SUPPLY AND DEMAND Essay Example | Topics and Well Written Essays - 1000 words

SUPPLY AND DEMAND - Essay Example after awhile, as the market continues to flood with milk suppliers seeking to take chance of the soaring demand, competition among the suppliers will result in customer retention strategies such as lowered prices and better quality product. The overall supply and demand, however, will remain stable in line with this medical research finding. This is assuming that another cheaper alternative to milk, that is equally beneficial to the health of bones, is not touted by such scientific studies. Mad cow disease (bovine spongiform encephalopathy) is a transmissible, generative, deadly and slowly progressive disease of cows which is caused by a prion that can also cause brain and CNS diseases in humans who consume products and milk from these unhealthy cows. The causative agent is not removable by heating or thorough cooking and therefore in case of an outbreak of the mad cow disease, the demand and sales of local milk will take a considerable tumble (with the demand curve shifting to the left). The weak and meager supplies come from the fact of reduced productivity of sick cows and health inspection regulations. The weak demand will result in very low prices of the commodity. This is because the disease is known to progress slowly and therefore in an outbreak situation the consumer will treat with great skepticism even those who claim their cows are healthy. Assuming a trusted and health approved foreign supplier comes in with their milk; such milk will be sold at very high prices (because of scarcity of the product and other costs such as transport) (Sloman & Sutcliffe, 2003). Their product will be on high demand thus raising the need for higher supplies of the foreign brand. There will equally be increased demand and supply for milk substitutes such as almond milk which will also portend higher prices for the substitute commodities. Almond milk is a common cow (dairy) milk substitute obtained from almond. If the price of almond decreases, the consumers will go for

Morality, Ethics & Human Behavior and Determining Moral Behavior Essay

Morality, Ethics & Human Behavior and Determining Moral Behavior - Essay Example These rules are applicable for a single class of human action like political ethics, social ethics and medical ethics. Values are the set ethical ideals which are being created before developing an ethical program (ERC, 2009). A person’s value system helps to built moral beliefs, thus they are integral part of ethical system. Ethical systems are moral theories or philosophies through which one approaches toward making moral decision. These approaches are universal and can be divided into certain categories like Utilitarianism and Deontology. All these ethical systems follow rigid rules and they are highly regulated; these systems are reliable and dependable for asserting moral behavior, they reflect moral thoughts and they are logically impartial (universal), they does not have any value until and unless they are employed thus they not self-servicing. Both teleological and deontological systems are the two most common theories which provide conflicting answer regarding morality. Teleological system takes into account result of the act. Thus consequence of an action is taken into consideration while making decision, in spite of the intention behind the act. Deontological system takes nature of the act into consideration while judging an act, thus they are duty based. If intention behind a decision is morally correct, then what ever be the outcome, it will be considered as a moral decision (White,