Biography of Elizabeth of York, Queen of England

Biography of Elizabeth of York, Queen of England Elizabeth of York (February 11, 1466–February 11, 1503) was a key figure in Tudor history and in the Wars of the Roses. She was the daughter of Edward IV and Elizabeth Woodville; Queen of England and Queen Consort of Henry VII; and the mother of Henry VIII, Mary  Tudor, and Margaret Tudor, the only woman in history to have been daughter, sister, niece, wife, and mother to English kings. Fast Facts: Elizabeth of York Known For: Queen of England, mother of Henry VIIIBorn: February 11, 1466 in London, EnglandParents: Edward IV and Elizabeth WoodvilleDied:  February 11, 1503 in London, EnglandEducation: Trained in the palace as a future QueenSpouse: Henry VII  (m. January 18, 1486)Children: Arthur, Prince of Wales (September 20, 1486–April 2, 1502); Margaret Tudor (November 28, 1489–October 18, 1541) who married King James IV of Scotland); Henry VIII, King of England (June 18, 1491–January 28, 1547); Elizabeth (July 2, 1492–September 14, 1495); Mary Tudor (March 18, 1496–June 25, 1533) married King Louis XII of France; Edmund, Duke of Somerset (February 21, 1499–June 19, 1500); and Katherine (February 2, 1503) Early Life Elizabeth of York, known alternatively as Elizabeth Plantagenet, was born on February 11, 1466, at Westminster Palace in London, England. She was the eldest of the nine children of Edward IV, king of England (ruled 1461–1483) and his wife Elizabeth Woodville (sometimes spelled Wydeville). Her parents marriage had created trouble, and her father was briefly deposed in 1470. By 1471, likely challengers to her fathers throne had been defeated and killed. Elizabeths early years were spent in comparative calm, despite the disagreements and battles going on around her. She likely began her formal education in the palace by age 5 or 6, and learned history and alchemy from her father and his library. She and her sisters were taught by ladies-in-waiting, and by observing Elizabeth Woodville in action, the skills and accomplishments considered appropriate for future queens. That included reading and writing in English, mathematics, and household management, as well as needlework, horsemanship, music, and dancing. She spoke some French, but not fluently. In 1469, at the age of 3, Elizabeth was betrothed to George Neville, but it was called off when his father supported Edward VIIs rival, the Earl of Warwick. In August 29, 1475, Elizabeth was 11 and, as part of the Treaty of Picquigny, she became betrothed to Louis XIs son, the Dauphin Charles, who at the time was 5 years old. Louis reneged on the treaty in 1482.   Death of Edward IV In 1483, with the sudden death of her father Edward IV, Elizabeth of York was at the center of the storm, as the eldest child of King Edward IV. Her younger brother was declared Edward V, but because he was 13, his fathers brother Richard Plantagenet was named regent protector. Before Edward V could be crowned, Richard imprisoned him and his younger brother Richard in the Tower of London. Richard Plantagenet took the English crown as Richard III, and had the marriage of Elizabeth of Yorks parents declared invalid, claiming Edward IV had been betrothed before the marriage had occurred. Though Elizabeth of York was by that declaration made illegitimate, Richard III was rumored to have had plans to marry her. Elizabeths mother, Elizabeth Woodville, and Margaret Beaufort, mother of Henry Tudor, a Lancastrian claiming to be heir to the throne, planned another future for Elizabeth of York: marriage to Henry Tudor when he overthrew Richard III. The two princes, the only surviving male heirs of Edward IV, disappeared. Some have assumed that Elizabeth Woodville must have known, or at least guessed, that her sons, the Princes in the Tower, were already dead because she put her efforts into her daughters marriage to Henry Tudor. Henry Tudor Richard III was killed on the battlefield in 1485, and Henry Tudor (Henry VII) succeeded him, declared himself King of England by right of conquest. He delayed some months in marrying the Yorkist heiress, Elizabeth of York, until after his own coronation. They were married in January 1486, gave birth to their first child, Arthur, in September, and she was crowned Queen of England in November 25, 1487. Their marriage established the Tudor dynasty of the British crown. Her marriage to Henry VII brought together the House of Lancaster which Henry VII represented (though he grounded his claim to the crown of England in conquest, not birth), and the House of York, which Elizabeth represented. The symbolism of a Lancastrian king marrying