Principles of Economics Essay Example | Topics and Well Written Essays - 1000 words - 2

Principles of Economics - Essay Example There are economics variables and principals of solving the problem of alcohol abuse. First, by increasing the prices of alcohol, the authority will require that the goods will not be easily affordable, and it would require people to stop in order to afford it. The government would be required to accumulate tax on a product that is used in fermentation or to increase the tax of finished products. Increase in tax will force producers raise the prices of alcohol. Lastly, economist suggests that by limiting the place and time used in taking alcohol can minimize the cases of alcohol abuse. Authorities in many countries have passed legislation that increases the time costs used in taking beverages. High costs licences are levied to those that require more time to develop their businesses and also restricting certain area by increasing the cost of doing business (Cook, 2002). Alcohol abuse can also be mitigated through packaging. The government through legislation can control the least amo unt of alcohol that can be packaged in a container. The aim of control is to minimize the affordability of beverages. Large amount of alcohol would be more expensive than when packaged in smaller packets (Cook, 2002). Question 2 Prescription drugs are those drugs that require a prescription from a doctor before one can use them. This problem has affected the free flow of drugs, therefore, affects the supply and demand of other goods. Prescriptions drugs are taken with other goods. Example, doctors prescribe drugs and encourage meals that increase the health of patients to help them recover from their ailments. Therefore, prescription drugs complement other product like food, fruits and beverages. Increased use of prescribed medication increases the demand for food, fruit and beverages and reduction of the same reduced the need of food, fruits and beverages (Anderton, 1977). Prescription drugs change the demand and supply of other drugs. Patient who would rather buy drugs over the co unter do not do so when they seek medication from doctors. Therefore, increase in prescription drugs reduces the provision of other drugs in the market. Prescription drugs increases the demand for medical service. Specialized medical doctors earn a lot when more patients seek their services. As more and more cases that need patient to seek medical attention, the demand for those services increases. However, decrease in the supply of prescription drugs has a negative impact on doctor’s services. Question 3 Elasticity is the sensitivity of supply and demand to changes in the affecting factors. Elasticity can also be defined as the degree of variation of demand when price change or the amount of change in supply when price changes. Elasticity is a key factor to consider when there is a shift in supply because it determines the degree of a change in the quantity supplied. Elastic demand curve has little effect when there is a shift in the supply curve. Inelastic demand curve has a large magnitude on the shift in the supply curve (Stonebraker, 2013). On the other hand, elasticity of supply is a factor to consider in the shift of the demand curve because it elasticity help determine the extent of the quantity demanded in a given time. A shift in the supply curve when is less when the demand curve is relatively elastic. Inelastic demand curve has a significant change in the quantity demanded in case of a shift in demand curve. The principal of elasticity of demand and supply in the shift of

Research Guide Essay Example | Topics and Well Written Essays - 500 words

Research Guide - Essay Example It also aims to publish original and definitive research papers, in which the emphasis is placed on new engineering construction and design developments. The Institution of Civil Engineers’ website https://www.ice.org.uk/ provides student career advice, conference lists, and useful source references for civil engineering aspects. Another relevant website is http://www.icivilengineer.com/, which provides numerous links to hand-picked websites containing information on civil and structural engineering and technology. A third website is http://www.cif.org/, which is managed by the Construction Innovation Forum that seeks to recognize construction industry innovations that improve cost effectiveness, efficiency, and quality of structures and constructions. Finally, the American Society of Civil Engineers runs the http://www.asce.org/ website that has a membership of almost 150,000 in more than 140 countries. This website provides access to journals, magazines, papers, and books related to civil and structural engineering. Lignos, D. G., Hikino, T., Matsuoka, Y., & Nakashima, M. (2012). Collapse assessment of steel moment frames based on E-Defense full-scale shake table collapse tests. Journal of Structural Engineering, 139(1), 120-132 Lignos et al (2012) set out to investigate the critical parameters that influence steel frame structure numerical modeling for reliable simulations of structure collapse. The authors base their collapse evaluations on experimental data from a four-story steel moment frame full-scale shaking table collapse test, as well as a parallel blind numerical analysis contest. They find that prediction of sideways collapse mechanism for regular plan view buildings using 3D and 2D analyses has no clear advantage. They specifically note that a combination of local buckling delays in first story columns and increased bending strength is effective in enhancing

