Mncs And Drug Patents On India - 1903 Words

MNCs and Drug Patents in India Word count: 1638 Once upon a time, breaking the patent law saved a country and it’s people, and enabled its economy to grow exponentially. In 1972, India changed its patent laws, started producing drugs that were patented, and significantly improved it’s economy by driving out the multinational pharmaceutical companies that had created a monopoly in the pharmaceutical industry. In economics, monopoly refers to a â€Å"situation in which a single company or group owns all or nearly all of the market for a given type of product or service. By definition, monopoly is characterized by an absence of competition, which often results in high prices and inferior products,† according to Investopedia.com. (5) In short,†¦show more content†¦When there is a monopoly, though it depends on what the circumstances are, the demands for the good or the service tends to be highly inelastic. This is because there are none or not many substitute goods. As a result, the firm does not have to change the supplies in respect to the change in demand, they can charge the consumers as much as they want to, and will not have incentives to improve their product or service. Rather than improving the product or service, the firms will try to get rid off possible competitions before they become a threat. The question is: is monopoly good? We will investigate by looking at h istory of patents in the field of pharmaceuticals in India. One example of monopolies caused by patents or copyrights is multinational companies, or MNCs, in the field of pharmaceuticals. Multinational pharmaceutical corporations produce many, if not most, of the popular drugs. For example, Pfizer, a multinational pharmaceutical corporation based in New York, has patents for many of the best-selling drugs, causing monopoly. Some of the drugs include, but are not limited to, Lipitor, Lyrics, Viagra, and Zithromax. (8) Thanks to the patents, these drugs, among with all the other drugs Pfizer produces and sells bring in annual revenue of over 50 billion dollars. (7) MNCs like Pfizer have a lot of advantage in the pharmaceuticals

Whats a Good Biology SAT Subject Test Score in 2019

In general, youre going to want a Biology SAT Subject Test Score in the 700s for highly selective colleges and universities. A lower score wont exclude you from serious consideration, but the majority of admitted students will have scores of 700 or higher. Discussion of Biology SAT Subject Test Scores What Biology SAT Subject Test score you are going to need, of course, will vary a bit from college to college, but this article will give a general overview of what defines a good Biology SAT Subject Test score.   The table at the bottom of the page shows the correlation between Biology SAT scores and the percentile ranking of students who took the Ecological Biology and the Molecular Biology exam. Thus, 74% of test takers scored a 700 or below on the Ecological Biology exam, and 61% scored a 700 or below on the Molecular Biology exam. SAT Subject Test scores cant be compared to general SAT scores because the subject tests are taken by a higher percentage of high-achieving students than the regular SAT. Primarily elite and highly selective schools require SAT Subject Test scores, whereas the majority of colleges and universities require SAT or ACT scores. As a result, the average scores for SAT Subject Tests are significantly higher than those for the regular SAT. For the Ecological Biology SAT Subject Test, the mean score is 618, and for the Molecular Biology exam, the mean is 650 (compared to an mean of 536 for the SAT evidence-based reading exam and 531 for the math exam). Which Biology Subject Test Should You Take? The Biology Subject Test offers two options: the Ecological Biology exam and the Molecular Biology exam. For the graduating class of 2016-18, 91,866 students took the ecology exam while 116,622 students took the molecular exam. Colleges generally dont have a preference for one exam over the other, but a high score on the ecology exam will be a little more impressive than the same score on the molecular exam. This is simply because the percentiles are different. For example, youll see from the table below that 9% of students taking the molecular exam scored a 790 or higher while only 4% of students taking the ecology exam earned a 790 or 800. What Top Colleges Say about SAT Subject Tests Most colleges do not publicize their SAT Subject Test admissions data. However, for elite colleges, you will ideally have scores in the 700s as youll see from the insights some top schools, provide to the scores theyre used to seeing from competitive applicants. If youre looking at Ivy League schools, aim high. Princeton Universitys admissions website states that the middle 50% of admitted applicants had SAT Subject Test scores between 710 and 790. Those numbers tell us that 25% of applicants received 790s or 800s on their SAT Subject Tests. AT MIT, the numbers are even higher with the middle 50% of applicants scoring between 740 and 800. Thus, over a quarter of all admitted students had Subject Tests scores of 800. At MIT, these scores tend to be in math and science fields. For top liberal arts colleges, the ranges are slightly lower, but still quite high. Middlebury Colleges admissions website notes that they are used to seeing scores in the low to middle 700s, while at Williams College, over two-thirds of admitted students score above a 700. The countrys best public universities are similarly selective. At UCLA, for example, 75% of admitted students scored between 700 and 800 on their best SAT Subject Test. Biology SAT Subject Test Scores and Percentiles Biology SAT Subject Test Score Percentile (Ecological) Percentile (Molecular) 800 97 94 790 96 91 780 95 89 770 92 86 760 91 82 750 88 79 740 86 75 730 83 72 720 80 68 710 77 64 700 74 61 680 67 53 660 60 46 640 52 39 620 44 32 600 37 27 580 31 22 560 25 18 540 21 14 520 17 12 500 13 10 480 11 8 460 9 6 440 7 5 420 6 4 400 5 3 380 3 2 360 2 2 340 1 1 Data source for the table above: the  College Board website. A Final Word About the Biology SAT Subject Test As this limited data shows, a strong application will usually have SAT Subject Test scores in the 700s. Realize, however, that all elite schools have a holistic admissions process, and significant strengths in other areas can make up for a less-than-ideal test score. Also realize that the majority of colleges do not require SAT Subject Tests, and schools such as Princeton recommend but do not require the exams. Very few colleges use the Biology SAT Subject Test to award course credit or to place students out of introductory level courses. A good score on the  AP Biology exam, however, often will earn students college credit. While no such tool exists for the Biology exam, you can use this  free calculator from Cappex  to learn your chances of being admitted to a college based on your GPA and general SAT scores.

