The main differences between poems are described by Metaphysical and Classical. :: English Literature

The main differences between poems are described by Metaphysical and Classical. The main differences between poems are described by Metaphysical and Classical. The most famous metaphysical poets would be John Dunn and Marvell, and then the most famous classical poets would be Marlowe and Johnson. Metaphysical being the more interesting makes use of arguments to persuade this can also be described as dialectic. Then Classical is more "Carpe Diem" (Seize the Day) being simpler and with all the verses being the same and in a Starvea (irregular) and an example of this is the poem To the Virgins, to Make Much of Time. The poem, To his coy mistress is very much Carpe Diem but the poet Andrew Marvell who wrote it was influenced by both Metaphysical and Classical types of poetry, the way in the beginning of the poem he seems to talk about things in a very slow way, walking, time slowing down to try to woe the women in a much quicker, the poem also shows a lot of Petrachan influences as when Andrew Marvell says 'Thine eyes, and on thy forehead gaze' and 'Thy beauty shall no more be found'. The poem is very much more in use of words that show the women in which the poem is talking about as being a goddess as I said earlier; this seems to play a large part in the poem. Another poem which is also very Carpe Diem is, to the virgins, to make much of time, this poem uses irregular (starvea) stress' and unstressed' words, but does have a regular amount of feet throughout the poem. The poem seems to be stating to a woman that she should not wait at all and get married in her youth when she still can, it is speaking as though the women has no other option than to get married in her youthful times. The writer, Robert Herrick, is using the sun also as a use of time saying to hurry before the sun sets and it will be too late for the sun and the women marrying times are gone. The poem The Flea is very different to the other two before, it is a metaphysical poem which is much more interesting, it uses a much more dialectic view of wooing a women. It uses the fact that as a flea has bitten both the poet and the women of whom he is in love with, that it means that there are three lives all together in one and that him and his love almost 'more than maryed are'.

Hamlet Act Iii Climax Essay

In The Tragedy of Hamlet, Prince of Denmark Shakespeare uses personification, allusion, and a rhetorical question to advocate that the climatic moment of Act III is when King Claudius admits to the murder of King Hamlet because, by definition, it is the act that turns the action of the scene around, leading toward an inevitable conclusion. Shakespeare uses personification when King Claudius says that â€Å"[his] offense is rank, it smells to heaven† (line 36). Claudius’ guilt of killing his very own brother, King Hamlet, is constantly on his conscious, which is why he gives the â€Å"offense† the trait of a rank smell, something whose presence is constant and putrid. The purpose of personifying Claudius’ â€Å"offense† to have a smell that reaches to heaven is because Claudius is aware that heaven is where King Hamlet’s spirit lies due to his own fault, and his admit to the murder will drive the scene to an inevitable conclusion because he has released key information to a driving mystery in the plot line. Shakespeare makes a biblical allusion to Abel and Cain in lines 37-38 of the play when Claudius says that his â€Å"offense [†¦] hath the primal eldest curse upon’t, / A brother’s murder! †. Shakespeare is atoning that murder is never outdated; no matter the era or the place, the murder of a brother by a brother is never acceptable in the eyes of society or God. This allusion purposefully informs us that King Claudius did kill his brother, King Hamlet, as a warning that falling action concerning Claudius’ unforgivable acts is to proceed. Claudius rhetorically asks, â€Å"O, what form of prayer / Can serve my turn? † (lines 51-52). Claudius’ asks this with the knowledge that there is no form of prayer that would serve his turn because his acts were unforgivable and he must face the consequences for them. Rhetorical questions are always immediately answered, whether directly or indirectly, and King Claudius’ question is consequently to be answered via the falling action that is to proceed after his soliloquy. In King Claudius’ soliloquy in Act III he admits to the murder of his own brother, the late King Hamlet, while also admitting that it is unforgivable, giving the act nowhere else to turn, but to conclusive consequences to King Claudius’ faulty actions.

