Controversial issues of traditional arts Essay Example for Free

Controversial issues of traditional arts Essay Ulek Mayang could be haunted. it is a Malay traditional dance from the state of Terengganu in Malaysia accompanied by a unique song called Ulek Mayang the lyrics were changed (no one knows the real lyrics) the song remains popular and there are several contemporary interpretations of the song the original dance is to honor the spirit of the sea. The modern dance has no elements of worship, its more to music and dance. After the arrival of Islam, such practice has been stopped and the Ulek Mayang dance is only preserved to be part of the Malay culture. Even now, Ulek Mayang is nicknamed the ‘Most Haunted Culture in Malaysia’.- However, some fishermen still practice this ritual. Agree: Some people claim that the song is haunted because it gives goosebumps and creepy feelings especially when it is performed at sunset by the beach People tend to avoid practising it nearby any beaches around the world, as according to the ancients’ beliefs; those 7 Sea-Princesses shall always guard the 7 Seas. Whoever that breaks certain rules, no matter where they are, will pay the price. There has been cases of tourists jumping into the sea for no reason after they performed Ulek Mayang along the north-eastern beaches of Peninsular Malaysia. Some cases happen on land too. Going missing and receiving visits were the greatest fear whenever one performs Ulek Mayang. Disagree: According to ustaz, Ulek Mayang is not a ghost or jin. Its a popular song in Terengganu and is a type of lagu rakyat. The Ulek Mayang song used nowadays has been shortened as Malays count the full song as worshipping spirits which is syirik in Islam. The Malaysian rock diva, Ella once sung the song in a rock version Poco poco dance choreographed with sequence of steps. it is a type of aerobic dance believed to originated in Indonesia more than 20 years ago Mesyuarat Jawatankuasa Fatwa Negeri Perak banned poco- poco because they believe it is derived from Christianity. Agree: The dance originated from Jamaica and is actually a cult dance There are many Christian rituals to it as the moves reflect the making of a cross and so is unacceptable in Islam Disagree: The Malaysian Muslims are confused. There is no any literature or practical evidence showing that poco-poco is derived from Christianity either in Indonesia, Philippine or Jamaica. Poco poco movements with cross design can not be a sufficient justification because movement of left and right sides is a natural human movement. Even when human stretch his hands, it can be considered illegal if the method resembles the cross. Mahsuris curse: Myth or Legend? Summary: One day while Mahsuri’s husband was away fighting a war, Mahsuri offered shelter to a wandering minstrel. For that, Mahsuri was accused of committing adultery by the village chieftain’s wife. The village chieftain who was still smarting over Mahsuri’s rejection of his earlier marriage proposal, ordered Mahsuri to be condemned to death. It was said that at her execution Mahsuri bled white blood signifying her innocence. At her last breath, Mahsuri was said to utter a curse on Langkawi for which the island will remain barren for seven generations. Agree: Many locals of Langkawi believe the legend to be true due to failed crops after Mahsuris death. According to recorded history, the Siamese invaded Langkawi not long after Mahsuri’s death and razed the island to the ground with a scorched earth policy. And coincidentally, Langkawi did not become a major tourist hotspot until the birth of Wan Aishah bt Wan Nawawi, the seventh generation descendant of Mahsuri. Disagree: Some people think Mahsuris story most likely is real and the killing of Mahsuri most likely took place, but the curse of Langkawi and her white blood must be a part of myth because there is no prove or evidence. in this modern and science world, people think its logically untrue for a normal human being to have white blood

Transmission control protocol

Transmission control protocol Comparisons and Evaluation of TCP versions Tahoe, Reno and NewReno Abstract There is been several numbers of transmission control protocols proposed for the past several decades. These proposed TCP versions have been widely acceptable and used in packets switched network. In this paper we will present an overview of Transmission control protocol, discus different versions of transmission control protocols which are current used, explore the challenge faced when deploy these TCP versions and finally compare and evaluate these TCP versions. Index Terms Transmission control protocol (TCP), TCP Tahoe, TCP Reno, TCP Vegas, TCP NewReno, slow start, fast retransmit, fast recovery and congestion avoidance. I. Introduction Transmission control protocol (TCP) is a connection oriented protocol which was designed to facilitate reliable and secure end-to-end communication between to device in a packet switched network [1]. The reliable communication between devices is achieved by TCP through process of assigning sequence number to every packet that is transmitted and record the time used to transmit packets between source and destination, further to that, TCP protocol require Acknowledgment of receiving packets from destination host to complete communication. By using this mechanism transmission control protocol is able to detect the packet lose, damage, duplication or received out of order and be able to correct them or retransmit. Transmission control protocol also use sliding window control mechanism to control the number of packets sender device can send at one time and keep regulating this number for any further changes in a network. This is achieved by requiring the destination device to acknowledge the receiving of all packets sent by sender. This number is usually telling sender device the number of approved packets can be transmitted before get permission to increase or decrease. There are different types of transmission control protocols which were proposed in order to try to improve the transportation of packets in a packets switched network. Some of these TCP versions which were proposed are including TCP Tahoe, TCP Reno, TCP NewReno, TCP Sack and TCP Vegas. II. TCP Tahoe This is a type of TCP version which was proposed to improve the original TCP protocol which was mainly based on assumption that packets lose is only caused by congestion in the system [2][3]. The original TCP protocol used to follow go-back-n automatic repeat request model which was able to detect loss of packets from timeout, retransmit only if there is packet loss and receiver host govern the window control packet flow in order to prevent packet overflow at receiver buffer. This protocol did a little to reduce the congestion if the two end-to-end devices were in different networks or data packet are required to go through a router to get to other end or go through a slow link. In the process of trying to improve the original TCP three traffic management mechanisms slow start, congestion avoidance and fast retransmit were introduced to the original TCP and the new TCP version was named as TCP Tahoe. Slow start Most of the original transmission control protocols were used to start connection followed by sender start injecting several packets to the network until sender reaches the window size allowed by receiver [4]. This approach can work fine if end-to-end devices are within a single Local Area network but in a fast and slow link network with multiple local area networks this approach can encounter problems which may resulted into rapidly reduction of TCP connection network throughput. In order to avoid these problems of throughput reduction slow start mechanism is used in a TCP Tahoe. Slow start operating mode always starting injecting packets into a network with window size of initial value of one then waits for its acknowledgement before increases its window size value. When sender receive the acknowledgement that the packets was received by destination then it increase its congestion window to two and send two packets, if acknowledgement received for these two packets, sender increase its congestion window size to four. Slow start mechanism keep increases its window size every time it receive its acknowledgement of previous sent packets exponentially until it reaches its maximum threshold value and enter congestion avoidance mechanism. By using slow start mechanism TCP