a Yorkist queen brought together the red rose of Lancaster and the white rose of York, ending the Wars of the Roses. Henry adopted the Tudor Rose as his symbol, colored both red and white. Children Elizabeth of York apparently lived peacefully in her marriage. She and Henry had seven children, four surviving to adulthood- a fairly decent percentage for the time. Three of the four became kings or queens in their own right: Margaret Tudor (November 28, 1489–October 18, 1541) who married King James IV of Scotland); Henry VIII, King of England (June 18, 1491–January 28, 1547); Elizabeth (July 2, 1492–September 14, 1495); Mary Tudor (March 18, 1496–June 25, 1533) married King Louis XII of France; Edmund, Duke of Somerset (February 21, 1499–June 19, 1500); and Katherine (February 2, 1503). Their oldest son, Arthur, Prince of Wales (September 20, 1486–April 2, 1502) married Catherine of Aragon, a third cousin of both Henry VII and Elizabeth of York, in 1501. Catherine and Arthur became ill with sweating sickness soon after, and Arthur died in 1502. Death and Legacy Its been surmised that Elizabeth became pregnant again to try to have another male heir for the throne after Arthurs death, in case the surviving son, Henry died. Bearing heirs was, after all, one of the most crucial responsibilities of a queen consort, especially to the hopeful founder of a new dynasty, the Tudors. If so, it was a mistake. Elizabeth of York died in the Tower of London on February 11, 1503, at the age 37, of complications of the birth of her seventh child, a girl named Katherine, who died at birth on February 2. Only three of Elizabeths children survived at her death: Margaret, Henry, and Mary. Elizabeth of York is buried at the Henry VII Lady Chapel, Westminster Abbey. The relationship of Henry VII and Elizabeth of York is not well-documented, but there are several surviving documents which suggest a tender and loving relationship. Henry was said to have withdrawn in sorrow at her death; he never remarried, though it might have been advantageous diplomatically to do so; and he spent lavishly for her funeral, though he was usually quite tight with money. Fictional Representations Elizabeth of York is a character in Shakespeares Richard III. She has little to say there; she is merely a pawn to be married to either Richard III or Henry VII. Because she is the last Yorkist heir (assuming her brothers, the Princes in the Tower, have been killed), her childrens claim to the crown of England will be more secure. Elizabeth of York is also one of the major characters in the 2013 series  The White Queen  and is the key character in 2017 series The White Princess. Elizabeth of Yorks picture is the usual depiction of a queen in card decks. Sources License, Amy. Elizabeth of York: The Forgotten Tudor Queen. Gloucestershire, Amberley Publishing, 2013.Naylor Okerlund, Arlene. Elizabeth of York. New York: St. Martins Press, 2009.Weir, Alison. Elizabeth of York: A Tudor Queen and Her World. New York: Ballantine Books, 2013.

Exclusion Clauses in Business Contracts Essay Example | Topics and Well Written Essays - 1750 words

Exclusion Clauses in Business Contracts - Essay Example Certain warranties or guarantees may not actually be written into a contract, yet those contractual terms are implied by statute. For example, the Supply of Goods and Services Act of 1982 makes it clear that when a sale is made, there is an implied condition that the goods that have been supplied are of satisfactory quality. While most businesses are bound to the necessity of providing satisfactory quality of goods, they can protect themselves from very high levels of liability through exclusion clauses. An exclusion clause may be inserted into a contract in order to exclude one party’s liability for breach of contract or negligence . Taking into account the standard terms of a business contract, it must be noted that exclusion Clauses of the Company’s terms and conditions of sale needs to absolve it of any liability on the condition of the goods, such that it will be invalidated only if it is unreasonable. The validity of exclusion clauses has however, been upheld by the Courts in the case of dealing between businesses who are parties of equal bargaining power . Exclusion clauses have greater validity and will be enforced more strictly by the Courts in cases where ordinary consumers are involved . Filing a claim against a business, even if an exclusion clause is contained in a contract, could make it possible to invoke the provisions of the Unfair Contract Terms Act of 1977, which is only relevant in the case of ordinary customers and not for businesses.