Who Are the Low Information Voters

Youve studied the issues and candidates for weeks, maybe even months or years. You know who believes what and why. Congratulations, your vote is very likely going to be canceled out by a low-information voter who has probably put very little effort into this all. If you are lucky, that voter will complement your vote. But with the press and mass entertainment industry against what you believe in, are you feeling lucky? The beloved low-information voters, as they are called, became a popular term for conservative activists following the 2008 election of Barack Obama. It popped up frequently during the 2012 election between Obama and Republican challenger Mitt Romney. While the phrase is often used jokingly, it is also a serious description of a very large group of people. Its probably the dominant type of voter in reality. But that is the world we live in. While the term might be viewed as being insulting to some voters, the reality is this segment poses a credible problem for Republican politicians. Who Are the Low Information Voters? The oft-talked about low-information voters are those people who have little interest in or understanding of political affairs, rarely watch the news, and cant name major political figures or national events and still make voting decisions on this limited knowledge basis. Low information voters can definitely be both Republican and Democratic voters, but Democratic outreach to these voters hit new heights in 2008. Typically, these are not highly-likely voters. Targeting these people in both 2008 led to a handsome victory for Obama in 2008. In 2007, the Pew Research Center found that among the voting age public, 31% didnt know that Dick Cheney was Vice-President and 34% couldnt name the Governor of their own state. Roughly 4 in 5 couldnt name the Secretary of Defense, and more than half didnt know that Nancy Pelosi was the Speaker of the House, while only 15% knew who Senate Majority Leader Harry Reid was. Now, not all of these people are voters. But they are the people who would be heavily tapped into in coming elections. Rise of the Low-Info Voter In reality, there have always been low information voters. But the 2008 and 2012 elections saw these segments targeted more than ever before. Through advances in social media, the Obama campaign sought to position Obama as a celebrity as much as a politician. There was very little interest in who Obama was, what positions he held, or what he had accomplished. Instead, the campaign focused mostly on his race and the historic nature of his presidential run and focused on building up his image in the way celebrities are built up. While the Democrats knew they would lock up traditional Democratic voters, they sought out a way to turn out those who were very unlikely to vote: the low-information voters. By giving people a celebrity to vote for -- and turning Obama into Mr. Cool -- many younger voters turned out who otherwise usually would not have. After election day 2008, pollster John Zogby was commissioned to do a poll of Obama voters immediately after they voted. The results were not impressive. While Obama voters overwhelmingly knew frivolous information about Sarah Palin such as the RNCs $150,000 wardrobe expenditures and about her daughters, they knew very little about Obama. By more than 2-1 they attributed an Obama quote about coal and energy prices to McCain, while most were unaware of the comment at all, despite it being a heavily debated topic during the campaign. A second poll by Wilson Research Strategies found similar results. McCain voters were overwhelmingly more likely to have greater general knowledge on most questions, the only questions Obama voters scored high on were frivolous, such as knowing that McCain couldnt say how many houses he owned. Obama voters also outscored McCain voters in the question about which candidate said they could see Russia from my house. (84% of Obama voters chose Palin, althoug h it was a Tina Fey skit on Saturday Night Live. Do Republicans Want the Low Information Voter Pie? In all likelihood, the number of high information voters is relatively low. The number of people who are interested in politics, watch news regularly, and stay updated on current events is likely outweighed by those who do not. These high-information voters tend to be older and more likely to have made up their mind on issues anyway. While many conservatives seem wary of going the celebrity route and trying to win on personality over policy, it almost seems an uphill climb. While the Democrats micro-target every possible sub-section of America, conservatives hope to have a breakthrough through logical discussion of issues. Needless to say, that didnt work out too well for Romney even as exit poll voters on election day said they thought he would be better at fixing things than Obama on most issues. (At the end of the day, they still voted for Obama anyway.) We already saw the change in the 2016 GOP presidential hopefuls. Marco Rubio  showed his willingness to talk about his love of rap music while New Jersey Governor Chris Christie loved hitting the late night talk shows to grow his image. Social media, the entertainment culture, and self-celebritization are likely to become the norm. After all, how else do you reach low-information voters before your opponent does?

