Elasticity concepts State the (midpoint) formula for calculating price elasticity of demand. Price elasticity of demand is arrived at by evaluating the percentage change in the quantity of demand divided by the price percentage change (Shishkin & Olifer, 2017). Describe elastic demand. Elastic demand refers to sensitivity situations of a service or product against changes in price. For instance, an increase in product selling price will consequently reflect a decreased number of units sold. In such a case, consumers greatly react to changes within the price of the products. Price decrease gives them leverage to make more purchases while price increase makes them purchase less. Describe inelastic demand. Inelastic demand refers to situations where the demand by the consumer does not change relative to changes within the price. This can be the situation experienced in different everyday household services and products. 20% price increase in these products can, for instance, realize a 2% demand decrease. Describe unit elastic demand. This refers to an economic theorem that holds the assumption that price changes will result in equally proportional changes to the…

Enzymes-The specificity and inhibition of lactase   Which of the disaccharides tested is/are recognized and hydrolyzed by lactase? Answer Lactose disaccharide. Lactase breaks only lactose disaccharide and not any other into galactose and glucose due to the shape of the sugar. Also, lactase catalyzes disaccharide lactose hydrolysis to its simple sugars’ galactose and glucose.   Which of the compounds tested INHIBIT (reduce) the activity of lactase? Answer: Galactose and maltose compounds. Lactase can be inhibited by three main dietary sugars, such as fructose, galactose, and glucose, and not only seen in hydrolysis products. The reason behind the reducing activity of lactase by the compound is because they are reducing disaccharides. Explain how the inhibiting compound(s) might lower the activity of lactase. Answer: In the case of galactose, it is a competitive inhibitor that competes with the ONPG based on the active site of the enzyme. It inhibits the reacting by preventing the ONPG and make contact with the active site. Maltose is a reducing disaccharide that inhibits the breaking down of lactose by lactase. Thus, the compounds prevent the severing…

Application of Race and Ethnicity According to Barkan (7.5), discrimination refers to “the arbitrary denial of rights, privileges, and opportunities” to a specific person who belongs to a certain group of people that can be categorized on the basis of race or ethnicity.  This issue is applicable in various circumstances where at one time, a certain group are discriminated for belonging to their race or a certain group.  I remember sharing a story with one of my Black American friends in one the Universities in the United States who goes through the issue on a daily basis. The young man belongs to a family of five where his mother is an African and the dad is an American. Therefore, he took after his mother, who has dark skin and black hair. This issue gives him a distinction in any context he is in the United States, and one can easily spot him at a glance and after listening to his ascent. We once interacted with the friend in a school workshop which comprised of people from different Universities. In the…

economic scarcity In the face of economic scarcity, there have been widespread concerns about whether the poor and the rich make different financial decisions. Indeed, there are no enough resources to satisfy the needs of everyone, thus the way individuals make decisions matters a lot in their economic statuses. This nexus has led to the emergence of the concept of opportunity cost, which implies how people make strategic decisions when faced with economic scarcity (Plantinga, Krijnen, Zeelenberg, & Breugelmans, 2018). Therefore, this idea is a direct implication of shortage. People have to make different alternatives when deciding how to invest their finances. While economic scarcity is a primary concern for all people, poverty is not caused by failure to be keen on opportunity cost; instead, by the negative implications of the capitalistic system. It is highly recognized among economic practitioners that the poor are most likely to suffer from opportunity cost neglect. However, a cording to Plantinga et al. (2018), people are more prone to ignoring implicit alternatives when the decisions involve low-cost items, and the decision-makers have significant slack…

Coronavirus: Vatican City confirms first case, Two-year-old Swedish child infected after Italy trip. Coronavirus has struck the Vatican City, despite the many steps taken to prevent the spread of the infection in the city. The Vatican City, located in the middle of the Italian capital, Rome, has registered its first case of coronavirus. The Vatican spokesman Matteo Bruni said Friday. The infection was discovered Thursday. Parts of the Vatican’s health clinic have subsequently been shut down to be cleaned. However, the emergency department remains open, it says. There are around 1,000 residents of the small independent state, which is the Pope’s home and a popular tourist destination. However, the ongoing outbreak of coronavirus, which has particularly hit Italy, means that many tourists will keep off.   In recent days, the Vatican City has taken a number of measures to combat the spread of the virus. Among other things, changes are being considered in Pope Frans’s schedules. The 83-year-old pope announced at his Sunday prayer last week that he won’t attend an annual trip to the south of Rome due to…

