Worldwide trade.The advantages and disadvantages of free trade and the Research Paper

Worldwide trade.The advantages and disadvantages of free trade and the relative comparisons to fair trade - Research Paper Example Free trade is an economic concept in which trade between nations is opened up so that regulatory issues are minimized and equal opportunities for imports and exports can be experienced. The concept of free trade is dependent upon the idea that fairness will be established for those involved. However, there is a difference between free and fair, corporations finding ways to best exploit the lack of regulation in order to achieve the highest level of profit from the exploitation of resources. Free trade opens up the borders so that the movement of goods can flow back and forth so that maximum growth of a nations industry can be achieved. Free trade is established with the idea that fair competition exists, a mythological economic model in which all parties act in the best interests of all the stakeholders. However, free trade does have genuine benefits in creating an increase in industry in nations that are struggling to establish growth. When trade exists in a state where resources ar e more well utilized and allocated for the exchange on a global level, a healthier overall economy can be achieved. There are controversies, however, that come from the realities of free trade. People in the United States who are not in support of free trade fear it because they believe it represents losses in jobs and in industry through competition with nations who do not hold the same wage and environmental standards that are expected within the U.S. Defining Free Trade Free trade exists when respective governments allow trade across borders with very limited governmental interference. In a mutually beneficial agreement, the traders will find that they have comparative advantage and will achieve gains from the trade that have benefit for both parties. Supply and demand are the barometers from which the measurements of the amount of trade is divined. Free trade is a reflection of a global economy, each of the regions of the world benefiting from open borders where the exports and imports create better pricing. While this is the hope of free trade, this is not always the result. According to Irwin (2009), â€Å"Growing world trade has helped lift standards of living around the world, and yet today†¦free trade does not win many popularity contests† (p. 1). Free trade creates fears and insecurities about the availability of jobs and the sale of goods. When Japan rose in prominence as a dominating force in manufacturing during the 1980’s, there was a fear that the competition would wipe out a consecutive stream of businesses within the United States. Japan was competing successfully in the sale of everything from automobiles to super computers, diminishing the power that the United States had gained over innovation and industry in the previous decades. In the 21st century, that worry has been shifted to India and China. India is dealing in labor as industry is taking white collar jobs into that country due to the lower wages while China is exc elling at manufacturing, creating product that is far cheaper than can be created in the United States. One of the primary agreements that frames free trade in association with the United States is NAFTA, the North American Free Trade Agreement. This agreement allows for free trade among Mexico, Canada, and the United States. The fears that were most associated with the agreement when it was signed in 1993 was that jobs would flow south into Mexico. However, the advantage to NAFTA was in abolishing the high tariffs that Mexico had imposed on exports, while the low import tariffs that the United States had maintained were insignificant (Irwin 2). This allowed for products to be exported from the United States into Mexico and increase trade flow southward. NAFTA According to Hufbauer and Schott (2005), NAFTA has been a tremendous success, trade