Media Influence On American Culture - 1563 Words

There is no doubt that the media has a huge role in American culture. The media is prevalent on every medium, from newspapers, to television, the Internet, and mobile applications. However, the controversial argument of whether American culture is more influenced or more informed by the media still stands. â€Å"American culture† is what I consider to be the social norms, fashion, topics of discussion, current events, and mindsets that are popular within the general American population. The â€Å"media† to me refers to all forms of news and popular culture from sources such as television news sources, online news websites, online blogs, and social media networks - basically any public medium with a large audience (in this case, the American†¦show more content†¦These major companies along with their local news counterparts also have a huge online presence, with their websites and accounts on every popular social media network like Facebook, Twitter, and Instagr am. The study from Croteau and Hoynes mentions that 65% of adults in the US have broadband Internet access at home. This makes the networks more relevant to the younger population, who mainly use the Internet. To reach the older population that prefers reading newspapers, other news companies continue to produce newspapers in addition to their online presence. The media is inescapable due its large and easy availability. Due to this, the media has a huge influence over American culture because everything the media presents is seen by millions of Americans. This makes the media an influencer instead of just an informer, because the media is the main source of how information and news are spread. Everything the media produces and publicizes becomes American culture. Besides the media’s wide availability, another major factor that makes the media a powerful influencer over American culture is the media’s ability to select exactly what is spread to these mass audiences. Specific stories and topics can be publicized over others, and others could just be omitted. Since the media is the main source of information for the majority of the population, the stories, topics, and events that the media features on television, newspapers, and websites are what is directly affecting andShow MoreRelatedMedia Influences On American Culture1723 Words   |  7 PagesMedia Influenced in American Culture Back in the 1920s people had receive news and entertainment through the radio, which then in turn out-shined newspapers and magazines. Now day’s social media sites have become the most popular form to get the news and information. The biggest tool in the media that generates revenue by the millions every day, is advertising. The media has its way of showing us constructive information when it comes to news channels, travel and other educational shows. Kids benefitRead MoreMass Media Influence On American Culture878 Words   |  4 PagesMajor developments in the evolution of Mass Media The new era of technology led to major developments in the evolution of mass media, worldwide. In our society, we originally communicated orally before the Internet and wireless devices existed. Individuals relied on traditional forms of mass media, such as the television, radio, newspapers, and magazines, to attain knowledge of the outside world. Thereafter, the development of new forms mass media evolved, and we were introduced to the InternetRead MoreMedia s Influence On American Culture1256 Words   |  6 PagesMedia includes broadcasting mediums such as newspapers, magazines, TV, radio, billboards, direct mail, telephone, fax, and internet. The Business Dictionary defines media as, â€Å"communication channels through which news, entertainment, education, data, or promotional messages are disseminated† (â€Å"Media.