Mississippi style by Erle Johnson

The Mississippi State Sovereignty Commission was enacted by an act of the Mississippi legislation in 1956. Its objectives was to protect the sovereignty of the state, and her sister state. The commission is run by four ex-official; the governor (who was the chairman of the commission), the president of the state (vice-chairman of the commission), the attorney general, and the speaker of the house. Other members of the commission includes: two members from the senate, appointed by the president and the senate; and three members from the house representatives who are appointed by the speaker. Various leaders in Mississippi had either credited or criticized the performance of the Commission. Coleman acknowledges the work that was being done by the Commission and asserted that the Commission was useful in abolishing the racial conflict and violence. Ross Barnett on the other hand complained about the method used by the Commission, he directed the Commission to create the speaker’s bureau to present the Mississippi views. The investigation team were also expanded which were in charge of investigated individuals and the organization that were challenging the racial status quo. Another key leader who contributed towards creating and shaping the new image of the Commission was Erle Johnston. Erle took measures to clean up the Commission, removing all discrimination reports especially those which meant to barred African and Americans from voting. He was born in 1917, in Garyville, Louisiana. Erle attended Grenada High School, where he played several roles ranging from participated on the baseball team, being a member of the band, and a newspaper writer. However, Erle did not go further with education due to financial problems, and hence after completion of High School in 1935, he started working part-time with Daily News, the Jackson-Leader, and the Memphis Commercial Appeal up to 1937 when he secured a full time job with the Clarion-ledger. Johnson Erle thereafter managed to serve in several capacities ranging from a mere newspaper reporter and the state editors to being the State Director of the Office of War Information in 1943. He was also called to serve in the U.S Army in 1945. His reputation as a respected newspaper writer and editors as well as a political reporter enabled Erle emerged into public arena and participated in the Mississippi political campaigns. In 1960, Erle was appointed as Director of Public Relations by Barnett and began to work with the Mississippi State Sovereignty Commission where he develops a public program that would counter criticism from the civil rights activist. He led the Commission in conducting investigation on those who challenged racial segregation, and directing on how to avoid civil rights legislation. Johnson also redefined the Commission name into Mississippi Information Agency in order regain its recognition. In 1966, a meeting was called to approve a new policy redefining the Commission as the watch dog in an effort to combat the threat of integration. Erle continued to hold the Executive Director of the Sovereignty Commission until his resignation in 1968. After his resignation John became Mayor of Forest from 1982-1985 where he alert on the advancement and development of the city’s industry. The success of the development of the city’s industrial led to the creation of many jobs opportunities. He later take over to a new career as an author of Mississippi politics where he before his death he wrote three books. He continued holding different position and engaging in various activities such as civic, religious, and community’s events. John was selected as Co-Chairman of Tougaloo College’s Committee on the prevention of the Civil Rights Activities in 1992. He later received recognition into the Mississippi Press Association Hall of Fame before his death which occurred as a result of heart attack in 1995. He left three children. Conclusion Johnson Erle born in 1917 was one of the leaders whose contribution led to a great success of the Mississippi State Sovereignty Commission. His reputation well known as the respected journalist and political reporters gave him an edge into political arena. He served several position during his life and always been struggling for the abolition of the racial segregation. Reference: 1. Erle Johnston memo, June 24, 1965, SRC ID # 9-31-4-3-1-1-1. 2. General Laws of the State of Mississippi, 1956, Chapter 365, 520-524. 3. Mississippi’s Defiant Years, 1953-1973: An Interpretation Documentary with Personal Experiences (Forest, Miss: Lake Harbor Publishers, 1994). 4. Politics: Mississippi Style (Forest Miss: Lake Harbor Publishers, 1993) 5. Rolled with Rose: A Political Portrait (Baton Rouge: Moran, 1980). Â   Â   Â   Â   Â   Â   Â  

The Key to Successful Graduate Scholarship Essay Topics

The Key to Successful Graduate Scholarship Essay Topics Things You Won't Like About Graduate Scholarship Essay Topics and Things You Will With this, you're going to be in a position to restrict your ideas into key points that you desire to highlight in the body of your essay. To be able to compose an effective essay, you want to take into account the reason you are being requested to write about a particular topic. If you're a great writer who's in a position to produce essays on a range of topics, a scholarship essay contest may be a natural choice for you. If you submit the scholarship essay within the body of the email, it is going to be disqualified. It's simple to point out an essay that's been written solely for the interest of it. You've got a lot riding on the way in which the essay is written. The essay is your opportunity to demonstrate how you are the perfect representative. Your essays ought to be unique. In the manual below, we will describe how to write these forms of essays to maximize your likelihood of winning. Fantastic rating and great reviews should tell you everything that you will need to understand about this excellent writing service. Be sure that your essay is neatly typed, and that there's lots of white space' on the webpage. Have a look at the site for fun pictures of previous winners! Essays are often necessary for scholarship applications. A scholarship essay is a rather important portion of your scholarship package. Undoubtedly, the admissions essay has become the most challenging portion of the graduate school application. A well-written scholarship essay can assist you with the funding you want to cover college. Scholarship essays are extremely similar to your college application essays when it comes to strategy. If you avoid all scholarships including an essay prompt, you might lose out on major scholarship money. Scholarships are for a single year. Graduate school scholarships are offered through organizations, businesses, states, and more. Our writers know what things to include in a high quality and appropriate essay so that you have the scholarship. Luckily for you, even when you're fighting to get going on a topic, we've got lots of resources to help you develop a winning, effective scholarship essay. There are lots of scholarships which don't require an essay. Not everybody can afford excellent education, and that's why some people choose to join the institution's scholarship program. Having grammar mistakes can mess up your odds of winning the scholarship. Finally, whenever you have composed the very best draft you are able to ask the exact same individuals to proofread for grammar and spelling errors. A well-written essay may be the most persuasive portion of a scholarship program, which explains why long and attention ought to be put into its preparation. Let's start with the most elementary issue to know more about the scholarship application essay. The Key to Successful Graduate Scholarship Essay Topics While you cannot predict every essay question, knowing some of the most frequent ones may give you an advantage on applications. She was the sole person I invited. That only leaves room for around 7-10 sentences, based on length. You have a great deal more room to talk about your circumstances. You should have all pieces of the test under control before you demonstrate your skills in their complete entirety. BUN tests should be done a specific way. It won't be any different than every other blood test you've received. You ought to take a more strategic strategy. So if you're looking at a potentially well-tread topic, attempt to approach it in a special way. This is a chance to use words in a creative and distinctive way. And it may go without saying, but be certain you obey the directions! Essay writing can be exceedingly challenging by yourself. Topics will vary that you're requested to write about. Have a look at this Graduate Scholarship Example to come up with your case. There can even be a couple essays and grade requirements thrown in too.

