CASE
STUDY 3.1
1.
Pulse Feel: Based on article, meaning of the
term is the instinct that flash out from mind to react something based on the
current situation. For example from the article, `but the pulse feel
that may sometimes guide people to what turns out to be a correct hunch’.
Gut
Reaction: Based on article, meaning of the term is the action taken by
someone and give positive results to others. For example from the article, `but
his gut
reaction to the situation guided him to a policy so sucessful that
he was invited in prestigious universities at home and abroad to explain the
miracle’.
2.
The policy the
ministry implemented prove so sucessful because the
minister advise about streamlining of the labour force and raising railway
fares and freights as apparent remedial actions. At the same time, he indeed
surprised all and sundry doing just the opposite, railways lowered fares and
freights across the board and did not resort to retrenchment of the work force.
3.
The nature of price
elasticity of rail transport in India in the light of the above experience
about the miracle is when indian railways had been in
the red over the decades, not even able to pay the low dividend to the central
government. The minister of railways surprised all and sundry that railway
lowered fares and freights across the board. The result, Indian railways
cleared their accumulated dividend debt to the government. The minister
probably knew what elasticity of demand was about. The demand of railways
service are increase, so the minister is looking forward that price must be
lower so that they can clear the debt which is get from the income that
increasing. (Price decrease, Quantity Demand increase)
Source:
Zubair Hassan (2015). Economics With Islamic Orientation, Selangor:
Oxford Fajar Sdn. Bhd.
No comments:
Post a Comment