Can People Govern Themselves Essay Example | Topics and Well Written Essays - 250 words

Can People Govern Themselves - Essay Example According to blog â€Å"a†, a business that only puts qualified people in leadership positions gives out good result while democracy lets any fool who is elected have power and the results are chaos. To an extent, I agree with the above statement because democracy is the rule by vote and a person can be popular based on other factors other than credibility and efficiency. It is not strange to find a company that was running well on profits suddenly collapse due to poor governance based on elected leader. While it is fair to include the views of the people in running an organization or a country, it is also wise to include serious scrutiny of their character and their effectiveness to the position they are being given. Democracy is not entirely bad as sometimes people’s judgment of character can be right through various interactions with the person or people vying for a leadership position; they can be able to tell whether the person will be effective. A person with soci al skills is highly favored as he or she is thought to understand and solve problems fairly. Choosing leaders based on qualifications is the other alternative. People with high qualifications and references are thought to have a proper managerial skill, organized and goal oriented. Their dedication to their studies is believed to be also reflected in the work they are entrusted with. However, people can be highly qualified but lack the necessary values needed to work in an organization such as honesty. In summary, democracy cannot work effectively on its own.

Autonomous midwifery practice safeguards childbearing womens health

Autonomous midwifery practice safeguards childbearing womens health In 1902 The Midwives Act was introduced and the main reason was to protect women from those birth attendants who were unqualified. The Midwives Institute (now the RCM), encouraged the Act as they wanted to raise the status of the profession and open it up to more middle class women. The Act established the Central Midwives Board, after much changing we know this now to be the NMC. The Central Midwives Board created rules and standards that Midwives had to follow and supervision was introduced. Although, Clarke (2004) agrees that women benefited by having a qualified midwife, she argues that the Act actually took away Midwives autonomy, and midwives had to accept having their practice defined and restricted by Doctors. The midwives institute it seems also happily agreed the division between midwives work and doctors work, again showing that midwives were subservient to the medicine (Clarke 2004). The NMCs main function is to protect the public by maintaining a register of practicing Midwives Autonomy can be defined as : à ¢Ã¢â€š ¬Ã‚ ¦.. the right of self government, the ability of the Midwife to practice on her own responsibility for women in normal pregnancy and childbirth. Winson McDonald (2005) p22. Thompson (2004)suggests that autonomy or self-determination is a key value to midwifery and one that should be expanded so that it includes both the midwives right to practice decisions and the mothers right to decide the care that she wants (p50). The Nursing and Midwifery Council (NMC, 2008) also demands that you [Nurses Midwives] are personally accountable for actions and omissions in your practice and must always be able to justify your actions. This is reaffirmed in the NMC (2004) Midwives Rules and Standards when it advises that practice should be based on best available evidence and we are accountable for our own practice accountability cannot be taken from us from another practitioner and accountability cannot be given to us from another practitioner p17. Ledward (2004) reminds us that autonomy should not be limitless, midwives should work within their own personal competence. If a woman is low risk and uncomplicated then obstetrics should not interfere. Although Myles (p7 ref properly) agrees, they go on to advise that autonomy is not about creating professional boundaries or exerting powers to protect what they see if their territory does this mean that we shouldnt be autonomous Drivers for safeguarding Changing Childbirth Changing Childbirth was based on the principle of autonomy, it expanded the midwives professional autonomy and the main focus was that care should be woman centred (Ledward 2004). Deery Kirkham (2006) try to advise why the teams that were set up after Changing Childbirth did not work. Caroline Flints team who were the focus of a know your midwife (KYM) scheme, had worked as a team for a while and each person had a strength so their dynamics were successful. When teams were created during the NHS Deery Kirkham suggest that no thought was given to the team environment and as such midwives were quite anxious and felt demotivated and demoralized. These midwives, who were meant to provide support to the women in their care, were not supported in their working environment. It was apparent that the focus was on finances and not on the women. This was echoed by Clarke (2004) who suggests that changing childbirth wasnt accepted by midwives as they felt unprepared and unwilling to accept th e new level of responsibility (p227) Maternity Matters As a driver to safeguard childbearing and womens health, it seems appropriate to say what they advice autonomous to mean. Autonomy means having the freedom to act on behalf of childbearing women and work in partnership, have knowledge and capability to provide continuous care for straightforward pregnancies as well as having a working relationship with other members of the