Macroeconomics Supply and Pricing

Questions: 1.Explain the purposes for Australias flooding lodging prices.2.Detail macroeconomic arrangements the legislature can attempt to guarantee moderate lodging for the youngergeneration. Answers: 1. As per the basics of financial matters, the interest, gracefully and evaluating of any thing or administrations are interlinked with one another. By applying the equivalent monetary idea, the explanations for the flooding lodging costs in Australia can be clarified (Shearer, Coiacetto, Dodson, Taygfeld, 2016). In the interim, the expanded populace in the metropolitan urban areas and the improved way of life of the Australian people group have been significantly gone about as the drivers prompting ascending in the value level of land and lodging (Roseland, Cureton, Wornell, 2008). In this, the main considerations prompting the occasion have been appeared in the fundamental segment as follows: Accessibility of lodging credits at a low-loan cost: The budgetary establishments in Australia have offered lodging advances to the social open of Australia at a reasonable financing cost. Because of the results, the more Australian open has gone to the metropolitan urban areas for better chances. Along these lines, the interest of the houses has added to the flooding value level (Steele Gleeson, 2011). Improved way of life and pay level: Currently, outside direct speculations have to a great extent added to the improvement of the social expectation for everyday comforts. Additionally, the salary status of the Australian has been improved significantly. Subsequently, the most extreme fame has expected to move their vocation in the urban communities prompting expanding interest for houses (Gurran, Gallent, Chiu, 2016). Hence, the flooding interest for the house has prompted expanding in valuing. Minimized gracefully of lodging lands: Another significant factor prompting flooding lodging costs is the reduced flexibly. As the flexibly of land is to some degree consistent, the providers can't give the land as per the interest. Along these lines, the interest has outperformed the gracefully of houses fuelling the value climb of houses in Australia. Based on financial matters basics, the interest side effect and gracefully side effect have been particularly investigated in the segment to distinguish how the drivers are prompting value climb of lodging in Australia. Essentially, the low-intrigue advances and improved ways of life have prompted the ascent sought after of lodging driving the value flood to get unavoidable. Figure 1: Impact of Change in Demand of House and Land Source: (Evans, 2014) As appeared in the above figure 1, because of simple advance moderateness and improved salary gauges of the Australians, the interest bend has been moved to directly from D to D1 however the flexibly stays steady as the straight line S. Because of the move sought after has expanded the value level of lodging to P to P1. In this way, unequivocally it very well may be said that the flood sought after prompting value climb of houses. Figure 2: Impact of Change in Supply of House and Land Source: (Evans, 2014) Presently, considering the flexibly situation of accessible lodging lands, huge interest of terrains has added to the lack of gracefully as appeared in the figure 2. The gracefully bend is moved towards left from S1 to S2 demonstrating the lack in flexibly. In this manner, the compression in gracefully situation has fuelled the evaluating of hoses from the point P1 to P2. Along these lines, the restricted gracefully of land for the lodging complex has prompted flood in valuing (Parks Hardie, 2013). 2. Australian economy has obvious a flooding lodging costs that has brought about a diminishing lodging moderateness for the more youthful age. At the end of the day, the more youthful age of Australia requests all the more lodging property in a constrained gracefully showcase that steadily builds the cost of the land properties (Habibis, 2013). Henceforth, it is significant for the Australian Government to make fundamental strides so as to control cost of house and land to guarantee moderate lodging for the more youthful age. There are a few macroeconomic changes that can be made by the Australian Government to control the cost of lodging properties in the market. The investigation has been created to introduce the macroeconomic changes that can be suggested by the Government of Australia so as to improve the reasonableness in the lodging business (Habibis, 2013). The examination likewise centers around clarifying the effect of the macroeconomic changes on the interest and flexibly of house in the market to know how these changes will influence the cost and lodging reasonableness among the more youthful age. The three essential macroeconomic arrangements are talked about thus beneath: Increment Credit to Acquire Property The primary macroeconomic arrangement that can be attempted by the Australian government is to expand the credit offices to obtain property (Lee, 2009). For instance, diminishing duty on contract intrigue, decrease advance to esteem proportions and increment obligation as far as possible. The expense on contract premiums must be decreased to limit the expense of taking care of the obtained cash. Then again, a higher measure of advance can be furnished in correlation with the valuation of the house (Kroll, Mller, Haase, Fohrer, 2012). Besides, expanding the constraint of a person to take credit can likewise build house reasonableness. As it were, lessening the consumption to procure advances and offering low premium credits to the more youthful age individuals will build the moderateness of lodging properties in the Australian market (Lee, 2009). As a matter of first importance, youthful age individuals will have a more drawn out residency of life and expanding the residency of credit s to around 30 years will diminish the EMI installments for the youthful age individuals. Then again, expanding the obligation as far as possible will raise the measure of credit that can be taken from the market. Consequently, bringing down the loan cost and increment in the flexibly of cash will support the buying intensity of the more youthful age in the Australian market. The Government of Australia must roll out important improvements in the credit strategy of the banks to build the capacity of the more youthful age to secure a property. Decrease Taxation on Capital Gains The tax assessment on capital additions goes about as an extra over the complete cost of the property. For instance, an individual buying a house or land needs to pay additional duty over the limited estimation of the property. Henceforth, it builds the weight over the youthful age individuals to buy a house or land on account of the expansion cost of procuring a property (Mills, 2007). Consequently, the legislature of Australia must diminish the tax assessment on capital increases to decrease a definitive expense of procuring a land or house (Lawrence, 2009). Presently, utilizing the interest law, it very well may be seen that the fall in the cost will build the amount interest for the land properties. A clarification is given in subtleties utilizing a diagram in this beneath: Figure: Impact of decrease in tax assessment on capital additions Source: (Yates, 2007) It tends to be seen from the above diagram that the last cost or cost of getting a house decreases from P to P1. For this situation, the interest bend stays at its place at D. Thus, the aftereffect of fall in the cost is the expansion in the amount requested for the lodging properties. Thus, it tends to be seen that the decrease in the tax assessment on capital additions will progressively build the amount requested for lodging among the more youthful age (Yates, 2007). In any case, it is critical to remember that the interest for house and land is inelastic in nature. Subsequently, the move in the amount requested is very less when contrasted with the adjustment in the cost. Subsequently, it tends to be seen that this macroeconomic strategy