Managing Innovation by Cross-Functional Teams Research Proposal - 1

Managing Innovation by Cross-Functional Teams - Research Proposal Example Corporate strategy in effect maps out the businesses in which an organisation intends to compete in a way that focuses resources to convert distinctive capabilities into competitive advantage. (Andrews, 1997). In this vein, managing a cross-functional team requires considerable skills as effective teamwork is seldom an automatic process. Organizational change or change in general can be defined from a variety of points depending on the perception of the user. An individual or employee in an organization may look at a new post or position as a change while higher management may feel it is unimportant. (Cao et al, 2000, p187). Changes viewed also by management may also not be looked upon as change by outsiders like competitors or suppliers. This has led to the categorizing of change in various ways, some of which include strategic and non-strategic change, incremental and radical change, changes of identity, co-ordination and control, planned and emergent change, change in terms of scale, human-centered change in terms of individual, group and inter-group or organizational level, quantum change and so on. (Cao et al, 2000, p187; Todnem, 2005, p372). Innovation is a management change process. There is a growing number of existing literatures on value drivers, core competences, and success factors in an organisation. E.g. Sim & Ali (1998) compared the attributes and performance of firms from developed countries with those from developing countries within the same industry, Park & Russo (1996) focus on the differential impact of firm’s size to its success and parents shareholders value, Hagan (1998) and Prahalad & Hamel (1990) focus on the core competence of an organisation however, none of these studies has addressed the qualities and salient features with respect to a particular organisation. Under today’s fierce competition it has become increasingly necessary to probe

Film critique Essay Example | Topics and Well Written Essays - 750 words

Film critique - Essay Example It also highlights the decisions and activities that characterized the Bush administration after the September 11 incident. According to Michael Moore, the Bush administration used the tragic September 11 incident as an excuse to engage in unjust wars in Afghanistan and Iraq (Moore, 2004). The plot of the documentary revolves around the September 11 incident. This is a critical account in the history of the United States. Michael Moore pursues a very critical topic and issue in this film, expressing social, economic and political concerns that surrounded United States after the terrorist attack. This means that Fahrenheit 9/11 (2004) is centrally located in the heart of American people, thereby being likely to capture massive audience. Michael Moore successfully establishes a strong audience base by pursuing an issue that many just took as terrorist attack. To Moore, the aftermath of the attack took a new perspective that laid ground for unjust practices by Bush and his administratio n. Michael Moore’s analysis of what happened after the September 11 incident leaves so much to be desired. For this reason, the setting of the film is critically positioned. The film was produced three years after the attacks, a time when wounds were still fresh in the minds of many and the political debate of the incident was still exacerbating. This timing on this film is perfect, given that all aspects of the American life had been affected by the incident. The highlighted interviews, and the collected views and opinions of the American people show that different people had different understanding of the events that followed the attacks. In this regard, Michael Moore gets those who argue alongside his claims, as well those who dispute the claims outlined in the film. This film is, therefore, two-sided, meaning that it encompasses both propositions and oppositions to the issues raised. In other words, the tragic events that befell United States in September 11 are clearly o utlined before Moore expresses his view on the matter. After these events are highlighted, a critical evaluation of the matter is done. In so doing, the American society has wholly associated itself with part of the film in one way or another, whether they agree or disagree with Moore’s views. While Moore has successfully tried to account for what happened after the September 11 terrorist attacks, some of his views are exaggerated. While his allegations against the Bush administration are true, some of them are way too much personal. The fact that United States is the world’s superpower gives it a significant reason to engage in war at it deems necessary. Moore disputes the Bush administration’s reason to engage Afghanistan and Iraq in war, terming the action unjust (Moore, 2004). However, Osama and his terrorist group Al Qaeda admitted to carrying out the attacks. This was not the first time that Osama and his team had engaged in terrorism. Other states around the world had also experienced terrorist attacks before United States did. Even if United States could not have engaged wars in Afghanistan and Iraq on her behalf, it was right to do so, on behalf of the weaker world communities that had previously been targeted by terrorist groups. Michael Moore wrote the script to the film, and subsequently directed it. He, therefore, delivers a quality film in

Advanced Marine Design Coursework Example | Topics and Well Written Essays - 750 words