†). With the right instruments, media has had a very sizable impact on American society and culture. Media has grown immensely popular and has remar kably gained influence that it’s altered the way weRead MoreEssay about The Influence of the Media on American Culture 1184 Words   |  5 PagesThe media has been a part of the daily life of the American people for the longest time, because of this fact, the media influences the decisions and views of how people should live. One big part of the media that tends to start to develop a sense of how the day-to-day American should live is Disney. Since kids are the main source of Disney’s billion dollar industry children have become an important dimension of the social theory (Giroux 1999: 65). â€Å"Within this context, television emerges as a consumer-orientedRead More American Media Influence on Global Culture Essay2282 Words   |  10 PagesAmerican Media Influence on Global Culture Pop culture is a term coined by sociologists to define American media influence today. Society is bombarded with themes that define pop culture: progress, material gain, individual freedom and wealth. Media, in particular television commercials, movies, newspapers and radio stations, encourages Americans how to think, what to buy and where to live. According to a study done by graduate students at Harvard, as technology expands and media corporationsRead MoreThe Media s Influence On American Culture By The Dominate Ideology Of White Middle Class Males875 Words   |  4 Pagesin American culture by the dominate ideology of white middle class males. Hegemonic ideology is promoted by online media outlets with femininity communicated as a way to serve the sexual desire of men (pp. 449). The pressure on women to look and behave certain ways is deeply imbedded in our everyday life. I will use two online media stories; the PBS online video, Merchants of Cool, and Yahoo Style as th e basis of this essay. The PBS video, Merchants of Cool is about the merchant and media outletsRead MoreEssay on The Media Effects American Culture1249 Words   |  5 PagesThe media is the means of communication, as radio and television, newspapers, and magazines that reach or influence people widely. The growth of the media has spread vastly over the years. The media is also known as a â€Å"channel of mass communication.† â€Å"Mass Media incorporates all those mediums through which information is distributed to the masses. These include advertisements, magazines, newspapers, radio, television, and the Internet† (Sebastian). The media introduces many new things to the publicRead MoreInfuence of Entertainment Essay961 Words   |  4 PagesInfluence of Entertainment Media Latishia Weldon HUM/186 March 4, 2013 Brandale Mills Influence of Entertainment Media America’s have shaped our culture though entertainment for media proposes for years. Entertainment media is how Americans attract the way of life. The social influences relay on the media entertainment for positive and negative images to help transform the minds of people. The culture of Americans have always been through television, computers, and entertainment. The valuesRead MoreInfluence of Entertainment Media969 Words   |  4 PagesInfluence of Entertainment Media Latishia Weldon HUM/186 March 4, 2013 Brandale Mills Influence of Entertainment Media America’s have shaped our culture though entertainment for media proposes for years. Entertainment media is how Americans attract the way of life. The social influences relay on the media entertainment for positive and negative images to help transform the minds of people. The culture of Americans have always been through television, computers, and entertainment. The valuesRead MoreMass Media Essay720 Words   |  3 Pages Mass Media: Development and Literacy Assignment Emily Lewis Horne University of Phoenix HUM 186 October 30, 2017 The Major Developments of the Mass Media In the textbook, Media and Culture: Mass Communication in a Digital Age, written by Richard Campbell, it talks about wat mass media is and the mass media developments. It said, â€Å"The mass media are the cultural industries—the channels of communication—that produce and distribute songs, novels, TV shows, news- papers, movies, video games