will be compelling by a base level. Motivating forces to Increase Supply Another compelling macroeconomic arrangement that can be utilized by the Australian government is to give motivations to expand flexibly in the lodging business (Lee, 2009). For instance, permitting more units of house in a specific land, building government lodging and sponsoring open vehicle to expand the gracefully of house and land in the market. Decreasing the region of house by building more units of houses in a little land can expand the gracefully in the lodging market (Mills, 2007). Besides, building government lodging likewise prompts increment in the flexibly. Besides, sponsoring and creating open vehicle in edge zones will lessen the expense of building a house that will additionally diminish the cost. Consequently, these arrangements can be utilized to expand the flexibly of house that lessens the cost and results in increment in the amount requested (Lawrence, 2009). Thus, an expansion in the lodging reasonableness can be obvious from the diagram introduced beneath: Figure: Impact of increment in Supply on Housing moderateness Source: (Umeda, 2012) The expansion in the gracefully will bring about move of the flexibly bend from starting flexibly to new flexibly over the long haul. Henceforth, it will additionally bring about the fall of cost from P to P that will expand the amount requested from Q to Q in the market (Wulff Maher, 2008). Consequently, motivating forces to expand flexibly can be utilized by the Australian Government to guarantee lodging reasonableness among the more youthful age. Thus, it tends to be seen from the above examination that diverse macroeconomic arrangements can be utilized by the Australian Government to guarantee reasonable lodging for the more youthful age. Giving lower intrigue advances, increment credit reasonableness, lessening tax assessment on capital additions and impetuses to expand flexibly can be utilized together to see a superior moderateness in the lodging business in Australia for the more youthful age. References Evans, A. (2014).Economics, land, and the gracefully of land. Oxford, UK: Blackwell. Gurran, N., Gallent, N., Chiu, R. (2016).Politics, Planning and Housing Supply in Australia, England and Hong Kong. London: Taylor and Francis. Habibis, D. (2013). Australian Housing Policy, Misrecognition and Indigenous Population Mobility.Housing Studies,28(5), 76

Bill of Materials and Cost Estimate Sample Essay Example for Free

Bill of Materials and Cost Estimate Sample Essay All out: 201,810 Pesos| B. FOOTINGS, COLUMNS AND BEAMS Item Description| Quantity| Unit| Unit Cost (Pesos)| Total Cost| 1. Albay Sand| 71| m3| 380| 26,980| 2. Coarse Aggregate| 141| m3| 850| 119,850| 3. Portland CementAlbay Sand| very small| m3| | 20. Portland Cement| 1| pc| 230| 21. Work Cost (30%)| | 42,117| 22. Circuitous Cost (10%)| | 14,039| Total: 196,542 Pesos| K. ELECTRICAL WORKS Item Description| Quantity| Unit| Unit Cost (Pesos)| Total Cost| 1. Board Main | 1| unit| 3,500| 2. 4† Electrical Tape| 3| pcs| 25| 75| 3. Divider Lamp| 16| pcs| 350| 5,600| 4. Triple Switch| 3| pcs| 200| 600| 5. Single Switch| 11| pcs| 150| 1,650| 6. Accommodation Outlet| 20| pcs| 150| 3,000| . 20 mm dia. UPVC x 3 m| 10| pcs| 120| 1,200| 8. 25 mm dia. UPVC x 3 m| 3| pcs| 150| 450| 9. 30 mm dia. UPVC x 3 m| 10| pcs| 180| 1,800| 10. 32 mm dia. UPVC x 3 m| 3| pcs| 210| 630| 11. 22 mm2 THHN wire| 1| box| 1,500| 12. 3. 5 mm2 THHN wire| 5| box| 1,300| 6,500| 13. 5. 5 mm2 THHN wire| 6| Box| 1,200| 7,200| 14. Work Cost (30%)| | 10,112| 15. Backhanded Cost (10%)| | 3,371| Total: 47,187 Pesos| L. SUMMATION OF COSTS Item Description| Cost| 1. Site Works | 201,810 Pesos| . Footings, Columns and Beams| 1,469,440 Pesos| 3. Slabs| 458,481 Pesos| 4. 6† CHB Wall| 363,420 Pesos| 5. Ceiling| 301,386 Pesos| 6. Windows| 52,500 Pesos| 7. Doors| 107,100 Pesos| 8. Painting| 248,634 Pesos| 9. Structures and Scaffoldings| 602,778 Pesos| 10. Clean Works| 196,542 Pesos| 11. Electrical Works| 47,187 Pesos| 12. 20% Profit| 809,856 Pesos| 13. 10% Legal Expenses| 404,928 Pesos| Total Project Cost: 5,264,062 Pesos Say 5. 27 Million Pesos | The Estimated Cost of the Project: 5,270,000 Pesos

Schools Accepting MyBest Scores

Schools Accepting MyBest Scores Schools Accepting TOEFL MyBest ScoresImportant Update from 2020: ETS is now maintaining its own list of schools and organization that accept TOEFL MyBest Scores. I probably wont update my own list anymore. You can find the official list as a PDF file right here.The following institutions have stated publicly that they will accept TOEFL MyBest Scores. Note that this list could be out of date. It is best to contact the school you are interested in directly.Yale Graduate School of Arts and Sciences. Source: If you wish to send us “MyBest Scores”, we will accept them. AllTOEFLscores we receive will be made available to the program reviewing your application.Miami University. Source: We acceptMyBestscores for the TOEFL.This means that the highest scores for each section from different TOEFL exams will determine a combinedhighest sum score.Carnegie Mellon School of Design. Source: the School of Design also accepts MyBest scores for TOEFL iBT.Shoreline Community College. Source: MyBest scores are accepted.University of British Columbia College of Graduate Studies. Source: The College of Graduate Studies accepts MyBest Scores.Northwestern (Graduate School). Source: GS accepts the MyBest scores. A new reporting structure released by ETS in August 2019. These scores may be entered in the TOEFL section on the Test Scores page of the application form.University of Arizona (Graduate College). Source: Individual MyBest scores must also be dated within 2 years of the enrollment term to be considered valid.University of Buffalo. Source.CalArts.Source: CalArts accepts MyBest scores delivered directly from ETS.San Francisco Conservatory of Music. Source: SFCM will consider accepting theMyBestscores. We must have all score reports theMyBest scores are fromsubmitted with the application, and the scores must be from within the past two years.Schools and Boards that will not accept MyBest ScoresIn addition, the following institutions have publicly stated that they will not accep t TOEFL MyBest Scores. This list could be out of date. Contact the schools for confirmation.Georgia Tech. Source: At this time Georgia Tech does not accept the ETS MyBest Scores for TOEFL. Our TOEFL minimum requirements are such that we must receive your full test score results for each testing session.University of Illinois. Source: If English is not your first language or you are attending high school in a non-English-speaking country, we recommend you report your highest TOEFL (do not use MyBest scores) or IELTS score and highest sub-scores, regardless of test date.Johns Hopkins (School of Public Health). Source: MYBest Scores will not be accepted.California State University (Long Beach).Source: We do not accept MyBest Scores.University of California Irvine. Source: We do not acceptMyBest scores; you must submit all individual test scores.University of California Berkley (Graduate School). Source: We do not accept MyBest Scores.National Association of Boards of Pharmacy. Source: NABP does not accept MyBest™ scores, or “superscores.”You must complete and receive passing scores on all four sections of the TOEFL iBT in one testing session.University of Pennsylvania. Source: Penn looks at the results of an applicant’s most recent TOEFL exam, not MyBest scores.Rice (Graduate School).Source: No, Rice only accepts the best composite score.University of Minnesota. Source: The University of Minnesota Twin Cities does not considerMyBest Scores: Sum of Highest Section Scores of the TOEFL iBT Score Report to meet the minimum total score requirement for admission.University of Washington. Source: We will not consider TOEFL’s MyBest score to meet the minimum English proficiency requirement for freshmen admission at this time. Although we are reviewing our policy and collecting data about the MyBest scores, applicants applying for