Examining The Evolution Of Integrated Circuits Information Technology Essay

Examining The Evolution Of Integrated Circuits Information Technology Essay In electronics, an integrated circuit also known as IC, microcircuit, microchip, silicon chip, or chip is a miniaturized electronic circuit (consisting mainly of semiconductor devices, as well as passive components) that has been manufactured in the surface of a thin substrate of semiconductor material. Integrated circuits are used in almost all electronic equipment in use today and have revolutionized the world of electronics. A hybrid integrated circuit is a miniaturized electronic circuit constructed of individual semiconductor devices, as well as passive components, bonded to a substrate or circuit board. Integrated circuits were made possible by experimental discoveries which showed that semiconductor devices could perform the functions of vacuum tubes, and by mid-20th-century technology advancements in semiconductor device fabrication. The integration of large numbers of tiny transistors into a small chip was an enormous improvement over the manual assembly of circuits using discrete electronic components. The integrated circuits mass production capability, reliability, and building-block approach to circuit design ensured the rapid adoption of standardized ICs in place of designs using discrete transistors. Invention The idea of an integrated circuit was conceived by a radar scientist working for the Royal Radar Establishment of the British Ministry of Defence, Geoffrey W.A. Dummer (1909-2002), who published it at the Symposium on Progress in Quality Electronic Components in Washington, D.C. on May 7, 1952. He gave many symposia publicly to propagate his ideas. Dummer unsuccessfully attempted to build such a circuit in 1956. The integrated circuit can be credited as being invented by both Jack Kilby of Texas Instruments and Robert Noyce of Fairchild Semiconductor working independently of each other. Kilby recorded his initial ideas concerning the integrated circuit in July 1958 and successfully demonstrated the first working integrated circuit on September 12, 1958. In his patent application of February 6, 1959, Kilby described his new device as à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"a body of semiconductor material wherein all the components of the electronic circuit are completely integrated.à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  Kilby won the 2000 Nobel Prize in Physics for his part of the invention of the integrated circuit. Robert Noyce also came up with his own idea of integrated circuit, half a year later than Kilby. Noyces chip had solved many practical problems that the microchip developed by Kilby had not. Noyces chip, made at Fairchild, was made of silicon, whereas Kilbys chip was made of germanium. Early developments of the integrated circuit go back to 1949, when the German engineer Werner Jacobi (Siemens AG) filed a patent for an integrated-circuit-like semiconductor amplifying device showing five transistors on a common substrate arranged in a 2-stage amplifier arrangement. Jacobi discloses small and cheap hearing aids as typical industrial applications of his patent. A commercial use of his patent has not been reported. A precursor idea to the IC was to create small ceramic squares (wafers), each one containing a single miniaturized component. Components could then be integrated and wired into a bidimensional or tridimensional compact grid. This idea, which looked very promising in 1957, was proposed to the US Army by Jack Kilby, and led to the short-lived Micromodule Program (similar to 1951s Project Tinkertoy). However, as the project was gaining momentum, Kilby came up with a new, revolutionary design: the IC. The aforementioned Noyce credited Kurt Lehovec of Sprague Electric for the principle of p-n junction isolation caused by the action of a biased p-n junction (the diode) as a key concept behind the IC. Scale of integration Small Scale Integration (SSI): SSI were the first integrated circuits, which contained only a few transistors. They consisted of circuits, containing transistors numbering in the tens. SSI circuits were vital to early aerospace projects. The Minuteman missile and the Apollo program both needed lightweight digital computers for their inertial guidance systems. the integrated-circuit technology development was led by the Apollo guidance computer, while the Minuteman missile bolstered it into mass-production. The purchase of almost all of the available integrated circuits from 1960 through 1963, was from these programs, and basically almost provided the demand that funded the production improvements. In turn this got the production costs from $1000 per circuit (in 1960 dollars) to a mere $25 per circuit (in 1963 dollars). They began to become used in consumer products at the turn of the decade, for example in FM inter-carrier sound processing in television receivers. Medium Scale Integration (MSI): In this devices which contained hundreds of transistors on each chip. Also, these cost little more to produce than SSI devices, and also allowed more complex systems to be produced, using smaller circuit boards and less assembly work (due to fewer individual components). Large Scale Integration (LSI): Large-Scale Integration ( LSI ) by the mid 1970s. Chips now were developed with tens of thousands of transistors. Integrated circuits such as 1K-bit RAMs, calculator chips, and the very first microprocessors had under 4000 transistors and saw a moderate quantity of manufacture in the early part of 1970. True LSI circuits, were approaching 10000 transistors and began to be produced for computer main memories and second-generation microprocessors in around 1974 . Very Large Scale Integration (VLSI): Starting in the 1980s and continuing through to this day, was Very Large-Scale Integration (VLSI). This starts with hundreds of thousands of transistors in the early 1980s, and continues beyond several billion transistors as of 2007. No single breakthrough allowed the increase in complexity. Manufacturing moved to cleaner fabs and smaller rules, which allowed them to produce chips with more transistors with adequate yield, (summarized by the International Technology Roadmap for Semiconductors). Design tools also saw much improvement, this was enough to make it practical to finish the designs in reasonable times. Energy efficient CMOS replaced NMOS and PMOS, which avoided a prohibitive increase in power consumption. Many other factors helped also. By 1986 the first one megabit RAM chips were introduced, these contained more than a million transistors. 