Race, Ethnicity, and Sport Racism and ethnicity have been cited as detrimental in so many aspects of society. In sports, for instance, athletes have been subjected to racial profiling and this has seen many quit their carriers or even perform below their standard potential as a result of demoralization. Recently, a renowned Kenyan athlete broke his own record by running 42 kilometers in less than 2 hours. Most of the celebrated long-distance runners worldwide are Kenyan, and this has been the case for longest time. This very aspect has made sport analysts and enthusiasts question the reason for their outstanding popularity, as opposed to other cases like the prolific ski jumpers in Finland, for example. It is apparent most fans are of the opinion that Kenyan athletes are superior in this field than any other across the globe. While this thought lacks a scientific basis, it shows the prejudice built on racial grounds, and how thoroughly it affects the mindsets of athletes and fans around the world. Fans will support a certain sport because they are affiliated to a certain…

The City of Love: Get the Best of Paris with Paris Tours Everyone going to France or neighboring countries knows one thing; Paris is the city of love. It is an old maxim that perfectly describes Paris because of its impressive attractions. From its gothic structures to fantastic culture, everything in Paris sparkles. And there is no better way to get the thrill of these attractions than using Paris Tours. Travel Back in Time by Visiting the National Archives Whether you are on a short stay in Paris or have a longer period to explore the magnificent city, a visit to the National Archives will not disappoint. It will be an opportunity to step back in time and learn where the thrill of Paris began. The National Archives is an amazing monument located in North-Eastern Paris. The archives are the best place to experience different political regimes and the two World Wars. With our Paris Tours guides, the memories of the 20th century will roar back in an amazing way. Why read about the WWI in books only? It is…

Building Tourism Capacity The review of the literature sheds light on the relationship between mega-events and their significance to the tourism sectors. The literature further reveals how making investment decisions based on ex-ante estimates may cause negative impacts after the conclusion of mega-events. Critical reasoning will prove that the demand for accommodation and other essential services created by megaprojects is short-lived, while the supply to meet this demand will remain even after the conclusion of the events. In the end, supply will overshoot, while the demand decline, creating unutilized facilities in the long run. As the law of demand and supply dictate, when the supply exceeds the demand, the prices drop. Such a phenomenon explains why Lillehammer eventually suffered huge losses after the conclusion of the 1994 Winter Olympics. The stakeholders’ estimates were exceedingly optimistic, to a point, the demand after the event fell to 40%. This analysis sends a signal in the way the tourism sector responds to demand created by a forthcoming mega event. Unless there are contingency plans to absorb the overshoot of the supply after the…

under ˈəndər   The Pursuit of Smart City Security Urbanization is now becoming the most happening global phenomenon. According to the United Nations report, about 68% of the world’s population will reside in urban areas by 2050. More and more people will be migrating to the metro region, putting more pressure on urban planning. Policymakers will need to optimize the management of their communities to create sustainable economic stability. We are living in the age of smart cities where the rapid advancement of connected devices, software systems, and information communications technologies. The smart city also demands smart security for the safety of residents in all means. Whether it is an airport, railway, or any other public transport area, the smart solution is the need of an hour. A company like Leaptor offers a range of smart security solutions, including Boom Barrier, Flap Barrier, Access Control, and Accessories. The Pursuit of Smart City Security- When the concept of the smart city emerged, it was time to take the right steps. The implementation of new smart security was challenging. It was not…

New York City Transit Worker Strike, 2005 New York City is the epitome of the world’s economy through its strategic approach towards investments (Babiano, and Tébar 6). Its transport network is soundly connected and serves a critical role in linking various parts of the city. The article will address the transit worker strike that happened in 2005 and how it affected local and federal governments. The report will also handle how the attack attracted the international tribunal of the United Nations. Impact on the Locals. The worker strike that was later termed as illegal according to the transit officials caused untold suffering to the locals. Those who always depended on the transit as a form of transportation were affected hugely. Retailers, for instance, lost an estimated $ 400million entirely during the striking period (Babiano, and Tébar 8). The fact that the strike happened during December when business activities are booming up was a big letdown.  Many entrepreneurs depend on the transit to move their goods from points of sourcing to the final destinations. Public schools were also profoundly affected by…