Glastonbury music festival tickets Essay Example | Topics and Well Written Essays - 1500 words

Glastonbury music festival tickets - Essay Example Comparing this to the model characterized as efficient equilibrium, where utility functions increase continuously, efficiency appears not to have been a part of the outcome for this particular event. This paper aims to analyse and compare the varied macroeconomics pricing mechanisms as well as the applicable strategies on ticket allocation, all in a bid to determine the best mechanism that would assist work toward a Pareto efficiency balance for this record-breaking event. The general price theory associates the price of a commodity to vary directly with the value of the commodity (Besanko Braeutigam 2013). The theory further draws an analogy between the value of a commodity and its scarcity or ease of its availability. In a market situation, sellers aim at an optimal price for their commodities while buyers to the contrary opt for minimal price set on commodities. In an average or normal situation, it is the intersection between the two varied prices that ensures that markets are cleared without any excess or surplus on either side. A market clearing condition is thus achieved whenever the supply of commodities equals or meets the total quantity of goods or commodities demanded. For the ticket prices set for the Glastonbury music festival, the price was not at a market clearing level since the demand for tickets by willing buyers overwhelmed the amount of tickets available for sale. Under pure exchange price theory, a trader should be able to balance his endowment in the market with his possessed commodities. With such a balanced allocation of endowments and possessed commodities, Pareto efficiency as outlined in Besanko Braeutigam (2013), may be said to have been achieved which was not the case for the music event. The different strategies or economic paths available and apparently of best application to the sale of Glastonbury music festival tickets, and preferably retain or enhance efficient equilibrium have varied merits

Analysis od Uncle Tom's Cabin by Harriet Beecher Stowe and The Essay

Analysis od Uncle Tom's Cabin by Harriet Beecher Stowe and The American Promise, a History of the US by James L. Roark - Essay Example A new world of colonial society was created in which many people were displaced from their native land. In the early 1763, the British colony emerged as one of the imperial power in North America. However, some of the British in America rebelled against the British rule and joined together to form their new country known as United States. The United States as a young nation expanded to pacific and started creating tension to other nations around the world by promoting slave trade. The novel â€Å"Uncle Tom’s cabin† examines the slave trade that took place in United States. It reveals how American people involved themselves in the slave trade. This is revealed when Mr. Shelby the main protagonist in the novel and a slave trader discusses the number of slaves he needs to sell in order to settle his debt. This shows that slaves were regarded as commodities that could be found in the market freely. American large scale farmers bought the slaves to work in their farms where they were highly mistreated. On the other hand, the book â€Å"The American Promise, a History of the United states† explores the American people’s life from a traditional to modern society. It gives an account of the transitions and conflicts that have shaped United States. This paper is a critical analysis of the novel â€Å"Uncle Tom's Cabin† by Harriet Beeecher Stowe and the book â€Å"The American Promise, a History of the United states† by James L. Roark. Analysis of Uncle Tom's Cabin Uncle Tom’s Cabin is a classic novel that provoked the American civil war in early 1600s. It discusses the issue of the slave trade that prevailed in United States. In addition, it also reveals the cruel behavior of the white masters towards their slaves. The author of the novel has a negative attitude towards slave trade in the American society. His main concern is to show that African-American have feelings like any other people in the society. This is because , during this period, white plantation farmers viewed black people as degraded human species. In addition, slave sellers and auctioneers had no feeling for the African-American people. This is evidenced by their behaviors of separating children from their mothers without feeling of the loss (Stowe 7). Harriet Beecher Stowe writes this novel to show that African-American people are normal human beings and should be treated with equality in the society. In his writing, he approaches the issue of the slave trade in an unwavering Christian viewpoint. The novel narrates the story of Uncle Tom who is the main character. He is very intelligent and honest middle aged, black man in the American society. The author also introduces Mr. Shelby a slave trader and a master to Uncle Tom. He has a great trust of Uncle Tom and allows him to carry out various dealings in the house. In addition, he also entrusts him to take care of a large sum of money whenever he is on a business trip. Uncle Tom on t he other hand is loyal to his master and does not want to violate the trust. This is evidenced with his act of not running away with the money even after getting a prime opportunity (Stowe 37). Uncle Tom enjoys the comfortable lifestyle in Mr. Shelby’s home. Due to his Christian values he is highly respected by Mr. Shelby. This makes him enjoy freedom in the house of a slave trader. However, the turning point of their relationship arrives when Mr. Shelby find himself in a debt of another slave trader known as