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Economics/ATM machines installation inside Shipping ports.


Dear Prof Raza

Is it feasible and secure for ATM machines installation inside Shipping ports?.


Hi Prashant,

Thank you for posing the question.

I think installation of ATM machines inside shipping ports is as secure as installing these in shopping malls or anywhere else.Security depends on maintenance of password and other security features, and these are as valid inside shipping ports as anywhere else.

However, if authorities guarding the machines pry into customers' accounts within the ports, there could be some problem, but that problem is almost nonexistent if those involved in transactions do not unwittingly disclose their confidentiality and secret data. Only if some cash belong to the shipping ports and this is dealt with by the shipping personnel who might be dishonest, then there certainly would be problem. They can make dishonest deals with outsiders, giving them information which should not be given. You may know that recently in Bangladesh huge amounts to the tune of millions of dollars were siphoned off from Bangladesh Bank to foreign countries, and that happened because employees of Bangladesh Bank (the central bank) connived with the hackers. Otherwise it would probably not have occurred.

Quite the same, if the port authorities, anywhere, do abet the hackers, safety may vanish. But, take it, this is not the fault  of installing the machines in ports; this is the problem of insider dishonesty. Of course, sometimes there may be theft of confidential information, and some individuals may be defrauded, and in this case normally the customers are safer, with compensation possible.

Now come to your second part of the question: Whether installation of ATM machines inside shipping ports is feasible? This a question of practicability. Feasibility has nothing to do with security. Now the point is, is that feasible? This question has no straight answer. It depends. When the port is adjacent to a large city, and when not only cargo but also passenger ships are anchored in large numbers, installation of ATM machines is quite feasible. Otherwise, if the port is involved mainly in transshipment of cargo, ATM machines may be very little needed, and such installation may not be feasible. The reason is, maintaining ATM machines require proper surveillance and regular and constant guarding of the machines physically, and  that involves quite a big amount of cost. If the amount of use does not guarantee the need for sufficient transactions, then installation of ATM machines in the shipping ports --and even elsewhere --is not feasible.

I hope, Prashant, this satisfies your query. If you have further questions, please do not hesitate to write to me, and I shall try to attend to your query. I wish you best of luck in your research.


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Eklimur Raza


It appears some students in this website are confused about elasticity of demand and the slope of the demand curve when they are trying to figure out why rectangular hyperbola comes up in case of unitary demand curve. First, they don't know that RH can be depicted in a positive quadrant of price,quantity plane. Secondly, they make the mistake that the slope of RH is constant at -1. Two points could help them: first, e=1 at each and every point of the RH, because the tangent at any point shows lower segment=upper segment (another geometric definition of e); yet slopes at different points,dQ/dP, are different; second, e is not slope but [(Slope)(P/Q)]in absolute terms. Caveat: only if we measure (log P) along the horizontal axis and (log Q) up the vertical axis, can we then say slope equals elasticity --in which case RH on P,Q plane is transformed into a straight-line demand curve [with slope= -tan 45 deg] on (log Q),(logP) plane, and e= -d(log Q)/d(log P). [By the way, logs are not used in college textbooks --although that is helpful in econometric estimation of elasticity viewed as an exponent of P, when demand equation is transformed into log-linear form.] I have not found the geometrical explanation I have given in any textbook followed in undergraduate and college classes in Canada (including the book followed in a university where I taught for a short time and in the book followed in George Brown College, Toronto, where I teach.


About 11 years' teaching economics and business studies, and also English, history and elementary French.Practical experience in a development bank, working with international donor agencies like the World Bank and the ADB. Experience in free-lance journalism, including Canada's "National Post."

I teach micro- and macroeconomics at George Brown College (continuing education), Toronto, ON, Canada.

Many articles and editorials, on different subjects, in English newspapers. Recently an applied Major Research Paper, based on a synthesis of the Solow growth model and the Lewis two-sector model, has be accepted by Ryerson University, Toronto. Professors Thomas Barbiero and Eric Cam, Ryerson University, accepted the paper.

Master degree in Interantional Economics and Finance and diploma with honours in Business Administration from Canada.

Awards and Honors
Received First Prize in an inter-university Literary Contest.

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