Friday, September 6, 2019
Principles of assessment Essay Example for Free
Principles of assessment Essay 1. 1 Explain the functions of assessment in learning and development What is assessment? This is the term given to the process of checking that learning has occurred and to check if that learning is effective. It is a way to evidence/ prove a learners achievement in the area being assessed. Assessment I is also used to identify learners needs, how best to support such learner while contributing to quality assurance and the development of good practice . There are three main stages of assessment namely; 1. Initial Assessment 2. Formative Assessment And 3. Summative Assessment . 1. 2 Why Assess? If you have just delivered a training session and you donââ¬â¢t assess, how can you be sure that any learning has taken place? Or if you are trying to work out a personââ¬â¢s level of skill in a particular area, how would you know whether their skill level is poor, moderate or exceptional without assessment? There are various reasons to assess such as: â⬠¢Determining level of knowledge understanding â⬠¢Ensuring that learning is taking place â⬠¢Checking progress. Fulfilling part of a certification requirement like Nvq, PTTLS, etc. . Ensuring the learners specific domains has been considered. Hence the need for assessment at various stages of learning. Giving a summary of learning for the person carrying out the assessment means they can be confident that the candidate has the required level of knowledge on a particular topic or competency for a certain task. For the candidate, assessment usually means reassurance of their own level of knowledge / competency and usually a certificate at the end of the day.
Thursday, September 5, 2019
Xenobiotics Metabolizing Enzymes Very Important Exogenous Endogenous Compounds Biology Essay
Xenobiotics Metabolizing Enzymes Very Important Exogenous Endogenous Compounds Biology Essay Xenobiotics metabolizing enzymes (XMES) are very important for metabolizing of exogenous and endogenous compounds [23]. They are involved in the biotransformation of exogenous compounds like procarcinogen, drugs, solvents. They are categorized into parts: phase I and phase II enzymes. Cytochrome 450 family comes under phase I enzyme. Cytochrome P450 family of enzymes is mainly involved in synthesis and metabolism processes of exogenous and endogenous compounds. CYP genes are located mainly in the liver and within the cell are present in the endoplasmic reticulum and also in the mitochondria. CYP family is divided into four main families: CYP 1, CYP 2, CYP 3 and CYP4. CYP has two main roles in the human body [24]. First, CYP is used by the body to metabolize and transform a range of hydrophobic xenobiotics (exogenous, foreign compounds such as pesticides, carcinogens, and pollutants) to more polar metabolites so that they can be readily excreted in the urine. By biotransforming potentially toxic compounds to less potent forms, CYP works as a natural detoxifying agent of the body. Large populations of CYP are found bound to the endoplasmic reticulum in mammalian liver cells, the primary site of metabolism. The gene families most commonly found in humans and involved in metabolism include cytochrome P-450 1, 2, and 3 (known as CYP 1, CYP 2, and CYP 3). Second, CYP enzymes are used in the synthesis of important signaling molecules, such as steroid hormones in the endocrine glands, fat-soluble vitamins and Metabolism of fats (cholesterol and fatty acids). CYP metabolisms have adverse effects as well as beneficial effects. CYP plays an important role in activating carcinogens, such as polyaromatic hydrocarbon (PAH), by an oxidation mechanism. They are also involved in the metabolism of certain medication that are ingested (endoplasmic reticulum) and also certain toxin/internal substances formed within the cells (mitochondria). These functions mainly depend upon iron present in it as a prosthetic group. Hence, they are called hemoproteins. Iron contains two 4s electrons and six 3d shell electrons in its valence shell. The function of this gene depends on the shifting oxidation state of iron between ferrous Fe2+ (loss of the 4s electrons) and ferric Fe3+ (loss of an additional 3d electron). As the ferric state results in a half-filled 3d shell, it is the more stable form of the two states. As a result, CYP can be readily reduced with the addition of an electron. It is a group of heme-thiolate monooxygenases and involved in an independent NADPH dependent electron transport pathway [24]. Fig1. Metal complex structure of CYP 450 5. MECHANISM 5.1. CARCINOGEN IDENTIFICATION The carcinogen