Tahoe reduce the rate of congestion in a network. Congestion Avoidance Congestion Avoidance (CA) is another control mechanism used by TCP Tahoe to gently inspect the network for spare capacity [5]. TCP Tahoe enters into congestion avoidance mode when the value of congestion window size is greater than the value of slow start threshold otherwise TCP Tahoe continues working in a slow start mode. If packets loss is detected in the network then TCP Tahoe algorithm will automatic assume there is congestion somewhere in the network, using this assumption TCP Tahoe change its slow start threshold value to half of its current value and set the congestion window size to its initial value and start slow start again. Slow start and congestion avoidance are two independent algorithms with each have their own objectives; but when congestion occurs in the network TCP Tahoe is required to slow down its rate of sending packets into the network by call upon the slow start mode of operation to get thinks going again. Fast retransmit One of the problems with TCP timeout-triggering retransmission mechanism is that the timeout period can be relative long. Subsequently if there is any packet loss in the network, it will take long period of time before sender retransmit the loss packets hence increases end-to-end delay [6]. In order to solve this long timeout period retransmission problem TCP Tahoe uses fast retransmit mechanism to resend any loss packets. It doing so by allowing sender to use so called duplicate Acknowledgements to detect packet loss well before the timeout event occurs. Fast retransmit operating mode in a TCP Tahoe can be triggered when three or more duplicate Acknowledgments are received by sender in a row. If this occurs then TCP Tahoe will perform retransmission of what is assumed to be missing packets without the need to wait for packets retransmission time to expire. During this period of fast retransmit TCP Tahoe adjust its slow start threshold to half of current value and enters the slow sta rt mode of operation and set the congestion window back to its initial value of one. TCP Tahoe problems Due to automatic set back to slow start mode of operation with initial congestion window of one every time packet loss is detected we see TCP Tahoe does not prevent the communication link from going empty. Hence this may have high cost in high bandwidth product links. III. TCP Reno TCP Reno has all three mode of operation integrated into TCP Tahoe like slow start, congestion avoidance and fast retransmit, but in addition to that TCP Reno modify the fast retransmit mode of operation to form fast recovery mode of operation[7]. TCP Reno enters into fast recovery mode of operation when sender receiving three duplicate acknowledgments. Fast recovery operates by assuming congestion is serious in a network if the packets loss is detected due to timeout. If this is true then fast recovery mode set TCP Reno congestion window size to its initial value and enters into slow start mode of operation. But if the congestion is detected due to duplicate acknowledgements then TCP Reno assume the network congestion is not serious. If this is true fast recovery mode set TCP Reno congestion window size to half of its current value and enters congestion avoidance operating mode instead of slow start mode. By entering congestion avoidance mode of operation TCP Reno prevent the commun ication link from going empty after packet loss by avoiding slow start. TCP Reno problems TCP Reno only performs better when there is single packet drop from window of data, because it cannot detect multiple packets drops from single window of data. Due to this if there is multiple packet loss from single window of data then TCP Reno is required to wait for timeout to retransmit the second packet which has been lost, subsequently TCP Reno over high packet loss network does not perform well, it almost works just like TCP Tahoe. IV. TCP NewReno TCP Reno has all the key algorithms found in TCP Reno but in addition to these algorithm TCP NewReno modify the fast recovery algorithm in order to solve the problems of TCP Reno of not be able to detect multiple drop of packets in a single data window [8]. TCP NewReno enters fast recovery mode of operation just like TCP Reno when it receive 3 duplicate acknowledgement, but unlike TCP Reno, TCP NewReno does not exit from fast recovery mode of operation until all the packets which are not acknowledge by the time fast recovery was entered are acknowledged. After receiving acknowledgments of all outstanding packets TCP exit fast recovery mode of operation and set congestion window size to its initial value and finally enters the congestion avoidance mode of operation to get thinks going again. TCP NewReno problems TCP NewReno suffers from the fact that it is taking one round trip time (RTT) to detect each packet loss. Therefore TCP NewReno can only work out which other packet have been lost when sender receive the acknowledgement of first retransmitted packet. V. TCP SACK TCP Reno only work better when there is single loss of packets in a single data window and does not work better when multiple packets get dropped in a single data window without going into timeout retransmission. TCP Sack was implemented in order to solve this problem by improve retransmission efficient when multiple packets losses occurs [9] [10]. It is doing this by introducing Sack option field in a TCP Sack which is used to report out of order block of data which have been received correctly by destination device. Therefore instead of retransmit all non acknowledgment packets TCP Sack retransmit only packets which are missing. Similar to TCP Reno, TCP Sack enters fast retransmit mode of operation when sender receive three duplicate acknowledgements. The sender in TCP Sack retransmits packet losses then reduces its congestion window to half before exit fast recovery only when it receive acknowledge that all outstanding data packet have been acknowledged. VI. TCP VeGAS TCP Vegas is one of the most sophisticated transmission control protocol which uses packets delay to determine the rate at which sender send packet rather than using packet loss as discussed in TCP Tahoe, Reno, and NewReno [11]. It uses the initial increase packets Round Trip Time value to detect the congestion in the system instead of using packets loss. TCP Vegas achieve this by using the following techniques. * More Accurate Round Trip Time (RTT) Calculation * New mechanism for deciding when to retransmit * Modified congestion window sizing mechanism * Modified congestion detection and avoidance mechanism VII. SIMULATIONS In this section we are going to simulate small network using different TCP versions in order to evaluate their performance and see their actual difference between them. The simulation will be carried out between two fast network nodes connected via a slow link. The diagram below shows all the link bandwidth capacity and delays. Source Destination (0)- (1) - (2) - (3) 10Mbps 6ms 1Mbps 10ms 10Mbps 6ms From the diagram above packets was sent from network node 0 to network node 3 via node 1 then node 3 and finally arriving at destination node 3. Tiny acknowledgement packets then were sent back to receiver via the reverse route. Expected bottleneck was form between node 1 and node 2 due to different link speed between node 0 and node 3. The queue discipline used in our simulation was DropTail with the maximum queue size of 8 packets. The simulation also was set to support one way traffic from node 0 to node 3 therefore tiny acknowledgments packets were expected not to be discarded on their way back to sender from receiver. This simulation is intended to support evaluation of TCP traffic control mechanisms such as slow start, congestion avoidance fast retransmit and fast recovery. The simulation was run for 10.5 seconds and the following value was recorded every 1 second and observed throughput in (Mbps) and window size as a function of time. After finish running this simulation gnu-p lot tool was used to display the following results. TCP Tahoe Results From the two diagrams above we see from 0 seconds to 2 seconds TCP Tahoe was in slow start mode of operation, when it got to about 0.4 seconds we see the first packet loss occurs and immediately TCP Tahoe reset its congestion window size to half of its current size (see 3). We also observe the throughput reduced to almost zero when packet loss occurs this is because when