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Money and its Major Functions

Money and its Major Functions

Money and its major functions Definition

Money is anything that is used as a standard medium of exchange for goods, service and the payment of debts. The Money and its major functions People do transaction of goods and services through money. For example, if a one teaches in the school, he will get a payment at the end of the month in exchange his service in the form of money.
Economists say that money is just a medium of exchange. The founder of classical economics Adam Smith says that “Money is like a road which helps in transporting the goods and services produced in a country to the market, but this road does not itself produce anything”.

Functions of Money

There are three major functions of money:

1. Medium of exchange

Money is a standard medium in any country or any part of the world for exchanging goods and services. For example, if a man grows wheat and wants to buy potatoes which his neighbor grows, he will have to exchange some wheat with some potatoes. people call it barter system. In this system, it is difficult to set the terms of value of exchanged things. For example, it will be difficult for a man to negotiate the amount of wheat he will give to get a certain amount of potatoes.

Since the survival of man depended on buying and selling of goods to fulfil his needs, he invented money. Money is widely and uniformly accepted mode for buying and selling goods unlike barter system.

Today, if one wants to buy a kilogram of potatoes, first he will sell some of his wheat. Let’s say, he sells it for Rs 100 per kg and buys 1 kg potatoes in Rs 50. The state usually fixes the rate of market prices of goods in a country.

1. Unit of account

Money is a common standard for measuring the relative worth of goods and services. As discussed above, in barter system it is difficult to establish a common and widely accepted standard of measuring relative worth of goods and services. For example, it is difficult to measure the worth of exchanging 1 meters of cloth with few litres of milk. A man selling the cloth and the one selling milk can disagree on the rate and the amount of goods they are ready to exchange.

To solve these day to day complex issues man invented money w It serves as a fixed unit of account for measuring the relative worth of goods. One knows that in Pakistan, a litre of milk will be sold at the rate ranging between 100 – 150- Rupees or 1 kilogram of potatoes will be sold at the rate in between of 50-70 Rupees. This has solved the problem of measuring the relative worth of goods.

2. Liquid store of value

Money is a liquid asset. By this, one means that we can store money for a long period of time. Its value will remain the same. That is the reason that people store wealth in banks and even in the form of cash (note money). They use it in when the need arises.

Unlike money, one cannot store any commodity for long. For example in barter system, one cannot store wheat or fruits for years. The fruits will rot in just few days. Similarly one can save wheat for a year and a half at max. And there will also be chances of pantry pests affecting wheat’s quality. On the contrary, people can store money for years and years and can use it when the need arises. Besides, one can also save money in the form of durable goods or assets like gold/ silver/ diamond and land. These are the assets one can utilize in times of need by selling them and getting a certain amount of money according to their worth.

Biochemical Engineering

Biochemical Engineering History Universities

Biochemical Engineering

Biochemical engineering is an interdisciplinary field. It is an integration of the disciplines of chemical and biological engr and is also known as bio-process engineering. This field involves the setup of unit processes to work on designing, producing. And manufacturing biofeuls, food products, pharmaceuticals, biotechnology and water treatment. Bio chemical engineers practically apply the findings of the researches. So from the field of biology, chemistry and engineering for manufacturing.

History of Biochemical Engineering

Humans have been practically making use of chemical reactions of biological organisms to make products. In 1800 Louis Pasteur was the first scientist to work on chemical changes within organisms and the changes organisms bring in other natural materials when he researched on fermentation and pasteurization.

The field of biochemical engineering was established when Alexander Fleming discovered penicillin. At that time the scientists started working on microbes collected from soils, streams, rivers, forests and gardens all over the globe etc. It is the need of today’s age to utilize the knowledge of chemical reactions and biological systems to meet diverse and ever-changing human needs. Industries ranging from food to pharmaceuticals widely apply biochemical researches.