from tobacco smoking is genotoxic carcinogens that are capable on inducing DNA lesion. This carcinogen is divided into two parts, first is direct carcinogens and second is procarcinogens. Direct carcinogens are highly reactive and having an electrophilic groups with surplus positive charge. They interact directly with DNA and form DNA adducts. The example of this carcinogens are N-nitrosoalkylurea, ethyl- and methylmethanesulfonate, N-methyl-N-nitronitrosoguanidine, sulfur mustard, diepoxybutane, beta-propiolactone, ethyleneimine, etc. Initially, procarcinogens are chemically in inactive form. When procarcinogens go inside the body, they interact with different types of enzyme that metabolise in the cell in two steps. In the first step, procarcinogen are activated and converted into electrophilic derivatives. In the second step, the metabolic products are neutralized by conjugation. The first step process is mainly done by CYTOCHROME 450 family and second step process is done by conjugating enzymes include acyltransferase, epoxidases, sulfotransferases, glutathione-S-transferases, UDP-glucuronyl transferases, and transaminases [6]. They are activated by oxidation process that is mainly done by CYP gene. The main procarcinogen in smoking that create negative effect on CYP1A1 genes are mainly polycyclic aromatic hydrocarbon group (Benzo(a)pyrene, Benz(a)anthracene, Benzo(b) fluoranthene, Benzo(c)phenanthrene) and N-nitrosamines (NNK) [8]. CYP1A1 does not form directly tumour, it only makes procarcinogen to carcinogen that forms tumour formation. Cytochrome p450 enzyme comes under the phase1 enzymes which convertes the mutagens to epoxides in the K-region as well as the Bay region of Benzo (a) pyrene [1]. CYP gene carry out oxidation and reduction of the hydrophobic ligands converting them into epoxides usually in the K-region which is then taken up by phase2 enzyme (GST) and metabolized into water soluble compounds (later excreted through urine). But if the epoxide is formed near the bay region then phase2 enzymes become idle without carrying out any metabolic process. The CYP gene metabolises the carcinogens to epoxides, which are highly reactive and binds to DNA and further activate d to diol epoxides. They covert the carcinogen B[a] P into B[a]P-7,8-diol-9,10-epoxides which has got high DNA binding capacity. These mutagens are termed as Bay epoxides as they have tumourogenic effects on DNA. The presence of motif reason of CYP 450 oxidizes the PAH. The motif reason of CYP450 is Phe-X(6-9)-Cys-X-Gly, where X is a specific amino acid. Cysteine binds to heme iron and takes part in the transfer of one atmospheric oxygen atom to the substrate that contained in the pocket of the substrate-binding site in the enzyme active center. In few cases, the life span of metabolites is very short (several milliseconds) due to their high reactivity and fast conversion into stable hydroxylated derivatives. In other cases, due to slow decomposition of metabolites they easily enter into the nucleus, mitochondria, and other cell organelles. The reaction catalyzed by cytochromes P450 is a monooxygenase reaction, e.g., insertion of one atom of oxygen into an organic substrate (RH) whi le the other oxygen atom is reduced to water: RH + O2 + 2H+ + 2e- ââ â ROH + H2O Fig2. Substrate oxidation in the cytochrome P450 system Fig3. Bay and K region of Benzo(a)pyrene and epoxide formation of Bay region Fig4. Epoxide formation of B(a)P 5.2. INDUCTION OF CYP GENE The amount of CYP1A1 is responsible for tumour formation in organs. Basal expression of CYP1A1 is negligible. High amount of CYP1A1 increases the risk of tumour formation or cancer. It can create an imbalance condition between detoxification and activation that leads to adverse effects. It converts the procarcinogen to carcinogen by oxidation process. At high substrate concentrations detoxification becomes saturated and induction can increase the production of reactive metabolites compare to the capacity of cellular defenses, thereby producing toxicity or neoplasia [9]. Procarcinogen increases the amount of CYP1A1. CYP1A1 is induced by two pathways namely canonical and non-canonical signaling pathway of AhR. Canonical signaling pathway enhances the synthesis of CYP1A1 that causes tumour formation. There is no evidence to prove that Non-Canonical signaling pathway is the reason of tumour promoter. Our study show that the research is going on about non canonical signaling pathway. CYP1A1 is also called as AHH (Aryl Hydrocarbon hydroxylase). It is involved in the metabolic activation of aromatic hydrocarbon (polycyclic aromatic hydrocarbons). The studies