healthcare team. Do you agree The executive summary advised its aim was to develop a patient-led NHS that uses available resources as effectively and fairly as possible to promote health, reduce health inequalities and deliver the best and safest health care. It also advised that there should be National choice guarantees:- 1. Choice of how to access maternity care 2. Choice of type of antenatal care 3. Choice of place of birth homebirth birth in local facility , inc hospital, with MLC birth in hospital with maternity team 4. Choice of postnatal care. Is it happening anywhere? The Prime Ministers Commission on the future of Nursing and Midwifery in England It drew on systematic reviews conducted in OECD countries with broadly comparable health systems and nursing/midwifery roles; 17 of the 32 reviews looked at studies from the UK. It only included studies where it could be ascertained what was being done and by whom, and to what other types of care nursing and midwifery was compared (no intervention, different models of nursing or midwifery care, or care from other health professionals).Can easily be interpreted as a revision of Maternity Matters and NSF Children, Young People and Maternity Services and Changing Childbirth. The Commission was launched by the Prime Minister on 10 March 2009, and was asked to report by the end of March 2010. It was highlighted early on that there was room for improvement in maternity services; there were unnecessary medical interventions, limited choices limited involvement in decision making for women. The commission called for views off people and in 4 months their independent website had had 14000 hits. They received 2500 views, but this was from organisations on behalf of their members and individuals. Most people understood the role of the midwife in relation to maternity, however, many worryingly, believed that the doctor input was necessary even in normal pregnancy. They reviewed existing effectiveness ( cost effectiveness) drew on rapid systematic reviews and the findings for midwifery was positive! Midwife led care for low risk women compared to dr led care appears to improve a range of maternal outcomes. à ¢Ã¢â‚¬  Ã¢â‚¬Å"no of procedures in labour and à ¢Ã¢â‚¬  Ã¢â‚¬Ëœ satisfaction with care. No evidence of any adverse outcomes associated with MLC. They have proposed a pledge to be taken on under the NHS constitution, which they believe after interpreting the feedback, renew the sense of civic responsibility and provide guidance on handling the impact of economic pressures on health services. The guiding principles of the NHS are underpinned by core values derived from extensive discussions with staff, patients and public. These values are: à ¢Ã¢â€š ¬Ã‚ ¢ respect and dignity à ¢Ã¢â€š ¬Ã‚ ¢ commitment to quality of care à ¢Ã¢â€š ¬Ã‚ ¢ compassion à ¢Ã¢â€š ¬Ã‚ ¢ improving lives à ¢Ã¢â€š ¬Ã‚ ¢ working together for patients à ¢Ã¢â€š ¬Ã‚ ¢ everyone counts. Evaluation of midwifery Our commissioned review found evidence of the benefits of midwifery in three systematic reviews conducted in the UK, Switzerland and the USA that compared midwife-led care during pregnancy and after birth with doctor-led care (Caird et al. 2010). No evidence of a difference between providers was found for infant outcomes. Midwife-led care demonstrated better maternal outcomes than doctorled care with respect to pregnancy-induced hypertension, spontaneous vaginal birth and breastfeeding initiation, and less intervention, in terms of instrumental deliveries, episiotomies, use of analgesia and anaesthesia. Women receiving midwife-led care were less likely to experience antenatal hospitalization and fetal monitoring in labour. Midwife-led care was beneficial in terms of service users satisfaction and perception of care, and was more likely than doctor-led care to result in attendance at birth by a known midwife. There was no evidence of a difference between providers with respect to some other maternal outcomes and interventions, including Caesarean sections. The mean number of antenatal visits and duration of postnatal stay did not differ between providers. Other studies support this evidence that midwife-led care for low-risk women, when compared to doctor-led care, appears to improve a range of maternal outcomes, reduce the number of procedures in labour, and increase satisfaction with care. The narrower scope and more specific expected outcomes of midwifery make its socioeconomic case easier to construct. The challenge is not to analyse what midwives can contribute, but to ensure their resource is properly used. At present, for example, there is some wasteful duplication between midwife and GP, and midwife and obstetrician. The midwifery offer has not changed and the midwife should work at all times in the way she is enabled to in statute and through education; otherwise society is not getting best value for money. High Impact Actions for Nursing Midwifery A page advises that increasing normal birth and stop unnecessary caesarean sections through MWs taking the lead role. Gould (2010) advises that this document defines the need to rebalance between medical focus and more emphasis on involving midwifery, however, Goldstein (2007) (In Gould 2010) suggests that more work should be done to stop loss aversion phenomena, whereby the public believe that an obstetric unit becoming a midwife led unit is a downgrade and not a positive. A sense of loss for not having Drs and Epidural available. However, it could also be that this time of budget cutting, could assist with the Prime Ministers commission as Gould (2007) suggests that medicalization will not be affordable. This would certainly help with a redistribution of power.