2005 saw microprocessor chips passing the billion transistor mark. The trend continues largely unabated, with chips introduced in 2007 containing tens of billions of memory transistors. Ultra Large Scale Integration (ULSI): Ultra-Large Scale Integration was proposed for chips of complexity of more than 1 million transistors. Wafer-scale integration (WSI): Wafer-scale integration (WSI) is a system of building extremely large integrated circuits that uses a whole silicon wafer to produce a single super-chip. Through a combination of large size and reduced packaging, WSI could lead to dramatically reduced costs for some systems, notably in massively parallel supercomputers. The name is taken from the term Very-Large-Scale Integration, the current state of the art during the development time of WSI. System-on-a-Chip (SoC or SOC): It is an integrated circuit where all the components needed for a computer (or other system), are included on a single chip. The design of this device can be costly and extremely complex, and also building disparate components on a single piece of silicon, could compromise the efficiency of some of its elements. Nevertheless these drawbacks are offset by low manufacturing and assembly costs, and by a vastly reduced power budget (as the signals among the components are kept on-die, much less power is required). Three Dimensional Integrated Circuit (3D-IC): It has two or more layers of active electronic components, these are integrated both horizontally and vertically into a single circuit. Communication between the layers relies on on-die signaling, so the power consumption is lower than that of equivalent separate circuits. Sensible use of short vertical wires can substantially reduce the total wire length, for faster operation and efficiency. Classification of ICs by Structure: 1.Monolithic ICs 2.Hybrid or Multichip ICs Thin film Thick film Monolithic ICs: In these ICs all circuit components (i.e. active and passive) are fabricated inseparable within a single continuous piece of silicon crystalline material called WAFER. In Monolithic ICs all components are formed simultaneously by a diffusion process. Then a metallization process is used in interconnecting these components to form the desired circuit. Hybrid ICs: In Hybrid ICs passive components (such as resistors and capacitors) and the interconnection between them are formed on an insulating substrate, the substrate is used as a chassis for the integrated components .Active components such as transistors and diodes, as well as Monolithic ICs are then connected to form a complete circuit. Hybrid ICs are further classified as Thin Film and Thick Film, depending on the method used to form the resistor, capacitor and related interconnections on the substrate. 1.Thin Film: When a suitable material is evaporated on substrate informing resistors, capacitors and interconnections, a Thin Film Hybrid IC is obtained. 2.Thick Film: When the resistors, capacitors andinterconnections are etched on the substrate by silk screening, a Thick Film Hybrid IC is obtained. Classification of ICs by Function: Linear ICs: They perform amplification and other essential linear operation on signals. Non Linear ICs: They require only ON-OFF operation of the transistor, thus the design requirements for these circuits are less stringent than those of linear ICs. ICs can be classified into ANALOG, DIGITAL and MIXED SIGNAL Digital integrated circuits: It contain anything from one to millions of logic gates, flip-flops, multiplexers, and other circuits in a few square millimeters. The small size of these circuits allows high speed, low power dissipation, and reduced manufacturing cost compared with board-level integration. These digital ICs, typically microprocessors, DSPs, and micro controllers work using binary mathematics to process one and zero signals. Analog Integrated cicuits: It contains sensors, power management circuits, and operational amplifiers, work by processing continuous signals. They perform functions like amplification, active filtering, demodulation, mixing, etc. Analog ICs ease the burden on circuit designers by having expertly designed analog circuits available instead of designing a difficult analog circuit from scratch. Mixed integrated cicuits: ICs can also combine analog and digital circuits on a single chip to create functions such as A/D converters and D/A converters. Such circuits offer smaller size and lower cost, but must carefully account for signal interference. IC TERMINOLOGY Some common terms used in fabricating ICs are: Bonding: Attaching the die on ceramic substrate and then connecting the leads to the package. Chip: An extremely small part of silicon wafer on which IC is fabricated. Circuit Probing: Testing the electrical performance of each IC chip with the help of microscope. Diffusion: A process that consist of the introduction of impurities into selected regions of a wafer to form junctions. Encapsulation: putting a cap over the IC and sealing it in an inert atmosphere. Epitaxy: A process of controlled growth of a crystalline doped layer of silicon on a single crystal substrate. Mask: A glass plate with desired pattern of diffusion or metallization. Metallization: A process for providing ohmic contacts and interconnections by evaporating aluminum over the chip. Photolithography: A process to transfer