Microeconomics Essay Example | Topics and Well Written Essays - 1000 words - 6

Microeconomics - Essay Example The ecological paradigm emphasises on the health and survival of ecosystems. This means minimal and controlled exploitation of the ecosystem. On the other hand, microeconomics stresses on maximising the welfare of the people. This involves maximum exploitation of resources. This causes destruction, depletion and pollution. This has led to the development of ecological economics. This field deals with merging the insights of the two paradigms and resolve their differences. Microeconomics seeks to understand why a market has failed to deliver satisfactory results. It then explains theoretical conditions that are necessary for achievement of perfect competition. When a market has failed, its standard economic assumptions have been undermined. Causes for this include, negative externalities which makes social cost of production to surpass private cost. An example is effects of pollution. On the other hand, positive externalities cause social benefits of consumption to be higher than the private benefit. Imperfect information leads to over-production of demerit goods and under-production of merit goods. Underproduction and high prices can result from dominance by monopolies in the market. Incomplete market occurs where buyers and sellers are not fully aware of the other person’s position regarding product price hence prices may not reflect the true value for the product. Production inefficiency results from factor immobility which causes unemployment. Its competitive advantage is below the expectations of the society (Garegnani, 2006). Market failure results in allocative inefficiency. This is where there is resource misallocation and production of products that are not needed by customers at that time. It is an issue because these resources could have been utilized to make products that meet customer needs. It also causes production inefficiency. This is where given inputs are put in place but the outputs are

Disease and Conditions of the Circulatory System Essay

Disease and Conditions of the Circulatory System - Essay Example Tablets should be counted daily and every attack should be noted and reported to the doctor/physician. If you are using the transdermal Ointment, squeeze the prescribed dose to the applicator then spread it in a thin layer on the patch. Then put the patch on the skin surfaces without hair. Finally cover and wrap with secure tape. The ointment should not touch your fingers. Keep changing the areas of application to avoid inflammation. Store the container in a cool dry place. The Hypertensive heart disease is a number of combined complications of the systematic arterial hypertension or high blood pressure affecting the heart. There is hypertensive heart disease with heart failure and that without. It is a risk factor for atherosclerosis and and ischemic heart disease. It is caused by chronically elevated blood pressure. High blood pressure increases the pressure of the blood vessels, making the heart to work harder while pumping blood. The heart muscles thicken and the left ventricle of the heart is enlarged. The heart can no longer pump the amounts of blood it could before. This leads to the thickening of the blood vessel walls .It accounts for 90% of the cases of hypertension in adults. Framingham conducted a study that showed that the disease accounts for a quarter of the heart failure cases. It has been common in the elderly. Its preference is high due to the many reported cases of blood pressure today. Due to societal anxieties, more and more people are being diagnosed with blood pressure a risk factor of the heart disease. This inturn makes more people prone due to the heredity factor. Leisure activities like smoking and not eating healthy also have led to the increase in the rate of prevalence. Other contributing risk factors include obesity and diabetes which are on the rise daily. The prevalence can be reduced by people living healthier lifestyles and avoiding smoking, eating healthy and exercising. One should