autumn 2020 should plan on meeting the minimum English proficiency requirement for admission with scores from a single test date.Ohio University (Graduate School). Source: The Graduate College does not currently take into consideration the TOEFL “MyBest” scores (superscores).Colburn School.Source: Please note, Colburn only accepts TOEFL iBT scores from a single test date, notMyBest scores.University of Southern California. Source: USC does not accept “superscores” or TOEFL “MyBest scores.”University of Pittsburgh. Source: The University of Pittsburgh only accepts TOEFL iBT scores from a single test date, notMyBestscores.Princeton University Graduate School. Source: At this time, we are not accepting MyBest scores.Case Western University School of Graduate Studies. Source: The School of Graduate Studies does not acceptthe TOEFL MyBest Scores. Applicants must achieve a minimum of 90 on one exam date; exams will not be superscored.Columbia Law School. Source: No.University of Massachusetts Amherst. Source: note that wedo notsuperscore language tests (e.g. we do not acceptMyBestscores from TOEFL.)Carnegie Mellon University School of Music. Source: Please note: the School of Music only accepts TOEFL scores from a single test date, not MyBest scores.Northeastern University. Source: Northeastern does not superscore results from your English Language Tests, nor do we consider MyBestscores for applicants submitting results from the TOEFL iBT. University of Texas. Source: Please note that The University of Texas does not accept standardized test superscoring (e.g., GRE ScoreSelect or TOEFL MyBest Scores.SC Johnson School of Business (Cornell). Source: Johnson will not accept MyBest scores, as we do not superscore bands within the TOEFL.Boston University Graduate School of Arts and Sciences. Source: Please note that we do not accept the TOEFL “MyBest” scores.Pepperdine University. Source: Please note that Pepperdine does not accept TOEFL MyBest Scores'Mount Holyoake. Source: Mount Holyoke does not subscribe to the College Boards MyBest Scores test option.Kyunghee University. Source: ? ?? TOEFL iBT?? ??? ?? ??? MyBest scores? ???? ??(a single test date ??? ??)University of Warwick. Source: The University of Warwick only accepts TOEFL (iBT) scores from the single most recent test date, not MyBest scores.University of Sheffield. Source: We do not accept the TOEFL paper-based test, or MyBest scores. And also: source.Leeds University Business School. Source: Please note, we only accept TOEFL iBTscores from a single test date, notMyBestscores.University of Southampton. Source: The University of Southampton does not recognise MyBest scores and will only accept scores taken in one sitting within the 2 years immediately preceding the programme start date.University of Colorado. Unclear. I was told in a personal email that they do not. Another student told me that they do. Best to send an email and ask.

Essay on Effective Communication for Human Resource Mangers

Effective Communication for Human Resource Managers Communicating effectively is an essential competency for any professional and involves the performance of a range of first-, second- and third-person skills. This essay will discuss two predominant communication skills- feedback and questioning- that are of particular importance to the human resource (HR) management profession. A range of academic literature will be drawn upon to respectively define, describe, and relate each skill’s significance to the business environment. Furthermore, a reflective component of the attached video scenario will be evaluated to assess the effectiveness of skill demonstration and identify potential opportunities for professional development. Feedback†¦show more content†¦Feedback presents numerous advantages and is a relevant and constructive management tool. Feedback enables an honest and open flow of communication between two or more parties and provides insight and suggestions for continuous improvement. HR managers are required to identify and resolve issues occurring within the organisations in order to improve organisational effectiveness on a daily basis (Friedman, 2009). The feedback process enables managers to openly express any required changes in order to successfully see results. As evident in a study conducted by Chau (2012) feedback seeking has proven to enhance work performance as a result of increased role clarity and also improve public image within the organisation. The study also revealed that managers who were focused on establishing a feedback-oriented workforce experienced a more productive workforce and improved relationships and trust with employees (Chau, 2012). The same study also ackno wledged a correlational relationship between supportive feedback and increased work performance, therefore it is important to ensure feedback is delivered with caution. The absence of feedback could maintain or generate problems within an organisation, therefore it is important for feedback to be performed, however it is crucial to ensure the skill is communicated effectively. 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Steady, consistent, and gradual building of management skill s with one new idea implementation at a time will most likely result to a sustained improvement and change. Key skills that every manager should have i. Communication skills Generally, a manager with excellent communication skills has the ability to listenRead MoreThes Dental Clinics Goals, Objectives And Future Direction1603 Words   |  7 Pageshealthcare provider which do not have shareholders and have reinvested all their profits into providing better healthcare. Bupa s purpose is longer, healthier, happier lives and their focus is becoming more eco-friendly, provide more healthcare resources to future customers and society as stated on Bupa’s website (Bupa.com). Bupa s Goals and Objectives The table below highlights Bupa’s goals and objective. The goals are what Bupa want to achieve and the objective are how they will they will

A Modest Proposal Summary - 1767 Words

1.The implied thesis of Swift’s â€Å"A Modest Proposal is that 18th century Ireland would be in a better situation if the Irish society and monarchy actually treated problems such as overpopulation and poverty, While the overt thesis is that Irish people should consider eating their children and selling them to rich Englishmen to solve the issue of poverty and overpopulation in the country. They differ from one another as one focuses on eating children, while the other focuses on giving commentary through the essay itself. 2.The primary aim for the narrator is to suggest a reflection on how the Irish are treating the problems happening within their country through satirical writing. The narrator states that, â€Å"Infant’s flesh will be in season†¦show more content†¦4.The â€Å"very knowing American† is added to further drive the point that this work is satirical. At the time this was written America was going through a very difficult time while under British control, and talk of a revolution had started to begin. America in some aspects was in a similar position Ireland was at the time – so by saying â€Å"I have been assured by a very knowing American of my acquaintance that a young healthy child well nursed is at a year old the most delicious, nourishing, and wholesome food.† (Swift) This boosts the satirical nature, as you should never take advice about getting out of a situation from someone still going through the same exact situation. 5.The appropriate response to this essay would be the reader reflecting on the point of the essay, but instead of reflection, it more than likely received massive disapproval. The ides themselves are not only morally and ethically wrong, but nonsensical. The concept of eating another human would destroy what separates us from wild animals. So, it would make sense that the Irish may have been mad. Due to the time, itShow MoreRelatedA Modest Proposal Summary1153 Words   |  5 Pages1. The implied thesis of Swift’s â€Å"A Modest Proposal is that 18th century Ireland would be in a better situation if the Irish society and monarchy actually treated problems such as overpopulation and poverty, While the overt thesis is that Irish people should consider eating their children and selling them to rich Englishmen to solve the issue of poverty and overpopulation in the country. They differ form one another as one focuses on eating children, while the other focuses on giving commentar yRead MoreSummary Of A Modest Proposal 1304 Words   |  6 Pageseconomical problems such as poverty and overpopulation. Throughout Swifts writing we are able to recognize many things such as his purpose for writing â€Å"A Modest Proposal† and how it’s achieved, the form of emotional and logical appeal he uses to draw in his readers, along with his strongest and weakest elements in his text. 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Marketing Mix †Literature Review and Company Example Free Essays