on the mechanism revealed that ligand like B[a]P binds to the receptor AhR (aryl hydrocarbon receptor) (an intracellular protein that starts the induction process by biding inducer) in the cytosol. When B(a)P goes inside the body, it will pass through lipid membrane before reaching the cytosol. It is a hydrophobic as well as lipophilic compound that accumulates in the membrane of lipid bilayer, So that the membrane loses its reliability and an increase in permeability to protons and ions. Therefore, it creates imbalance the proton motive force and intracellular pH. In addition to the effects of lipophilic compounds on the lipid part of the membrane, proteins surrounded in the membrane are affected. The effects on the membrane-embedded proteins result to a large extent from changes in the lipid environment [7, 9]. So that PAH is able to go inside the cytosol and makes complex with Ahr receptor. Usually the AhR receptor is present as a part of the cytosolic protein complex which includes 2 hsp90, p23 and XAP2 or AIP (also known as co-chaperons). Once the ligand is bound to the receptor, the co-chaperons dissociate and the receptor is translolcated into the nucleus. This complex along with the ligand molecule heterodimerizes, with another molecule ARNT (AhR nuclear translocator). This heterodimer binds to the consensus regulatory sequences such as AhREs (Ah responsive elements), XRE s (Xenobiotics responsive elements) or DREs (dioxin responsive elements) to be found in the promoter region of AhR target genes such as CYP1A1, thereby initiating the transcription by RNA-polyII [1]. The transcription of CYP1A1 gene is inhibited by AhRR protein .The AhRR/ARNT heterodimer stops the transcription process initiated by XREs and also inhibits the heterodimer formation of AhR-ARNT [2,1]. Fig.5. Canonical signaling pathway of AhR 5.3. ALTERATION IN CYP1A1 Mainly four types of polymorphism happen in CYP1A1 that enhances the tumour formation in organs by increasing the oxidation process that makes procarcinogen to carcinogen. These four polymorphisms [19] are as follows: M1 (Msp1), Tââ âC substitution at nucleotide 3801 in the 3-non-coding region. M2 (Msp2), Aââ âG substitution at nucleotide 2455 leading to an amino acid change of isoleucine to valine at codon 462. M3, Tââ âC substitution at nucleotide 3205 in the 3-non-coding region. M4, Cââ âA substitution at nucleotide 2453 leading to an amino acid change of threonine to asparagine at codon 461. These mutations do not happen due to smoking; it can lead to enhance the more AHH (aryl hydrocarbon hydroxylase) activity. Each mutation has different function and plays an important role in the tumour formation. For example, CYP1A1 Msp1 (M1) increases the catalytic activity and CYP1A1 Msp2 (M2) is directly related to other functional polymorphism and creates more PAH-DNA adducts in white blood cells [30]. This mutations happen mainly in lung, larynx, pharynx, oral, breast, ovary, liver, colorectal and esophagus. The mechanism of CYP1A1 is same for all organisms and the formation of tumour in these organs depends upon geographical factor, demographic factor and number of cigarettes. Lung cancer In lung cancer generally Msp1 (Tââ âC) mutations occur, but in Brazil Msp2 (Aââ âG) mutation associates with lung cancer [17, 19]. B(a)P and NNK carcinogen mainly involve with liver cancer. Oral cancer, larynx and pharynx Msp2 and Msp1 mutation also associates with oral cancer, larynx and pharynx [15, 16, 18]. And PAH and NNN are associated with these cancer. Benzo[a]pyrene, NNN and NNK are carcinogens that enhance the oral cancer [29]. The studies of various articles show that CYP1A1 Msp1 (M1) mutation maximum associates with increasing the risk of oral squamous cell carcinoma. Breast Cancer CYPIAI (M1) and CYP1A1 (M2) increase the risk of breast cancer [20, 21].PAH forms PAH-DNA adduct in breast tissue that associates with increased breast cancer. Generally PAH is used for the study of tumor formation in breast cancer because of three reasons, first it is a good model for understanding the chemical mechanism of tumour formation by chemicals. Second the geometric resemblance of PAH and endogenous estrogen is same. Third estrogens and PAH have aromatic ring. PAH are activated by two pathways, first by electron oxidation and second by CYP1A1. DNA adducts are formed by metabolically activated PAH binding with the nucleophilic groups of the two purine bases, adenine (A) and guanine (G). Both adducts may be either stable or depurinating (It is the loss of purine (adenine or guanine) from DNA backbone). The stable adducts is formed by covalently bonding to DNA unless removed during repair, where the depurinating adducts are those that are released from DNA by deterioration of the glycosidic bond .Stable DNA adducts are created when PAH binds with the exocyclic amino group of A or G, where depurinating adducts are formed by covalently bonding of PAH at the N-3 or N-7 position of Adenine or the N-7 or, sometimes, the C-8 position of Guanine [26, 27].
