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Personality theory Report

Many people use the term ‘personality’ to identify the characteristics of an individual or the kind of skills a person has. Psychologists who study human personality tend to use idiographic or homothetic techniques in trying to explain the aspects of human behavior. “Personality theories organize what of which we already know, stimulate new research and give theorists an opportunity to specify a view in personality” (Engler, 2008)

Trait theory Trait theory is the primary personality theory that is biologically based on classical human genetics. Such utterances as being outgoing, kind, hot tempered are some of the words used to describe individual.

All this words can be concluded to being the personal traits of an individual. Most of time we use an individual characteristic to explain their behavior. Theorist who studied this theory focused on the difference in character portrayed by different individuals.

The Idea behind this theory is that, how an individual behaves, is dictated by the joint effects of the organisms inherited capabilities and past experience. It centers on the capability of recognizing and measuring a person’s personality.

One of the early theorists to study this theory was Gordon Allport in 1937. He began his research after noting that there were almost over 4000 words which could be used to describe character trait of a person from a single dictionary. His approach was based on the differentiating the different types of traits within a person (Richard, 2007).

According to him, the central human traits were dictating the personality of individual e.g personality expressions while the secondary human traits were more peripheral and did not manifest immediately.

He also thought that the most common traits were the ones which were recognized in a cultural context which varied across different cultural practices. Besides Gordon, Theorists such as William Sheldon also took part in trying to explain the traits theory.

Get your 100% original paper on any topic done in as little as 3 hours Learn More This theory is argued on the basis of how one would carry out the study which was through idiographic or homothetic techniques.

Gordon applied the principles of scientific taxonomy as he studied the character traits of different people, another principle he applied was expanding a unified theory of personality in a general manner other than the specific aspects of it which was later reviewed by Raymond Cattell and Hans Eysenck (theorists).

Important aspects about this theory according to Gordon are that personality is dynamic adult and children have different motivation schemes, he also believes that with a few character traits one can easily explain an individual behavior and conscious values can be used to shape the personality of a person.

Allport theory is completely viable in the sense that it is credible. Its concept primarily relies on the learning theory, psychoanalysis and existentialism. Although many other theorists find his work more descriptive and it lacks specific propositions from which a researcher can conduct tests and get the result from.

The validity of trait measures and its objectivity has been well defined in the five factor model which defines neuroticism, extraversion, conscientiousness, openness and agreeableness all which have brought order and understanding to the traits theory.

Most physiologists assumed that traits could be used to explain human abilities. Issues related to culture, national origin, native language, gender, racial identity are some of the differences between people. These aspects are known to explain the kind of character trait a person is believed to have.

It is considered that personality traits structure transcends cultural differences (Engler, 2008). The theory has been used to look at specific cultural manifestations of common personality dimensions especially upon the big five personality traits with the only difference being the modest created for each of these traits.

We will write a custom Report on Personality theory specifically for you! Get your first paper with 15% OFF Learn More References Engler, B. (2008).Personality Theories: An Introduction. New York, NY; Cengage Learning,

Richard M. (2007). Theories of Personality. New York, NY; Cengage Learning,

The American Economy Analytical Essay

Nursing Assignment Help Introduction The U.S. economy remains the largest economy in the world despite the fast emerging economies such as China, Japan and India among others. These emerging economies threaten the U.S. economy with regard to losing of its competitive advantage. However, in 2010, the GDP of U.S. was estimated to be at $ 14.7 trillion.

This estimate clearly positions U.S. economy at the frontline. The U.S. economy is also widely known for maintaining high output per capita that enables it to rank at sixth position worldwide. Additionally, the U.S. ranks among the top well recognized countries in trade and commerce.

The supremacy of U.S. economy might be strongly drawn from its ability to maintain stable gross domestic product, high levels of research, maintenance of low unemployment levels and high levels of capital investments at the national and international level.

To understand the economy of U.S. more clearly it will be somewhat prudent to subdivide the economy into subsections for easy comprehension of the economical units. This will further enable one to appreciate the economy in general and more significantly to conquer with suggestions provided to improve the economy as well as coming up with personal opinion.