How To Develop Pricing Strategy For A Product Marketing Essay

How To Develop Pricing Strategy For A Product Marketing Essay This Paper tries to link between the first two components of a marketing mix: product strategy and pricing strategy. In order to help decision makers to define the optimum pricing strategy for product mix. Marketers broadly define a product as a bundle of physical, service, and symbolic attributes designed to satisfy consumer wants. Therefore, product strategy involves considerably more than producing a physical good or service. It is a total product concept that includes decisions about package design, brand name, trademarks, warranties, guarantees, product image, and new-product development. The second element of the marketing mix is pricing strategy. Price is the exchange value of a good or service. An item is worth only what someone else is willing to pay for it. In a primitive society, the exchange value may be determined by trading a good for some other commodity. Pricing strategy deals with the multitude of factors that influence the setting of a price. Table of Contents Introduction This paper will review each of the variables that affect the optimum pricing strategies of a product, the researcher will start with defining The product and exploring how product classification can affect the product mix decision in the firm, then researcher will study the product life cycle and how it can affect the pricing and marketing strategies during the different stages of the cycle. Secondly the researcher will tackle the pricing as one of the marketing strategies and what can affect the pricing strategy either internally from inside the firm or externally from outside the firm, finally researcher will define the linkage between pricing strategy, marketing strategy and the product mix. Problem Statement How to define the optimum pricing strategy for product mix as part of the firm marketing strategy Research Questions What is a product and how product classification can affect the Product mix decision for a firm? What is the linkage between the product life cycle and marketing strategy? What are the different pricing objectives? What factors are affecting the pricing strategy for a product? What is the linkage between pricing strategy, product and marketing strategy? Marketing Strategies Marketing Planning begins with formulating an offering to meet target customers needs or wants, where the customer will judge this offering by mainly two elements; product features and quality, and price. (Kotler Keller, 2009) Before a new product launch, marketers create marketing programs to maximize the chance of success. This is often a challenging managerial decision because, to set the appropriate pricing levels, managers must have reliable estimates as to how sales would respond to different levels of a marketing-mix variable. (JACKIE LUAN SUDHIR, 2010). The long term performance of mature product will be affected by the integrated marketing strategy including pricing (BERK ATAMAN, VAN HEERDE, MELA, 2010). Product Product is no more a tangible offering, but it can be more than that, Product can be anything that is offered to a market to satisfy a want or a need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. (Kotler Keller, 2009) There are many aspects of product development to consider. A product or service has features: function, appearance, packing, and guarantees of performance that help people solve problems. When designing a product, marketers should address the issue of product classes. (Smith Strand, 2008) Product Classification Products are classified on the basis of; durability, tangibility and use (consumer or industrial), where each product type has its appropriate marketing strategy. (Kotler Keller, 2009) Durability and Tangibility: The products can be sub-classified into three categories according to the durability and tangibility; where goods can be either nondurable goods, durable goods or a service. Nondurable Goods will be tangible, normally consumed in one or a few uses and they are purchased frequently, such as soap. Durable Goods are tangible goods that survive many uses, such as refrigerators. Services are intangible, inseparable and perishable products. Consumer Goods Classification: According to the consumers shopping habits; products can be sub-classified into convenience, shopping, specialty, and unsought products. Consumer purchase Convenience Goods frequently and with minimum efforts such as soaps and soft drinks. When the consumer characteristically compare on bases of suitability, quality and price, this is a Shopping Goods such as furniture. Specialty Goods are goods with unique characteristics for which a sufficient numbers of consumers are willing to make a special purchasing effort such as sportive cars. There are another category of goods that consumer doesnt normally think of buying such as life insurance which is classified as Unsought Goods. Industrial Goods Classification: According to the goods relative cost and how they enter the production process; Industrial goods can be sub classified into Material and Parts, Capital Items, and Supplies and Business Services. Material and Parts are goods that enter the manufacturers product completely such as raw materials. Capital Items are long lasting goods that facilitate developing or managing the finished products, such as buildings and heavy equipment. Supplies and Business Services are short-term goods and services that facilitate developing or managing the finished goods, such as maintenance and repair. Product Mix The Product Mix is the totality of product lines offered by a company. Product mix decisions involve varying their width, depth and consistency. Mix width refers to the number of different product lines the company carries. Mix consistency includes assessing the relationship between product lines in terms of common end uses, prices, distribution outlets and markets served. (Clemente, 2002) Before a new product launch, marketers have to create marketing programs to maximize the chance of success. In other words, they must forecast the market responsiveness to various marketing-mix variables. Although there is substantial literature on new product sales forecasting, there has been scant research related to forecasting marketing-mix responsiveness before a new product launch. (JACKIE LUAN SUDHIR, 2010) Determining the product-mix is one of the most important decisions relating to planning. Such decision implies utilizing limited resources to maximize the net value of the output from the production facilities. The quantity produced from each product in a certain time period results in utilizing certain resources for that time, consuming certain amount of raw materials, using certain labor skills and various production centers, and so on. The objective of the product-mix decision in the overall production plan is to find the product mix and the production program that maximizes the total contribution to profit/throughput subject to constraints imposed by resource limitations, market demand, and sales forecast. (Al-Aomar, 2000) The product designer should take into account both marketing and engineering considerations concurrently in a product line design. (LUO, 2011) Linkage between Product Classification and Product Mix In offering a product line, companies should offer basic platform of products and modules that can be added to meet different customers requirements, this approach enables companies to offer variety of products and to lower their production cost, therefore; each product line manager has to know the sales and profits of each item in his product line in order to determine which product mix strategy to implement, and to know which items to build, maintain, harvest, or divest. (Kotler Keller, 2009) Product classification has implication on how companies will formulate their product mixtures and what marketing strategies will be applied per each product mix, knowing at what class is the product along with well orientation of the product mix will be positively beneficial for both to the producer as well as to the consumers. The followings are some relations between product classification and product mix. (ADEOTI, 2010) Durability and Tangibility Classification and Product Mix: For durable and non-durable goods, there is a reflection on the life expectancy of the product. These classifications have strategic implications to the producer. Durable products are purchased infrequently and require personal selling. Perishable products need speedy distribution and luxury goods can be priced highly. Consumer Goods Classification and Product Mix: Convenience goods could be staples like food items bought on regular basis often by habit. It could also be impulsive items which are purchased, not because of planning but because of strongly felt need. It could also be emergency products which are needed to solve an immediate crisis. Brand Name would be very important for staple products while impulse products require a captivating packaging signal that will attract the consumers. For emergency products the consumers are less sensitive to price, therefore it is a circumstantial product. The understanding, of the buying behavior of the consumers for each of these sub-categories of convenience goods and the product characteristics will inform the producer on the appropriate marketing strategy options to be taken for higher returns. Shopping goods are bought rather infrequently and are used up very slowly. For homogenous shopping goods the prices should be relatively in the same range with other products in the same homogenous shopping goods category. For heterogeneous shopping goods consumers should consider the tangible features of these products and the associated services on offer before making a buying decision. Consumers are not usually sensitive to prices of heterogeneous shopping goods provided the product has some demonstrable advantage over its competitors. Promotional activity for this category of shopping goods should focus on pointing out unique attributes of the product rather than low prices. Specialty goods are products that have no acceptable substitutes in the mind of the consumer, where the uniqueness and superiority of the Specialty product stems from unrivalled quality superiority or design exclusivity. Specialty brands are what should be created. Producer should be encouraged by this superiority complex of the buyers and should not demean the quality. Consumers of such products are insensitive to price. Hence the mark up could be high for the targeted market, for unsought products, the consumer has no felt need for it. Many new products fall into this category, until their usefulness is known the consumer is not disposed to buying them. Personal selling and wide advertisement is required for unsought goods. There may be a need to even launch the product officially in the market place. Industrial Goods Classification and Product Mix: Installations goods are long-lasting products that are not bought very often. The number of potential buyers at any given time is usually small. These consist of buildings and fixed equipment. The producer must design it to specification and to supply post sale services. Accessory equipment; these comprise of portable factory equipment and tools. This equipment does not become part of the finished product; they simply help in the production process. Quality features, price and services are major considerations in vendor selection. Raw materials; these are goods that have been produced only enough to make handling convenient and safe. They enter the manufacturing process basically in their natural state. They originate either from agriculture or from industries such as mining and lumbering. Examples are cotton, man cue, crude oil and most farm produce. Fabricating materials; these undergo some degree of initial processing before they enter the product manufacturing process. This may be a relatively basic step such as changing iron ore into pig iron or wheat into flour. In other cases an ingredient may be completely prefabricated, such as an automobile tire or an electric motor for home appliance. The more complicated a product is, the more likely it is to contain both raw and fabricating materials. Facilitating goods; these are operating supplies that are used up in the operation of the firm but do not become part of the product. They are usually budgeted as expenses and have short life. The purpose of such goods is to keep the foundation goods functioning properly and to help in the handling and supply of the entering goods. Examples are lubricating oil; saw blades, cider forms and labels. The Product Life Cycle Product life-cycle (PLC) like human beings, products also have an arc. From birth to death, human beings pass through various stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in the case of products. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life cycle (PLC) has to do with the life of a product in the market with respect to business/commercial costs and sales measures. (Niemann, Tichkiewitch, Westkà ¤mper, 2008) Product value and life are usually expected to follow the product life cycle (PLC), wherein products are expected to move from an investment toward a profitable mature peak that ends when the product is phased out. However; Christiansen et al assume that the value of a product is relational and that relationships between products and consumers are created, broken, and recreated. Value creation is a never-ending process, in that the product should be considered to be a process by which value constructions are constantly negotiated in actor networks. (Christiansen, Varnes, Gasparin, Storm-Nielsen, Vinther, 2010) Christiansen et al (2010) have concluded some actors that make the product timeless: Flexibility and adaptability that make it possible for the product to travel to new places and participate in new qualification processes and attach to new actors and be part of new networks. The ability to connect to different networks simultaneously as part of a network that stresses the high-end market attaching to the need for having a distinctive product to some, being a classical piece of sculpture-furniture to others and being related to contemporary artistic expressions to yet others. A strong core that provides the product with a unique and significant identity or expression, allowing for temporal interpretations or additions and modifications. Framing devices that help to position the product in settings that continue to present the product as relevant and useful in changing networks in a context in which others are constantly trying to get customers to attach to other networks. Serendipity-as fortune and misfortune cannot be accurately predicted or calculated when the out- come is a product of multiple connections over long time spans among potentially numerous human and non-human actors. Linkage between Product Life Cycle and marketing Strategies The product life cycle concept provides important insights for the marketing planner in anticipating developments throughout the various stages of a products life. Knowledge that profits assume a predictable pattern through the stages and that promotional emphasis must shift from product information in the early stages to heavy promotion of competing brands in the later ones should improve product planning decisions. Since marketing programs will be modified at each stage in the life cycle, an understanding of the characteristics of all four product life cycle stages is critical in formulating successful strategies. (Skidmore, 2005) Skidmore (2005) has divided the product life cycle into mainly four stages; Introduction Stage In the early stages of the product life cycle, the firm attempts to promote demand for its new market offering. Because neither consumers nor distributors may be aware of the product, marketers must use promotional programs to inform the market of the items availability and explain its features, uses, and benefits. New-product development and introductory promotional campaigns are expensive and commonly lead to losses in the first stage of the product life cycle. Yet these expenditures are necessary if the firm is to profit later. Growth Sales climb quickly during the products growth stage as new customers join the early users who are now repurchasing the item. Person-to-person referrals and continued advertising by the firm induce others to make trial purchases. The company also begins to earn profits on the new product. But this encourages competitors to enter the field with similar offerings. Price competition appears in the growth stage, and total industry profits peak in the later part of this stage. To gain a larger share of a growing market, firms may develop different versions of a product to target specific segments. Maturity Industry sales at first increase in the maturity stage, but eventually reach a saturation level at which further expansion is difficult. Competition also intensifies, increasing the availability of the product. Firms concentrate on capturing competitors customers, often dropping prices to further their appeal. Sales volume fades late in the maturity stage, and some of the weaker competitors leave the market. Firms spend heavily on promoting mature products to protect their market share and to distinguish their products from those of competitors. Decline Sales continue to fall in the decline stage of the product life cycle. Profits also decline and may become losses as further price cutting occurs in the reduced market for the item. The decline stage is usually caused by a product innovation or a shift in consumer preferences. The decline stage of an old product can also be the growth stage for a new product. Pricing The meaning of the price is broader than the traditional definition The price of a product or service is the number of monetary units a customer has to pay to receive one unit of that product or service. (Blois, Gijsbrechts, Campo, Oxford Textbook of Marketing, 2000) Blois et al (2000) have believed more in Hurt and Speh definition of the pricing where they believe that the cost of an industrial good includes much more than the sellers price, where they have concluded that implications of pricing is crucial to managers facing the pricing decision, therefore decision-makers have to consider the multidimensional view on prices. Additionally they have to recognize that complex pricing schemes may be needed, including a system of prices for different types of customers, product packages, and time periods. This observation is the essence of strategic pricing. Pricing strategy STRATEGY is the means by which an organization seeks to achieve its objectives (Adrian., 2000) Adrian (2000) explained how Strategic decisions about pricing cannot be made in isolation from other strategic marketing decisions, so, for example, a strategy that seeks a premium price position must be matched by product development strategy that creates a superior product and a promotional strategy that establishes in buyers minds the value that the product offers. Adrian (2000) then explained the relation between pricing strategy and the concept of positioning, where a strategy that combined high price with low quality may be regarded by customers as poor value and they are likely to desert such companies where they have a choice of suppliers. For most companies, such a strategy is not sustainable. A high quality/low price strategic position may appear very attractive to buyers, but it too may not be sustainable. Back to Blois et al (2000) where they highlighted how the price is also a component of the marketing mix and therefore impacts on overall sales via its contribution to the consumers perception of the products image. Pricing Objectives Marketing attempts to accomplish certain objectives through its pricing decisions. Research has shown that pricing objectives vary from firm to firm. Some companies try to maximize their profits by pricing their offerings very high. Others use low prices to attract new business. (Palmer, 2000) As per Palmer (2000); the three basic categories of pricing objectives are: Profitability Objectives Profit maximization is the basis of much of economic theory. However, it is often difficult to apply in practice, and many firms have turned to a simpler profitability objective-the target return goal. For example, a firm might specify the goal of a 9 percent return on sales or a 20 percent return on investment. Most target return pricing goals state the desired profitability in terms of a return on either sales or investment. Volume Objectives Another example of pricing strategy is sales maximization, under which management sets an acceptable minimum level of profitability and then tries to maximize sales. Sales expansion is viewed as being more important than short run profits to the firms long-term competitive position. A second volume objective is market share; the percentage of a market controlled by a certain company, product, or service. One firm may seek to achieve a 25 percent market share in a certain industry. Another may want to maintain or expand its market share for particular products or product lines. Social Objectives Objectives not related to profitability or sales volume; can be either of social and/or ethical considerations, status quo objectives, and image goals are often used in pricing decisions. Social and ethical considerations play an important role in some pricing situations. For example, the price of some goods and services is based on the intended consumers ability to pay. For example, some union dues are related to the income of the members. Internal factors affecting pricing Company objectives and strategies An essential ingredient of effective prices is their consistency with company objectives and overall marketing strategy. The realization of company objectives necessitates the development of an overall marketing strategy. To be effective and efficient, the companys pricing decisions must fit into this strategy, and be in line with decisions on other marketing-mix elements. Also, prices should not be set as an afterthought. Reflections on appropriate prices should occur at the time the product, communication, and distribution are conceived, because the different instruments of the mix have a synergetic influence on the market. There is ample evidence that the impact of pricing strategies and structures depends on the companies communication and distribution approach and on the products characteristics. (Blois, Gijsbrechts, Campo, Oxford Textbook of Marketing, 2000) Costs Costs have traditionally played a major role in pricing decisions. They constitute a basic ingredient for setting a price floor or lower boundary on acceptable prices. Cost Classification Costs can be classified along different dimensions. (Blois, Gijsbrechts, Campo, Oxford Textbook of Marketing, 2000) First Dimension First dimension concerns the degree to which costs can be directly attributed to specific products; where costs can be either direct traceable, indirect traceable or general costs. Direct traceable costs can be immediately associated with individual products, such as the cost of raw materials. Indirect traceable costs are not directly linked to, but can with some effort be traced back to, individual products, such as the cost of filling shelves is illustrative of this type. General costs, finally, cannot be linked to specific products, such as administrative overhead costs. Assessing direct traceable costs, and attributing indirect traceable costs, are important for pricing. Second Dimension Equally crucial is the distinction between variable and fixed costs. Which of these components should enter the pricing decision depends on the companys objective. For profit-maximizing companies, fixed cost may not affect optimal prices. Yet, for not-for-profit companies maximizing sales or participation subject to a deficit constraint, fixed cost may have a major effect on feasible outcomes. The companys time horizon also has a fundamental impact on the costs to be considered. Whether costs are fixed or variable depends on the time frame adopted by the company. Third Dimension Cost dynamics; where Short-term costs may differ from long-term cost levels as a result of changes in the scale of company operations. Economies of scale arise if the cost per unit decreases with the output level in a given period. This could be the result of the facility to share corporate resources across products, the use of more efficient (large-scale) production facilities, long production runs, access to volume discounts in purchases, or shipment in full carload or truckload lots. Experience effects are a second major source of declining production costs. Linkage between cost and pricing strategy As argued above, costs are related to price floors: they typically set a lower bound on prices. The contribution margin for a product equals its price minus its unit variable cost: if negative, selling the product at that price leads to a loss; if positive, at least part of the fixed cost can be recovered. While this principle seems utterly simple, the foregoing discussion illustrates that the determination and quantification of all relevant costs may be far from evident. The notion of costs as a price floor is blurred by product inter-dependencies, cost dynamics, cost allocation over channel members and company subsidiaries, and the pursuit of multiple company objectives. Yet, knowledge of basic cost components remains a crucial input to the pricing decision, and companies should strive for a complete picture of various cost issues. (Blois, Gijsbrechts, Campo, Oxford Textbook of Marketing, 2000) External factors affecting pricing AS well as there are internal factors that affect the firm, there are also many external factors that affect the firm that must be taken into account when prices are set. It is useful to consider these in four groups; first the characteristics of the customers themselves and then three aspects of the environment within which the firm operates. (Blois, Gijsbrechts, Campo, Oxford Textbook of Marketing, 2000) Customer characteristics Price-volume relationship (price sensitivity) The customers price sensitivity is usually measured by the price elasticity; the price elasticity is the relative change in demand (sales) resulting from a relative change in the unit price of the product. The price elasticity is affected by four factors; firstly, measured price sensitivities depend on how demand is quantified: market-share changes in response to price are typically larger than sales changes. Secondly, the nature of the price change affects elasticity outcomes. Market reactions to a regular price change may be different from response to temporary promotional price cuts. Thirdly, the level of price elasticity depends on distribution and communication, but especially on product characteristics. Products or services with a unique brand value are said to be less sensitive to price changes. Finally, price elasticity changes over the product life cycle (PLC). The traditional view is that price sensitivity increases as the product evolves over the life cycle, price sensitiv ity first declines as the product moves from the introduction to the growth and maturity stage, and then increases in the decline phase of the PLC. Individual consumers The traditional microeconomic picture of a consumer who correctly registers all prices and price changes, and acts rationally upon them so as to maximize his utility, has been falsified for quite some time. Consumers are heterogeneous in their levels of price search, knowledge, and recall accuracy. Consumers also differ in the location of their acceptable price range: they have different upper and lower price limits, different reference price levels, and different latitudes of acceptance around the reference price. A wide range of factors may explain these differences. Economic factors, such as perceived price differences, budget restrictions, and income levels, are a first source of heterogeneity. Search and transaction costs stemming from time constraints, mobility restrictions, age, household composition, and location, also affect consumer price processing and evaluation. Thirdly, human-capital characteristics such as time-management skills and basic knowledge may come into play. Fourthly, the level of price processing depends on the expected psychosocial returns from price information collection and product adoption, which are often related to culture and peer group. Finally, consumer traits like variety-seeking versus loyalty cause consumers to react differently to prices. As will be argued in subsequent sections, recognition of consumer heterogeneity is crucial for effective pricing: managers should exploit these differences in the development of pricing strategies and tactics. Industrial customers Industrial decision is believed to be more rational and based on more complete information. Price would, for example, be less often used as a quality signal in industrial settings. Other factors such as the importance in the total cost of the end product and the importance in the functioning of the end product are deemed more important determinants of the price sensitivity of industrial buyers than of individual consumers. Competitive environment In determining prices, the competitive environment should explicitly be accounted for. The level of demand associated with a given company price strongly depends on prevailing competitive prices. Moreover, in a dynamic setting, not only must current prices of competitors be taken into account, but so should competitive reactions. Competitive retaliation may attenuate pricing effects. It could even provoke price wars where prices of all market players are systematically reduced, possibly to unprofitable levels. Careful analysis of competition is, therefore, a prerequisite for effective pricing. Channel environment Most companies operate within a marketing channel: they obtain products, components, and/or materials from suppliers; and many pass their products onto intermediaries before they reach the end-users. The characteristics of the channel, and the (associated) reactions of channel members, strongly affect the nature of the pricing problem as well as the effectiveness of alternative pricing strategies, structures, and instruments. Legal environment In setting prices, managers must be aware of legal constraints that restrict their decision freedom such as: Consumer pricing regulations Governments can influence final consumer prices indirectly by means of VAT rates. They can also control prices directly by imposing price ceilings or price floors for specific product categories. Besides imposing restrictions on absolute price levels, governments can limit the freedom of co