Wednesday, September 4, 2019
Greatest Happiness Principle Analysis Philosophy Essay
Greatest Happiness Principle Analysis Philosophy Essay Some of the eighteenth century English moralists, including Butler and Shaftesbury, stressed the naturalness of benevolence or of seeking the good of others and of its place in the moral life and Hutcheson actually stated that the objective or material end of good conduct is the greatest happiness for the numbers, the phrase that came to be the motto of English Utilitarianism. The great leaders of this school at its prosperous period, the beginning of the nineteenth century, were Bentham, James Mill, and his son, John Stuart Mill. If these moralists had merely argued for a purely hedonistic theory of ethics, maintaining that pleasure is the sole good, their theory might not have met with such general acceptance. Attributed with the fundamentals of utilitarianism are Jeremy Bentham and afterward, John Stuart Mill. They are often referenced together; however, each had opposed viewpoints on more than a few aspects of the theory. Bentham was more basic in his image of utility, focusing on the primal human instincts of making the most of pleasure and avoiding pain. He promoted a scheme called the hedonic calculus. In this method, one could algebraically decide the right choice by setting the potential positive outcomes and negative consequences of an action against another. Bentham was comfortable equating the pleasure of a game of pushpin to that of reading poetry; Mill was choosier, articulating hierarchies of pleasures depending upon their scholarly value. Utilitarianism is based on two sets of premises, the axiomatic truths of egoistic hedonism on one side, and the principles of benevolence and equity on the other side. A mans dedication to the pursuit of general happiness is the best means of achieving happiness for him so reconciliation between egoistic hedonism and utilitarianism maybe possible upon recognition that another persons happiness is of identical value to ones own. Mill believed that the most ethical action was that which brought the most people the greatest amount of happiness. Happiness, according to Mill, is pleasure and the absence of pain, and unhappiness is pain, and the privation of pleasure. The crux of Mills ethical theory is his Greatest Happiness Principle, according to which actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. Every human being tries to promote his or her own happiness, and avoid unhappiness, which is natural rather than ethical however promoting happiness becomes an ethical theory when applied to all human beings, rather than just individuals. Utility is defined as maximizing pleasure over pain, According to Mill, human pleasures are much superior to animalistic ones: once people are made aware of their higher faculties, they will never be happy to leave them uncultivated; thus happiness is a sign that we are exercising our higher faculties. It is true that some pleasures may be base; however, this does not mean that all of them are: rather, some are intrinsically more valuable than others. When making a moral judgment on an action, utilitarianism thus takes into account not just the quantity, but also the quality of the pleasures resulting from. A pleasure is of higher quality if people would choose it over a different pleasure even if it is accompanied by discomfort, and if they would not trade it for a greater amount of the other pleasure. Moreover, Mill contends, it is an unquestionable fact that, given equal access to all kinds of pleasures, people will prefer those that appeal to their higher faculties. The people best qualified to judge a pleasures quality are people who have experienced both the higher and the lower. Furthermore, Mill observed that even if the possession of a noble character brought less happiness to the individual, society would still benefit. Mill also argues that peoples achievement of goals and ends, such as virtuous living, should be counted as part of their happiness. Since the utilitarians standard for judging an act is the happiness of all people, not of the agent alone, thus, a person must not value his own happiness over the happiness of others; and law and education help