packet loss happens TCP Tahoe is required to stop sending packets and go back to slow start phase before start sending packets again hence no transmission. We also see from 2 second onwards TCP Tahoe enters congestion avoidance mode of operation, whereby TCP Tahoe allow the congestion window size to increase exponentially until packet loss occur then go back to slow start mode to start transmission again. TCP Reno Results In 4 and 5 we see TCP Reno enters congestion avoidance mode of operation with fast retransmission from 2 to 10 seconds but at 0.4 second we TCP Reno enters fast retransmission then at 0.6 second come out of fast retransmission and go back to slow start mode of operation which is the same as TCP Tahoe this is because TCP Reno cannot detects more than two one packet loss in a single data window. We also see every time packets loss happens throughput is reduced to almost zero, this is because of the same reason explained above. TCP NewReno Results 6 and 7 show that TCP NewReno enters fast retransmission/ fast recovery mode due to packets loss which occurs around 0.4 seconds and never come out of this mode of operation because it was able to detect multiple packets loss in single data window unlike TCP Reno. But from 2 seconds onwards TCP NewReno behaves the same as in TCP Reno. TCP Sack Results 8 and 9 also show TCP Sack is preventing the communication path from not going empty after packets loss happens at 0.4 seconds by entering fast retransmission mode of operation and not come out until all packets sent in a single data window acknowledge. TCP Sack works the same as TCP NewReno but use selective acknowledgment to retransmit the loss packets. TCP Vegas Results In 10 and 11 we see TCP Vegas manage to achieve the network high bandwidth this is because TCP Vegas uses sophisticated traffic control algorithms to anticipate the congestion of the link rather than reacting to congestion. We also see at 0.1 second TCP Vegas enters slow start mode of operation and packet loss start occurring around 0.6 immediately after packet loss detected TCP Vegas set its window size to 8 packets and at the same time reduce its throughput to 0.5Mbps. From 1 to 10 seconds we see TCP Vegas maintain steady congestion window size of 8 packets and the throughput was increased to 1Mbps which was the maximum throughput set for our simulation. VIII. CONCLUSION In this paper we present an overview of different TCP versions, discuss different traffic control algorithms used by different TCP versions and discuss in general what TCP is. We see these TCP versions perform different depending to network environments. We see TCP Tahoe and TCP Reno perform better when network environments are not of high loss packets while TCP Sack was slight perform better than TCP Tahoe and TCP Reno. We also see TCP Vegas was one of the best TCP Version compare to all versions discussed in this paper. In our simulation we see TCP Vegas was able to reach the maximum throughput and maintain this state for more than 8 seconds of our simulation, this is because TCP Vegas is much more robust over loss packets network and it can detect and retransmit loss packets much earlier than others. The work presented in this paper provides a means of compare and evaluate different transmission control protocol versions. References [1] DARPA, RFC793-Transmission Control Protocol, 1981, cited 6 November 2008, available from http://www.faqs.org/rfcs/rfc793.html. [2] B.Sikdar, S. Kalyanaraman, K.S.Vastola, Analytic Models for Latency and steady-state throughput of TCP Tahoe, Reno, and Sack, 2003 pp 959-971, cited 4 November 2008, available from http://delivery.acm.org.ezproxy.kingston.ac.uk/10.1145/970000/966005/p959-sikdar.pdf?key1=966005key2=4143536221coll=ACMdl=ACMCFID=9935467CFTOKEN=88833439 [3] DARPA, RFC793-Transmission Control Protocol, September 1981, cited 6 November 2008, available from http://www.faqs.org/rfcs/rfc793.html [4] W.Stevens, RFC-TCP Slow Start, Congestion Avoidance, Fast Retransmit. Network Working Group, January 1997, cited 6 November 2008, available from http://www.faqs.org/rfcs/rfc2001.html [5] W.Stevens, RFC-TCP Slow Start, Congestion Avoidance, Fast Retransmit. Network Working Group, January 1997, cited 6 November 2008, available from http://www.faqs.org/rfcs/rfc2001.html [6] James F.Kurose, Keith W.Ross, Computer Networking: A Top down Approach, 3rd ed. Boston, Pearson, 2004. [7] M. Allman, V.Paxson, W.Stevens, RFC2581-TCP Congestion Control. Network Working Group, April 1999, cited 3 November 2008, available from http://www.faqs.org/rfcs/rfc2581.html [8] S.Floyd, T.Henderson, RFC2582 -The NewReno Modification to TCPs Fast Recovery Algorithm, Network Working Group, April 1999, cited 1 November 2008, available from http://www.faqs.org/rfcs/rfc2582.html [9] M.Mathis, J.Mahdavi, S.Floyd, A.Romanow, RFC2018 -TCP Selective Acknowledgements Options, Network Working Group, October 1996, cited 1 November 2008, available from http://www.faqs.org/rfcs/rfc2018.html [10]Kelin Fall, Sally Floyd, Simulation-based Comparisons of Tahoe, Reno and SACK TCP, Vol.26 No.3,July 1996, cited 31 October 2008, page 5-21; available form http://delivery.acm.org.ezproxy.kingston.ac.uk/10.1145/240000/235162/p5-fall.pdf?key1=235162key2=9083536221coll=ACMdl=ACMCFID=9935467CFTOKEN=88833439 [11] S.Brakmo, L.L. Peterson, TCPVegas: End to End Congestion Avoidance on a Global Internet, vol. 13, 1995 page pp 1465-1490, available from http://delivery.acm.org.ezproxy.kingston.ac.uk/10.1145/200000/190317/p24-brakmo.pdf?key1=190317key2=8457936221coll=ACMdl=ACMCFID=9935467CF

Effect of Major Events on Host Community

Effect of Major Events on Host Community Do major events bring lasting benefit to host community? Introduction Most promoters of bids for major events, such as the Olympic and Commonwealth Games or the world cup, submit as part of the reasoning behind the decision to bid the lasting benefits that it will bring economic benefit to the host community in the short and long term. Furthermore, this argument is used as a justification for the considerable involved in staging such events. For example, as can be seen from the budget and capital cost reports from Beijing, which is hosting the 2008 Olympics Games, whilst the operation of the games itself is targeted to make a small profit (see appendix 1, table 1), the construction and infrastructure costs have been estimated at over $1.4 billion (see appendix 1, table 2), which the BOCOG[1] and Chinese government state will be recovered as a result of the longer term economic benefits that these costs will bring to the area, in terms of increased trade, employment, tourism, international and local trade and other local social community benefits. However, whilst researchers of this issue appears to agree, at least for the immediate area where the event is located, for example Beijing, there is an immediate economic benefit during the staging of the events, there is a significant difference of opinion as to a) whether there is a economic benefit for the wider geographical area and b) whether there is a lasting economic benefit for the host community subsequent to the event. Within this paper it is intended to concentrate upon the latter of these two questions in an effort to prove or disprove the following hypothesis: â€Å"Events provide no lasting benefit to the host community.† To assist with this analysis, it is intended to use data from the Olympics in Atlanta (1996), Sydney (2000), Athens (2004), together with brief references to the Beijing 2008 Olympics. To assess whether the case is true in relation to other major events, which may not have such a global attraction, the Manchester Commonwealth Games of 2002 have also been included within the selection. Overview of Events As can been noted earlier the operational costs of hosting a major event is sizable and, due to increasing concerns in areas such as security, which includes prevention of terrorism, these have increased significantly over the years (Baade and Matheson. 