The Given-Before-New Principle in Linguistics

Parallels Between The Truman Show and Platos Allegory of...

Parallels Between The Truman Show and Platos Allegory of the Cave The movie, The Truman Show is about a reality television show that has been created to document the life of a man who, adopted at birth by a television network, is tricked into believing that his life, his reality, is normal and the environment that he lives is real. It is set in a town called Seahaven, which is essentially a simulation of the real world similar enough to the outside world that the viewing audience can relate to it. The town is a television studio inside an enormous dome in which the weather, the sun, the sky, and all the actions of the citizens are directed by a team of special effects people. The entire show is directed and produced by the creator of†¦show more content†¦However, because of some of the situations he encounters and sees, and with his curiosity and logic, Truman is able to work out something isn?t right about the world and manages to escape. Because it is a gradual realization, Truman doesn?t go mad as his make believe world unravels around him. As might be the case with Plato?s cave dwellers, as they are stepping into the light of the real world. I think that a majority of people, as do I, would agree that there is something wrong with what was done to Truman. We would all tend to believe that it would be a sad existence for any person to be so fooled by his environment and be so oblivious to the truth for his whole life. However, Truman?s situation is a metaphor for the current media climate that we live in today. The world has become something of a dome in which reality seems to be whatever we see and hear in the media. In an interview with the Christof character regarding the continued success of the show he said, ?We accept the reality of the world with which we?re presented. It?s as simple as that.? The world has become an audience waiting for reality to be presented in an hour long television program, or a two hour movie. The fake landscape Truman lives in is our own media landscape in which news, politics, and advertising are increasingly made up of theatrical illusions. The Truman Show addressed our fear of how far reality television could go, but also our fears about

Consumer Behavior and Purchase Decision Making Process Free Essays

Consumer behavior and purchase decision making process Every day we need to make a decissions – buy or not to buy anything. There are many things which helps us to make decissions like location, mood, advertisments and other. Consumer behavior is the mental and emotional processes and physical activities people engage in when they select, purchase, use, and dispose of products or services to satisfy particular needs and desires. We will write a custom essay sample on Consumer Behavior and Purchase Decision Making Process or any similar topic only for you Order Now A consumer goes through several stages before purchasing a product or service: 1. need; 2. information gathering/search; 3. evaluation of alternatives; . purchase of product/service; 5. post purchase evaluation. In my opinion, in this process there are two main steps – information gathering and evaluation of alternatives. These steps help to understand how much you need the product and how good it is. The buying process starts with comming needs. A need can be activated through internal or external stimuli. A need can also be aroused by an external stimulus such as sight of a new thing in a shop while purchasing other things. Need is the most important factor which leads to buying of products and services. Need infact is the catalyst which triggers the buying decision of individuals. After need arousal, the consumer tries to solve it and gathers the sources and information about the product. Depending upon the intensity of need, it produces two states of individual. The first state is called heightened attention when the consumer becomes more receptive to the information regarding the item he needs. If a consumer needs to purchase a refrigerator, he will pay mere attention to fridge ads and the remarks made by friends and associates about fridges. If need is more intense, the individual enters a state of active information search and he tries to collect more information about the product, its key attributes, qualities of various brands and about the outlets where they are available. There are a lot of consumer information sources like family, friends, advertisements, mass media, salesman. In my opinion, it is hard to arrange in the order wich one is the best source where get information about product. All these sources have pluses and minuses. If I prefer get information from family there is possibility that I do not get info about technical stuff. Or if I choose only salesman advice he can aggrandize about product advantages. That is why I recommend to take information as much as possible from every source. Having collected the information, the consumer clarify and evaluate the alternatives. There is, unfortunately no simple and single evaluation process used by all consumers or even by one consumer in all buying situations. Consumers can make choices based on their emotions and feelings. They elicit from memory their overall evaluations of products and choos the alternative for which they have the most positive feelings. One of the most current process of evaluation is to judge the product largely on a conscious and rational basis. Various considerations form the part of judgment such as product attributes, importance, weights, brand image, utility function for each attribute, and attitude and other. After evaluation of various alternatives, he takes the decision to buy or not to buy. Ofcourse, people can make choice on the spur of the moment, often without prior problem recognition. But I recommend going through all theese five steps focusing on information gathering and evaluation of alternatives. And always remember that the best impression about product you can get only after you try it. Izmantota literatura: http://www. managementstudyguide. com/consumer-decision-making-process. htm http://uwmktg301. blogspot. com/2010/01/evaluation-of-alternatives. html http://www. slideshare. net/Annie05/consumer-buying-behavior-and-decision-making-presentation How to cite Consumer Behavior and Purchase Decision Making Process, Essay examples

Konsortium Transnational Berhad free essay sample

Since the birth of KTB in June 15, 2007 when it made its debut on Bursa Malaysia, it has maintained high service standard. The stage and express bus operations provide the most extensive coverage throughout Peninsular Malaysia, covering almost all major cities and towns as well as Singapore. The nationwide network is serviced by a fleet of more than 1,500 buses that covers more than 250 routes, generating more than 1,000 trips daily and this translates to around 60 million passengers a year. To date, KTB commands the largest market share, with ‘Transnasional’ being the leader in the express bus industry in Peninsular Malaysia. Besides ‘Transnasional’, KTB also operates (other business units) ‘Plusliner’ economy express buses ‘Cityliner’ stage buses, and luxury bus services under the ‘Nice’ brand that operates the express division. Other than Transnasional Express Sdn. Bhd, its other subsidiaries include Syarikat Kenderaan Melayu Kelantan Berhad, Syarikat Tanjung Keramat Temerloh Omnibus Berhad, Kenderaan Langkasuka Sdn. Bhd. , Kenderaan Klang Banting Berhad, Kenderaan Labu Sendayan Sdn. Bhd. , Starise Sdn. Bhd. , and Syarikat Rembau Tampin Sdn. Bhd. hich are engaged in public transportation services; Park May Berhad, which is engaged in investment holdings; PT Indonadi, which is engaged in trading of vehicles, and The Kuala Lumpur, Klang and Port Sweettenham Omnibus Company Bhd. , which is engaged in public transportation services and investment holdings. Other Services In addition, KTB offers bus charter services (Plusliner Travel Tours) which offers sa fe short local charters to all-day to multi-destinations and trips, Trans Courier (Trans-Express Courier Sdn Bhd) which handle customers hipping needs and is a cost effective alternative to other ground or air options for same day delivery within Malaysia, Mobile