to instill this generosity in individuals. However, this does not mean that peoples motives must only be to serve the greatest good; indeed utilitarianism is not concerned with the motives behind an action; the morality of an action depends on the goodness of its result only. Moreover, in most aspects of everyday life, a person will not be affecting large numbers of other people, and thus need not consider his or her actions in relation to the good of all, but only to the good of those involved. It is only the people who work in the public sphere and affect many other people who must think about public utility on a regular basis. Utilitarianisms sanctions (internal and external),a feeling for humanity, are based on natural human sentiments, which the proper system of education could nurture. In order to show that happiness is the sole criterion for morality, it is necessary to show that people never desire anything but happiness. Mill says that people do desire things like virtue, which in common language is distinguished from happiness. However, Mill states that people love virtue only because it constitutes a part of happiness. Mill argues that happiness is not an abstract idea, but a whole with component parts. Because virtue is a part of happiness, and promotes the general happiness, utilitarianism encourages the development of virtue. Act Utilitarianism holds that actions should be judged directly according to their consequences for happiness while rule utilitarians are in favor of the principle that actions should be judged according to rules which, if followed, will have consequences conducive to the greater happiness. Critical appreciation Contrary to the impression Benthams and Mills highlighting upon pleasure may give, utilitarianism does not imply or endorse an egotistical approach to life. Bentham says, Each is to count for one and no one for more than one. i.e. my own pleasures and pains and those of others are to be calculated and compared exactly on a par. Utilitarian(s) insist that everyones welfare should be treated as equal. This ensures that utilitarianism is not an egotistical doctrine. Neither is utilitarianism altruistic, i.e. it does allow us to be concerned with our own welfare, though not to the exclusion of others, an attitude of generalized benevolence. The statement that pleasure is the only thing that is desirable commits a naturalistic fallacy. Desirable means what ought to be desired cannot be defined in terms of what men desire and that men actually desire it is no proof of a thing being desirable To infer from the statement that each persons happiness is a good to each particular person, the conclusion that the general happiness is good to the whole number of persons, commits the fallacy of composition.
cars :: essays research papers
It's been all too long since a new American sedan created anything more than an apathetic yawn from consumers. Between relentless Japanese competition and America's seemingly endless obsession with trucks and SUVs, the idea that a domestic four-door could be the "it" car of the year seemed laughable. Then along came Chrysler's new 300 sedan, a car so unabashedly nontraditional in both its style and its substance that it makes the competition look hopelessly bland in comparison. Chrysler veered from the usual route of designing a car that would appeal to the broadest swath of the general public and instead went for a look that's original at best and polarizing at worst. Like it or not, there's no denying that it has a presence on the road that no Camry or Taurus could ever hope to duplicate. Backing up its sinister looks is the performance of a rear-wheel-drive chassis and a suspension design shared with some of its more expensive Mercedes cousins. And not only does the outrageous exterior look good, it surrounds a cavernous, well-trimmed interior that's as spacious as any sedan on the road. Built to straddle the lines between upscale family car and entry-level luxury sport sedan, the 300 offers both a base V6 (190 horsepower) and a midlevel V6 (250 hp), depending on your budget. As surprisingly adept as these V6s are at getting the big sedan up to speed, it's the top-of-the-line Hemi-engined 300C that gives the car its star power. With 340 horses running through a five-speed automatic transmission, the 300C is in a class of its own. And if that's not enough, you can always step up to the high-performance SRT-8 version that packs a 425-hp Hemi under the hood along with larger wheels and a lowered stance. Chrysler took a chance when it decided on such a radical design for the 300 and the results speak for themselves.