South Africa Gdp Compared to Brazil’s

Personal quote: Through economics, engineer the world†¦ ECONOMICS 232 BRAZIL- SA REPORT Introduction In 2010, South Africa joined The BRIC and set its level of ambition not only as an African leader, but also as an emerging world class economy along Russia, China, India and Brazil. This report will analyze and look at the economic trends and fluctuations between the later and South Africa from the year 2000 to 2010 using released World Bank data. AnalysisAccording to the World Bank, South Africa GDP was of about one hundred and thirty two billion in 2000 while Brazil’s was at six hundred and forty four billion Dollars. Over the following decade 2000 – 2010, the two economies registered a considerable and equal improvement of their total production with a respective increase of 41 % for South Africa and 42% in the case of Brazil. The GDP per capita on the other hand increased at a lower rate over the same period. While South Africa leveled up by 22. 4%, Brazil bette red its GPD per capita by 25 . %. This further entails a GDP yearly increase of $ 1095 /capita with regards to the former, and $1409/capita for the later. A better look at aggregate expenditure components will provide more detailed resources in explaining the above increase of GDP within the two economies. In 2000, South Africa and Brazil consumption by households ( C ) was about 63% and 64% of GDP, largely above the rest of the components where total gross capital formation ( I ) lied low with 16% and 18% respectively, and lastly a total government expenditure ( G ) of 18 and 19%.As it appears, the two economies spent relatively equivalent proportions of their expenditure aggregate component on GDP. At the end of the decade,2010, total consumption ( C ) rose by 49 % for both economies, Investment ( I ) strongly incremented by 93% with regards to South Africa and 52% in the case of Brazil which correlated with a respective increase of 3. 17% and 45% increase in the money supply in b oth countries over the period.Parallel to the increase in GDP, the two economies registered noticeable increases of Gross Value Added ( VGA ). In fact, between 2000 and 2010, South Africa VGA increased by 38% while Brazil as usual experienced a little higher accretion of 41 %. Looking at sectorial contribution, tertiary sector imparted for more than half of total VGA in 2000 as illustrated by the graphs below. 1. 1 South Africa World Bank 2000 data analysis : Sectorial Contribution to VGA . 2 Brazil World Bank 2000 data analysis : Sectorial contribution to VGA In 2010, South Africa tertiary contribution to VGA only increased marginally by 3% and hence moved from 65% in 2000 to 68% in 2010 where it leveled up to Brazil’s. Conversely, primary and secondary sector contribution deteriorated between 2000 and 2010 . The South African primary sector declined from 3% to 2% while the secondary also experienced a marginal decline of 3%.On that point, Brazil went through proportional ch anges with secondary sector falling from 28% to 25%, leaving the primary with a small yet surprising amelioration of its contribution from 5. 60% to 5. 86% . Graph 2. 1 and 2. 2 provide a more visual depiction of the above facts. 2. 1 South Africa World Bank 2010 data analysis : Sectorial contribution to VGA 2. 2. Brazil World Bank 2010 data analysis : Sectorial contribution to VGA Besides the above increase in VGA, another important factor to be onsidered is how the level of openness of both countries drastically evolved over the decade 2000 -2010. South Africa exports incremented by 13% while Brazil’s skyrocketed by 86%. This implies that Brazil opened to the rest of the world at a much higher level, local firms growing into world competitors, which not only appreciated the country’s currency but increased its competiveness and decreased dependency on imported products. South Africa imports increased by 73% in contrast to Brazil which only increased by 21%.This high level of imports from South Africa will eventually result in the deterioration of the balance of payment. Moreover, while Brazil rate of unemployment oscillated between 6 and 9% over the decade, South Africa experienced a rather high rate of unemployment, the lowest in 2007 and 2008 with an average rate of 23% and the highest between 2002 and 2003 with an average of 31%. Conclusion This report deciphered and revealed an objective analysis of two BRICS economies, precisely South Africa and Brazil over ten years, 2000-2010. Erouane Langard 747 Words