Universities offering Biochemical engineering course

Some renowned universities of the world offer courses in biochemical engr. These universities include Brown University, University of Georgia, and University of southern California, University of Colorado, University College London, All India Institute of Medical Sciences, IIT Delhi Mahatama Gandhi University, Queens University and University of Ottawa etc.

Important areas of study under bio Chemical engineering:

Hence the areas of study under biochemical engineering are biochemistry, biophysics, bio process, bio process technology, organic chemistry, microbiology, molecular biology and genetics, polymer technology, environmental biotechnology, environmental studies,  entrepreneurship, fertilizer technology, immunology, metabolic regulation and engineering, bio-entrepreneurship, enzyme engineering and technology and Chemical Engineering thermodynamic etc.

Application of bio Chemical engineering

Biochemical engineers apply this discipline in pharmaceuticals, mining, petrochemical engineering sector, textile, plastic and polymer and paper manufacturing 

Biochemical engineering studies that how raw materials interact with each other in different environments. It also studies the the development of processes for making new compounds from these materials. It examines the determination of optimal conditions for growth of biological substances, viruses and cells etc and inhibitors that can stop or kill. Biochemical engineering also studies how raw materials interact with each other in different environments.

They then develop processes for building new compounds from these materials. Biochemicals engineering helps in all stages of processing of products. Biochemical engineers also work with researchers from variety of disciplines for the invention and development of new things. Research and production of  biofuels, alcohol, steroids, enzymes, bio-fertilizers or bio catalysts that are used for chemotherapy or in the food processing industry, and fermentation processes all fall under the discipline of biochemical engineering. Biochemical engineers also work in then field of medicine and rehabilitation etc. In medical field biochemical engineering involves work on cells and tissues such as fabrication of human tissues for terminating diseases etc

Conclusion

The field of biochemical engr is continuously developing. In the coming years it will further expand with ever new developments for the evolution, modernization and ease of man.

Agricultural Engineering

Agricultural Engineering Introduction Job market

Agricultural Engineering Introduction

Agricultural engineering is a discipline of engineering studies which deals with agricultural production and processing. It is an integrated field in which the main principles of agriculture production are applied with the latest technologies falling under the umbrella of chemical, mechanical, electrical and civil engineering. The main objective of this integrated discipline is to enhance the sustainability of agriculture sector, to increase agricultural output by mechanising the methodologies of agricultural processing. Agriculture engineering deals with the design, improvement and manufacturing of agriculture machinery to increase, sustain and improve the quality of agricultural output. So This involves implementation of better irrigation, crop management and harvesting methodologies for quality and increased per acre yield. This field also involves the planning of farm structure including better drainage, sustained water supply for irrigation and rural electrification. Research and Development (R&D) for continuous improvements is the bedrock of this discipline.

Brief History

The first curriculum on agricultural engineering was designed by Professor J.B Davidson in 1903 at Lowa State University in the Unites States. Subsequently, the American Society of Agriculture and Biological Engineers previously known as American Society of Agriculture Engineers was founded in 1907.

Agriculture Engineers

Education: In Pakistan students who aim to pursue agriculture engineering as a profession require to opt science subjects in high school and pre-engineering group in intermediate. After that, four year bachelor in Agricultural Engineering from a university recognized by Pakistan Engineering Council allows the students to enter this field.
Work
Every year hundreds of graduates in agricultural engineering enter the market. But The set of tasks these engineers may engage in are designing agricultural machinery, equipment and agriculture structures, agriculture resource management, research and development in this discipline, working as academicians in relevant institutes , developing water management and storage methods for livestock and better irrigation, surveying and land profiling, managing the fertility of the soil to prevent and control erosion, seeding, tillage, harvesting and processing of crops, sustainable production of livestock( poultry, fish and dairy animals), waste management( animal, agriculture and fertilizer runoff), food and bio resource engineering etc.