geometrical pattern from the mask to the surface of the wafer. Photoresist: A light-sensitive material that hardens when exposed to ultraviolet light. Wafer: A thin disk of semiconductor in which number of ICs are fabricated simultaneously. Advantages of ICs over Discrete Components: Extremely small physical size Low power consumption Reduced cost Increased system reliability Increased operating speed Increase equipment density Improved function performance High yield Advances in integrated circuits Along with the advanced integrated circuits are that of the cores or microprocessors, which handle many of todays appliances from computers and cellular phones to digital microwave ovens. Digital memory chips and ASICs are examples of other groups of integrated circuits which are important to the modern information society. Whilst cost of designing and developing a complex integrated circuit is high, when costs are spread across typically millions of production units, the individual IC cost is reduced. The performance of Integrated circuits is high as the small size allows short traces, which then allows low power logic (for example CMOS), to be used at quick switching speeds. Integrated circuits have constantly migrated to smaller feature sizes over time thus, allowing more circuitry to be placed on each chip. The increase in capacity per unit area can be used to decrease cost and increase functionality, this can be seen in Moores law where it states that the number of transistors in an integrated circuit doubles every two years in a modern interpretation. Normally as the feature size shrinks, there can be seen improvements in everything. The cost per unit and the power consumption of switching go down, and the speed goes up. Integrated circuits with nanometer-scale devices have a variety of problems, one of which being current leakage, however these problems are not unconquerable and it is likely they will be solved, or improved at least, by the introduction of high-k dielectrics. As the power consumption and speed gains are apparent to the end user, there is competition among manufacturers to use finer geometries. The process/expected progress over the next few years, is described by the International Technology Roadmap for Semiconductors (ITRS). Popularity of ICs   Only a half century after their development was initiated, integrated circuits have become ubiquitous. Computers, cellular phones, and other digital appliances are now inextricable parts of the structure of modern societies. That is, modern computing, communications, manufacturing and transport systems, including the Internet, all depend on the existence of integrated circuit. Future scope of integrated circuits The future of integrated electronics is the future of electronics itself. The advantages of integration will bring about a proliferation of electronics, pushing this science into many new areas. Integrated circuits will lead to such wonders as home computers.or at least terminals connected to a central computer .automatic controls for automobiles, and personal portable communications equipment. The electronic wristwatch needs only a display to be feasible today. But the biggest potential lies in the production of large systems. In telephone communications, integrated circuits in digital filters will separate channels on multiplex equipment. Integrated circuits will also switch telephone circuits and perform data processing. Computers will be more powerful, and will be organized in completely different ways. For example, memories built of integrated electronics may be distributed throughout the machine instead of being concentrated in a central unit. In addition, the improved reliabil ity made possible by integrated circuits will allow the construction of larger processing units. Machines similar to those in existence today will be built atlower costs and with faster turn-around.

How does Bennett present different teaching styles in ‘The History Boys’?

Bennett presents three contrasting teaching styles in the History Boys through the characters of Hector, Mrs Lintott, and Irwin. All three of the characters have their own unique attitude towards the boys' impending Oxbridge examinations, putting the boys in the difficult position of having to keep a reasonable balance between teaching and learning styles whilst making every effort to maintain the good-humoured relationships they have with each of their teachers, as well as striving to achieve well in their examinations. Whilst Hector brands the boys' Oxbridge aspirations as ‘silliness', he has a dedication and love for knowledge which he imparts during his lessons, and generally, to his students. While on the subject of General Studies, he quotes ‘All knowledge is precious whether or not it serves the slightest human use', which encapsulates, in one phrase, how highly he values any kind of knowledge as well as how he tries to teach the boys. It shows that Hector sees knowledge as precious- he has an unconventional kind of teaching style which he sees as vital to the boys' education of life in general, and of particular importance is that the boys are aware of this. As Timms says, ‘Mr. Hector's stuff's not meant for the exam, sir. It's to make us more rounded human beings. ‘ when the boys are questioned by Irwin on Hector's teaching style. Furthermore, Hector believes in giving the boys the ability to defy the education they have been given- ‘You give them an education. I give them the wherewithal to resist it' he says, in conversation with factual Mrs. Lintott. Hector's teaching style is lively and compassionate, teaching the boys to love what they do. In contrast, Irwin, who is hired to prepare the boys for their exams, is totally centered on exam techniques. When reflecting on the essays he has just marked, he remarks that the other boys and girls who ‘have been to Rome and Venice, Florence and Perugia' will ‘know when they come to do an essay like this on the Church on the eve of the Reformation that some