Italian Verb Conjugations Festeggiare

In Italian, festeggiare means to celebrate. Regular  first-conjugation Italian verbTransitive verb (takes a  direct object) INDICATIVE/INDICATIVO Presente io festeggio tu festeggi lui, lei, Lei festeggia noi festeggiamo voi festeggiate loro, Loro festeggiano Imperfetto io festeggiavo tu festeggiavi lui, lei, Lei festeggiava noi festeggiavamo voi festeggiavate loro, Loro festeggiavano Passato Remoto io festeggiai tu festeggiasti lui, lei, Lei festeggi noi festeggiammo voi festeggiaste loro, Loro festeggiarono Futuro Semplice io festegger tu festeggerai lui, lei, Lei festegger noi festeggeremo voi festeggerete loro, Loro festeggeranno Passato Prossimo io ho festeggiato tu hai festeggiato lui, lei, Lei ha festeggiato noi abbiamo festeggiato voi avete festeggiato loro, Loro hanno festeggiato Trapassato Prossimo io avevo festeggiato tu avevi festeggiato lui, lei, Lei aveva festeggiato noi avevamo festeggiato voi avevate festeggiato loro, Loro avevano festeggiato Trapassato Remoto io ebbi festeggiato tu avesti festeggiato lui, lei, Lei ebbe festeggiato noi avemmo festeggiato voi aveste festeggiato loro, Loro ebbero festeggiato Future Anteriore io avr festeggiato tu avrai festeggiato lui, lei, Lei avr festeggiato noi avremo festeggiato voi avrete festeggiato loro, Loro avranno festeggiato SUBJUNCTIVE/CONGIUNTIVO Presente io festeggi tu festeggi lui, lei, Lei festeggi noi festeggiamo voi festeggiate loro, Loro festeggino Imperfetto io festeggiassi tu festeggiassi lui, lei, Lei festeggiasse noi festeggiassimo voi festeggiaste loro, Loro festeggiassero Passato io abbia festeggiato tu abbia festeggiato lui, lei, Lei abbia festeggiato noi abbiamo festeggiato voi abbiate festeggiato loro, Loro abbiano festeggiato Trapassato io avessi festeggiato tu avessi festeggiato lui, lei, Lei avesse festeggiato noi avessimo festeggiato voi aveste festeggiato loro, Loro avessero festeggiato CONDITIONAL/CONDIZIONALE Presente io festeggerei tu festeggeresti lui, lei, Lei festeggerebbe noi festeggeremmo voi festeggereste loro, Loro festeggerebbero Passato io avrei festeggiato tu avresti festeggiato lui, lei, Lei avrebbe festeggiato noi avremmo festeggiato voi avreste festeggiato loro, Loro avrebbero festeggiato IMPERATIVE/IMPERATIVO Presente — festeggia festeggi festeggiamo festeggiate festeggino INFINITIVE/INFINITO Presente festeggiare Passato avere festeggiato PARTICIPLE/PARTICIPIO Presente festeggiante Passato festeggiato GERUND/GERUNDIO Presente festeggiando Passato avendo festeggiato

