Required: Show that the equilibrium condition and consumer equilibrium under both cardinal and ordinal utility theory are identical. They both assume that the consumer is rational. Consumer equilibrium‚ under cardinal utility theory‚ is achieved when the sufficient condition is met. That is‚ the total expenditure is equal to the consumer’s income. If a consumer is assumed to consumes two commodities only X and Y‚ then: Utility is a function of Y and X; U = f(X‚Y)…………………………..i Let the price
Premium Utility Consumer theory Substitute good
Discuss how a) expectancy theory and b) equity theory can explain motivation at work. Motivation is the cognitive decision-making process through which goal-directed behavior is initiated‚ energized‚ directed‚ and maintained (Buchanan & Huczynski‚ 2010‚ p. 267) There are two types of theories that attempt to explain motivation at work – process theories and content theories. Content theories of motivation focus on goals that motivate employees while process theories focus on how employees make
Free Motivation Theory Psychology
Can early insecure attachment doom the child to psychopathology in later life? Shaffer‚ (1993) defines attachment as a “close emotional relationship between two people two persons‚ characterised by mutual affection and desire to maintain proximity”. According to Browby‚ (1969) attachment behaviours are formed in infancy and help shape the attachment relationships people have as adults. Psychopathology’ refers to study of mental illness or mental health distress or the manifestation of behaviours
Premium Attachment theory Psychology
of view of Utility Theory. As consumers‚ we are constantly forced into making choices. They face a variety of goods and services which can be purchased‚ but often are limited by the amount of money with which those purchases can be made. The utility theory‚ also sometimes referred to as the consumer behavior theory‚ is often used to explain the behavior of individual consumers and the amount of satisfaction a consumer derives from the consumption of goods and services. The theory of consumer behavior
Premium Consumer theory Utility Preference
Hall‚ Theory Hall has become one of the main proponents of reception theory‚ and developed Hall’s Theory of encoding and decoding. This approach to textual analysis focuses on the scope for negotiation and opposition on part of the audience. This means that the audience does not simply passively accept a text — whether a book or a film — and that an element of activity becomes involved. The person negotiates the meaning of the text. The meaning depends on the cultural background of the person
Premium Stuart Hall Cultural studies Sociology
Attachment Theory The Attachment theory is focused on the relationships and bonds between people‚ particularly long-term relationships including those between a parent and child and between romantic partners. Attachment is an emotional bond to another person. Psychologist John Bowlby (1969‚ 1988) was the first attachment theorist‚ describing attachment as a "lasting psychological connectedness between human beings." Bowlby believed that the earliest bonds formed by children with their caregivers
Premium Attachment theory John Bowlby
THEORY OF CONSTRAINTS The Theory of Constraints (TOC) is a management philosophy where three financial measures of profit‚ return on investment (ROI) and cash flow are presented. All three of these measurements are necessary. First‚ we need an absolute measurement of profit‚ the amount by which revenues exceed expenses. Second‚ we need the relative measurement of ROI that compares the amount of money made relative to the amount invested. Finally‚ we must have enough cash coming in to meet expenses
Premium Theory of Constraints Rate of return
Communication Theory Manish Kumar copyright 2013 Introduction Interactive multimedia is a communication tool. It therefore seems reasonable to begin our quest for theory upon which to base investigations concerning the effectiveness of design and development decisions in the realm of communications theory. Communication encompasses a great deal of human (and animal) activity. Reading‚ writing‚ listening‚ speaking‚ viewing images‚ and creating images are all acts of communication. There are
Free Communication Communication theory
Cultivation Theory: Reality Versus Fiction Cultivation theory is a social theory‚ which examines the long-term effects of television on American audiences of all ages. Developed by George Gerbner and Larry Gross of the University of Pennsylvania was the Cultural Indicator project‚ which was used to identify and track the ’cultivated ’ effects of television on viewers. At a very basic level‚ cultivation theory focuses on the role of the media in shaping how people perceive their
Premium Cultivation theory Mass media Sociology
will make demands such as financial rewards‚ greater leadership responsibilities‚ promotions‚ or even basic recognition. (This "equity theory" follows true in relationships also. For example‚ if one partner feels as if he/she is putting more into the relationship than the other‚ he/she may opt to leave.) The military is a hard place to effectively use the equity theory due to the fact that the promotion system is based on a point and time in service scale rather than the individual accomplishment of
Premium Non-commissioned officer Sergeant Equity theory