Economics for Transport Manager Essay Example | Topics and Well Written Essays - 3500 words

Economics for Transport Manager - Essay Example Besides the use of the sector in production purposes, it has great importance amongst the consumer class of the society. Transportation cost holds a significant amount in consumer’s budget. Moreover transportation costs determine the price of products with increase in the former, contributing to simultaneous increase in the later. Thus the main aim of this paper is to discuss the different aspects of transport economics along with identifying the importance of the sector in every economic transaction. Pricing in the transport sector of the economy depends on different and continuously changing factors. The factors that have been identified are the type of the transport, the different types of industry and the countries and towns in which the transport sector is functioning. Moreover the pricing mechanism of the private transport industry differs from that of public transport. Thus there arises the need of discussing the two different price mechanisms of average cost pricing an d marginal cost pricing for the transport industry. (Jansson & Martinsson, 2003, p6) Difference between average cost pricing of a monopolist and marginal cost pricing Average cost pricing is referred as the procedure of charging price by a monopoly. If P is the price of the monopolist and AC is the average cost then the approach of average cost pricing of monopolist is accomplished where P = AC. In case of average cost pricing the firm enjoys zero profit. In transportation, setting price equal to average costs means the provider will offer the service when the value of providing the service is at least equal to the average cost of the same. (Haworth, n.d) P A AC P=AC MC D O MR Q (Haworth n.d) In this diagram... It is clear, that transport is a significant sector of the economy. The paper therefore discusses the economics of the transport sector applicable to business perspectives. Firstly, the paper focuses on mechanisms of setting standard price as are used in this sector. Identifying the price mechanisms and the importance of a proper market structure to the management are the subsequent topics of discussion. Competition has been identified as essential for efficient functioning of a market. Truly being applicable for the transport sector of the economy, the next topic of discussion of the paper is the importance of competitive laws and the effect of improperly designed competitive laws on economic functioning with its applicability to the transport sector. Transportation holds a significant position in the consumer basket and increase in its cost affects the consumer price index. Moreover transportation acts as a tool in maintaining stability of the economy through proper distribution of goods and services. Improper functioning of the sector may lead to the increase in price of products through the increase in transportation costs. Thus the importance of transportation in the economy as well as in the life of common people is the main focus of this paper. To conclude it can be said that transportation is a sector that has huge importance in every aspects of economy. The costs of transport which is in turn dependant on fuel have a cascading impact on all other products and services.

Laws And Nursing Essay Example | Topics and Well Written Essays - 750 words

Laws And Nursing - Essay Example Nursing is the art of caring and tending to an ailing person or animal or any living thing for that matter. However, unlike other arts it also bears a deep relation with science (Cubacub, 2009). Owing to its artistic side nursing involves proficiency and also set methods and science in its most technical form owing to the scientific aspect. As with every other field in this world, nursing also incorporates within it, laws and ethics with nursing laws being based on nursing ethics. Ethics according to the Oxford Dictionary is ‘principles namely moral principles that govern how a person conducts an activity and the principles that govern a person’s behavior’ (Press, Ethics, 2010) . On the other hand the Oxford dictionary defines law in these terms (putting the meaning in simple words); the system of rules which a country employs and uses to regulate and control the actions and doings of its members (Press, Law, 2010). NMC, short for Nursing and Midwifery Council, is a council or a body that deals with almost every single side of nursing including the laws and ethics. It functions by regulating the nurses and midwives in different parts of the Great Britain such as; England, Scotland, Wales, the Islands and Northern Ireland (NMC, What we do, 2010). Their first and foremost concern is to safeguard and protect the wellbeing of public. (NMC, Factsheet: Assessment and investigation of fitness to practice referrals to the NMC, 2010) Informed consent in this matter is the most influential seeming aspect of law. It is a legal procedure that ensures the knowhow and knowledge of a patient regarding the potential risks and methods of a procedure or treatment plan (Cherry n.d.). This provides with an opportunity to the patients or clients in a health care system to make decisions regarding the matters of health and treatment plan. Consent could either be expressed or implied and depending upon the situation a t hand, either one of them is applicable and mandatory (Abbas 2012). Expressed consent is the most widely used and most applicable form of consent used in clinical practice. In this form, the patient willingly and verbally gives his consent regarding a medical or health procedure, etc. On the other hand, the patient does not verbally give consent in implied consent but rather his actions or body language clearly indicate that the consent has been given for example when a patient presents his arm for the administration of an injection, etc. however, the distinction between these two becomes unclear in clinical practice and requires careful evaluation of the situation by the physician and the nurse. Considering the role of a nurse in obtaining an informed consent, it is not the nurse’s duty to explain the technical details of a medical procedure but rather that of the physician. However, she is responsible for obtaining the patient’s signature on the consent form. These signatures imply that the consent was voluntary, not coercive and authentic and also that the nurse witnessed the physician asking for consent and the patient agreeing to it (Abbas 2012). In order for a nurse to protect herself from the legal implications, obtaining an informed consent is the most important and foremost responsibility. Any nurse who fails to do so is liable to legal action. Trehan and Sankhari (2002) explain in their work that any procedure started without first informing the patient about it and obtaining his consent would be labeled as â€Å"battery† which is liable to strict legal action being a crime in nature. Moreover they elucidate that blanket consent is no more valid in essence of legality. Not only this but also it is vital to document the consent taking for future medico-legal references. Ideally, a duplicate of the consent document should be handed over to the patient so that both parties possess the requisite information with them which can be re produced when need be (Trehan, Sankhari, 2002). As far as the legal perspectives of informed consent are considered, the