silly nonsense on the foreskins of Christ will come in handy. And doing so he advises the boys to make their essays controversial so they stand out, regardless of what is true or what is considered correct or disciplined- in fact, Irwin approaches History in a rebellious and oppositional way to spark questioning. Iriwn's bold stance on education is summed up when he says that ‘truth is no more at issue in an examination that thirst at a wine-tasting or fashion at a strip tease'- yet again reinforcing the idea that if the boys want to get in to Oxford and Cambridge, they need to make their essays contentious and different rather than ‘Dull. Read also History Quizzes Dull. Abysmally Dull. ‘ His idea that ‘silly nonsense' will catch the examiner's eye comes into conflict with Hector's teaching style and the ‘token' of Hector's trust when Irwin finds out that the boys have acquired countless ‘gobbets' from Hector's lessons that he believes would be useful for the exams- ‘Don't tell me that's useless knowledge', he says, pointing out that any piece of knowledge or quote or ‘gobbet' could help them get through their exams. Hector's compassionate teaching is at complete odds with Irwin's edgy style, and even though he disagrees wholeheartedly with the way Irwin approaches learning- ‘call them what you like, but do not call them ‘gobbets'- he is willing to help Irwin do his job- ‘However, if you think it will help, I will speak to them. ‘ Mrs Lintott, the boys' history teacher, has a very factual and straightforward approach to teaching which sees the boys through their A levels- ‘Their A levels are very good. And that is thanks to you, Dorothy. She is more concerned with facts than anything else, and her belief is that ‘Plainly stated and properly organised facts need no presentation, surely. ‘ But the headmaster of the school is looking for something different, rather like Irwin- ‘Think charm. Think polish. Think Renaissance Man. ‘ Mrs Lintott is frustrated by the need for ‘presentation' and the fact that the dons fall for the tactics employed by people like Irwin, however, and compares it to ‘A sprig of parsley, you mean? Or an umbrella in the cocktail? outlining her dry, sarcastic, cynical humour, and showing her disrespect for jazzing up facts to be acknowledged and noticed, as Irwin does. As Rudge puts it, when speaking to Mrs Lintott about Irwin, ‘You've force-fed us the facts; now we're in the process of running around acquiring flavour. ‘ In conclusion, Bennett presents three different teaching styles in the play by showing the audience not just the teachers' lessons but by giving the audience an idea of what the teachers' personalities and outlooks on life are, showing that teaching and learning involve so much more than exam res ults.

Activation Energy For The Exergonic Reactions - 1624 Words

According to the graph above, the activation energy for the exergonic reactions without a catalysis enzyme is much higher opposed to the reaction with a catalysis enzyme; the free energy is constant and doesn’t change whether if there is a catalysis enzyme; the transition state differs because in an exergonic reaction without a catalysis enzyme, it takes longer for the transition state to occur and has a higher energy peak requirement while if there’s a catalysis enzyme, then the transition state occurs quicker and has a lower energy peak requirement. For the endergonic reactions, the reaction without a catalysis enzyme has a higher activation energy requirement while the reaction with the catalysis enzyme has a significantly lower†¦show more content†¦How, specifically (4 ways) do enzymes speed up reactions and why are they more appropriate than heat in living systems? a. The four ways that enzymes speed up reactions and why are they are more appropriate than heat in living systems are: active site template, active site stretch (induced fit), active site provides a microenvironment and direct participation of the active site in the chemical reaction. For example, each enzyme has its own specific active site that only allows specific types of substrates in and allows for an enzyme-substrate complex; due to the creation of an enzyme-substrate complex, a catalysis reaction is able to occur and speed up a reaction. The next enzyme mechanism is called induced fit, and it is when an enzyme stretches a substrate molecule into a different and snug-fit transition state which allows for the stressing and bending of critical chemical bonds eventually leading to a catalysis reaction. The third enzyme mechanism is its ability to provide a â€Å"microenvironment† or providing a suitable environment for a substrate to be in (acidic, neutral, etc.) and is a key step in the formation of a catalysis reaction. The last and final mechanism of an enzyme is its ability to directly participate in a chemical reaction through brief covalent bonding between the substrate and side chain of an amino acid of an enzyme, which leads to a catalysis reaction or a sped up reaction. These are all more appropriate than heat because if the

How I Overcame Social Anxiety Disorder (SAD) Essay example

