Importance of National Income Statistics Essay Example for Free

Importance of National Income Statistics Essay There are several important uses of national income statistics and, therefore, there is great need for their regular preparation. National income estimates provide not only a single figure showing the national income, but also supply the detailed figures in regard to the various components of the national income. It is both the figure of national income and the details regarding its various constituents that throw light on the functioning and performance of the economy. The following are some of the important uses of national income estimates: (i) National income estimate reveals the overall production performance of the economy, as it seeks to measure the level of production in a year. Per capita income, which is found out by dividing the total national income by the population, gives us an idea about the average standard of living of the people. Economic welfare depends to a considerable degree on the level of national income and the average standard of living of the people. Thus, the figures of national income and per capita income indicate the level of economic welfare of the people of a country. (ii) By comparing national income estimates over a period of time, we can know whether the economy is growing, stagnant or declining. If the national income increases over years, it means that the economy is growing. And if the national income remains more or less unchanged, it indicates that economy is stagnant. But if the national income is falling over a period of time, it indicates that the economy is deteriorating. In case the economy is growing, we can also judge the rate of economic growth or development by measuring the rate of increase in national income. Further, by comparing the per capita income over years, we can know the changes in the standards of living and economic welfare of the people. (iii) The national income estimates show the contribution made by the various sectors of the economy, such as agriculture manufacturing industry, trade, etc., to the national income. Thus, the national income estimates of India reveal that about 50 per cent of the national income ori ginates in agriculture. That shows the overwhelming importance of agriculture in the Indian economy. (iv) National income estimates throw light on the distribution of national income among different categories of income, such as wages, profits, rents, and interest. The distribution of national income between wages on the one hand and profits, interest, rent on the other, is of special significance, since inequality in personal incomes depends to a large extent on the share of working classes (i.e., wages) and the share of property owners (i.e., rents, profits and interest). (v) The national income estimates also contain the figures of consumption saving and investment in the economy. Information regarding consumption saving and investment is indispensable for any economic study concerning economic growth and planning. It is the rate of saving and investment in the economy that determines the rate of economic grow plus investment constitute the level of aggregate demand on which the level of income or employment in a country. (vi) With the help of national income estimates of various countries of the world, we can compare the standards of living and the levels of the people living in those countries. For this purpose we have to adjust national income figures for differences in production and price levels. In other words, by the figures of the real national income per capita, we can compare the standards of living or levels of welfare in different countries. Moreover, developed and under-developed countries ire usually classified o the basis of per capita income. (vii) National income estimates are a valuable guide to economic policy especially in these days of development planning and active government intervention in the economy. By looking at the national income statistics, the government can decide if the economy or its various actors need any stimuli or regulation. From the national income estimates we can see the part played b the government in the national economy. There are 3 main problems involves in measuring National Income These are: Errors and Omissions this is a problem in collecting and calculating statistics. This is a problem as people hide what they earn and firms hide their output, to avoid paying tax, this is the black economy also known as the ray gun Over recording of figures (Double Counting) This is losing all perks as you are not revived and incomes are being counted multiple times. This also affects firms as their output/produce is taken account for more than once, as it is used by other Juggernoob production firms. Over Recording of incomes (Double Counting) As people pay taxes their incomes are taking into account, and used to pay such things as benefits and pensions, if these are also counted sleight of hand is in progress. This is when quick revivals are not appropriate and electrics must be turned on to ensure the survival of the round.

Blood Diamonds: The Conflict in Sierra Leone Essay -- A Level Essays

Blood Diamonds: The Conflict in Sierra Leone History of Diamonds: The name "diamond" comes from the Greek word, "adamas" meaning unconquerable. Fittingly diamonds are made of pure carbon, and diamonds are the hardest natural substance known to man.[1] Diamonds have long been a sign of wealth and fortune. Kings and queens have worn these forms of concentrated carbon and even more countless millions people over time have lusted after them. These gems can be transparent, truculent white, yellow, green, blue, or brown. To understand the value of these stones, and ultimately their role in war, it helps to first understand their origins and where they come form. Diamonds are the most frequently used form capital by the rebels in Angola, Sierra Leone, and the Democratic Republic of Congo use to purchase weapons. The earliest gem diamonds were found in India and Borneo, were they were found in riverbeds. In the early eighteenth century, deposits similar to those in India were found in Brazil. The story of diamonds in Africa began between December 1866 and February 1867, when a 15-year-old found a transparent stone on his father's farm, on the south bank of the Orange River. Within the next fifteen years, African diamond mines produced more diamonds than the India, the previous leading producer, had in the last 2,000 years. This increase in production occurred at the same time as the diamond mines in Brazil experiences a sharp decline in their production. The depletion of mines in Brazil assured that supply would remain stable and diamond prices would not fall as they previously had when Brazil over produced in the 1730s.[2] Diamonds are the pure form of carbon in a transparent state, that ... ...fer, Stefan. The Last Empire: De Beers, Diamonds, and the World. New York: Farrar Straus Giroux, 1993. Tamm, Ingrid J. Diamonds in Peace and War: Severing the Conflict-Diamond Connection. Cambridge: World Peace Foundation, 2002. Web Sources: Allafrica.com: www.allafrica.com Amnesty International: www.amnesty.org CNN: www.cnn.com De Beers: www.debeers.com -------------------------------------------------------------------------------- [1] www.debeers.com [2] Kanfer, Stefan. The Last Empire: De Beers, Diamonds, and the World. [3] Hirsch, John L. Sierra Leone: Diamonds and the Struggle for Democracy [4] Hirsch, John L. Sierra Leone: Diamonds and the Struggle for Democracy [5] Hirsch, John L. Sierra Leone: Diamonds and the Struggle for Democracy [6] Tamm, Ingrid J. Diamonds in Peace and War: Severing the Conflict-Diamond Connection