Catcher In The Rye :: essays research papers

Catcher in the rye Catcher in the Rye Holden and His "Phony" Family The protagonist, Holden Caulfield, interacts with many people throughout J.D. Salinger’s novel The Catcher in the Rye, but probably none have as much impact on him as certain members of his immediate family. The ways Holden acts around or reacts to the various members of his family give the reader a direct view of Holden’s philosophy surrounding each member. How do Holden’s different opinions of his family compare and do his views constitute enough merit to be deemed truth? Holden makes reference to the word "phony" forty-four separate times throughout the novel (Corbett 68-73). Each time he seems to be referring to the subject of this metaphor as -- someone who discriminates against others, is a hypocrite about something, or has manifestations of conformity (Corbett 71). Throughout The Catcher in the Rye, Holden describes and interacts with various members of his family. The way he talks about or to each gives you some idea of whether he thinks they are "phony" or normal. A few of his accounts make it more obvious than others to discover how he classifies each family member. From the very first page of the novel, Holden begins to refer to his parents as distant and generalizes both his father and mother frequently throughout his chronicle. One example is: "…my parents would have about two hemorrhages apiece if I told anything personal about them. They’re quite touchy about anything like that, especially my father. They’re nice and all – I’m not saying that – but they’re also touchy as hell" (Salinger 1). Holden’s father is a lawyer and therefore he considers him "phony" because he views his father’s occupation unswervingly as a parallel of his father’s personality. For example, when Holden is talking to Phoebe about what he wants to be when he grows up, he cannot answer her question and proceeds to give her his opinion about their father’s occupation.. ‘Lawyers are all right, I guess – but it doesn’t appeal to me,’ I said. ‘I mean they’re all right if they go around saving innocent guys’ lives all the time, and like that, but you don’t do that kind of stuff if you’re a lawyer. All you do is make a lot of dough and Catcher In The Rye :: essays research papers Catcher in the rye Catcher in the Rye Holden and His "Phony" Family The protagonist, Holden Caulfield, interacts with many people throughout J.D. Salinger’s novel The Catcher in the Rye, but probably none have as much impact on him as certain members of his immediate family. The ways Holden acts around or reacts to the various members of his family give the reader a direct view of Holden’s philosophy surrounding each member. How do Holden’s different opinions of his family compare and do his views constitute enough merit to be deemed truth? Holden makes reference to the word "phony" forty-four separate times throughout the novel (Corbett 68-73). Each time he seems to be referring to the subject of this metaphor as -- someone who discriminates against others, is a hypocrite about something, or has manifestations of conformity (Corbett 71). Throughout The Catcher in the Rye, Holden describes and interacts with various members of his family. The way he talks about or to each gives you some idea of whether he thinks they are "phony" or normal. A few of his accounts make it more obvious than others to discover how he classifies each family member. From the very first page of the novel, Holden begins to refer to his parents as distant and generalizes both his father and mother frequently throughout his chronicle. One example is: "…my parents would have about two hemorrhages apiece if I told anything personal about them. They’re quite touchy about anything like that, especially my father. They’re nice and all – I’m not saying that – but they’re also touchy as hell" (Salinger 1). Holden’s father is a lawyer and therefore he considers him "phony" because he views his father’s occupation unswervingly as a parallel of his father’s personality. For example, when Holden is talking to Phoebe about what he wants to be when he grows up, he cannot answer her question and proceeds to give her his opinion about their father’s occupation.. ‘Lawyers are all right, I guess – but it doesn’t appeal to me,’ I said. ‘I mean they’re all right if they go around saving innocent guys’ lives all the time, and like that, but you don’t do that kind of stuff if you’re a lawyer. All you do is make a lot of dough and

