http://www.canada.com/story.html?id=863404
Summary
This article clearly lets the reader know the huge difference between the public and private health care systems. Private clinics charge $3,900 the first year and $2,900 every year onwards. Visibly, bystanders were able to distinguish a major distinction between the two different types of office. In a private office such as Copeman’s Healthcare Centre, there were “sleek furniture, oil paintings, and seasonal fruit”, whereas in a normal public clinic, the waiting rooms were overfilled with severely sick patients.
Connection
Having private health clinics may sound like something that citizens can gain from, but this strongly depends on the patient’s income level. The government plays a big role in controlling this factor, trying their best to achieve a balance. Currently Canada has a public health care system where everyone is equal. Whether a person is rich or poor, their access to health care is the same. The severity of the patient’s sickness determines how the medical professionals will treat them. Each and every patient pays the same fee for the same check-up or the same treatment. On the other hand, in a private health care system like US, the citizens with more cash are eligible for more service and better service.
Reflection
This huge discrepancy between the public and private health care systems only adds to the gap between the rich and the poor. I like the way Canada’s health care system is operating at the moment. Having a public health care system like ours will ensure that every patient will get their needs met in order of priority. Doctors and nurses will treat everyone the same whether they’re rich or poor. This equality towards everyone will give the citizens more confidence in their government. The government setting regulations on the health care system, to ensure that all the needs of the citizens are met, lets everyone know that the government is looking out for them. This is why I am in favour of the public health care system that our nation has.
Tuesday, November 18, 2008
Wednesday, October 15, 2008
Chapter Two: Demand / Supply
http://www.canada.com/theprovince/news/money/story.html?id=b8cd8389-5d2c-48ab-be30-584cc049ed45
Summary
Prices for diamonds are significantly rising. Because of the limited global supply, diamonds are very unlikely to meet the expected demands. Beginning 2007, prices of some three-carat diamonds have already risen fourfold. The stocks of Harry Winston, a renowned and luxurious jewellery store has rose from $1.52 to $14.54 at 1:24pm on October 1st. This jump of 12 per cent is the largest one-day increase since November 4th, 1999. “Rough diamond supply is likely to fall short of expected demand within the next three to five years,” RBC Capital Markets analyst Des Kilalea told clients on August 27th.
Connection
This article is related to what we have learned in chapter two in a sense that demand and supply are interconnected. The demands for diamonds have always been high due to the belief and theory that diamonds are the best presents any girl could possibly get. Because diamonds are a non-renewable resource, the quantities available for extracting from our Earth’s mines are limited. When demand is high and the supply is low, like the diamonds, we have a rapid increase in the value of the substance. Diamonds don’t really have a substitute other than the other rocks, but they don’t seem to be too popular, so diamonds continue to have that slowly but steady rise in demand.
Reflection
Growing up, I’ve constantly heard the phrase, “Diamonds are a girl’s best friend”. Perhaps because we’ve been brought up in a society where diamonds are the most expensive and most exquisite jewellery out there, everyone has this impression that it is true. In events of special occasions such as a man proposing to the love of his life, it is almost a guarantee that they will get engaged with the help of a diamond ring. As people continue celebrating milestones in their lives, the demand of diamonds will continue to soar. With the demand increasing, supply will decrease alongside, which will result in an increase on the price of diamonds. When it comes to the time that I get proposed to, even though its unlikely, I hope the price for diamonds won't be as high as they are now. Better yet, it might be a wiser decision for my future fiancé to buy me another stone for our engagement. But it appears that most countries are heading if not already in recession, so that would mean citizens are unlikely to spend money on items that aren't neccesities. With people holding onto their money and unwilling to spend it, the demand of diamonds may slowly decrease.
Summary
Prices for diamonds are significantly rising. Because of the limited global supply, diamonds are very unlikely to meet the expected demands. Beginning 2007, prices of some three-carat diamonds have already risen fourfold. The stocks of Harry Winston, a renowned and luxurious jewellery store has rose from $1.52 to $14.54 at 1:24pm on October 1st. This jump of 12 per cent is the largest one-day increase since November 4th, 1999. “Rough diamond supply is likely to fall short of expected demand within the next three to five years,” RBC Capital Markets analyst Des Kilalea told clients on August 27th.
Connection
This article is related to what we have learned in chapter two in a sense that demand and supply are interconnected. The demands for diamonds have always been high due to the belief and theory that diamonds are the best presents any girl could possibly get. Because diamonds are a non-renewable resource, the quantities available for extracting from our Earth’s mines are limited. When demand is high and the supply is low, like the diamonds, we have a rapid increase in the value of the substance. Diamonds don’t really have a substitute other than the other rocks, but they don’t seem to be too popular, so diamonds continue to have that slowly but steady rise in demand.
Reflection
Growing up, I’ve constantly heard the phrase, “Diamonds are a girl’s best friend”. Perhaps because we’ve been brought up in a society where diamonds are the most expensive and most exquisite jewellery out there, everyone has this impression that it is true. In events of special occasions such as a man proposing to the love of his life, it is almost a guarantee that they will get engaged with the help of a diamond ring. As people continue celebrating milestones in their lives, the demand of diamonds will continue to soar. With the demand increasing, supply will decrease alongside, which will result in an increase on the price of diamonds. When it comes to the time that I get proposed to, even though its unlikely, I hope the price for diamonds won't be as high as they are now. Better yet, it might be a wiser decision for my future fiancé to buy me another stone for our engagement. But it appears that most countries are heading if not already in recession, so that would mean citizens are unlikely to spend money on items that aren't neccesities. With people holding onto their money and unwilling to spend it, the demand of diamonds may slowly decrease.