Role of the Internet and Crime - 1140 Words

Role of the internet and crime The Role of the Internet and Crime The Role of the Internet and Crime Michelle Herrick Digital Crime and Digital Terrorism Strayer University Professor Masudur Chowdhury Prepared- 02/16/2013 ` The Role of the Internet and Crime Explain how the Internet has aided criminal activity. The internet has aided to criminal activity by providing an increased amount of anonymity for the criminal. They are able to commit crimes from long distances even from other countries. Most people feel protected because they are not physically near the person they are committing the crime against. Computer related crimes have become prevalent in recent years as many aspects of human life are consumed by†¦show more content†¦Because of inexpensive camera equipment and web cams on personal computers it has made pedophilia so much more accessible. Another crime that was traditionally non-digital was stalking. This is when a stranger follows an unsuspecting victim, normally a woman. They study their routines and habits on a regular basis. Most stalkers used binoculars, telescopes, video cameras, and hidden microphones and public records. Most stalking crime does not end in violence but the psychological trauma done to the victim is great. Victims tend to become paranoid, untrusting of others, and having the never ending feeling of someone always watching you. Now this crime has gone digital and is considered Cyber-stalking because people use the internet to make threats thru e-mail, chat rooms, bulletin boards and even on some websites. They can keep track of the person they are following by searching social networks, Google, and public records on-line. Again this behavior rarely ends in violence. The goal of the stalker ultimately is to have a relationship with the victim whether it is a positive one or not. Describe the role viruses, other malicious code, and phishing attacks play in aiding this criminal activity. Viruses operate in four primary environments, these include file, boot, macro, and network viruses. They use a particularShow MoreRelatedThe Role of the Internet and Crime971 Words   |  4 PagesThe Role of the Internet and Crime Strayer University Crime has been around for a long time and will probably never disappear. With the invention of many things such as the wheel, the tool helps criminals. The wheel helped the criminals get away faster which made it harder to catch them. Criminals will always look for ways to make their â€Å"job† easier. With the advancement of technology come the advanced criminals. The internet has become one of the biggest toolsRead MoreThe Internet: Aiding Criminal Activity743 Words   |  3 Pages1. Explain how the Internet has aided criminal activity. With the advent of any new technology must also come an added respect and responsibility for that technology. Todays world has been significantly modified over the past decade due the internet and the superconductivity this tool has provided to its users. As a result of this popularity, a criminal element has seeped within the confines of cyberspace to present new challenges for lawmakers and law enforcers everywhere, all the time. TheRead MoreThe Gender Differences in Particular Types of Crime Essay examples1198 Words   |  5 Pagesdifferences in particular types of crime. I intend to do this by using various books and the Internet to briefly explore burglary, prostitution and crime related to a violent nature. I also wish to include any graphs or statistics I may find of interest and relevance to this essay. It has been stated that the differences between men and women, and their upbringing, has greatly influenced the crimes they commit and whether they commit crimes at all. I personally feel that thisRead MoreCyber Crimes Reflected Through Television Programs800 Words   |  4 PagesCyber Crimes Reflected Through Television Programs Cybercrimes are a culture which has facilitated technological criminal efforts to undermine government and private organizations in order to create disruption and panic on a large scale. Today’s television programming takes a series of intelligence type action roles, which prove the impact of post 9/11. Computer crimes have increased nationwide fears. The television series 24 is an action drama featuring a make believe personality known as JackRead MoreTechnology And The Criminal Justice System1009 Words   |  5 Pageshave been significant advancements in technology which has in turn changed and increased the type of crimes in today’s society. With the new technology, the criminals are ready to exploit it. So therefore, the future direction of crime fighting and its role in social policy implication are geared toward the advancements of technology. For criminal justice system to intervene, deter, or prevent crimes, they must be equipped with the latest technologi es. Advancements to technology within the criminalRead More Computer Crime Essay1055 Words   |  5 Pagesstolen, most without detection, by the emerging master criminal of the twenty-first century--the computer crime offender. Worst of all, anyone who is computer literate can become a computer criminal. He or she is everyman, everywoman, or even every child. CHAPTER 1 INTRODUCTION To first understand computer crime one must understand first what crime is. According to Diana Kendall, crime is a behavior that violates criminal law and is punishable with fines, jail or other sanctions (KendallRead MoreThe Positive And Negative Effects Of Social Media701 Words   |  3 PagesGambling is now very much today. With networks available on social media, gamblers no longer go to special places and hide to fulfill their desires. This Internet call is known as net gaming. Net gaming is a similar condition to gambling addiction. For example, playing games, shopping. In fact, conduct buying and selling of shares via the Internet that interfere with the work as well, resulting in losses that lead people concerned on the stranglehold of debt. The second negative impact is health willRead MoreThis Research Will Explore A Wide Collection Of Literature927 Words   |  4 Pagesliterature in order to discover whether religion effectively prevents crime. It certainly differs from mainstream crime in that it attempts to seek the influences religion may have in committing or preventing criminal deviancy. The role of religion seems to be indistinguishable and is increasingly becoming an area of attention. This taken into account, makes the selected study engaging in that it investigates the impact of religion on crime. It is vital to gather views from a range of sources, which generallyRead MoreCyber Crimes, Moral And Ethical Implication1664 Words   |  7 PagesCyber Crimes, Moral and Ethical Implication Introduction The internet’s rapid growth and computer technology has helped people around the world over the past few years. This evolution has also enabled new forms of crime-dubbed cyber-crime. This phenomenon has greatly evoked feelings such as admiration and fear in people mind. Cyber-crime is defined as crimes committed on internet, with computers as the tool, Agathise E Joseph, June 28th 2006. It is not an â€Å"armed robbery†, not a murder but a practiceRead MoreCyber Security : The New Wave Of Social Media1604 Words   |  7 Pagesclicking keys. It’s no secret; this generation relies on their phones and the internet much like food and water. It’s a necessity. With the new wave of social media, which is being used by an alarming 78% of U.S. citizens, the internet is now a tool used by anyone and everyone (Statistics and Market Data on Cyber Crime). We are in the midst of an Internet evolution, with the internet expanding its boundaries and roles in our everyda y lives. You can do anything from complete a complex math problem