Tuesday, September 3, 2019
Advertising and Promotion Essay -- Papers
Advertising and Promotion Advertising is a collective term for public announcements designed to promote the sale of specific commodities or services. Advertising is a form of mass selling, employed when the use of direct, person-to-person selling is impractical, impossible, or simply inefficient. It is to be distinguished from other activities intended to persuade the public, such as propaganda, publicity, and public relations. Advertising techniques range in complexity from the publishing of simple, straightforward notices in the classified-advertising columns of newspapers to the concerted use of newspapers, magazines, television, radio, direct mail, and other communications media in the course of a single advertising campaign. From its unsophisticated beginnings in ancient times, advertising has burgeoned into a worldwide industry. My aims of advertising are: ÃË Inform people about the product ÃË Create a image ÃË Increase sales ÃË Compete with other shops ÃË Introduce in products into the market Informative advertising Currently in the biggest spender on this form of advertising, is the government this advertising is used to pass on information to the public. The passing on of this information is very important in any advert. In my case when deciding how to advertise I can even use this method as to inform about my newsagents shop and where about its situated etc. Persuasive advertising The washing power industry spends as much as the government on advertising, their adverts try to persuade the viewer that their products are much better then the compensation. Their goal is to attract p... ... Budget A budget is a forecast of the profit my business expects to generate in the first year. It sets targets for income and expenditure during the period. Estimates are made of the anticipated income that my business will receive from selling its product, and its expenditure on items such as raw materials, personal costs, advertising, power, transport and administration. My Budget Key Posters = 15p per poster if done by myself, or 40p per poster if produced by specialists (in colour). Leaflets = 15p per poster if done by myself, or 40p per poster if produced by specialists (in colour). Internet Website = A professional 2 page website starts at à £350 + VAT including website design (including graphics), domain name and 1st year's web hosting. This service is offered by a popular company "ECWEBS".
Monday, September 2, 2019
Reservation
Republic of the Philippines Batangas State University Governor Pablo Borbon, Main Campus II College of Engineering, Architecture, Fine Arts and Computing Sciences PASSENGER RESERVATON SYSTEM Presented by: Atienza, Zarah Jane C. Caringal, Clariza Jane R. Castor, Chiara R. Fondevilla, Rolan A. Mendoza, Ana Marie P. BSIT- 3102 Presented to: Ms. Amy U. Aclan nstrctor Executive Summary The ABC Bus Corporation has approached a new way in reserving their accommodating their passenger by creating a computerize bus reservation systems that aims to provide user excellent services.Bus reservation system deals with maintenance of records of details of each passenger who had reserved a seat for a journey for various places in Bangalore. The said bus reservation company has 60 routes operating from Bangalore among those are the regular or ordinary, semi-luxury and super-deluxe buses. These systems should contain information about its passenger like date of reservation, their destination, and numbe r of seats and cancellation of their reservation. The system should meet the requirements of the business to make it interactive and user friendly.Our project is to computerize traveling company to manage data, so that all the transactions become fast and lessen any possibly error in transaction like calculation mistake, bill generation and other things. It replaces all the paper work. It keeps records of all bills also, giving to ensure 100% successful implementation of the computerized Bus reservation system. It also shows reports of the transaction done by the company to monitor their daily operation. Objective/s Main Objective: To develop an effective and functional passenger reservation system. Specific Objectives: a.To record data of various routes originating from Bangalore b. To verify that the total distance travelled by each passenger does not exceeded 3000km. c. To provide a facility for cancellation. Analysis Traveling is a large growing business in or country. Bus reser vation system deals with maintenance of records of details of each passenger who had reserved a seat for a journey. It