A report on the Association of Chartered certified Accountants

The Association of Chartered certified Accountants is a accepted British statutory accounting organic structure responsible in making certified comptrollers worldwide. It is one among the fastest turning accounting organic structures with about 140000 members and 404000 affiliates every bit good as pupils from 170 states. This information is harmonizing to the March 2010 statistics. The caput office is situated in London and the administrative office in Glasgow. Furthermore the institute has a broad web affecting 80 staff offices around the universe. the institute is the laminitis organic structure of the Consultative commission of accounting organic structures and the International federation of comptrollers The term Chartered in the making given by the institute was granted by the Queen in the twelvemonth 1974. Persons who wish to be called certified public comptrollers should keep the grade given by the institute. Furthermore they should follow to and ordinances framed by the inst itute. The Association of authorised public comptrollers is one of the subordinates of the ACCA ( ACCA- The planetary organic structure of professional comptrollers. 2010 ) . The Certified public comptrollers or CPA is the certified organic structure of public comptrollers in the US. In US merely persons holding qualified CPA grade is authorized to certify and scrutinize fiscal statements. How of all time many provinces in the US have a lower grade of comptrollers that are below the normal CPA. The public comptrollers in the US belong to the national society of public comptrollers. As per the jurisprudence prevailing, other individuals who are non CPA ‘s are prohibited from utilizing the appellation of a public comptroller. The chief maps of CPA ‘s includes confidence services, fiscal consultancy services etc. they are besides an of import individual in the income revenue enhancement country ( American institute of CPA ‘s. 2010 ) . In Australia, it is the Institute of hired comptrollers of Australia which performs all the statutory maps of an accounting organic structure. It has more than 50000 members and over 12000 pupils worldwide. The institute is besides the laminitis of the Global accounting confederation. The institute was formed as per the royal charter in 1928 ( Chartered Accountants, The spirit of being figure one. 2010 ) . Breach of misdemeanor instances: The institutes of hired comptrollers across the Earth have stricter regulations for its members for maintaining subject. The institutes expect each and every member to follow these regulations and stick on to professional moralss without any via medias. In malice of these stricter regulations, there have been misdemeanors by its members besides. One major instance of misdemeanor is that of Mr. Stephen Charles Peck, FCA, who is a hired comptroller in Britain. The member was found guilty of conveying disrepute to the institute and profession. He was apt under disciplinary action under the byelaw ( 4 ) ( 1 ) . ( a ) .On July 24th 2008, the Grantham Magistrates tribunal convicted Mr.Peck on the charges that he obtained fiscal aid under the rural endeavor ordinances 2000, on the footing of a false and deceptive statement. After many hearings, it was found that Mr. Peck was guilty in making such an act which polluted his profession. However the tribunal admitted that there were no existent purposeful efforts by the individual to make such Acts of the Apostless, he did that as a consequence of condemnable foolhardiness every bit good as irresponsibleness. Mr Peck was imposed a conditional discharge of 12 months and was besides ordered to pay costs amounting to 10437 lbs. Mr batch was badly reprimanded under the misdemeanor of bylaw ( 4 ) ( 1 ) ( a ) .he was asked to pay a mulct of 2000 lbs and costs amounting to 2300 lbs.Under the Torahs of the British chartered comptrollers institute, if a individual is found to hold committed an act or a default that is likely to convey disrepute on the institute and profession every bit good as if there is breach of ordinances, such individual is apt for penalty. He may be suspended and his pattern certification may be withdrawn ( Disciplinary orders and regulative deciscions.2009 ) ..Breachs of codification of behavior have been reported from US besides. In another dramatic instance, a CPA from Greenwich was barred from carry onin g his professional responsibilities and his certification was withdrawn by the Connecticut province board of Accountancy. This was because the CPA withheld the client ‘s revenue enhancement records. The CPA who committed this offense was John.P. Vancho. He was ordered to give up his certification and to pay 1000 dollars as punishment. It is interesting to observe that AICPA has disciplined 327 instances of breach of behavior by its members during the clip period of 1998- 2008. Out of this bulk of instances are involved with registering false returns with income revenue enhancement section. All these misdemeanors invite rigorous punishments as in the instance of JohnVancho ( Dan.2004 ) . In Australia, the ICAA ( institute of hired comptrollers in Australia ) and the CPA ( certified practising comptrollers ) are the of import organic structures which frame the codification of behavior. They have stricter regulations and ordinances that govern the accounting field of that state. Non conformity with the codification invites disciplinary proceedings including remotion of licenses every bit good as payment of compensation to the client. In a deceitful pattern, an comptroller in a reputed concern house was found guilty of cabaling with others by assisting them to hedge 27.78 million Australian dollars during 1999 and 2006. The accountant Mr. Thomson used false paperss intentionally to conceal existent net incomes generated by his clients through this action, he ensured that his clients need non pay the needed revenue enhancements to the Australian authorities. Harmonizing to the regulations and guidelines framed by the Australian institute of certified comptrollers, those comptrollers who indulge in such unethical patterns are apt for probe and prosecution under the jurisprudence. The comptroller was arrested by the Australian constabulary and revenue enhancement governments ( Accountant jailed over portion in fraud. 2008 ) ..The Australian institute of hired comptrollers is a rigorous legal organic structure which takes all necessary stairss to guarantee that the highest professional ethical criterions are maintained by its members. For implementing this, rigorous legal commissariats are applied by the institute on its members. Those who fail to follow with these criterions will be forced to confront disciplinary actions that may change harmonizing to the grade of misdemeanor committed. The institute is non a regulator or tribunal but has a major function in puting high criterions for its members. The Australian institute ‘s disciplinary procedure is just, strict every bit good as independent. Breachs of behavior are capable to independent hea ring by the professional behavior court. The non-satisfied member besides has the chance to near the appeal court. The results of the court are printed in the institute ‘s magazines and its on-line versions. Different types of countenances that the court is authorized to enforce are cancellation of rank up to a period of five old ages, backdown of the right to public pattern, infliction of mulcts up to 100000. And other countenances such a remedial preparation and extra quality reappraisal of the members pattern. In the above instance, the comptroller was reprimanded by the institute and he was made apt. The liability was in the nature of condemnable liability. Furthermore the institute temporarily cancelled the comptroller ‘s rank besides ( Annual study on professional behavior. 2007 ) . Another predominant accounting establishment in the planetary accounting scenario is the Institute of hired comptrollers of India. The institute was established in the twelvemonth 1949 under the hired accountant act of 1949. It is a statutory organic structure for the ordinance of hired comptrollers in India. It is now the 2nd largest accounting organic structure in the whole universe. Its part ranges from instruction, professional development every bit good as care of high ethical, scrutinizing and accounting criterions. The institute imposes rigorous disciplinary action on its members for non-compliance of its regulations and ordinances. For this intent it has formulated a disciplinary commission which is specially entrusted to look into such instances. For those members who were found guilty, regulations and punishments under subdivision 21 of the hired comptrollers act would be applied. These individuals will be for good disqualified from service harmonizing to order of the high tribunal connected in this respect. The penalty may change harmonizing to the nature of misconduct. It can be a rebuke, impermanent suspension of rank or lasting remotion along with infliction of mulct. In a dramatic instance of misconduct by a practicing chartered comptroller in Pune, Mr. R.D. Pawar, who was found guilty of serious misconduct, the institute applied the subdivision 21 and the hired comptroller was removed for good from the members list. Another member, Mr. L.N.Mittal was removed for 1 twelvemonth for his disciplinary misdemeanors by the institute. He was found guilty of assisting a client in hedging revenue enhancement. The hired comptroller was located in Gujarat. The institute was once more in the intelligence late when a immense corporate cozenage affecting transnational company Satyam computing machines was surfaced. The histories of Satyam computing machines were forged with the aid of their hearers M.S Price H2O Coopers. The cozenage was brought into visible r adiation and the company and their hearer ‘s were found guilty for the misconduct. The institute banned Price H2O Coopers from practising anyplace in India ( List of instances as on 5th May, 2010. 2010 ) . All the planetary accounting organic structures have framed rigorous regulations to cover with disciplinary misdemeanors by its members. Although the regulations and punishments are similar between all these organic structures, there are fluctuations in the strength and processs of convicting among these organic structures. For ACCA and CPA, there is a rigorous codification of behavior. The institute of certified comptrollers in Australia have gone farther by adding the clause of civil and condemnable liability apart from the normal punishments imposed by the institute. As far the Institute of hired comptrollers of India is concerned, it has one of the lengthiest Acts of the Apostless, i.e. the hired accounting act for disposal. Breaches of professional behavior are scanned by the disciplinary commission before the finding of fact is given. The common regulations followed by all these accounting organic structures include lasting remotion from the members list, impermanent suspension , censuring, remedial preparation etc. It is rather clear that all the accounting organic structures are seeking hard for bettering the services and professional behavior worldwide. For their better and enhanced public presentation, the undermentioned suggestions are deserving observing. They are reconstructing unity for all professional comptrollers ; this includes keeping downrightness and truthfulness, and maintaining good concern relationships with clients. It is besides indispensable to keep objectiveness because it creates an duty on all the professional comptrollers ne'er to compromise their judgement on the footing of prejudice, struggle, involvements etc. All professional comptrollers should hold professional competency and due attention. This is really much of import for keeping the professional cognition every bit good as accomplishment at the coveted degrees. Furthermore based on this cognition, the clients and employees should have expert and efficient service. When professional services are provided, it is besides of import to move diligently in conformity with the proficient and professional service. The professional comptrollers should be to the full cognizant of the recent concern developments and proficient alterations taking topographic point across the Earth. They could execute aptly merely if they have the up-to-date cognition. The institutes should besides take necessary stairss to guarantee that the professional comptroller receives proper developing so as to enable himself to present expert and satisfying services. It besides of import to do consciousness among the clients that there are built-in restrictions to the services given by the comptroller. Another of import facet that has to be earnestly considered is the construct of confidentiality. This rule refrains the comptroller from unwraping confidential information outside the house. He should keep secrecy even under societal conditions. The demand of keeping confidentiality should go on even after the dealingss ends with the client. Even when the comptroller changes his profession, the confidentiality should be restored. He can nevertheless unwrap information if the jurisprudence permits him to make so and if the permission is given by the client. Last but non the least, the professional comptrollers should be imposed a codification of professional behaviour to be followed on. This would enable them to follow with different Torahs and processs and avoid any action that would truly discredit their profession ( Professional functions and responsibilitiesof different professional groups 2006 ) .. Decision: Professional organic structures like ACCA, CPA, AICA, ICAI etc have become planetary accounting organic structures. With the growing of the concern environment, the demand for effectual and true accounting merchandises and services is on the big. Furthermore the growings of concern have besides resulted in addition of unethical patterns of profiteering. Men and concern are governed by greed entirely now. To get the better of this inauspicious state of affairs and protect the involvements of investors, authorities and the common adult male universe broad, it is of import to hold a nice jurisprudence and ordinance coupled with lucidity and honestness. All these institutes can fall in together and achieve these aims.

What is Cryptography?