Sample Questions free essay sample

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 total 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 economics 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 ECONOMICS Multiple 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 individual 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 decision 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 Choic e 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. Pepsis 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 tapes. 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 qu antity 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 must 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 cha nges in expectations. (a)True (b) False 3 Quantity demand is a specific quantity that buyers 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 bottle 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 the 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 complements. (c) people search for substitutes. (d) income rises. (e) substitutes become complements. 18 The supply curve is upward-sloping be cause 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 elasticit y 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 $15, 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 commodity 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. t wo products are complementary goods. 19 A market without legal prices is in equilibrium when: a. quantity demanded equals price. b. the demand 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 pro duct 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 decrease 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 shor ter 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 o f 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 wont 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 q uantity 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 elasticity 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 equal 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 producers 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 mea sures the responsiveness of the quantity demanded of a particular good to changes in the prices of a. Its complements but not its substitutes. 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 and 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 that 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)True (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 liability 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 produ ction, 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 for 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 lab or 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 downwar d-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 production 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 stru cture 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 cost 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 indivi duals 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 = Av erage 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 wages, 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 appropr iate 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 MSCI 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. Duo poly 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. Curbing 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 firms 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 its 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 firms 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 bu yers. 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 revenue 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 monopolis t 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 marginal 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 output, 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 ou tput level where: a. P = ATC. b. MR = MC. c. MR = ATC. d. AVC gt; 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 functions 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 lea dership 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 managements 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 firms costs a. relate to competitors costs b. relate to general price level changes c. respond to changes in activity levels within the company d. respond to changes in the gross national product 5. Cost behavior analysis applies to a. retailers b. wholesalers c. manufa cturers 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 in 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 countrys productive capacity (b) indirectly contribute to the countrys productive capacity (c) contribute to the countrys productive capacity both directly and indirectly (d) do not contribute to the countrys 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) financia l 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 instruments, 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) Perio dic 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 the 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‚¬ ¦ (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 moneys 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 travelers checks. b) currency plus checkable deposits. (c) currency plus travelers checks plus checkable deposits. (d) currency plus travelers checks plus time deposits. 8. Implies no trade-off between unemployment 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 the 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 to 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)