Almost every day throughout high school I experienced something that I could not identify. It was over a year since I had graduated until could put words to emotion. I discovered that I was not free in my own mind. I was in a prison. One that I couldnt touch and for many years I could not see. After several visits to counselors and therapists I finally had the words to describe what my experience was. It had come to the attention of my family that I had some sort of psychological problem and something had to be done. I was always labeled as a shy and quiet kid, and like my family I had thought nothing more of my behavior. However, now it had become something more obvious. I had told my parents the kinds of problems I was having.†¦show more content†¦As we drove away, myself in the back of the car, my sister and her partner in the front, the sun was shining into my face. The bright light irritated my eyes and I turned away from it. Looking back at this it seemed that the blin ding sun was appropriate. I was moving towards change, something better, but the transition was to be a stinging one. Upon arriving at my sisters house I began to get settled. I set myself up in a spare room that was available in the house and tried to get comfortable. That night my sleep was sparse. I was expected to start looking for work the next day and my mind did what it usually did at times of turmoil such as this. It destroyed me. The following morning I woke up and tried to explain to my sister and Brynn what was happening to me. It was evident that on the list of priorities, psychological help might be on a higher plateau than that of occupational interests. My first session with a therapist was to scheduled for later that week. I sat in the office nodding. The therapist went down the list of signs of a panic disorder and those of an anxiety disorder. With each question I gave a nod in response, not a â€Å"yes†, not even a â€Å"yeah†, just a nod.â€Å"Hav e you ever experienced a rapid heartbeat, faintness of breath associated with these experiences?† I nodded. â€Å"Have you ever experienced sweating, numbness, shaking in this context† she asked. I nodded. A few minutes later, several question and several nods had brought her to aShow MoreRelatedAwareness For Mental Health Illnesses1526 Words   |  7 Pagesgoal for this project was to raise awareness for mental health illnesses. I wanted to bring this sensitive, yet common, issue to light. The subject of mental illness is unfortunately a taboo in many cultures and those who suffer from the extreme cases are ignored or they do not receive the proper treatment. Our community unfortunately struggles with stigma related to mental illness and disclosure of such a sensitive topic. 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Social Problems in Thailand - 2244 Words

Social Problems in Thailand World around us today are filled with problems, complications, and dilemmas. People faces problems in everyday life, but problems that people living in the same society face commonly are called social problems. Before discussing social problems in our society, we must first give criteria of how we define social problems. Firstly, the objective condition must be perceived to be a social problem publicly. That is, there must be some public outcry. People must become actively involved in discussing the problem and finding solution to solve the problem. Public attention becomes directed toward that social condition. Second, the condition must involve a gap between social ideals and social reality. That is, the†¦show more content†¦Aside from pleasing customers, and obey the rules set by brothels owners, prostitutes deals with the pressure of being far away from home, health concerns including pregnancy and sometimes guilt. 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How to Become a Successful Entrepreneur Free Essays

Table of Contents Introduction Generally people think that an entrepreneur is a visionary, somebody with great ideas who is eager to take huge risks. However having a radical innovation from the nothing is overwhelming but very rare. To be successful, it is essential to think differently from the casual thinkers. We will write a custom essay sample on How to Become a Successful Entrepreneur or any similar topic only for you Order Now The aim of this paper is to show how we, a study group of five students could come up with an idea in an entrepreneurial way and go through an elaboration process toward the realization using the theoretical frameworks. In the first part I will describe how my group went through the idea generating process and found the idea of the CPH Bike SOS with the help of the Design Thinking Method. Our multilateral service invention has three pillars, each of them with the aim to answer the question: Where can we get help if we have any problem with our bike when the shops are closed? Living in Copenhagen, we have realized that there is a market gap on the service market of the bike shops. On the other hand, looking at the market segment, we are sure, that there is an unsatisfied need. The second part of the paper will focus on the theoretical framework of the dea. I will define the type of our innovation, after which I will decide about the type of the firm we should start to realize the idea, and then the focus will move to the needed resources and collaborations we need to get the idea off to the market. At the end of my work, I will take a glance on what kind of the type of possibilities we have to be successful in the future and how to develop the idea further. Generating ideas In this chapter I would like to describe our process of generating the idea. It is a really important part of the task we were working on, since it explains how our group ent through a progress from the casual reasoning to the effectual reasoning and so thinking on a more entrepreneurial way. In my team we are five girls, each of us are foreigners here in Denmark, and we have quite different backgrounds. We had some difficulties to find a creative idea to work on. On one hand the problem was the fact that we did not know each other before, so there was an initial phase of trust- building. We had to familiarize with the situation to debate on each other’s ideas. On the other hand, we realised that when we had an idea which was a direct solution to ome problems and so Just the final step of an entire process. So we started the process again and again to get back to thinking â€Å"out of the box†. As point of departure we used the method implemented by IDEO. (Figure 1) : Figure : Design Thinking Model of IDEO (Source of Image) Inspiration – What is the problem? In the inspiration phase, we wanted to find as many ideas as we could, to have a wider range. As mentioned, we did not know each other, and we did not know what could be the common interests, experience or