Marketers develop strategies for each of these components to facilitate mutually satisfying exchanges with a target market. (Lamb et al, 2009). Each or all of the components are variable and may be fine tuned, depending on external and internal influences, to achieve the best blend that will produce the desired result for the companies offering. We will write a custom essay sample on Marketing Mix – Literature Review and Company Example or any similar topic only for you Order Now This report describes a literary review of each of the four components and an example of how each is implemented in a real world scenario. 3Marketing Mix 4P’s Place Literary Review The â€Å"place† component of the marketing mix 4P’s refers to the distribution channel through which products are marketed and sold. In the view of Lodish et al. (2001) distribution encompasses all the activities that need to be performed so that the product’s offering bundle is transfered productively from seller to customer who will buy and benefit from the offering. Similarily Lamb et al. (2009) state marketing channels facilitate the physical movement of goods through the supply chain, representing â€Å"place† in the marketing mix and encompasses he processes involved in getting the right product to the right right place at the right time. In the book Rethinking Marketing, Hakansson et al. (2004) quote the wording of Kotler (1991) which describes â€Å"place† as various activities the company undertakes to make the product easily accessible and available to target customers The choice of distribution channel, and which intermediaires are involved between the seller and final customer, through which the transfer occurrs and how these are managed has a big impact on the offering bundle. Lodish et al. 2001) Selection of the distribution channel(s) will determine whether the product is sold directly, indirectly or both (multichannel distribution). Trade-off’s and balances will be determined depending on how direct or indirect the distribution system is designed (Lodish et al. 2001). Selling direct may reap higher margins and profitability but at a possible cost of lower sales volumes. Selling indirectly through distributors may produce higher sales volumes but at a lower profit margins.The choice of direct channel distribution only offers one route from the manufacturer to the end user, direct. 4 The choice of indirect channel distribution requires further evaluation and assessment as there are a mulitude of routes from the manufacturer to the end user ie, multiple distributors, exclusive distributors, wholesaler, retailer, franchisee, value add reseller, agent etc. The choice of sales channel maybe somewhat limited by the type of product on offer, ie sweets and candy require a different marketing channels to luxury cars or industrial machinery (Lamb et al. 009). The literature reviewed highlighted multiple variables and considerations that need to be assessed when establishing marketing channels. In all the literature was there no mention of the environmental impact that marketing channel decisions can have. The place component of the marketing mix is fundamentally concerened with how the product gets from manufacturer to buyer, therefore it is inevitable that marketing place decisions will have some impact, good or bad, on the environment.In a world pre-occupied by climate change and consumer concern and awareness of the environmental impact of everything we do, it can surely only be a matter of time before consumer awareness starts questioning and rationalising the real cost of distribution channels utilised by manufacturers. Will consumer pressure permit goods to be manufactured and transported half way around the world when similar goods, produced locally, are available? The world, consumer awareness and the marketing mix, including the place and distribution channels, are constantly evolving.Will tomorrows marketers and entrepeneurs have to include environmental cost as a criterior in their evaluation of sales and distribution channels? Will proximity of where a product is produced and ultimately sold become a factor in establishing the marketing distribution channel? How will this influence or be reflected in the various common concepts of â€Å"place† mentioned in paragraph 2, ie delivering the right product to the right right place at the right time? 5 Company Example of Marketing Mix 4P’s Place – Ritchie Bros.Auctioneers Ritchie Bros. Auctioneers (RBA) is the world’s largest industrial auctioneer, with 39 auction sites located worldwide. RBA sold US$3. 57 billion of used and unused equipment at 340 unreserved auctions in 2008, including a wide range of heavy equipment, trucks and other assets for the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. (http://www. rbauction. com/index. jsp) RBA offer a unique sales proposition to both sellers and buyers of equipment at their auctions. Having a reputation for conducting fair ethical auctions, without artificial price manipulation, every RBA auction is unreserved, meaning there are no minimum bids and no reserve prices. Every item is sold to the highest bidder on auction day, regardless of price. (http://www. rbauction. com/buying/buying-benefits. jsp) All buyers (bidders) cannot resist the chance or opportunity to purchase something below its intrisic value. Conducting unreserved auctions provides the opportunity for this to occur and thus generates a large stream of potential fee paying bidders. For the sellers of equipment, RBA conducting unreserved auctions provides them with a pool of targetted and focused potential buyers for their equipment, and a guaranteed minimum sell price, provided by RBA. Although RBA are not a manufacturer of any physical product, the â€Å"product† they are selling is the conducting and facilitation of unreserved auctions. This product is sold directly to a large worldwide customer base of equipment buyers and traders and no intermediaries, franchisees or agents are used. Equipment ready for auction 6The cornerstone of RBA business is their database of potential bidders (buyers) to whom they target marketing material directly. The advsertising department is their secret weapon and by the 1980’s had built a preeminent mailing list of over 100,000 potential buyers to whom brochures are mailed prior to all auctions. (Rodengen 2001) Considering the growth of the company since then it can be safely assumed today’s direct mailing list is now many times this Sample direct mail flyer. Millions of these are sent out annually directly to customers. size.RBA revenue is generated from 10-20% sales commission, charged to the buyer, on every product sold. The key to their business success is their direct access to a large number of bidders (RBA customers) and their willingness to participate in unreserved auctions, always looking for a bargain. RBA are able to aggorgate large amounts of new and used equipment under one roof in one auction and thus provide potential buyers with right product at the right place at the right time. RBA are a worldwide organisation and the epitomy of direct marketing.RBA direct marketing approach to customers is legendary in generating customer loyalty and satisfaction and the organisation is very open and approachable from the top down. The pre auction barbecue parties are an important part of the overall auction event giving the staff, from company owner downwards, the chance to mingle with customers and make contacts (Rodengen 2001). 