The Elasticity of Oil Production and Consumption

Table of Contents Introduction Oil Demand Oil Supply Peak oil production Oil Price elasticity of supply Conclusion Works Cited Introduction Oil is one of the leading good consumed in the world. It is a commodity that is mostly traded at the global scene. Majority of countries in the world depend on this good for servicing their industries and for manufacturing. Oil is the major source of energy in the world. The case of fluctuation in prices of oil is a very common global phenomenon, with the rise in prices bringing a blame game.Advertising We will write a custom research paper sample on The Elasticity of Oil Production and Consumption specifically for you for only $16.05 $11/page Learn More When oil prices rise a lot of friction is witnessed with most governments blaming the international oil cartels, the citizens blaming the governments for not taking steps to regulate the prices of oil while other economists stand to argue that market forces are t he determining factors and hence no need for blaming one another. The effects of changing prices of oil have far reaching impacts to the global economy (Riley, para. 1). This paper explores the market forces in the oil market and how their elasticity affects the supply and demand of oil. Oil Demand The efficiency of energy, for instance oil can be established by measuring the energy quantity used per unit of the output attained. This is also referred to as energy intensity. It can also be established by comparing the increase in the rate of energy consumption and the rate of gross national product growth which roughly equals to the demand elasticity for energy (Amuzegar and Fonds monetaire international, p. 87). It is a fact that energy demands is at greater length unrelated to the price of energy that is in the short-run. However, in the long-run, resilient changes in prices of energy have a significant effect on the demand for the commodity (Natal, p.26) There exists a strong corr elation between oil and the rate at which the world economy grows because of the essentiality of oil as an input in industry. As the economy develops, demand for oil in the economy rises. For instance, China’s economy has grown very fast, and this growth has been accompanied by a rapid growth of the output of the country in sectors that consume a lot of energy. This has necessitated an upsurge in the demand for oil in the economy of China. This is referred to as cyclical demand (Riley, para. 3). The demand for oil can be also affected by the prices of oil substitute products, for instance the relative price of gas in the market. If more reliable and relatively cheap oil substitutes are developed, that is on a long term basis, the demand is most likely to shift away from oil to its substitutes. However, this is still at a wishful level. The changing seasons affect the demand for oil.Advertising Looking for research paper on business economics? Let's see if we can help yo u! Get your first paper with 15% OFF Learn More During the winter season in the United States and Canada, more energy is needed to run the heating systems both in houses and at the places of work thus the demand for oil rises (Riley, para. 4). There always exists a speculative demand for crude oil that is purchasers always do hope for an increase in oil prices in the world market. This has made many oil businessmen and corporations to invest in buying future oil contracts (Riley, para. 6). Oil Supply When the supply of oil is discussed, a crosscut line should be made between short and long term supply of oil to the global market. The curve indicating short run supply is drawn basing on a given technological state of production and the use of capital inputs in a fixed basis. In the daily supply of oil, a short-run limit is inevitable, but as production nears capacity limits, the short-run oil supply become elastic (Riley, para. 8). The short-run of oil supply is affected by a number of factors. Profit motives of both OPEC non–OPEC countries have a big impact on the supply of crude oil. OPEC accounts for approximately 40 percent of oil supply in the world while other countries account for the other percentage. It thus has a central influence in determination of prices of oil – that is when members act together to take charge of production and put to balance the market forces in the world market. The cartel sets quotas on the amount of crude oil they are to produce with the reason to stabilize oil price at a certain targeted level (Riley, para. 9). On the other hand, the long run supply of crude oil in the market is also influenced by certain factors. These are low oil reserves that results from depletion of the oil resources due to an ever increasing demand for the commodity. Exploration affects the supply of oil by the virtue of the investment in exploring new oil zones. Change in the technology of extracting oil affects the extraction co st and the profit levels of extraction and refining thus impacting on the supply of the commodity (Riley, para. 10). Most classical economic theorists on argue that a rise in demand for a good or service results in the rise in the price for that good. They further add that when prices of a commodity rise, more businessmen are attracted to invest in the production of the commodity. This leads to a surplus in production, thus resulting in a shrink in price as competition between manufacturers continue. However, these economics failed to consider their argument as it should be applied on a depleting good like oil, minerals and natural gas. The production and consumption of these commodities is relatively inelastic when other factors for example politics, cultural factors and environmental destruction are held constant. For these commodities the shifts in investment however huge the shift may be has no likelihood to lead to a correspondence rise in supply (Cooke, para.3).Advertising We will write a custom research paper sample on The Elasticity of Oil Production and Consumption specifically for you for only $16.05 $11/page Learn More The global oil market has been very inelastic to an extent that huge rises in upstream investment do not produce contemporaneous rise in supply anymore. Assuming that other factors remain constant, it takes a very long time to establish an oil field. Moreover, we have limited ability to bring newer production online thus. The limit is caused by political objectives of nations and the cultural constraints. An example is countries like Venezuela, Iraq or Nigeria where cultural economics has worked in any potential elasticity to decline due to local restrictions (Cooke, para.3). The efficiency of energy can be established by measuring the energy quantity used per unit of the output attained. This is also referred to as energy intensity. It can also be established by comparing the increase rate in energy cons umption and the rate of gross national product growth which roughly equals to the demand elasticity for energy (Amuzegar and Fonds monetaire international, p. 87). It is a fact that energy demand is unrelated to the price of energy that is, in the short-run. However, in the long-run, resilient changes in prices of energy have a significant effect on the demand for the commodity (Natal, p.26) Peak oil production After the mid 2008, the aggregate demand for oil declined due to very high prices. This is the time when the world recession was beginning. The oil price later collapsed. The demand for oil recovered in 2009. The sharp rise in price of oil followed and was accompanied by a sharp rise in commodities and services that utilize oil in its production (McGreal, p. 120). Oil Price elasticity of supply Price elasticity is the measure of the level to which production can rise to satisfy the rising demand. The increase in production is related to a rise in prices. If the supply of oil is inelastic, increased production is followed by a sharp rise in prices. It is presumed that the ceiling price of oil that we experience today is linked to the recovering demand that has come after the recession rising against a tighter supply. The sharpest recession was experienced more than seventy years ago (Natal, p. 27).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion Oil is a very important commodity that is widely consumed globally. Prices of oil have more often than not generated big debates and causing friction in some countries. The demand for oil keeps increasing. The demand and supply of oil is determined by numerous factors though there are some dominant factors that affect oil production and consumption. The elasticity of oil production and consumption is centrally impacted by the oil cartel that controls the production of oil in the world. Works Cited Amuzegar, Jahangir and Fonds moneÃŒ taire international. Oil exporters’ economic development in an interdependent world. Washington, D.C: International Monetary Fund. 2010. Cooke, Ron. â€Å"The elasticity of oil production and consumption†, Energy Bulletin, 2007. Web. McGreal, Ryan. Rising Gas Prices and the Unnameable Cause: Peak Oil, 2010. Web. http://raisethehammer.org/article/1234/rising_gas_prices_and_the_unnameable_cause Natal, Jean-Marc. Monetary Policy Re sponse to Oil Price Shocks. Zurich: Swiss National Bank, 2010. Print. Riley, Geoff. AS Markets Market Systems: Market for Oil. 2006. Web.. https://www.tutor2u.net/economics/reference/finite-and-renewable-resources This research paper on The Elasticity of Oil Production and Consumption was written and submitted by user Valentin Dunn to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Favorite Truck Essays - Transport, Pickup Trucks, Land Transport

