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Leontief Lover's Song of the Week:
ARTIST:Ryan and Chad ft. MLB PLAYERS
SONG: I Don't Dance (MLB PLAYERS REMIX)
ALBUM: High School Musical 2
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| Zerge Zandueta
20 years old and counting, this dude loves sports and videogames. he hopes to contribute something good to society one day and make other people happy
"Humanity is the virtue of a woman, generosity that of a man." - Adam Smith
Kathryn Pua
this perky girl never fails to brighten up anyone's day. very friendly, approachable and outgoing, this person enjoys going out with her barkada, though an 'introvert' at heart
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Raymond Lee
a 23 year old korean who makes all the girls go "ga-ga." 'nuff said. ;)
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Carlo Medina
hypnotic on the hardcourt, this basketball icon is not only good at putting 2 on the board but 3 on the report card
"In the long run we are all dead." - John Maynard Keynes
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| Learning Corner |
Eco Lesson of The Week : Determinants of Supply and Demand
The intersection of the supply (upward sloping) and demand (downward sloping) curves is called the equilibrium pt. This point represents the price at which goods are sold and purchased at the market. However,
this equilibrium point may change depending on a shift by the curves. The curves may shift one at a time or at the same time both either upwards or downwards. An upward
shift by either curve would raise the price, while a downward shift would lower it.
What we want to know this week is what causes these shifts in supply and demand, called their determinants.
The Determinants of Supply
1. Costs of production
2. Profitability of alternate goods in supply
3. Natural occurences
4. Expectations of future prices
5. Profitability of goods in joint supply
6. The number of sellers
The Determinants of Demand
1. Tastes, fashions, preferences
2. The number and price of related goods
3. Income
4. Expectation of future prices
5. Population
Reference: http://www.cr1.dircon.co.uk/pdffiles/determinants.pdf
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| Cartoon Corner |
By: Paul Combs (The Tampa Tribune)
By: Clay Bennet (The Christian Science Monitor, Boston)
By: Thomas Boldt (The Calgary Sun, Alberta, Canada)
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| Friday, October 12, 2007 |
| Shoe Me The Money |
Shoe Me The Money
By Carlo Medina
Technology. I view this word as synonymous to profit. Today the more advanced the discovery regarding whatever product, the greater the appeal to consumers. The higher the technology, it usually results to greater patronage of buyers. I find it sometimes funny just seeing products portraying themselves as scientific discoveries but in truth they are just the same old thing, just with a better ad campaign. On the other hand, these campaigns are effective for firms and I believe that I would want to enter in this type of business in the future. I think it would be a great way of infusing Chemistry in my quest to gain profit for myself as I enter the Shoes Business. Being a Management Economics Major, I think I have the tools to become a Monopolistic Competitive Firm.
Management Economics targets an area in business and industry wherein we are put in a position that is flexible for us. Being in an almost double-major setting, we are groomed to dwell in the realms of Management, but even more focused in being economists. We are challenged by the Ateneo to find new ways of dealing with the Economic Crisis by finding alternatives to enhance the stature of our society today and especially in the future. By being equipped with Management skills, we are now tasked to use our knowledge in Business to survive in our already devastated economy. It is with great pride that I am here in the Ateneo which has provided me with the opportunity to innovate for my country. Someday, I know, I could make a difference if I just focus on the tasks I will be facing.
Chemistry in the Ateneo also holds its reputation as one of the best Chemistry Programs in the country. Recently, an Atenean topped the Chemistry Board Exam, and it just shows that the school values the Sciences as well. It is important to keep in touch with Scientific Advancements, whether it is in Chemistry or some other field of study. The important thing is you are aware of what scientific adjustments you have top make especially in Business and Economic decisions. Almost all of our establishments thrive on research and development; and they are the ones who have been gaining maximum profit.