Accounting Information System - 6282 Words

Journal Entries in an ERP This assignment reviews basic accounting entries for a series of transactions, emphasizes the integration of journals to the financial statements, and introduces students to these journal entries in SAP ERP Journal Entries in an ERP This assignment reviews basic accounting entries for a series of transactions, emphasizes the integration of journals to the financial statements, and introduces students to these journal entries in SAP ERP ProductSAP ERP GBIRelease 6.04LevelUndergraduateGraduateBeginnerFocusAccounting Entries in Manual and Automated SystemsIntegration of Accounting JournalsAuthorsJim MenschingNancy JonesContributorsPatti BrownVersion1.0 | MOTIVATIONThis assignment is†¦show more content†¦John Davis earned his racing scars in the mountain racing circuit in America, where he won numerous downhill and cross-country championships. Early on, John realized that the mass-produced bicycles available were inadequate in many ways for the type of racing he was doing. So, John stripped four of his old bikes down to the bare metal and rebuilt them into a single â€Å"Frankenstein† bike that he rode to win the national championship. Once news of his Frankenstein bike got out, John’s friends and even his competitors began asking him to build them a Frankenstein bike too. While recovering from an injury in 1990, John started producing the first series of Frankenstein bikes in his garageâ₠¬â€each one custom-built from cannibalized parts from other bikes. As more and more orders came in, John successfully expanded Frankenstein Bikes from his garage operations into a full-blown manufacturing facility in Dallas and began producing custom trail bikes which he sold through a network of specialized bike dealers throughout the country. At nearly the same time, halfway around the world in Heidelberg, Germany, Peter Schwarz was studying engineering and competing in regional touring races on weekends. In between his races and studies, Peter worked at a bike shop in Heidelberg, fixing student bikes and tuning the touring bikes that he and his friends rode for competitions. As Peter’s reputation as a fierce competitor and mechanical wizardShow MoreRelatedAccounting Information System1811 Words   |  8 PagesDiscussion I. I. Accounting information system is a combination of collecting, recording, storing, and processing data of a business. The advancement of technology initiates business firms to seek for new innovations that would greatly help in business functions. 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Economics Project Phase - Free Essay Example

Sample details Pages: 3 Words: 965 Downloads: 3 Date added: 2017/09/23 Category Advertising Essay Type Narrative essay Level High school Did you like this example? ECONOMICS PROJECT PHASE – I DEMAND ANALYSIS HIMALAYA NEEM FACE WASH Submitted to: Ms. Geeta Jaglan Submitted By: Kapil Chadha Kriti Puri Section: E 1ST SEM. AIBS AMITY UNIVERSITY CONTENTS 1. Basic Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2. Price Elasticity of the Product†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8 3. Analysis of the Product†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 4. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 BASIC INTRODUCTION DEMAND The amount of a particular economic goods or service that a consumer or group of consumers will want to purchase at a given price. In simple words, it refers to how much (quantity) of a product or service is desired by buyers (Consumers) Example: A person wants an LAPTOP and he has $700 to spend on it. He is ready to spare $700 and so he has created a demand for that product which the market should supply. SUPPLY The total amount of goods or service available for purchase depending on the demand is called supply. In other words, it represents how much a market can offer for the product demanded. