Explain Finnis’ Natural Law Theory (30 marks) John Finnis‚ an Australian legal philosopher has tried to resurrect the natural law tradition in moral philosophy and law since the mid-1960s. He tries to offer a "neo-Aquinian" natural law philosophy which does not presuppose a divine being. By focusing attention on goods rather than a single Good‚ Finnis skilfully articulates what he calls a theory of moral action for our day. Or‚ in other words‚ he seeks a theory of how to live well. Finnis identifies
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1. If a firm is able to properly calculate the price of a elasticity of demand for its products‚ it will be able to determine the market’s responsiveness‚ or sensitivity‚ to changes in price for a specific product and will allow the firm to more accurately forecast the effects on total revenue. Knowledge of elasticity can help a firm to project big-picture effects of raising or lowering products’ prices by predicting changes in market price on total industry sales and total consumer expenditures
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1(a) Explain the key demand side drivers of price for oil. In recent years‚ the fluctuations of oil prices have gotten the attention of the whole world. From $20s in 2003‚ it hit a mid-term peak of $148 in mid 2008‚ then fell to $30 during early 2009‚ and now back to $70-$80. Economic principles have demonstrated that the rise of oil price is a function of lack of supply and greater demand. We know that oil is lack of supply since there’s no major oil field found in the last 40 years and oil
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Explain the purpose of employment law and how it is enforced. Choose an area of employment you are familiar with and state whether or not you believe the objectives of this law are met in practice and whether or not its enforcement is effective. 1.1 Explain the aims and objectives of employment regulation The role of employment law is to achieve social justice and protect employees. There are two distinct branches of law‚ which include criminal and civil law. Criminal law in concerned with
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Britain. The housing market is similar to any other markets which concludes with the buyers agreeing with the sellers on a certain price for the property. For the housing market the supply will always stay inelastic as prices are always changing. There are a number of different variables which can effect the demand and supply of the housing market such as the buyers ideal location of a home‚ somewhere which is suitable for raising a family or practicality reasons such as work. Most households need homes
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Explain the strengths of the Natural Law Theory. Natural Law is a deontological theory of ethics. According to Thomas Aquinas it is absolutist and depends on the idea that God created everything with a purpose and supreme good is found when that purpose is fulfilled. For Aristotle‚ who heavily influenced Aquinas’ ideas‚ he believed that supreme good for humans is happiness. Thomas Aquinas agreed with Aristotle‚ but saw a human’s supreme purpose to be perfection. The fundamental principles of
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Common Problems in Law Enforcement Course Principles of LPSCS Unit II Law Enforcement Essential Question How does the enforcement of criminal laws present problems for law enforcement personnel and how can we best resolve those issues? TEKS §130.292(c) (7)(E) Prior Student Learning Criminal laws Estimated Time 7 to 9 hours Rationale There are common problems that exist when attempting to enforce laws against crimes such as electronic crimes‚ hate crimes‚ hot pursuits
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market but provides interesting thoughts for further research. TABLE OF CONTENTS INTRODUCTION Error! Bookmark not defined. MARKET STRUCTURE/COMPETITIVE ANALYSIS Error! Bookmark not defined. Supply and demand analysis 5 Income factor 6 Demand factor 7 BEHAVIOUR OF FIRMS IN THE MARKET 8 A monopoly’s revenue 8 MARKET EFFICIENCY AND ISSUE 9 Market efficiency 9 ASTRO profit maximisation (monopoly) 11 The welfare cost of monopoly 12 The deadweight loss 13 Is monopoly
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chapter four Elasticity of Demand and Supply CHAPTER OVERVIEW This is the second chapter in Part Two‚ “Price‚ Quantity‚ and Efficiency.” Both the elasticity coefficient and the total revenue test for measuring price elasticity of demand are presented in the chapter. The text attempts to sharpen students’ ability to estimate price elasticity by discussing its major determinants. The chapter reviews a number of applications and presents empirical estimates for a variety of products. Income
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Government and Private Organisations are partners in public services delivery. We will think about whether or not Government is the best organisation to provide public services‚ or the private or either the non-profit sector by giving the merits and the demerits of each of them. Key Words Public Service is a service provided by government or local government. Private Service provider is a private service provided by private business. Example rail transport is now privately run in most countries with
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