Market forces

Twenty key issues-the City, trade unions, free market forces and many others - are presented clearly and fully in this major book based on a television series. 

Market forces determine the demand for a product, and the demand will be used to forecast the sales of hydrocarbons. This will be one of the factors considered by some governments when setting the production targets for the oil company. For example, much of the gas produced in the South China Sea is liquefied and exported by tanker to Japan for industrial and domestic use the contract agreed with the Japanese purchaser will drive the production levels set by the National Oil Company. 

There is a general relationship between metal price and terrestrial concentration. Metals present at relatively high concentrations, in the earth s cmst, such as iron and aluminum, are the least expensive rare metals such as gold and platinum are the most valuable. This situation has existed for gold and silver valuation for centuries. The amount of silver in the earth s cmst is approximately 20 times that of gold, and the historical price ratio for gold and silver varied between 10 and 16 for over 3000 years. Since 1970 that price ratio has been strongly affected by market forces and investor speculation. 

As a result of this oversupply, scrap values for many recyclable materials have fallen noticeably over the past few years. Further complicating matters are new efforts from regulators and environmental activists to mandate the reuse of certain materials (rates and dates) and that products be made with specified amounts of recycled material (product content laws). Such demand-side measures distort market forces and do not appear to be justified on either economic or environmental grounds. 

Economic Aspects. The principal market for deuterium has been as a moderator for nuclear fission reactors fueled by unenriched uranium. The decline in nuclear reactor constmetion has sharply reduced the demand for heavy water. The United States has stopped large-scale production of D2O, and Canada is the only suppHer of heavy water at this time. Heavy water is priced as a fine chemical, and its price is not subject to market forces. 

This review adopts the broad perspective, recognizing that the primai y policy mechanisms applied to improve energy efficiency—minimum efficiency standards, incentive programs, normative and informative labeling progi ams, and technology-driven market forces—can address a vei"y wide variety of products. 

Each of these products is different each uses a different technology, is subject to different market forces, different production characteristics, distribution practices, and pricing systems. Yet, the dominant trends in energy efficiency, and in the policies used to affect it, show rcniarkablc siniilarity across end uses. 

World trade in coal totaled 576 million tons (524 million tonnes) in 1998, of which 523 million tons (476 million tonnes) shipped in oceangoing vessels. Coal shipments use the same dry bulk vessels that transport other bulk commodities, such as iron ore and bauxite, so vessel rates for coal shipments arc hostage to wider market forces. However, the cyclic pattern observable in vessel rates disguises the long-term trend in which rates have varied little in nominal terms. For example, spot vessel coal rates in the 1998-1999 time period were about the same as in the mid-1980s, varying between 5 and 10 per ton. 

Economic concerns differ sharply from those of natural scientists and engineers. The most critical difference is in the outlook towards supply development. Many economists argue that market forces allow smooth adjustments to whatever happens to the physical stock of resources. Potentially, these market forces can produce resources cheaper than other methods presently employed to cause adjustments. At worst, the cost rises will be gradual and manageable. In contrast, these economists stress the harmful effects of governments on energy. 

A major influence on this optimism in market forces is obseiwatioii that, historically, technical... 

In these restructured electric markets, prices will be determined more by market forces and less by regulatory proceedings. To some, introducing competition will promote more efficient markets, providing the proper financial incentives for firms to enter or leave the industiy. In this way, consumers will benefit from lower production costs and, hcncc, reduced electricity prices. To others, restructuring will increase electricity prices for some customers, sacrifice the current environmental and social benefits, and jeopardize system reliability of the status quo. 

After a short introduction to the company and its products, the specification should describe in some detail the reasons why a new layout is needed. This will vary from the introduction of, or change to, new products, the establishment of a new factory or the need to explore the changing future demands on an existing site because of changing technology or market forces and opportunities. (Contracts are described in detail in Chapter 8.)... 

The industry acknowledged women quickly as a market force, as cocktail-compatible spirits like vodka and flavored vodkas led liquor sales to the detriment of the brown barroom standards like whiskey, and bars and lounges became as design-conscious as boutiques, or as visibly unconcerned with gender issues as a co-ed college dormitory. 

All of the methods of recovery and recycle have been limited by market forces. However, the importance of environmental issues in the selection of the HBr conversion or recycle processes has only more recently been recognized (refs. 5, 6). For example, proposed restrictions (refs. 7, 8) on methyl bromide manufacture could eliminate this high-volume, economical route to HBr conversion. 

The simplest economic theories assume— somewhat unrealistically—that markets work sufficiendy well to ensure that society s scarce resources are allocated efficiendy. Of course, few markets are as well-behaved as in the elementary textbook, but nevertheless market forces can often be relied upon to allocate goods and services reasonably well between competing demands. If this is the case, then the need for economic evaluation of the costs and outcomes flowing from alternative uses of scarce resources is lessened. Mental health-care services in Britain are purchased and provided within internal markets (quasi-markets) within the state sector (mainly), and these muted market forces have clearly had some influence over allocations. Market forces have a more overt role in countries such as the USA, strongly influencing who obtains what service and at what cost to different parties. However, it is difficult to imagine circumstances in which techniques such as... 

If it can be assumed that world market forces will level out the prices of equipment, the UK price can be estimated from the US price by bringing the cost up to date using a suitable US price index, converting to pounds sterling at the current rate of exchange, and adding an allowance for freight and duty. 

Caution Use these prices only as a rough guide to the probable price range. Actual prices at a given time will vary considerably from these values, depending on location, contract quantities, and the prevailing market forces. 

A tradable permit system is defined as quantity-based environmental policy instrument. The regulatory authority stipulates the allowable total amount of emissions (cap) and the right to emit becomes a tradable commodity. Under a cap-and-trade system, prices are allowed to fluctuate according to market forces. Thus, the price of emissions is established indirectly. Permits could be allocated to firms through auction or free allocation. 

Similarly to other environmental taxes, carbon taxes are defined as priced-based policy instruments for the correlated effects to increase the price of certain goods and services, thereby decreasing the quantity demanded. On the other side, tradable permits are defined as quantity-based environmental policy instrument. Although both policy instruments are MB, their implementation is different carbon taxes fix the marginal cost for carbon emissions and allow quantities emitted to adjust, whereas tradable permits fix the total amount of carbon emitted and allow price levels to change according to market forces. 

The economic viability of the whole process is consequently determined, in addition to various market forces, by the efficiencies of these three stages and the velocities of the syntheses. Since the synthesis of poly(3HB) requires the cells both as a catalyst and as a reactor (cell factory), the overall yield is also influenced by the cellular content of the polymer. 

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