Technology has developed throughout the years, which has been shown by changes in different aspects of how people live their daily lives. One example could be the means of transportation which started from horses during early times to carriages, invention of automobiles, aircrafts, submarines and many more which we use at present. Through centuries, sending of messages has also evolved from messenger mail to electronic mail via the World Wide Web. Along with these are rising security threats to senders and receivers of those messages who fear that their mail would be opened by someone else.It is and has been the same problem ever since. How can these security threats and privacy invasions be avoided then? The main topic of this research is the importance of a science that helps everyone. It could be in terms of technology to the benefit of computer enthusiasts and industrialists, or simply for protection of the privacy of each citizen. The following pages would give the readers a bri ef introduction of the subject at hand, Cryptography. Along with its definition, history, forms and uses, readers would also be able to learn how important this science is and why each person should use it in their daily communication.According to the Merriam-Webster online dictionary, Cryptography is the enciphering and deciphering of messages in secret code or cipher, the computerized encoding and decoding of information. It is also known as secret writing. Derived from the Greek words kryptos, which means hidden and the grafo, meaning write, is the transformation of data into a secure message, so that unintended recepients would not be able to understand or use them. (Wikibooks, Inc. , 2007).Cryptography is used to hide information by means of encryption, therefore making data unreadable to those who don’t have the secret key that can decipher or decrypt the message into an understandable one. Encryption is done when information is transformed into something which others m ight see as useless. This is called ciphertext. The act of transforming the said information into an understandable format with the use of a cipher or secret key is called decryption. (Wikibooks, 2007) The use of cryptography is seen today through its many uses.These include the security of ATM cards, electronic commerce and computer passwords. These are used for access control and confidentiality of secure information. (Cryptography, 2007) Such techniques like microdots and combining words with images are used by cryptographers to hide information from unintended recepients. (Pawliw, 2006) The earliest known use of cryptography is Classical Cryptography. It shows that it has been thousands of years since cryptography was first done. History has stated that the first proof of the use of cryptography dates back to 2000 BC.It has been related with the Egyptians’ practice of hieroglyphics which consisted of complicated pictograms seen carved into monuments of Ancient Egypt. Thes e pictograms were hard to interpret and only a chosen few knew what their real meanings were. Some time within 500 and 600 BC, Hebrew scholars made use of simple substitution ciphers like the Atbash Cipher in order to solve these encrypted messages. According to Wikibooks, the first known use of a modern cipher was by Julius Caesar (100 BC to 44 BC):â€Å"†¦who did not trust his messengers when communicating with his governors and officers. For this reason, he created a system in which each character in his messages was replaced by a character three positions ahead of it in the Roman alphabet. † (Wikibooks, 2007) By the time of World War II, there has become a great use of mechanical and electromechanical cryptographic cipher machines, but the usage of these was very impractical. During this time, there were various developments in both mathematical and practical cryptography.When the period of modern cryptography began, Claude Shannon, father of mathematical cryptograph y, published the paper Communication Theory of Secrecy Systems in the Bell System Technical Journal in 1949. Shortly after that, along with Warren Weaver, he published the book Mathematical Theory of Communication as well. Because of those publications, a solid theoretical basis for cryptography and for cryptanalysis was established, which made cryptography known only by secret government communications organizations such as the NSA.It was only in 1969 that the public again saw developments in the field of cryptography: â€Å"First was the DES (Data Encryption Standard) submitted by IBM†¦ in an effort to develop secure electronic communication facilities for businesses such as banks and other large financial organizations†¦ it was adopted and published as a FIPS Publication (Federal Information Processing Standard) in 1977†¦has been made effectively obsolete by the adoption in 2001 of the Advanced Encryption Standard†¦DES was the first publicly accessible cypher algorithm to be ‘blessed' by a national crypto agency such as NSA.The release of its design details by NBS stimulated an explosion of public and academic interest in cryptography. † (Wikibooks, 2006) Here are the important terms related to Cryptography in detail; Encryption is the act of hiding information using cryptography. Processed information in this manner is said to be encrypted. Decryption is the process of translating encrypted information. The Key is like a password used to encrypt and decrypt information. A transmission channel used to transmit information in secrecy is called a Secure Line, while a Public Line is the opposite.An example of which are public pay phones and the Internet. (Wooledge , 2000) There are several types of Cryptography being used today. In order to further explain the types of Cryptography, Wooledge compared the Key to a key to a door. First among these is the Symmetric Cipher, which can sometimes be called a symmetric key. Most of the time, it is used for simple types of cryptography because a same key is used to encrypt and decrypt the secret message.â€Å"Everybody who should have access to the room is given a copy of the key†¦put new information in, take old information out†¦if you send somebody a copy of the key by way of the Post Office, somebody working at the Post Office could intercept this key†¦allow them to access this same locked room, and do the same things with it†¦letting them read everything you locked up with that key, even letting them modify it. â€Å"(Wooledge , 2000) The Public Key Cryptography is more complex because in this type of cryptography there are two keys used and together, they are called a key pair.The key used to encrypt is called the public key, which can be given to anyone in order to send information to the owner of the private key, which will be used to decrypt information sent to him. The most common example of this is the use of electronic mail over th e internet, also known as email. The public key is an email address which one gives out to his friends. This allows them to send information to the holder of the secret key, the owner of the email address, the only one who has the password to open and translate the information sent to him or her.(Wooledge , 2000) A One Time Pad is used to send high security messages such as national secrets and is considered the only perfect encryption in the world. In this type of encryption, both the sender and receiver has a copy of the pad to be used as a symmetric key to hide and unhide a message sent over a secure line and destroys them after it has been used. A good example of this is the one seen in Mission Impossible movies, wherein Ethan Hunt receives messages that self-destruct. (Wooledge , 2000)For the sake of totality, it would be best to include Steganography, the science of hiding information from people who would spy on a person. This type of encryption is designed not to let spies k now that there is indeed a something hidden in a certain message. It is very effective, but only used occasionally. (Wooledge , 2000) Along with the internet, there is a large growth in the variety of forms of electronic communications, making its security very important. There are a number of enumerated uses for Cryptography such as protection of e-mail messages, credit card information, corporate and other important information.(Jupiter Media Corporation, 2004) After a brief background on Cryptography, readers would come to know why it is important to use them in their daily activities. The following are common concerns, goals or objectives that answer the above stated question. Message Confidentiality; Encrypted messages would only be understood by intended recepients of a certain message. If a sender would want to hide certain information from the public or from someone in particular, it would be best that cryptography is used.In that manner, only the receiver would have the key to translate the message into a useful and understandable one. Message Integrity; If an encrypted message is intercepted and changed during the sending process, it would easily be known by the receiver, which secures its integrity. Sender Authentication; It would be possible to make sure of the identities of both sender and recepient of the message. With cryptography, the recipient would be able to verify the true identity of the sender, along with the origin and destination of the message.Sender Non-Repudiation; This would prevent a sender from denying an intention to send and that he or she is the true sender of the said message. (Wikibooks, 2007) Though these cryptographic procedures are effective enough to achieve the goals, and concerns mentioned, it is still important for receivers and specially senders to practice caution such as creating a password with a very strong integrity, logging off private systems when they are not being used by the owner and keeping all private inf ormation to oneself. (Pawliw, 2006) Works Cited Cryptography. (2006).In Merriam-Webster Online Dictionary [Web]. Merriam-Webster, Incorporated. Retrieved January 24, 2007, from http://www. m-w. com/cgi-bin/dictionary? book=Dictionary&va=cryptography Cryptography. (2007). In Wikipedia, the Free Encyclopedia [Web]. Wikimedia Foundation, Inc.. Retrieved January 24, 2007, from http://en. wikipedia. org/wiki/Cryptography Pawliw, B (2006, January 13). Cryptography. Retrieved January 24, 2007, from Search Security. com Web site: http://searchsecurity. techtarget. com/sDefinition/0,,sid14_gci214431,00. html Wikibooks, (2006, November 1).Cryptography/History of Cryptography. Retrieved January 24, 2007, from Wikibooks, the Open-Content Textbooks collection Web site: http://en. wikibooks. org/wiki/Cryptography/History_of_Cryptography Wikibooks, (2007, January 10). Cryptography/Introduction. Retrieved January 24, 2007, from Wikibooks, the Open-Content Textbooks Collection Web site: http://en. w ikibooks. org/wiki/Cryptography/Introduction Wooledge , G (2000, October 11). What types of cryptography are there?. Retrieved January 24, 2007, from wooledge. org Web site: http://wooledge. org/~greg/crypto/node5. html

The Role of Information Technology in Organization Design Essay

The Role of Information Technology in Organization Design - Essay Example In case of a new technology-based system for Saudi Arabian hospital operational management, we can have a lot of primary and secondary stakeholders. In this regard these stakeholders can influence the system or else the system can influence these stakeholders. Below are some of the main stakeholders of new IS and IT-based technology at Saudi Arabian hospital: (Henry C. Lucas & Baroudi, 1994) and (Laudon & Laudon, 1999) The technology can be proficiently influenced by a lot of cultural characteristics of people at the hospital. In the scenario, there are a lot of aspects related to a culture those can influence the innovative working and handling of the technology-based system. Recognizing the cultural aspect is really a prime factor that is fairly significant for the effectual analysis and investigation of information technologies in that culture at a diversity of levels, comprising executive, nationwide and group, is capable to influence the thriving establishment and exploitation of information technology. In this scenario I will assess some of the major cultural aspects which are outlined below: In case of cultural aspects which can competently influence the functions and operation of the new technology-based system at the Saudi Arabian hospital, we can assess that people are generally expecting an elevated performance in addition to simplicity through the establishment of the new technology-based structure. While in case of experiencing a number of complexities in the system’s working and performance they become hopeless. In this scenario, there is an awful need of building appropriate prospect designed for the system management and utilization. The Arabic language is the native language of Saudi Arabia on the other hand new IT system will be based on the English language. In case of system usage, the language based aspects can appear into the enhanced performance of the overall system.  

Negotiations and Conflict Resolution Assignment Example | Topics and Well Written Essays - 750 words

Negotiations and Conflict Resolution - Assignment Example Also what is their resistance point, meaning how far can they go in the negotiations to receive the desired result. And what the cost of terminating the negotiations altogether will be (Lewicki et al, 2011) Lewicki (2001) elaborates that another tactical tasks is to try and supervise and somewhat manage the impressions of the other party. If the negotiator can do this and influenced ones impressions, then he can also modify the perceptions of the other party. One of the approaches is to conceal information. Again, such a strategy can carry ethical implication. Carefully exercising such tactics may mean that the negotiator can actually manipulate and orchestrate the deal, delay or even terminate the negotiations. One can also influence the cost of the bargaining. There are three ways to do so – in a disruptive way, in a alliance with outsiders and in a scheduled manipulation (Lewicki et al, 2011). In addition to the key steps the negotiations transition through 3 stages. The first stage is when all the planning and initiation to find a counter business partner is (Mnookin, 2011). The Second stage is when the negotiations begin and some issues need to be overcome to conclude the deal. And the last stage is when the agreement is executed. During the preparation parties need to find out what are their goals and how we can work together to reach it. Building relationship with the other party is all about understanding and accepting the differences and similarities not only between the businesses, but between each others characters (Lewicki et al, 2011) During the information gathering, the parties learn and collect clues about the businesses and what issues may arise. The use of the information implies that the parties have to assemble their best cards and present their argument. The bidding is when the negotiators trade their offers and each party explains what is willing to give and what is

Ruth Benedict Scholarship Essay Example | Topics and Well Written Essays - 2250 words

Ruth Benedict - Scholarship Essay Example Please do these questions on that pamphet: World War Two has taught Americans that no matter how different we all are, we all basically live in one world, no matter how big it is, or how different we all look. It has also taught us that though we come from different races, we are all the same. We are all human beings. We all have our differences but there is nothing which is irreconcilable. The key is unity and understanding compromise. We must all learn to live together or perish together, if we will not be able to learn to put up with our differences. Man must believe in his good nature that a certain kind of world understanding would be reached, that he has his virtues and is capable of putting them into practice. Science has taught us of the unity of the human race and that we are all the same. Our superficial physical differences are just a by-product of the region where each group of people lived. Just like what is stated in the text "the world's small population was dispersed into different places and they slowly developed physical differences". This fact has changed in a way that it has been made stronger. More nations are now united. Technology has paved the way for this. Now, the world seems to be geared into acquiring a universal language in the form of the English language. Aside from the bible truth that we were all born of Adam and Eve, science also proves that all human beings are all the same. The differences are just all superficial. The anatomy of the human body just basically proves that we all just have one makeup. We have the same number of bones, the same set of organs, eyes, ears, teeth, etc. One could break down every living cell in our body, everything would point out, and taxonomy affirms that the human race is just one big family. Our bodies are undeniable proofs of the brotherhood of men. 4. List all the typical features that are usually associated with racial differences. (173ff.) According to Benedict:The Negro has dark skin while the white men's skin is considered too sallow. The shape of the head is also a racial trait. People's hair is often the same over great areas: frizzy hair, lank hair, wavy hair. Europeans remained quite hairy, but in some parts of the world body hair almost disappeared. Blue eyes appeared in the north. In some places in Asia, a fold of skin developed over the inner corner of the eye and produced what we call a slant eye. Some noses were too flat or too pointed. The body structures are also different. 5. What did Europeans do with these differences (172/3) Do people still do that today In a way, these differences prompted men, not only the Europeans to discriminate. Appearances were used to set standards and eventually judge people not for who they are, for their abilities and the worth of their existence but on how they look. The Europeans categorized people into many different races. Each race was described according to skin color, kind of hair, kind of lips, height, and head shape. People still discriminate. Some are quite blatant while some do it covertly. The point is people could look different or could be different but that

How to implement a new strategy Essay Example | Topics and Well Written Essays - 750 words

How to implement a new strategy - Essay Example In order to prove their point in their article, the authors present the analysis of two different companies, DuPont Engineering Polymers and the Royal Canadian Mounted Police. These companies â€Å"used the tools of balanced scorecard strategy management to guide the decentralized units in their search for local gain even as they identified ways for them to contribute to corporate wide objectives† (Kaplan and Norton). Quite a few things need to be taken into consideration when a company picks a management system. The authors feel that developing a management system with a balanced scorecard framework is the best way to start with a successful system. Three things should be considered when doing this; the customer perspective, the financial perspective, and the learning and growth perspective. Prioritizing is also important. Several companies have successfully benefited from this approach by picking three to five strategic themes in order to prioritize the different enterprises of the company. Collecting these strategic themes and ideas can help to give the company focus on what it needs to both work on and focus on when developing its strategy. Some important themes can focus around customers; for example, the need to lower cost for customers, the need to attract other customers that may be beneficial to the business, and ways to make relationships with customers even more important by cross-sell ing or providing them with other services that they may need. Executive teams will need to identify strategic initiatives that support each theme and make sure that the resources, mainly the money and the manpower, are there to support each initiative. Scorecard based systems can be very effective for companies. They can help to measure performance and link together goals within the company. These themes help the corporation focus on its goals and priorities. In order to demonstrate this, the article moves into giving

Report Essay Example | Topics and Well Written Essays - 2500 words - 9

Report - Essay Example This report is about the development and analysis of a database system for a recruitment agency that is operating worldwide and specializing in short contracts for programming and website development work. This report will offer a deep analysis of the main database design and development aspects for the business of recruitment agency. According to Oz Effy (2008), the processes of decision making and problem solving both are based on information. In addition, the decision making is vital process of everyone’ life, people work, play, communicate or do anything they need and use information. In the same way, in a corporation gathering the correct information efficiently, keeping it properly consequently thus it could be utilized and manipulated when needed, as well as making use of it to facilitate the corporation or individuals to attain personal or business objectives. Consequently, the main intention of database and information systems development and implementation is to have facility and support in the above discussed areas. We can use and apply these understanding and database information for getting success in every department of a business. However, in a corporation information system consists of databases, hardware, data, telecommunications, software, procedures and people. In addition, the use of in formation systems and databases can be seen in every walk of life. Their capacity to facilitate and resolve problems as well as making decisions makes them fundamental in our lives, society, business and management (Oz, 2008; Whitten, Bentley, & Dittman, 2000; Turban, Leidner, McLean, & Wetherbe, 2005). The recruitment agency has carried out a survey among 30,000 people and taken response against different personnel, job and web development related aspects. This data is available in form of flat file database. In other words, the

Third World Country Term Paper Example | Topics and Well Written Essays - 2000 words

Third World Country - Term Paper Example eastern beliefs and practices and resulted to a culturally conservative but socially dynamic people who has always preserved the rich native culture but opened its arms to the influences of the west. The National Statistics Office (NSO) of the Philippines reported that its population is at 88.57 million as of August 2007. The National Capital Region (or more popularly called Metro Manila), where the capital city of Manila is situated has 11.55 million, the second largest populated region while the two regions adjacent to the National Capital Region are the 1st and the 3rd largest. The combined number of residents of these three regions already comprised more than one third of the entire population at 37.3% (Ericta, 2008). The Philippine economy had been sluggish compared with its other south east Asian neighbors, however the year 2007 showed indications of a stronger economy when it posted an average real growth rate in gross domestic product (GDP) of 7.3%, by far the highest in 31 years (WHO regional office, 2009). However, poverty statistics showed a 2.5 percentage points increase in poverty rate from â€Å"4.7 million poor families in 2006 compared with 4.0 million estimated in 2003† (WHO, 2009) thus the World Health Organization regional office in the western pacific surmised that the economic challenge is to trickle down the signs of economic progress to the poor sector of the population in order to alleviate poverty (WHO, 2009). Henderson reported that â€Å"poverty in the Philippines is most acute and widespread in rural areas (2002)† but Metro Manila, has the lowest occurrence of this nationwide phenomenon, where there are only 5% of the nations poor. He also conveyed how worse the situation is especially when translating the conditions in monetary value. The Filipino below the poverty line earns â€Å"less than $276 a year (...) considered the minimum required to meet basic living requirements† (Henderson, 2002). Culturally, the Filipinos adhere to

Right Testicular Pain Case Study Example | Topics and Well Written Essays - 1000 words

Right Testicular Pain - Case Study Example Just as Brown-Guttovz (2007) states, to eradicate chances for misdiagnosis, I may have to: observe the patient’s gait and resting position; the natural position of the testis in the scrotal sac when the patient is standing; the presence or absence of cremasteric reflex; determine whether the swelling is reducible; check and compare the palpitation of the scrotum, scrotal contents of the affected Hemi scrotum against the affected Hemi scrotum; and analyze palpitations in the lower abdomen and the inguinal and cord canals.Nevertheless, from the foregoing, the absence of the cremasteric reflex make it clear that the patient is suffering from testicular torsion and not any other testicular conditions that are also accompanied with pain, The evaluation, diagnosis, and treatment of the patient is required and should be done very fast because if testicular torsion goes untreated for 6 hours, the affected testis may be lost. In this respect, blood tests will not be considered at this stage. Radionuclide scanning is very accurate but may not be applicable at this stage since time will be of the essence. In light of the recommendation put forth by Somani, Watson, and Townell (2010), Doppler tests may be used to identify the absence of the patient’s blood flow in the affected or twisted testicle. The Doppler ultrasound scan on the scrotum is 90% accurate in detecting testicular torsion and differentiating testicular torsion from other sources of testicular pain and complications such as epididymitis.