Income and wealth

The report released in the beginning of 2008 indicated that the pretax median household income was at the average $50,000 for the year 2007. The median household income ranged from one region to another. For instance, in Maryland it was at $68,000 while for Mississippi was at $36,000.

There was an increase of income from 2006 to year 2007 for employees who worked full time. Similar increase was also notable in women. The rising economy was mostly credited to the increasing income from the taxpayers. However, the number of employment dropped significantly in the year 2008 after the nation faced economic crisis.

Retailing

This is the major sector of the U.S. economy. The common retailing enterprises in the U.S. include Montgomery, Target, Burger King and Wal-Mart (Landefeld 40).

Get your 100% original paper on any topic done in as little as 3 hours Learn More These firms are mostly concerned with producing consumer goods. These firms frequently raise prices of their products due to the ever-increasing energy and labor costs. This consequently affects the economy and sometimes the government is forced to intervene the operations of such businesses to safeguard consumers.

Agriculture

The large fertile land and technologically improved methods of crops cultivation have enabled the U.S. economy to produce about a half of the total grains consumed worldwide. The products produced are corn, wheat, cotton, fruits, dairy products, fish, vegetables and poultry among others.

Additionally, U.S. is among the few countries that enjoys subsidies from the government especially in the agricultural sector. This has consequently resulted to more production of agricultural products (Landefeld and Barbara 163).

Finance

The U.S. posses a number of great stock markets in the world. New York stock Exchange is the largest stock exchange with a capitalization of US$10.1 trillion for the companies listed over there.

Another great stock exchange known as NASDAQ is third in the world after Japan’s Tokyo Stock Exchange though it is reported to have a higher trade volume per hour as compared to JTSE. About 3,800 companies have listed their shares with NASDAQ stock exchange.

Manufacturing

A report produced in 2008 indicates that the manufacturing output of US economy was larger as compared to that of China, India and Brazil when combined.

The industrial output for the year 2007 was at $2.69 trillion. Among the industries that contributed to this output include petroleum, steel, automobiles, telecommunication, chemicals, electronics, consumer goods, mining , lumber, agricultural manufacturers and aerospace.

We will write a custom Essay on The American Economy specifically for you! Get your first paper with 15% OFF Learn More In fact, the U.S. is known for being the leading country in manufacturing airplanes. Companies that engage in activities of producing airplanes include Boeing, Lockheed, General Dynamics and Cessna. In spite of the great stake, they hold at the global level, recently US economy faced job losses in the industrial sector.

Energy

The U.S. is the largest economy well known for consuming high amount of energy. Most of the energy consumed is attained from fossil fuels.

On average, 23% of total energy comes from coal, 24% from natural gas, 7.4% from nuclear power, and 6.6% from the renewable hydroelectric energy while 40% of the energy comes from petroleum.

In general, transportation sector has been recognized to be largest sector consuming highest level of energy averaging 69% of the total oil used in U.S. Transportation sector mostly consume the oil energy (Landefeld and Barbara 33).

International trade

The U.S. is the largest nation that participates in the international trade. It imports more products than any other country in the world. It is also renowned to be among the few nations that outsource its’ services. This has led their currency to be in high circulation across the world.

More importantly, the US currency has always been used in the international markets as a standard unit of currency for many commodities such as petroleum. Most strong economies such as China hold U.S. currency reserves for investment and international trade purposes.

However, U.S. is criticized for having imbalanced international trade as imports are reported to exceed exports. For instance, the imports for the 2008 were at $2.5 trillion while exports were at $1.8 trillion.

Recently, the U.S. economy is said to operate with high public deficit in which most strong economies are threatening to stop holding U.S. dollar reserves. The economic crisis of 2008 had somewhat reduced the trading volume of the U.S. economy as most big companies were incapacitated. In particular, the import volume went down.

Not sure if you can write a paper on The American Economy by yourself? We can help you for only $16.05 $11/page Learn More Government intervention in the economy The government of the U.S. intervene the market in a number of ways. Some direct involvement includes set of rules that guides the market with a view of controlling market prices.

Among these rules, include those set for the banking system such as the minimum depository requirement by the Federal Reserve as for all commercial banks. These rules focus on full disclosure for prudent decision making by investors and employees, fraud prevention and more importantly upholding lending to the lower-income section.