Advertising Services for Transport Operations (MASTRO) which offers advertisers boundless opportunity to communicate their messages effectively and in full view of their target audience. Companies Mission The company strive to become a conglomerate that is Progressive, Innovative, Profitable, Customer Oriented and Committed to National Aspirations Major competitors †¢Super Nice Bus Express Malayia †¢AeroLine Express Bus Penang †¢First Coach Starwira Shuttle †¢Airebus †¢Maraliner †¢Kuala Lumpur City Tour Bus †¢Biaramas Bus Express †¢Transtar travel malaysia express bus †¢Rapid KL SWOT Analysis We shall first begin by identifying and examining the Internal Environmental factors of the firm (Strength and Weaknesses) then followed by the external factors (Opportunities and Threats), all of which are instrumental in matching the firms resources and capabilities to the competitive environment in which it operates there by facilitating efficient and effective strategic planning of the organizational. Strength. i. Efficient and timely services ii. Possession of Compressed Natural Gas (CNG) technology iii. Totally brand new and enjoyable traveling experience- First in the country with adjustable head rests iv. Safe and affordable public transportation v. Well qualifies employees personnel vi. Possession of high capacity double decker buses vii. Good reputation- Its known as the leader in the express bus industry viii. Excellent customer service- Dedicated officers- Always ready to assist and answer any customer questions regards it services. ix. Convenience. Tickets can be purchased 60 days ahead of departure time from 170 agents nationwide whose 42 of them are Petronas fuel station operators. Weakness i. Luck of undifferentiated services in relation to your competitors. ii. Damaged reputation caused by an unsatisfied customer. iii. Unfeasible infrastructure to cater for the handicapped Opportunities i. An unfulfilled customers needs from other bus operators ii. New technology that improves the companies service offering. iii. Increase in passengers using public means of transport due to high fuel prices iv. oosening of regulations by government agencies which originally limited the number of bus operators Threats i. Substitution of bus services for private vehicles ii. The growing concern of global warming and the need for alternative cleaner fuel sources which will only result in high company costs iii. Heavy competition in the industry with more than 200 stage bus operators and from other alternative means of transport such as cab ser vices, trains, air transportation, etc. iv. Tougher government regulations on privately own public bus service providers, example safety standards v. Fluctuating fuel prices i. The rising costs of operations due to hikes in fuel, vehicle insurance premiums, bus terminal rentals, vehicle tires as well as parts and maintenance costs which have. vii. Unhealthy industry especially when it comes to the price structure in Malaysia. Countries like Indonesia raise fares every six months and there are also regular fare hikes in Singapore. TOWS Matrix This analysis assists the company identifies SWOT analysis factors it should best pursue so as to compete better in the industry, whether its the competitive advantage strengths, more lucrative opportunities or and upcoming opportunities. OpportunitiesThreats Strength. SO Strategies i. KTB’s excellent customer service should be able to attract unsatisfied customers from rival companies ii. New technology will be able to enhance customers travel experience iii. KTB’s differentiated services will help attract new customer over their competitors iv. ST Strategies i. KTB’s effective and timely services won’t deter off commuters. ii. Possession of Compressed Natural Gas (CNG) technology which is less toxic to the environment. iii. KTB’s differentiation strategy will come in handy in creating a competitive advantage iv. KTB has set the bench mark in travel safety through maintenance v. High capacity double decker buses which have helped minimize costs WeaknessWO Strategies Overcome weaknesses by taking advantage of opportunities WT Strategies Minimize weaknesses and reduce threats Analyze Your Findings. KTB’s strategy appears to be well-matched to its industry and competitive conditions. KTB’ Transnasional is the industries leader in the express bus division. The company’s strategy appears to be based on a mixture of differentiating features, cost leadership and service strengths and competitive capabilities. A key element of its strategy is an emphasis on providing exceptional customer service. Since commuters were dissatisfied with the services offered by other public bus operators. Business Level Strategy In Malaysia, KTB’s transnasional is positioned as the number one brand in the express bus services. Currently KTB is made up of four independent business units and these include: Transnasional, Nice, Plusliner and Cityliner. Each of these business units is competing in different market segments of the transportation industry in order to tailor the entire KTB services to best suit each customers’ needs and all four business units have separate accountability for their financial statements. KBT as the parent company offers all strategic leadership, a mix of two different business strategies to best suits their target market and the survival of the company in the industry. In general, KTB applies both the cost leadership and differentiation strategy within there business units. Transnasional, which applies a cost leadership strategy is Malaysia’s leading bus operator in the express industry. To use a cost leadership strategy, operations have to maximize economy of scale, reduce costs, or use volume to maintain profit. The application of the cost leadership strategy by KTB is evident with the recent launch of the Transnasional Skyview Scania double decker buses. The new buses, with the capacity of 69 sitting passengers, the highest for any interstate bus service as opposed to the 44 passenger capacity. Having a high passenger capacity bus will assist the company minimize total operating costs. The engines of these new buses have been designed to take on as less stress as possible thereby enabling them to be more reliable and consume less fuel. Also, as part of the cost reduction endeavor, KTB with Transnasional opted for Compressed Natural Gas (CNG) technology that allows the buses to run on an Natural Gas. This kind of fuel is not only cost efficient but is also less toxic to the environment. The differentiation strategy which features a superior product/service type of competitive advantage keyed to higher quality, better performance, wider selection, value-added services is witnessed by the extra value added in KTB services to there customers. For example, Nice was one of the firsts in the country to introduce executives coaches with full onboard services hosted by steward/stewardess throughout the journey. A more luxurious sub-brand Nice++ was further launched in June 2005, the first executive coach in the country with individual LCD screen for its passengers to watch a selection of pre-programmed movie of their choice. Nice executive coaches are also the first and only kind in the country with its service pantry located at the front of the coach to give its passengers an airline feel, at the same time isolate its passengers from the undesirable frontal traffic noises and view. In KL Main Terminal and Copthorne Orchid Hotel in Singapore, â€Å"Nice† passengers c an relax and enjoy free snacks/drinks and also surf the net at the fully air-conditioned ‘executive lounges’ specially prepared for them. Marketing Strategy This part of the analysis will analyze the marketing aspect of the company. It will identify which customers it targets, how it reaches and win them over, as well as retention of existing customers. Market Segmentation KTB considers market segment based on 2 distinct groups or segments, which include Express buses and Sage buses. These segments are then further divided into geographic location, Income groups, and Demographic Segmentation This segment focuses on the income cleavage of it’s market and is divided into two groups i. e. 1)Deluxe Bus Traveler This segment caters to customer who want first class transportation services. The Nice