WHAT IS LATENT DEMAND AND THE P.I.E.?The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The market is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand for marshmallow, cream-filled, and oatmeal cookies, wafers, toaster pastries, ice cream cones and cups excluding frozen types is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a country market.
For reasons discussed later, this report does not consider the notion of unit quantities, only total latent revenues (i.e., a calculation of price times q
We know what mommies do, don't we? They are the pinnacle of a family that seem to do it all regardless of day or night, working, cleaning, cooking, baby care, diaper changing, and on goes the list. But, what about those daddies who contribute to? Has anyone given due credit to those fathers who also help to keep family chores on a more even keel? If not, then let me add one tribute for all those fathers out there who beg for some recognition, although silently.
Baby bottle feeding, especially through the night for new born babies, can be a draining experience. Night after night, you listen with one ear for those faint little noises that come from a baby in need. Sleeping soundly is really only a fantasy. If you are one of those fathers who have taken over night duties so that your spouse can get some badly needed sleep, then you certainly deserve this recognition.
I can certainly remember those nights vividly. With two baby boys, the nightly routine is etched into my memory cells as if it was yesterday. And, it's not that I didn't find that special warmth inside that made those nightly feedings worthwhile. But, it is more about those sleeping hours that were interrupted at uncoordinated times by each of the babies.
It seemed that the youngest was usually ready for a nightly feeding around two o'clock. This wasn't so bad even though I had just fallen into a deep sleep around midnight. Out to the kitchen, warming the bottle became something of a robot like routine. Quietly padding my way to the crib, gently picking him up to hold him close, while standing to wait until those small little eyes started to fade into his own dream world. It wasn't hard at all to get him back to sleep in his crib with those soft little breathes slowing rising and falling as I watched him lovingly.
Back to bed I'd go knowing full well that my other son would soon be awake demanding that I start over again and give him his deserved attention. While I knew he would soon wake, I couldn't keep my eyes open any longer. How foolish I was. It always seemed that as I just fell to sleep, I would hear those cries emanating from his expectant lips around 4 o'clock. Oh, how I could use a decent night's sleep; just one night.
Off to the kitchen again, warming the bottle and softly treading to his bed. Picking him up, holding him close, and waiting patiently for a satisfied baby to fall back to sleep. Oh, yes, those little eyes are stating to fade. Ever so gently I would place him back into his crib hoping that he would sleep so I too could find slumber within seconds of my head hitting the pillow. My alarm clock would soon shrilly call me to rise to get ready to go to work. But, it just never seemed to happen as much as I wished and hoped. That baby boy wouldn't sleep as he should demanding more of my tender attention.
I was fortunate to have a comfortable chair beside his crib, and as I would repeat for what seemed endless nights, I would sit with him cradled in my arms waiting again for drooping eyes to take him off to a gentle sleep. Why was it, then, that each morning I'd awake to the shrill calls of an alarm waking me sitting in that chair, baby in arms, and me with a crook in my neck?
Now, all those people at work would finally know the truth behind this man walking throughout the day with a crook in his neck.
Visit Baby Boy Names. Find names that are unique and unusual names for your new son, as well as traditional names and the top 100 baby boy names. Plus take time to read our baby poems and quotes. http://www.babyboynames4u.com/
Vaughn 8400 Epic Goalie Leg Pads Junior
No comments:
Post a Comment