The Dc Motor Speed Control Methods Engineering Essay

AbstractionThis paper describes the Matlab and simulink converts into actuality of the DC motor velocity control methods, viz. field opposition, armature opposition control methods and armature electromotive force, and feedback control system for DC motor thrusts and this paper describes mathematical modeling, simulation of DC motor system utilizing computing machine simulations Matlab and simulink, by this system response to alter assorted parametric quantities like system stableness, perturbations, analysis and optimisation of theoretical account parametric quantities with regard to the quality of control. If simulation techniques are used for finding the control parameters a simulation theoretical account is necessary, which has to be constructed from the analytical theoretical account.IntroductionDC Motor is an electrical motor and it most normally used in an electrical device for easy to drive the instruments, steel turn overing Millss, electric Cranes, and robotic operators due to precise, broad, simple, and uninterrupted control features. To command the velocity of low power DC Motor rheostatic armature control method were used. The basic parts of the DC motor are- axle, rotor ( armature ) , stator, commutator, field magnet, and coppices. In the geometry of coppices, commutator contacts, and rotor twists are arranged in such a mode so that when power is applied so mutual oppositions of the energized twist and the stator magnets are misaligned and the rotor will get down to revolve until it is about aligned with the stator ‘s field magnets. When the rotor reaches to alignment, the coppices move to following commutator contacts, and stimulate the following twist. There are variable types of DC Motor available in market with the good and bad qualities. Bad quality means slowdown in efficiency. To retrieve or halt this sort efficiency job accountant is introduce in the system. Brushed DC motors are most widely used in applications and its ranging from plaything to push-button adjustable auto seats. Brushed DC ( BDC ) motors are cheap but easy to drive. Brushed DC motors are easy available in all size and form with the broad scope from large-scale industrial theoretical accounts to little motors for light applications ( such as 12 V DC motors ) ..BDC motors are most normally used in easy to drive, with variable velocity and high start-up torsion applications.AimThe Fig.1 shows the parallels electrical circuit.ModelingThe circuit which was given is drawn in the Matlab by utilizing simulink. In the circuit diagram the flow of currentBLOCK DIAGRAMFigure shows the block diagram of DC motorTRANSFER FUNCTIONK/ { ( Ls+R ) ( Js+f ) +K2 }i? ±1/s Vapp Fig 4.1. Transfer FunctionState SPACE MODELAs we know that, V- .†¦ . ( 1 ) †¦.. ( 2 ) Substituting equation ( 2 ) in ( 1 ) †¦ †¦ . ( 3 ) †¦ .†¦ ( 4 ) †¦Ã¢â‚¬ ¦ . ( 5 ) Substituting ( 5 ) in ( 4 ) – †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ( 6 ) Differentiating ( 6 ) , we get †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ( 7 ) Puting ( 3 ) in ( 7 ) , we get †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ( 8 ) Now †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ( 9 ) Substituting ( 9 ) in ( 8 ) , we get We know that x=Ax + Bu Y=Cx + Du X= The State Space Model represents by the additive equation and it is written as. x= Ax + Bu Y = Cx + Du Below figure shows the province infinite theoretical account ( Calculation is in appendix ) Figure 5.1 State Space ModelPHYSICAL SystemSee a DC Motor, in this electrical circuit of the armature and free organic structure diagram of rotor are shown in figure below. hypertext transfer protocol: //zone.ni.com/cms/images/devzone/tut/mpm-2-motor1.gif Fixture: – DC Motor is a common actuator in control systems.Brushed DC Motor basicssA Brushed DC Motor consists of stationary fixed lasting magnets i.e. stator, a revolving electromagnetic i.e. rotor and flux, which is concentrated by metal. Rotor rotate by the attractive force of the opposite poles and repulsive force of the similar poles, it cause to bring forth torsion and torque Acts of the Apostless on rotor and so do it turn. As the rotor start to revolve or turn so fixed coppices make and interrupt the contact in such a manner that with the revolving sections ( commuting ) . The rotor spiral of the brushed motor energized and de-energized in such a manner so that the rotor start to bends. By reassigning the power to the motor, current generate in rotor spirals and therefore the North and south poles are reversed and because of the motor change the way. From the Strength of the magnetic field, velocity and torsion of the motor depend Figure ( 1 ) Brushed DC MotorPrinciple OPERATIONConstruction and operation of the Brushed DC Motor is shown below in figure ( 2 ) .for the building of the BDC motor ever the same constituents are required i.e. Stator, rotor, commutator and coppice. Figure ( 2 ) Simple two-pole brushed DC MotorStatorThe rotor surrounded by the stationary magnetic field which is generated by the stator and this filed is generated by the lasting magnet or electromagnetic twist. On the building of the stator, different types of BDC distinguish.RotorRotor is besides known as an armature and it is made up of one or more twists. Magnetic field is produce when they energized. When the opposite pole of the magnetic poles, pull to each other which is generated by the stator, and doing the rotor to turns. The opposite poles are ever pulling to each other. As the motor turns, the twists are being invariably energized. This divergence of the field in the rotor is called as an armature.Brushs and commutatorThere is no demand of accountant in BDC to exchange current in motor twist. The commuting twist of the BDC motor is done automatically. Reside on the axel of rotor there is a metameric Cu arms called commutator. Carbon brushes slides over the commutator co ming in a contact with the different sections of the commutator as the motor starts to turn. When the electromotive force is applied across the coppices of the motor so dynamic magnetic field is generated inside the motor. Brushes and commutator are the most of import parts of the BDC motor that are most prone to have on because they are the skiding portion to each other.Speed ControlThe Speed of a DC Motor is straight relative to the electromotive force. By utilizing the digital accountant electromotive force can be control and to bring forth the mean electromotive force pulse-width modulated ( PWM ) signal is used. In motor there is a motor weaving which acts as a low base on balls filter so PWM develop a suited current in the motor twist.AdvantageCheap in monetary value because low cost of building. Widen a life by replacing a coppice. Cheap motor and simple control. Speed/Torque is normal at high velocity. On fixed velocity no control is required, Controller is required merely at variable velocity in this status same accountant can be used.DisadvantageCare is required for brushed DC Motor because of coppice. If the coppice clash additions, cut down the utile torsion. Heat dissipation is hapless because of internal rotor building. Speed scope is limited because of the mechanical restriction on coppices. Life is besides shorter. Noise is generated due to brush. Application illustrations: traveling playthings, fans, pressmans, automatons, electric motorcycles, -doors, -windows, -sun roofs, -seats, sociables, nutrient processors, can openers, liquidizers, vacuity cleaners, toothbrushes, razors, java bombers, etc.Physical ParametersMoment of inactiveness of the motor ( J ) = 9.89 E-7 kilogram Nm s/rad Muffling ratio of the mechanical system ( B ) = 5.84E-7 Nm s/rad Electromotive force or motor changeless ( K=Ke=Kt ) = 0.008 Nm/-w Electric opposition ( R ) = 0.80 ohms Electric induction ( L ) = 0.00041H Friction coefficient, degree Fahrenheit Input ( V ) : Beginning Voltage Output ( theta ) : place of shaft the rotor and shaft are assumed to be stiffDecisionBrushed DC motors are really simple to utilize and easy to command, which makes them a short design-in point. PIC microcontrollers, particularly those with CCP or ECCP faculties are ideally suited for driving BDC motors.Refferencehypertext transfer protocol: //www.wiringdiagrams21.com/2009/09/26/circuit-diagram-for-dc-motor-control-by-a-collins hypertext transfer protocol: //www.nxp.com/documents/application_note/AN10513.pdf hypertext transfer protocol: //ww1.microchip.com/downloads/en/AppNotes/00905a.pdf hypertext transfer protocol: //www.orientalmotor.com/MotionControl101/AC-brushless-brushed-motors.html hypertext transfer protocol: //ww1.microchip.com/downloads/en/AppNotes/00885a.pdf hypertext transfer protocol: //www.dynetic.com/brushless % 20vs % 20brushed.htm file: ///D: /matlab/index.php.htm