7 Their customer service approach is in total contrast with other large direct marketing channel corporations whose management and owners generally remain annonmous, distant and isolated. An auction taking placeIn 2004 RBA introduced live internet auctions enabling biddings from anywhere in the world to bid on any piece of equipment and thus virtually bring the product to the buyer, where ever they may be. â€Å"RBA auction brochures are sent to buyers around the world to ensure the success of the sale is not completely reliant upon local bidders. † (Rodengen 2001) 8 Marketing Mix 4P’s Product Literary Review Product is the most important element of the marketing mix. Without product, an organization will not be able to determine or carry out the entire element in the marketing mix.Suffice to say that without a product or service to sell, there would be no business (Pigden. J ; Foley. J, 1999). Product can be tangible or intangible; it can be a physical good, service or even an idea such as advertisement. Tangible values include values which can be measured or touched such as the audio system of your home. Intangible values are values that cannot be measured or touched such as the enjoyment the customer will get from the product. Remember that you do not sell a ‘product’ to a customer, but you sell a ‘benefit’ that the product gives to the customer (Westwood. J; 2002).It is important that a product is continuously improved to bring it up to date and prevent it from being overtaken by competitors. For example, Hero, a company with various products in the food sector but a low market share in the breakfast cereal category, was thinking about how to gain market share in the cereals market. The breakfast cereal category was highly fragmented and saturated with varieties. Hero was not finding opportunities within this market. The solution was to redefine the utility of the cereals. Instead of marketing them as a breakfast complement, the thought occurred to sell them as a healthy snack at any time of the day.By merging the concepts of cereals and chocolate bars, a new category was born: cereal bars. This product was a breakthrough and today we consider it something standard. 9 A product must have the right features and supporting elements such as attractive design, function well, warranties, guarantees, after sales support and so forth. ? Pricing must be right – company will generate a healthy profit when consumers purchase in bulk. ? Placement of product goods must be in the right place at the right time. Ensuring that the goods arrive when and where they are wanted is an important operation. Promotion is a key aspect of marketing mix. It involves disseminating information about the product and advantages of the product to the target consumers. Promotion can be divided in to above the line and below the line. A successful promotion plan will help a company to spread costs over a larger output. When producing a product it is vital to consider the needs of target consumers. The product element is the product itself, getting the price right involves examining customer perceptions and rival products as well as costs of manufacture, promotion involves engaging in a range of promotional activities e. . competitions, product popularity etc, and place involves using the best possible channels of distribution such as leading supermarket chains depending on what is the nature of the business. The product is the central point on which marketing energy must focus. Finding out how to make the product, setting up the production line, providing the finance and manufacturing the product are not the responsibility of the marketing function. However, it is concerned with what the product means to the customer. Marketing therefore plays a key role in determining such aspects as: ?The appearance of the product – in line with the requirements of the market ? The function of the product – products must address the needs of customers as identified through market research. The product range and how it is used is a function of the marketing mix. The range may be broadened or a brand may be extended for tactical reasons, such as matching competition or catering for seasonal fluctuations (Kotler. P ; Bes. F; 2003). Alternatively, a product may be repositioned to make it more acceptable for a new group of consumers as part of a long-term plan. 10Company Example of Marketing Mix 4P’s Product – Qian Hu Corporation Therefore, a good example would be Qian Hu Corporation Limited. It is an integrated â€Å"onestop† ornamental fish service provider ranging from breeding of Dragon Fish, farming, importing, exporting and distributing of ornamental fish as well as manufacturing of aquarium and pet accessories and distributing them to local and overseas customers. Its product elements in the marketing mix can be categorized into three main areas which are manufacturing of fish and pet accessories, manufacturing of plastic bag and farming, importing, exporting and distributing of ornamental fish.Ornamental Fish The Company currently involves the wholeprocesses of import, export, breeding, quarantine, conditioning, and farming and distribution activities. All this decorative and attractive fish are imported from countries in South-East Asia, South Sample product ornamental fish America and Africa which then be bree d in Singapore whichever can. The Company currently exports more than 500 types of species and varieties of ornamental fish directly to more than 80 countries as well as distributes to local retailers and exporters.The ‘Dragon Fish’ which the Company breeds is increasingly regarded as a premium brand in Northeast China and spreading fast across the whole China. Accessories The Company does not only provide fish as their only product as they care and think of customers’ needs and wants. Therefore, Qian Hu take a step further by distributing, supply and selling of pet and fish accessories complements the ornamental Sample product accessories fish operations as a complete â€Å"one-stop† shop. 11 The Company distributes more than 5000 types of aquarium and pet accessories for more than 20 major manufacturers and principals to local retailers and o wholesalers in Asia, including supermarkets operated by NTUC FairPrice, Cold Storage, Carrefour, Lotus and Tesco, etc. Other than that, Qian Hu has developed its own brands of aquarium and pet accessories under the name â€Å"Ocean Free†, â€Å"Delikate†, â€Å"BARK†, â€Å"Nature’s Gift† and â€Å"ARISTO-CATS YI HU†. The Group also has production facilities in Guangzhou, China to manufacture aquarium and pet accessories for the Group as well fo r other businesses. Plastic bags As an ancillary business, the Group manufactures plastic bags for its own use in the packing of ornamental fish for sale in a separate factory located in Woodlands.The plastic bags are also supplied to third parties in the ornamental fish, food and electronics Sample product plastic bag industries. 12 Marketing Mix 4P’s Pricing Literary Review In the simplest sense, price is that which is given up in exchange for the good or service. Price is also previously called fees , tariffs , charges , interests. (Kotler P, Bes TD, 2003) Among the 4 main element present in the marketing mix ; Price is the only element that produces revenue; all other elements represent costs.Price has the utmost flexibility among all the elements of the marketing mix. Pricing can be changed quickly as it is not bounded by fixed components such as product features or channel commitment. At the same time, pricing is the key issue faced by many organizations small and large alike. (Hussey D, 1998) Factors to consider when setting price Before setting a price, the company must decide on its objectives for the product. Objectives are divided into 3 main classes as follow; 1. Profit –Oriented Pricing Objectives 2. Sales – Oriented Pricing Objectives 3.Status-Quo Pricing Objectives Many companies use current profit maximization (profit- oriented pricing objectives ) as their pricing goal. They estimate demand and costs will be at different prices and choose the price that will produce the maximum current profit, cash flow, or return on investment. 