I juz realised how weird my previous post was. But I have no recollection of what happened during the time of posting.
Anywho, I'm so screwed this March Hols. "Busy"
There's a resemblance between Psychiatrist - Peter (Forgetting Sarah Marshall) and Empire State of Mind (Jay-Z feat. Alicia Keys)
Just my $0.02
Monday, March 15, 2010
Thursday, March 11, 2010
Be Gone.
Away with you.
I wanna be free.
But wait, I am.
Or am I?
No one is ever free.
Free.
I hate mosquitoes.
Toe-mae-toe
EXAMS ENDED!
But nothing has changed. It has become worse actually.
I wanna be free.
But wait, I am.
Or am I?
No one is ever free.
Free.
I hate mosquitoes.
Toe-mae-toe
EXAMS ENDED!
But nothing has changed. It has become worse actually.
Tuesday, March 2, 2010
Economics 101
I love Econs. The theories are so practical.
"How so?" You ask.
For example, I can say that the Economic theories of Division of Labour and Specialisation can be applied in our everyday life.
Let 'our everyday life' = School
This means that the producers would be the students, and the consumers also the students
(Consumers & Producers = Students)
Division of Labour: When labour is divided, there will be more production. In this context, the product could be homework, money, or a skill. So the students, the consumers, would want to "buy" or get the products. In this case, every student would have something to specialise in, so that the production is more efficient.
Specialisation: This is important as when labour is divided, each worker would produce more efficiently when they have mastered their job. So the students in this case would be the producers, who specialise in a certain production of goods that the consumers, also the students, would want to "buy".
Example: If student A always does his homework early, he can be considered a producer of homework. This means that if only him, or maybe a group of students do their homework, the other students can "buy" or get the homework, in exchange for something. Since money is not a medium of trade, normally skills are 'traded'. Student B is good at playing the guitar, so in exchange for homework, he agreed on teaching Student A how to play the guitar. Productivity is increased as only the "masters of the production" do the specialised labour. The homework producer does not have to learn the guitar himself, and same for the guitar player. Everyone is happy.
Simple enough? To further understand this concept, I shall give another example, this time we are gonna discuss about an economy, or class, without division of labour.
Example: Student A needs to learn the guitar by tomorrow, as he wants to serenade his girlfriend. Student B needs to finish his homework, coz obviously he did not do it. Student A tries to learn the guitar himself and Student B tries to do the homework himself.
Result: Both students do not get the job done by the dateline. Productivity is low.
Example: Student C is a multi-skilled student. He is able to play the guitar and do homework himself. However he is not a master in any of the skills. If he does the same work as Students A & B, he will take twice the time to finish each of the jobs. Thus if Student A takes 1 day to do the homework, and same for Student B, Student C will take a total of 4 days to finish both jobs. If Students A & B can help him finish those tasks, he can finish the tasks in 1 or 2 days. Productivity is low if there is no specialisation, where one worker has to do 2 jobs instead of mastering 1.
Capishe?
I am Student C unfortunately and no work is done. I will enlighten you about how Economics can explain the existence of religion. I'm open minded. Don't kill me. Please. You know you'll miss me.
"How so?" You ask.
For example, I can say that the Economic theories of Division of Labour and Specialisation can be applied in our everyday life.
Let 'our everyday life' = School
This means that the producers would be the students, and the consumers also the students
(Consumers & Producers = Students)
Division of Labour: When labour is divided, there will be more production. In this context, the product could be homework, money, or a skill. So the students, the consumers, would want to "buy" or get the products. In this case, every student would have something to specialise in, so that the production is more efficient.
Specialisation: This is important as when labour is divided, each worker would produce more efficiently when they have mastered their job. So the students in this case would be the producers, who specialise in a certain production of goods that the consumers, also the students, would want to "buy".
Example: If student A always does his homework early, he can be considered a producer of homework. This means that if only him, or maybe a group of students do their homework, the other students can "buy" or get the homework, in exchange for something. Since money is not a medium of trade, normally skills are 'traded'. Student B is good at playing the guitar, so in exchange for homework, he agreed on teaching Student A how to play the guitar. Productivity is increased as only the "masters of the production" do the specialised labour. The homework producer does not have to learn the guitar himself, and same for the guitar player. Everyone is happy.
Simple enough? To further understand this concept, I shall give another example, this time we are gonna discuss about an economy, or class, without division of labour.
Example: Student A needs to learn the guitar by tomorrow, as he wants to serenade his girlfriend. Student B needs to finish his homework, coz obviously he did not do it. Student A tries to learn the guitar himself and Student B tries to do the homework himself.
Result: Both students do not get the job done by the dateline. Productivity is low.
Example: Student C is a multi-skilled student. He is able to play the guitar and do homework himself. However he is not a master in any of the skills. If he does the same work as Students A & B, he will take twice the time to finish each of the jobs. Thus if Student A takes 1 day to do the homework, and same for Student B, Student C will take a total of 4 days to finish both jobs. If Students A & B can help him finish those tasks, he can finish the tasks in 1 or 2 days. Productivity is low if there is no specialisation, where one worker has to do 2 jobs instead of mastering 1.
Capishe?
I am Student C unfortunately and no work is done. I will enlighten you about how Economics can explain the existence of religion. I'm open minded. Don't kill me. Please. You know you'll miss me.
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