Advanced Marine Design - Coursework Example Substantial modifications have been installed in the design to include the hull form characteristics and standard dimensions to iterate certain design arrangements. This marine craft is a high-speed aluminum planing hull with similar screw diesel thrust and heavy buildup. The key facets that have been well-thought-out in the designing procedure of the craft include the effects, needs, dimensional ratios, form features, resistance, propulsion and strength of the ship and its outline (Mizine, Brenner and Harries, 2011, p. 1). Corresponding dimensional ratios I. Influences Increasing anxiety over the creation of the general design of the marine craft, its incorporation, with production, sustenance and renovation has created specific attention (Mizine, Brenner and Harries, 2011, p. 1). This focus influences the functions and needs of automatic designs and production, and the application of information technology aspects. Initiation of computerized instruments has made this design employ the attempt of enhancing the design guidelines with the aim of advancing the performance and security of the ship and its structures. The depiction of the hull configurations for such a high-speed marine crafts is the most significant aspect that greatly influences all stages of the design project (Mizine, Brenner and Harries, 2011, p. 1)... This mainly applies for traditional marine crafts that make this design appear and perform as a modern and improved structure of traveling and warring purposes (Mizine, Brenner and Harries, 2011, p. 2). III. Principle dimensional ratios The accompanying dimensional ratios have been recognized with a program that gets a grip of the function played by the three-dimensional computer displaying in current ship design exercise. This exercise involves training in numerous current utilized three-dimensional project apparatuses like the current design (Mizine, Brenner and Harries, 2011, p. 2). To get to the opening principle features of the ship’s design structure, a database of similar vessels were covered. To commence the design, it was already established that planing hulls need a coefficient of velocity (CV) of 2, Savitsky, operating under the theory of Hydrodynamic Design of Planing Hulls. The marine technology used in this design also employs a cruising velocity that is supposed to be approximately 30 knots. Using these values and the theory that establishes Savitsky’s equation: CV = V/ (g*B).5 A distance of 20 feet was initiated for the marine craft’s beam. Afterwards, the equation was deployed to control this measurement: L = 9.8489*B –91.585 = 105 feet Knowing the length, the relationship shown in the design was used to realize the displacement: ? = 2.2244*L –120.01 = 113.55 LT Lastly, from the calculation, a value for the current was realized: ? = 56.857*T – 253.56 T = 5.5 feet Consequently, preliminary principal dimensions were as follows: L = 105 feet B = 20 feet T = 5.5 feet IV. Form characteristics on stability Certain incorporation techniques, Bonjean curves, dampened exteriors and