2002a, p.5). In terms of this expense Baade and Matheson (2002a, p.6) with Salt Lake City as spending $300 million, which must cast doubt on the appropriateness of the $50 million Beijing is planning to spend on this item (see appendix 1, table 1). Thus, it is not surprising that there has been a chequered history in terms of the profitability of staging such massive events. In recent history an example of these extremes can be foun, with Montreal recorded a $1 billion loss for the 1976 games whilst Los Angeles made a profit of $250 million for hosting the same event in the 1984. Nevertheless, in most cases the majority of these operational costs, with careful planning, marketing and promotion, are expected to be recovered from sponso rship and TV rights, which has the potential of bringing in over $1 billion in revenue in today’s terms, if measured against the past expectations CBS (1998). These figures pale into insignificance when compared to the capital and infrastructure cost, which runs into Billion’s of dollars, the return on which cannot be so easily calculated. Thus, in order to achieve a national government commitment to assist with the funding of the event, it is the task of the promoters to attempt to show that these costs will have long-term economic benefits for the community. The following is a brief overview of the capital and infrastructure costs incurred by the four locations chosen for analysis. Based upon 1996 prices, the total direct cost of the Sydney Olympics was calculated to be around A$8.4 billion, (Madden 2002, p.9), which relates to around US$4 billion, although when final figures were available this showed a similar increase against budget as Atlanta. In his study into these costs, Madden (2002, p.9), allocated them over a 12-year period from 1994/95 to 2005/06 as indicated in the following graph: As can be seen from this the majority of the monies post the event was spent on international tourism. Of these costs about $600 million was spent directly upon games visitors, and these would therefore have been recoverable from the games revenues. This leaves approximately $7.8 billion to be quantified as costs that should have a lasting economic benefit, in addition the benefits incurred during the event. Athens 2004 The cost of the games in Athens, originally budgeted to cost $5.6 billion, actually rose to over $8.5 billion Associated Press (2004). Part of this additional cost was caused by an exceptionally large security costs which, being the first games to be held post the 9/11 tragedy, soared to $1.5 billion. With Beijing budgeting to spend $14.25 billion on capital and infrastructure and $1.625 billion on operating costs making a total of just under $16 billion, although many experts are predicting that this figure will increase to over $20 billion, it is clear from the following graph that the costs of the games will have doubled with every staging of the event over a twelve-year period (see figure 1). In 2002 Manchester played host to the Commonwealth games. Originally the budget for this event was set at around  £25 (approximately $50), but the final amount climbed to between  £70-80 million ($140-160 million). Of this amount  £17 million was spent on a performance legacy programme, deliberately targeted to produce long-term benefits for the community. As the Olympic Games increases are significantly higher than the rate of inflation that any of these areas have suffered during the same period, it is apparent that the accuracy of forecasting the longer term economic benefits is becoming even more critical to both the organisers and the regional and national governments that are being asked to help fund these costs. Furthermore, as has been demonstrated with all of these events, the calculations of initial budgeting show considerable under-estimation when compared with the final costs, which suggests that the reliability of the organisers costs in relation to the longer term benefits Long-term Economic Benefits To determine whether the capital and infrastructure cost of an event has a long term benefit to the host community, the assessment of this process can only bet determined by the future economic development that occurs within that geographical location (Fort and Fizel 2004, p.91). Therefore to evaluate the hypothesis set at the commencement of this research, it is intended to use three of these factors, these being increase in GDP, employment and tourism activity. GDP Growth domestic product is an indicator that shows how well the economy is growing, usually based upon a per capita figure. One of the main arguments of those promoting the benefits of hosting an event is that it will contribute significantly towards improving that figure over future years. In reality, this does not appear to be the case when analysing the result for the events indicated. In all cases there were economic improvements in terms of GDP during the periods leading up to the staging of the events, although in some instances, these were not as high had been projected. Similarly, in the longer term, these increases were not sustained. For example, taking Sydney and New South Wales as an example, as can be seen from the following graph, whist there was a significant rise in GDP during the years from 1994/05 to 2000/01, immediately the games were over, this fell back sharply to a year on year decrease. Studies conducted by researchers into the Atlanta and Athens games, including Baade, Robert A. Victor Matheson. (2002) and Gratton and Henry (2001) have shown a similar reaction in relation to the GDP in each of these cases, with rising levels during the build-up period to the games, but little to no benefit for the following periods. This position also appears to be relevant to the economic effects of lesser events, as can be evidenced by the research into the benefits of the Manchester Commonwealth Games in 2002 (Eurotec 2007). The initial impact was encouraging, as was noted by one of the organisers at the time, who said: â€Å"We estimated that  £22m in business benefits across the northwest derived from the Games at the time,† says Rosin. â€Å"There was  £2.7m added value for every  £1m invested. There has been investment in the financial sectors, in the city centre and in particular in east Manchester. Associated retail development and the creation of employment for local people in this area can be directly attributed to the Commonwealth Games† (Editorial (2007). However, a graph of the impact on output of the games and legacy programme in this case (see figure 4) shows that, as with the Olympics, despite the initial benefits achieved prior and during the time the event was staged, in this case exceeding expectations, the longevity of this was short, with it falling away rapidly within one year. It is apparent from these findings that the significant improvement to GDP would only be temporary in nature and as a result contributes little to the long term improvement of the local community environment (Fizel et al 1999, p.75). Assuming that a study of other events of a similar magnitude to those identified operated upon a similar basis, it is therefore apparent that the GDP benefit would be condensed into the period of the event and limited thereafter, Employment Tourism Tourism is another area against which the success of the games can be measured. Whilst, in most cases there is an increase in the physical numbers of tourists visiting the area in the years leading up to the event and subsequently, the benefit of this has to be evaluated against the additional facilities that have been provided as a part of the capital and infrastructure costs. For example, if one looks at the Beijing games, the intention is to build sufficient hotels in the area to be able to offer 130,000 (BOCOG 2007). As this represents an increase of around 20% of the number of rooms that are available, whilst an increase in tourism will have an impact upon the local economy in some areas, unless it is in excess of 20%, it will have a detrimental impact upon the hotel and catering sector, which will either force down the unit price per room or result in a decrease in occupancy, either of which will reduce the fiscal benefit. Thus the measurement of costs can be evaluated by either their socio-economic, environmental or the estimated direct future impact they will have on a countries gross domestic product (GDP). For Beijing, all of these improvements will therefore provide a useful economic legacy of the games if managed correctly. However, in addition to the intangible benefits, there are the intangible costs that also need to be measured, both in real terms and potential. These can be defined into two main areas being, local but external to the event, future but unanticipated. In addition to the determinants outlined above, there are others than need to be taken into the equation to provide a more detailed analysis. For