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. DEMAND CURVE The demand curve shows the amount that consumers are willing to buy given a particular market price. It is the graphical representation of a demand schedule. For example: A De mand schedule of a Particular product is as follows: PRICE54321 QTY. DEMANDED1017265375 The Demand Curve will be The demand curve is usually downward sloping, since consumers will want to buy more as price decreases. Demand for a good or service is determined by many different factors other than price, such as the price of substitute goods and complementary goods. In extreme cases, demand may be completely unrelated to price, or nearly infinite at a given price. Along with supply, demand is one of the two key determinants of the market price. FACTORS DETERMINING THE DEMAND of the PRODUCT Some factors that determine the demand for a product: ?Price of Product and its substitutes ?Consumer’s income ?Consumer’s taste and preferences ?Consumer’s Future expectations ?Population of a country and its credit facility ELASTICITY of DEMAND The Degree of responsiveness of demand to the change in its determinants is called Elasticity of Demand In simple, elasticity is th e ratio of the percent change in one variable to the percent change in another variable. This concept plays an important role in business-decisions regarding manoeuvring of prices with a view to making larger profits. PRICE ELASTICITY of DEMAND Generally it is defined as the responsiveness or sensitiveness of demand for a commodity to the changes in its price. More precisely, elasticity of demand is the percentage change in demand as a result of one percent change in the price of commodity. Price elasticity (ep) is given by Mathematically, definition of elasticity is given by Where Qd = Original Quantity demanded P = Original price ?Q = Change in quantity demanded ?P = Change in price. PRICE ELASTICITY AND TOTAL REVENUE Price and total revenue are related as follows: Total Revenue = Price ? Quantity There may be 3 kinds of price elasticity a). Less than unit elastic (ep1) In this situation, change in quantity demanded is greater than the proportionate change in price. Therefor e total revenue increases as price falls and vice versa. An increase in price would result in an increase in revenue, and a decrease in price would result in a decrease in revenue. In the extreme case of elasticity near 0, the demand curve would be nearly vertical, and the quantity demanded would be almost independent of price. The case of zero elasticity is described as being perfectly inelastic. PRICE ELASTICITY of the PRODUCT PRODUCT TAKEN Himalaya Purifying Neem Face Wash 100ml. One of the most prominent product of The Himalaya Drug Company, the demand of this product is growing day by day irrespective of the increase in the price of the product. Its total revenue is increasing which is discussed below: PRICE ELASTICITY Himalaya Neem Face Wash (100ml) sales statistics Sales VolumePrice in Rs. Dec’08-Sep’09Oct’09-Jul’10% ChangeDec’08-Sep’09Oct’09-Jul’10% Change 22,19,65833,13,97949. 30%65707. 69% Substituting in the fo rmulae of price elasticity, we have ep = (49. 30/7. 69) = 6. 41 which is greater than 1 ep1which means elastic demand. Here we see an increase in the total revenue (TR) as a result of the marginal increase in the prices. ANALYSIS OF THE PRODUCT FACTORS RESPONSIBLE FOR ELASTIC DEMAND ?During the last 2 years many new products have been launched by the competitors like Everyouth face wash, Ponds, Garnier etc with nominal price range but because of the herbal nature and optimum quality of the product, it is still winning the hearts of the consumer. The product contains less of chemicals as it is herbal in nature. Consumers these days are shifting more towards buying herbal products to minimize the harmful effects of chemicals. ?The price increase is marginal in nature and is not affecting the buying capacity of the consumers. ?The marketing strategy of the company so as to reach to the common man is much more effective than its competitors. ?In recent years, consumers taste and prefere nces has taken a shift towards natural products as they are not harmful to their body. CONCLUSION After analyzing the price elasticity of the product, we found that the demand sales of Himalaya Neem Face Wash has been increasing steadily over the years and currently the company is enjoying the peak position in face wash categories in India. Even an increase in the price of the product didn’t have any effect on its demand. With monthly sales of more than 5, 00,000 units, Himalaya is the leader in face wash segment in India with a market share of around 70%. The study of this phase of the project has helped us to understand the concept of â€Å"Demand Analysis and Price Elasticity† and how this concept is useful in analyzing the demand of the product and its applications. Don’t waste time! Our writers will create an original "Economics Project Phase" essay for you Create order