UK House Prices Essay Example | Topics and Well Written Essays - 2000 words

UK House Prices - Essay Example Any government has the power to regulate the economy of a country and not only does it regulate the economy, it has a vital role to ensure that the economic condition remains stable. It is the responsibility of the government to ensure that all the aspects of economy maintain a stable level so that the country can grow and expand. Government regulates many things in an economy including inflation, exports and imports, prices of many vital commodities, and also property prices to a large extent. Government of England has entrusted the job of determining the monetary policy, in the hands of Bank of England. Bank of England looks into many other big issues. One of the most important issues is that of ensuring monetary stability in the economy, which can be achieved through a combination of stable prices of goods and services across the economy coupled with a low inflation level and level of confidence of the investors in the currency of the country. The Bank comes out with the monetary policy in order to ensure a certain key objectives like, delivering price stability with a low inflation level coupled with an objective to support the Government's economic objectives of growth and employment. Price stability is taken care of, by the Government's usual inflation target of 2%. There is a need to contemplate the crucial and critical role played by price stability in achieving the aforesaid economic stability, and in providing just the right conditions for a sustainable and longe r living growth in output and employment. (How Monetary Policy Works) Inflation is a very sensitive concern that is one of the major economic factors and is generally impacted by the prices of different articles prevailing in an economy. For example, any increases in oil prices is expected to feed through into inflation over the next few years, and the gap between the value of imports and exports is growing to record levels, prompting expectations of a decline in the value of sterling, which is a welcome sign for the exporters but will hit the importers, as they will have to shell out more money for importing their raw materials leading to a further increase in inflation. Any decision is taken after considering the condition of the whole economy and all sections of the society at large and there are several other methods to tackle the prices of properties, but it will always be better to increase the rates at a slower but steady pace, rather than giving a monetary shock. Rising Inflation, if not tackled properly and at the right time may create a cycl e, wherein the inflation keeps rising due to no change in interest rates. Factors Influencing Property Prices in UK Assessing the price of a property is not an easy job, there are three main methods besides the economic factors that determine value, namely "Comparable Sales Method", "Income Approach" and the "Cost Approach" (Property Valuation for Home Buyers), but these methods are just a tool for a prospective seller to determine the price of the house they are going to sell and this price definitely influences the price at, which the transaction actually takes place. Let us now analyze how the concept of value plays a role in determining the prices and what

HNC Electrical Engineering Essay Example | Topics and Well Written Essays - 1500 words

HNC Electrical Engineering - Essay Example Fortescue, who introduced the method around 1918.....(1) However, it remained difficult to understand the three-phase system working under this concept, as any change in the voltage or current in any single phase could result in the corresponding changes in other two phases as well. Therefore, only two-phase alternating current was used in the power systems and it had 90-degree difference between the phases.(2n) Hence the two-phase power-generating concept was developed. However, we have evidence of using two-phase generators by connecting two single-phase ones, as early as 1890s........(2) In simpler terms, three-phase power system is the one that uses three different wires. One wire can be a neutral cable, which facilitates the system to use higher voltages while transmitting low voltages in domestic appliances. However, those machines that use high voltage allocations, the neutral cable requirement is not there as negligible loads are connected between the phases. In three phase power systems the power load is well distributed, as all the three wires have same magnitude of current with balance power load. Most of the countries have their own color-coding of the wires to distinguish the same in case of repairs. The three-phase power system is the widely used power in all industries, as it has balanced power load with uniform phase angle difference. However, the requirement of the household appliances and applications can be met with the single or two-phase systems as well. All electric motors are the fine example of three-phase power usage, as a three phase induction motor runs efficiently and has high starting torque with trouble-free design. The application of such motors can be found in fans, blowers, compressors etc. While these are medium and large size motors, application of very small three phase motors can be found in computer fans etc. The main advantage