Law Essay Example | Topics and Well Written Essays - 1500 words

Law - Essay Example This is why some evidence is kept for years under protection to ensure that every suspected criminal is rightfully charged. Doctor and attorney client privileges exist because every individual has a right to defend themselves by using an attorney before being charged. The defendants also have the right for a doctor in case they have medical complications. Every suspected criminal is expected to have an attorney who are of high qualities, excellent judgment, absolute integrity, fearless and have good knowledge of the case and the evidence presented to them (Totten, 2012). Privileges to an attorney and provision of doctor are very essential as it prevent innocent people from being prosecuted or individuals who are found guilty being given a fair trial that guarantees them a reasonable sentence depending on the crimes they have been found guilty for. The way a case is handled does not only affect the prosecuted and the prosecutors but the society at large. This is why the decision or th e judgment of the prosecutors should not be based on the public pressure, political influence or media instead should be based on the evidence found and the level the attorneys can prove the guilt or the innocence of the person at interest. This is why the prosecutors say that it is never easy being the one to make a judgment of whether a person is guilty or not, being able to put someone in jail makes the journey so lonely that there are people waiting for your decision and whichever you give one party will be hurt. The job takes character; it dictates one to have self confidence and inner strength (Totten, 2012). Without having solid moral direction and be compassionate in their approach the society will judge them and try to bring them down. Where there is evidence, the prosecutor should be guided by common sense and fairness because the decision they make may extremely affect the lives of many others than the suspected criminal. Suspected criminal should have privilege for an at torney who is supposed to represent them regardless of the amount of evidence found against them. This ensures that the evidence provided is properly marshaled and severely adduced because there can never be a fair trial without fair prosecution and presentation of enough evidence. The attorney also tries to reduce the charges brought against their clients by taking up deals (Siegel, 2009). The attorney is required to have the client attorney privilege of ensuring that they keep everything the client has told them under protection unless they decide not to represent those clients. Question 2 In the case Ulster v. Allen, 442 U.S. 140, 1979, presumptions as evidence was used where the defendants refused to the introduction of the guns into evidence since there was no enough prove to connect them with the guns. The trial court canceled the protest, relying on the presumption of custody created by a New York law providing that the existence of a weapon in a vehicle is presumptive confir mation of its unlawful ownership by all people then occupying the automobile, except when inter alia, the weapon is set up upon the individual of one of the occupants (Samaha, 20111). To find guilty a criminal defendant, the prosecutor must confirm

Phases of vietnamese buddhism Essay Example for Free

Phases of vietnamese buddhism Essay The history of Buddhist education in Vietnam can be studied by dividing it into four separate phases or periods. The formation of Buddhism in Vietnam. This started from the common era and lasted till the end of Chinese dominion Climax of Buddhism. Buddhism was at its peak during the independence The decadence after the Le Dynasty Revival period. This started in the beginning of the 20th century and has not ended yet. The period before the Common Era lays the foundation for the beginning and development of Buddhist education in Vietnam. It was the time when Siddhartha Gautama, who will later attain enlightenment and will be called as ‘Buddha’ was born. As he was born in India, Indians were the first to learn Buddhism. Later when Buddhism came to China, many Chinese monks went to Vietnam in order to spread Buddhism. However, it believed that the Chinese and Indian merchants came to Vietnam for trading. They brought monks with them saying that the monks were the â€Å"calmer of the sea† These monks started preaching their religion in Vietnam. It was easy for them to teach their religion to many people at a time, as Luy-Lau, later known as Ha-Bac was the centre of all trading activities. All the merchants who came here to trade, and merchants who were travelling between India and China, stopped here to rest, therefore, monks were able to spread their religion very easily. Many missionary activities were started as a result. Monasteries were built and Buddhism became important. This was the first time ever in the history of Vietnam, that monasteries were built . The next period or phase proved to be best for Vietnamese Buddhism. In this period Buddhist studies were at their peak and many famous people and rulers converted to this religion. It was when King Dinh Tien Hoang came in to power. Buddhism has its own hierarchy of monks and priests who were accepted by the court. Buddhism was now supported by the royal court and this helped many positive changes to take place. Buddhists were now respected and were considered as learned people. They were asked advice by the royal court and the rulers before taking decisions. This helped them get involved in many political and religious decisions and hence providing many decisions to be taken according to them. This era truly proved to be the best for Buddhist studies and it became one of the most predominant religions. After this, many kings and emperors converted to Buddhism. Many laws came into practice in this era, which were influenced by Buddhism, and hence were in favor of the Buddhists. Van Hanh became a Buddhist in this period. He is known as the meditation master and has influenced many people to convert to Buddhism. Any ruler who was not Buddhists was at least the supporter of Buddhism and this was a very positive point for the Buddhists. In 1010 A. D, almost eight monasteries were built in Ha Bac. All other monasteries and Buddhist temples were also repaired. Tripitaka texts, which were in China initially, were brought in Vietnam. Thousands of Buddha statues and paintings were made and set up. Festivals were set up. Many new monasteries such as Sung Kharh monastery and monastery at Mount Ba were built. In 1086 A. d Dai Lam monastery was built in Ha Bac. Later in 1118 A. D Thien Phat was built which had almost 1,000 Buddha statues . BUDDHIST STUDIES The entire Buddhist education comes from the studies of Buddha, who is the supreme teacher. All of the studies root from saddha, which is the faith in triple Gem. Depdnding upon these studies the students are taught according to the five rules. The students should know the rules, their reason and their appliance in daily lives. Most importantly, they should appreciate all these rules and believe in them. The students should know what is generosity and self sacrifice. These are essential elements that help the students overcome their worldly desires, their selfishness and greed. These five moral rules are dependent on each other. A student can gain by suta, which is by extensive reading of Buddhism texts. According to Buddhist studies the knowledge of a person is dependent on his inside belief of truth i. e. Dhamma. Calm and insight are the two main elements of any Buddhist teaching. In Buddhist education tasks and wisdom are dependent on each other. A student can attain wisdom by deep investigation, discussion and intelligence. This wisdom was the basic instruments which lead Buddha to salvation. This wisdom is the crown of all educations of Buddhism. Without wisdom, education is incomplete. Before French, people were chosen based on their education. These were officials known as â€Å"mandarins†. Learning was very important in those times. It was not just education but it lead a person to intellectual understanding, social standing, wealth and power. Buddhism came directly from India, hence there are many words in Vietnamese Buddhism which are influenced or are taken directly from India. The word Buddha is also taken as it is. However, as the Vietnamese culture is influenced a lot from the Chinese, hence when Chinese monks came to Vietnam, the word Buddha was replaced by the word Phat. In those days, Buddhism in Vietnam was influenced by Theravada Buddhism. It was seen as religion which helped good people and punished the bad. It was very difficult to teach Buddhism at that time as very little literature was available. Vietnamese had no written script; hence a few translations were made in Chinese. The era between 544 and 602 was an independent era and was helpful in spreading Buddhism.

Construction Of Automatic Voltage Regulator

Construction Of Automatic Voltage Regulator 1. Introduction Automatic voltage regulation is a process of converting the alternating voltage into a steady voltage. The device that is used to perform this process is known as an automatic voltage regulator(UST,2007,p1). An automatic voltage regulator is an electronic equipment that is used and designed to maintain the constant voltage level. This device prevent malfunctioning and damaging of the electrical equipment . Automatic voltage regulator uses electromechanical and electronic components of various types and designs. Automatic voltage regulator may include negative feedback control loops. The feedback voltage regulator operates by making comparison between the output voltage and input voltage.Electromechanical mechanism or electronic components are used in automatic voltage regulations. It can be used to regulate one or more AC (alternating current ) to DC voltage (direct current ).There are vast varieties of automatic voltage regulators depending on their types and size. 2. Construction of automatic voltage regulator The electronic voltage regulator is made in two different combinations i.e shunt and series regulator. In the shunt regulator, resistor is attached in parallel. In series regulator, resistance is attached in series. The diagrams below illustrate examples of series and shunt regulators. 2.1. Shunt Regulator It is not highly used for various applications. The current is drawn through the series resistor in order to maintain the constant level of voltage.Some current is passed through the load while the remaining current is passed through the shunt voltage regulator. These regulators are inefficient and are not widely used (Radio electronics,n.d,p1). 2.2. Series regulator The series regulators operate by using a variable element in series with the load. Due to this mechanism, the series voltage regulator provides an extremely efficient form of voltage regulation with the linear power supply (Radio electronics,n.d,p1). 3. Device which use Automatic Voltage Regulator Automatic voltage regulator is mostly used in computer power supplies in which DC voltage is stabilized. It is also used in automobile alternators and in central power station generation plants where automatic voltage regulators controls the output of the plant .In case of electric power distribution systems voltage regulators are installed at substations or along distribution lines so that all the users can receive constant and steady voltage . These regulators are also used in kitchens and in refrigerators(Meiji,n.d,p1). 4. Types of regulation The regulation is commonly calculated as constant. However, the regulation has been specified by two measurements (Robinson,2012,p1). 4.1. Load regulation: Load regulation is defined as the change in output voltage of a voltage regulator for a given change in the load current. 4.2. Line Regulation Line regulation is the degree or amount to which an output voltage which changes with an input voltage. 5. Working of Automatic Voltage regulators 5.1. Basics An automatic voltage regulator is a device that is housed inside an electronic device. It is primarily used to maintain a consistent voltage level. It can regulate alternating as well as direct current. 5.2. How it works It works by estimating the output level of the voltage of the devices against the reference voltage inside the device. They normally take a specific range of the voltage levels and produce an output voltage of a narrow range. (ehow,2012,p1). The diagram below clearly illustrates this phenomenon. It shows a voltage regulator that takes an input voltage ranging from +10% to -25% and converts it into the regulated range of +3% to -3%. C:Documents and Settingskirmani babloDesktopnew.bmp Figure 🙠 Voltage Regulator) 6. Operations of Automatic Voltage Regulators Automatic voltage regulator is designed for both single and three phase alternating current applications. The phase and phase regulation has been classified into two types .The single phase voltage regulation is the best method as it provides balance phase to phase voltage level .In case of three phase regulation, large difference in voltage level causes failure of electronic and electric devices due to overheating and vibration. 6.1. Single Phase regulation The single phase regulators are used in units pole that are mounted outdoors .Single phase voltage regulators are combined together and they provide voltage regulation for three phase .The below mention figure is an example of single phase regulation. 6.2. Three Phase regulation Three phase regulator can regulate all three phases at once or it may regulate all the three phases independently .In three phase power, it has not been observed that one phase has very high voltage while other has low voltage .The below figure is an example of three phase regulation. 7. Different types of Automatic Voltage Regulator On the basis of size and design the automatic voltage regulator exists in different varieties some are mention below: The Ferroresonant Transformer (Type) Voltage Regulator The Mechanical (Type) Voltage Regulator The Electronic (Type) Voltage Regulator 8. The Ferro resonant Transformer (Type) Voltage Regulator This type of voltage regulator has been invented by Joseph Sola in the year of 1983.The change in design of ferroresonant is very minor .This type of regulators are extremely reliable in use. Presently, they are being replaced with the voltage regulators. 8.1 Operation of Ferro resonant transformer It operates on the principle of ferroresonance. It is based on the operation of transformer in the region of magnetic saturation. During this stage, high changes in the winding current leads to minor changes in magnetic flux. The winding current is proportional to the input voltage and magnetic flux is proportional to output voltage(UST,2007,p1). This shows that the purpose of automatic voltage regulator is being fulfilled by this method. The graph below exhibits the respective pattern. 8.1. Different types of Ferro resonant transformer The Ferro transformer voltage regulator is also known by various names. These names are Constant voltage transformer, Constant voltage regulator, Ferro resonant voltage regulator,Ferro resonant transformer,Ferro and CVT. 8.2. Properties of Ferro resonant Transformer (Type) Voltage Regulator Their sizes range from 30VA to 25KA. The input voltage in these regulators range from +10% to -20%. The voltage regulation in the output ranges from +1% to 3%. It has a single phase application only. It has the tendency of stepping up and down the level of voltage. The cooling media of such regulators is air. It is mostly located indoors and has as efficiency of almost 92%. 8.3. Discussion This type of regulator provides complete isolation of load equipment from line noise and surges. The output voltage regulation is very smooth .This type of regulators are very efficient and durable .The design of this type of regulator limits the amount of current to the load end. The electronic devices can be easily protected if ferroresonant voltage regulator is used in these devices. 9. The Mechanical (Type) Voltage Regulator The mechanical type voltage regulator has been used in the market since 50 years .This type of voltage regulator exits in different variety of design .The electronic devices which use this type of regulator have an outstanding ability of correcting voltage drop in distribution lines. Mechanical type voltage regulator uses two methods of operation. The first one is changing turns ratio and the second method is by changing the magnetic induction between primary and secondary coils of the transformer. 9.1 Operations of Mechanical Voltage Regulator There are various operations that occur inside mechanical voltage regulators. These processes include 9.2. Tap Changing Voltage Regulator Operation Tap changing is a process in which a transformer has equal number of the winding turns on the primary as well as the secondary side .The voltage at input side is equal to the voltage at output side. The changing of number of turns on the secondary side can result in changing the voltage. The ratio of the turns can be easily altered by changing the location of the physical connection as well (UST,2007,p1). The mechanical tap changing voltage regulator uses some kinds of motorized drive system to change the taps on the output of transformer . 9.3.Magnetic Induction Voltage Regulator Operation The output voltage in a transformer can be changed by making the physical change of primary turn and secondary turns relative to each other .The primary side of transformer generates a magnetic flux which induces current to flow in the secondary windings(UST,2007,p1) . Physically rearrangement of the turn of secondary within the flux field can change the amount of current induced and output voltage. This type of voltage regulator changes the orientation of the transformer secondary side with respect to the magnetic filed .The magnetic induction voltage regulator is similar to the motor which have the primary windings in a cylindrical stationary configuration just like stator and the output windings which are called as rotor . 9.4. Different names of mechanical voltage regulator The various names of mechanical voltage regulator are Mechanical tap changing regulator,Tap changer, Motorized variable transformer, Motor-driven variable autotransformer, Auto-boost regulator, Electromechanical voltage stabilizer, Step voltage regulator,On load tap changer, Motorized variac and Line drop compensator. 9.5. Mechanical Voltage Regulator Characteristics The power quality automatic voltage regulators are of tap switch or magnetic induction types. Their size varies from 1 to 1500 KVA. The nominal voltages are less than 600 volts. The input voltage range varies from +20% to _20%. The regulated output voltage is between 1% to 3%. It has single phase as well as three phase applications. They possess the ability of stepping up and down the voltage. They require air as the cooling media. They are located indoors as well as outdoors. Their efficiency is greater than 95%. The utility automatic voltage regulators are of tap switch type. Their size varies from 500 to 3500 KVA. They have nominal voltages up to 34.5 KV. The input voltage range is between +10% to _10%. The regulated output voltage is between the range of 0.6% to 2.5%. It can operate on single as well as three phases. They require oil as the cooling media. They are located outdoors. Their efficiency is greater than 95%. 9.6. Discussion It provides very accurate output voltage regulation. It provides wide choice of kVA rating, voltage and configuration. It can be easily applicable to outdoor applications. It has high tolerance to system faults and overload. It has high tolerance to power factor and frequency deviations. It has good line isolation. It is relatively inexpensive. The mechanical drive components, brushes and contactors needs regular maintenance and replacement (UST,2007,p1).The overloads can damage brushes. The speed of voltage correction might be not fast enough for electronic loads. 10. The Electronic (Type) Voltage Regulator Electronic voltage regulator has been used in industries and for various commercial applications because of its speed and extraordinary performance. The demand of electronic voltage regulator is greater as compare to mechanical voltage regulator. 10.1 Operations of electronic voltage regulator The operations of electronic voltage regulator are based on the principle of double conversion electronic voltage. 10.2. Double Conversion Electronic Voltage Regulator Operation The double conversion electronic voltage converts AC power supply to DC with the help of rectifier .The voltage regulation is done in two ways. The first method is to regulate DC voltage output from the rectifier. It is an economical method .The second method is to supply inverter with constant DC voltage and set the voltage level during converting back to alternating current in the inverter(UST,2007,p1) .The double conversion voltage regulators have a low tolerance to high load currents mostly above than normal rating of the unit. 10.3. Electronic Voltage Regulator Characteristics Electronic voltage regulators are basically design for indoor, low voltage applications . 10.4. Double Conversion Electronic Voltage Regulators Their sizes range from 3KVA to 400 KVA. The input voltage ranges from +10% to _25 % for the tap switchers and +10% to _15 % for UPS. The regulated output voltage is between the range of +/-1% to +/-5%. It can operate on single and three phase as well. It can easily regulate voltage up and down. The cooling media required for double conversion electronic voltage regulators is air. They are generally located indoors and have efficiency up to 95 percent. Size (kVA): 3 VA up to400 kVA Nominal Voltages: Common AC voltages 120, 208, 240 480 at 60 Hz Input Voltage Range: +10% to -25% for tap switchers and+10% to -15% for UPS (varies by manufacturer) Output Regulation: +/-1% to +/-5% Phase: Single and three phase Voltage Step Up/Down: Yes Cooling Media: Air Location: Indoor Efficiency: Up to 95 10.4. Discussion The output voltage regulation is very good. It possesses ultrafast voltage correction speed. It offers no restrictions on the number of correction cycles. It gives versatility in kVA rating, voltage and configuration. It needs very low or no regular maintenance. It has good line isolation. It has poor current overload capacity. It is more expensive than mechanical voltage regulators. 11. Conclusion The automatic voltage regulators are becoming of increase significance due to variety of reasons. They are extremely essential for maintaining the utility level of the voltage. They can drop the voltage due to their ability of voltage regulation. They are highly sensitive to voltage levels and they prevent any kind of fluctuations , thus help in ensuring that equipments do not suffer any kind of damage. The use of voltage regulators avoids and reduces the risks of overheating of equipments as well. The use of voltage regulators is constantly increasing with the passage of time.