Sale & Attachment of Property in Execution Decree

Chapter – I Introduction & Research Methodology 1. Introduction: The passing of a decree by a competent court conclusively determines the rights of the parties with regard to all or any of the matters in controversy in the suit, thus creating substantive rights in favour of the decree-holder. However, lately it has been seen that instead of following the terms and conditions of the decree, judgment-debtors have been placing a number of obstacles in the way of a decree-holder. In fact, such a trend has become so prevalent that it has forced the Supreme Court to opine that ‘the difficulties of a litigant begin when he has obtained a decree’. Conscious of the significance and importance of giving effect to the decree and orders passed by competent courts, the Code of Civil Procedure provides for elaborate rules for the execution of decrees. In an attempt to ensure that a decree-holder is able to realize the benefits out of the decree, the Code of Civil Procedure gives a number of modes for the execution of decrees. One of these modes of execution of decrees is the process of attachment and sale of the properties of the judgment-debtor. Since, a decree holder does not by virtue of the judgment, get a right to the property, he cannot get the right by way of filing a suit but by attachment and sale in execution. While through the process of attachment the court informs the world that the property so ordered to be attached is â€Å"in its view† and â€Å"no existing rights and liabilities should be altered†; through the process of sale of the properties of the judgment-debtor, the Court diverts the money so collected to the decree-holder in satisfaction of his claim. However, by its very nature property may be of different types. Therefore, a judgment-debtor may possess either movable or immovable properties, or both. Thus, keeping in regard the differing characteristics of these two types of properties, the Code of Civil Procedure prescribes different procedures for the attachment and sale of movable and immovable properties. It is the endeavour of this project to examine the process of attachment and sale of movable and immovable property in a money decree and to intellectualize the reasons for the different process for the attachment and sale of movable and immovable property. 2. Research Methodology: The research scheme undertaken by the researcher is comprised of doctrinal study of the books available at the library of the Institute of Law and besides that the researcher has also taken the help of the internet to look into some of the Interpretation of some cases and principle of natural justice and the researcher the also taken in view the various cases which are relevant for the research work. 3. Research Hypothesis: †¢ What are the conditions under which attachment & sale of property becomes necessary, can it be done & how it is done. . Aim of Research: The aim of this project is to find out why sometimes it becomes very much necessary for the attachment of property even after the judgement has been declared & to examine the different ways under Code of Civil Procedure which provide for sale and attachment of property. 5. Scope & Limitation of Research: The scope of this project is limited to the study of the various provisions regarding attachment and sale of property in execution of decrees provided for in the Code of Civil Procedure. Chapter – II Attachment of Property . General: Section 51 (b) empowers the court to order execution of decree by attachment and sale or by sale without attachment of any property. The court is competent to attach the property if it is situated within the local limits of the jurisdiction of the court. [1] It is immaterial that the place of business of the judgement – debtor is outside the jurisdiction of the court. The words attachment and sale in clause (b) of section 51 are to be read disjunctively. Therefore, the attachment of the property is not a condition precedent. Hence, the sale of the property without an attachment is not void or without jurisdiction and does not vitiate the sale. It is merely an irregularity. An order of attachment takes effect from the moment it is brought to the notice of the court. Rule 54 provides for the attachment of immovable property and the procedure for the proclamation of such attachment. The object of Rule 54 is to inform the judgement – debtor about the attachment so that he may not transfer or create encumbrance over the property thereafter. [2] The code enumerates properties to be attached and sold in execution of a decree. 3] Likewise, it also specific properties which are not liable to be attached or sold. [4] It also prescribes the procedure where the same property is attached in execution of decrees by more than one court. [5] The code also declares that a private alienation of property after attachment is void. In Ghanshyam Das v. Anant Kumar,[6] while dealing with the provisions of the Code of Ci vil Procedure relating to the execution of decrees and orders, the Supreme Court had stated that the Civil Procedure Code contains elaborate and exhaustive provisions for dealing with the question of execution of decrees. More specifically, Section 51[8] of the Code of Civil Procedure enumerates in general terms the various modes of execution of a decree, one amongst which is the attachment of the property of the judgment-debtor. Procedure enumerates in general terms the various modes of execution of a decree, one amongst which is the attachment of the property of the judgment-debtor. 2. Object of Attachment: Execution of a decree takes place by attachment of property of judgment-debtor. In fact, the attachment of the judgment-debtor’s property s the preliminary step to the sale of property in execution proceedings and the underlying object of attachment of the property is to give notice to the judgment-debtor not to alienate his property to anyone and also to the general public not to purchase or to deal with the property of the judgment-debtor attached in execution proceedings. 3. Effect of Attachment: Section 64 of the Code of Civil Procedure makes it manifest that attachment has merely the effect of preventing private alienation to the prejudice of claims under attachment. It conveys no title, charge, lien or priority in favour of the attaching creditor. In fact, in Subbarao v. Official Receiver[7] the Andhra Pradesh High Court while dealing with the involuntary sale of the judgment-debtor’s flat under a decree of a court, stated that an order of attachment does not prevent a transfer by operation of law and nor does it create any interest or lien. 4. Property which can be Attached: Section 60 of the Code of Civil Procedure enumerates the properties, which are liable to attachment in execution of a decree. It states that all saleable property (movable or immovable) belonging to the judgment-debtor or over which or the portion of which he has a disposing power which he may exercise for his own benefit may be attached and sold in execution of a decree against him. More specifically, in State of Punjab v. Dina Nath,[8] wherein the right to officiate at funeral ceremonies was held to be not saleable, it was stated by the Supreme Court that Section 60 of the Code of Civil Procedure is not exhaustive and specific non-inclusion of a particular species of property under Section 60 is therefore, not of any consequence if it is ‘saleable’[9] otherwise. However, regard must be had to the proviso to sub-section (1) of Section 60, which enumerates certain properties such as necessary wearing apparel, cooking vessels, beddings, tools of artisans, implements of husbandry, houses of agriculturalists, wages, salaries, pensions and gratuities, compulsory deposits, right to future maintenance etc. and declares that the properties specified therein are exempt from attachment and sale in the execution of a decree. . Attachment of Movable Property: The attachable property belonging to the judgment-debtor may be either movable or immovable in nature. Rules 43 to 53 of Order 21 of the Code of Civil Procedure lay down the different ways in which the movable property belonging to the judgment debtor is to be attached keeping in regard the nature of the specific movable property sought to be attached. 1. Attachment Of Movable Property (Other Than Agricultural Produce) In Possession Of The Judgment-Debtor: Rule 43 of Order 21 of the Code of Civil Procedure deals with the mode of attachment of all movable property, other than agricultural produce and property not in the possession of the judgment-debtor, for both of which provision is made in Rules 44 to 46 of Order 21 of the Code of Civil Procedure. Under Order 21, Rule 43, the attachment is legally effected only by actual seizure. Significantly, keeping in view the varied nature of the movable properties that may be attached under this rule the Proviso to Order 21, Rule 43 of the Code of Civil Procedure provides that when the property seized is subject to speedy and natural decay, or when the expense of keeping it in custody is likely to exceed its value, the attaching officer may sell it at once. 2. Attachment of Debt, Share & other property not in Possession of Judgement – Debtor: Rule 46 of Order 21 of the Code of Civil Procedure deals with the mode of attachment of debt, share and other movable property not in the possession of the judgment-debtor. Under Order 21, Rule 46 of the Civil Procedure Code the attachment of debts (other than negotiable instruments), shares in a corporation or other movable property not in the possession of the judgment-debtor is legally effected by a prohibitory order, as contradistinguished from the requirement of actual seizure under Order 21, Rule 43. . Attachment of Negotiable Instrument: Rule 51 of Order 21 of the Code of Civil Procedure deals with the mode of attachment of negotiable instruments, which are neither deposited in the court nor in the custody of a public officer. Under Order 21, Rule 51 of the Civil Procedure Code the attachment of negotiable instruments, which are neither deposited in the court nor in the custody of a publ ic officer, is legally effected by actual seizure. As regards negotiable instruments it does not matter whether the negotiable instrument is in possession of the judgment-debtor or not. Furthermore, the actual seizure of the negotiable instrument is necessary as there is always a danger that third parties may bona fide become possessed of the negotiable instrument, and if a prohibitory order is held to be a valid attachment, they would be prejudiced by such an order of which they may know nothing. 4. Attachment of Salary or Allowance: Rules 48 and 48-A of Order 21 of the Code of Civil Procedure deal with the mode of attachment of salary of the judgment-debtor. Under Order 21, Rules 48 and 48-A of the Civil Procedure Code the attachment of judgment-debtor’s salary or allowance is legally effected by issuing a prohibitory notice to the dispersing officer but if such prohibitory notice is not served to the dispersing officer, the order of attachment will have no effect. Furthermore, the territorial jurisdiction is not considered in this case, and wherever the judgment-debtor is working his salary can be attached. 5. Attachment of Immovable Property: The attachable property belonging to the judgment-debtor may also be immovable in nature. Rule 54 of Order 21 of the Code of Civil Procedure lays down the directions as to the mode of attachment of immovable property, which are mandatory in nature and not merely directory. Under Rule 54 of Order 21 of the Code of Civil Procedure the attachment of immovable property is legally effected by the issuance of an order by the Court prohibiting the judgment-debtor from transferring or charging the property in any way, and all persons from taking any benefit from such transfer or charge. Such an order is to be proclaimed at some place on or adjacent to such property by beat of drum or other customary mode, and a copy of the order shall be affixed on a conspicuous part of the property and then upon a conspicuous part of the Court-house. Also, where the property to be attached is a land paying revenue to the Government, a copy of the order is to be affixed in the office of the Collector of the District in which the land is situate and, where the property is land situate in a village, also in the office of the Gram Panchayat, if any, having jurisdiction over that village. Chapter – III Sale of Property 3. 1. General: A decree may be executed by attachment and sale or by sale without attachment of any property. Sections 65 to 74 and Rules 64 to 106 of Order 21 of the Code of Civil Procedure deal with the material provisions relating to sale and delivery of properties. 3. 