example, there is the potential displacement issue related to local residents at the time of the event, where homes are lost to make way for the additional infrastructure projects (Fizel 1999, p.72). Secondly, there is the long-term use of the facilities. In the case of Sydney, the authorities are still paying around $46 million a year to maintain facilities that have remained uneconomic since the event (Owen 2005). Finally, the impact that the event has on trade outside of the area also needs to be considered. Research has show that, whilst the immediately area businesses benefit from the event, others further away from its location tend to show a downturn during that period when events are being staged. (Owen 2005). These represent hidden costs that are a) not always taken into account by the bid promoters and b) difficult to quantify in terms of amount and the length of time that they should be calculated over. Conclusion The research conducted for this paper has been limited in terms of the events covered and the timescale over which these have been studied, being restricted to five events over a 12 year period from 1996 to 2008. However, from the analysis of the events used within this paper it can be seen that in the main, the hypothesis set at the commencement of this paper has been proven. Whilst most of the events showed an immediate economical benefit, this did not last for a significant period. Therefore, on balance of probabilities. we would agree with the statement made by Baade and Matheson (2002, p.28) which stated that the evidence suggests that the economic impact of the Olympics is transitory, onetime changes rather than a steady-state chane., Similarly, with the increasing costs of operating and staging these events showing every sign of continuing to escalate, the opportunity to reverse this trend will become even more difficult in the immediate to long term future, especially when on e takes into account the fact that even the cost of the London Olympics has exceeded the budgeted estimates. There appears to be two main reasons for the differential between the projected benefits and the actuality. The first of these relates to the accuracy of initial estimates, which as has been shown within the costings of the events studied, is significantly lower than they should be, which could be result from an effort to make the bids more attractive to the community and nation hosting the event or as a result of problems being experienced within the project management process. Secondly, it would appear that the economic determinants being used by the organisers are failing to pay enough attention to the results of previous events when creating their own model. All of these issues need to be addressed when making such projections and it will be interesting to revisit the issue following the Beijing games in 2008 to see whether any lessons have been learned in this respect. These issues have to be managed correctly if they are to stand a chance of producing a long term economic benef it (Humphreys and Hummer 1995, p. 6). References Arthur Andersen, Hospitality and Leisure Services, â€Å"The Sydney Olympic Performance Survey: The Sydney Olympic Games on the Australian Hotel Industry,† Mimeograph, November 2000, pp.1-7. Associated Press (2004). Games cost Athens over $8.5 Billion. Retrieved 30 November 2007 from http://www.msnbc.msn.com/id/5761646/ Baade, Robert A. Victor Matheson. (2002). Bidding for the Olympics: Fools Gold? In Transatlantic Sport, edited by Barros, Ibrahim, and Szymanski. Edward Elgar Publishing. New York, US. Baade, Robert A. Victor Matheson. (2002a). Mega-Sporting Events in Dveloping Nations: Playing the Way to Prosperity. Retrieved 30 November 2007 from http://www.williams.edu/Economics/wp/mathesonprosperity.pdf CBS (1998). Television, sponsorship revenue could top $800 million. CBS Sportsline wire reports. Retrieved 27 November 2007 from http://cbs.sportsline.com/u/olympics/nagano98/news/feb98/revenue2398.htm Country Update (2004). Practicality is the New Watchword as Beijing Olympics Projects Move Forward. Eunited Stataes Embassy, Beijing, China. Editorial (2004). Beijing Olympiad: Profit or Loss? China Today. 5th November. Retrieved 25 November 2007 from http://www1.china.org.cn/english/sports/111340.htm Editorial (2007). Glasgow 2014 – the bid legacy – after the event. Glasgow Business Guide. Retrieved 1 December 2007 from http://www.glasgowbusinessguide.co.uk/show_article.php?artID=156 Eurotec (2007) An Evaluation of the Commonwealth Games Legacy Programme. Retrieved 2 December 2007 from http://www.manchester.gov.uk/downloads/Evaluation_of_Commonwealth_Games_Legacy_programme.pdf Finance (2007). BOCOG Budget. Retrieved 26 November 2007 from http://images.beijing-2008.org/upload/lib/bidreport/zt5.pdf Fizel, John., Gustafson, Elizabeth and Hadley, Lawrence (1999). Sports Economics: Current Research. Praeger Publishers. Westport, US. Fort, Rodney D and Fizel, John (2004). International Sports Economics. Praeger Publishers. Westport, US. Gratton, Chris and Henry, Ian (2001) Sport in the City: The Role of Sport in Economic and Social Regeneration. Routledge. London, UK Humphreys, Jeffrey L and Plummer, Michael K (2003). The economic impact of hosting the 1996 summer Olympics. Retrieved 1 December 2007 from http://www.selig.uga.edu/forecast/olympics/OLYMTEXT.HTM Humphreys, Jeffrey M. and Michael K. Plummer (1995). The Economic Impact of Hosting the 1996 Summer Olympics. Atlanta Committee for the Olympic Games. Atlanta, US.. Madden, John R (2002). The Economic Consequences of the Sydney Olympics: The CREA/Andersen Study. Current Issues In Tourism. Vol 5, No 1, pp.7-21. Owen, Jeffrey G (2005). Estimating the Cost and Benefit of Hosting the Olympic Games: What can Beijing expect from its 2008 Games. The Industrial Geographer. Fall 2005 Appendices Appendix 1 Table 1 BOCOG operating Budget Source: from http://images.beijing-2008.org/upload/lib/bidreport/zt5.pdf Table 2 BOCOG Construction costs Source: from http://images.beijing-2008.org/upload/lib/bidreport/zt5.pdf 1 Footnotes [1] Beijing Organising Committee for the Olympic Games

Port Everglades :: Free Essay Writer

Port Everglades Thesis Statement: Port Everglades has experienced steady financial and geographical growth over the past decade. The purchase of more land will create more business and an increase of profit that would benefit investors as well as the community. I. Land Purchase A. Benefits B. Cost II. Broward County Government A. Buying Decisions B. Tax Breaks III. Increased Business A. Cruise Ships B. Containerized Cargo IV. Projections A. Revenues B. New Jobs The Expansion of Port Everglades Port Everglades is located on the southeast coast of South Florida. It lies partly embedded within Ft. Lauderdale, Hollywood, Dania Beach and unincorporated Broward County (U.S. Army , 75). Port Everglades has experienced steady financial and geographical growth over the past decade. The purchase of more land will create more business and an increase of profit that would benefit investors as well as the community. According to Arthur Novacek’s article in The Herald, Port Everglades has experienced steady growth in all facets for more than a decade now. The Port has also expanded physically as its business has grown over the years, but has now run out of additional room (9). The only solution to keep expanding the Port was to buy more land. This land, located next to the Port, belongs to Michael J. Swerdlow, a South Florida developer. Purchase of this land would increase the Port by 272 acres (Bussey, 20). The benefits of this expansion are endless. The expansion will convert Port Everglades into a multipurpose hub linking sea, air, rail and highway transportation (Hemlock, 6). The Port will expand its existing operations and develop a 40-acre hub in which freight, packed in shipping containers, can easily be transferred to boats, railroads, highways, or the airport (6). Port Everglades once depended solely on the petroleum industry. Now, however, Port Everglades has the second-highest cruise ship passenger count and the 12th largest containerized cargo operation in the country, and is also one of only 85 ports in America to operate with a profit (Novacek, 9). In 1996 the port showed $9.3 million in profits (Bussey, 20). According to Goodkin Research Corp. buying and developing this additional 272 acres could mean an economic impact of $3.4 billion in profit over 20 years (Hemlock, 6).