Brand is included in this category †¢Nice Brand Nice† is still the largest operator in the country providing luxury/ executive coach services and is supported by more than 20,000 members that were registered as â€Å"Nice† loyalty card members. A journey with Nice executive coach is said to be a journey to remember. From the executive lounge to when the bus departs, the bus offers its passengers with on board entertainment and refreshment till their final destination. With Nice, you get to travel in style. Currently, â€Å"Nice† operates a total 35 executive coaches from Kuala Lumpur to Singapore, Penang, Kuantan and Ipoh. )Economy Bus Travelers This segment cater to customers who seek low or relatively low cost transportation means. Brands in this category include; Plusliner, Transnasional, and Cityliner Usage Situation Segmentation This segment focuses on the way the market/customer use the KTB services. The segment is divided into two groups that are further geographically broken down based on the four compa ny brands (Nice, Transnasional, Cityliner and the Plusliner brand). i. Express Buses This group serves long haul bus travelers, that is to say, from one state to another. Brands operating under this segment include, the Transnasional, Plusliner, and Nice brand †¢Nice Brand Currently, â€Å"Nice† operates a total 35 executive coaches from Kuala Lumpur to Singapore, Penang, Kuantan and Ipoh. †¢Transnasional This brand is further segmented based on geographical location or the routs it operated. These include Transnasional Express – Western Region This region monitors and manages all express routes within this region that stretches from Kuala Lumpur in the south, all the way to Kangar up north. This region operates 22 routes with a holding capacity of 215 buses. Transnasional Express – Eastern Region This region monitors and manages all express routes within this region plus all routes into Western Region and into the eastern part of Southern Region. The originating points in Eastern Region are mainly from Kota Bharu, Kuala Terengganu and Kuantan. This region operates 28 routes with a holding capacity of 210 buses/permits. Transnasional Express – Southern Region Similar to Eastern Region, this region monitors and manages all express routes within this region, all routes into Western Region and all routes between the western part of Southern Region and Eastern Region. The originating points in Southern Region are mainly from Johor Bahru, Melaka and Seremban. This region operates 28 routes with a holding capacity of 165 buses/permits. †¢Plusliner Plusliner economy coach is designed specifically for highway commuters. The most frequent highway express is also dubbed as King of the Highway, as a reflection of its efficient and timely services to the loyal passengers. Plusliner operates from Kuala Lumpur to main cities like Ipoh, Kuantan, Penang and from Seremban to Johor Bahru. Plusliner also serves other destinations like Kulim, Alor Setar, Bukit Kayu Hitam, Padang Besar, Lumut (Pangkor), Batu Gajah/Seri Iskandar and following a formal approval from the authority in mid May 2008, Plusliner now extends its express service from Ipoh via new Guthrie expressway to Shah Alam and to KLIA/LCCT. ii. Stage Buses This segment cater to short distance bus commuters, usually within metropolitan or city areas including housing areas. Brands operating under this segment include, the Cityliner brand †¢Cityliner Cityliner operate in several states/areas namely Kelantan, Selangor, Negeri Sembilan, Kedah and Seberang Prai. Since the birth of KTB in June 2007, the Cityliner operations are headed by a Division Head and are divided into five regions/territories as follows: Cityliner – Kelantan Operations Cityliner – Kelantan Operations is an entity by itself, only focusing on stage bus operations. The outfit has a capacity of running approximately 270 permits/buses. Cityliner – Northern Operations Led by a Regional Manager and focusing purely on the profitability of the stage bus operations in the northern part of Semenanjung. The outfit has a capacity of running approximately 185 permits/buses. Cityliner – Selangor Operations This outfit is now under one management team and led by a Regional Manager, has a capacity of running approximately 225 permits/buses. Cityliner – Negeri Sembilan Operations Besides running ordinary routes in housing areas and on main roads of Negeri Sembilan, the Cityliner buses here also serve the Kuala Lumpur International Airport (KLIA) and Low Cost Carrier Terminal (LCCT) from Seremban, Nilai and Banting. Cityliner – Pahang Operations Focuses on stage bus operations in Central Pahang covering Temerloh and Jerantut. Targeted Customer Public bus commuters -Low and medium income groups with incomes between RM300-5000 -Tourists traveling within Malaysia and those heading to Singapore. Market Mix With the help and application of the 4ps, we can determine the right strategy and tactics for targeting customer segments. †¢Product/Services KTB has endeavored to offer quality services to their loyal customers and has developed four brands to cater to the needs of it customers in the different segments and these include the Transnasional, Cityline, Plusliner and the Nice brand. i. Nice Brand This brand targets customers who would like a first class travel experience. Customers using the Nice brand get to travel in style, with on board entertainment, refreshment and everything being looked after, customers are hassle and worries free. ii. Transnational Transnasional has been a household brand for more than 3 decades, serving millions of satisfied passengers every year. The largest leading transport operator in Malaysia is also renowned as the icon and the leader of express bus industry. It provide public bus transportation for those traveling from one state to another or in between. ii. Cityliner Cityliner operate in several states/areas namely Kelantan, Selangor, Negeri Sembilan, Kedah and Seberang Prai. Since the birth of KTB in June 2007, the Cityliner operations are headed by a Division Head and are divided into five regions/territories as follows: †¢Position / Place KTB’s Transnasional has been positioned as the best express public bus operator in Malaysi a. Transnasional has been a household brand for more than 3 decades, serving millions of satisfied passengers every year. †¢Price Having opted for a mix of both a cost leadership and differentiation trategy, KTB ensure that it offers competitive prices for it’s less luxurious brands while at the same time demand a high premium for extra value added. Service pricing is greatly affected by the cost of fuel in addition to other costs of production such as employees salary and spare parts. Government policy is also another factor that determines the prices in the public transportation sector so as to take into count the low income groups that may not be able to afford the services as opposed to letting the fare be dictated by demand and supply †¢Promotion KTB as been effective in promoting it’s products by distinguishing its services from its competitors through their value added services with websites where customers can go to find out more about the company and the services it offers while making it easier to purchase tickets KTB has also offers great package deals that are designed to attract new customers as well as retain the exiting ones for example, the holiday packages offered to Nice brand members. Those registered as â€Å"Nice† loyalty card members can also accumulate points that can be exchanged with free tickets, merchandizes and holiday packages. Organizational change: †¢Safety As away to improve service quality and excellence especially in the safety arena, KTB introduced the new Transnasional Skyview Scania double decker buses from Scania, one of the leading manufactures of high end intercity buses. The buses are amongst the safest buses on Malaysian roads today, and feature top-of-the-line safety features such as Anti-lock Braking System (ABS); Traction Control and Scania Retarder, which offers effective braking through the use of a hydraulic retarder within the gearbox that offers safe and efficient braking. Also, in terms of safety, all new â€Å"Transnasional† buses met the European ECE R66 safety regulations on roof crash standards and equipped