2. Power of Court: Rule 64 of Order 21 of the Code of Civil Procedure states that any Court executing a decree may order that any property attached by it and liable to sale, or such portion thereof as may seem necessary to satisfy the decree, shall be sold, and that the proceeds of such sale, or a sufficient portion thereof, shall be paid to the party entitled under the decree to receive the same. However, it must be noted that in Desh Bandhu v. Anand,[10] wherein the Court, while confronted with the twin issues of sale of properties situated outside the territorial jurisdiction of the Executing Court and the failure of the judgment-debtor to take objection in time, it was opined that: â€Å"The term â€Å"may† in this rule does not confer a discretion on the Court to order or refuse to order a sale; it is obligatory on it to do so when a valid application for such order and a valid attachment has been made. † 3. 3. Sale by Whom Conducted and How Made: Rule No. 65 of Order 21 of the Code of Civil Procedure enacts that every sale in execution of a decree shall be conducted by an officer of the Court or by such person as the Court may appoint in this behalf, in a public auction. 3. 4. Proclamation of Sale: A proclamation of sale is necessary for providing information to the intending purchasers. Thus, Rule 66 of Order 21 of the Code of Civil Procedure enacts that the Court shall cause a proclamation of the intended sale to be made in the language of the Court. Such a proclamation is to be drawn up after the notice to the decree-holder and the judgment-debtor. An absence of a notice causes irremediable injury to the judgment-debtor and sale without such a notice will be a nullity. 3. 4. 1. Purpose of a Proclamation: It has been stated that a proclamation of sale is meant for the information of intending purchasers and not of the judgment-debtor. However, in Narayanappa v. Akkulappa,[11] it was stated that the purpose of issuing a proclamation is two-fold: (a)  Ã‚  Ã‚   it protects the interests of the intending purchasers by giving them all material information regarding the property to be sold; and (b)  Ã‚   it protects the interests of the judgment-debtor by facilitating the fetching of proper market price for his property and by preventing it being knocked down at public auction for a price much below the market price. 3. 4. 2. Contents of the Proclamation: Rule 66 (2) of Order 21 of the Code of Civil Procedure enacts that the proclamation, which is to be drawn up shall state the time and place of sale, and specify as accurately as possible, the following particulars – (a)  Ã‚  Ã‚   the property to be sold, or, where a part of the property would be sufficient to satisfy the decree, such part; (b)  Ã‚   the revenue assessed upon the estate or part of the estate, where the property to be sold is an interest in an estate or in part of an estate paying revenue to the Government; (c)  Ã‚  Ã‚   any encumbrance to which the property is liable; (d)  Ã‚   the amount for the recovery of which the sale is ordered; and (e)  Ã‚  Ã‚   every other thing which the Court considers material for a purchaser to know in order to judge of the nature and value of the property. 3. 4. 3. Mode of making Proclamation: In order to protect the judgment-debtors and for the purpose of ensuring that the properties of such persons shall not be put to s ale unless due publicity is given to the fact that a sale is to be held and a proper opportunity is afforded to bidders to attend the sale after notice is given’ Rule 67 of Order 21 has been incorporated in the Code of Civil Procedure. Rule 67 of Order 21 of the Code of Civil Procedure provides that every proclamation shall be made and published in the manner prescribed by Order 21, Rule 54 (2) for attachment for immovable property, i. e. , a copy of it shall be affixed on a conspicuous part of the property, and then of the Court house, and in the Collector’s office, in the case of revenue paying land. Also, if the Court so directs, it shall also be published in local Official Gazette, or in a local newspaper, or in both. 3. 5. Time for Sale: Rule 68 of Order 21 of the Code of Civil Procedure provides that there shall be an interval of fifteen days in the case of immovable property and seven days in the case of movable property between the date of sale and the date of affixing the copy of the proclamation in the Court-house. However, it should be noted that the seven days rule does not apply to a sale of movables subject to speedy and natural decay. 3. 6. Sale of Movable Property: Rules 74 to 81 of Order 21 of the Code of Civil Procedure provide for specific provisions for the sale of movable properties. 3. 6. 1. Place of Sale of Movable Properties: Sale of all movable properties in execution of a decree should ordinarily be held at some place within the jurisdiction of the court ordering such sale. In the case of Lakshmibai v. Santappa,[12] where certain ornaments were attached in Banaras and the judgment-debtor urged that they should be directed to be sold at Bombay on the ground that they would probably fetch a better price and it was found by the Court that a fair price could be had on the spot, it was held that there was no good and sufficient reason to depart from the usual practice. 3. 6. 2. When Sale Becomes Absolute in Movable Properties: Sub Rule 2 of Rule 77 of Order 21 of the Code of Civil Procedure enacts that the sale of a movable property becomes absolute as soon as the purchase money is paid to the officer or other person holding the sale and no order of Court is necessary as in the case of the sale of immovable property. 3. 6. 3. Sale of Agricultural Produce: Rule 74 of Order 21 of the Code of Civil Procedure makes special provision for the sale of agricultural produce. It provides that in case of agricultural produce, the sale shall be held on or near the land on which the crop is standing or where the crop has been harvested, at or near the place where the crop is lying. It is also pertinent to note that Sub Rule 2 of Rule 74 of Order 21 states that such a sale can be postponed, if the court feels: (i)  Ã‚  Ã‚  Ã‚   that the fair price is not offered; and (ii)  Ã‚   the owner thereof applies for such postponement. 3. 6. 4. Sale of Negotiable Instruments and Shares in Corporations: Rule 76 of Order 21 of the Code of Civil Procedure makes special provision for the sale of negotiable instruments and shares in corporations. It provides that in case of negotiable instrument or a share in corporation, the court has power to order sale through a broker instead of by public auction. It is pertinent to note here that this rule is only permissive. A court is not bound to authorize the sale of negotiable instrument or share in a corporation through a broker. 3. 6. 5. Effect of Irregularity on Sale of Movable Property: Rule 78 of Order 21 of the Code of Civil Procedure stipulates that even in case of irregularity in publishing or conducting of sale, the sale of moveable property in execution decree cannot be said aside. Thus, the sale does not ipso facto become void for reason of violation of provisions relating to the sale. However, a person sustaining any injury by reasons of irregularity in the sale at the hand of any other person may sue such a person for compensation, or, if such a person is the purchaser, for recovery of the specific property and for compensation in default of such recovery. 3. 7. Sale of Immovable Property: Rules 82 to 96 of Order 21 of the Code of Civil Procedure provide for specific provisions relating to the sale of immovable properties. 3. 7. 1. Courts Competent to Order Sale: Rule 82 of Order 21 of the Code of Civil Procedure stipulates that except the small cause court, any other court can give the order of sale of immovable property. 3. 7. 2. Postponement of Sale: In order to prevent the sale of the immovable property of the judgment-debtor in cases where the decree can be satisfied by private alienation of such property, Rule 83 of Order 21 has been incorporated into the Code of Civil Procedure. It provides that on an application by the judgment-debtor, the court in its discretion may give the judgment debtor some more time, to try and alienate the property in order to raise the requisite some of money. 3. 7. 3. Deposit and Payment of Price: Rule 84 to 87 of Order 21 of the Code of Civil Procedure deal with the deposit and payment of price in cases of sale of immovable property. Immediately after the sale of immovable property, the purchaser must deposit 25 percent of purchase money, unless such requirement is dispense with by the court. The purchaser must pay the balance of the purchase-money within fifteen days of sale. In case of a failure on the part of the purchaser to deposit the amount, the advance may be forfeited and fresh sale ordered, after the issuance of a fresh notification. Explaining the ambit and the scope of the provisions of Rules 84 to 86 of Order 21 of the Code of Civil Procedure, the Supreme Court in the case of Manilal Mohanlal v. Sayed Ahmed,[13] has stated that: â€Å"Having examined the language of the relevant rules and the judicial decisions bearing upon the subject we are of the opinion that the provisions of the rules requiring the deposit of 25 per cent of the purchase-money immediately, on the person being declared as a purchaser and the payment of the balance within 15 days of the sale are mandatory and upon non-compliance with these provisions there is no sale at all. The rules do not contemplate that there can be any sale in favour of a purchaser without depositing 25 per cent of the purchase-money in the first instance and the balance within 15 days. When there is no sale within the contemplation of these rules, there can be no question of material irregularity in the conduct of the sale. Non-payment of the price on the part of the defaulting purchaser renders the sale proceedings as a complete nullity. † 3. 7. 4. Setting aside of Sale: Rule 89 to 92 of Order 21 of the Code of Civil Procedure deal with the setting aside of sale. They provide that when a property is old in execution of a decree, an application for setting aside sale may be made under these provisions by the persons and on the grounds mentioned therein. 3. 7. 5. Confirmation of Sale: In contrast with the provisions relating to the sale of movable properties, â€Å"no sale of immovable property shall be come absolute until it is confirmed by the Court. † Also, Rule 92 of Order 21 of the Code of Civil Procedure, which deals with the procedure for confirmation of sale, provides that where no application to set aside the sale is made under Rules 89, 90 or 91 or where such application is made and is disallowed by the Court, the court shall make an order confirming the sale, and thereupon the sale shall become absolute. Chapter – IV Conclusion It has been said that the difficulties of a litigant â€Å"begin when he has obtained a decree. The execution process, which commences with the filing of an application for execution, aims at the enforcement of a decree by a judicial process. Aware of the fact that a number of obstacles are placed in the way of a decree-holder, who seeks to execute his decree against the property of the judgment-debtor, the Code of Civil Procedure provides for elaborate rules and procedures for the execution of decrees. In an attempt to enable the decree-holder to realize the fruits of the decree passed by the competent court in his favour, the Code of Civil Procedure allows for the attachment and sale of the properties of judgment-debtor as one amongst the various modes of executing a decree. However, the nature of the properties of judgment-debtor liable for attachment is usually varied. The properties belonging to the judgment-debtor, which are sought to be attached and sold, may be movable or immovable. Since, movable and immovable properties by nature have differing rights; there are different legal regimes governing these two types of properties, and therefore the court has to cater to these different rights and proceedings. Thus, in an attempt to ensure that attachment and sale of the property of the judgment-debtor remains a viable and effective mode of execution of decrees the Code of Civil Procedure has prescribed different procedures for the attachment and ale of movable and immovable properties in execution of money decrees. This is best illustrated in the prescription of actual seizure of the property in cases of attachment of movable property, as in these cases a very real threat exist that the property might escape the jurisdiction of court. Chapter – V Bibliography 1. Basu’s , ‘The Code of Civil Procedure’, Ashok Law House, New Delhi, 10th Edn. , Vol. 2, 2007. 2. Majumdar’s, ‘Commentary on the Code of Civil Procedure, 1908’, Orient Publishing Company, 6th Edn. , Vol. 1, 2010. 3. Justice Nandi & Gupta Sen, ‘The Code of Civil Procedure’, Kamal Law House, Kolkata, Vol. 1, 2009. 4. Rao’s V. J. ‘The Code of Civil Procedure, 1908’, ALT Publication’s, 5th Edn. , Vol. 1, 2008. 5. Jain, M. P. , â€Å"The Code of Civil Procedure†,2nd Edn. , Lexis Nexis ButterWorths Wadhwa,Nagpur. 2008. 6. Prasa, B. M. , & Sarvaria, S. k. , â€Å"Mulla The Code Of Civil Procedure†,14th Edn. , Lexis Nexis ButterWorths Wadhwa,Nagpur, 2011. ———————– [1] Raoof v. Lakshmipathi, AIR 1969 Mad 268. [2] Desh Bandhu v. N. L. Anand, (1994) 1 SCC 131. [3] S. 60(1). [4] Proviso to S. 60(1). [5] S. 63. [6] AIR 1991 SC 225 1. [7] AIR 1965 A. P. 52 [8] (1984) 1 SCC 137 [9] ‘Saleable’ means saleable by auction under the orders of a Court [10] (1994) 1 SCC 131 [11] AIR 1965 A. P. 215 [12] AIR 1964 Bom 342 [13] AIR 1954 SC 349