The Hunchback of Notre-Dame Essay -- Essays Papers

The Hunchback of Notre-Dame â€Å"Love is a universal language.† This popular quote from many movies and literary works describes the importance of love, and how there are no limits or barriers when dealing with love. Many people cannot even help whether or not they fall in love. There are many types of love and they need not be between members of opposite sexes. In Victor Hugo's novel, The Hunchback of Notre Dame, Quasimodo's love for Esmerelda is not as strong as his different sense of love for the Archdeacon, Claude Frollo. Quasimodo loves each person in a different manner, but is truer to the Archdeacon. The hunchback feels, among other things, a love described as Eros for the Mistress Esmerelda; whereas, for the Archdeacon the love he feels is known as Philia. While Quasimodo is drawn to Esmerelda by her inner beauty and personal qualities, he admires the Archdeacon for his powerful position in the social structure of the town. Throughout the story, Quasimodo does his best to protect Esmerelda. Contrarily, he is protected by the Archdeacon. There are four types of love, only one of which involves a man's physical love for a woman and vice versa. This type of love is known as Eros. It is defined as a relationship in which two parties are physically attracted to one another. Esmerelda, the gypsy, is quite beautiful. She dances in the midst of a crowd near a bonfire: â€Å"All eyes were fixed on her, all mouths hung open. As she danced to the rhythm of the tambourine which her round, delicate arms held over her head, she seemed to be some sort of supernatural creature(p.22). Quasimodo is taken by her loveliness just like most other men. However, because he is deformed and hideous, Quasimodo's physical attraction to the Mistress is unrequited. Nevertheless, this attraction is uncontrollable. Although he never acts upon his urges nor openly displays his affection, the hunchback feels the type of love called Eros for Esmerelda. Accordingly, he feels a different kind of love for the Archdeacon: Philia. Just as Eros as love stems from physical factors, Philia is a result of external factors. The Archdeacon is a man of God. He is considered the religious authority in Paris. Quasimodo resides in the Notre Dame Cathedral. He takes a great interest in God, and apparently shares this interest with the Arc... ... priest's company and leadership. Quasimodo continues to show gratitude by obeying every command given to him by the Archdeacon. When the Archdeacon decides that Esmerelda should hang, even though Quasimodo loves her he could not defy the priest's command: he sat quietly by and awaited the hanging. It is clear that this love stems from the protection of the Archdeacon through Quasimodo's early years of life. This also exposes the fact that Quasimodo's respect and obedience to the Archdeacon outweighs his feelings for Esmerelda. Throughout the story by Victor Hugo, Quasimodo shows love to both Esmerelda, a beautiful gypsy, and to Claude Frollo, the Archdeacon that took the hunchback into his custody. Two types of love displayed are Eros, to the Mistress, and Philia, toward Frollo. Quasimodo's protection of Esmerelda is seen inversely through his relationship with the Archdeacon. The Archdeacon and Esmerelda have diverse qualities that evoke separate types of love from Quasimodo. In the end, the bell ringer's relationship with Frollo supercedes his emotions towards the Mistress. The Philial and brotherly love triumphs over unrequited erotic love.

Innovative company Essay

?Innovative Engineering Company was founded by two partners: Meredith Gale and Shelley Yeaton, shortly after they graduated from engineering school. Within five years the partners had built a thriving business, primarily through the development of a product line of measuring instruments based on the laser principle. Success brought with it the need for new permanent capital. After careful calculation, the partners placed the amount of this need at $1. 2 million. This would replace a term loan that was about to mature and provide for plant expansion and related working capital. At first, they sought a wealthy investor, or group of investors, who would provide the $1. 2 million in return for an interest in the partnership. They soon discovered, however, that although some investors were interested in participating in new ventures, none of them was willing to participate as partner in an industrial company because of the risks to their personal fortunes that were inherent in such an arrangement. Gale and Yeaton therefore planned to incorporate the Innovative Engineering Company, in which they would own all the stock. After further investigation, they learned that Arbor Capital Corporation, a venture capital firm, might be interested in providing permanent financing. In thinking about what they might propose to Arbor, their first idea was that Arbor would be asked for $1. 2 million, of which $1. 1 million would be a long-term loan. For the other $100,000, Arbor would receive 10 percent of the Innovative common stock as a â€Å"sweetener. † If Arbor would pay $100,000 for 10 percent of the stock, this would mean that the 90 percent that would be owned by Gale and Yeaton would have a value of $900,000. Although this was considerably higher than Innovative’s net assets, they thought this amount was appropriate in view of the profitability of the product line they had successfully developed. A little calculation convinced them, however, that this idea (hereafter, proposal A) was too risky. The resulting ratio of debt to equity would be greater than 100 percent, which was considered unsound for an industrial company. Their next idea was to change the debt/ equity ratio by using preferred stock in lieu of most of the debt. Specifically, they thought of a package consisting of $200,00 debt, $900,000 preferred stock, and $100,000 common stock (proposal B). They learned, however, that Arbor Capital Corporation was not interested in accepting preferred stock, even at a dividend which exceeded the interest rate on debt. Thereupon, they approached Arbor with a proposal of $600,000 debt and $600,000 equity (proposal C). For the $600,000 equity, Arbor would receive 6/15 (i. e. , 40 percent) of the common stock. . . . Assignment 1. For each of the four proposals, calculate the return on common shareholders’ equity (net income after preferred dividends divided by common shareholders’ equity) that would be earned under each of the three income assumptions. Round calculations to the nearest $1,000 and 1/10 percent. 2. Calculate the pre-tax earnings and return on its $1. 2 million investment to Arbor Capital Corporation under each of the four proposals. Assume that Arbor receives a dividend equal to its portion of common stock ownership times Innovative’s net income after preferred dividends (if any); assume a â€Å"negative dividend† if Innovative has a net loss. 3. Were the partners correct in rejecting proposals A and B? 4. Comment on the likelihood that Innovative Engineering Company could find a more attractive financing proposal than proposal D. Answer : A. 1. 100k long term loan, 100k = 10% of Common Stock. B. 200k Debt, 900k Preferred Stock, 100k Common Stock. C. 600k Debt, 600k Equity, arbor will get 40% of the equity D. 300k debt, 900k equity, 50% Interest 8% Dividend 10%

Causes of Increase in Price of Essentials in the Last Five Years

