websites provide customer assistance as well. Thus, as a business owner who is not very well equipped with technical expertise, I woul d prefer to use a web-hosting service instead of hosting my own website. Top10bestwebsitehosting.com. (2014). The top 10 web hosting companies of 2014. [online] Retrieved from: http://www.top10bestwebsitehosting.com/index.php?kw=web%20hosting&c=37398489468&t=search&p=&m=e&adpos=1t1&a=2710&gclid=CIDEtKK3nbwCFUVa3goduz0A6g

Legal Issues in Education Essay Example | Topics and Well Written Essays - 750 words

Legal Issues in Education - Essay Example It also includes the infrastructure contributing to the mission of educational institutions (Aby & Kuhn, 2000). It is, therefore, important that institutions uphold this freedom and protect it at all costs. Academic freedom entails a number of liberties. The university lectures, for example, have security of tenure. This means that they have the freedom to teach their students as they best deem right provided that they do not go beyond ethical boundaries. It also means that they have the freedom to express their thoughts, as well as, seek to undertake research in any field without interference from the university leadership (Andreatta, 2012). In addition, the freedom gives student the freedom to choose what to study in college. This means that the students are not barred from choosing what they can study. The Civil Rights Act and the bill of rights, for example, protect this freedom (Andreatta, 2012). The students also have no cause to be troubled by the university dictating on what they wish to study. They have unions that uphold their rights and interests. Nursing education can be looked at from two angles. It can be analyzed from the standpoint of the teacher or educator and from the angle of the student. For the purpose of this article, both the student angle as well as the teacher’s angle will be the focal point. On the side of the student, the academic freedom implies that the students’ interests’ are placed in consideration when the curriculum is being developed (Iwasiw, Goldenberg & Andrusyszyn, 2009). According to Iwasiw et al (2009), the freedom would allow the nursing faculty members to determine the curriculum. This, however, must be evaluated by a team of competent people who have experience in the field. Giving the faculty members’ unlimited freedom would make them teach substandard education or out of date information. With due respect to this, nursing education curriculum is a

Personal Healthy Living Plan Essay Example for Free

Personal Healthy Living Plan Essay