Abortion Right Or Wrong - 985 Words

Abortion: Right or Wrong? The famous writer Larry Barretto said, Babies are bits of stardust blown from the hand of God.† Abortion takes away a baby’s life, which begins at conception. A fetus’s heart begins to beat in just the first few weeks of the pregnancy. Women can have an abortion up to 9 weeks into the pregnancy. At nine weeks, the infant can make a fist, and the head is almost half the size of the entire body. The baby begins to have buds for baby teeth to appear. Some women still have an abortion instead of choosing another option even when they know all the facts. Certain people believe that an unborn infant is not a human being. I believe that an innocent infant has equal rights to life, and abortion is morally wrong because it is murder. Abortion may be one of the most controversial topics in the world today. The choice of being pro-life or pro-choice is the decision. Yes, it is true that during the first weeks of a pregnancy the fetus can not exist outside the mother’s womb and it depends on her health for its health. This leads people to thinking that this makes the fetus none existing. Well I depended on my mother in the womb, and so has every other human being on the planet. Women that are not ready for a child should prevent unwanted pregnancy through responsible use of contraception’s .If that is not possible, they can choose to be abstinent. Then the issue of rape or incest comes in to the argument. When this happens to someone, the person may notShow MoreRelatedAbortion Is Wrong Or Right1575 Words   |  7 Pagesbeen an ongoing debate whether abortion is wrong or right. More specifically, the issue breaks down between an ethical and legal issue. Some pro-life people argue that an abortion is morally wrong and should be illegal. Others that are pro-choice argue that an abortion is a legal and bodily right. Whether an abortion is wrong or right, each side supports different arguments. Pro-life argues that abortions are immoral for many reasons despite a woman’s bodily rights and among them is the strongestRead MoreIs Abortion Right Or Wrong?924 Words   |  4 PagesCoombs Kendra Gallos English 3 Online December 8, 2014 Is Abortion Right or Wrong? Abortion, do you think it is right or wrong? When you hear the word abortion what do you think of? People, who think abortion is right, think it is right for many different reasons. Such as they believe that it is the woman’s body and feel as if they should be able to do whatever they want to with their body. Other people, people who think abortion is wrong feel as if it is murder, that if they do not want a childRead MoreIs Abortion Wrong or Right?988 Words   |  4 PagesENG 112-01   September 2, 2015   Is Abortion Wrong or  Right?   Abortion is defined as â€Å"The removal of an embryo or fetus from the uterus in order to end the pregnancy† (dictionary.com). However, if only the debate over the abortion issue was as easy as the definition listed above. However, similar to most things in life, a statement or opinion is never right nor wrong, but simply left open for clarification. Those who are against abortion believe that abortion is the murder of innocent human beingsRead MoreIs Abortion Right Or Wrong?953 Words   |  4 PagesThroughout time there is always going to be controversy whether abortion is right or wrong. Some people look at abortion as killing an innocent baby but I believe it is not doing any harm being that it is not developed and every situation is different. Abortion is not only for people who do not want to care or cannot care for a child and all points must be understood before making the decision. There are some things in life that are hard to comprehend and this topic is a major e vent in life thatRead MoreIs Abortion Right Or Wrong?1116 Words   |  5 PagesIs abortion right or wrong? This is a big topic in today’s society. Abortion is always brought up whether it’s religion, politics, or just in a regular conversation. Although, the question remains; is it right or is it wrong? There are many arguments about it. There are an abundant amount of people that argue with each other over this topic. These, however, are opinion-based arguments. There are many points and articles against abortion. There is also information about options for women who regretRead MoreAbortion : Is It Right Or Wrong?1924 Words   |  8 Pagesyears, abortion has become a live topic both at national and international levels, attracting great academic, legislative and judicial comments. Abortion is in many jurisdictions, a crime; though the sanctions for its violation differ. Its incidence in the world is increasing rather than decreasing. When it comes down to abortion t