Favorite Truck If I had to choose a truck I liked the most, I would definitely pick Chevrolet SIlverado. Chevys are my favourite trucks in general, but no truck is more rugged than the Chevy Silverado. Even though it has all of the roomy features that make SUVs a popular choice for families but they made it into a truck, its design and wheels and overall style make it attractive to the youth as well. The design elements of the Chevrolet Silverado are all made with style in mind. The mirrors are angled and blend into the curves of the vehicle. The windshield angle flows into the roof line seamlessly. The tall headlights have standard High Intensity Discharge (HID) lighting with an option to add the "IntelliBeam" system, which automatically adjusts the brightness of the headlight beams. The Chevrolet Silverado comes standard with 18 inch wheels, but also has the option to add 22 inch chrome wheels to the vehicle. The interior of the vehicle continues the theme of comfort combined with a highly stylized design. The dashboard and consoles are made of high quality vinyl, with instrument panel displays located in perfect vision lines for the driver. Seams for the assembly of the dashboard are constructed tightly and barely visible. The true beauty of the Chevrolet Silverado, however, comes in its power. It features a standard 6.0 litre V-8 engine in the HD trucks. Traction control, four wheel drive and four wheel disc brakes allow for a comfortable and powerful driving experience. The Chevrolet Silverado is well equipped to handle driving off road but versatile enough to be an effective city driving vehicle as well. The Chevrolet SIlverado is also versatile in its capacity. The Silverado can tow, offroad, and be a nice daily driver. These trucks also come in the Denali edition which comes with bigger chrome rims and some other features. The Chevrolet Silverado has also earned a four star safety rating from the U.S. government. Safety features include anti-lock brakes, front side airbags, side curtain airbags, and stability control.. The Chevrolet SIlverado is superior to other trucks because it combines all of the practicality of a traditional truck with the style of a luxury car. Neil Foulds

Chances Fat and Slim

Chances Fat and Slim Chances Fat and Slim Chances Fat and Slim By Maeve Maddox A reader wonders about two expressions: For many years I’ve wondered about Fat Chance and Slim Chance – both meaning â€Å"little chance,† but where’d they come from? The Ngram Viewer indicates that â€Å"slim chance† came along about eighty years earlier than â€Å"fat chance† and that â€Å"slim chance† is far more common in print than â€Å"fat chance.† A Google search shows the expressions in about equal use on the Web. One meaning of slim is â€Å"thin† or â€Å"slender,† but its meaning in â€Å"slim chance† is â€Å"meager, scanty, sparse.† I’d guess that the expression â€Å"fat chance† originated as a play on words. Both expressions are popular in titles for books and articles that have something to do with obesity or fitness. Slim Chance, Fat Hope: Societys Obsession With Thinness Slim Chance in a Fat World Fat Chance! The Weight Loss Workbook â€Å"Obese People Have Slim Chance of Obtaining Normal Body Weight† â€Å"Critics say mesotherapy offers slim chance† â€Å"Why dieters have fat chance of losing weight† Although many speakers share the reader’s idea that both expressions mean the same thing, the two have different meanings. If there’s a â€Å"slim chance† that something will happen, then there is a possibility, albeit a small one. That’s the meaning in this headline about the current movement of migrants: How much for a spot on a rubber raft and a slim chance at a better life?† â€Å"Fat chance† is an ironic way of saying there’s no chance at all, as in this exchange between a woman and a former boyfriend: I was just wondering - † â€Å" - if Id  come back to you  now?  Fat chance. Forget it.†    Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:45 Synonyms for â€Å"Food†50 Latin Phrases You Should KnowDrama vs. Melodrama