Ethics of Child Labor Essay Example for Free

Ethics of Child Labor Essay Ethics of Child Labor I. Intro A. During the nineteenth and early twentieth century child labor was a rampant problem with the advancements in technology. Then during the mid twentieth century, the United States started implementing child labor laws such as setting an age limit for somebody to work for pay and also setting certain health and safety codes at the work place. Despite efforts to prevent child labor, it is still prevalent in some areas in the world today. Most of these children work on small farms. II. Is Child Labor right or wrong? A. Pros: i. Human Rights Watch says that child farm workers in the United States- the vast majority of whom are Latino- regularly work 12 to 14 hour days, often suffering pesticide poisonings, heat-related illness, machine and knife-related injuries, and life-long disabilities. Many are forced to work without access to toilet or hand-washing facilities or adequate drinking water. (Cray 4) i. Helps support a struggling family financially ii. Child labor has a place in the world economy as long as it is neither hazardous or dead-end work, where the child laborers can still get an education and thereby help their families out of poverty since an education will ensure better paying jobs in the long run. iii. Work alongside their parents is both a financial necessity, and also part of the ethnic family work ethic. B. Cons: i. Illnesses, injury, lifelong disabilities. ii. The associative qualities of child labor is it produces a negative image of the associated company, country, family that enforces it. iii. Emotional distress is put on that child for life III. Jeremy Bentham A. Ethical System including the influence of Theology 1. Moral Aspects of Awareness: i. Finitude-â€Å"capacity of transcendence which gives humans the ability to imagine their own end†(Schaffer 66). ii. Incompleteness-â€Å"Comes from a sense of transcendence- we are able to imagine states which we can never quite achieve. This is about the individual†(Schaffer 66). 2. Beliefs about Right and Wrong i. Hedonic calculas:â€Å"According to this doctrine, the way to judge between alternative courses of action is to consider the consequences of each, in terms of the pleasure and pain of all the people affected†(Mills 281) 3. Definition of Good i. â€Å"Utilitarianism presupposes one overriding moral principle: that one ought to aim at the greatest happiness of the greatest number. â€Å"(Mills 280) ii. Bentham thought what was good was whatever gave the most amount of pleasure to the most amount of people iii. Subjective Theory of Value-â€Å"How I feel, not a matter of right or wrong, knowledge not needed. â€Å"(Schaffer 73) 4. Obligations i. â€Å"If the central question of political philosophy is taken to be: â€Å"Why, if at all, should the citizen obey the state? The utilitarian answer is quite clear. The citizen should obey just so far as obedience ill contribute more to the general happiness than disobedience. If the central question is taken to be the nature and ontological status of the state, the answer is equally clear: the state is not a super-entity with purposes and a will of its own, but a human contrivance to enable men to realize as many of their desires as possible. â€Å"(Mills 281) ii. Explanation: Bentham believes it is the obligations of the state to provide the people basic pleasures and if the state is doing that then the people should comply with some of the states’ demands and if that is not the case then the people don’t have listen to the state. 5. Ideals and Virtues i. â€Å"It is as the exponent of utilitarianism and as the acknowledged leader of the philosophical radicals, whose program of social reform was firmly based on utilitarian theory, that Bentham is chiefly remembered. He thought of the principle of utility as primarily a guide for legislators. Thought it he hoped to impart some order into chaos and illogic of the law†(Mills 281) ii. â€Å"Perhaps the crucial question for a utilitarian ethic intended mainly for lawyers and legislators is whether it can account adequately for justices. It may be argued that justice requires the equalization as well as the maximization of pleasures. It is not unjust to require me to endure five units of pain on Monday for the sake of ten units of pleasure on Tuesday. But is it just to require Smith to endure five units of pain for the sake of ten units of pleasure for Jones? It is doubtful whether Bentham can meet this objection. He does, however argue that the maximization of pleasure will itself involve an equalizing tendency. This is because the economist’s law of diminishing utility applies to pleasure. The minor amenities of life afford much pleasure to someone whose other pleasures are few, but comparatively little to someone whose pleasures are many. Consequently, while it is true that a utilitarian, forced to choose between a course of action that gives X and Y 10 units of pleasure each and one that gives X 31 units of