problems. We used the â€Å"Bird In The Hand† Principle to look into the facts what we have right there. As Sarasvathy sums it up, instead of having one solution and finding the way to reach it, we should take a step back and define the means which can lead us to a good opportunity. So the first step was defining the framework in which we are searching for possibilities with the following three questions: â€Å"Who are we? † We started to look through the features which describe us and so along which we can find some problems we all have in common. As long as we are all foreigners, our biggest issues are around living without the familiar things that we were surrounded by every day and getting used to a new way of living. We live here without our families, we had to arrange housing for ourselves, we are getting accustomed to biking every day. On the other hand we are students, spending time on studying, we all have a limited budget, then we are all girls who love fashion, we cook for ourselves, do groceries, we listen to music and go out, etc. Without knowing each other we succeeded to find numerous common topics as a good initial. What do we We study together but our previous education is different. One part of the group studied international business so that part of the group has a more business riented point of view, while the other part of the group has a more design oriented education. Most of us have lived in different countries other than our home country, so we have insight to different systems. We also have working exp erience that helped us in having an insight of the companies. â€Å"Whom do we know? † With this question, as Sarasvathy suggests, we have to define the sources of our knowledge, such as our social and professional networks. When an issue was considered, we defined the relative groups we can have any information from. It is important to take any stakeholder into consideration, as long as good ideas can come rom the most unexpected sources. With all these given means we defined some of the problems, interests and difficulties that we are currently facing in common. In the framework of’s model of Entrepreneurial Thinking – Effectual Reasoning, we defined different issues on the basis of the given means described above, for which there is no satisfying solution on the market. On Figure 2 1 would like to provide some examples to our process of using the method of the â€Å"Bird in the Hand† Principle. Figure : Entrepreneurial thinking – Pool of ideas (Source: Sarasvathy, 2001) At this oint of the idea generation we had to choose one among the several given. To choose one, we started brainstorming whether we have any idea for a solution or not. So this is the second big step of the idea creation in the Design Thinking Model. Ideation – â€Å"How might we solve the problem? As long as we did not want to limit ourselves, we started to search for solution for many problems we have found. From the most unusual till the most ordinary idea, we collected everything, because even bad ideas can be the source of some really good solutions. On Figure 3 1 snow some imagined ends ot the problems. Figure : Using Entrepreneurial Thinking – Effectual Reasoning for creating the idea (source of image: Sarasvathy, 2001) Finally we sticked to the i dea of finding a solution to an everyday problem: Where can we get help if we have any problem with our bike, when the bike shops are closed? We found this problem interesting as long as we all have bikes, and some of us have already experienced how it is when you need some help and nothing is open. Moreover, biking concerns not only us but the major part of the habitants of Copenhagen. According to the Bicycle Account 2012, 75 % of Copenhageners use their bike throughout the year. Another surprising statistics is that 36 % of everyone who studies or works here uses the bike every day. So with a solution to the question above, we can say, that we would reach the major part of the Danish capital. Biking has statistically measured benefits both for us and for the environment. For instance, as the research shows, at present rate 90,000 T of C02 per year saved by cycling in Copenhagen. Then, according to the 56% of the Copenhageners, it is faster than any other way of travelling since we do not stuck in a traffic Jam and we can easily find short-cuts. It is definitely healthier too. But it can cause some inconvenience as well as delays respecting to our schedule, in case of problems. For example what if you get a puncture going back home by night? How to cite How to Become a Successful Entrepreneur, Papers

Business Economics Principles Market Economies

Question: Describe about the Business Economics Principles for Market Economies. Answer: Gross Domestic Product The Australian economy is one of the biggest mixed market economies globally. The GDP of Australia Comprises of the total market value of all goods and services produced in Australia within a particular period. Generally, the GDP does not take into account depreciation and does not differentiate between the producers of services and goods. However, GDP comprises of only the total value of final products that are produced and sold within a particular period (Gross Domestic Product 2016). For this reason, the inclusion of items such as the purchase of used cars, pensions, and production of meals at home will have significant consequences on the Gross Domestic Product of the country. The Production of Meals At Home Usually, the GDP of a free market economy includes only the products that are sold through the market. As such, it only accounts for the products that consumers are willing to pay prices for the items they consume. For this reason, the GDP often excludes the products that consumers do not pay for. Therefore, the production of meals is usually not included in the calculation and estimation of the GDP of the country. In this regard, the value of outputs that are produced and consumed by households are entirely excluded from the GDP of