with front row seat belts since 2005. Transnasional is collaborating with Automotive Center of Excellence (ACE) in providing professional refresher training for all of its coach captains. Courses are conducted by certified ACE Instructors which require all coach captains to undergo both theoretical and practical classes. Those who have completed the efresher courses then are required to sit for an evaluation test to ensure the driving skills and knowledge are well applied before Certificate of Competency is issued to the participants. †¢Alternative Source of Fuel With the rising environmental concerns and increasing fuel prices, KTB with transnasional and Cityliner opted for Compressed Natural Gas (CNG) technology that allows the buses to run on an alternative source of fuel (Natural Gas). This kind of fuel is not only cost efficien t but is also less toxic to the environment. †¢Energy Saving The new buses with the capacity of 69 sitting passengers, the highest for any interstate bus service previously served by regular single deck buses with capacity of up to 44 passengers is Transnasional’s newest interstate service and follows a trend of having a high passenger capacity double-decker bus to reduce total energy consumption. †¢Value The company has added more value to its customers by offering quality services to meet the customers’ expectations, improved the convenience at which bus tickets can be purchased whether online or from various agents. Transnasional tickets can be purchased 60 days ahead of departure time from 170 agents nationwide whose 42 of them are Petronas fuel station operators. This, in turn has increased customer satisfaction. †¢Innovation In terms of product innovation, the new 2007 version of e-ticketing for â€Å"Transnasional† is able to place a passenger who prefers to sit beside his/her own gender. â€Å"Transnasional† is still the first and only bus operator to introduce adjustable headrest for its newly launched economy express 41-seater single-deck â€Å"Club Class† coach. Again â€Å"Transnasional† is the first in the country to introduce a high capacity economy express with its 69-seater double-deck â€Å"Skyview†. Not only it can carry more passengers, its â€Å"twin-configuration† seats can be separated to create more shoulder room for each and every passenger on board. The 24-tonne tri-axle coach with its unique design has taken into consideration all safety aspects for example, an emergency door on the upper deck that is in-line with the hidden ladder placed at the bottom deck, two escape hatches on the roof, a tapered roof design for greater stability, rear entry staircase, and seat belts for certain rows. Due to the fact that CNG cost is still cheaper than diesel, 74 CNG buses designed specifically for express type operations are planned to be on the road. These buses will be deployed mostly in the Transnasional southern Region in view of the potential availability of CNG’s refueling infrastructure. For Western Region, by relocating their main depot from Kuala Lumpur to Kajang in July 2007. Level of Hierarchy KTB’s organizational structure is one with a wide span of control that adopts a traditional approach. The organizational structure is based on or divided according to the company’s various business subsidiaries and there particular operations in terms of territory. These subsidiaries are headed by a Division Head or Regional General Managers. Employee Rewards One of the rewards for working with KTB are the free training programs they offer especially to their coach captains. Transnasional is collaborating with Automotive Center of Excellence (ACE) in providing professional refresher training for all of its coach captains. Courses are conducted by certified ACE Instructors which require all coach captains to undergo both theoretical and practical classes. Conflicts and Issues †¢Unfair pay. This is believed to be one of the most ongoing problems at KTB where most of the drivers were not ok with the payments they were receiving as salary for the work being done daily. Due to the many cases where at times you would find the bus station empty that’s was believed to be the problem but the resolved it and now the buses are working well with their drivers ready on time and happy with the salary increase. Long queues. This was another problem that was faced with the bus services where you had some people complaining that some people where not paying for the services others claiming that the drivers cheat them. So the introduction of e-ticketing was introduced as another way to legitimize the work so everyone feels comfortable and free in the bus so as a safe journey to passengers going on long distances. †¢Theft. This was another problem faced with the KTB buses. specially at the stations themselves where some people would come in disguise as passengers waiting for the bus and in the end they would end up stealing property from others like phones, bags, shoes, money which resulted to the stationing of police officers in most of the boarding zones, bus stations in a way to stop the theft so to ensure safety for the bus en the people travelling which is why it is one of the most reasons as to why it is recognized in Malaysia because it takes care of its passengers. Time. This is another problem that was not implemented upon till of recent when it was fixed where most passengers never knew when most of the buses where coming in. that led to some people cursing because they were never inf ormed but now as I speak buses come by six o’clock, till midnight and they take 30 minutes each to report to the station. Recommendations Some of the recommendations I would make to include; †¢One Price. Fare increases could be determined by taking into account the turnover of bus operators and the cost analysis trend with that of the revenue as practiced in Europe. The turnover must be higher than the interest rate (loan) and the Consumer Price Index (CPI) to enable bus companies to make profit. †¢On Energy efficiency. With the rising environmental concerns and increasing fuel prices, KTB should opted for the use of Compressed Natural Gas (CNG) technology which allows the buses to run on Natural Gas in not just some of it’s buses by all of it’s fleet and is also a means to reduce costs Reference http://www. ktb. com. my/knowingUs_aboutUs. htm http://www. scania. com. my/About_Scania/Events/TransnasionalSkyview. asp http://web6. bernama. com/client/kpdnhep/news. php? id=349852lang=encat= http://www. travelportal. info/asia/malaysia/transport-in-malaysia Konsortium Transnational Berhad free essay sample Since the birth of KTB in June 15, 2007 when it made its debut on Bursa Malaysia, it has maintained high service standard. The stage and express bus operations provide the most extensive coverage throughout Peninsular Malaysia, covering almost all major cities and towns as well as Singapore. The nationwide network is serviced by a fleet of more than 1,500 buses that covers more than 250 routes, generating more than 1,000 trips daily and this translates to around 60 million passengers a year. To date, KTB commands the largest market share, with ‘Transnasional’ being the leader in the express bus industry in Peninsular Malaysia. Efficient and timely services ii. Possession of Compressed Natural Gas (CNG) technology iii. Totally brand new and enjoyable traveling experience- First in the country with adjustable head rests iv. Safe and affordable public transportation v. Well qualifies employees personnel vi. Possession of high capacity double decker buses vii. Good reputation- Its known as the leader in the express bus industry viii. Excellent customer service- Dedicated officers- Always ready to assist and answer any customer questions regards it services. ix. Convenience. Tickets can be purchased 60 days ahead of departure time from 170 agents nationwide whose 42 of them are Petronas fuel station operators. Weakness i. Luck of undifferentiated services in relation to your competitors. ii. Damaged reputation caused by an unsatisfied customer. iii. Unfeasible infrastructure to cater for the handicapped Opportunities i. An unfulfilled customers needs from other bus operators ii. New technology that improves the companies service offering. iii. Increase in passengers using public means of transport due to high fuel