The Trader Joes Marketing Plan Marketing Essay

The Trader Joes Marketing Plan Marketing Essay Trader Joes is one of the most successful grocery store chains in United States. The brand started as a small convenience store in Los Angeles and has grown to be one of the most recognizable brands selling organic and high quality products. The trademark difference between Trader Joes from their competitions, especially Whole Food Market, is stocking and selling the product produced by Trader Joes. By that, they have responsibility on their product and they do not need to pay the fee to any manufactures, or third party companies, so they will keep the price at affordable for the customer. It is undeniable that Trade Joe is widely recognized as one of Americas successful and trustworthy brands. However, due to the high cost of living, consumers today are watching their budget. Through this marketing plan, we want to make Trader Joes a well-known grocery store in youth adult market not only by the high quality product but also by the affordable price to bring in customers, and to successful in the new segment. Introduction The owner, Joe Coulombe, opened trader Joes in 1958 in Pasadena, California. At that time, Trader Joes were named Pronto Markets, the popular convenience stores at that time. In the following decades, Trader Joes expanded to locations throughout the United States. Trader Joes recent annual earnings were estimated to be $9.5 billion in sale in fiscal 2012 (ends June), up about $1 billion from a year earlier. In order to generate such a return of profit, Trader Joes has been using all means to keep down expenses, such as implementing no service departments which may reduce renting costs. Trader Joes sells all types of food and non-food items and is well-known for more than two thousands private-label products under its brand name, which counts for about 70% of the annual sale. Not only selling daily consumed food such as freshly picked and organic fruits and vegetables, bread, milk, juices, Trader Joes also provides other frozen or ready-to-serve products. For instance: spreads, gourmet cheese, frozen meat and other ethnic food ranging from Italian, Hispanic to Chinese, Indian etc. Nonfood items are available as well, such as Trade Joes soap, vitamins, lotions and creams. With alcohol selling permit, like other grocery stores, Trade Joes also carries beer and wine. One of its most famous selections is its wine brand Charles Shaw, which is often called as Two Buck Chuck, because of affordable price. Nowadays, with almost 400 stores across the country, Trade Joes has made its company image as high quality food, a one-stop for all with full of shopping ease and conveniences. Marketing Analysis TARGET MARKET Targeting at office professionals aged 18 to mid-40s with annual income around $35,000 to $60,000 as primary market; Trader Joe is looking at consumers who are in the middle stage of their life. Those would be more ecologically conscious about healthiness of the food they consume. This target market tends to eat locally and spends more on groceries. A lot of them are vegetarians and require their food to be gluten-free. The above primary group is finalized as Trade Jose company adding two sub-groups when studying their target market. The first sub-group is young professionals and the second one is the current target demographics of the growing multinational population and people who tend to buy food from vending machines Trade Joes also plans to have a secondary target market of those born between the early 1980s to early 2000s. This generation is considered in the marketing plan because they are most likely willing to buy healthy and organic products. Since this young population has been adapted to nowadays fast-paced life, they are more critical with time and demand more convenience. CONSUMER/SOCIAL FACTOR On current movement, people prefer the organic and healthy food and they support local business, local farmer market. They willing to go for unique or store brand instead of big brand names as long as it promote healthy products, ingredients, and ethical, green production process. In other hand, the customer now prepares for them enough knowledge about nutrition, so they are so picky on their choice. Moreover, due to the high living cost, the customer also watches their budget for grocery. COMPETITIVE FACTOR The primary competitor of Trader Joes is Whole Food market. Marketing Plan Trader Joes is successful in United States by their high quality product and good service. However, Trader Joes needs specifically targeted marketing goals and strategies in order to succeed in target customer. MARKETING OBJECTIVE Through the marketing plan, Trader Joes will reach their target customer through social media. Moreover, this plan will help the company raise their awareness in new adult, from 18 to 33 years old market by 30 percent over six months period through social media and advertising. MARKETING RESEARCH Trader Joes does not use any kind of advertising form. The company follows their low profile in core philosophy; they eschew advertising agencies and television completely. Trader Joes use their employee and customer serves as an ambassador of the brand, or using the Word by Mouth strategy. Therefore, the company leans on the current customer database and however, they are attracting the new customer in a passive way, especially the young adult who uses social media regularly. PRICING For competitively with other competitors, Trader Joes should have a good pricing strategy. This strategy would keep their product at a competitive price but still have a quality of the product. For some product like grocery, base on the local farm, we can use the discount, or the sale to make the price lower than competitors. SALE PROMOTION For attracting more customers, Trader Joes would have weekly sale promotion in store, and post in the Facebook or Twitter or do The Fearless Flyer. The unique of the Fearless Flyer is in that flyer, Trader Joes not only consists the advertising of their in store promotion at that moment, but also include the recipe, the tips for cooking. Therefore, the customer when receive that flyer, they tend to read a whole flyer and keep it if they think it useful. PUBLIC RELATIONS One of the primaries of Trader Joes, the Whole Food Market is very good in public relation. They donate their food in the local food bank every week, and of course, they receive the award and certificate for that good will. However, if Trader Joes step in this charity, it would be late, and it doesnt help to increase the fame. So I would recommend another plan, like support the after school program, the senior living or sponsor for some organization like breast cancer, marathon 2Kà ¢Ã¢â€š ¬Ã‚ ¦ Our target market is a youth adult, who cares about their environment and social. So if we keep doing this strategy, I believe that we will catch their attention and bring more customers to our store because they will realize that their spending money would help them back by our program support for their children, their parent or their grandparents. INTERNET/SOCIAL MEDIA Our target is the youth adult, who was born in the technology decade, and the best way to catch their attention is using their own way. They using Facebook or Twitter like the primary way to communicate with each other. The first thing is Trader Joes have to open social media account. Then for attracting they follow us on Facebook or Twitter; Trader Joe should release any coupon or special sale in store and if they want to get these coupons, they have to follow or like the fan page. By that, we will have a fan on social media, and for any update, any news from Trader Joes, this fan base would the first one who receive that news and expand it. Moreover, Trader Joe website and fan page can build awareness about its own brand by updating the social support, the new product, or any helpful information like recipe and nutrition chart for the product. Executing and Implementing the Marketing Plan BUDGET ALLOCATION Trader joes company. (2013). (). Austin, United States, Austin: Dun and Bradstreet, Inc. Retrieved from http://search.proquest.com/docview/230609054?accountid=10351

Critique On Keynes :: essays research papers

History of Economic Thought: The writer begins with an introduction in which it is stated that the schools of thought were contradictory in their theories. What should have been answered is how and from what perspective: Neo-classical or Keynesian? The main points of her paper are the following: "Neo-classicists, such as Friedman, hold that the U.S. failed to provide liquidity to its banks," which caused the great depression; if the government does not intervene, the economy would then head towards full employment. Keynesian economists, on the other hand, believe that the government should intervene actively through means of fiscal and monetary policy to promote full employment and economic growth (with price stability). Moreover, they believe that the cause of the Great Depression was due to the government not intervening as they should have. The writer assumes that the Great Depression could have been resolved by both the Keynesian method, or the Neo-classical, however, does not state the cause of it or methodology. There may be no wrong or right answer, nonetheless, some reason for it should have been drawn; this approach would clarify what the Keynesian or Neo-classical remedies are. The writer does not develop the main points throughout the paper. She goes on restating the ideas by saying that Friedman believes that the economy is "self-adjusting and regulating" and that "Keynesian economists credit good monetary and fiscal policy with getting an economy out of recessions and periods of low growth. I did not get a sense of what side she was advocating, it seems that she may have been neutral. Furthermore, she did not state the two schools of thought’s analysis of th macroeconomy, which led them to think that their methodology was correct (according to them). In reference to the monetarists (especially Friedman) she did not mention how they advocated steady and consistent growth of money stock. In her conclusion, she stated that "human behavior is complex and often hard to predict. Keynesian ans Neo-classical economists are often trying to make sense of the nonsensical".

Cloning :: essays research papers

Cloning   Ã‚  Ã‚  Ã‚  Ã‚  Duplicating of genes and DNA†¦. Cloning? Cloning is basically the reproduction of cells. You take an unfertilized cell, combine it with a cell from the same organism and create a new living cell. The question is†¦is cloning OK? Is the breeding of a bigger and meatier cow and fresher healthier potatoes equal to cloning a person? Many different groups debate upon these questions. Religious groups argue that God created all, and he thrives on diversity. This diversity is being threatened by cloning. Some also believe the process which scientists use is murder. Because half of the nucleus used to make a normal being is sucked out, and destroying the original DNA is murder. The half set of DNA in the unfertilized egg cell is destroyed, but suggesting that destroying a mere nonliving, nonthinking chemical such as DNA is murder is ridiculous. Thousands of cells will die in your body as you're reading this, and their DNA will be destroyed with them. Is that murd er? Cloning, in it’s use right now with just foods and animals are quite beneficial. It opens many opportunities for both scientific and general population needs. Scientists use cloning techniques to make identical test subjects, so reducing the amount of error in animal tests. They can also protect endangered species by cloning couples in captivity. Many can benefit from organ cloning, although the process has not been perfected yet. Human ears have been reproduced on mice, which shows all the applications of cloning. In the future, this genetic mutation may save the lives of countless people that are if we can use animals to grow human organs in. The possibilities for this process have no boundaries. Like anything else that is new, the cloning process can be used for wrongful purposes. For instance, when a species is too much alike, the possibility of a single disease wiping it out is very high. Overlook the disease and you bread weak animals. However, are the scientists vulnerable to our criticism for say overlooking the viruses or hereditary sicknesses? Or should we credit them for perhaps looking into that already? The scientists have no doubt already considered the consequences of over breeding in these plants and animals that are weak and diseased. Yet our society relies on the same small variety of plants and animals for our natural resources. All of this was, in actuality, happening before cloning started and it doesn't change much in the way of agriculture. Cloning :: essays research papers Cloning   Ã‚  Ã‚  Ã‚  Ã‚  Duplicating of genes and DNA†¦. Cloning? Cloning is basically the reproduction of cells. You take an unfertilized cell, combine it with a cell from the same organism and create a new living cell. The question is†¦is cloning OK? Is the breeding of a bigger and meatier cow and fresher healthier potatoes equal to cloning a person? Many different groups debate upon these questions. Religious groups argue that God created all, and he thrives on diversity. This diversity is being threatened by cloning. Some also believe the process which scientists use is murder. Because half of the nucleus used to make a normal being is sucked out, and destroying the original DNA is murder. The half set of DNA in the unfertilized egg cell is destroyed, but suggesting that destroying a mere nonliving, nonthinking chemical such as DNA is murder is ridiculous. Thousands of cells will die in your body as you're reading this, and their DNA will be destroyed with them. Is that murd er? Cloning, in it’s use right now with just foods and animals are quite beneficial. It opens many opportunities for both scientific and general population needs. Scientists use cloning techniques to make identical test subjects, so reducing the amount of error in animal tests. They can also protect endangered species by cloning couples in captivity. Many can benefit from organ cloning, although the process has not been perfected yet. Human ears have been reproduced on mice, which shows all the applications of cloning. In the future, this genetic mutation may save the lives of countless people that are if we can use animals to grow human organs in. The possibilities for this process have no boundaries. Like anything else that is new, the cloning process can be used for wrongful purposes. For instance, when a species is too much alike, the possibility of a single disease wiping it out is very high. Overlook the disease and you bread weak animals. However, are the scientists vulnerable to our criticism for say overlooking the viruses or hereditary sicknesses? Or should we credit them for perhaps looking into that already? The scientists have no doubt already considered the consequences of over breeding in these plants and animals that are weak and diseased. Yet our society relies on the same small variety of plants and animals for our natural resources. All of this was, in actuality, happening before cloning started and it doesn't change much in the way of agriculture.