I, for my part, am well aware that my situation in the Ateneo is just a training ground for what’s really out there. Having done so many mistakes in my college life I am still full of hope that I can pull this thing through. I believe that whatever happens to me here in school, it is only the beginning of my future. In that future, I need to have a weapon, a driving force to be able to survive the market. And how do I do this? I need to discover something, or to innovate and improve an already withering industry. But what can I do? There have been so many inventions and innovations ahead of me. And here comes Chemistry to save me.
I have to do research and find new ways in order to be successful. I have always dreamed of entering the shoe business, because of my love or if you want to call it “addiction” for rubber shoes. I am a basketball player, and since I was little I found myself developing a sense of love and affection for my shoes. I would find ways to change the look of my kicks, make its useful life much longer, and even enhance its usage performance. I would really love to find ways of being able to become the Pioneer when it comes to rubber shoes. I want to put it in a situation wherein I am the only business who can literally “pimp” shoes.
There have always been problems with regards to the cleaning, improving, and sustenance of shoes. With these three problems, I would like to research or even discover chemicals and substances that could make these tasks easier. With regards to the cleaning of the rubber shoes, there have always been sprays and liquids which are not that effective as primary cleaners. There are whitening foams and cleaning liquids, but I believe they are not strong enough especially in cleaning and whitening in proportion to their high prices. I would like to find a certain chemical that can really be powerful and effective which also can be of no harm but very affordable. Along comes a cloth that can survive the wear and tare of these chemicals. This cloth must be tested thoroughly, and Chemistry provides me a means of doing so. I’m the “pimping” part of my plan, I would like to create a new cloth or rubber skin that can withstand the pressures of any sport. Of course, I would still have to put into perspective the importance of the design and the look of the shoe. I believe that your shoes are even crucial for your performance because without them it’s like not playing at all. By using Laboratory experiments and different tests to discover the said material, I think I can be more effective as a seller. Sustaining your shoe however, is still the biggest problem for consumers. A useful life of a shoe is 1-3 years, depending on the usage; whether it is in sports, work or even in casual wear only. I would like to develop a protective sheet that can protect the shoes from whatever outside factor especially when not in use. Usually the damage in shoes happens when you are not wearing it. The colors fade, the cloths become weak, and the metals rust all due to chemical reactions.
 Because of the said reasons, I believe that Chemistry can really ignite my dream of entering the shoe business. It’s what I want to do in life, and I know that someday I would eventually help me change the Business and Economic worlds. I do believe that I can really make a difference in my field. With the enthusiasm and creativity I have, I can venture into this world of uncertainty. It is very difficult to try something especially when you don’t have enough experience yet. Fortunately, I am part of the Ateneo System which strives for “the more” and at the same time instills in its students the need to be a person for others. By trying to earn with my shoe business, I can still walk through the path of being a great help to others. Below are the details of my plan, wherein I want to use different solutions, materials, elements and compounds in order to achieve my desired dreams.
Shoe Material I want my material to be strong, sturdy and efficient. But of course, the rubber material should still be in there for flexibility and comfort. I believe I must use 3 different compounds in order for this to work. The first compound of course, is rubber. The usual rubber compounds must be used to achieve the already obvious efficiency in any sport or activity. The second compound is what I believe must be broken into a more flexible form, is platinum. It is the strongest metal, and I believe that even in a thin sheet form it can still protect the shoe from wear and tare. This platinum sheet is the key for the shoe’s survival. The third compound however, is still unknown to me because I have to experiment more in order for me to succeed. The purpose of the third compound is to combine the platinum and rubber materials in order for them to be in tact and produce the desired results. Laboratory work is much needed in this field.
Inner Sole Material Comfort for the inner soles of people has always been an issue for shoe companies. They have been dealing with feedbacks from consumers that even though the designs are magnificent, the safety of each person is always in jeopardy. It is also a huge problem that some shoes are not fit for other people, like the flat-footed and in-born abnormalities of people. I firmly believe that they must be given a chance to play competitive sports. I want to develop an inner sole wherein the shoe will adjust to the wearer; not the other way around. As the person wears it, the inner sole will be able to mold itself into place, allowing him or her to achieve maximum performance. I will have to develop a certain substance that can do this. Maybe a combination of clay and plastic? Maybe a new compound; who knows? But I will do my best to search for this new technology.