prices iv. oosening of regulations by government agencies which originally limited the number of bus operators Threats i. Substitution of bus services for private vehicles ii. The growing concern of global warming and the need for alternative cleaner fuel sources which will only result in high company costs iii. Heavy competition in the industry with more than 200 stage bus operators and from other alternative means of transport such as cab services, trains, air transportation, etc. iv. Tougher government regulations on privately own public bus service providers, example safety standards v. Fluctuating fuel prices i. The rising costs of operations due to hikes in fuel, vehicle insurance premiums, bus terminal rentals, vehicle tires as well as parts and maintenance costs which have. vii. Unhealthy industry especially when it comes to the price structure in Malaysia. Countries like Indonesia raise fares every six months and there are also regular fare hikes in Singapore. TOWS Matrix This analysis assists the company identifies SWOT analysis factors it should best pursue so as to compete better in the industry, whether its the competitive advantage strengths, more lucrative opportunities or and upcoming opportunities. OpportunitiesThreats Strength. SO Strategies i. KTB’s excellent customer service should be able to attract unsatisfied customers from rival companies ii. New technology will be able to enhance customers travel experience iii. KTB’s differentiated services will help attract new customer over their competitors iv. ST Strategies i. KTB’s effective and timely services won’t deter off commuters. ii. Possession of Compressed Natural Gas (CNG) technology which is less toxic to the environment. iii. KTB’s differentiation strategy will come in handy in creating a competitive advantage iv. KTB has set the bench mark in travel safety through maintenance v. High capacity double decker buses which have helped minimize costs WeaknessWO Strategies Overcome weaknesses by taking advantage of opportunities WT Strategies Minimize weaknesses and reduce threats Analyze Your Findings. KTB’s strategy appears to be well-matched to its industry and competitive conditions. KTB’ Transnasional is the industries leader in the express bus division. The company’s strategy appears to be based on a mixture of differentiating features, cost leadership and service strengths and competitive capabilities. A key element of its strategy is an emphasis on providing exceptional customer service. Since commuters were dissatisfied with the services offered by other public bus operators. Business Level Strategy In Malaysia, KTB’s transnasional is positioned as the number one brand in the express bus services. Currently KTB is made up of four independent business units and these include: Transnasional, Nice, Plusliner and Cityliner. Each of these business units is competing in different market segments of the transportation industry in order to tailor the entire KTB services to best suit each customers’ needs and all four business units have separate accountability for their financial statements. KBT as the parent company offers all strategic leadership, a mix of two different business strategies to best suits their target market and the survival of the company in the industry. In general, KTB applies both the cost leadership and differentiation strategy within there business units. Transnasional, which applies a cost leadership strategy is Malaysia’s leading bus operator in the express industry. To use a cost leadership strategy, operations have to maximize economy of scale, reduce costs, or use volume to maintain profit. The application of the cost leadership strategy by KTB is evident with the recent launch of the Transnasional Skyview Scania double decker buses. The new buses, with the capacity of 69 sitting passengers, the highest for any interstate bus service as opposed to the 44 passenger capacity. Having a high passenger capacity bus will assist the company minimize total operating costs. The engines of these new buses have been designed to take on as less stress as possible thereby enabling them to be more reliable and consume less fuel. Also, as part of the cost reduction endeavor, KTB with Transnasional opted for Compressed Natural Gas (CNG) technology that allows the buses to run on an Natural Gas. This kind of fuel is not only cost efficient but is also less toxic to the environment. The differentiation strategy which features a superior product/service type of competitive advantage keyed to higher quality, better performance, wider selection, value-added services is witnessed by the extra value added in KTB services to there customers. For example, Nice was one of the firsts in the country to introduce executives coaches with full onboard services hosted by steward/stewardess throughout the journey. A more luxurious sub-brand Nice++ was further launched in June 2005, the first executive coach in the country with individual LCD screen for its passengers to watch a selection of pre-programmed movie of their choice. Nice executive coaches are also the first and only kind in the country with its service pantry located at the front of the coach to give its passengers an airline feel, at the same time isolate its passengers from the undesirable frontal traffic noises and view. In KL Main Terminal and Copthorne Orchid Hotel in Singapore, â€Å"Nice† passengers c an relax and enjoy free snacks/drinks and also surf the net at the fully air-conditioned ‘executive lounges’ specially prepared for them. Marketing Strategy This part of the analysis will analyze the marketing aspect of the company. It will identify which customers it targets, how it reaches and win them over, as well as retention of existing customers. Market Segmentation KTB considers market segment based on 2 distinct groups or segments, which include Express buses and Sage buses. These segments are then further divided into geographic location, Income groups, and Demographic Segmentation This segment focuses on the income cleavage of it’s market and is divided into two groups i. e. 1)Deluxe Bus Traveler This segment caters to customer who want first class transportation services. The Nice Brand is included in this category †¢Nice Brand Nice† is still the largest operator in the country providing luxury/ executive coach services and is supported by more than 20,000 members that were registered as â€Å"Nice† loyalty card members. A journey with Nice executive coach is said to be a journey to remember. From the executive lounge to when the bus departs, the bus offers its passengers with on board entertainment and refreshment till their final destination. With Nice, you get to travel in style. Currently, â€Å"Nice† operates a total 35 executive coaches from Kuala Lumpur to Singapore, Penang, Kuantan and Ipoh. )Economy Bus Travelers This segment cater to customers who seek low or relatively low cost transportation means. Brands in this category include; Plusliner, Transnasional, and Cityliner Usage Situation Segmentation This segment focuses on the way the market/customer use the KTB services. The segment is divided into two groups that are further geographically broken down based on the four compa ny brands (Nice, Transnasional, Cityliner and the Plusliner brand). i. Express Buses This group serves long haul bus travelers, that is to say, from one state to another. Brands operating under this segment include, the Transnasional, Plusliner, and Nice brand †¢Nice Brand Currently, â€Å"Nice† operates a total 35 executive coaches from Kuala Lumpur to Singapore, Penang, Kuantan and Ipoh. †¢Transnasional This brand is further segmented based on geographical location or the routs it operated. These include Transnasional Express – Western Region This region monitors and manages all express routes within this region that stretches from Kuala Lumpur in the south, all the way to Kangar up north. This region operates 22 routes with a holding capacity of 215 buses. Transnasional Express – Eastern Region This region monitors and manages all express routes within this region plus all routes into Western Region and into the eastern part of Southern Region. The originating points in Eastern Region are mainly from Kota Bharu, Kuala Terengganu and Kuantan. This region operates 28 routes with a