Homo Economicus Myth or Reality Essay Example | Topics and Well Written Essays - 1500 words - 1

Homo Economicus Myth or Reality - Essay Example The question which arises at this point is; why do economists use this model of Homo Economicus? There are basically three reasons for this practice:-†¢Ã‚  In real life it is very difficult to accurately predict or explain human behaviour. Therefore, economists assume humans to be perfect i.e. perfectly rational, perfectly self-interested etc. Thus by simplifying humans they simplify their task of economic analysis. [1].†¢Ã‚  This practice enables economists to enumerate their assumptions in mathematical terms which makes them easier to understand. [1].†¢Ã‚  Picking the right assumptions enables economists to generate the desired results. [1].  Ã‚  Prominent economists of the Austrian school like Thorstein Veblen, John Maynard Keynes, Herbert Simon etc. consider homo economicus as an actor in understanding macroeconomics and economic forecasting. [3]. In their view, since perfect knowledge never exists therefore, all economic activity entails risk. Their stress is on bounded rationality and uncertainty in making economic decisions. [3].  Ã‚  Another angle to the concept of Homo Economicus is that â€Å"  Classical economics did not assert that the economizing individual, whether engaged in trade or as a consumer, acts as if the greatest monetary profit were the sole guiding principle of his conduct. The classical scheme is not at all applicable to consumption or the consumer. It did not escape even the classical economists that the economizing individual as a party engaged in trade does not always and cannot always remain true.

Plasma Membrane and Diffusion Case Study Example | Topics and Well Written Essays - 750 words

Plasma Membrane and Diffusion - Case Study Example Diffusion is a means of active transport which results from thermal, random movement of molecular particles from regions of high concentrations to regions of low concentrations(3). There are six factors which influence diffusions in fluids, these includes: Concentration gradient, size of the molecules involved, Distance travelled by the molecules, Temperature of the medium and the molecules, Solubility of the molecule and the surface area of the plasma membrane in which the molecule can carry out its activities, Hence the rate of diffusion is given by the ratio of the product of solubility, gradient, temperature, surface and the product of distance the molecules moves by the square root of the mass of the molecule. Diffusion can be classified into three categories or types, which include; simple diffusion, channel diffusion and facilitated diffusion(3).Simple diffusion occurs when micro or small non-polar molecular particles go through a fluid (liquid or gases) mostly liquids through a lipid bilayer. This diffusion type is characterized by hydrophobic molecules moving to hydrophobic regions without being rejected(3). Hydrophilic molecules do not participate in simple diffusion because they would be rejected when they move into the hydrophobic region of the membrane.Channel diffusion is a type of passive transport which involves channel proteins in which the molecule moves through an open, aqueous pore and it can be regulated. Charged particles and ions can pass through the pore (1).