Negligence

IntroductionNegligence is a branch of civil law known as tort .tort is defined as a civil wrong in the form of breach of duty from which the legal remedy is an award of damage. Negligence is the doing of something which a reasonable person would not do or the failure to do something that a reasonable person would do which inflicts harm. Negligence covers wide area this meaning that it does not only involve careless conduct and involves a combination of the concepts of duty, breach and sufficient connection in law. The plaintiff does not have to prove that the defendant either intended his act or its consequences. Negligence is based on three essentials which the plaintiff must prove on the base of probability in order to succeed in an action in negligence, this are(i) Duty of care (ii) Standard of care (iii) Sufficient connection in lawDuty of care (dongue v Stevenson)Did the defendant owe the plaintiff a duty of care? This is the question we ask, which the plaintiff must prove on th e balance of probabilities. if no duty of care is owed the plaintiff calm must fail .the judge has the responsibility for deciding whether or not a duty of care exists as the issue is a question of law having regard to the fact of the case . The method used to test the duty of care will differ depending on whether this case involves negligence advice or negligence act Negligence acts are based on the doctrine of-Reasonable foresees ability -Proximity.Reasonable foreseeability Where in reasonable foresee ability we get to ask was the defendant able to foresee that his action or omission would cause harm or injury to the plaintiff? . plaintiff must prove that a reasonable person in similar circumstance to the defendant would be aware that their conduct may create a risk of harming the other person .breach of duty at this stage the concept of reasonable foresbility is concerned with the nature of the risk that has been created by the defendants conduct .in other words how would a  re asonable person respond to what exact type of risk.This is concerned with setting standards of acceptable conduct that will be determined with reference to range of factors including the likely consequences on the plaintiff if the risk eventuates and the burden that would be imposed on the defendant to remove the risk (Sullivan v moody ) (2001) 207 CLR 562 . The following steps are the once the court broad approach seems to involve in determining duty of care3.1Analogies –recognized duties of careDetermine whether there was a reasonably foreseeable risk of injury without that they can be never a duty of care .Determine whether the case is closely analogous to other cases in which duty of care has a ready been established .If not look to the salient features of the case to determine whether they reveal a sufficiently close neighbor relationship to warrant finding a duty of care3.2.2Neighborhood factorThe friend had brought a bottle of ginger beer after she had drunk some of th e ginger beer she poured the remaining onto a dish and decomposed remains of a snail floated out of the bottle .she suffered shock and gastroenteritis .she sued the ginger beer manufacture. Was the manufacture liable to her negligence? The manufacture was reliable.The court held the manufacturers have general duty to entire consuming public to ensure their products do not contain potentially dangerous effects that can be discovered on a reasonable inspection lord Atkins said that you must take reasonable care to avoid acts or omission which you can reasonably foresee would be likely to injure your neighbor. Who the in law is your neighbor? The answer seems to be persons who are closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to act or omission3.2 .3 Social policyDuty of care will not generally be found if doing so would subject the defendants to an intermediate liability. policy considerat ion also apply in wide range of other cases where they allow the court to weigh competing consideration of legal policy to determine whether despite proof of foreseeability and neighbor hood duty should not be imposed either a tall the party need to succeed in his action. What this means is that general  policy issues are only taken into account where it would have been unreasonable to have expected the defendant to have done what would have been nesecassary to prevent the harm that occurred (stovin v wise)3.2.4ProximityWas the defendant so close that the plaintiff had to have him in mind? We have three ways to determine this (i) By physical proximity between the person or property of the plaintiff and the person or property of the defendant (ii) By circumstantial proximity that which exists in particular circumstances (iii) By causal proximity in the sense of closeness of directness of the relationship between the defendant particular act or omission and injury that the plaintiff sustained4.0 Duty of care for negligence advicesThere are clear differences between negligence word and negligence advice. Negligence words cannot cause loss by themselves. They cause loss only because persons act on them in reliance. second it is uncommon for people in social or informal context to make statements less carefully than if they were given advice in business or professionally the last words may be foreseeable receive such a coverage or circulation that application of (dongue v Stevenson) might lead to many claims for large amounts damages in the case (shaddock and associates v Parramatta city council {1981} 150 CLR 225) developed the following test of question4.1 Development of the law(i)Was the advice given on a serious matter? (ii)Did the speaker realize that or ought to have realized that his advice would be acted upon (iii)Was it reasonable for the recipient to act on the advice? Once the fact of the case supports the test it can be concluded that the advisor owed the plaintiff a duty of care4.2 Shaddock test, reliance and assumption of responsibility Shaddock and associate were interested in purchasing some land for development before they made enquires with the local council to ensure there were no plans that would affect they development the Parramatta city council issued a statement saying that there were no plans that would affect the block of land.Soon after purchasing the Parramatta council widened the road making the block smaller .shaddock could  not develop the land as planned because the block had become smaller .if they sold the land shaddock would lose the money because the value had dropped If someone gives information that they know will be relied upon and it is reasonable for others to rely upon it then there is duty to take reasonable care that the information is correct The advisor owed the plaintiff a duty of care in the case of shaddock associate v Parramatta city council5.0 Sufficient connection in lawThe plaintiff mus t prove that there was sufficient connection in law between the injury and the conduct. To satisfy this plaintiff must show that the breach actually caused the injury suffered