Compunds and Mixtures in baking essays

Compunds and Mixtures in baking essays The ingredients for my recipe were as following 2 sticks of butter, 2 2/3 cup of sugar, 6 eggs, and  ¼ tablespoon of baking soda, 1 cup of sour cream, 3 cup plain flour and 1 tablespoon of vanilla. To make pound cake you have to do everything exactly like the recipe says. First I went to the store and bought all the ingredients I needed for the pound cake. Once everything was in order I started the mixing process. First I had to cream butter and sugar together. Add one egg at a time, mixing well. Stir baking soda into sour cream. Add flour and vanilla. Bake at 300 degrees farenhieght for 1 hour then continue to bake at 325 for 15 minutes. The pound cake mixture is a very white color but after it is cooked it is a tan or brownish color (depends on how long you cook it). When in the mixtures stage the pound cake is not that tasty but after it is cooked it tastes very well. The taste goes form a flour taste to more of a vanilla and sugar taste. Also when in mixture stage the pound cake is a liquid but after cooked the top part becomes a solid. This recipe is all mixtured such as when you mix the baking soda into the sour cream the baking soda is still baking soda but has taken on a new form. Most of the elements combined by dissolving or being mixed to the point that they are so small you cant even tell they are there. Once cooked all the components of the pound cake mixed together tightly to form the shape of the tin holder that the pound cake is in. ...

Imperative Mood - Definition and Examples in English

Imperative Mood s in English In English grammar, the imperative mood is the form of the verb that makes direct commands and requests, such as Sit still and Count your blessings. The imperative mood uses the zero infinitive form, which (with the exception of be) is the same as the second person in the present tense. There are three major moods in English: the indicative mood is used to make factual statements or pose questions, the imperative mood to express a request or command, and the (rarely used) subjunctive mood to show a wish, doubt, or anything else contrary to fact. Etymology From the Latin, command Examples Save Ferris. (Slogan in the movie Ferris Buellers Day Off, 1986)Be kind, for everyone you meet is fighting a hard battle. (Philo of Alexandria)Read, every day, something no one else is reading. Think, every day, something no one else is thinking. Do, every day, something no one else would be silly enough to do. It is bad for the mind to be always part of unanimity. (Christopher Morleys final message to friends, colleagues, and readers, published in The New York Times after his death on March 28, 1957)Go to the edge of the cliff and jump off. Build your own wings on the way down. (Ray Bradbury, Brown Daily Herald, March 24, 1995)If this is coffee, please bring me some tea; but if this is tea, please bring me some coffee. (attributed to President Abraham Lincoln)Roar, roar, roar, Henderson-Sungo. Do not be afraid. Let go of yourself. Snarl greatly. Feel the lion.(Saul Bellow, Henderson the Rain King. Viking, 1959)Touch the great artery. Feel it bound like a deer in the might of its lig htness, and know the thunderless boil of the blood. Lean for a bit against this bone. It is the only memento you will leave to this earth. Its tacitness is everlasting. In the hush of the tissue wait with me for the shaft of pronouncement. Press your ear against this body, the way you did when you were a child holding a seashell and heard faintly the half-remembered, longed-for sea. (Richard Selzer, The Surgeon as Priest. Mortal Lessons: Notes on the Art of Surgery. Simon Schuster, 1976) Let the river rock you like a cradleClimb to the treetops, child, if youre ableLet your hands tie a knot across the table.Come and touch the things you cannot feel.And close your fingertips and fly where I cant hold youLet the sun-rain fall and let the dewy clouds enfold youAnd maybe you can sing to me the words I just told you,If all the things you feel aint what they seem.And dont mind me cause I aint nothin but a dream.(lyrics by Jerry Merrick, sung by Richie Havens, Follow)Shut up, Brain, or Ill stab you with a Q-tip! (Homer Simpson of The Simpsons)Never give in  . Never give in. Never, never, never, neverin nothing, great or small, large or pettynever give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy. (Winston Churchill)Get up, stand up, Stand up for your rights.Get up, stand up, Dont give up the fight. (Bob Marley, Get Up, Stand Up!)Just do it. (Nike advertising slogan) Come in, then. Dont stand staring. Close that door quick! Hustle! Dont scrape your feet on the floor. Try to look intelligent. Dont gape. (P.G. Wodehouse, Something Fresh, 1915) Pronunciation: im-PAR-uh-tiv mood

The most effective ways to say no at work without sounding rude

The most effective ways to say no at work without sounding rude Being the hard-working determined employee in the company it is so easy to take on way more work than you can handle. The word NO is just not  in your vocabulary because of the negativity it holds. But it is time you say no without feeling guilty especially if you are feeling overworked. Work burn, job dissatisfaction, and overall bad mood can be an effect of taking on way more you can handle so before it gets to that point it is time to take action. Here are the most effective ways to say no at work without feeling guilty or sounding rude.  Source [ Business Backer  ]

Pottie Training Essay Example | Topics and Well Written Essays - 1250 words

Pottie Training - Essay Example By using diapers, we condition and thereby train baby to go in them. Later the child must unlearn this training" (Brazelton et al, 2001, p.1353). This negligence of previous knowledge can be traumatic for a child. The scholar also holds that infants from their early childhood make attempts to communicate and articulate toileting needs to their parents as well as to discuss their awareness of elimination process, but facing the parent's low understanding, looses contact with elimination functions and uses diapers, imposed by adults, as a toilet (Brazelton et al, 2001). The child is thus forced to avoid caring about this function and finally forgets the need for more appropriate toilet. Furthermore, self-training in this case is highly unreliable, so it important for a parent to provide assistance in disposal system 'adjustment'. Graham Hocking (2005) assumes that potty training is most relevant between the 18th and 24th months of the infant's life, as at this time he/she is already able to give signals when diaper becomes wet or soiled, i.e. the child obtains complete awareness of disposal system and elimination issues and needs to optimize these processes so that he/she has more freedom in movements and activities. Developmental readiness for potty training is also determined by other psycholophysiological factors, such as distinguishing the processes of urinating and voiding and reflecting upon them - for instance, asking questions if the infant can talk by that time. The child should also walk and sit well as well as be capable of primary activity coordination (walk in the desirable directions, make simplest voluntarily manipulations, e.g. put on or take off pants). The child's interest is probably the main determinant of successful potty training - and the majority of 1,5-2-year-old babies really wish t o try on 'big kid's underwear'. I would also like to note that some scholars offer potty training at the age of 6 months, when learning window opens (Brazelton et al, 2001; Blum et al, 2003), since this period is characterized by the rapid development of reflexes and reactions to the parent's voice and gestures. On the other hand, Ganger argues that at this period the baby is extremely weak in physical sense, so additional training will require changes in the basis of the baby's life. In order to begin toilet teaching, the adults should discuss disposal issues with the child. M.Macias (2006) present specific guidelines for this conversation: "Tell him that everyone goes potty (even animals) and it's a normal part of life. Talk with him about the toilet, a special place where he can potty. Tell him how the potty works and let him try flushing himself. Explain that he's going to be wearing underwear instead of diapers, just like you" (Macias, 2006, p.417). In case of availability, it is also helpful to give visual examples for toileting and involve other siblings who can explain the same question in different words. Furthermore, the purchase of underwear and a potty chair is necessary, and the child should be given an opportunity to participate in selecting the 'equipment', as the decision-making process in future will provide more cognitive commitment to elimination

IT technology becoming the basis of every employment Essay

IT technology becoming the basis of every employment - Essay Example Lifelong learning is seen as a solution to long-standing social and economic problems, despite criticism of adult education colonisation unleashing libratory forces, scholars pointing out bifurcation of labour market, and the ever-existing criticism of political shift towards neoliberalvalue. The article deals with the tussle between the viewpoints of UNESCO and OECD. Lifelong learning, initially thought to be an answer to societal and economic crises, was launched by OECD in 1948 to help Western Europe's economic revival under Marshall Plan and it was referred to as Vocational Training. unprecedented enrolment in 1960s due to economic growth caused stir and resulted in oversupply of graduates who could not be fully absorbed and said that recurrent education should be distributed along lifespan, with work, leisure and retirement. Later it adopted the concept as a long-term strategy and created two axes, vertical, to integrate educational opportunities against disrupted childhood lear ning and a horizontal, for further education according to requirements of labour, research and opportunities. Behind the belief of additional opportunities, economic stability, knowledge, satisfaction, there exist pragmatic issues like non-achievement of equality and opportunity. Due to 1968 student revolt, UNESCO realised that education export from First World to Third failed to meet latter's need. Faure commission was set up to meet the educational challenge and for growth of scientific mind by promoting lifelong modern learning. Although starting point approach was overlapping, there are fundamental differences in later approach. While OECD is unable to connect education with labour potential, UNESCO stops short at educational modernisation. If oecd's aim is to bring non-traditional students into the educated cluster, unesco's goal is to make education basis of democratic process. While first is focussed on industrialised nations, second has global outlook. While first approaches from technical updating point of view, second sees it as a tool of equality and wants a learning world society. It wants to provide the educational facility at any point with a worldwide dimension. There is a suggestion of classless society in the concept and seventies onwards, li felong learning has figured in the national policy of many nations. With globalisation, capitalism has erupted and oecd stressed on education as need of changing society and its reports links education with economy. Second generation of human capital theory questioned the relevance of initial approaches and firmly placed the lifelong educators in labour market/unemployment. Both EC and oecd concentrated more on learning, than on education and human resources became more important now. CRITICISM Article also says that by then unesco had lost its importance on educational issues. The new Commission reported the tension between global, national, regional and local vested interests, tension between individual and universal, tradition v. modernity, long-term v. short-term, spiritual v. material etc. Even from outside, they are regarded differently. Unesco has humanistic tradition and intellectual role while oecd is regarded as capitalistic. While presenting the two paradigms connected to two world views, the article has