Guide to Hardware 6e Ch 9-7 Questions Free Essays

Class: CET1171 PC Service and Support IInstructor: Mr. Hudson Date: 4/20/2013 Chapter 7 Reviewing the Basics 1. Support, Service, Retail Associate, Bench, and Helpdesk Technician 2. We will write a custom essay sample on Guide to Hardware 6e Ch 9-7 Questions or any similar topic only for you Order Now Bench Technician 3. Patient, Positive/Helpful Attitude, Good Listener, Professional, Dependable 4. Try to resolve over the phone prior to making an appointment, at least address the problem 5. Let them know. Apologize and arrange new date and time 6. Start by stating your name, and then ask them to explain the problem to see if you can assist you. 7. Ask for permission first 8. Put everything back together the way it was and clean up any mess. Then explain to the customer what you did and what was malfunctioning after that verify that everything is working 9. Treat other as you would like to be treated. 10. No 11. Go over the basic questions and re-ask the customer so you can fix the problem. Ask the co-worker 12. Kindly ask them if you could use a local telephone to aid you in getting the repair done 13. Tell then who you are and who you work for. Then ask for their name and how may you help them. 4. Be specific With your instructions 15. Don’t argue with but find something that you can both agree on to ease and comfort the customer. 16. Be organized and know your limits with other fellow co-workers 17. To actually see how you talk over the phone and if you have the right personality traits to be successful as a help desk tech 18. To collect evidence, this includes exactly what, when, and from whom evidence was collected, the condition of this evidence, and how was the secured while it was in your possession. 19. To connect to TV cable boxes 20. To input to the PC using HDMO port, you can use a video capture card that has an HDMI input port. 21. CAD workstation 22. NVIDIA Quadro 23. 6 24. To provide a virtual desktop for users on multiple client machines Thinking Critically 1. A 2. B and C Chapter 8 Reviewing the Basic 1. Hardware 2. Blue Screen of Death 3. One short beep or no beep 4. Power Supply or Filing Hard Drive 5. Administrator Account 6. To keep the board from touching the case 7. Check the BIOS 8. Don’t set a tower case directly on thick carpet because the air vent on the bottom front of the case can be blocked. 9. Purchase plastic keyboard cover in a dirty or extremely dusty environment. 10. Because some batteries can contain silver oxide, mercury, lithium, or cadmium and are considered hazardous waste 11. Return in to the manufacturer or dealer to be recycled. Thinking Critically 1. C and B 2. A 3. C 4. C Chapter 9 1. 48 2. 32 bit, 128bit 3. it transfers information from the client to the server. 4. Private IP address 5. class b 6. class c 7. Public IP addresses are licensed and authorized to use the internet. Private IP addresses are not authorized or licensed to use the internet. A computer with a private IP address uses a proxy server to access the internet. 8. IP addresses that begin with 192. 168 are private IP addresses. 9. Static IP addressing 10. The IP address was automatically assigned by windows when it failed to lease an address from the DHCP server. The computer received an APIPA IP address. 11. The mac address 12. ISATAP, Teredo, 6T04 13. Global address can be routed on the internet. These addresses are similar to IPv4 public IP addresses. Most global addresses begin with the 2000::/3, although other prefixes are being released. The /3 indicates that the first three bits are fixed and are always 001. Link-local address can be used for communicating with node in the same link. These addresses are similar to IPv4 private IP address and most FE80::64 14. 64- bit, 1111 1110 1000 0000 0000 0000 †¦.. 0000 15. Unicast address 16. DHCP server 17. Connection- oriented protocol and UDP 18. The SMTP protocol is used to send email to a recipient’s mail server, and the POP3 or IMAP4 protocol is used by the client to receive. 19. HTTPS 20. IMAP4 21. NAT 22. LDAP 23. SFTP 24. Desktop and Remote Assistance 25. 802. 11n 26. WPA How to cite Guide to Hardware 6e Ch 9-7 Questions, Papers