he major question comes up, is it right or wrong to kill the unborn fetus? I agree in some cases but I strongly disagree with the idea. By the 1900’s abortions were outlawedRead MoreIs Abortion Right or Wrong?1028 Words   |  5 Pagesprocess of having an abortion has been a controversial topic for many years. Even though an abortion is legal, Americans believe abortions are only morally correct when used for medical reasons. The word â€Å"abortion† can be defined various ways depending on a person’s perspective. Abortion is defined by Oxford as â€Å"the act of giving untimely birth to offspring, premature delivery, miscarriage; the procuring of premature delivery so as to destroy offspring† (Dionisio). The National Abortion Federation definesRead More abortion: right or wrong? Essay746 Words   |  3 Pageson weather abortion is right or wrong. It often becomes a controversy. One way of arguing it is with Kerby Anderson’s â€Å"A Biblical View of Abortion.† Another is with Richard J. Hardy’s â€Å"The Right to Choose.† And lastly is Rachel’s, an anon ymous writer from msngroups.com, â€Å"Abortion the Murder of Innocence.† Each of theses controversial articles are to objectively present different view or perspectives of abortion. nbsp;nbsp;nbsp;nbsp;nbsp;Kerby Anderson’s â€Å"A Biblical View of Abortion,† shows theRead MoreIs Abortion Morally Right or Wrong907 Words   |  4 PagesIs Abortion Morally Right or Wrong Kirstyn Fletcher PHI 103 Informal Logic Anthony Biduck October 26, 2011 What About it is Considered Moral or Unmoral? This subject is probably one of the top five most controversial subjects in the world today. Is it immoral to kill an unborn child? Do we have the right to choose what grows in our bodies before it becomes a citizen in America? Will God punish you for killing a person? So many questions go into this type of situation of what’s morally rightRead More Abortion - Right or Wrong? Essay1285 Words   |  6 PagesRight or Wrong? In January 2002 a college freshman, Karen Hubbard, bled to death after secretly delivering her baby in a bathroom stall at her dorm. Up until that night no one knew she was pregnant, not her family or her friends. Karen was a bright respected young girl, who had everything going for her. She was co-valedictorian at her school and was now on her way to college. In the fall of 2001 Karen went off to the University of Wisconsin, with high hopes from her parents. She was

Human Geography - an Overview (Cultural Geography)

Human geography is one of the two major branches of geography, together with physical geography. Human geography is also called cultural geography. It is the study of the many cultural aspects found throughout the world and how they relate to the spaces and places where they originate and the spaces and places they then travel to, as people continually move across various areas. Some of the main cultural phenomena studied in human geography include language, religion, different economic and governmental structures, art, music, and other cultural aspects that explain how and/or why people function as they do in the areas in which they live. Globalization is also becoming increasingly important to the field of human geography as it is allowing these specific aspects of culture to travel across the globe easily. Cultural landscapes are important to the field because they link culture to the physical environments in which people live. A cultural landscape can either limit or nurture the development of various aspects of culture. For instance, people living in a rural area are often more culturally tied to the natural environment around them than those living in a large metropolitan area. This is generally the focus of the Man-Land Tradition in the Four Traditions of geography, which studies the human impact on nature, the impact of nature on humans, and peoples perception of the environment. History of Human Geography Human geography developed out of the University of California, Berkeley and was led by Professor Carl Sauer. He used landscapes as the defining unit of geographic study and said that cultures develop because of the landscape and also, conversely, help to develop the landscape. Sauers work and the cultural geography of today are highly qualitative in contrast to the quantitative methodology used in physical geography. Human Geography Today Human geography is still practiced, and more specialized fields within it have developed to further aid in the study of cultural practices and human activities as they relate spatially to the world. Such specialized fields include feminist geography, childrens geography, tourism studies, urban geography, the geography of sexuality and space, and political geography.