pleasure and Y 10 units of pain, will prefer the second, it is also true that such choices are most likely to arise when X’s life is as a general rue more painful than Y’s†(Mills 283) iii. Sincerity-free from pretense or deceit, proceeding from genuine feelings (Oxford American Dictionaries) iv. Tranquility-quality or state of being tranquil;calmness;peacefulness;quiet;serenity(Dictionary. com) 6. Culpability/Consequence i. â€Å"In Bentham’s view, our conviction that it is unjust to punish an innocent man is based on nothing but the empirical consideration that punishing the innocent is not likely to deter others from crime. This is, however, not always true: the innocent man may be a hostage, or he may be generally thought to be guilty. †(Mills 283-284) ii. Consenquence:â€Å"a conclusion derived through logic, something produced by a cause or necessarily following from a set of conditions. † (Merriam Webster Dictionary) B. How Bentham would address Child Labor i. If Bentham were assessing the issue of child Labor he would probably take into account the pleasure and pain involving the children and the employers. From the employers point of view their getting workers working for lower pay and also more capability of certain tasks rather than adults. From the children point of view, Bentham would see that it would be a advantage for a struggling family for their children to work to help put food on the table also it could help inspire a stronger work ethic for the children. Then when calculating the pain involved, that would be attributed to possible injuries and diseases the child might get and also the trauma inflicted upon the child and family. Bentham would also recognize the outrage of other countries around the world that condemn child labor as a legal practice. Using hedonic calculus, Bentham would determine if this right or wrong and taking account of all the pleasure and pain involved he would probably come with the conclusion that Child Labor is wrong. IV. Aristotle A. Ethical system including the influence of theology 1. Moral aspect of awareness i. Unfinished-â€Å"Seeking the Other half-we have to drive to discover otherness through poetry, literature, movies, etc; profound desire to be in relation/community Philosophical Religious Understandings-in complete (dream) Aristotle, long for innocence Augustine†(Schaffer 66). ii. Explanation: Aristotle thought that to reach a higher level of being we must engage ourselves in the field of arts to reach the other half of our self 2. Beliefs about right or wrong i. Aristotle believed good was something that brought you happiness or fulfills your desires. ii. Aristotle also believed if you don’t overly indulge yourself in your desires then it would be considered ethical but if you indulge in excess then it would be unethical 3. Ideals and Virtues i. Temprance:†The Greek philosopher Socrates considered temperance to be almost synonymous with self-mastery. The temperate person, he argued, is the one who exercises control over his or her desires and thereby escapes domination by them. Aristotle took a similar view, holding self-indulgence to be childish. For these philosophers, and for many of the ethicists that followed them, the hallmarks of temperance are moderation and restraint of one’s desires and passions. †(Ruggiero 112) ii. Prudence:† This virtue known also as practical wisdom, consists of choosing one’s behavior judiciously by consulting experience and deliberating thoughtfully about what response is most appropriate. Prudence is the exact opposite of rashness and impulsiveness. †(Ruggiero 111-112) 4. Definition of Good i. Subjective theory of Value: â€Å"How I feel =not a matter of right or wrong; knowledge not needed†(Schaffer 73) ii. Aristotle thought whatever was good was whatever fulfilled your desires or made you happy 5. Obligations i. Obligations of friendship:â€Å"Friendship entails mutual respect and a special interest in the other’s well being. It requires one to rejoice at the other’s success and good fortune and to share the pain of the other’s disappointment and failure. It also requires on to be trust-worthy about confidences, to provide emotional support when it is needed, and to restrain the urge to be critical in small matters. †(Ruggiero 100) ii. Obligations of friendship:â€Å"Citizenship obligates a person to promote the well-being of the country and fellow citizens by respecting and observing the law and respecting the legitimate initiatives of the country’s leaders, even if one disagrees with their political perspective. In a democracy, it also requires participation in the electoral process. When the country is unjustly attacked, it is also a citizen’s responsibility, conscience permitting, to support the country’s response and even, if one is young and healthy enough, to play an active role in the country’s defense. † (Ruggiero 100) 6. Culpability/Consequence i. Consenquence:â€Å"a conclusion derived through logic, something produced by a cause or necessarily following from