Protective Bag/Container Based on my experiences, as well as through observations, I have seen that damages to shoes most of the time occur when they are not in action. Storage is a very big problem, especially for athletes, who use their shoes every single day at maximum level. Other outside factors such and other household pests bite and damage the shoes. Even the development of rust and scratches caused by the levels of oxygen around the house affects the good condition of our shoes. Here comes in my idea of preparing a bag and storage receptacle for the said shoes. I want to put these products in a shoe-friendly environment wherein everything is controlled. Maybe it can be done through the help of a sealed or compact container. I want to develop a substance or material that can do these things. It can be imagined as a “zip-lock” for my shoes.
Cleaner I know there is no possibility that I can bring the shoe back to its original condition when I clean it, but I believe that I can improve the cleaning products out there in the market. I believe that people today have less focus on the cleaning task, that’s why we don’t get the outputs we want. Maybe a self renewing foam or liquid can be put into the product to make it effective. It covers the main material of the shoes to help it repel water, dirt and other outside factors. This product of course must be user-friendly and is not harmful to kids and the environment.
I have shown you the connection of my course to the wonderful world of Chemistry. Science must always be beside you when you try out your luck out there, whatever your profession might be. Technology presents itself better and completely differently after as time passes by and I need to use this task in my everyday life. New technology means more revenue for the discoverer. Being an economist-businessman this is my secret weapon to success. |
posted by Leontief Lovers @ 3:55 PM  |
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| About Me |
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Name: Leontief Lovers
Home: Manila, Philippines
About Me: people wonder why we are called leontief lovers. it's simple, in eco, there is a canonical form of utilty and production function called Leontief Preferences / Technologies. In a two good/input world, you always would need the other good/input in order to remain satisfied/have the ability to produce... in other words, you will never substitute one good for another, you need to consume/use both goods at a fixed proportion at the same time... LIKEWISE, in our blog, WE WILL NEVER TRADE NOR SUBSTITUTE ECO FOR ANOTHER!
See my complete profile
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| Books
"The World is Flat" by Thomas Friedman
"Confessions of an Economic Hitman" by John Perkins
Movies
"A Beautiful Mind"
"Wall Street"
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| Fun Zone |
Calvin and Economics
Jokes
An economics professor and a student were strolling through the campus.
"Look," the student cried, "there's a $100 bill on the path!"
"No, you are mistaken," the wiser head replied. "That cannot be. If there were actually a $100 bill, someone would have picked it up."
Feudalism: You have two cows. Your lord takes some of the milk.
Socialism: You have two cows. State takes one and gives it to someone else.
Communism: You have two cows. State takes both of them and gives you as much milk as you need.
Bureaucratic Communism: You have two cows. State takes both of them and gives you as much milk as the regulations say you should need.
Bureaucracy: You have two cows. State regulates what you can feed them and when you can milk them. Then it pays you not to milk them. After that it takes both cows, shoots one, milks the other and pours the milk down the drain. Then it requires you to fill out forms accounting for the missing cows.
Fascism: You have two cows. State takes both of them and sells you milk.
Nazism: You have two cows. State takes both of them and shoots you.
Liberalism: You have two cows. State dosen't care whether you exist, let alone your cows.
Capitalism: You have two cows. You sell one and buy a bull.
PRICE IS IMPORTANT!
(disclaimer: may be a little off-color)
"My Dear, would you go to bed with me for a million dollars?"
"Well, yes, I guess I would."
"How about $100?"
"What kind of person do you think I am?"
"My Dear, we have already established that. We are merely haggling over the price!"
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