Analysis of William Shakespeare´s The Taming of the Shrew

â€Å"The Taming of the Shrew ‘ is undoubtedly amongst Shakespeare’s most popular and debated comedies .The main subject of contention amongst critics is the apparent misogynistic elements offered in the play.Some ,like Stevie Davies argue that ‘The Taming of The Shrew ‘ celebrates ‘ female subjugation and mistreatment ‘ .Others see it is a parody of ‘female subjugation’ which grotesquely exaggerates Petruchio’s ‘taming’ of shrewish Katherina and portrays their relationship as a ‘game’ .Whether the play is a ‘parody’ or a celebration of the mistreatment of women depends very much on how we perceive the actions of characters and how social ,political and gender issues influence that perception . Significant to our interpretation of Katherina and Petruchio’s relationship is the Induction .The Induction determines whether we should regard Petruchio and Katherine’s outrageous actions later on in the play ,comically or seriously and their relationship as either a ‘game’ or a reinforcement of the patriarchal society .On one level , the Induction ‘’ frames {our} mind to mirth and merriment’’ ,eliminates any questions of the ‘seriousness of Katherine’s final speech’ ,as Oliver (64) proposes , and farcically describes the Lord’s antics.This trick may well indicate the ‘sadomasochistic game’ in which Petruchio decides to participate with Katherina ,using her obedience and ‘pleasance’ to win him the wager and to prove to the other men that he is a ‘worthy’ and skilful tamer .If theShow MoreRelatedAnalysis Of Shakespeare s Taming Of The Shrew 849 Words   |  4 PagesRelevance â€Å"When love speaks the voice of all the gods makes heaven drowsy with the harmony,† Taming of the Shrew, Act IV, scene II. Besides being a well written play, the comedic devices that each act holds is used to help develop the plot and the comedy effect of The Taming of the Shrew. The devices used has shown the audience how the shrew could be changed by receiving the same treatment it has been giving. Shakespeare used comedic devices to help keep the audience focused on the story and keep them guessingRead MoreHow far do you agree with the opinion that courtship and marriage are undermined and ridiculed in ‚Äà ºThe Taming of the Shrew‚Äà ¹?1718 Words   |  7 Pagesundermined and ridiculed in â€Å"The Taming of the Shrew†? Shakespeare’s drama â€Å"The Taming of the Shrew† is set in the Elizabethan era, and marriage and courtship was very different than how it is in the present. Back then it was the parents who picked suitors for their daughters. This choice would be final for the daughters but often women rebelled against the decision as they wanted to choose their own suitors. â€Å"Romeo and Juliet† is an example of this. In our â€Å"Taming of the Shrew† this is no different asRead MoreReview Of 10 Things I Hate About You Chick Flick Essay1077 Words   |  5 Pages Name: Menna Alaa Student number: 142 Subject: Women Studies 10 Things I Hate About You Chick Flick Analysis A Chick Flick as broadly agreed upon is the kind of films that mostly appeal to a female audience. Even the name itself is a bit offensive. It implies that films having female characters are appealing just to women spectators, and films with men, as protagonists are more commonly considered as widespread, whileRead MoreWilliam Shakespeare s Female Characters1232 Words   |  5 PagesKatherine Sosa. Julie Clifton. April 22, 2015 Shakespeare s Female Characters. The English playwright and poet William Shakespeare is generally known to be one of the greatest English writers and creators of all time. However, his works open themselves up to interpretation, whether in historical context or symbolism; they lend themselves to every readers individual response. In this research paper I will be addressing patriarchy, his treatment of female characters as commodityRead MoreShakespeare As A Midsummer Nights Dream Essay1922 Words   |  8 PagesWilliam Shakespeare is a well know writer in the English time. William Shakespeare was a poet but he was also a play writer and actor. According to The Longman Anthology British Literature, Volume 1b, The Early Modern Period pgs. 1199-1203. William Shakespeare was the greatest writer in the English language, he wrote poems that incorporated plays of histories, tragedies, comedies. Shakespeare was the third child of John and Mary Shakespeare, born in Stratford-upon-Avon on April 23, 1564, and atRead M ore Analysis of Much Ado About Nothing Essay3681 Words   |  15 PagesAnalysis of Much Ado About Nothing Much Ado About Nothing illustrates a kind of deliberately puzzling title that seems to have been popular in the late 1590s (ex quot;As You Like Itquot;). Indeed, the play is about nothing; it follows the relationships of Claudio and Hero (which is constantly hampered by plots to disrupt it), and in the end, the play culminates in the two other main characters falling in love (Beatrice and Bena*censored*), which, because it was an event that was quite predictableRead MoreLiterature and Language10588 Words   |  43 Pages1990) Helmut