also includes maintenance of information like schedule and details of each bus. We observed the working of the Bus reservation system and after going through it, we get to know that there are many operations, which they have to do manually.It takes a lot of time and causes many errors. Due to this, sometimes a lot of problems occur and they were facing many disputes with customers. To solve the above problem, and further maintaining records of items, seat availability for customers, price of per seat, bill generation and other things, we are offering this proposal of reservation system. Our reservation system has two modules. First module helps him to reserve a ticket. Using second module he can cancel a reserved ticket. Requirements Definition Functional Requirements a. Should be able to create a new login for accessing the reservation facility. . See current reser vations on different buses along with the details. c. The system should automatically show amount of money needs to be pay for selected seats. Non- Functional Requirements a. The administrator shall usually do anything on the system in all forms. Administrator is responsible for updating and maintenance of the systems content such as adding/ removing information about the system. b. Customers are people who shall use the Passenger Reservation System. To use this service the customer should have the basic computer using ability. Process Model Data Model E- R Diagram Use Case Input/Output design
Sunday, September 1, 2019
Macro ad/as model
Let us first understand the components of the AD/AS model, so we can determine and identify the factors which play a part in the level of output in the economy, and learn how the government intervenes in order to implement macro-policies in order to increase output, and the effects of these policies on the economy. The AD/AS model shows the combinations of both the aggregate demand curve and the aggregate supply curve.The aggregate demand curve shows the combinations of the price level and level of output at which both the money market and good market are in equilibrium, while the aggregate supply curve shows for each given price level the mount of out of output the firms are willing to supply. As mentioned in the 10th edition of macroeconomics by Mc Grawhill ââ¬Å"the aggregate supply -aggregate demand model is the basic macroeconomic tool for studying output fluctuationsâ⬠(Pg. 98, Macroeconomics, Rudiger Dornbush).Let us first understand the market equilibrium price of the p roduct and then identify and analyze how factors such as change in demand and supply, elasticity, separating and pooling equilibrium, market structure determine the price of a good or service. In free market, equilibrium price is the price at which there is no surplus or shortage nd therefore quantity demanded equals quantity supplied (Sloman 2008). At equilibrium, any change in quantity demanded or quantity supplied will move the market towards disequilibrium Let's work through an example.For this example, refer to . Notice that we begin at point A where short-run aggregate supply curve 1 meets the long-run aggregate supply curve and aggregate demand curve 1 . The point where the short-run aggregate supply curve and the aggregate demand curve meet is always the short-run equilibrium. The point where the long-run aggregate supply urve and the aggregate demand curve meet is always the long-run equilibrium. Thus, we are in long-run equilibrium to begin. Now say that the Fed pursues ex pansionary monetary policy.In this case, the aggregate demand curve shifts to the right from aggregate demand curve 1 to aggregate demand curve 2. The intersection of short- run aggregate supply curve 1 and aggregate demand curve 2 has now shifted to the upper right from point A to point B. At point B, both output and the price level have increased. This is the new short-run equilibrium. But, as we move to the long run, the expected price level comes into line with the ctual price level as firms, producers, and workers adjust their expectations.When this occurs, the short-run aggregate supply curve shifts along the aggregate demand curve until the long-run aggregate supply curve, the short-run aggregate supply curve, and the aggregate demand curve all intersect. This is represented by point C and is the new equilibrium where short-run aggregate supply curve 2 equals the long-run aggregate supply curve and aggregate demand curve 2. Thus, expansionary policy causes output and the pric e level to increase in the short run, but only the price level to increase in the long run
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