Scarcity, Opportunity Cost and Margin Analysis, Handy Dandy Guide - Essay Example

? Extended Project Introduction This paper primarily intends to highlight certain economic concepts ly economic learning including scar opportunity cost and margin analysis, Handy Dandy guide, REMM-Decision Making model, along with evaluating certain economic systems such as circular flow, market failure and command among others. With regard to these economic concepts, paper aims to focus on a particular theme and critically evaluate the associated factors. The theme of the study is ‘why do young men commit more crimes than young women?’ Based on the topic area of crime, the selected theme endeavors to reveal the intricate factors associated with such an occurrence i.e. more crimes committed by young men than young women. The key focus of the paper is to reveal the inner crux of the theme with a background focus on economic reasons. An in-depth evaluation of the selected theme would facilitate to derive an understanding regarding the factors especially the economic factors that encourage more males to commit crimes than young women. Economic Reasoning In this section of the paper, the aforementioned economic concepts namely economic learning including scarcity, opportunity cost and margin analysis, Handy Dandy guide, REMM-Decision Making model, along with evaluating certain economic systems such as circular flow, market failure and command among others will be explained in a precise manner. Market Failure It is particular economic situation in which a company or a business entity has to suffer from economic losses resulting out of non-achievement of the broad business objectives. This term can also be understood as a negative aspect which is faced when certain pre-determined objectives are not met within the overall marketing context (Carden & Horwitz, 2013). Handy Dandy Guide This concept comes under the aspect of economic learning. It is referred as an assessment tool which is utilized in studying the behavioral work pattern of the people. It is used for determing the choices of the people and also for highlighting the costs involved in people’s choices. It also explains the different choices people make and certain consequences that they face which may take a negative or a positive form (Pennsylvania’s State Parent Advisory Council, 2006). Economic Learning This aspect can be understood as the process of gaining knowledge in the overall context of economics. This form of learning can result in the achievement of greater aspects of economical knowhow. REMM-Decision Making model This particular concept is an integral part of economic learning. It is termed as the process which is utilized for closing and finalizing the decisions that are needed to be made and also to find suitable alternatives for each of the decisions (Saunders & Gilliard, 1995). Opportunity Cost This concept comes under the periphery of economic learning and is regarded as an economical term which primarily refers to the price of an alternative that is needed to be forgone for the purpose of pursuing a certain action (Saunders & Gilliard, 1995). Scarcity Scarcity refers to unavailability of required resources to obtain desired along with necessary aspects. Scarcity in economic parlance emerges from uncertain condition of the prevailing social structure and economy (Saunders & Gilliard, 1995). Margin Analysis Margin analysis refers to the process of analysis of the margins of a company. This process is precisely followed in determining the overall profits of a company. The process of margin analysis can be performed by way of performing economic calculations and specific financial analysis. This aspect is however considered to be very important as with the help of proper margin analysis, the actual state of the company’s profitability can be determined (Saunders & Gilliard, 1995). Literature Review This part of the paper will primarily highlight all those factors pertaining to the deeper analysis of the above mentioned economic concepts. The concerned terms represent greater significance in relation to the overall economical context. Different authors have shared their valuable insights in relation to the concepts and also have cited certain instances that can be related with the particular aspect i.e. ‘why do young men commit more crimes than young women?’ According to Abbot et al. (2005), most of the instances of criminal activities seem to reflect from the part of the young men as compared to young women. In relation to the commitment of crimes, there are various economic factors that invoke many young men to undertake criminal activities to a very large extent. Poor economic conditions in terms of scarcity of available resources to meet the ends seem to influence criminal activities by a considerable extent. In addition, the authors highlighted that the young men are more money driven as compared to young women, so this aspect tends to create an urge among the young men to undergo illicit and even illegal activities. In accordance with the comprehension made by Brown (2001), crimes are committed due to economical constraints that seem to give rise to all sorts of criminal activities that mostly reflect from the part of the young men in comparison with young women. Men seem to have the greater tendency to commit serious offences. However, there are very less amount of crime records that can be obtained where women have the involvement in crimes. In relation to the concept of Handy Dandy guide, people’s choices also have certain costs that may turn out to be expensive at a few instances. In order to meet the expenses, people or primarily young men at times tend to follow the path of criminal activities. In this particular context, Sterneberg (2009) also showcased certain factors that highlighted the various categories of crimes which are committed by the young