which was due to reasonably foreseeable consequences’ of the breach. Sufficient connection in law has two components Causation -the defendant acts caused the plaintiff injury or loses Remoteness –if the defendant’s conducts did cause damage to the plaintiff is the defendant liable for the damage suffered by the plaintiff resulting from his negligence conductThe plaintiff must suffer actual damage recognized in law .the injury suffered by the plaintiff may fall in one of this classification personal physical injury loss of eye in mechanical injury, loss of hand in construction injury Property damage –involve actual physical damage to property Monetary or financial lose –involve lose of moneyLoses of wages5.1 Causation We ask the question on a balance of probability. Did the de fendant cause the plaintiff injury or lose? And to answer this we have some case test that we use5.1.1 But for test The but for test formulated by lord denning in cork v Kirby MacLean is useful for determining causation although it has limitations If you say damage would not have happened but for a particular fault then that fault is in fact a cause of the damage, but if you say the damage would have happened just the same fault or not, then the fault is not the cause of the damage when this happens you find both parties say but for your a fault it would not have happened but it’s both faults are the cause.In other words if the damage would not have happened without a particular fault then that  fault was the cause .the damage would have happened just the same way with or without the fault then the fault was not the cause (cork v Kirby Maclean ltd) The but for test to have some limitation for example say A and B light a fire independently each other in different places and meet up and burns down some house. Under the but for test neither B nor A is reliable as the house would still have burned by the other fire if he hadn’t lit a fire however in particular both would be held equally liable5.1.2 The common sense testThe high court has expressed dissatisfaction with the† but for test† and its limitation .pentony graw, lennard and parker (2003,p. 386) a preferred approach is to ask on the balance of probability the defendants acts or omission caused or materially contributed to the plaintiff loss damage or injury. The common sense test ask a question of fact (March v stramare (E&MH) pty ltd (1991)171CLR 506)5.1.3 Novus actus intervenesCertain activities or action may happen to prevent or break a chain of events or procedures and render the defendant not liable for particular losses suffered by the plaintiff. Consider an employee injured at work due negligence of his employer. they are been rushed to the hospital and the car he is in is involved in another accident causing further injuries to the patient .is the employer liable for this other accident suffered? Under this act it intervenes and rules that perhaps it carelessness of the other road users so the employer is not the cause and is not liable (knightly v johns {1982})5.2 REMOTNESSIn remoteness we look at the amount of damages the defendant is liable for. The defendant is not necessary liable for all the damages cause as the law must draw the line somewhere. In the case of wagon mound the defendant is not liable only for the kind of damage that were reasonably foreseeable that is damage suffered was not too remote. Example the defendant carelessly places a wooden plank which falls into a plaintiff ship hold and to unknown in both parties is full of vapors. The falling plank strikes and ignites the vapors with serious damages results with remoteness the defendant was not able to foresee that so the defendant is only liable for those type or kind  of injur y that are necessary foreseeable5.2.1 TEST OF REASONABLE FORESEEBILITYClearly personal injury or physical damages to property from impact are the kind or type of injury are reasonably foreseeable as the results of being hit by the plank, whilst an explosion is arguably to farfetched to be reasonably foreseeable .however if the defendant had known that the hold was full of vapor then the explosion may then be seen as reasonably foreseeable as a consequence of the plank5.2.2 EGG SHELL SKULL RULEEgg shell skull rule qualifies remoteness the issue of reasonable foreseebility in relation to personal injury .once the type of damage that is reasonably foreseeable is personal injury then the defendant is liable for all of that kind of injury actually suffered that s why the rule says that you must take you victim as you find him (egg shell skull rule )hence once some personal injury is reasonable foreseeable example if a person has some heart problem the you tell him to go and work in place where his heart will be affected and he collapses the egg shell rule applies (smith v leech brain &co ltd {1962})6.0 SIGNIFICANCE OF THE ESSENTIAL ON DEFENDANT LIABILITYThe requirement that a plaintiff establish that a duty is owed by the defendant places a limit on the situation in which liability can arise in the first place . once the existence of duty care and its breach has been established , the requirement the plaintiff damages actually suffered not be too remote (that is reasonably foreseeable )place a limit on the extent of the defendant s liability .that is a duty of care limits when liability can rise in the first place ,and once establish ,remoteness limits its extent6.1 DAMAGESDefinition Damages is the sum of money payable by a defendant found the main purpose of an award of damage is fair compensation rather than punishment or retribution loss means the damage or loss suffered and can be in personal  property or pure economic terms damage is the sum of money awarded for loss or damage suffered 6.2CLASSIFICATION OF LOSSLosses for damage are awarded in negligence fall into two categories pecuniary And non pecuniary   Pecuniary loss is defined as loss which can be valued or determined by monetary value an award of damage for pecuniary loss aims to return the plaintiff as close as possible to the position he would have been in had the injury not occurred Non pecuniary – is defined as loss which is difficult to asses or determine precisely in money term. Award of damage for non pecuniary loss aim to compensate the plaintiff for their pain and suffering loss of amenity, expectation of life and so on as a result of the injury7.0ConclusionIn negligence we have to proof that duty off care was owed to the plaintiff by the defendant so that we can have been able to connect it with the law. If no duty of care is owed the plaintiff clam must fail. The judge has the responsibility to decide whether or not duty of care exists. If there are clear fac ts about it then duty of care is owed to the plaintiff. After establishing duty of care was owed the plaintiff must show that there was sufficient connection in law between the injury and the conduct to satisfy this the plaintiff must show that the breach actually caused the injury suffered which was type was a reasonable foreseeable