13 Other companies want to obtain market share leadership (sales-oriented pricing objectives ) To become the market share leader, these firms set prices as low as possible. Strategy for the above objectives are as follow ; 1. Price Skimming When you are offering a new or innovative product you can initially charge a high price, since the â€Å"early adopters† aren’t very price sensitive. Then you lower prices to â€Å"skim† off the next layer of buyers, etc. Eventually, the price will drop as the product matures and competitors offer lower prices. 2. Penetration Pricing You set a low initial price in order to penetrate quickly into the mass market. A low initial price discourages competitors from entering the market, and is the best approach when many segments of the market are price sensitive.Amazon. com, for example, offers a discount price and may lose money on the first sale, but this way they gain more customers who will purchase products later at a lower marketing cost (since it costs much less to attract them back for the second or third sale if they are happy with their first purchase experience). Cheap products are not taken seriously by some buyers unless they are priced at a particular level. 3. Odd-even pricing takes advantage of human psychology that feels like $499. 95 is less than $500.Studies of price points by direct marketers have found that products sell best at certain price points, such as $197, $297, $397, compared to other prices slightly higher or lower. 4. Bundle pricing is offering two or more products together in a single package price. This can offer savings to both the buyer and to the seller, who saves the cost of marketing both products separately. And the customer is willing to pay more because he perceives that he is getting a lot more, even though the cost to the seller may not really be that much more. 4 Considerations to be taken in when choosing a strategy for pricing are divided into 4 main classes as follow ; 1. Unfair Trade Practices 2. Price Fixing 3. Price Discrimination 4. Predatory Pricing Two Main pricing objectives stand out : ? To maximize short –term profits. Here you try to squeeze as much money out of the sales of the product as possible , even though fewer customers may make a purchase of the product. Strategy maybe to charge premium prices for website design services.However it may result in fewer customers , but then dealing with a lot of customer multipiles your problems. ? To gain market share , the other main strategy is to price your service lower to gain market share. The profit may decrease however , we can slowly fine tune the prices back as time passes (Holden K, 1994). Pricing Approaches Here are some cost-oriented approaches to pricing that I’m sure you are familiar with: ? Standard mark-up pricing. Typically a manufacturer marks his price up 15% over his costs, a wholesaler 20% over his costs, and a retailer 40% over his costs.The retailer gets a larger markup based on the idea that, since he is closest to the end user, he is required to spend more services and individual attention meeting the buyer’s needs. ? Cost-plus pricing adds a small percentage to the retailer’s costs — and â€Å"cost plus 5%† sounds so harmless and will in turn attract buyers. 15 ? Experience curve pricing assumes that it costs a company less to produce a product or provide a service over time, since learning will make them more efficient. Then there are competition-oriented approaches to pricing that you’ll recognize: Customary pricing is where the product â€Å"traditionally† sells for a certain price. Candy bars of a certain weight all cost a predictable amount — unless you purchase them in an airport shop. Example at vivocity candy empire ? Above-, at -, or below-market pricing. Certain stores advertise â€Å"low cost† or â€Å"discount† pricing. Others price at the market, while others deliberately price abovethe-market at premium prices to attract prestige buyers. ? Loss-leader pricing works on the basis of losing money on certain very low priced advertised products to get customers in the door who will buy other products at the same time. Flexible-price policies offer the same product to customers at different negotiated prices. Cars, for example, are typically sold at negotiated prices. Many B2B sales depend on negotiated contracts. Marketing element pricing main key points are what price level to adopt after comparison with the market trends and analyst ,various competitors price range and consumer perception towards the pricing ; Specific prices to adopt ; price policy such as one price or varying price price maintenance , usage of list prices ; Profit margin to adopt for the price or the entire trade itself . Borden, N H, Baker M J 2001) Last but not least many companies fine-tune the base price with other pricing tactics such as discounts , allowances , rebates , value –based pricing , geographic pricing and other pricing tactics. 16 Company Example of Marketing Mix 4P’s Pricing – Qian Hu Corporation Taking into consideration Qian Hu key competitive strengths as follows: ? Proven track record for the quality of fishes which they bred ?Having their own factories in china Quangzhou which inevitably results in the choosing of the Pricing objective – ( Profit Oriented ) Strategy – ( Price Skimming Strategy ) Therefore, a good example would be Qian Hu Corporation Limited. It is an integrated â€Å"onestop† ornamental fish service provider ranging from breeding of Dragon Fish, farming, importing, exporting and distributing of ornamental fish as well as manufacturing of aquarium and pet accessories and distributing them to local and overseas customers.Q ian Hu Corporation has its own manufacturing factories based in Guangzhou china and given the fact that they have a proven track record of quality for its fishes hence the pricing is slightly above average. Advantages ; ? High Profit margin as there is the absence of a middle man in the product life cycle ? Perceived Premium quality fish bred by QIAN HU Corporation Disadvantages ; ? High Prices attract entries of new competitors ( however this will not affect Qian Hu Corporation much as they have a wide network around the world and ith their given reputation they have quite a solid foothole in the ornamental fish industry) 17 Due to the fact that the company is acting as the one of the main exporter in the industry of ornamental fish and also the foremost agent in the product life cycle hence their pricing objectives would be profit oriented and strategy that they applied is price skimming. 18 Marketing Mix 4P’s Promotion Literary Review Promotion is defined as an activity, s uch as a sale or advertising campaign, designed to increase visibility or sales of a product. (http://www. investorwords. om/3897/promotion. html) Promotion is one of the most exciting elements in the marketing 4 Ps. The word â€Å"promotion† excites both business owners and end users. To business owners successful promotion campaigns bring high sales revenue to the company and at the same time increasing its products awareness and gain market share. To end consumers, promotion campaigns mean that consumer can get the product that they want at a special price or come with free gifts or bundle. Successful promotion campaign is like a â€Å"bridge† that brings business owners and consumers together. Promotion for different product mix is happening every single second in our daily life. Within promotions, there are many modes of promotion activities available to drive Sales Revenue. They includes Personal Selling, Sales Promotion, Public Relations, Direct Mailer, Trade Fair and Exhibitions, Advertising and Sponsorship just to name a few. All of these elements are closely knit together for a product launch or marketing campaign. 