men belonging from different countries. In this regard, women do not get easily noticed in getting involved in any instances relating to criminal activities. In relation to emergence of crimes, Deflem (2011) shed light on the aspects pertaining to people getting engaged in criminal activities that are primarily caused due to economic crisis. If a country faces economic crisis then it is bound to give rise to many criminal instances that are usually carried out by men. This factor primarily relates to market failure wherein owing to the availability of a lack of opportunity to attain a sustainable living, there is an emergence of criminal activities. Critics including Carden & Horwitz (2013) in this context pointed out that, negative externalities play a vital role in creating market failure which might give rise to the cost of public goods. This in turn can create major hurdles for people who live on a very low level of earning. Such scenario can compel an individual to take the path of crime to sustain and correspondingly young men get more involved in these circumstances. Analysis From an in-depth study, it has been ascertained that there are different instances of activities pertaining to violence and criminal activities that seem to take a greater amount of toll on the overall environment. It has been studied that the criminal activities that have many adverse effects are mostly committed by young males as compared to young females. Young males are easily driven towards negative activities and there always lays high amount of possibilities of males getting involved in all sorts of illegal activities. In this similar context, it has been viewed with reference to Abbot et al. (2005) that scarcity of resources tends to drive young men to commit crimes. This is primarily because they at times feel greater urge to address the familiar hardships in terms of financial crisis. The viewpoints of different authors around the world have been duly analyzed and the concept of crimes has been studied in an in depth manner. All the authors provided their views which seem to reveal to a very close relation to the aspect of young males who are liable for undertaking criminal activities as compared to young females. The authors highlighted upon various instances in which the aspects of economic constraints seem to have the closest relation of evoking all sorts of criminal activities, especially from the parts of the young males. In this respect, the analysis results also posed certain similarities in relation the concepts explained in the economic reasoning part. Each of the concepts seemed to create certain amount of linkage in relation to the aspect of criminal activities. Human beings wants are unlimited and in order to satisfy their monetary requirements people start following the path of criminals irrespective of fearing about the consequences. This aspect poses direct relation with the concept of Handy Dandy guide. Similarly, the theme can also be directly or indirectly related to the concepts of market failure and decision making model. If the economic condition of a country is weak then companies in that particular country will have to experience market failure and the decision making abilities of that particular company will be able to provide fruitful results. Even if the company performs proper margin analysis in such kind of scenario then also the company will not be able to source fruitful results. In such class of economy, the people in that particular economy are bound to get affected by financial constraints. Furthermore, social class distinctions wherein there is a lack prospect to meet the required ends for people can bring about the urge to commit crimes in young male (Mauer, 1999). Conclusion From the overall analysis, it has been determined that crime is a critical social concern which affecting people and societies across the globe. Crime generally does not possess any gender differentiator. However, it has been determined that the rate of crime noticeably vary amid men and women. There are a number of factors that encourage and at times compel an individual to commit crimes. In terms of economic perspective, it has been found that there are a few key economic concepts that play a critical role in the commitment of crime by an individual. The facets such as scarcity, Handy Dandy guide and market failure among others at times encourage criminal tendencies amid the young males. It has been also determined that in many of the paternalistic societies, young men feel the urge to ensure that their families are looked after well. However, critical economic crisis emerging from a country’s deficiencies can severe dent employment scenario. This in turn can urge criminal behavior amid young men to meet the ever-present needs and desires of an individual. References Abbot, P., Wallace, C., Tyler, M., Abbott, P., & Tyler, M. (2005). An introduction to sociology: Feminist perspectives. London: Routledge. Brown, K. (2001). An Introduction to Sociology. United States: Polity. Carden, A. & Horwitz, S. (2013). Is market failure a sufficient condition for government intervention?. Liberty Fund, Inc. Deflem, M. (2011). Economic crisis and crime. United Kingdom: Emerald Group Publishing. Mauer, M. (1999). The crisis of the young African American male and the criminal justice system. The Sentencing Project, 1-18. Pennsylvania’s State Parent Advisory Council. (2006). Handy Dandy Guide. Retrieved from http://www.spac.k12.pa.us/2012/2012.conference/No%20Tears%20Not%20Tantrums%20about%20money%20Lora%20Spence/Handy%20Dandy%20Guide.pdf Sterneberg, S. (2009). Migration in Germany - violent crimes committed by young men of foreign orignis. Germany: GRIN Verlag. Saunders, P. & Gilliard, J. V. (1995). A framework for teaching basic economic concepts: with scope and sequence guidelines. United States: Council for Economic Educat. Read More