Hatzfeld was the first biographer of stylistics and his work in A Critical Bibliography of the New Stylistics (1953) was continued by Louis Milic’s Style and stylistics (1967), Richard Bailey and Dolores Burton’ s English Stylistics (1968) and James Bennett’ s A Bibliography of Stylistics and Related Criticism (1986). Until Helmut Hatzfeld brought out his bibiography the word â€Å"stylistics† had not appeared in the title of any English book about style although â€Å"stylistique† had appearedRead Morewisdom,humor and faith19596 Words   |  79 PagesTable of Contents (with links) Walter G. Moss 1 Table of Contents (with links) 1 Wisdom, Perspective, and Values 2 Humor’s Contribution to Wisdom 4 Humor and Wisdom in Europe: Some Highlights 5 Renaissance Humor: Erasmus, Rabelais, Cervantes, Shakespeare 5 Two European Russians: Anton Chekhov and Vladimir Soloviev 9 Reflections on Humor from Nietzsche to the Theatre of the Absurd 12 Humor and Wisdom in the United States: Lincoln, Beecher, Twain, Sandburg, and Buchwald 17 From The Times (of London)

Noh Extended Essay Free Essays

Every culture in the world has its own theater. In Japan one of the most ancient forms of theater is Noh. The Noh theater found its form in the fourteenth century and continues in much the same form, with many of the same plays, in present day Japan. We will write a custom essay sample on Noh Extended Essay or any similar topic only for you Order Now A Noh play portrays one all-encompassing emotion dominating the main character, the  shite. Whether jealousy, rage, or sorrow, all music, gesture, dance, and recitation are used to build the emotion to its final climax at the close of the play. Often the plays depict the return of a historical personage, in spirit – or â€Å"ghostly† – form, to the site of a significant event in his or her life. A warrior might return to the battle field, or young woman to the scene of a love affair. According to Buddhism of the fourteenth century, a person could not find spiritual release even after death if he still possessed a strong emotion or desire. To exorcise this emotion, the warrior might appear in his armor and recreate the battle in a dance. The dance would reveal his humiliation at suffering defeat. Noh plays are extremely intense. In order to express something so abstract as an emotion, words are often inadequate. As the play progresses, then, dance and poetry are used to express the tortured heart. Other elements which contribute to an intensification of the mood are the bare simplicity of the stage which allows no distraction from the main character, and the gorgeous costumes of the main character himself. The stylized movements also help to focus the energy on the emotion rather than on the individual personalities. In Noh as in classical ballet, every movement is choreographed and often symbolic. There is no individual interpretation. Masks are used in many different cultures. In Japan, Noh masks are used for theatre and dance performances. Each mask represents a certain person, hero, devil, ghost, or legendary animal, depending on what the character is in the performance. As Noh is an art form that utilizes masks, there is a great variety of them. There were originally about 60 basic types of noh masks, but today there are well over 200 different kinds in use. Noh performers feel that the noh mask has a certain power inherent in it which makes it much more spiritual than a prop used to change ones appearance. Taking into account the status of a certain noh, the noh performer will carefully choose a noh mask, known also as a noh-men or omote. In most cases, the exact mask is not predetermined, but depending on which noh is being done, the shite has a variety to choose from. In the end, it is up to the shite to make the final determination as to which mask is chosen. Exactly when the noh mask came into being is not entirely clear however it is believed that masks, and their names still used today, were developed from the mid to latter part of the Muromachi period (1392-1573). Previous to that time, the mask conventions were not entirely set and masks themselves had stronger religious connotations. It was during the Muromachi period that the religious significance of the masks began to wane and they took on more human characteristics. It is thought that as performers started to think more about the use of yugen (mysterious beauty) and profundity, they felt they needed to hide the unattractive aspects of their own faces and concentrate on making the beauty of noh stronger. Between the end of the Muromachi period and the modern age the art of making noh masks was established as a hereditary art with a long lineage. Two examples are the Deme family from Echizen (present day Fukui prefecture) and the Iseki family from Ohmi (present day Shiga prefecture). Following the establishment of noh mask making families, the stylization of noh masks significantly advanced. Even today there are many independent mask makers. While some nohgaku performers still make their own masks, the performance world and the mask-making world