Essays Essay Example | Topics and Well Written Essays - 750 words - 3

Essays - Essay Example e, the inventions in the scientific era yielded no fruits till later years in subsequent revolutions; however, some inventions owe more to the revolutions than the vice-versa. The invention of the steam engine owes more to science than what science the steam engine. The correlation and dependency of the revolutions explain that the French revolution could be termed as the greatest in world history. Today, democracy can be regarded as the most appreciated system of governance. Democracy traces its foundation to the French revolution. Monarchism, aristocracy, and religious privileges were overthrown and in their place came democracy, liberalism, secularism and declaration of human rights and freedom. Enlightened absolutism can be defined as a form of absolute monarchism surviving on the foundation of enlightenment ideas. The Russian empress, Catherine the Great, governed on the ideals of enlightenment philosophers by the names of Beccaria, Montesquieu, and de Gouges. She depicted the characters of a monarch by imprisoning many of her opponents, declined the principle of a social contract and facilitated religious tolerance by advocacy of the Russian Orthodox Church to tolerate outsiders (Foran 23). Enlightenment could be termed as the world major intellectual revolution. It spread across boundaries but never affected all. People affected were primarily under monarchies, and thus those aristocrats were free from the effects of enlightenment. The aftereffects of enlightenment were both negative and positive. The positive ones included, advances in literacy levels among the citizenry and promoted open mindedness in regard to intellectual matters. The people, however, fell into the trap of intellectual frauds. For instance, physiognomists claimed to be able to forecast psychological characteristics, people got themselves gullible to such quack fields of knowledge primarily based on superstition. Other major, effects of enlightenment include, the invention of that the

Business Essay Example | Topics and Well Written Essays - 750 words - 5

Business - Essay Example On the other hand, if the employees fail to meet the expectation and goals of the leader, they are threatened with punishment and demotion or even termination of employment. Some of the leaders that practiced this kind of leadership included McCarthy and de Gaulle. Transformational leadership On the contrary, transformational leaders use different methods in motivating their followers. They use a shared vision and charisma to inspire the followers to forego their personal interest for the interests of the organization. The leaders transform and create dedication, confidence and the creative ways of solving the problem. This kind of leadership has been effective especially when the organization is undergoing challenges and problems. A transformational leader is not only the manager of day-day operations but also takes work team to the next level of success and performance. The leaders set targets and incentives to push their employees to a higher level of performance, as they create opportunities for personal and professional growth of employees. Some of the leaders who practiced such kind of leadership include Moses and F Kennedy. The advantage of this kind of leadership is that it brings faster development of small businesses since the leaders try to shoot ambitious goal which are achieved later through team building and the vision of the leader. Crucibles of Leadership According to the author, a crucible refers to experience that transforms and toughens people to thus giving them a new sense of motivation, purpose and identity. As it is mentioned, crucibles are like tests or trials that corners individuals and forcing them to answer questions about their identity and what is vital to them. Even though experience is important, what matters the most is how and what we learn from the experience. Most of the greatest leaders are the greatest learners since they know their motivations and aspirations. Great leaders have the characteristics of having the capacity to adapt and engage others through shared integrity. According to Bennis & Thomas, adaptive capacity is the ability to learn, adjust and change. The base of adaptive capacity is creativity, resilience, willingness to learn, openness to new form of experience and strong observational skills. In order to determine the capacity to adapt, one has to ask whether they are constantly looking for ways to improve the performance and one has gained knowledge about the different aspects of the organization. When it comes to engaging others, an interactive leader commands and enlists the team members. They exhibit the attributes of having emotional intelligence and communicate the sense of purpose According to Masi (2000), transformational leaders have some impacts on the motivation of employees and the performance of the entire organization. It has an impact on the commitment and creation of sense of vision and creates some mutual interest of leaders and followers. In reference to the article of Kamalanabhan and Sunder, it is generally believed that most the managers take more risks than others. Several researches have indicated that managers are both risk-seekers and risk-avoiders. In this article, Managers are mostly insensitive in estimation of the probabilities of the outcomes; some of their decisions are mainly affected by the way they focus on the targeted performance; and they make a quick distinction between gambling and taking risks.