A University Student Budget Sheet :: Papers

A University Student Budget Sheet In this assignment I will be consulting a university student’s Budget schedule I will be offering the student advice on how to solve problems when in dept by offering an student loan, grants etc. I will be referring to the budget schedule to what areas the student can cut sort on to cover the other costs mostly needed to be covered. UNIVERSITY STUDENT BUDGET SCHEDULE Mouthly Week 1 Week 2 Week 3 Week 4 Total INCOME DESCRIPTION University Student (Grant)  £142  £142  £142  £142  £570 Interest and dividends  £0  £0  £0  £0  £0 Savings  £150  £0  £0  £0  £150 TOTAL INCOME  £292  £142  £142  £142  £720 EXPENSE DESCRIPTION Beauty shop and barber  £5  £0  £5  £0  £10 Cable TV  £15  £0  £15  £0  £30 Clothing  £50  £0  £50  £0  £100 Credit card payments  £25  £0  £25  £0  £50 Electricity  £50  £0  £0  £0  £50 Entertainment and recreation  £25  £25  £25  £25  £100 Gas company  £50  £0  £0  £0  £50 Gifts  £15  £0  £0  £15  £30 Groceries and outside meals  £15  £0  £0  £0  £15 Household  £15  £10  £10  £5  £50 Laundry and dry-cleaning  £3.

The Age of Stupid

How many of these Issues were you aware of before? I was aware of global warming; however I was not aware of what the contributing factors were, how severe it was, and how we as Americans are bad consumers and our decisions are effecting our environment. 2. What did you learn? Pick two issues mentioned and describe how they are related. I learned that thousands of years ago, the energy needed to grow our crops and feed our animals was limited by the dally unlighted falling on the earth and we were sustaining but now we use the energy equivalent to hundreds of years of sunlight every single year.Americans now consume twice as much oil than Europeans; nine times more than a Chinese person, fifteen times more than an Indian, and fifty times more than someone from Kenya and in doing so, the level of greenhouse gases and emissions increase pollution and affect the climate which contributes to global warming. It also further puts demands on the economy to produce oil, which is very expensi ve and dangerous to manufacture. 3. How Is business connected to the environment? Name two ways.The movie talks about â€Å"resource curse† when interviewing the young woman from Africa. It was said that finding oil increases countries poverty because as oil wealth is concentrated in the hands of few; the agriculture, education, and health system of the country become neglected and often collapse. Due to the political system, the 13% of revenue that Is supposed to be spent on community development is lost. Profit will always proceed when you have a demand for a product regardless of how It effects an environment.The movie explained that â€Å"flares† emit about 70 million tons of carbon dioxide every year which is more than the annual emission from ten million British homes and is the leading cause of asthma, bronchitis, skin disease, and cancer in areas where oil is found, yet it is easy to transport and sell so business is continued. 4. What do you feel are relevant and useful approaches to Innovation that can make a preference to the direction our planet is going (in relation to information shared here)?And how might we improve that, or build on that? Incorporating and taking advantage of alternative methods of energy such as solar panels, green products, electric cars that don't require fuel/oil and using the remaining oil we have and building a society that can function without It Instead of using tens of billions of barrels each day. As Americans we need to become better consumers and downsize n things we really do not need.The movie talked about consumerism and how it is a continuous cycle of wasting resources we really do not have. In order to improve or build on approaches to innovation, we first must educate ourselves about things like preventing deforestation, and reducing carbon dioxide emissions. 5. Find an example of innovation, from any source, to substantiate your idea. (cite your source). Be ready to share this In class. Californ ians climate Is expected to become considerably warmer