Institutes of Agriculture Engineering

Therefore Major institutes of agriculture engineering in Pakistan are:
1. University of Agriculture, Faisalabad
2. Sindh Agriculture University, Tandoja
3. University of Engineering and Technology, Peshawar
4. Pir Mehar Ali Shah Arid Agriculture University, Rawalpindi
Fewer institutes are offering degree in the discipline of agriculture engineering as compared to its increasing scope worldwide and its untapped market in Pakistan.

Job market for agriculture engineering

Job market for agriculture engineering in Pakistan include employment in the field of agricultural products. And machinery manufacturing by various companies, engineering, production, fertilizer, crop breeder/ geneticist, animal breeder/ nutritionist and, soil industry etc. Besides, there are several other avenues for agriculture engineers’ i.e.to start as entrepreneurs in any sector of agricultural engineering considering the rich soil. So large population and huge potential of Pakistan as an agrarian economy.

Conclusion

In Pakistan there is a huge market of agricultural engineering considering the wide agriculture base of the country. In case of the initiative by the government to tap the market of agriculture engineering will be a great step. For not only multiplying agriculture production but also. To increase its contribution in the sector from 18.9% of the Gross Domestic Product (GDP) to at least. Hence a decade old previous percentage of 24 % of GDP. It will also help eliminate food insecurity of 208 million populations and, poverty of farming community. And will also provide jobs to thousands of jobless engineers individuals related to this field.

Vitamin D Introduction

Vitamin D Introduction Function Sources

Vitamin D Introduction Function Sources

Vitamin D Introduction
The Vitamin D Introduction falls under the category of fat soluble vitamins. Its scientific name is cholecalciferol. Vitamin-D is an extremely important mineral which affects multiple systems of our body. It acts like a hormone in the body and every cell of human body is a receptor to it

Function of Vitamin D

So It is responsible for promoting the absorption of calcium, magnesium and phosphate from the intestines and is also responsible for other biological effects. It enables the body to use these compounds in the formation and strengthening of teeth and bones.

Sources of vitamin D

Only few foods are rich in vitamin D. Its major source is sunlight. Ultraviolet rays in sunlight can convert a natural substance (ergo sterol) in the skin to Vitamin D. If one is exposed to enough sunlight, it is not needed in the diet. One needs to keep in mind that Vitamin D is relatively resistant to heat and oxidation.
Vitamin D is found in fish liver oils (e.g. cod and halibut), egg yolk, milk and other dairy products.

Risk factors of vitamin deficiency

Multiple risk factors that might lead to its deficiency are less exposure to sunlight. That is why it is advise to get reasonable exposure to sunlight by the physicians. Old age people are more vulnerable to its deficiency. Moreover, having dark complexion increases the chances of vitamin-D deficiency. Obesity and sedentary lifestyle also makes one vulnerable to insufficient vitamin-D in the body. Lack of fish and dairy products in diet and living far from the equator where there is less sunlight are the major risk factors which might lead to vitamin-D deficiency.

Deficiency of Vitamin-D

It is said that around 1 billion people suffer to some extent by the deficiency of vitamin D. Usually people who live in hot and humid areas especially near the equator are less likely to suffer from its deficiency than those living in cold lands. The early signs and symptoms of vitamin-D deficiency are generally subtle and therefore, are difficult to recognize.
In Children: Even slight deficiency of vitamin-D in children leads to a deformation of teeth and tooth decay, whereas, it’s extreme deficiency leads to a condition call rickets. It is characterize by the poor teeth and bone formation. Usually bones become soft and pliant and therefore, can be easily bent under the body weight. Its deficiency also leads to other deformities such as bowed legs and knock knees.
In Adults: Extreme deficiency in adults leads to Osteomalacia which is also characterize by softening of bones.

Excess of vitamin D

Excessive vitamin-D in the body leads to demoralization of bones and calcification of multiple soft tissues including kidneys and lungs.
In case of any packed Vitamin-D containing food supplement must check orginal seal before buying. Now a days many cheeters selling expired food supplements so need to care. And if using for minor babies then also check proper and then start using.