the country. By and large, the inclusion of the production of meals at home in the calculation of the GDP will have significant effects on the overall GDP of the country. Particularly, the total GDP will be much higher than the actual GDP. Mainly, this is because it would also warrant for the inclusion of other products and services that are sold between households. It is crucial to note that such an increase in GDP will not necessarily indicate economic growth and development in the country. Mainly, this is because there are no substantial increases in the total output of the nation or economic activities but a mere inclusion of household activities (Zorach 2010). Besides, it is very difficult to put values on home services that do not pass through the market, and therefore different values of GDP will be computed in a particular period. Purchase of Used Cars Typically, the calculation of GDP comprises of the total value of products and services that are produced within a given year. Mainly, products that are resold are excluded from the computation of the GDP of Australia. First, this is because the GDP of a country only caters for the products produced within a particular year. Therefore, if the car is produced in one year and sold or resold in another, it is not accounted for in the GDP of the year it is resold. In this regard, including the purchase of used cars in the calculation of Australias GDP will mean that the car is accounted for twice, yet it was only produced once (Janda 2016). As a result, it will increase the current GDP, indicating economic growth and increased production yet this is not the case. It will lead to a false indication of the improvement in economic conditions. Moreover, including the purchase of used cars in the computation of the GDP will result in double counting, thereby leading to an incorrect valuation of the countrys current GDP. As such, before the car is purchased from its original owner, its value was computed and added to the countrys GDP. Therefore, adding the value of the used car again will result in double counting which is incorrect. Besides, such an inclusion will increase the countrys GDP, indicating an increase in production which may not necessarily be the case. Therefore, it is important that the purchase of items be excluded from the calculation of the Gross Domestic Product of a country, or an inappropriately high value will be reported. Pension Pre-funded pension refers to a situation where an employee sets aside a fund in the course of their career. The funds are then invested in by professionals in bonds, stocks, and real estate, among others with the aim that by the time an employee retires the original contributions of the plan will have generated enough to pay benefits for the rest of the employees lifetime (Barr Diamond, 2006). It is noteworthy that pension is not included in the calculation of the GDP. Mainly, this is because they are not treated as payments for goods or services and therefore, do not signify a kind of final demand. Including pension fund in the calculation of the GDP will be a kind of double counting (Pension Spending 2016). Specifically, pension payments are a form of transfer payments that involve the reallocation of money from one individual to another. Also, pension payments do not result in the production of new products or services in a given year. Therefore, unless the recipient of the pension uses the funds to buy goods or services, the pension should not be utilized in the computation of the nations GDP (Nardelli 2015). Including it in the GDP will create a false indication that the country is experiencing economic growth or an increase in the production of goods and services without this necessarily being the case (Pension n.d.). Types of Unemployment Unemployment refers to the phenomenon in an economy where individuals are actively searching for work are unable to find work. Conversely, the unemployment rate is the measure of the prevalence of unemployment within a country. It is measured as a percentage by dividing the total number of unemployed persons with the number of individuals in the labor force. The main types of unemployment include structural, frictional, and seasonal unemployment. Cyclical unemployment Cyclical unemployment is attributed to economic contractions and occurs when the economy experiences downturns in the business cycle. Sometimes, it is referred to as demand-deficient unemployment or Keynesian unemployment. It is imperative to note that this type of unemployment often results from the insufficient aggregate supply in the economy to provide employment opportunities for everyone who is actively looking for work (Diamond 2013). During the economic downturns, demand for goods and services falls significantly, and less production is required. Consequently, fewer employees are required to meet the equilibrium. Source: (Nardelli 2015) Structural Unemployment This type of inflation occurs due to inefficiencies in the labor market. As such, it arises when there is a mismatch of skills required for the available jobs and the skills possessed by workers. Mismatch in skills or geographical location may arise due to occupation immobility, geographical immobility, and technological change. Occupational mobility results when there are jobs available, but the workers do not have the relevant skills to perform the job. On the other hand, geographical mobility occurs where the available jobs are far away from where the unemployed workers live, and it is impossible to relocate to the location of the job. Technological change may result in structural unemployment where the economy goes through changes forcing some industries to decline and reduce production, thereby lay off some workers. A good example of structural unemployment caused by technological change is where an industry fires its employees and replaces them with robots (Amadeo 2016). The workers are forced to retrain for other jobs. It is imperative to note that a prolonged