Shaping the Character and Effect of Financial Services Regulation Essay

Shaping the Character and Effect of Financial Services Regulation - Essay Example For instance, it provides credit to support growth, provides the liquidity needed for the economy to function, and offers the important risk management services2. In its role of credit provision, financial institutions have fueled economic activity by allowing businesses to invest beyond their cash at hand, household to purchase homes without necessarily saving the entire cost in advance, and also allow the government to smoothen out their spending by mitigating the cyclical pattern of tax revenues and to invest in infrastructure development3. In its role of liquidity provision, financial institutions usually offer protection against the unexpected need for cash. They are usually the direct providers of liquidity both through offering demand deposits that can be withdrawn any time and by offering lines of credit4. They are also at the core of the financial markets, offering to buy and sell securities and related products at need, in large volumes, and with relatively modest transaction costs5. In its role of providing risk assessment services, financial institutions allow businesses and household to pool their risks from exposure to financial market and commodity price risks, which are usually provided through derivative transactions6. Even though they have often gotten a bad name due to excesses in the run-up to the financial crisis, they still offer valuable risk management services through their core derivative activities. Some activities and roles of financial institutions if remain unchecked can lead to excess funds that are created by these institutions. This necessitated the need for financial regulation.  

A military technology

A military technology CDMA is a military technology first used during World War II by English allies to foil German attempts at jamming transmissions. The allies decided to transmit over several frequencies, instead of one, making it difficult for the Germans to pick up the complete signal. Because Qualcomm created communications chips for CDMA technology, it was privy to the classified information. Once the information became public, Qualcomm claimed patents on the technology and became the first to commercialize it. Code Division Multiple Access technology emerged as an alternative to the GSM cellular architecture and has shared in the past decades explosive growth in the wireless market. CDMA, like GSM, has seen incremental improvements in capacity throughout this period. Now both types of networks are making a transition to third-generation (3G) systems around the globe, offering yet more capacity and data services. INTRODUCTION With the advent of wireless communication there was the advent of the two technologies for the cellular communication. They were the CDMA and the GSM technology. Both the technologies have their own mechanisms of working and their own pros and cons for which they have their own different utilizations and implications.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The technology on which our group has proposed to research is the CDMA (Code Division Multiple Access) technology. Though the total users of the CDMA technology around the globe are approximately 14% yet it has many advantages over the GSM technology which has enormous number of users. Actually the GSM technology is easy to manage and to handle rather than CDMA but that doesnt mean that it has got no future. Truly speaking the CDMA technology is the technology of the future. Gradually its gaining popularity in the European market. What is CDMA? CDMA (Code-Division Multiple Access) refers to any of several protocols used in so-called second-generation (2G) and third-generation (3G) wireless communications. As the term implies, CDMA is a form of multiplexing, which allows numerous signals to occupy a single transmission channel, optimizing the use of available bandwidth. The technology is used in ultra-high-frequency (UHF) cellular telephone systems in the 800-MHz and 1.9-GHz bands. CDMA employs analog-to-digital conversion (ADC) in combination with spread spectrum technology. Audio input is first digitized into binary elements. The frequency of the transmitted signal is then made to vary according to a defined pattern (code), so it can be intercepted only by a receiver whose frequency response is programmed with the same code, so it follows exactly along with the transmitter frequency. There are trillions of possible frequency-sequencing codes, which enhance privacy and makes cloning difficult. The CDMA channel is nominally 1.23 MHz wide. CDMA networks use a scheme called soft handoff, which minimizes signal breakup as a handset passes from one cell to another. The combination of digital and spread-spectrum modes supports several times as many signals per unit bandwidth as analog modes. CDMA is compatible with other cellular technologies; this allows for nationwide roaming. The original CDMA standard, also known as CDMA One and still common in cellular telephones in the U.S., offers a transmission speed of only up to 14.4 Kbps in its single channel form and up to 115 Kbps in an eight-channel form. CDMA2000 and wideband CDMA deliver data many times