International Business Economics Essay Example | Topics and Well Written Essays - 1500 words

International Business Economics - Essay Example The figures show labour cost in hours for producing one unit of good David Ricardo formulated the theory of comparative advantage and argued that even if a one country is more productive in both lines of production it would be still profitable to trade. Country A is more productive in both lines of production but it will still be profitable to trade with country B, this is shown by first stating that country A is more advantaged in production of good X, therefore when wee calculate the comparative advantage country A will specialise in the production of good X and country B will produce good Y and they will gain by trading. (Hardwick, 1997) The Hecksher-ohlin trade model states that trade is based on the difference in factor endowment, a labour rich country will produce and export labour intensive good, and it will also import capital intensive goods. A capital rich country will produce and export capital intensive goods; it will also import labour intensive goods. According to the factor equalization theory, if we have a situation where factors of production cannot move from one country to another but there is free movement of goods, then the free movement of goods will eventually equalize factor prices. Point Q is the equilibrium point of producing both goods for country one, point P is the point of equilibrium for country two in producing both goods. The movement of goods will cause a shift in equilibrium points and case price equalization. Equilibrium shift as shown by the arrow. According to the Rybczynski theory an increase in factor of production and the other factor remains constant in a country , then the output of the good using the factor of production intensively increase while the output of the other good will decrease in absolute amount provided factor and output prices remain constant. (Jagdish, 1987) The countries original equilibrium is at point P, after increase in labour the new equilibrium is at point P'. According to the Stolper Samuelson theory, he argues that a tariff imposed on import goods causes an income distribution. He argues that a tariff on an import causes domestic prices to rise; this causes an increase in domestic production as firms emerge to capture the profits caused by the price in this goods. This effect is

AIC test and diabetes Essay Example | Topics and Well Written Essays - 750 words

AIC test and diabetes - Essay Example From this study, it was found that A1C level of a patient provides a reliable measure of controlling chronic glycemia without the need for a timed sample or fasting, and it correlates highly with the long-term risk of diabetes-related complications and mortality. Most important, this test tool is more effective in detecting undiagnosed diabetes and there is a higher potentiality of using the measurements of AIC levels to screen type 2 diabetes (Choi et al, 2011). How the new tool can be integrated into practice It has been found that AIC test is not recommended for diagnosing diabetes among adolescents with diabetes. The conventional fasting plasma glucose test in which a patient is put on fast for 8 hours prior to testing has been found to detect more undiagnosed cases of diabetes among adolescents compared to the AIC test. The suitability of this among children is still debatable. For example, the American Diabetes Association has given guidelines on how it can be used in children yet researchers from Michigan University caution against the same. The AIC test tool is therefore best applicable to adults. This suitability is supported by research which indicates that AIC test is more sensitive in diagnosing adults accurately compared to adolescents. The application of the findings of this study to adults simply entails making a shift from the use of the fasting blood glucose tests to using AIC tests when diagnosing diabetes among adults.... The AIC test enables physicians diagnose patients who are diabetic faster and more comprehensively. Because of this, the AIC test can be used to increase the number of adults diagnosed with type 2 diabetes and thus the number of people with diabetes who receive timely intervention to reduce the complications and clinical implications of the disease. This will particularly be important in diagnosing asymptomatic patients because of the accuracy of obtaining glucose levels. The result of this will be the reduction of diabetic patients, especially asymptomatic patients, who suffer from multiple organs systems failure due to late diagnosis. This application is important because there is a rapid increase in the prevalence of type 2 diabetes. Less than 13% of adults in the US and Asia have been diagnosed with this type 2 diabetes. Among the newly diagnosed patients, 25% already had microvascular complications, indicating a 6- to 7-year time lag that exists between the onset of type 2 diabe tes and its diagnosis. The second application of the AIC test among adults is making predictions of diabetes for purposes of timely management. The AIC test is more powerful in identifying people who are at a high risk of becoming diabetic in future or who have undiagnosed diabetes. The use of AIC test will therefore be useful in increasing the prediction of new-onset diabetes among adults and thus the number of people that are likely to be on diabetes prevention and management programs. Â  This application is vital because when taking into consideration the clinical implications and complications of diabetes, it is of paramount importance to identify people with who are at a high risk of becoming diabetic in future or who have undiagnosed