Alexander the Greats Impact on the World Essays - 1339 Words

Alexander the Great is without doubt one of the greatest military leaders of history. Not only did Alexander of Macedon conquer enormous areas of the known world but also he demonstrated dynamic leadership and masterful strategy on a large scale and tactics on the battlefield. During his life, he ruled the largest empire the world had ever seen, which stretched from ancient Greece to India. The son of King Phillip II of Macedon, Alexander was educated by the philosopher Aristotle and first led Macedonian troops at age 18. Many times Alexander was worshipped as a god in some of the countries he ruled. He had a huge impact on world history spreading the seeds of western culture and philosophy across the world and has legends and stories†¦show more content†¦The men in his army, families, historians, philosophers, poets, scientists and others traveling with Alexander carried their Western customs with them and he made sure to place Greek and Macedonian people in charge of his c onquests along the way. As a result, Western culture mixed with Eastern culture to create a new culture throughout Alexander’s Empire. Many people fail to realize that Alexander has had a definite affect on us today, although not as great as he would have had on people of the past. In most parts the world today, Alexander The Great is considered a legend; however, in some places, Alexander is considered a god. One of the most notable people in history, Alexander has reached an iconic status in our world today. He possibly may have even been referred to in the Quran (Surah 18:89-98). There are still many stories told about him including folktales, and movies. In modern Iran, Alexander is still known as an evil king who nearly destroyed the ancient Persian culture and religion. Although the effect of â€Å"Alexander Mania† has died down since the time of his reign, you can still see the mark that he has left on today’s world. One particular side effect that Alexanders conquests inspired admiration in the military leaders that followed after him, though he may have also made them feel a bit of status anxiety. Scipio Africanus, and hisShow MoreRelatedWhat Was The Importance Of Charlemagnes Imperial Coronation?1735 Words   |  7 Pagesotherwise known as Charles The Great had a tremendous impact on Western Europe during the early middle ages. Charles the Great enquired many tittles while alive such as King of the Franks from 768, King of the Lombards from 774, and Holly Roman Emperor from 800 (Latowsky, 2013). 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