Ethnocentrism Essay Example For Students

Ethnocentrism Essay The official definition of ethnocentric is characterized or based on the attitude that ones own group is superior or having race as a central interest. There is a whole world of problems, politics, and, other cultures, but it seems that the average Americans only interest is that of themselves. The reason I chose to focus on the American being ethnocentric is because I have been exposed the most to this culture in the past. America is the melting pot of the world with so many different cultures and accepts this variety into our country as we were accepted when our ancestors came over. Today I feel that people are arrogant towards those foreigners who dont wash away their former demeanor. Why dont we realize that we are so lucky to live in a secure and free country that should glorify diversity and not promote prejudice? When we make contact with people whose beliefs and cultural tradition challenge our own perspective most feel some sort of intimidation. Ethnocentrism in my opinion i s very ignorant, unintelligent, and closed minded in that your normal rituals may seem just as strange to other cultures, but are seen by them in a more understanding way. Ethnocentrism has been instilled in us since birth, learning to attach our selves to our cultural groups depending on them for comfort and a sense of safety. People as a whole in a way have to de-center their strong cultural beliefs, as well as the thought that their culture is the only one important enough to concern themselves with. Ethnocentrism may manifest itself in behavior such as warfare, attitudes of superiority, hostility, violence, discrimination, and verbal aggression. In the past, groups such as the Nazis, the Crusaders and, the Muslims have waged wars and death over cultural and religious differences using ethnocentrism as there incentive. Hate groups are also formed on this notion believing that their religious or cultural group is superior to others when in reality their customs are simply differen t. I realize that we are all ethnocentric to varying degrees because we are born into a culture at birth and it seems we cling to that culture for as a long as we live. Ever since 9/11, I believe Americans are starting to change their ways of interacting with one another. On top of this, it is very nice to see that terrorism has made our country, and its people, stronger and more unified as a whole.