a set of conditions. † (Merriam Webster Dictionary) B. How Aristotle would approach Child Labor i. Aristotle would approach Child from a subjective theory of value and determine if it was right or wrong depending on the situation. For example if the family of the child is in desperate for money then he would consider it ethical for child to work. But if the child is suffering from the work then Aristotle would then consider it unethical. VI. My ethical system A. Ethical System Including the Influence of Theology 1. Moral Aspect of Awareness i. Incompleteness: â€Å"Comes from a sense of transcendence-we are able t imagine states which we can never quite achieve. We have a desire to have a complete awareness of our incompleteness† (Schaffer 66). ii. Unfinished-â€Å"Seeking the Other half-we have to drive to discover otherness through poetry, literature, movies, etc; profound desire to be in relation/community Philosophical Religious Understandings-in complete (dream) Aristotle, long for innocence Augustine†(Schaffer 66). 2. 3. Beliefs about right and wrong i. Believe you should do whatever gives you most amount of satisfaction and security. 4. Definition of Good i. Subjective Theory of Value: â€Å"Subjective theory of Value: â€Å"How I feel =not a matter of right or 5. Ideals and Virtues i. i. Justice-â€Å"Evaluation of situations according to their merits, without prejudice, and giving each person his or her due†(Ruggiero 102) ii. tranquility: quality or state of being tranquil;calmness;peacefulness;quiet;serenity iii. Temprance:†The Greek philosopher Socrates considered temperance to be almost synonymous with self-mastery. The temperate person, he argued, is the one who exercises control over his or her desires and thereby escapes domination by them. Aristotle took a similar view, holding self-indulgence to be childish. For these philosophers, and for many of the ethicists that followed them, the hallmarks of temperance are moderation and restraint of one’s desires and passions. †(Ruggiero 112) iv. Prudence:† This virtue known also as practical wisdom, consists of choosing one’s behavior judiciously by consulting experience and deliberating thoughtfully about what response is most appropriate. Prudence is the exact opposite of rashness and impulsiveness. †(Ruggiero 111-112) 6. Obligations i. Obligations of friendship:â€Å"Friendship entails mutual respect and a special interest in the other’s well being. It requires one to rejoice at the other’s success and good fortune and to share the pain of the other’s disappointment and failure. It also requires on to be trust-worthy about confidences, to provide emotional support when it is needed, and to restrain the urge to be critical in small matters. †(Ruggiero 100) ii. Obligations of friendship:â€Å"Citizenship obligates a person to promote the well-being of the country and fellow citizens by respecting and observing the law and respecting the legitimate initiatives of the country’s leaders, even if one disagrees with their political perspective. In a democracy, it also requires participation in the electoral process. When the country is unjustly attacked, it is also a citizen’s responsibility, conscience permitting, to support the country’s response and even, if one is young and healthy enough, to play an active role in the country’s defense. † (Ruggiero 100) 7. Culpability/Consequence ii. i. Consenquence:â€Å"a conclusion derived through logic, something produced by a cause or necessarily following from a set of conditions. † (Merriam Webster Dictionary) 8. Ethical influences i. Parents: My parents have instilled a strong ethical foundation for life. Since I was little kid, they have taught the importance of kindness and honesty. ii. Coaches: I have played sports my entire life and it has been a major influence in shaping my character. Sports have helped keep me disciplined and how to stay cool under pressure, and not letting my emotions control my actions. 9. My tradition i. â€Å"Natural Law-(def) the view that there is an unchanging normative order that is a part of the natural world†(Schaffer 83) ii. â€Å"One way to provide criteria of judgment on major issues, examine natural law (in relation to divine law) and human law to show the way in which they complement each other. † (Schaffer 83) iii. â€Å"Orders of Creation- (def): a hierarchy is given in creation which reveals obligation, responsibility and offer criteria for morality† (Schaffer 84) B. How I would address Child Labor i. I believe child labor is an unethical practice. It puts way too emotional distress and also physical injuries to be justified. The only positive I can see coming from child labor is the money that child would bring in. Conclusion A. Child labor is not as pressing as an issue as it used to be but still practiced around some parts in the world. I believe Bentham and Aristotle would both disapprove of child labor based on their idea that the basic goal in life is too find happiness and satisfy your desires which labor does not serve.