Term Paper Causes of increase in price of essentials in the last five years Department Of Economics East West University Submitted by: Afia Ibnat Sajoti : 2012-2-31-118 Nusrat Jahan : 2012-3-30- fzuuiuhio Date of submission: Table of contents: 1. Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1 2. Abstract: Increases in price level are also referred to as inflation.Such price increases in an economy are usually due to the effect of macroeconomic factors like demand, supply and consumption. All other macroeconomic factors that affect increases in price level are somehow related to these three factors. Those other areas include interest rate, monetary policies and Gross Domestic Product (GDP). Since mid-2007 basic food prices have rock eted with disastrous consequences for poor consumers.The spike in international market prices through the first half of 2008 has now subsided. Still prices of rice, wheat, corn (maize), and edible oils remain well above the levels of just a year ago and are likely to remain elevated and volatile for years to come. Two separate dynamics need to be understood in order for countries to make necessary adjustments.A gradual rise in food prices has been under way since at least 2004 with three general and fundamental factors at work: rapid economic growth in the People’s Republic of China and India especially put upward pressure on prices as demand simply outpaced supply; a sustained decline in the United States dollar since mid-decade added to the pressures on dollar-denominated international market prices; and a combination of high and rising fuel prices coupled with legislative mandates to increase production of biofuels has established a firm link between petroleum prices and f ood prices.The causes of price spikes are crop-specific. Drought and disease in 2007 caused wheat prices to jump, and supplies of edible oil were reduced as farmers in the United States shifted acreage out of soybeans into corn for nonfood uses (ethanol). Rice is the clearest example of crop-specific causes—the price spike was driven by export bans that were aimed at helping contain domestic food price inflation in exporting countries, but had the unintended effect of setting off panic as supplies to the already thin world rice market were sharply reduced.Asia will need several years of good rice harvests in order to stabilize the situation and reduce the exposure of the poor to another shock in food prices. This will not be easy to achieve as input costs are driven higher by high energy prices. Thus, it seems unlikely that world food prices will return to the declining trend seen between the mid-1970s and the first few years of this century. Introduction:The world prices of wheat, coarse grains, rice and oilseed crops all nearly doubled between the 2005 and 2007 marketing years and continued rising in early 2008. These increases in agricultural commodity prices have been a significant factor driving up the cost of food and have led to a fuller awareness and a justifiably heightened concern about problems of food security and hunger, especially for developing countries.The causes of this price spike are complex and due to a combination of mutually reinforcing factors, including droughts in key grain-producing regions, low stocks for cereals and oilseeds, increased feedstock use in the production of biofuels, rapidly rising oil prices and a continuing devaluation of the US dollar, the currency in which indicator prices for these commodities are typically quoted. This turmoil in commodity markets has occurred against the backdrop of an unsettled global economy, which in turn appears to have contributed to a substantial increase in speculative interest in agricultural futures markets.Tight market conditions for essential agricultural commodities pose policy challenges for national governments as well as for international organizations. In order to take the right policy decisions, we need to understand what caused the current price spike, what the implications may be for prices and price volatility in the future, and how various countries and members of society may be affected. This note aims to improve this understanding and thereby to contribute to sound policy formulation. Purpose and Scope:Price hike of essential commodities created various problems in the economic growth of Bangladesh. The main purpose of this paper is to provide a clear picture of price spike and its reasons, how it is creating problems in Bangladesh and in the global economy. This paper examines the issues at stake in light of rising food prices and This paper covers the present market situation of price movements that is about more or less within the year 2005 to 2011. This research only covers the essential commodities. Overall price movements of the economy are not the concern of this paper. Literature review:The focus of this literature review thus far has been price discovery in the beef sector. There are also several additional issues related to price discovery that should be considered. Among these issues are price transmission and identity preservation. By reading economical research PRICE OF DAILY ESSENTIALS: A DIAGNOSTIC STUDY OF RECENT TRENDS by Centre Policy Dialogue (CPD) it mentioned that Price hike of essential commodities has been one of the major challenges facing the incumbent Caretaker Government (CTG) of Bangladesh. The economy has been experiencing a creeping inflation over the recent past.Two most distinctive features of this inflationary trend had been the following: (i) increase in food prices had been more than that of non-food prices, and (ii) consumer price index was higher in the rural areas than in the urban c ounterparts. These trends had adverse implications particularly for the poorest segments of the society, given that there has not been any tangible increase in their real income. It broadly provided the current situation of our economics by showing an analysis of the supply chain of selected essentials items and distribution of recent commodity prices like rice, wheat flour, potato, onion, vegetables, eggs etc.It also demonstrated the current supply situation of selected essential items and projections like to estimate national demand for essential commodities for 2007, import scenarios in 2007, product-wise global production and price scenarios, comparison between Indian and Bangladeshi retail prices etc. Methodology: This research is conducted on the basis of secondary information and the market research done by various parties.Information has been collected from relevant papers and documents provided by the different governmental departments and international organizations, publi cations of different research think tanks and newspaper and web site. The steps that can be taken are This term paper is based on secondary data. It is a quantitative and research. Data is mainly from some renowned institutions like CPD, BB, BIDS, BBS, BEA, IPB etc. Limitations: Due to data limitation, this assessment is done by a simple methodology of comparing pre and post price shock. The literature reviewed in this study covers many of the topics important to price discovery.However it should be noted that the literature covers many decades of work by many authors. Therefore this study has focused on the significant and broad based work found in the literature. FINDINGS AND ANALYSIS Price changes and trends Global food and oil price hike have also increased the bar of food price in the local market. The food price of essential commodities has been increasing hastily since 2005 and climbed at the highest peak of the decade in 2008. However, prices declined a bit in 2009 but again started to increase since 2010 and till November 2011 prices of most of the essential commodities has risen more than those of 2008.If taken 2005 as the base year, the scenario of food prices in 2011 becomes a matter of stun and awe. From the table- 1, it is comprehensible that the prices of coarse, medium and fine rice have been doubled in 2011 than those of 2005. The price of Atta (white) increased by 83. 33 percent by November compared to 2005. The price of soybean and palm oil increased by 147 percent and 151. 22 percent respectively by November 2011 relative to 2005. The price of garlic in 2005 was Tk. 54/Kg while it increased by 122. 22 percent by November 2011. The prices of different types of pulses have increased over the years at an incredible rate.The prices of baby food items, powder milk and sugar are also on an upward movement. It might be very difficult for the poor people to manage three meals a day when the prices of essential commodities are on the rise at an acce lerating rate and volatile. As a result of this volatile nature of the price of essential commodities, the poorest segment and the limited earners are in great distressed. Consumer Price Index and Trend of Food and Non-food Inflation A measure that examines the weighted average prices of a basket of consumer goods and services, such as transportation, essential food and medical care.Specially, here we consider consumer goods i. e. ;essential food items. However, the CPI measures how much the price of consumer goods has changed over a given time period. It measures the inflation and deflation. If the large rises in CPI during short period of time indicate a period of inflation and large drops indicate deflation. From the table-2, it is caught sighted that recent data indicates the upward trend of consumer price index (CPI) in general and prices of essential commodities exceeds beyond the limit of poor income group or fixed earners. National (CPI) average is 10. 24 percent and 12. 