Traditional Cost Accounting System †Free Samples to Students

Question: Discuss about the Traditional Cost Accounting System. Answer: Introduction: Managerial accounting reports are important to all businesses. Managerial accounting reports are prepared throughout accounting periods as required as they help managers monitor the businesss performance. A companys management may need to do a report weekly, monthly, quarterly and sometimes daily. The information in managerial accounting reports is very important as they influence the decision-making process to maintain organizational goals and values while at the same time creating value for stakeholders. They facilitate the assessment and management of risk as well as implementing strategies (Sullivan, n.d.). Examples of managerial accounting report include a budget report that enables businesses to analyze each departments performance as well as control costs. Another example is job cost reports that describe the expenses for specific reports. Accounts receivable aging reports is also a type of managerial account report that is critical in managing cash flow especially for busines ses that extend credit to their customers. The control function of management accounting is about monitoring, measuring, evaluating and correcting tangible results in order to make sure that a businesss organizational goals and plans are accomplished. For example, Feedback is one thing that is essential to the control function of management accounting as it is used to evaluate the steps in the implementation of a strategy as well as correct them is necessary. Getting feedback makes it easier for managers to decide whether or not they should let operational activities remain as they are or take corrective measures in order to restore the harmony between them and the companys goals and plans. Previously, businesses used the control function as it is described in the social theory Panopticism, meaning strictly monitoring employees in order to indicate when performance does not meet the requirements in order discipline and punish and punish; these days they use the control in a much more positive and relaxed manner to encourage e mployees to perform more efficiently and not use scare and intimidation tactics. One purpose of product costing is that it helps managers when it comes to making decisions regarding the estimation of marginal costs. For example, in manufacturing companies, of the labor costs do not change over wide ranges of output, then the manager considers the labor costs to be fixed in his decisions regarding various short-term outputs. The next purpose of product costing is that it helps in the estimation of material costs by establishing a reliable bill of materials. Another purpose of product costing is that it facilitates the development of external reports; for instance many students who want to apply to a university program will be presented with a product's costs specifically developed for external reporting; however, these cost do not estimate marginal costs so they can be modified to fit the students preferences. The fourth purpose of product costing is that it facilitates the development of a unit cost for external reporting by estimating labor and overhead costs. That statement is describing the Work-in- Progress journal entry for direct and indirect labor costs. The direct labor costs are put in the Work-in-Process account at the end of every work week while the indirect labor costs are put into the Factory Overhead account. An employee is paid for overtime when he or she has worked extra time other than his or her normal working hours that are set by a federal Act or an agreement with the union. Usually, the overtime is paid at a higher rate than normal; for example, if an employee has worked more than eight hours a day, he or she will be paid double the normal hourly rate for the extra time. Overtime payments can be treated as either direct labor or overhead depending on the circumstances and over time regulation in a company. Overtime payments are treated as direct labor when the extra hours will be paid at a normal rate and is charged to production with the same stipulations as time working during normal hours; also, when the extra time is due to carrying out specific rush instructions or specific tasks to respect a schedule. However, it is treated as overhead when the payment wont be directly charged against production but is recovered as production overhead using overhead recovery rate as well when the overtime is the result of delay or negligence on the part of a member of a specific department. The traditional costing systems involved allocating manufacturing overhead cost to the products that were manufactured. These systems assign the companys indirect costs to the products that were manufactured based on volume (number of units manufactured) and the production machine hours or the direct labor units (Manalo, 2004). By using these, the traditional costing systems are implying that if it were not for a number of units produced and the machine or human labor used in the production, the company would not have overhead costs. In the past this would have been enough and reasonable for an organizations external financial statements; however, in recent years, overhead have been caused by different factors that the traditional systems did not feature such as consumer manufacturing preferences involving diverse and uniform products. Merits and demerits of the activity based costing (ABC) The traditional costing systems have a lot of short comings when it comes to establishing the true cost of producing products per specific customer preferences, and this is the reason why the activity based costing (ABC) has risen to popularity. The activity based costing (ABC) solve the inadequacies of the traditional costing system by featuring other cost drivers other than the number of units produced and machine hours or the direct labor units to establish indirect costs which increase accuracy and reliability (Wilkinson, 2013). Another merit is that the activity based costing (ABC) provides the real information regarding cost behavior, helps minimize costs as well as identify the activities that did not add any value to the product. All of these benefits make the decision-making process much more efficient and reduce errors such as over or underestimations. One of the ABC system's demerits is that is too expensive and complex to implement and manage which makes some businesses owners stick to the traditional product costing systems (Quinn, Elafi, Mulgrew, 2017). Other demerits of the ABC system are difficulties selecting cost drivers due to the complexity of the system as well as unsuitability with smaller businesses. References: Manalo, M., V. (2004). Activity based costing (ABC) vs. traditional cost accounting system among Top 500 corporations in the Philippines. Retrieved from https://www.dlsu.edu.ph/research/centers/cberd/pdf/papers/Working%20Paper%20Series%202004-11.pdf Quinn, M., Elafi, O., Mulgrew, M. (2017). Reasons for not changing to activity-based costing: a survey of Irish firms. PSU Research Review, (1) 1, pp.63-70. Wilkinson, J. (2013). Activity-based Costing (ABC) vs Traditional Costing. Retrieved from https://strategiccfo.com/activity-based-costing-abc-vs-traditional-costing/