holding capacity of 210 buses/permits. Transnasional Express – Southern Region Similar to Eastern Region, this region monitors and manages all express routes within this region, all routes into Western Region and all routes between the western part of Southern Region and Eastern Region. The originating points in Southern Region are mainly from Johor Bahru, Melaka and Seremban. This region operates 28 routes with a holding capacity of 165 buses/permits. †¢Plusliner Plusliner economy coach is designed specifically for highway commuters. The most frequent highway express is also dubbed as King of the Highway, as a reflection of its efficient and timely services to the loyal passengers. Plusliner operates from Kuala Lumpur to main cities like Ipoh, Kuantan, Penang and from Seremban to Johor Bahru. Plusliner also serves other destinations like Kulim, Alor Setar, Bukit Kayu Hitam, Padang Besar, Lumut (Pangkor), Batu Gajah/Seri Iskandar and following a formal approval from the authority in mid May 2008, Plusliner now extends its express service from Ipoh via new Guthrie expressway to Shah Alam and to KLIA/LCCT. ii. Stage Buses This segment cater to short distance bus commuters, usually within metropolitan or city areas including housing areas. Brands operating under this segment include, the Cityliner brand †¢Cityliner Cityliner operate in several states/areas namely Kelantan, Selangor, Negeri Sembilan, Kedah and Seberang Prai. Since the birth of KTB in June 2007, the Cityliner operations are headed by a Division Head and are divided into five regions/territories as follows: Cityliner – Kelantan Operations Cityliner – Kelantan Operations is an entity by itself, only focusing on stage bus operations. The outfit has a capacity of running approximately 270 permits/buses. Cityliner – Northern Operations Led by a Regional Manager and focusing purely on the profitability of the stage bus operations in the northern part of Semenanjung. The outfit has a capacity of running approximately 185 permits/buses. Cityliner – Selangor Operations This outfit is now under one management team and led by a Regional Manager, has a capacity of running approximately 225 permits/buses. Cityliner – Negeri Sembilan Operations Besides running ordinary routes in housing areas and on main roads of Negeri Sembilan, the Cityliner buses here also serve the Kuala Lumpur International Airport (KLIA) and Low Cost Carrier Terminal (LCCT) from Seremban, Nilai and Banting. Cityliner – Pahang Operations Focuses on stage bus operations in Central Pahang covering Temerloh and Jerantut. Targeted Customer Public bus commuters -Low and medium income groups with incomes between RM300-5000 -Tourists traveling within Malaysia and those heading to Singapore. Market Mix With the help and application of the 4ps, we can determine the right strategy and tactics for targeting customer segments. †¢Product/Services KTB has endeavored to offer quality services to their loyal customers and has developed four brands to cater to the needs of it customers in the different segments and these include the Transnasional, Cityline, Plusliner and the Nice brand. i. Nice Brand This brand targets customers who would like a first class travel experience. Customers using the Nice brand get to travel in style, with on board entertainment, refreshment and everything being looked after, customers are hassle and worries free. ii. Transnational Transnasional has been a household brand for more than 3 decades, serving millions of satisfied passengers every year. The largest leading transport operator in Malaysia is also renowned as the icon and the leader of express bus industry. It provide public bus transportation for those traveling from one state to another or in between. ii. Cityliner Cityliner operate in several states/areas namely Kelantan, Selangor, Negeri Sembilan, Kedah and Seberang Prai. Since the birth of KTB in June 2007, the Cityliner operations are headed by a Division Head and are divided into five regions/territories as follows: †¢Position / Place KTB’s Transnasional has been positioned as the best express public bus operator in Malaysia. Transnasional has been a household brand for more than 3 decades, serving millions of satisfied passengers every year. †¢Price Having opted for a mix of both a cost leadership and differentiation trategy, KTB ensure that it offers competitive prices for it’s less luxurious brands while at the same time demand a high premium for extra value added. Service pricing is greatly affected by the cost of fuel in addition to other costs of production such as employees salary and spare parts. Government policy is also another factor that determines the prices in the public transportation sector so as to take into count the low income groups that may not be able to afford the services as opposed to letting the fare be dictated by demand and supply †¢Promotion KTB as been effective in promoting it’s products by distinguishing its services from its competitors through their value added services with websites where customers can go to find out more about the company and the services it offers while making it easier to purchase tickets KTB has also offers great package deals that are designed to attract new customers as well as retain the exiting ones for example, the holiday packages offered to Nice brand members. Those registered as â€Å"Nice† loyalty card members can also accumulate points that can be exchanged with free tickets, merchandizes and holiday packages. Organizational change: †¢Safety As away to improve service quality and excellence especially in the safety arena, KTB introduced the new Transnasional Skyview Scania double decker buses from Scania, one of the leading manufactures of high end intercity buses. The buses are amongst the safest buses on Malaysian roads today, and feature top-of-the-line safety features such as Anti-lock Braking System (ABS); Traction Control and Scania Retarder, which offers effective braking through the use of a hydraulic retarder within the gearbox that offers safe and efficient braking. Also, in terms of safety, all new â€Å"Transnasional† buses met the European ECE R66 safety regulations on roof crash standards and equipped with front row seat belts since 2005. Transnasional is collaborating with Automotive Center of Excellence (ACE) in providing professional refresher training for all of its coach captains. Courses are conducted by certified ACE Instructors which require all coach captains to undergo both theoretical and practical classes. Those who have completed the efresher courses then are required to sit for an evaluation test to ensure the driving skills and knowledge are well applied before Certificate of Competency is issued to the participants. †¢Alternative Source of Fuel With the rising environmental concerns and increasing fuel prices, KTB with transnasional and Cityliner opted for Compressed Natural Gas (CNG) technology that allows the buses to run on an alternative source of fuel (Natural Gas). This kind of fuel is not only cost efficien t but is also less toxic to the environment. †¢Energy Saving The new buses with the capacity of 69 sitting passengers, the highest for any interstate bus service previously served by regular single deck buses with capacity of up to 44 passengers is Transnasional’s newest interstate service and follows a trend of having a high passenger capacity double-decker bus to reduce total energy consumption. †¢Value The company has added more value to its customers by offering quality services to meet the customers’ expectations, improved the convenience at which bus tickets can be purchased whether online or from various agents. Transnasional tickets can be purchased 60 days ahead of departure time from 170 agents nationwide whose 42 of them are Petronas fuel station operators. This, in turn has increased customer satisfaction. †¢Innovation In terms of product innovation, the new 2007 version of e-ticketing for â€Å"Transnasional† is able to place a passenger who prefers to sit beside his/her own gender. â€Å"Transnasional† is still the first and only bus operator to introduce adjustable headrest for its newly launched economy express 41-seater single-deck â€Å"Club Class† coach. Again â€Å"Transnasional† is the first in the country to introduce a high capacity economy