are essentially independent of each other. As it is often difficult to tell the actual feelings expressed in a noh mask, it is said to be made with a â€Å"neutral† expression. The mask carver tries to instill a variety of emotions in the mask. It is up to the performer to imbue the mask with emotion. One of the techniques used in this task is to slightly tilt the mask up or down. With terasu (tilting upwards) the mask appears to be slightly smiling or laughing and the expression lightens somewhat. While kumorasu (tilting downwards), produces a slight frown and can express sadness or crying. Basically, by using minute movements, the performer is able to express very fully. Noh masks, like costumes and props, are extremely valuable heirlooms and handed down from generation to generation. After having the costume put on, the shite then goes to the kagami no ma (mirror room) where in front of a mirror, the shite faces the mask. In putting the mask on, the word kaburu (putting on clothing) is not used. Instead the word kakeru (to hang) or tsukeru (to attach) is used. In this way, it is implying that the performer is â€Å"becoming† the mask, and its emotions, in order to better express the characters feelings. In reality, a noh mask does not entirely cover a noh performer’s face when it is being worn. In fact, it is thought best if some part of the chin and/or jowls show. Also, as the eye holes of the mask are very small, the field of vision of the performer is very limited when wearing the mask. Consequently the simple design of the stage and the use of hashira (pillars) assists in helping the performer know their location during a performance. Not all the main performers on stage wear masks in noh. Usually the shite and the tsure wear masks and occasionally there are instances where the ai will as well. The waki as a rule, playing a character who is living in the present, does not wear a mask. This is called hitamen or a â€Å"direct mask. However, even without wearing a mask, the performer is meant to â€Å"make their face a mask. † The performer must inject power and emotion into their performance while not using their face to express. In some genzai noh the shite or tsure do not wear masks. Noh performances reflect upon the daily life and times of the Japanese. An extremely stylized art form which dates back to the feudal period, the mask s used convey the mood and character of the part played by the performer. Thus, each mask is a manifestation of elegant simplicity and rustic tranquility. How to cite Noh Extended Essay, Essay examples

Basic Economic Ideas free essay sample

Meaning of scarcity and the inevitability of choices at all levels (individual, firms, governments) – Opportunity cost – Basic questions of what will be produced, how and for whom Unlimited Wants Human beings, in order to survive need a lot of things. Some of these things are very important for our existence. For example, food, clothing, water, shelter and air. These things can be classified as Needs. Apart from this there are things which are needed by us but they are not important for our survival and we can live without them also. For example, going on an expensive holiday, owning a 57 inches Plasma TV. These are known as Wants. This list is never ending and is continuously increasing. Limited Resources On the other hand, we have limited resources to produce these goods and services we want. There are not enough car factories to provide cars to everybody on earth. Everything on this planet has some limits except for our Wants. When unlimited wants meet limited resources, it is known as Scarcity. The Economic Problem of Scarcity The fundamental problem of economics is that we have unlimited wants, but limited resources to satisfy these wants. When wants exceed the resources available we have scarcity. Scarcity occurs because human wants exceed the limits of available resources. Economics deals with the basic fact that scarcity exists in our everyday lives and in our economy. Resources such as raw materials are in finite supply and must be allocated to their best use. Virtually all resources are scarce, meaning that more of them are desired than is available. Economics is concerned with the way people have to make choices in order to overcome the problems of scarcity. Inevitability of choices Each and every level of economic agent (individuals, firms or government) have to make the choices as all of them are confronted with central economic problem (scarcity). Government have to decide on the best possible way to allocate resources (where and what kinds of factories should be build), the firms have to decide how to maximize profit (what is the most efficient way to produce goods) and individual have to decide how to maximize their welfare (which goods will give them most satisfaction). In the process of this choice they have to give up other alternative so the concept of opportunity cost also implies in each and every level of economic agents. Opportunity Cost The relevant cost of any decision is its opportunity cost the value of the next-best alternative