The government also controls the private sector in a bid to push for social goals. For instance, the U.S. government established the Occupational Safety and Health Administration that advocates safe working environment.

Other policies established by the government include the U.S. Environmental Protection Agency and the Food and Drug Administration. However, these regulations were seen to make expensive the operation of most business (Barrett 27). These expenses were incurred in establishing labor, consumer and environmental rules.

Taxation and government spending Taxation is levied at various levels in the U.S. economy. Majorly, federal government, state government and local government charge the tax. Federal government, state government and local government often collect an average of 40% of the consumers’ income. Taxation forms major part of income for the U.S. economy.

The U.S. government expends its finances in several direct services. These services includes provision of national defense, supporting research that leads to innovation of products at the market and running programs that help employees improve their skills. The government is also concerned with providing infrastructure such as road construction. Recently, the government increased its spending in the health sector.

The U.S. has been having a kind of economy in which expenses exceed revenues. This means the government frequently faces budget deficits that have increased the public debt. The government always gets additional finances from the issue of bonds at the domestic and international market.

Emergence of fastest growing economies With this general knowledge of U.S. economy, we will be able to understand on what needs to be done to bring the economy back on track as it is losing its grips economically due to a number of factors.

In the recent global economy, countries such as China, India, France, Japan and other Asian and European countries have portrayed strong economic growth that is exerting pressure on the competitiveness of the U.S. economy. In fact, China has astonished the world by being able to produce goods and services at the lowest cost. Today china ranks high in exporting its products across the world. U.S. on the contrary is losing its exports to China and Japan (Lieberman 76).

Importance of having a good market structure A good analysis of the market would help the U.S. economy pick up again with strong spirit. It is recognized that the economy of a country depends on the output of the industries.

If an industry is producing more products then most probably an economy will experience low unemployment levels. This is because the industry will employ more workers. It may also increase employees’ salary due high profits because of massive production.

Consequently, there will be a general increase in the level of income. More income will mean more spending and more savings that will lower rate of borrowing from banks and financial institutions. Due to these factors, the level of investment would increase drastically.

Indeed, more consumption will induce some industries to produce more products. Other factors such as technology also need to be put into consideration when it comes to production.

Technology was once known to spawn most industries in the U.S. It has helped improve efficiency and effectiveness (Lieberman 36). Therefore, an individual should study the market close to make some informed decisions on how to improve the economy in general. In fact, this is what needed to be done to ensure U.S. does not face continued economic slowdown.

Typically, the U.S. economy is a mixed because only a small number of firms are publicly owned while the rest are privately owned. This market is free and only has little intervention from the government. Therefore, the forces of demand and supply of the products that falls under same industry commonly determine prices and quantity to be sold.

A graph showing price determination in perfect competitive market This ensures there is competition at the market. Fair competition helps most companies to ponder over the most efficient methods of reducing cost of operations with the main reason of selling their products at lower cost as well as making reasonable profit.

The competition also forces the companies to produce high quality products that will automatically attract the customers. At the end, this kind of industry will become so efficient at the national level and eventually at the international level.

Therefore, it is wise for the government not to interfere with the market operations because it is responsible for monitoring and controlling business operations in the economy. It may only do so at extreme levels especially where few large companies are merging to form monopoly. This mostly happens in an oligopoly market where few firms exist.

It has been wise for the U.S. government to avoid large oil companies from both unfair acquisition and merging. It therefore means that perfect competitive market might be the best market that induces price reduction as well as quality improvement. This will later have a strong effect at the global market (Lieberman 115).

As far as US economy is concerned, the main question that remains unanswered is whether US market will be able to produce commodities at lower cost as compared to other markets elsewhere in the world. U.S. market particularly failed to produce products at affordable costs worldwide due to its high labor cost.

The strength of the U.S. dollar might also explain this scenario if viewed in the light of other currencies such as that of China.

High taxes imposed on U.S. goods hikes the level of U.S. products. Therefore, this means a number of steps need to be taken to safeguard US market and economy in general. Of course reducing cost of production is not easy because no worker will accept his wage to be slashed.

Research

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