Sample Questions

Chapter-1 MANAGERIAL ECONOMICS Multiple Choice Questions 1 Which of the following is a characteristic of a perfectly competitive market? a. Firms are price setters. b. There are few sellers in the market. c. Firms can exit and enter the market freely. d. All of these 2 If a perfectly competitive firm currently produces where price is greater than marginal cost it a. will increase its profits by producing more. b. will increase its profits by producing less. c. is making positive economic profits. d. is making negative economic profits. 3 When a perfectly competitive firm makes a decision to shut down, it is most likely that a.Price is below the minimum of average variable cost. b. Fixed costs exceed variable costs. c. Average fixed costs are rising. d. Marginal cost is above average variable cost. 4 In the long run, a profit-maximizing firm will choose to exit a market when a. Fixed costs exceed sunk costs. b. Average fixed cost is rising. c. Revenue from production is less than tota l costs. d. marginal cost exceeds marginal revenue at the current level of production. 5 When firms have an incentive to exit a competitive market, their exit will a. Drive down market prices. b. Drive down profits of existing firms in the market. . Decrease the quantity of goods supplied in the market. d. All of the above are correct. 6 In a perfectly competitive market, the process of entry or exit ends when a. Firms are operating with excess capacity. b. Firms are making zero economic profit. c. Firms experience decreasing marginal revenue. d. Price is equal to marginal cost. 7 Equilibrium quantities in markets characterized by oligopoly is a. Lower than in monopoly markets and higher than in perfectly competitive markets. b. Lower than in monopoly markets and lower than in perfectly competitive markets.Higher than in monopoly markets and higher than in perfectly competitive markets. d. Higher than in monopoly markets and lower than in perfectly competitive markets. 8 In economic s the central problem is: a. b. c. d. e. Allocation. Consumption. Scarcity. Money. Production. c. 9 Indicate below what is NOT a factor of production. a. Land. b. A bank loan. c. Labor. d. Capital. 10 Macroeconomics deals with: a. The behavior of firms. b. Economic aggregates. c. The activities of individual units. d. The behavior of the electronics industry. 11 Microeconomics is not concerned with the behavior of: a. Aggregate demand. . Consumers. c. Industries. d. Firms. 12 The study of inflation is part of: a. Normative economics. b. Macroeconomics. c. Microeconomics. d. Descriptive economics. 13 Aggregate supplies is the total amount: a. Produced by the government. b. Of products produced by a given industry. c. Of labor supplied by all households. d. Of goods and services produced in an economy. 14 The total demand for goods and services in an economy is known as: a. National demand. b. Economy-wide demand. c. Gross national product. d. Aggregate demand. 15 If marginal benefit is greater than marginal cost, a rational choice involves: a.More of the activity. b. Less of the activity. c. No more of the activity. d. More or less, depending on the benefits of other activities. 16 A student chooses to study because the marginal benefit is greater than the ________ cost. a. average b. total c. marginal d. expected 17 Periods of less than full employment correspond to: a. b. c. d. Points outside the production possibility curve. Points inside the production possibility curve. Points on the production possibility curve. Either points inside or outside the production possibility curve. 18 The circular flow of goods and incomes shows the relationship between: a.Income and money. b. Wages and salaries. c. Goods and services. d. Firms and households. 19 In a free market system, the amount of goods and services that any one household gets depends upon its: a. Income. b. Wage and interest income. c. Wealth. d. Income and wealth. 20 In a planned or command economy, all the economic decisions are taken by the: a. Consumers. b. Workers. c. Government. d. Voters. Answers for Multiple Choice Questions 1 (c) 2 (a) 3 (a) 6 (b) 7 (d) 8 (c) 11(a) 12(b) 13(d) 16(c) 17(b) 18(d) 4 (c) 9 (b) 14(d) 19(d) 5 (c) 10 (b) 15(a) 20(c) Chapter-2 PRINCIPLES OF MANAGERIAL ECONOMICSMultiple Choice Questions 1 The word that comes from the Greek word for â€Å"one who manages a household is a. Market. b. Consumer. c. Producer. d. Economy. 2 Economics deals primarily with the concept of a. Scarcity. b. Poverty. c. Change. d. Power. 3 Which of the following is NOT included in the decisions that every society must make? a. what goods will be produced b. who will produce goods c. what determines consumer preferences d. who will consume the goods 4 In a market economy, characterized by Capitalism, there is full interference by the State in the economic activities of consumers and producers. a)True (b) False 5 In a market system of economy, there is no harmony between individu al interests and interests of the community. (a)True (b) False 6 Efficiency is the relation between returns and cost. (a)True (b) False 7 The subject matter of macro –economic includes the theory of income and employment at an individual level. (a)True (b) False 8 Rational decision results in†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦for the employees. a. Division of work. b. Centralization. c. Discipline. d. Motivation 9 A Theory Y approach is more suitable where a job offers: a. a high degree of intrinsic satisfaction. b.The ability to exercise initiative. c. An element of problem solving. d. All of the above. 10 Breech identifies four main elements of management. They are planning, control, coordination and: a. The division of work. b. Centralization. c. Discipline. d. Motivation. 11 Many well-known business economists participate in public debates. (a)True (b) False 12 Marginal Utility is the utility derived from the additional unit of a commodity consumed. (a)True (b) False 13 Compared to the static model, the fishing effort in a dynamic model is likely to be a. Larger. b. Smaller. c. Similar. . Larger or smaller. 14 Land, labor, and money are the three categories of economic resources. (a)True (b) False 15 Which of the following is not an interest rate derivative used for interest rate management? Interest rate guarantee a. Floor b. Swap c. Cap d. All of the above are interest rate derivatives 16 An agreement which guarantees an investor a minimum return on a principal amount is called a: a. Cap b. Executive stock option c. Stock option d. Floor 17 Which of the factors listed below is not a reason for decision making in organizations being a complex process? a.Modern information systems enable people to evaluate a range of possible outcomes b. Factors in the current context of the organization affect the decision c. Several stakeholders will have an interest in the decision d. People have to make decisions in a historical context 18 The overall process of decisi on making in, for example, staff selection includes which of these stages? a. Deciding which candidate to appoint b. Identifying the need for a new member of staff c. Agreeing the job specification d. All of the above 19 A manager who is helping a customer return some shoes they purchased last week is dealing with what type of decision? . Uncertainty b. Non-programmed decision c. Bounded rationality d. Programmed decision 20 Decision making situations can be categorized along a scale which ranges from: a. Uncertainty to certainty to risk b. Certainty to uncertainty to risk c. Certainty to risk to uncertainty d. Certainty to risk to uncertainty to ambiguity Answers for Multiple Choice Questions 1 (d) 2 (a) 3 (c) 6 (a) 7 (b) 8 (d) 11(a) 12(a) 13(a) 16(d) 17(a) 18(d) 4 (b) 9 (d) 14(b) 19(d) 5 (b) 10 (d) 15(d) 20(d) Chapter-3 CONCEPT OF DEMAND Multiple Choice Questions 1 The quantity demanded of Pepsi has decreased.The best explanation for this is that: a. The price of Pepsi increased. b. Pepsi consumers had an increase in income. c. Pepsi's advertising is not as effective as in the past. d. The price of Coca Cola has increased. 2 Demand curves are derived while holding constant: a. Income, tastes, and the price of other goods. b. Tastes and the price of other goods. c. Income and tastes. d. Income, tastes, and the price of the good. 3 When the decrease in the price of one good causes the demand for another good to decrease, the goods are: a. Normal b. Inferior c. Substitutes d.Complements 4 Suppose the demand for good Z goes up when the price of good Y goes down. We can say that goods Z and Y are: a. Substitutes. b. Complements. c. Unrelated goods. d. Perfect substitutes. 5 If the demand for coffee decreases as income decreases, coffee is: a. An inferior good. b. A normal good. c. A complementary good. d. A substitute good. 6 Which of the following will NOT cause a shift in the demand curve for compact discs? a. A change in the price of pre-recorded cassette tape s. b. A change in income. c. A change in the price of compact discs. d. A change in wealth. When excess demand occurs in an unregulated market, there is a tendency for: a. Quantity supplied to decrease. b. Quantity demanded to increase. c. Price to rise. d. Price to fall. 8 Market equilibrium exists when _____________ at the prevailing price. a. b. c. d. quantity demanded is less than quantity supplied quantity supplied is greater than quantity demanded quantity demanded equals quantity supplied quantity demanded is greater than quantity supplied 9 A movement along the demand curve to the left may be caused by: a. A decrease in supply. b. A rise in the price of inputs. c.A fall in the number of substitute goods. d. A rise in income. 10 The quantity demanded of a product rises whenever (a) The product’s price falls. (b) Incomes increase. (c) Population increases. (d) The prices of substitute goods rise. (e) Consumer tastes and preferences change. 11 The equilibrium quantity mu st fall when (a) There is a decrease in demand. (b) There is a decrease in supply. (c) There is an increase in price. (d) There is an increase in demand and supply. (e) There is a decrease in demand and supply 12 The demand curve will shift to the left for most consumer goods when (a) Incomes decrease. b) The prices of substitutes fall. (c) The prices of complements increase (d) All of the above. 13 Producer goods, also called intermediate goods, in economics, goods manufactured and used in further manufacturing, processing, or resale. (a)True (b) False 14 Consumer goods are alternately called final goods, and the second term makes more sense in understanding the concept. (a)True (b) False 15 GDP stands for a. Gross Domestic Product b. Gross Deistic Product c. Gross dynamic product d. All of these 16 GNP stands for a. Gross national product b. Gross natural product c. Both (a)and (b) d.None of these 17 When the demand for a product is tied to the purchase of some parent product, its demand is called induced or derived. (a)True (b) False 18 An industry is the aggregate of firms (a)True (b) False 19 The ‘law of demand' implies that: a. As prices fall, quantity demanded increases. b. As prices rise, quantity demanded increases. c. As prices fall, demand increases. d. As prices rise, demand decreases. 20 When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as: a. Price rationing. . Price fixing. c. Quantity adjustment. d. Quantity setting Answers for Self Assessment Questions 1 (a) 2 (d) 3 (c) 6 (c) 7 (c) 8 (c) 11(d) 12(d) 13(a) 16(a) 17(a) 18(a) 4 (b) 9 (a) 14(a) 19(a) 5 (b) 10 (a) 15(a) 20(a) Chapter-4 DETERMINATION OF DEMAND 1 The demand for a product or a service depends on a host of factors. (a)True (b) False 2 Demand curves may also be shifted by changes in expectations. (a)True (b) False 3 Quantity demand is a specific quantity that buy ers are willing and able to buy at a specific demand price. (a)True (b) False 4 If the price of a complement increases, all else equal, a.Quantity demanded will increase. b. Quantity supplied will increase. c. Demand will increase. d. Demand will decrease. 5 Which of the following would lead to an INCREASE in the demand for golf balls? a. An decrease in the price of golf balls. b. An increase in the price of golf clubs. c. A decrease in the cost of producing golf balls. d. An increase in average household income when golf balls are a normal good. 6 If input prices increase, all else equal, a. Quantity supplied will decrease. b. Supply will increase. c. Supply will decrease. d. Demand will decrease. 7 Which of the following would decrease the supply of wheat? . A decrease in the price of pesticides. b. An increase in the demand for wheat. c. A rise in the price of wheat. d. An increase in the price of corn. 8 When Sonoma Vineyards increases the price of its Chardonnay from $15 per bo ttle to $20 per bottle, the result is a decrease in†¦ a. The quantity of this wine demanded. b. The quantity of this wine supplied. c. The demand for this wine. d. The supply of this wine. 9 Which of the following will cause a change in quantity supplied? a. Technological change. b. A change in input prices. c. A change in the market price of the good. d. A change in the number of firms in the market. 0 In which of the following cases will the effect on equilibrium output be indeterminate (i. e. , depend on the magnitudes of the shifts in supply and demand)? a. Demand decreases and supply decreases. b. Demand remains constant and supply increases. c. Demand decreases and supply increases. d. Demand increases and supply increases. 11 An increase in the number of firms selling pizza will cause, ceteris paribus, (a) an increase in supply. (b) an increase in demand. (c) a decrease in quantity demanded. (d) a decrease in the quantity supplied. 12 A change in demand is a change in th e ENTIRE demand relation. a)True (b) False 13 The demand for a given product will rise if: a. Incomes rise for a normal good or fall for an inferior good b. The price of a complement falls c. The price of a substitute rises d. All of these 14 Two explanations for the law of demand are (a) Price and quantity effects. (b) Substitution and income effects. (c) Opportunity cost and substitution effects. (d) Substitutes and inferior goods. (e) None of the above. 15 An increase in demand, ceteris paribus, will usually cause (a) A decrease in quantity demanded. (b) an increase in quantity supplied. (c) an increase in supply. d) a higher quantity and a lower price. 16. The quantity demanded of a product rises whenever (a) the product’s price falls. (b) incomes increase. (c) population increases. (d) the prices of substitute goods rise 17 The demand curve is downward-sloping because at a higher price for a good (ceteris paribus) (a) people buy fewer substitutes. (b) people buy more com plements. (c) people search for substitutes. (d) income rises. (e) substitutes become complements. 18 The supply curve is upward-sloping because at higher prices for a good (a) consumers search out more substitutes. (b) consumer income increases. c) demand is lower. (d) None of the above. 19 If the factors held constant along a supply or demand curve change, (a) the equilibrium may change. (b) the demand and supply equilibrium may be disrupted. (c) the supply or demand curve may shift. (d) All of the above. 20 If the price of crackers goes up when the price of cheese goes down, crackers and cheese are (a) inferior goods. (b) substitutes. (c) both substitutes and complements. (d) complements Answers for Self Assessment Questions 1 (a) 2 (a) 3 (a) 6 (c) 7 (d) 8 (a) 11(a) 12(a) 13(d) 16(a) 17(c) 18(d) 4 (d) 9 (c) 14(b) 19(a) 5 (d) 10 (c) 15(b) 20(d)Chapter-5 PRICE ELASTICITY OF DEMAND 1 If the price elasticity of demand for a good is . 75, the demand for the good can be described as: a . normal b. elastic c. inferior d. inelastic. 2. When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. In this range of prices, demand for this product is: a. elastic b. inelastic c. cross-elastic. d. unitary elastic. 3. If the price elasticity of demand for a product is equal to 0. 5, then a 10 percent decrease in price will: a. increase quantity demanded by 5 percent. b. increase quantity demanded by 0. percent. c. decrease quantity demanded by 5 percent. d. decrease quantity demanded by 0. 5 percent. 4 If an increase in the supply of a product results in a decrease in the price, but no change in the actual quantity of the product exchanged, then: a. the price elasticity of supply is zero. b. the price elasticity of supply is infinite. c. the price elasticity of demand is unitary. d. the price elasticity of demand is zero. 5. If 100 units of product K are sold at a unit price of $10 and 75 units of product K are sold at a unit price of $1 5, one can conclude that in this price range: a. emand for product K is elastic. b. demand for product K is inelastic. c. demand for product K has shifted to the right. d. consumers are sensitive to price changes of product K. 6 Total revenue falls as the price of a good increases if price ela sticity of demand is: a. elastic. b. inelastic c. unitary elastic d. perfectly elastic. 7 The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact that: a. Cheerios are a luxury. b. cereals are a necessity. c. there are more substitutes for Cheerios than for cereals as a whole. d. onsumption of cereals as a whole is greater than consumption of Cheerios. 8 What is the most likely effect of the development of television, videocassette players, and rental movies on the movie theater industry? a. b. c. d. decreased costs of producing movies increased demand for movie theater tickets movie theater tickets become an inferior good increased price elasticity of demand for movie theater tickets 9 The price elasticity of demand will increase with the length of the period to which the demand curve pertains because: a. consumers' incomes will increase. b. the demand curve will shift outward. . all prices will increase over time. d. consumers will be better able to find substitutes. 10. A state government wants to increase the taxes on cigarettes to increase tax revenue. (a)True (b) False 11 This tax would only be effective in raising new tax revenues if the price elasticity of demand is: a. unity b. elastic c. inelastic d. perfectly elastic. 12. Sony is considering a 10 percent price reduction on its color television sets. If the demand for sets in this price range is inelastic: A) revenues from color sets will remain constant. B) revenues derived from color sets will decrease.C) revenues derived from color sets will increase. D) the number of television sets sold will decrease 13 Elasticity of demand for a commo dity with respect to change in its price. (a)True (b) False 14 An elasticity alternative in which infinitesimally small changes in price cause infinitely large changes in quantity. (a)True (b) False 15 Three factors that affect the numerical value of the price elasticity of demand are the a. b. c. d. availability of substitutes time period of analysis proportion of budget All of these 16 The price elasticity of demand is one of four common elasticity’s used in the analysis of the market. a)True (b) False 17 Cross elasticity of demand is: a. negative for complementary goods b. unitary for inferior goods. c. negative for substitute goods d. positive for inferior goods. 18. A positive cross elasticity of demand coefficient indicates that: a. a product is an inferior good. b. a product is a normal good. c. two products are substitute goods. d. two products are complementary goods. 19 A market without legal prices is in equilibrium when: a. quantity demanded equals price. b. the d emand curve remains constant. c. quantity demanded equals quantity supplied. d. uantity demanded is greater than quantity supplied. 20 A relatively small change, say 1% on an INR 100,000 house, can make a BIG difference in the buyer’s decision to buy. (a)True (b) False Answers for Self Assessment Questions 1 (d) 2 (a) 3 (a) 4 (d) 5 (a) 6 (a) 7 (c) 8 (d) 9 (d) 10 (a) 11(d) 12(c) 13(a) 14(a) 15(d) 16(a) 17(a) 18(c) 19(c) 20(a) Chapter-6 TYPES OF ELASTICITIES OF DEMAND 1 If it is observed that, in a particular market, price has risen and quantity exchanged has increased, it is likely that: a. supply has increased. b. supply has decreased. c. demand has increased. d. emand has decreased. 2 The quantity of a good demanded rises from 1000 to 1500 units when the price falls from $1. 50 to $1. 00 per unit. The price elasticity of demand for this product is approximately: a. 1. 0 b. 16 c. 2. 5 d. 4. 