2 p ercent for the month of October’ 2011. While the food prices of rural areas continued to boost at an accelerating rate compare to the food prices of urban. It is really a threat for the developing country like Bangladesh. This is clearly shown in the figure-1. Causes of the Current Increase in Food Prices * Black Marketing: In some cases, when governments or regulatory bodies set a maximum price for a good, this leads to black markets. To be effective, the maximum price has to be below the market price that prevails as a result of the interaction of demand and supply. For example, the market price of wheat is $5.The government is regulating the industry and fixes a price of $4 as the maximum price. Supply of wheat is going to reduce and demand is going to increase based on the laws of demand and supply. This will lead to a shortage as people are demanding more wheat than is being supplied. Some consumers will be willing to pay the original market price for wheat ($5) and some will be willing to pay even higher. This leads to a black market where suppliers will provide the willing consumers with wheat at a price higher than the prevailing one. It broadly means holding the inventories and selling it at a higher price.It creates artificial scarcity in the economy in spite of increase in production and results in price rise, * Black money: Black money encourages the people to the demand of goods and services in the economy thereby leading to high rise in the general price level. Tax evasion here is widespread with a new study by the finance ministry finding that undeclared income or ‘black money’ could account for up to 80 per cent of Gross Domestic Product — some $110 billion. Bangladesh Institute of Development Studies (BIDS) Research Director Binayak Sen argued that the housing sector has seen one of the most visible growths. †¦ why only took 450 to Tk 500 million is earned as tax and why the number of people having above Tk 200 million property is only 4000?†¦Ã¢â‚¬ ¦ It should not be less than 20 to 30 million if the valuation is calculated at market rate and not at the source rate,† said Binayak. Economists hold the view that black money breeding can become a major factor behind persistent inflation through misallocation of resources and shifts of resources from productive investment to current profligate consumption. Rapid Growth of Population: The rapid growth of population means more mouths to feed, more demand of clothing and basic necessities as compared to supply of goods and services which result in price rise. Several population factors play an important role in the increasing and changing nature of the demand for food, while also constricting supply and access to food. The population's role is often neither direct nor simple, and its impacts can vary at the local and global level.Nonetheless, many demographic trends that affect food supply and demand, especially rapid population growth , urbanization, population density of the rural poor, and migration for employment, are projected to continue. Urbanization, the growth of the middle class and associated changes in consumption patterns, migration and wage employment, large family size are all contributing factors as well. * Deficit Financing: Deficit financing, practice in which a government spends more money than it receives as revenue, the difference being made up by borrowing or minting new funds. Although budget deficits may occur for numerous reasons, the term sually refers to a conscious attempt to stimulate the economy by lowering tax rates or increasing government expenditures. It means printing more currency notes and coins. Deficit financing is done mainly to meet the budgetary deficit. It results in more supply of money in the economy but when the increase in the supply of money corresponds with less increase in the supply of goods and services (National output) there is a rise in the price of goods and services * High and rising price of energy: Energy and agricultural prices have become increasingly intertwined. With oil prices at an all-time high approaching $150/barrel, the U.S. government is subsidizing farmers to grow crops for energy. The U. S. farmers have massively shifted their cultivation towards bio-fuel feedstocks. High energy prices have also made agricultural production more expensive by raising the cost of mechanical cultivation and fertilizers, as well as marketing including cost of transportation. At the same time, the growing world population is demanding more and different kinds of food. * Rapid economic growth: Rapid economic growth in many developing countries, especially China and India have pushed up consumers' purchasing power, generating increased demand for food.This has shifted food demand away from traditional staples and toward higher-value foods like meat and milk. In the last five years, the  world economy  has grown on average by 8. 6% per year. The means our incomes have increased by this amount in real terms every year. Most of the contribution to economic growth has come from service industries, and manufacturing industries to a lesser extent. On the flip side of this, the agricultural sector has seen extremely poor growth in the last five years. While the overall economy has been growing 8. 6% per year, the agricultural sector has grown by a paltry 3. % per year in the last five years, on average. Thus, our income is rising a lot faster than food production. Demand is rising much faster than supply, and this is causing the high levels of food price in inflation. In addition, population is also growing by 1. 3% per year, further increasing the demand for food. * Dollar- depreciation: The rapid depreciation of the dollar against the euro and some other important currencies drives up the price of commodities quoted in dollars for both supply and demand reasons (see below). The depreciation of the dollar also causes invest ors â€Å"long† in dollars (i. e. most US-based investors, but holders of dollars globally as well) to seek hedges against this loss of value, with commodities being one attractive option. a sustained decline in the dollar since mid-decade added to the upward price. Pressure on dollar-denominated commodity prices directly, and indirectly fueled a search for speculative hedges against the declining dollar. Increasingly since 2006, these hedges were found first in petroleum, then in other widely traded commodities, including wheat, corn, and vegetable oils. * Increase in Money Supply: Money supply includes currency notes and coins, demands and time deposits.Increase in money supply shows that people in an economy are ready to spend more money for buying goods and services. Conclusion Essential commodities especially food in our country are important concerns at policy level to ensure the welfare of the mass people. In this regard price hike comes to top most concern with respec t to food security because if the price hike causes food insecurity for the mass of the people of our country. Availability of food, though indispensable for food security, is not enough to significantly improve food security at the household level.For improved household food security, all our efforts are needed to ensure nutrition of the poor through improving their accessibility to food and ensuring full biological utilization of the food. The overall food security can be well attained when increased accessibility to food is ensured through enhanced skill in domestic agriculture and increased availability of cereals and non-cereals, through attaining food accessibility by a sustained increase in the income of the poor and through education and health services leading to effective utilization of food of the malnourished people.It is expected that the people of the country will be able to enjoy their desired needs through essential commodities. For ensuring this situation price hike in essential commodities are to be taken into control. All the government initiatives should be targeted to increase production, reducing costs, ensure fair competition (competition law may be enacted and enforced) and gaining confidence of the business community and by ensuring these supplies could be increased and be able to keep pace with demand and price could be handled. References 1. Bangladesh institute of development studies (BIDS)Global Commodity Price Volatility and Domestic Inflation: Impact on the Performance of the Financial Sector in Bangladesh. 2. Center For Policy Dialogue PRICE OF DAILY ESSENTIALS: A DIAGNOSTIC STUDY OF RECENT TRENDS A report prepared for the Ministry of Commerce, Government of Bangladesh 3. Bangladesh Bureau of Statistics (BBS) 4. The Finance Express (FE) Rising food prices in Bangladesh: Causes, poverty impacts and policy actions 5. International Journal of Economics, Commerce and Research Current State of Price Hike In Bangladesh: An Analysis Of Food Items. 6. Bangladesh Economic Association (BEA)