express with its 69-seater double-deck â€Å"Skyview†. Not only it can carry more passengers, its â€Å"twin-configuration† seats can be separated to create more shoulder room for each and every passenger on board. The 24-tonne tri-axle coach with its unique design has taken into consideration all safety aspects for example, an emergency door on the upper deck that is in-line with the hidden ladder placed at the bottom deck, two escape hatches on the roof, a tapered roof design for greater stability, rear entry staircase, and seat belts for certain rows. Due to the fact that CNG cost is still cheaper than diesel, 74 CNG buses designed specifically for express type operations are planned to be on the road. These buses will be deployed mostly in the Transnasional southern Region in view of the potential availability of CNG’s refueling infrastructure. For Western Region, by relocating their main depot from Kuala Lumpur to Kajang in July 2007. Level of Hierarchy KTB’s organizational structure is one with a wide span of control that adopts a traditional approach. The organizational structure is based on or divided according to the company’s various business subsidiaries and there particular operations in terms of territory. These subsidiaries are headed by a Division Head or Regional General Managers. Employee Rewards One of the rewards for working with KTB are the free training programs they offer especially to their coach captains. Transnasional is collaborating with Automotive Center of Excellence (ACE) in providing professional refresher training for all of its coach captains. Courses are conducted by certified ACE Instructors which require all coach captains to undergo both theoretical and practical classes. Conflicts and Issues †¢Unfair pay. This is believed to be one of the most ongoing problems at KTB where most of the drivers were not ok with the payments they were receiving as salary for the work being done daily. Due to the many cases where at times you would find the bus station empty that’s was believed to be the problem but the resolved it and now the buses are working well with their drivers ready on time and happy with the salary increase. Long queues. This was another problem that was faced with the bus services where you had some people complaining that some people where not paying for the services others claiming that the drivers cheat them. So the introduction of e-ticketing was introduced as another way to legitimize the work so everyone feels comfortable and free in the bus so as a safe journey to passengers going on long dist ances. †¢Theft. This was another problem faced with the KTB buses. specially at the stations themselves where some people would come in disguise as passengers waiting for the bus and in the end they would end up stealing property from others like phones, bags, shoes, money which resulted to the stationing of police officers in most of the boarding zones, bus stations in a way to stop the theft so to ensure safety for the bus en the people travelling which is why it is one of the most reasons as to why it is recognized in Malaysia because it takes care of its passengers. Time. This is another problem that was not implemented upon till of recent when it was fixed where most passengers never knew when most of the buses where coming in. that led to some people cursing because they were never informed but now as I speak buses come by six o’clock, till midnight and they take 30 minutes each to report to the station. Recommendations Some of the recommendations I would make to include; †¢One Price. Fare increases could be determined by taking into account the turnover of bus operators and the cost analysis trend with that of the revenue as practiced in Europe. The turnover must be higher than the interest rate (loan) and the Consumer Price Index (CPI) to enable bus companies to make profit.

Study Review Micro Ch. 1 Essay Example

Study Review Micro Ch. 1 Essay Is the discipline of economics concerned with individual units such as a person, household, firm, or industry True Communism exhibits all the characteristics of a command system Which of the following describe a command system? Government ownwershiop of most or all property resources A government appointed central planning board Economics is a social Science concerned with the allocation of scarce Resources to meet the unlimited wants Of the members of a given society. Marginal analysis involves the comparison or evaluation of: * The incremental cost versus the incremental benefit of a decision * An good economic system must address the following questions: * What gods are to be produced? * How they are to be produced? Who gets what is produced? * * An equitable outcome is one where each individual affected is treated faily * * The economic question of what to produce is about decisions related to the mix of goods and services to make available in a given economy * * Which of the fol lowing results from scarcity with respect to economic resources? * The production of limited goods and services * The economic question of how to produce is about decisions related to the mix factor input land, labor, capital used to produce gods and services. * * True: In a command system, the government decides how a country’s resources will best be utilized * * A statement about economic behavior or the economy that enables prediction of the probable effects of certain actions is known as an: economic theory, and economic principle * * Due to scarce resources, every individual, whether rich or poor, is faced with an implicit cost when choosing to produce or consume more of one good over another. * False: Economcis, as a social science, is concerned with how to make money? * * Macroeconomics is the discipline that examines either the economy as a whole or in the aggregate. * * When comparing the additional or incremental cost verses additional or incremental benefits of a decision, one is engaging in: marginal analysis * * Which of the following describe the role of government in the United States form of capitalism? * Modifies the distribution of income, provides certain goods and services that would otherwise be underproduced or not produced at all. Promotes economic stability and growth * Pure capitablism is also known as laissez-faire capitalism. * * False: the three main decision that msut be addressed by an economic system include what gods are to be produced, who will produce them, and where they will be pr oduced. * * An economic system is a particular sset of institution arrangements and a coordinating mechansism that respons to the allocation of scarece resources to meet unlimited wants and needs. * * Natural resources, labor, human capital, physical capital and entrepreneurshop are all scarce resources priatley or collectibely owned by members of society. We will write a custom essay sample on Study Review Micro Ch. 1 specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Study Review Micro Ch. 1 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Study Review Micro Ch. 1 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Where these scarce resources are used to produce goods or services, there is a cost borne by society in utilizing these resources to produce any good or service and no free lunch * * Private property rights, coupled with the freedom to negotiate binding legal documents enables individuals and businesses to obtain, use, and dispose of property resources as they see fit. * * False: Governemtn owns most of the property resouces usch as land and capital in a market system. * * Consumers derive personal satisfaction from goods and services by: acting in a their own self interest. Allocating their time, energy, money and other resources so as to maximize their satisfaction from consuming these goods * * The term â€Å"laissez-faire refers to keeping government form interfering in the economy. * * A central planning board sets the division of output between capital and consumer goods in a command system? * * Positive economic analysis concernes what is, whereas normative economic analysis represent subjective statement about what ought to be. * * Which of the following gare all possible because of private property rights in a market system? * Economic growth, investment, maintenance of property, innovation, exchange