Thursday, September 25, 2008
Chapter One : Direct / Opportunity Costs
http://www.canada.com/theprovince/news/sports/beijing2008/story.html?id=5a9d7410-69b4-4583-b58d-fa74ab9d60a5
Summary
Now that the summer Beijing Olympics 2008 is over and done with, everyone is turning their attention to the winter Vancouver Olympics 2010. Anticipation for the winter Olympics is growing larger and larger especially since Beijing spent a massive sum of $45 billion on the Summer Games. Mayor Sam Sullivan believes in the great possibilities that could be brought upon our city because of 2010. "People will speak about Vancouver before 2010 and after 2010, and my goal has been to make sure that we are ready to take that opportunity." Even with the Winter Games nearing, the numbers set for the security budget is still yet to be finalized. Originally they came up with the figure $175 billion, but soon they had second thoughts worrying that it wouldn’t be adequate. Cleaning up the homeless people in the city centre is another factor that has always been near the top of the list. Citizens of Vancouver are concerned that the cost for this event may be too high.
Connection
This article is related to our text in that there are obvious direct and opportunity costs that are involved in hosting 2010 in our city. Evacuating the city centre clear of homeless people, by buying/building houses, so when the athletes and spectators come to Vancouver, they will leave with a positive image. Construction on the various sites to host the different winter games is mandatory to ensure the best facilities are there for the event. The Canada Line connecting Vancouver, Richmond, and the Vancouver Airport is well underway that by the end of 2009 it will completed and readily available for the Winter Olympics. These are just a few of the many direct costs involved in this event. Opportunity costs are usually neglected during the course of the consideration. If we were to spend even only half of what China had for the Olympics, it would still be $23.5 billion. Those billions of dollars could be put further in use if they were funding different areas of the nation. More money could be spent on Health Care to reduce the death rates in Canada. Despite the lowering unemployment rates, more funds could be used to opening classes for those unemployed to upgrade their skills/knowledge.
Reflection
There are always two sides to a situation. Some people may look at hosting the Olympics as negative, that’s why numerous times we’ve had people graffiti the Olympics Countdown Clock that is located just outside the Vancouver Art Gallery. But a lot of citizens are excited about 2010 just as much as I am. Having the Winter Olympics in the Lower Mainland could be very exciting and hectic. The US as well as Canada is starting to fall into recession, so with 2010 in Vancouver, we might have that extra something to keep our province and perhaps nation going. While most of the other cities are suffering recession, Vancouver will have a lot of tourists which could lead to more revenue that is coming into our province. So in this situation, even if the opportunity cost and direct costs are high, it wouldn't affect us too much because the extra capital that comes with having 2010 in Vancouver will keep our city and province out of the crisis. With that said, I think the bid for Vancouver hosting the 2010 Winter Olympics was a very intelligent choice.
Summary
Now that the summer Beijing Olympics 2008 is over and done with, everyone is turning their attention to the winter Vancouver Olympics 2010. Anticipation for the winter Olympics is growing larger and larger especially since Beijing spent a massive sum of $45 billion on the Summer Games. Mayor Sam Sullivan believes in the great possibilities that could be brought upon our city because of 2010. "People will speak about Vancouver before 2010 and after 2010, and my goal has been to make sure that we are ready to take that opportunity." Even with the Winter Games nearing, the numbers set for the security budget is still yet to be finalized. Originally they came up with the figure $175 billion, but soon they had second thoughts worrying that it wouldn’t be adequate. Cleaning up the homeless people in the city centre is another factor that has always been near the top of the list. Citizens of Vancouver are concerned that the cost for this event may be too high.
Connection
This article is related to our text in that there are obvious direct and opportunity costs that are involved in hosting 2010 in our city. Evacuating the city centre clear of homeless people, by buying/building houses, so when the athletes and spectators come to Vancouver, they will leave with a positive image. Construction on the various sites to host the different winter games is mandatory to ensure the best facilities are there for the event. The Canada Line connecting Vancouver, Richmond, and the Vancouver Airport is well underway that by the end of 2009 it will completed and readily available for the Winter Olympics. These are just a few of the many direct costs involved in this event. Opportunity costs are usually neglected during the course of the consideration. If we were to spend even only half of what China had for the Olympics, it would still be $23.5 billion. Those billions of dollars could be put further in use if they were funding different areas of the nation. More money could be spent on Health Care to reduce the death rates in Canada. Despite the lowering unemployment rates, more funds could be used to opening classes for those unemployed to upgrade their skills/knowledge.
Reflection
There are always two sides to a situation. Some people may look at hosting the Olympics as negative, that’s why numerous times we’ve had people graffiti the Olympics Countdown Clock that is located just outside the Vancouver Art Gallery. But a lot of citizens are excited about 2010 just as much as I am. Having the Winter Olympics in the Lower Mainland could be very exciting and hectic. The US as well as Canada is starting to fall into recession, so with 2010 in Vancouver, we might have that extra something to keep our province and perhaps nation going. While most of the other cities are suffering recession, Vancouver will have a lot of tourists which could lead to more revenue that is coming into our province. So in this situation, even if the opportunity cost and direct costs are high, it wouldn't affect us too much because the extra capital that comes with having 2010 in Vancouver will keep our city and province out of the crisis. With that said, I think the bid for Vancouver hosting the 2010 Winter Olympics was a very intelligent choice.
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