that is given up. This will mean that if we choose more of one thing, we will have to have less of something else. Economists use the term opportunity cost to explain this behaviour. The opportunity cost of any action is the value of the next best alternative forgone. By making choices in how we use our time and spend our money we give something up. Instead of following the economics classs, what else could you be doing? Your best alternatives may involve sports, leisure, work, entertainment, and more. Thus, the concept of opportunity cost is your best alternative to the choice that is made. If you choose to go to a restaurant this evening, the money that you spend on dinner will not be available for other uses, even saving. Businesses and governments also deal with opportunity costs. Businesses must choose what type of goods to produce and the quantity. Given limited funds, the opportunity cost of producing one type of good will arise from not being able to produce another. Opportunity cost in economics refers to the value of second best alternative forgone or given up. Simply put, lets assume that when you get up in the morning you have two options, going to the classes or sleeping late in the warm cozy bed. And if you decide to go to class anyhow, your opportunity cost would be the benefits you would have obtained by sleeping in the warm cozy bed. Opportunity cost is the cost related to the next-best choice available to someone who has picked among several mutually exclusive choices. It is a key concept in economics. It has been described as expressing â€Å"the basic relationship between scarcity and choice. † The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure or any other benefit that provides utility should also be considered opportunity costs. The concept of an opportunity cost was first developed by John Stuart Mill. Because people face trade-offs, making decisions requires comparing the costs and benefits of alternative courses of action. In many cases, however, the cost of an action is not as obvious as it might first appear. Consider the decision to go to college. The main benefits are intellectual enrichment and a lifetime of better job opportunities. But what are the costs? To answer this question, you might be tempted to add up the money you spend on tuition, books, room, and board. Yet this total does not truly represent what you give up to spend a year in college. There are two problems with this calculation. First, it includes some things that are not really costs of going to college. Even if you quit school, you need a place to sleep and food to eat. Room and board are costs of going to college only to the extent that they are more expensive at college than elsewhere. Second, this calculation ignores the largest cost of going to college—your time. When you spend a year listening to lectures, reading textbooks, and writing papers, you cannot spend that time working at a job. For most students, the earnings given up to attend school are the largest single cost of their education. The opportunity cost of an item is what you give up to get that item. When making any decision, decision makers should be aware of the opportunity costs that accompany each possible action. In fact, they usually are. College athletes who can earn millions if they drop out of school and play professional sports are well aware that their opportunity cost of college is very high. It is not surprising that they often decide that the benefit of a college education is not worth the cost. Examples of Opportunity Cost A person who invests $10,000 in a stock denies themselves the interest they could have earned by leaving the $10,000 dollars in a bank account instead. The opportunity cost of the decision to invest in stock is the value of the interest. If a city decides to build a hospital on vacant land it owns, the opportunity cost is the value of the benefits forgone of the next best thing which might have been done with the land and construction funds instead. In building the hospital, the city has forgone the opportunity to build a sports centre on that land, or a parking lot. Economic Goods: The goods that are scare and thus have economic value are called economic goods. They can be bought or exchanged through medium of exchange often called money or trade. Examples of such goods are car, television, laptops. Free Goods: The goods that do not have economic value and are not scarce are called free goods. They are either unlimited in supply or abundant. Or in some cases they might be of no human economic use. The examples of such products are water (exception: the sale of packed bottles of waters) and air (exceptions cylinders of oxygen used by mountaineers while climbing the mountains) What, how and for whom to produce? What to produce primarily depends on consumers in free market. The consumers choose the product they like and thus their choices direct the types of production that should be carried out. The firms will follow this because this is the most profit maximizing combination. How to produce will primarily depend on