The Cost of Something Essay Example | Topics and Well Written Essays - 500 words

The Cost of Something - Essay Example I guess there’s more to gain. According to swlearning.com, decision-makers have to consider both the obvious and implicit costs of their actions. Based on Merriam-webster.com, obvious means seen, on the other hand, the word implicit signifies unexpressed idea but has the capability of being understood. Firstly, to have a better picture of it, $75 economic profit that I supposed to receive from watching the Hot Stuff’s concert is the obvious cost of my decision. On the contrary, the fuel and energy that I will save, plus the extra time I can go back to my lessons for the exam the following day are the implicit costs of a wrong decision. So, watching the Good Times Band give me a sigh of relief, there’s no more thinking of driving a long way home and I won’t cram anymore for a last-minute scanning of notes. Anyway, decisions like this are not an easy task as always. Without examining the cost, or without understanding the concept of economics by Gregory Mankiw, I might have chosen the Hut Stuff band because I value it higher than the other one. Simply analyzed, Hut Stuff is my favorite, but they are rather both the best bands. Consumers and decision-makers must be aware of the â€Å"seen† and â€Å"unexpressed† costs of their actions economically. What would be more than $75 gain? Or is it a gain or loss? Well, one can only tell if the unexpressed cost is disclosed. The latter has been defined as capable of being understood, although it’s hidden but it can be recognized in the point of making decisions. One must not be a genius of arithmetic, solving the costs entails the basic math equation which are addition and subtraction, together with the right estimates of value of the implied benefits. How can I value the fuel or the fare? Well, it’s getting obvious by now. How much is the gasoline right now? Or how much is the bus fare? How about the energy I can save for not spending much of it for a long drive or trip? What is the value of getting a good

Theoretical and Conceptual Frameworks in Nursing Practice Research Paper - 1

Theoretical and Conceptual Frameworks in Nursing Practice - Research Paper Example The patients’ overall well-being should be at the centre of nursing. In line with this, nurses need to relate professional knowledge into clinical practice, through theoretical and conceptual frameworks bridges, dynamically linking care between health personnel and care, recipients, in consideration with environmental factors. The body of knowledge in nursing had been divided into several categories to distinguish bulks of nursing concepts constructed. Fawcett (1995 as cited in Timmins, 2005) identified hierarchical structure in nursing knowledge, where different levels are interconnected in clinical fields: â€Å"(1) metaparadigm (2) philosophy (3) theory (4), conceptual models.† Metaparadigms are quite broad in context, which translate clinical values indicated in constructed philosophies, while theories are more specific in experiential nursing fields. Fawcett (1994 as cited in Masters, 2005) added that conceptual models, being the last, pertain to sets of nursing abstracts and propositions that are meaningfully integrated for valid reference in nursing disciplines. One of the fundamental bases in the modern nursing profession is the theory created by Florence Nightingale. Her philosophical concepts are simple in construct, though, it primarily stabilized how nurses act in deference to patient in teraction. In her environmental model for nurses, Nightingale proposed that elements observed in the environment can have a significant impact on patients’ health conditions (Butts & Rich, 2010). The model substantially linked three important entities together: the patient, nurses, and their environment. Her meta-paradigm in Figure 1 (please see Appendix A), showed these three factors that may influence outcomes in health.