19 Sales Promotion. Sales promotion is the act of influencing customer/ consumer perception and ehavior to build market share and sales that reinforce brand image (Kotler et al. , 2006) However defined, the following statements by industry respresentives provide perspective on what is expected from Sales Promotion ? â€Å"Providing consumers with a reason – beyond price – to buy now or again. † – Kelvin Smith, Kellogs ? â€Å"Reinforcing the brand and creating an action† – Shireen Moore, Communicator ? â€Å"Giving consumers a reason to buy now. ’ – Pam Laufman, Nickeloden Sales promotion tends to be thought of as being all promotions apart from advertising, personal selling, and public relations.For example the BOGOF promotion, or Buy One Get One Free. Others include couponing, money-off promotions, competitions, free accessories (such as free blades with a new razor), introductory offers (such as buy HDMI TV and a Free HDMI Player plus free installation), and so on. Each sales promotion should be carefully costed and compared with the next best alternative. 20 Advertising Advertising is the paid promotion of goods, services, companies and ideas by an identified sponsor. Marketers see advertising as part of an overall promotional strategy (http://www. wordiq. om/definition/Advertising) Advertising is often used to create awareness, gain consumers’ mind share, develops attitudes and transmit information in order to gain a response from the target market. There are many advertising ‘media’ commonly available such as ? Daily newspapers (Straits Times, The New Paper, Sin Min, Wan Bo, Business Times) ? Magazines (Human Resource Magazine, MediaCorp’s I Weekly Magazine, Go Magazine, FHM), ? Television (Mediacorp Channels, Starhub Cable TV) cinema ? Outdoor advertising (such as posters at Bus Stops, Posters on SMRT, Taxi and bus sides) and ? Internet advertising (such as Google Ads, Yahoo Ads, MSN).Advertising is a â€Å"Paid For† communication and often, one of the more expensive way compared to direct mailer. How much to pay for Advertising is often in relation to the scale of the marketing campaign and how much mindshare and revenue that the company hope to achieve from the consumer. 21 Company Example of Marketing Mix 4P’s Promotion – Comat Training Services Pte Ltd Established in 1984, COMAT is an established leader in Information Worker Education ; Training over the last 25 years. COMAT is invested by Singapore Technologies Electronics, through its subsidiary ST Elect (Training ; Simulation). As a natural extension, COMAT is the extended training arms to ST Elect (T;S). COMAT offer internationally recognized certification programs from Microsoft Certified Application Specialist (MCAS) for Office 2007, Microsoft Office Specialists (MOS) for Office 2003/XP, International Computer Driving License (ICDL) to in-house developed programs in performance-centric SkillzXpressâ„ ¢ series. It also remains fully cognizant with advance technologies and offers comprehensive technical training programs for IT Professionals and Developers. These programs cover vendor-centric technologies such as Microsoft and IBM to Open Source Training.COMAT serves 3 major sectors. ? Public Sector – Government Bodies, Government Step boards and Agencies ? Corporate Sector – Major MNCs Companies and SMEs ? People Sector – Consumers COMAT has always been engaging Corporate and Public Customers using the B2B (Business to Business) business model for the last 25 years. Realizing that there is a huge demand in the consumer market for Microsoft Certifications (both technical and end users), Project Management and ITIL (Information Technology Infrastructure Library) Certifications, COMAT has decided to compete in the consumer market in 2004. 2 To gain market mind share and product awareness, COMAT held regular promotion for Microsoft Advance Technologies Certifications, Microsoft Information Workers Certifications and Project Management courses and certifications. The methods of promotion adopted by COMAT marketing team, are advertising on newspaper (via Straits Times, Today Newspaper), corporate magazine (Via Human Resource Magazine), internet advertising (via yahoo and Google search ads) and also participate in regular road shows, exhibitions and seminars to gain public awareness.COMAT also uses promotion strategy like bulk discounts, Buy One Get One Free (BOGOF) and Certifications bundling at special promotion rates. Types of promotions strategies adopted by COMAT Sales Promotion Sales promotion is the most commonly used promotion strategy in the training industry. This strategy is often used by COMAT to promote newly launch products or current â€Å"Hot† products. Being consumer of 20th century, one of the buy ing factors that the consumer will consider before buying anything is the price of the certification that they have to pay and also what kind of bundling the training company is offering.The consumers will normally compare the sales promotion prices and how the certification is bundled within competing companies that offer the same solutions, therefore a good promotion strategy is critical to the success of a good company. Advertising on daily newspapers and corporate magazines This is one of the most effective promotion strategies as it has one of the best reach to the consumer market. Advertising on complimentary newspaper like Today has enabled the company to reach out to close 3 millions readers each day hence enhancing the consumers’ awareness on COMAT’s product, services and sales promotion. 3 Seminars COMAT has been conducting short regular seminars on subjects like Project Management, Microsoft Certifications and customized Microsoft Office â€Å"Brown Bag† sessions as part of its customer retention and customer acquisition program. Seminars are conducted in â€Å"Tips and Tricks† style of delivery. The speaker will cover the essential tips in their areas of expertise in a lighthearted and stress free environment to encourage learning. Attendees who have attended these seminars will gain some quick takeaways from the session. Promotion booths are set up to promote CO MAT’s courses in the seminar location. Each of the attendees will be given a handout for the information on the seminar as well as the sales promotion for some of the company offering. These handouts are all prepared by the marketing teams before commencement of seminars. Some of the seminars conducted have over 200 attendees. These seminars have created face to face opportunity chance for the sales people to engage with potential clients who attends the seminar. Electronics Direct Marketing (EDM) COMAT use EDM as a monthly update to existing customers on the latest offerings and new products. How to cite Marketing Mix – Literature Review and Company Example, Essays

Turkeys Currency And The European Union