0 3 If the elasticity of demand for a commodity is estimated to be 1. 5, then a decrea se in price from $2. 10 to $1. 90 would be expected to increase daily sales by: a. 50% b. 1. 5% c. 5% d. 15% 4 A long-run demand curve, as compared to a short-run demand curve for the same commodity, is generally: a. more elastic b. less elastic c. of the same elasticity d. none of the above. The price elasticity of demand is 5. 0 if a 10 percent increase in the price results in a a. 2%decrease in quantity demanded. b. 5%decrease in quantity demanded. c. 10% decrease in quantity demanded d. 50% decrease in quantity demanded. 6 Demand for a good will likely be more elastic, a. The higher the level of income. b. The larger the proportion of monthly income spent on it. c. The fewer the good substitutes available. d. The higher the price of complementary goods. 7 Demand will be more elastic, a. The higher the income. b. The lower the price. c. The shorter the passage of time after a permanent price increase. . The more substitutes available for the good. 8 The price elasticity of demand measures the sensitivity of demand to price changes. (a)True (b) False 9 If a good has no close substitutes and is regarded as a necessity by many consumers, then demand for the good will be quite elastic. (a)True (b) False 10 Cross elasticity of demand is the ratio of the percentage change in demand for a good to the percentage change in price for another. (a)True (b) False 11 A 50 percent increase in price that results in a 90 percent decrease in the quantity demanded indicates that demand is elastic in this price range. a)True (b)False 12 Demands for most goods tend to become more elastic with the passage of time. (a)True (b) False 13 If two goods are substitutes, then an increase in the price of one good will leads to an increase in the demand for the other good. (a)True (b) False 14 If two goods are complements, then a decrease in the price of one good will results in a decrease in the demand of the other good. (a)True (b) False 15 The price elasticity of demand is the same as the slope of the demand curve. (a)True (b) False 16 If demand is price elastic, then: a. a rise in price will raise total revenue. b. a fall in price will raise total revenue. . a fall in price will lower the quantity demanded. d. a rise in price won't have any effect on total revenues. 17 Complementary goods have: a. The same elasticity’s of demand. b. very low price elasticity of demand. c. negative cross price elasticity of demand with respect to each other. d. positive income elasticity of demand. 18 The price elasticity of demand generally tends to be: a. smaller in the long run than in the short run. b. smaller in the short run than in the long run. c. larger in the short run than in the long run. d. unrelated to the length of time. 19 If the price elasticity of supply of doodads is 0. 0 and the price increases by 3 percent, then the quantity supplied of doodads will rise by a. 0. 60 percent. b. 0. 20 percent c. 1. 8 percent d. 18 percent. 20 If the cross-price elastic ity between two commodities is 1. 5, a. The two goods are luxury goods. b. The two goods are complements. c. The two goods are substitutes. d. The two goods are normal goods. Answers for Self Assessment Questions 1 (c) 2 (a) 3 (d) 6 (b) 7 (d) 8 (a) 11(a) 12(a) 13(a) 16(b) 17(c) 18(b) 4 (a) 9 (b) 14(b) 19(c) 5 (d) 10 (a) 15(b) 20(c) Chapter-7 SUPPLY ANALYSIS 1 The cost of factor inputs like land, labor, and capital has a major influence on supply. a)True (b) False 2 Which of the following factors will make the demand for a product more elastic? (Assume the product has a straight-line, downward sloping demand. ) a. The product has no close substitutes. b. A very small proportion of income is spent on the good. c. A long time period has elapsed since the product’s price changed. d. A lower price 3 For a given normal supply curve, the amount of a tax paid by the buyer will be larger a. the more elastic the demand. b. the more inelastic the demand. c. the income elasticity is equa l to zero d. when the price is high. With a perfectly elastic demand and a normal supply (upward-slopping) a. consumers will bear the entire tax burden. b. consumers will not bear any tax burden. c. consumers and producer will split the tax burden in half. d. producers will not bear any tax burden. 5 Which of the following leads to the producers paying all of a tax? a. The supply is perfectly elastic. b. The supply is perfectly inelastic. c. The demand is unit elastic. d. The demand is perfectly inelastic. 6 The incidence (split) of sales tax is determined by the a. level of government which imposes the tax. b. federal government in all cases. c. greed of the seller. d. rice elasticity of supply and demand. 7 The market supply curve is the horizontal sum of the individual supply curve. (a)True (b) False 8 Supply determinants are five ceteris paribus factors that are held constant when a supply curve is constructed. (a)True (b) False 9 Supply is the willingness and ability of produce rs to make a specific quantity of output available to consumers at a particular price over a given period of time. (a)True (b) False 10 Individuals supply factors of production to firms. (a)True (b) False 11 The supply curve for tomatoes is not thus more elastic in the short run than in the momentary period. (a)True (b)False 2 Macroeconomic studies are based on empirical evidence. (a)True (b)False 13 Demand curve slopes upwards from left to right. (a) True (b)False 14 In the market, anyone who agrees to pay the requisite price of a product would be excluded from their consumption. (a) True (b)False 15 Aglets are the metal or plastic tips on shoelaces that make it easier to lace your shoes. The demand for aglets is probably a. perfectly elastic. b. inelastic. c. elastic but not perfectly elastic. d. unit elastic. 16 The cross elasticity of demand measures the responsiveness of the quantity demanded of a particular good to changes in the prices of a.Its complements but not its substit utes. b. its substitutes but not its complements. c. its substitutes and its complements d. neither its substitutes nor its complements. 17 If goods are complements, definitely their a. income elasticity’s are negative b. income elasticity’s are positive. c. cross elasticity’s are positive. d. cross elasticity’s are negative. 18 If a rise in the price of good 1 decreases the quantity of good 2 demanded, a. the cross elasticity of demand is negative b. good 1 is an inferior good. c. good 2 is an inferior good d. the cross elasticity of demand is positive. 9 The price elasticity of demand generally tends to be: a. smaller in the long run than in the short run. b. smaller in the short run than in the long run. c. larger in the short run than in the long run. d. unrelated to the length of time. 20 The demand for your services becomes more elastic. (a)True (b)False Answers for Self Assessment Questions 1 (a) 2 (c) 3 (b) 6 (d) 7 (a) 8 (a) 11(b) 12(a) 13(b) 16(c ) 17(d) 18(a) 4 (b) 9 (a) 14(b) 19(b) 5 (b) 10 (a) 15(b) 20(a) Chapter-8 PRODUCTION DECISION 1 Which of the following functions is not a core function of an organisation? a. The product/service development function b.The operations function c. The accounting and finance function d. The marketing (including sales) function 2 Most operations produce a mixture of both products and services. Which of the following businesses is closest to producing â€Å"pure† services? a. IT company b. A Restaurant c. Counsellor/therapist d. Steel company 3 Operations can be classified according to their volume and variety of production as well as the degree of variation and visibility. Which of the following operations would be classified as high volume, low variety? a. A family doctor b. A carpenter c. A front office bank d.A fast food restaurant 4 Which of the following activities is not a direct responsibility of operations management? a. Designing the operation’s products, services a nd processes b. Planning and controlling the operation c. Developing an operations strategy for the operation d. Determining the exact mix of products and services that customers will want 5 Operations can be classified according to the degree of variation in demand and visibility of the operation as well as their volume and variety of production. Which of the following operations would be classified as high variation and high visibility? a. A front office bank b.A family doctor c. A fast food restaurant d. A carpenter 6 The production function incorporates the technically efficient method of †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. a. production. b. process c. function d. All of these 7 A fixed input is one whose quantity cannot be varied during the time under consideration. (a)True (b)False 8 Economists find it convenient to distinguish between the †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. and the long run. a. short run b. large run c. big run d. None of these 9 The law of variable proportions states th at as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline. a)True (b)False 10 MRP stands for a. Marginal Revenue Product b. Marginal Revenue process c. Both (a) and (b) d. None of these 11 The book value of old equipment is not a relevant cost in a decision. (a)True (b)False 12. One of the dangers of allocating common fixed costs to a product line is that such allocations can make the line appear less profitable than it really is. (a)True (b)False 13. A differential cost is a variable cost. (a)True (b)False 14. All future costs are relevant in decision making. (a)True (b)False 15. Variable costs are always relevant costs. (a)True (b)False 6 Only the variable costs identified with a product are relevant in a decision concerning whether to eliminate the product. (a)True (b)False 17 Managers should pay little attention to bottleneck operations because they have limited capacity for producing output. (a)Tr ue (b)False 18 A cost that does not affect a decision is called an a. opportunity cost b. incremental cost c. avoidable cost d. irrelevant cost 19. Costs that change between alternatives are called a. fixed costs. b. opportunity costs. c. crelevant costs. d. sunk costs. 20. A cost incurred in the past that cannot be changed by any future action is a(n) a. pportunity cost b. sunk cost c. relevant cost d. avoidable cost Answers for Self Assessment Questions 1 (c) 2 (c) 3 (d) 6 (a) 7 (a) 8 (a) 11(a) 12(a) 13(b) 16(b) 17(b) 18(d) 4 (d) 9 (a) 14(b) 19(c) 5 (b) 10 (a) 15(b) 20(b) Chapter-9 ISOQUANT AND PRODUCTION FUNCTION 1 Economists typically assume that the owners of firms wish to a. produce efficiently. b. maximize sales revenues. c. maximize profits. d. All of these. 2 Efficient production occurs if a firm a. cannot produce its current level of output with fewer inputs. b. given the quantity of inputs, cannot produce more output. c. maximizes profit. d. All of the above. Limited liab ility is a benefit to a. sole proprietorships. b. partnerships. c. corporations. d. all of the above. 4 Which of the following statements best describes a production function? a. the maximum profit generated from given levels of inputs b. the maximum level of output generated from given levels of inputs c. all levels of output that can be generated from given levels of inputs d. all levels of inputs that could produce a given level of output 5 With respect to production, the short run is best defined as a time period a. lasting about six months. b. lasting about two years. c. in which all inputs are fixed. d. n which at least one input is fixed. 6 In the long run, all factors of production are a. variable. b. fixed. c. materials. d. rented. 7 The short-run production functions for Albert’s Pretzels. The marginal productivity of labor equals the average productivity of labor a. for all levels of labor. b. at none of the levels of labor. c. only for the first worker. d. only fo r the fifth worker. 8 the short-run production function for Albert’s Pretzels. The law of diminishing marginal productivity a. appears with the second worker. b. has not yet appeared for any of the levels of labor. c. first appears with the fifth worker. d. s refuted by this evidence. 9 If the average productivity of labor equals the marginal productivity of labor, then a. the average productivity of labor is at a maximum. b. the marginal productivity of labor is at a maximum. c. Both A and B above. d. Neither A nor B above. 10 Average productivity will fall as long as a. marginal productivity is falling. b. it exceeds marginal productivity. c. it is less than marginal productivity. d. the number of workers is increasing. 11 Factors of production are a) inputs and outputs. b) outputs only c) inputs only d) the minimum set of inputs that can produce a certain fixed quantity of output. 2 The set of all pairs (z1, z2) of inputs that yield the output y is the y-is quant. (a)True (b)False 13 L-shaped isoquants imply that production requires that the inputs are perfect substitutes. a. are imperfect substitutes. b. cannot be used together. c. must be used together in a certain proportion. d. None of these 14 Isoquants that are downward-sloping straight lines imply that the inputs a. are perfect substitutes. b. are imperfect substitutes. c. cannot be used together. d. must be used together in a certain proportion. 15 Isoquants that are downward-sloping straight lines exhibit a. n increasing marginal rate of technical substitution. b. a decreasing marginal rate of technical substitution. c. a constant marginal rate of technical substitution. d. a marginal rate of technical substitution that cannot be determined. 16 The profit maximization firm will choose the least cost combination of factors to produce at any given level of output. (a)True (b) False 17 The production function is useful in deciding on the additional value of employing a variable input in the pro duction process. (a)True (b) False 18 The additional use of an input factor should be stopped when its marginal revenue productivity just equals its price. a)True (b) False 19 The least cost combination of-factors or producer’s equilibrium is now explained with the help of †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. curves and iso costs. a. iso product b. iso process c. Both(a) and (b) d. None of these 20 MRTS stands for†¦Ã¢â‚¬ ¦.. a. Marginal rate of technical structure b. Marginal rate of technical substitution c. Both(a) and (b) d. None of these Answers for Self Assessment Questions 1 (d) 2 (d) 3 (c) 6 (a) 7 (c) 8 (a) 11(c) 12(a) 13(c) 16(a) 17(a) 18(a) 4 (b) 9 (a) 14(a) 19(a) 5 (d) 10 (b) 15(c) 20(b) Chapter-10 THEORY OF COST 1 The cost of capital is critically important in finance. a)True (b)False An implicit cost is a. the cost of giving up an alternative b. the cost of a chosen alternative c. calculated by subtracting the monetary cost. d. none of the above 3 The historical co st of an asset refers to the actual cost incurred at the time the asset was acquired. (a)True (b) False 4 An Explicit cost is a business expense accounted cost that can be easily identified such as wage, rent and materials. (a)True (b) False 5 Private is the cost that has to be paid by an individual who is directly involved in the production or consumption of a particular good. a)True (b) False 6 Social cost or external cost is not the cost burden carried by individuals who are not directly involved in the production or consumption of that particular good (a)True (b) False 7 Average cost is the sum total of Average variable it and average fixed cost. (a)True (b) False 8 Cost-output relationship facilitates many managerial relationships such as: a. Formulating the standards of operations. b. Formulating the rational policy on plant size. c. Formulating a policy of profit prediction. d. All of these 9 Cost in the short-run can be classified into†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦and variable cost. a. fixed cost b. sset c. both (a) and (b) d. None of these 10 Total fixed costs remained fixed irrespective of increase or decrease in production of activity. (a)True (b) False 11 Marginal costs is the change in total cost resulting from unit change in†¦Ã¢â‚¬ ¦.. a. output b. input c. both(a) and (b) d. None of these 12 The †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. implies that the cost of production continues to be low till the firm reaches the optimum scale (Marginal cost = Average cost). a. V-shape b. Q-shape c. U-shape d. All of these 13 Scale economies and returns to scale generally produce a U-shaped long-run average cost curve, such as the one displayed to the right. a) True (b) False 14 __________ is concerned with the branch of economics relating the behavior of principals and their agents. a. Financial management b. Profit maximization c. Agency theory d. Social responsibility 15 A concept that implies that the firm should consider issues such as protecting the consumer, paying fair wag es, maintaining fair hiring practices, supporting education, and considering environmental issues. a. Financial management b. Profit maximization c. Agency theory d. Social responsibility 16 Which of the following is not normally a responsibility of the treasurer of the modern corporation but rather the controller? . Budgets and forecasts b. Asset management c. Investment management d. Financing management 17 The __________ decision involves determining the appropriate make-up of the righthand side of the balance sheet. a. asset management b. financing c. investment d. capital budgeting 18 A long-run is also expressed as a series of short-runs. (a)True (b)False 19 Which of the following are used in calculating opportunity costs? a. monetary costs b. the cost of time c. preference d. all of the above 20 An explicit cost is a. the cost of giving up an alternative b. the cost of a chosen alternative c. alculated by subtracting the monetary cost of an alternative by the time invested d. none of the above Answers for Self Assessment Questions 1 (a) 2 (a) 3 (a) 6 (b) 7 (a) 8 (d) 11(a) 12(c) 13(a) 16(a) 17(b) 18(a) 4 (a) 9 (a) 14(c) 19(d) 5 (a) 10 (a) 15(d) 20(b) Chapter-11 MARKET STRUCTURE, AND PRICING 1 Which of the following cannot be classed as a market structure? a. Oligopoly. b. Perfect competition. c. Communism. d. Monopolistic competition. 2 Income and population are two variables that can be used in ______ segmentation: a. psychographic b. demographic c. lifestyle d. behavioural 3 Strong exchange rates can: a. help stimate consumer purchasing power. b. help predict change in lifestyle across Europe. c. predict the evolution of sales for particular brands. d. drive imports to become cheaper. 4 BERI stands for: a. Business Economic Risk Index. b. Business Economic Rating International. c. Business Education Rating Indicator. d. Business Environment Risk Index. 5 The size and liquidity requirements are based on the minimum invest ability requirements for the MS CI Global Standard Indices. (a) True (b) False 6 Oligopoly is a market structure in which a small number of firms account for the whole industry’s output. (a) True (b) False The number of firms and product differentiation are extremely crucial in determining the nature of competition in a market. (a) True (b) False 8 type of market structure represented by the constant returns to scale (CRS) technology includes a. Monopolistic competition b. Oligopoly c. Duopoly d. Perfect competition 9 In industries in which there are scale economies, the variety of goods that a country can produce is constrained by a. the fixed cost b. the size of the labor force c. the marginal cost d. the size of the market 10 A monopoly firm engaged in international trade but enjoying a protected home market will a. quate marginal costs with foreign marginal revenues. b. equate marginal costs with marginal revenues in both domestic and foreign markets c. equate average costs in local and foreign markets d. none of the above 11 Minimum efficient scale of production in relation to the overall industry output and market requirement sometimes play a major role in shaping the market structure. (a)True (b) False 12 Price and output decisions of firms that want to maximize profits always depend on costs. (a) True (b) False 13 Which of the following is NOT a financial objective of pricing? a. Corporate growth. b.Return on investment. c. Profit maximization. d. None of these 14 Which of the following is NOT a marketing objective? a. Cash flow. b. Positioning. c. Volume sales. d. None of these 15 Setting a price below that of the competition is called: a. Skimming. b. Penetration pricing. c. Competitive pricing. d. None of these 16 Which of the following is NOT a reason for cutting prices? a. Capacity utilisation. b. Increasing profit margins. c. Market defence. d. None of these 17 Which of the following is NOT a reason for increasing prices? a. Cost pressures. b. Price comparison. c. Curbin g demand. d.None of these 18 The costs that depend on output in the short run are: a. both total variable costs and total costs. b. total costs only. c. total fixed cost only. d. total variable costs only 19 A firm will shut down in the short run if: a. fixed costs exceed revenues. b. total costs exceed revenues. c. it is suffering a loss. d. variable costs exceed revenues. 