Visual Arts of Japan-Shinto Art Term Paper Example | Topics and Well Written Essays - 1250 words

Visual Arts of Japan-Shinto Art - Term Paper Example The shrines that the Shinto use for worship sites and many other areas of worship are marked by gates, also called torii in Japanese, and they are used to indicate the entrance to the area where the Shinto believe their Kamis reside. The sacred areas are also indicated by the use of ropes from rice straws that are wrapped, for example, on a sacred tree trunk. The Japanese imperial family is a vital player in the Shinto religion and rituals and the Shinto believe that the sun goddess, the Amaterasu was the imperial line’s first ancestor. For this reason, she is one of the most significant artistic representation in Shinto art, represented even on the Japanese flag. Shinto religion has no founder; neither does it possess any sacred scriptures like western religions, for example, the Bible or the Sutra, with preaching and propaganda not as common because of the deep roots that the Shinto have in the traditions of the Japanese people. Because of this, the most enduring aspects of the religion are preserved by the art practiced by the Shinto. The sun goddess, Amaterasu is the most important Kami in Shinto Japan and, as such, is the most represented. The goddess’ mirror is found in the island of Honshu’s Ise shrine and is one of three regalia used by the imperial line along with the jewel and the sword. It is believed that Amaterasu endowed these objects to Ningi, her grandson, when the goddess sent him, to rule over the islands of Japan (Boscaro 17). Sussano, her brother is depicted as the god of the sea in Shinto art with a temperamental and difficult character. While visiting Amaterasu one day, he released colts all over her rice field and destroyed her crops. He went ahead to desecrate her home via smashing a hole into her sewing room’s roof and throwing in a colt’s skin. Amaterasu became furious and retreated into a cave, blocking its entrance with a rock, which caused the entire world to plunge into darkness. Desperate to restore sunlight to earth, the

Global issues Assignment Example | Topics and Well Written Essays - 250 words

Global issues - Assignment Example It had proved to be rather tenable, when used partially, as it was in the post-war Britain, where sacred nature of private property and private enterprises were combined with nationalized industries; in other words, in the mixed economy. Keynes’ purpose, to the contrary, was to subject economy to the governmental central planning. His position implied that the government should take control over the key industrial and economy sectors, regulating them – particularly, via price control. However, this purpose wasn’t achieved to the full extent, as the ideas began to collapse with growth of inflation, unemployment, poverty and extreme forms of governmental control – totalitarian, like in Nazis’ Germany – posing a threat to democracy. His theory had proved to be efficient for wartime but ineffective in the time of peace. However, Keynes remained among the most influential economists of the 20th century. The term â€Å"Commanding Heights† was first mentioned in the speech pronounced by Lenin regarding the key sectors of economy that should be run by the government. To my thinking, governments should own commanding heights only partially to avoid excessive control over economy. There is a huge plus in the global economy, which is absence of boundaries in mutual help, and this is illustrated by operation of numerous international economic organizations like International Monetary Fund. However, there should still be at least partial control over the national economies to prevent negative side effects of globalization; therefore, mixed economy seems the most tenable

Business to Business Marketing Essay Example | Topics and Well Written Essays - 3250 words - 1

Business to Business Marketing - Essay Example SPSL can take the following steps for organizing its sales force system: †¢ Call and Lead management. SPSL needs to plan for each and every customer interaction and make a record of every successful lead. A sales force system will help the company in complying with the company’s process and will certainly result in successful interactions. †¢ Opportunity management. If the process of sales force system is implemented correctly, than this will result in a profitable opportunity for the company and will result in an opportunity for sales. †¢ Account management. SPSL has to effectively organize all the successful leads and integrate with customer accounts by implementing the sales force system. It could then be measured by relevant tools, process, and objectives of the sales force system. †¢ Territory management— for monitoring the account, the territory is measured by the number of account reps and prospective versus active customers. †¢ Effective time management. SPSL needs to accurately measure the tasks which are related with implementing the sales force system and evaluate the time needed for performing each task. †¢ Sales force management. This crucial process includes training and developing the company’s sales staff regarding the sales force management system. Apart from that the management of SPSL should implement relevant IT systems and control process and spread it across relevant people and departments of the company.

Law Coursework Example | Topics and Well Written Essays - 1000 words

Law - Coursework Example As such, the statement is admissible in the court. However, the statement incriminates against a person who has not been presented in court. as such the government is obliged to present McGregor in the court. In addition, the judge may require to do one or all of the following to determine the validity of the case: (1) a witness generally must swear and affirm that the evidence is credible and truthful. (2) The witness must present themselves personally at the trial in order to allow the jury to observe or the testimony firsthand. (3) The witness must cross-examination so as to test on the facts presented In a court proceeding, identification of the defendant is fundamental in proving beyond reasonable doubt that the defendant committed the crime. In this case, the evidence that Jackson presents will make the judge believe that Jackson really knew the person who knocked him down. As such, the evidence will be important in prior identification of the defendant. The statement is a present sense impression that cannot be dismissed as it explain the incident prior to that particular event,. The presiding jury should admit the evidence to show that van#2 was not properly maintained. In this case, the statement by Arturo cannot be taken as evidence that the driver and the mechanic had prior knowledge or were responsible for the maintenance of the van. In this case, the statement by Arturo declares that Van #2 had mechanical problems and hence could have probably caused the accident According to the email, the defendant admits that the contract existed and as such, they are willing to settle half the amount of the contract. In this case, the judge should rule that the contact was real. Similarly, the judge cannot rule against the evidence in accordance with Rule 408 since the email provides no evidence of ongoing negotiations. All what is in the email is a blackmail from one party coercing the plaintiff to accept half

Business to Business Marketing Essay Example | Topics and Well Written Essays - 3250 words - 1

Business to Business Marketing - Essay Example SPSL can take the following steps for organizing its sales force system: †¢ Call and Lead management. SPSL needs to plan for each and every customer interaction and make a record of every successful lead. A sales force system will help the company in complying with the company’s process and will certainly result in successful interactions. †¢ Opportunity management. If the process of sales force system is implemented correctly, than this will result in a profitable opportunity for the company and will result in an opportunity for sales. †¢ Account management. SPSL has to effectively organize all the successful leads and integrate with customer accounts by implementing the sales force system. It could then be measured by relevant tools, process, and objectives of the sales force system. †¢ Territory management— for monitoring the account, the territory is measured by the number of account reps and prospective versus active customers. †¢ Effective time management. SPSL needs to accurately measure the tasks which are related with implementing the sales force system and evaluate the time needed for performing each task. †¢ Sales force management. This crucial process includes training and developing the company’s sales staff regarding the sales force management system. Apart from that the management of SPSL should implement relevant IT systems and control process and spread it across relevant people and departments of the company.

Compare and contrast the planning functions of the Japanese and Research Paper

Compare and contrast the planning functions of the Japanese and Chinese economic models - Research Paper Example The economic models perform two basic functions, which include selection of information on the basis of econometric study and simplification of the gathered information. Economic models can be classified as stochastic models, non-stochastic models, qualitative models, quantitative models, equilibrium, and non-equilibrium models. If we talk about some of the benefits of having the economic models, we can say that economic models are widely used for a variety of purposes in the economic environment of every country. Some of main uses of economic models include guiding resource allocation decisions, forecasting the economic activities, planning the functions of economy, and making appropriate decisions related to the economy. All of these uses make economic model one of the most important models for the development of any country. Let us now discuss planning functions of the economic models of China and Japan, which are two of the most progressive and well-established economies of the w orld. Comparison between Planning Functions of Chinese and Japanese Economic Models Chinese economy has seen significant success and development over the last decade. The communist government of the People Republic of China has been successful in developing a strong Chinese economy, which has started developing its roots in most of the Asian, European, and American markets. â€Å"Although the politics of China remains communist, the economics might be called Advanced Mercantilist† (SNS 2010). Chinese economists have analyzed the perfects ways to deal with the west by considering the cases of South Korea and Japan and have come up with a well-designed economic modal, which has the ability to make the Chinese economy one of the most stable economies of the future world. If we talk about the Japanese model of economy, we can say that Japanese economic model has proved to be a very useful tool not only for the analysis of the current economic situation of Japan but also for the p rojection of its future economic situation. Japanese economy has faced various shocks after the World War II but the responses of the Japanese economic model to the shocks provide us with a very good approximation of the current economy of Japan. The planning functions of the Japanese economic model also depend on the types of consumers. Unlike Chinese economic model, the Japanese economic model considers consumers to be of two types, which include permanent-income-hypothesis consumers and rule-of thumb consumers. The response to shocks becomes very realistic and effective due to identification of types of the consumers. If we analyze the most recent economic recession and the affect of that economic recession on the economies of China and Japan, we come to know that china was one of those countries, which survived the economic recession up to a large extent. It is due to the implementation of an appropriate economic model that Chinese economy did not shake as the result of recent e conomic recession. Various analyses and reports show that the countries like Germany, Japan, America, and the United Arab Emirates were affected heavily due to the recent economic recession but the economy of china was so stable that the recession could not affect it up to a large extent. Japanese economy, which is currently the world’s second largest economy, also slipped into the economic rece