Economic Trade Blocs

Economic Trade Blocs There has been a considerable development in regional economic integration schemes designed to achieve various economic, social and political purposes. Most countries in the world are members of one or more trade blocs known as regional integration agreement/arrangement (RIA). There has been a worldwide trend towards forming new regional arrangements and strengthening the existing ones. Inspired by the European Economic Country (EEC), now more popularly known as the European Union (EU) several regional integration schemes have been formed by the developing countries, particularly in Latin America and Africa. One more regional integration, that comes close to the EU in its boldness or its potential implications for the world economy is NAFTA (Cherunilam, 2005). Barriers to Trade in Selected European Union NAFTA A trade barrier is a common term that explains any regime policy or instruction that confines international trade. It can take many shapes, including: import duties, import licenses, export licenses, import allowance, taxes, subsidies, non-tariff barriers to trade, local substance necessities. Most of the trade barriers work on the similar principle i.e. the obligation of some kind of cost on trade that lifts the price of the traded products. Other trade barriers comprise of differences in culture, traditions, society, laws, language and exchange. Following are the trade barriers for identified trading blocs like European Union NAFTA: Customs duties among member states. Obstacles to the free course of import and/or export of goods and services among the member nations. Industrial/commercial policies concerning different countries. Barriers on movement of capital and people within the block. Common farming policies, transfer policies, scientific standards, fitness and wellbeing rule. Boundary control between different countries. Different internal taxation systems. Legal structures for business. Controls on movement of capital between the member countries. Protectionist community procurement policies. Advantages Disadvantages of being a Member Advantages: Friendship, cooperation among member countries strengthens. General state of member countries increases. It gives freedom to travel between member countries by simplifying visa regulations. A single economic space is created for member countries where they use common currency. Safety improves for member country. Trade relations strengthen, commodity circulation grows and trade improves in general for the member country. Disadvantages: National traditions and distinctive traits are lost by the member countries. Deflationary propensity increases between the member countries. Loss of power by the member country. Over estimation of trade benefits (Advantages and Disadvantages, 2008). Membership Conditions for European Union If a country wants to join the EU, it must value the doctrine and ideals upon which the EU is established. According to the treaties, contender countries must value the principles set out in agreements of European Union earlier than they can join the EU. Agreements affirm that The Union is based on the ideology of liberation, democratic system, respect for human rights ideologies which are ordinary to the Member States. Following are some principles which are required to be achieved by the country which wants to become a member of the EU: Political Principle: Country should be stable in providing definite democracy, the decree of law, human rights and admiration for and safety of minorities. Financial Principle: The survival of a running market economy as well as the ability to deal with aggressive force and market forces inside the Union is necessary for the member country. Institutional Principle: The country should have the capability to take on the compulsions of association, which contain the goals of political, economic and economic union (Conditions of Membership, 2005). Conditions for Membership Achieving membership in NAFTA is not an easy task. Membership to NAFTA would require discussions for membership in the World Trade Organization (WTO) which takes a great deal of time because many countries are standing in line for this membership. Member country needs to negotiate different deals with dozens of WTO member countries and G-7 countries (Entering NAFTA: the twists and turns of negotiations, 1995). Impact on the Bilateral or Multilateral Relations By joining the European Union and other trading blocs like NAFTA, United States will become the member of these Unions. These membership conditions for the selected regional trading blocs will help in determining the positive and negative impact on the bilateral or multilateral relations with the United States. These impacts are given as under: Positive Impacts: U.S will attain significant achievements in economic reform. EU and NAFTA will present a large and open market for the U.S. Member States of the trading blocs will be able to socialize freely all over the twenty-five countries. US exporters will enjoy lower tariff rates in their deal among the new Member states. The present system in which US exporters are confronted with a range of import rules will depart. US industry, investors and exporters will be benefited from these trade blocs in their deals with others (Bilateral agreements and fair trade practices, 2007). Negative Impacts: The bilateral investment agreements accomplished among new Member States and the US will require proper alteration in order to make certain that US investors enjoy similar investment surroundings. Existing import quotas maintained by the EU and NAFTA will require modifications to take in consideration trade flows between the new Member States and other countries. The present EU tariffs levels will also be applicable to new Member States like the U.S (Burghardt, 2004). Cost of Compliance and Non-Compliance In the EU Treaty, the basic underlying principle is the loyalty of the Member States to the community through quick compliance with its systems. This guideline states that Member States can take measures to ensure completion of the obligations arising out of this treaty. The countries can also assist in the fulfillment of the community tasks. Further, they shall desist from any actions which could put in danger the accomplishment of the objectives of this agreement. Broadly, this issue of compliance has many features: Legal, Political, Institutional, Economic. There can be a possibility that member states may fail to act in accordance with this agreement. The reason can be unwillingness and unawareness of the compulsions. The compliance costs are higher comparatively in those countries which have at least one subsidiary than with those which have no subsidiaries. The increase in the compliance costs can be seen when there is an increase in the member of subsidiaries in foreign country. For large corporations, total weighted cost of compliance is approximately 1.460.000 and for medium size companies it is 203.000. Impact of Trade Transactions There are potential gains for member non member countries and trade blocs from economic integration which are as follows: Trade Creation: Whenever trade barriers between countries are removed, industries in respective countries will concentrate on the most efficient use of resources and produce those goods that they are most efficient at producing. All participants will gain from this kind of trade practice. Trade Diversion: It occurs when trade is diverted from countries outside the trading area to the countries located inside it. Prices and Competition: The removal of trade barriers has both consumption and production effects for member and non member countries. Economies of Scale: Many industries, such as steel and automobiles, require large-scale production in order to obtain economies of scale in manufacturing. Formation of trading blocks enlarges the market so that the large scale production is justified. Dynamic Effects: The dynamic effect of integration is that it brings about a more efficient allocation of resources throughout the different trading blocks promoting the growth of some businesses and the decline of others, the development of new technology and products and the elimination of old processes. Restructuring: This process is creating a large scale restructuring of industries and firms, with the relocation of industry and many cross border mergers alliances. All the impacts of trade transactions show that this will be helpful for the expansion of project. These trading blocs will have a positive impact on expansion as these agreements will offer measures for protection. Under these measures, any product which is the subject of preferential treatment is imported into the territory of a contracting party in such a manner or in such quantities as to cause or threaten to cause serious injury in the importing country (Hill, 2005). Conclusion Based on this analysis the regional trading bloc which can be selected is European Union which is also known as the European Community and the European Common Market. This agreement eliminates tariffs, quotas and other barriers on intra community trade which is necessary for expanding a project. This trading bloc devises a common internal tariff on imports from the rest of the world and permits the free flow of factors of production within the community. It helps in harmonizing taxation monetary policies and social security policies between member and non member countries. It presents a common policy on agriculture, transport and competition in the industry (Cherunilam, 2005).