Question: Describe about the Turkeys Currency And The European Union. Answer: The decision of cooperation with regard to Turkeys attainment of European Union (EU) was continuing since last 50 years in different form of partnership between them. The primary part of this negotiation was depended on the increased trade and economic coordination between Turkey and EU. Since 1963, Turkey is been the associate member of EU and officially it was the membership candidate of European Union since 1999. On December 2004, the Council of Europe planned to negotiate with regard to Turkish attainment to the European Union on October 2005. The decision taken by EU motivated intense response all around the political forces and among all the citizens of Europe. The argument related to Turkeys attainment was very intense as compared to the environment in which the cooperation started. This paper discusses about the impact of Turkeys membership into the European Union (EU) on the economy of the country and the impacts on Turkey from the currencys point of view. The impact of Turkeys membership into the European Union (EU) on the economy of the country and the EU is still under sudden debate. Turkey is associated with a large number of trade activities with the members of the EU. In fact, Europe is the largest trading partner of Turkey. During the year 1999, 54% of Turkishs exports and 53% of Turkishs imports went to and came from the EU countries only. In this context, Cengiz and Hoffmann (2013) stated that around 54% of the Turkeys official reserves comprises of Euro with eleven currencies and the euro itself. On the other hand, foreign exchange deposits related to workers of Turkey in other nations and those held in the Central Bank of Turkey is estimated to be around 11 billion euros. From the perspectives of debts, the total external debts amounts to around USD 106 billion out of which around 34% are in Euro with 11 currencies and the euros itself. On the other hand, around 60% of the direct foreign investments in Turkey did come from Europe during the past five years. The above data clearly indicates the strong relationship between Turkey and the EU nations also highlights the role of euro in Turkey. In the view of ni? (2014), with regard to the economy of Turkey, considering the width and depth of Turkeys association with the EU, there is very little doubt that the creation of the European currency and euro would have a strong impact on the Turkish economy in future. If it is assumed that euro as a currency is acceptable to global financial markets as a strong reserve currency then in both long term and medium period in future the share of euro as a currency in the financial accounts of Turkey is likely to increase. Some economists think that the acceptance of euro in both the regular life and monetary transactions in Turkey will come faster in the country compared to other nations. This is mainly because of three major reasons as high number of Turkish citizens staying in Europe, high trade volume tourism transactions taking place in the Europe and consistency of deutsche mark for over 20 years.The introduction of euro has resulted in the decrease in transaction costs and elim inated the risks associated with volatility of currencies. This further increases the incentives in relation to the capital markets of Europe to depend heavily on direct financing. In addition, an efficient and liquid bond market of euro is expected to be popular among the private bond issuers Turkish sovereign. Rising acceptance of the euros in financial transactions and trade in Turkey is combined with an environment of low inflation would make direct investments in the country more attractive to the EU. Rising acceptance of the euros in financial transactions and trade in Turkey however this is combined with an environment of low inflation would make direct investments in the country more attractive to the EU. In this context, Startin and Krouwel (2013) expressed that with the increasing acceptability of euros both European and Turkish banks are expected to raise their merger acquisition activities. The success over here would still depend on the acceptance of the new currency by the people of EMU along with other nations. The quicker this acceptance is achieved, higher would be the strength of the euro as a currency in both longer and short-term period. Here, depreciation of the euro against the USD has badly affected the confidence of people in euro (AydIn-Dtizgit and Keyman, 2013). Here, it is a good time to explain the way in which variability in euro/dollarcurrency rate has impacted the economy of Turkey. A poor valuation of currency euro might impact the economy of Turkey in two major ways. Firstly, because of the role of euro in the new currencysystem of Turkey and secondly, by thehigh share of EU countries in the international trade. During the start of the year 2000, a comprehensive program for disinflation was launched in Turkey on the basis of a pre-declaredroute of the lira as against a specific basket currency which consisted of 1.00 USD + 0.77 Euros (Bulmer and Lequesne, 2013). This program has been quite successful in the country in reducing the inflation rate. However, fast appreciation of the USD against that of euro as a currency in global markets have somehow badly affected the impact of basket of exchange rate on the rate of inflation. Also, chances of Turkish lira regarding depreciation are quite high as well. On the other hand, the portfolio in Turkish economy has great impact on EU if the euro is valued at low level. During the end of September of 2000, the total amount of foreign deposits in the commercial banks of Turkey had amounted to around USD 43 billion out of which around 27% comprises of euros which had already reduced in value by 38.5% since the end of 1998 (Keyman and Iduygu, 2013). However, the share of USD also increased from 558% to 71% during the same period. The ideal of independent or autonomous central banks is one of the core issues for the nations in the EU. Thus, Turkey is currently examining its own banking regulations to identify the things that need to be done to raise the standards of banking system as promulgated by the European system of central banks (Terzi, 2016). The central bank of Turkey has made price stability as the principle goal of monetary policy at present. It is recommended for Turkey to introduce a single currency which would allow it to reap complete benefit from this in the long-run. However, at present, Turkeys currency is mainly concerned with achieving price stability. In this context, Azrout et al. (2013) mentioned that price stability for Turkey can be viewed as a relationship between old expectations associated with euro and potential economic benefit of that could arise from a single currency system. Geographically also, Istanbul lies at the economic heart of Turkey (Noutcheva and Aydin-Dzgit, 2012). This nation is invaluable to bridge the gap between Europe and Asia. Here, unique geo-strategic position of Turkey along with the strength of NATO army could help Turkey in improving the European security system. The coup in 2016 indicates that Turkey is not still matured in terms of European style democracy as its political system is a tussle between Islamists from various groups and overbearing military. Human rights are badly abused in this nation. These issues could lead to get opposed view from public in the EU regarding its membership in the EU. On the other hand, Turkey need to consider certain key economic concerns. Its average GDO growth rate is around 3.5% and the nation was also able to sustain the global recession better than many nations in the EU. The public finances of Turkey are envy to that of Southern Europe (zer, 2016). There has been substantial increase in the per capita income of the country by six fold and in fact on an average, a Turk is much better off than counterparts in Bulgaria and Roman. However, bringing such a dynamo could inject new life to the economy of EU along with adding 75 million customers to the single market. From the above discussions, it can be concluded that the negation between Turkey and and EU will have considerable impact on its economic condition but it is controllable and it is far less as compared to the enlargement of Eastern European countries. If it is considered that as a currency Euro is acceptable in financial markets globally, as a tough reserve exchange then for long period and short period in future the euros share as an exchange in the financial accounts of Turkey is likely to increase. Some economists also feel that the acceptance of euro in monetary transactions of Turkey will come faster in the country compared to other country. It will also facilitate the free trade between Turkey and EU. However, it is advised to introduce a single currency so that stability can be achieved in the currency term and indication of debt can be recovered. Further, it will help to create the freedom factor related to capital, goods, labor and services with few special measures and tran sitional arrangements. Reference List: AydIn-Dtizgit, S. and Keyman, E.F. (2013). 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