20 In the long run, every cost is variable cost. In this period, all costs ever incurred by the firm must be recovered. (a)True (b) False Answers for Self Assessment Questions 1 (c) 2 (b) 3 (d) 6 (a) 7 (a) 8 (d) 11(a) 12(a) 13(a) 16(b) 17(b) 18(a) (d) 9 (d) 14(a) 19(d) 5 (a) 10 (b) 15(b) 20(a) Chapter-12 PERFECT COMPETITION 1. A perfectly competitive firm will maximize profit at the quantity at which the firm's marginal revenue equals a. price b. average revenue c. total cost d. marginal cost 2 Which of the following is not a valid option for a perfectly competitive firm? a. Increasing its output. b. Decreasing i ts output. c. Increasing its price. d. Increasing its resources. 3 In the long run, a perfectly competitive firm will achieve all but which of the following: a. Economic profit b. Allocative Efficiency c. Productive Efficiency d.Normal profit 4 If the price a firm receives for its product is equal to the marginal cost of producing that product, the firm is: a. Always earning an economic profit b. Always productively efficient. c. Always allocatively efficient. d. Always experiencing an economic loss. 5 A firm that is producing at the lowest possible average cost is always: a. Earning an economic profit. b. Productively efficient. c. Dominating the other firms in the market. d. Not producing enough output. 6 Which of the following is the best example of a perfectly competitive market? a. diamonds b. athletic shoes c. soft drinks d. arming 7 Perfect competition is an industry with a. a few firms producing identical goods. b. many firms producing goods that differ somewhat. c. a few fi rms producing goods that differ somewhat in quality. d. many firms producing identical goods. 8 In a perfectly competitive industry, there are a. many buyers and many sellers. b. many sellers, but there might be only one or two buyers. c. many buyers, but there might be only one or two sellers. d. one firm that sets the price for the others to follow. 9 In perfect competition, the product of a single firm a. is sold to different customers at different prices. b. as many perfect complements produced by other firms. c. has many perfect substitutes produced by other firms. d. is sold under many differing brand names. 10 In perfect competition, restrictions on entry into an industry a. do not exist. b. apply to labor but not to capital. c. apply to both capital and labor. d. apply to capital but not to labor. 11 Price for a firm under monopolistic competition is ______. a. equal to marginal revenue b. greater than marginal revenue c. less than marginal revenue d. greater than total reve nue 12 In the long run, monopolistically competitive firms tend to experience ______. a. high economic profits b. ero economic profits c. negative economic profits d. substantial economic losses 13 Marginal revenue for a monopolist is ______ a. equal to price b. greater than price c. less than price d. equal to average revenue 14 Perfect competitions describes a market structure whose assumptions are extremely strong and highly unlikely to exist in most real-time and real-world markets. (a)True (b) False 15 Monopolistic competition is a market structure characterized by a large number of relatively small firms. (a)True (b) False 16 A monopolist can sell more of his output only at a lower price and can reduce the sale at a high price. a)True (b) False 17 A monopoly is a market structure in which there is not only one producer/seller for a product. (a)True (b) False 18 A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marg inal cost. (a)True (b) False 19 A perfectly competitive firm faces †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. production alternatives based on a comparison of price, average total cost, and average variable cost. a. four short-run b. three short-run c. five short-run d. All of these 20 A perfectly competitive firm’s marginal cost curve that lies above the †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. of the average variable cost curve is its supply curve. . minimum b. maximum c. both(a) and (b) d. None of these Answers for Self Assessment Questions 1 (d) 2 (c) 3 (a) 6 (d) 7 (d) 8 (a) 11(a) 12(b) 13(a) 16(b) 17(b) 18(a) 4 (c) 9 (c) 14(a) 19(b) 5 (b) 10 (a) 15(a) 20(a) Chapter-13 OLIGOPOLY AND PRICING STRATEGIES 1 A price- and quantity-fixing agreement is known as: a. game theory. b. price leadership. c. collusion. d. price concentration. 2 A group of firms that gets together to make price and output decisions is called: a. a cartel. b. price leadership. c. an oligopoly. d. a concentrated industry 3 Products produced by oligopolistic ? rms are: a. Homogeneous. b. Heterogeneous. . Differentiated. d. Heterogeneous or differentiated. 3 Oligopoly is the only market structure characterized by: a. Interdependence in pricing and output decisions. b. Differentiated products. c. Barriers to entry. d. Pro? t-maximizing behavior. 4 Oligopoly is characterized by all of the following except: a. A few large ? rms. b. Differentiated product. c. Difficult entry into the industry. d. Price competition 5 A major threat to longer term profits exists when barriers to entry into an industry are high. (a)True (b) False 6 Under kinked demand theory the prices of oligopolists are predicted to be rather rigid or ‘sticky'. a)True (b) False 7 In contestable markets, large oligopolistic firms end up behaving like: a. a monopoly. b. monopolistically competitive firms. c. a cartel. d. perfectly competitive firms 8 Which of the following types of oligopoly competition would you expect to result in the highest market out put, other things equal? a. b. c. d. Stackelberg. Bertrand. Cornet. Collusion 9 The demand curve has a kink at the price which is equal to full cost price. (a) True (b) False 10. An pro? t maximizing, oligopolistic firms produces at an output level where: a. P = ATC. b. MR = MC. c. MR = ATC. d. AVC > MR. e.P = MR 11 Cartels are most likely to arise in which of the following market structures? a. Perfect competition. b. Monopolistic Competition. c. Oligopoly. d. Monopoly. 12 A cartel is a formal collusive organization of the oligopoly firms in an industry. (a) True (b) False 13 Needs such as training the group, setting standards and maintaining discipline, and appointing sub-leaders may be called: a. team functions. b. work functions. c. individual functions. d. task functions. 14 The Hall and flitch model of the kinked demand curve is based on an empirical survey of a sample of 38 well managed arms in England. a) True (b) False 15 The model uses the analytical tools of reaction func tions of the duopolists derived on the basis of is not profit curves. (a) True (b) False 16 The important models of non-collusive oligopoly are: (a) Cournot model, (b) Kinked Oligopoly demand curve models. (a) True (b) False 17 Which of the following is not an operations strategy? a. response b. low-cost leadership c. differentiation d. technology 18 Which of the following is not one of the leadership styles identified in House’s pathgoal theory? a. Participative. b. Employee-centered. c. Directive. d. Achievement-oriented. 9 The petroleum industry is an example of a. monopolistic competition. b. pure oligopoly. c. duopoly. d. differentiated oligopoly. 20 The kinked demand curve model assumes that a. firms match price increases, but not price cuts. b. demand is more elastic for price cuts than for price increases. c. changes in marginal cost can never lead to changes in market price. d. None of the above is correct. Answers for Self Assessment Questions 1 (c) 2 (a) 3 (d) 6 (b ) 7 (a) 8 (b) 11(b) 12(c) 13(a) 16(a) 17(d) 18(b) 4 (a) 9 (b) 14(a) 19(b) 5 (d) 10 (a) 15(b) 20(d) Chapter-14 PROFIT ANALYSIS 1.A variable cost is a cost that a. varies per unit at every level of activity b. occurs at various times during the year c. varies in total in proportion to changes in the level of activity d. may not be incurred, depending on management's discretion 2. A cost which remains constant per unit at various levels of activity is a a. variable cost b. fixed cost c. mixed cost d. manufacturing cost 3. A fixed cost is a cost which a. varies in total with changes in the level of activity b. remains constant per unit with changes in the level of activity c. varies inversely in total with changes in the level of activity d. emains constant in total with changes in the level of activity 4. Cost behavior analysis is a study of how a firm's costs a. relate to competitors' costs b. relate to general price level changes c. respond to changes in activity levels within the co mpany d. respond to changes in the gross national product 5. Cost behavior analysis applies to a. retailers b. wholesalers c. manufacturers d. all entities 6. The relevant range of activity refers to the a. geographical areas where the company plans to operate b. activity level where all costs are curvilinear c. levels of activity over which the company expects to operate d. evel of activity where all costs are constant 7. Which of the following is not a plausible explanation of why variable costs often behave in a curvilinear fashion? a. Labor specialization b. Overtime wages c. Total variable costs are constant within the relevant range d. Availability of quantity discounts 8. Firms operating constantly at 100% capacity a. are common b. are the exception rather than the rule c. have no fixed costs d. have no variable costs 9. Which one of the following is a name for the range over which a company expects to operate? a. Mixed range b. Fixed range c. Variable range d.Relevant range 10 The graph of variable costs that behave in a curvilinear fashion will a. approximate a straight line within the relevant range b. be sharply kinked on both sides of the relevant range c. be downward sloping d. be a stair-step pattern 11. A mixed cost contains a. a variable cost element and a fixed cost element b. both selling and administrative costs c. both retailing and manufacturing costs d. both operating and non-operating costs 12. The variable costing method is also known as the direct costing method indirect costing approach absorption costing method period costing approach 13.The costing approach that charges all manufacturing costs to the product is referred to as a. variable costing b. contribution margin costing c. direct costing d. absorption costing 14. Variable costing is acceptable for a. financial statement purposes b. profit tax purposes c. internal use by management only d. profit tax purposes and for internal use by management 15. CVP analysis does not consider a. level of activity b. fixed cost per unit c. variable cost per unit d. sales mix 16. Which of the following is not an underlying assumption of CVP analysis? a. Changes in activity are the only factors that affect costs b.Cost classifications are reasonably accurate c. Beginning inventory is larger than ending inventory d. Sales mix is constant 17. Which of the following would not be an acceptable way to express contribution margin? a. Sales minus variable costs b. Sales minus unit costs a. b. c. d. c. d. Unit selling price minus unit variable costs Contribution margin per unit divided by unit selling price a. b. c. d. 18. The level of activity at which total revenues equal total costs is the variable point fixed point semi-variable point break-even point 19. The break-even point is where a. otal sales equals total variable costs b. contribution margin equals total fixed costs c. total variable costs equal total fixed costs d. total sales equals total fixed costs 20. Gross profit also includes rent that arises from the entrepreneur’s own land used in his production of output. a. True b. False Answers for Self Assessment Questions 1. (c) 2. (a) 3. (d) 4. (c) 7. (c) 8. (b) 9. (d) 10. (a) 11. (a) 14. (c) 15. (b) 16. (b) 17. (b) 18. (d) 5. (d) 12. (a) 19. (b) 6. (c) 13. (d) 20. (a) Chapter-15 1. There are †¦Ã¢â‚¬ ¦. methods which can be used to appraise any investment project: (a) 1 (b) 2 (c) 3 (d) 4 2.National income is the total of the value of the goods and the services which are produced in an economy. (a) True (b) False 3. Which two of the following are likely to raise the equilibrium value of National Income? (a) Rise in savings. (b) Rise in imports. (c) Rise in government spending. (d) Rise in exports. 4. Which two of the following are excluded when measuring National Income? (a) Value added in the output method. (b) Value of intermediate inputs in the output method. (c) Consumer spending in the expenditure method. (d) Transfer payments in the income method. 5.The return on an investment comes in the form of a stream of earnings in the future. (a) True (b) False 6. Cost-benefit analysis is a process for evaluating the merits of a particular project or course of action in a systematic and rigorous way. (a) True ` (b) False 7. ‘Real’ investment is not (a) the amount that shareholders are willing to provide for shares in a company (b) the cost of development of a new product (c) expenditure on public relations, staff training or research and development (d) expenditure on non-current assets such as plant, machinery, land and buildings 8.Which of the following statements about IRR and NPV is not correct? (a) NPV always gives the correct investment decision. (b) IRR gives an unreliable answer with non-conventional projects. (c) IRR can accommodate changes in the cost of capital. (d) IRR is a useful relative measure if comparing projects of differing sizes. 9. Gross Domestic Product (GDP) is the total market value of all final goods and services currently produced within the domestic territory of a country in a year. (a) True (b) False 10. Which of the following will not be a relevant factor when using the payback method of capital investment appraisal? a) The timing of the first cash inflow (b) The total cash flows generated by the asset (c) The cash flows generated by the asset up to the payback period (d) The cost of the asset 11. Why the payback method is often considered inferior to discounted cash flow in capital investment appraisal? (a) I is more difficult to calculate (b) It does not calculate how long it will take to recoup the money invested (c) It does not take account of the time value of money (d) It only takes into account the future income of a project 12.Gross National Product is the total market value of all final goods and services produced in a year. (a) True (b) False 13. In 2005†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. was the least significant liability of U. S. nonfinancial businesses i n terms of total value. (a) bonds and mortgages (b) bank loans (c) inventories (d) trade debt 14. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. are examples of financial intermediaries. (a) Commercial banks (b) Insurance companies (c) Investment companies (d) All of the above 15. Financial assets †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. a) directly contribute to the country's productive capacity (b) indirectly contribute to the country's productive capacity (c) contribute to the country's productive capacity both directly and indirectly (d) do not contribute to the country's productive capacity either directly or indirectly 16. The means by which individuals hold their claims on real assets in a welldevelopedeconomy are (a) investment assets. (b) depository assets. (c) derivative assets (d) financial assets 17. Capital budgeting is the process of evaluating and selecting long-term investments that are consistent with the goal of the firm. a) True (b) False 18. Although derivatives can be used as speculative instru ments, businesses most often use them to (a) attract customers. (b) appease stockholders. (c) offset debt. (d) hedge 19. The investment in fixed assets increases the fixed cost of the firm which must be recovered from the benefit of the same project. (a)True (b) False 20. National Income is defined as the sum total of all the goods and services produced in a country, in a particular period of time. (a) True (b) False Answer 1. (c) 2. (a) 3. (c) 4. (b) 5. (a) 6. (a) 7. (a) 8. (c) 9. (a) 10. (b) 11. (c) 12. (a) 13. (b) 14. (d) 15. b) 16. (d) 17. (a) 18. (d) 19. (a) 20. (a) Chapter-16 1. In period of inflation, phantom or paper profits may be reports as a result of using the: (a) FIFO costing assumption (b) Perpetual inventory method (c) LIDO costing assumption (d) Periodic inventory method 2. Inflation is: (a) an increase in the overall price level. (b) an increase in the overall level of economic activity. (c) a decrease in the overall level of economic activity. (d) a decrease in th e overall price level. 3. Aggregate supply is the total amount: (a) produced by the government. (b) of goods and services produced in an economy. c) of labour supplied by all households. (d) of products produced by a given industry. 4. The value of a dollar does not stay constant when there is inflation. (a) True (b) False 5. The inflation rate in India was recorded at 7. 23% in†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ (a) April of 2009 (b) April of 2010 (c) April of 2011 (d) April of 2012 6. The function of money that helps assess the opportunity cost of an activity is money's use as a (a) medium of exchange. (b) store of value. (c) unit of account. (d) store of debt. 7. An official measure of money in the United States is M1, which consists of the sum of (a) currency plus traveler's checks. b) currency plus checkable deposits. (c) currency plus traveler's checks plus checkable deposits. (d) currency plus traveler's checks plus time deposits. 8. Implies no trade-off between unempl oyment and inflation. (a) GDP deflator (b) Shoe leather’ costs (c) Long-run Phillips curve (d) ‘Menu’ costs 9. The inflation rate is used to calculate the real interest rate, as well as real increases in wages. (a) True (b) False 10†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ the quantity of money in the United States. (a) The State Department controls (b) The Department of Treasury controls (c) The Federal Reserve System controls (d) Commercial banks control 11.There are broadly †¦.. ways of controlling inflation in an economy. (a) 2 (b) 3 (c) 4 (d) 5 12. The balance of payments of a country is said to be in equilibrium when the demand for foreign exchange in exactly equivalent to the supply of it. (a) True (b) False 13. A general decline in prices is often caused by a reduction in the supply of†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. (a) money or debit (b) money or credit (c) money (d) None of these 14. The opportunity cost of holding money is the (a) inflation rate minus th e nominal interest rate. (b) nominal interest rate. (c) real interest rate. (d) unemployment rate. 15.If the Fed is worried about inflation and wants to raise the interest rate, it (a) increases the demand for money. (b) increases the supply of money. (c) decreases the demand for money. (d) decreases the supply of money. 16. The circular flow of goods and incomes shows the relationship between: (a) income and money. (b) goods and services. (c) firms and households. (d) wages and salaries. 17. Fiscal measures to control inflation include taxation, government expenditure and public borrowings. (a) True (b) False 18. Hyperinflation (a) occurs in the United States during each business cycle. b) occurs only in theory, never in reality. (c) has never occurred in the United States. (d) happens in all countries at some time during their business cycle. 19. Hyperinflation refers to a situation where the prices rise at an alarming high rate. (a) True (b) False 20. The inflation rate is used t o calculate the real interest rate, as well as real increases in wages. (a)True (b) False Answer 1. (b) 2. (a) 3. (b) 4. (a) 11. (a) 12. (a) 13. (b) 14. (c) 5. (d) 6. (c) 15. (d) 16. (c) 7. (c) 8. (c) 17. (a) 18. (c) 9. (a) 10. (c) 19. (a) 20. (a)