firm. They will seek to maximize profit thus they will adopt the most cost efficient way of production. They will either choose the labor intensive (using more labor as compared to machines) or capital intensive (more machines as compared to labor) depending upon their cost structure. For whom to produce will depend on the government and firms. The consumers are the primarily target but what kind of consumers the firms want to target is in the question. The government usually produce for all general public where as the firms can seek to maximize profit by producing to high and rich level customers. Different allocative mechanisms – Market economies – Planned economies – Mixed economies Plus the problems of transition when central planning in an economy is reduced The central problem of every economic society is to allocate resources in deciding what, how, and for whom to produce. These three questions are dealt with in different ways in each and every economy. They are dealt with depending on the economic and political frameworks of that country. Broadly speaking, the economic systems are classified into 3 categories namely: 1. The market economy or laissez-faire system or capitalist economy. 2. The command or planned economy 3. The mixed economy. MARKET ECONOMY In a market economy resource allocation is carried out by private individuals only. All factors of production are privately owned and managed. There is no government intervention and everyone is free to operate according to his will and desire. The main characteristics of such a system are: 1. Price/ market mechanism which manipulates the allocation of resources or tries to resolve the three fundamental questions of what, how and for whom to produce. In other words, resources are allocated through changes in relative prices. Adam Smith referred to it as the â€Å"invisible hands† of the market. 2. Consumer’s sovereignty exists, that is, consumer is a king because it directs the allocation of resources to a large extent while satisfying its own needs. His basic aim is to maximize satisfaction. The consumer’s decision can dictate economic actions as what and how to produce. 3. Producers aim at profit maximisation and rely on higher prices as a â€Å"green signal† to higher production. The foundation is the profit motive. Evidently, the production of those commodities will be more profitable which are demanded more by consumers. 4. Fierce competition among firms exists and basically it is this competition which encourages technological change, innovation and higher investment. 5. Easy mobilization of capital due to profit maximisation and regular innovations. Obviously, these do encourage industrialization and economic development. Features All resources are privately owned by people and firms. Profit is the main motive of all businesses. There is no government interference in the business activities. Producers are free to produce what they want, how much they want and for whom they want to produce. Consumers are free to choose. Prices are decided by the Price mechanism i. e. the demand and supply of the good/service. Advantages 1. There is consumer sovereignty. This means that consumers can influence what goods are produced directly by their purchase. In fact, they are free to buy whatever goods and services from which they can derive maximum satisfaction. Similarly, the greater use of price mechanism will provide an automatic and quick way to signal to producers what consumers want. 2. Free market responds quickly to the people’s wants: Thus, firms will produce what people want because it is more profitable whereas anything which is not demanded will be taken out of production. 3. The market provides a wide variety of goods and services to meet consumer’s wants. Indeed, the consumers may have a greater choice of a number of private-sector producers. This increased competition may increase the quality of products since rival producers will seek to attract new customersby improving the standard of their goods. 4. The market system provides incentives to producers in the form of profits and workers in theform of higher wages. This should encourage entrepreneurs to produce high quality products and to innovate, and workers to work hard. 5. There is greater efficiency. The aim of firms in a market economy is to make maximum profit. Hence, the market system encourages technological change, that is, the use of new and better methods and machines to produce goods and services at low cost. Those firms, which do not produce what people want at low cost and low prices, may go out of business. Disadvantages 1. Unemployment: Businesses in the market economy will only employ those factors of production which will be profitable and thus we may find a lot of unemployment as more machines and less labour will be used to cut cost. Certain goods and services may not be provided: There may be certain goods which might not be provided for by the Market economy. Those which people might want to use but don’t want to pay may not be available because the firms may not find it profitable to produce.