The nature of absolute truth Essay Example | Topics and Well Written Essays - 500 words

The nature of absolute truth - Essay Example The paper tells that an absolute truth is something that happens to be a universal truth. However, the thing that needs to be understood is that before proceeding to delve into the practical nature of absolute truth the thing that needs to be understood is that humans arrive at an absolute truth through two aspects: The input that the humans gather from the outside world through their sensory organs like eyes, ears, skin, etc. The processing of these inputs in the human brain by correlating it to the past experiences. It does need to be understood that within the realm of metaphysics, absolute truth is open to argumentative challenges. However, defining and explaining absolute truth is much easier and readily feasible within the realm of the physical. For instance, consider a person who has a pet cat at one’s home. The fact that this person has a pet cat in his home is an absolute truth. People may differ with regards to the subjective endowments ascribed to that cat. For instance, say somebody says that this individual has the most beautiful cat in the world as his pet. Many people may disagree that this cat is the most beautiful cat in the world. Some may say that the cat is indeed very beautiful. Some may agree to the contrary that the cat is indeed ugly and repulsive. However, no one will disagree with the fact that this person has got a pet in his house that is definitely a cat. Thereby the fact that this pet is a cat is an absolute truth. If somebody says that this pet is a dog. It is not true. If somebody says that this pet is a tiger.

International Economic Relations Essay Example | Topics and Well Written Essays - 1500 words - 1

International Economic Relations - Essay Example Economies of scale results from external activities undertaken by the firm. The traditional way of doing this is to assume that increasing returns are wholly external to the firm. That is, all economies of scale realized by the firm results from activities in which the firms have no control over (Murthy 25). This means that activities undertaken by the firm do not contribute to any savings on large-scale operations. External economies are too vague and unmeasurable to qualify as an explanation of patterns of trade. Given the economies of scale, each country undertakes to produce only a limited number of products in each industry that is under operation. This pattern of operation is termed as intraindustrial specialization, where each country produces what is essential for offer on other markets (Murthy 46). This makes the implications for the trade pattern straightforward, meaning that each and every nation will be a net exporter in industries in which it possesses a comparative advantage. That is, it will specialize in producing those goods that it can cheaply produce and export or sell them to countries that have limited resources to produce similar goods. This enables the country to realize gains from exporting those goods and thus increases its revenue and overall profitability. Due to intraindustry specialization, each country is capable of importing some products even in some industries in which it is a net exporter. Similarly, a country is capable of exporting some products even in some industries in which it is a net importer. This implies that there will be a presence of both intraindustry as well as interindustry trade, thus enabling the given country to reap both the benefits of comparative advantage and economies of scale (Murthy 55). This article widely explains the intra-industry theory as it allows a country to reap benefits from both exports and imports by partly engaging in