recession in the economy may also lead to structural unemployment. When workers remain unemployed for an extended period, their skills become outdated (Amadeo 2016). Therefore, unless they are willing and able to work at a lower level, unskilled job, they may remain unemployed even after the economy recovers from the recession. (Amadeo 2016). Frictional Unemployment This type of unemployment normally occurs when individuals are searching for work or are transitioning from one job to another. Generally, it arises when workers leave their previous employment and are yet to get new jobs. Notably, frictional unemployment is a natural part of the job search process and only lasts for a short term (Luke 2010). It exists mainly because jobs and workers are heterogeneous, and a discrepancy could result between the characteristics of the demand and supply. Since individuals take time to find the most suitable job for their skills and desires, frictional unemployment is likely to exist within the economy. Classical Unemployment Sometimes, this type of unemployment is referred to as real wage unemployment. Typically, it occurs when wages are kept above the equilibrium level. It is triggered by minimum wage legislations and powerful trade union negotiations that set the minimum wage above the equilibrium wage rate. As a result, there is a surplus supply of labor as more workers are enticed by the new set wages. On the other hand, firms are unable to meet the new minimum wage requirements and decide to lay off some workers. Eventually, this leads to real wage unemployment as wages are sticky downwards (Amadeo 2016). Source: (Amadeo 2016) Voluntary Unemployment Voluntary unemployment occurs when individuals are able and capable of finding work at the prevailing economic conditions but choose not to work. Often, this is ascribed to the view that individuals prefer to wait for jobs that offer a higher wage rate or jobs that match a particular standard that they have set for themselves. When the wage rates are unusually low, the unemployed may have little incentive to enter the job market (Unemployment Types 2010). Seasonal Unemployment Seasonal unemployment arises due to the seasonality of some industries. It is a form of natural unemployment that results from regular changes in the season of business. Industries that may be affected by seasonal unemployment include ice cream vendors, ski instructors or tourism and resort workers (Mortimer 2014). Also, agricultural industries experience seasonal unemployment between the planting and harvesting seasons. Similarly, construction workers are left unemployed during winter in countries that experience winter. Is structural unemployment more or less serious than cyclical unemployment? In most cases, permanent jumps in the rate of unemployment are associated with structural unemployment. Many economists argue that while cyclical unemployment result from rises and falls in the business cycle, structural unemployment persists for long, even when the economy is experiencing substantial economic growth and development (Burtless 2012). Once structural unemployment is embedded in the economy, it is almost impossible to get rid of it (Burtless 2012). Over time, the traditional remedies for unemployment become less effective. For this reason, structural unemployment is more severe than cyclical unemployment. Reference List Amadeo, K 2016, 9 Types of Unemployment [Online] Available from: https://www.thebalance.com/types-of-unemployment-3305522 [Accessed 25 Oct. 2016]. Australian Government Department of Human Services, Age pension. [Online] Available from: https://www.humanservices.gov.au/customer/serives/centrelink/age-pension [Accessed 25 Oct. 2016]. Barr, N and Diamond P, 2006, The economics of pensions, vol. 22, no. 1, pp. 4-16 Available from: https://economics.mit.edu/files/1751 [Accessed 25 Oct. 2016]. Burtless, G 2012, High unemployment: Cyclical or Structural? [Online] Available from: https://www.bookings.edu/opinions/high-unemployment-cyclical-or-structural/ [Accessed 25 Oct. 2016]. Diamond, P, 2013, Cyclical Unemployment and Structural Unemployment. [Online] National Bureau of Economics Research Working Paper 18761. Available from: https:/www.nber.org/papers/w18761 [Accessed 25 Oct. 2016]. Economy Watch, 2010, Unemployment Types [Online] Available from: https://www.economywatch.com/unemployment/types/ [Accessed 25 Oct. 2016]. Econport, 2016, Types of Unemployment [Online] Available from: https://www.econport.org/content/handbook/Unemployment/Types.html [Accessed 25 Oct. 2016]. Janda, M, 2016, GDP: Australian economy grows 3.3pc over past year on secret fiscal stimulus [Online] Available from: abc.net.au/news/2016-09-07/gdp-economic-growth-data-abs-june-quarter/7822286 [Accessed 25 Oct. 2016]. Luke, J, 2010, Frictional, structural, Cyclical Unemployment defined. [Online] Available from: https:/www.google.com/amp/s/econproph.com/2010/08/17/frictional-structural-cyclical-nemployment-defined/amp/ [Accessed 25 Oct. 2016]. Mortimer, R 2014, Seasonal unemployment explained. [Online] Available from:www.romeconomics.com/seasonal-unemployment-explained/ [Accessed 25 Oct. 2016]. Nardelli, A 2015, Unsustainable futures? The Greek pensions dilemma explained [Online] Available from: https://www.theguardian.com/business/2015/jun/15/unsustainable-futures-greece-pensions-dilemma-explained-financial-crisis-default-eurozone [Accessed 25 Oct. 2016]. OECD, 2016, Pension spending [Online] Available from: https://data.oecd.org/socialexp/pension-spending.htm [Accessed 25 Oct. 2016]. Parliament of Australia, 2016, Gross domestic product [Online] Available from: https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/MSB/feature/FeatureGDP [Accessed 25 Oct. 2016]. Zorach, A 2010, Why GDP (Gross Domestic Product) is a Poor Measure of Wealth and Prosperity [Online] Available from: https://zorach.wordpress.com/2010/08/27/why-gdp-gross-domestic-product-is-a-poor-measure-of-wealth-and-prosperity/ [Accessed 25 Oct. 2016].