faster. Code Division Multiple Access (CDMA) is a digital air interface standard, claiming eight to fifteen times the capacity of traditional analog cellular systems. It employs a commercial adaptation of a military spread-spectrum technology. Based on spread spectrum theory, it gives essentially the same services and qualities as wireline service. The primary difference is that access to the local exchange carrier (LEC) is provided via a wireless phone. Though CDMAs application in cellular telephony is relatively new, it is not a new technology. CDMA has been used in many military applications, such as: Anti-jamming (because of the spread signal, it is difficult to jam or interfere with a CDMA signal). Ranging (measuring the distance of the transmission to know when it will be received). Secure communications (the spread spectrum signal is very hard to detect). CDMA is a spread spectrum technology, which means that it spreads the information contained in a particular signal of interest over a much greater bandwidth than the original signal. With CDMA, unique digital codes, rather than separate RF frequencies or channels, are used to differentiate subscribers. The codes are shared by both the mobile station (cellular phone) and the base station, and are called pseudo-random code sequences. Since each user is separated by a unique code, all users can share the same frequency band (range of radio spectrum). This gives many unique advantages to the CDMA technique over other RF techniques in cellular communication. CDMA is a digital multiple access technique and this cellular aspect of the protocol is specified by the Telecommunications Industry Association (TIA) as IS-95. In CDMA, the BSSAP is divided into the DTAP and BSMAP (which corresponds to BSSMAP in GSM). Generating a CDMA signal There are five steps in generating a CDMA signal. analog to digital conversion vocoding encoding and interleaving channelizing the signals conversion of the digital signal to a Radio Frequency (RF) signal The use of codes is a key part of this process. How CDMA is altering the face of cellular and PCS communication? CDMA is altering the face of cellular and PCS communication by: Dramatically improving the telephone traffic capacity Dramatically improving the voice quality and eliminating the audible effects of multipath fading Reducing the incidence of dropped calls due to handoff failures Providing reliable transport mechanism for data communications, such as facsimile and internet traffic Reducing the number of sites needed to support any given amount of traffic Simplifying site selection Reducing deployment and operating costs because fewer cell sites are needed Reducing average transmitted power Reducing interference to other electronic devices Reducing potential health risks Commercially introduced in 1995, CDMA quickly became one of the worlds fastest-growing wireless technologies. In 1999, the International Telecommunications Union selected CDMA as the industry standard for new third-generation (3G) wireless systems. Many leading wireless carriers are now building or upgrading to 3G CDMA networks in order to provide more capacity for voice traffic, along with high-speed data capabilities. CDMA is a form of Direct Sequence Spread Spectrum communications. In general, Spread Spectrum communications is distinguished by three key elements: The signal occupies a bandwidth much greater than that which is necessary to send the information. This results in many benefits, such as immunity to interference and jamming and multi-user access, which well discuss later on. The bandwidth is spread by means of a code which is independent of the data. The independence of the code distinguishes this from standard modulation schemes in which the data modulation will always spread the spectrum somewhat. The receiver synchronizes to the code to recover the data. The use of an independent code and synchronous reception allows multiple users to access the same frequency band at the same time. In order to protect the signal, the code used is pseudo-random. It appears random, but is actually deterministic, so that the receiver can reconstruct the code for synchronous detection. This pseudo-random code is also called pseudo-noise (PN). There are three ways to spread the bandwidth of the signal: Frequency hopping. The signal is rapidly switched between different frequencies within the hopping bandwidth pseudo-randomly, and the receiver knows before hand where to find the signal at any given time. Time hopping. The signal is transmitted in short bursts pseudo-randomly, and the receiver knows beforehand when to expect the burst. Direct sequence. The digital data is directly coded at a much higher frequency. The code is generated pseudo-randomly, the receiver knows how to generate the same code, and correlates the received signal with that code to extract the data. HOW SPREAD SPECTRUM WORKS? Spread Spectrum uses wide band, noise-like signals. Because Spread Spectrum signals are noise-like, they are hard to detect. Spread Spectrum signals are also hard to Intercept or demodulate. Further, Spread Spectrum signals are harder to jam (interfere with) than narrowband signals. These Low Probability of Intercept (LPI) and anti-jam (AJ) features are why the military has used Spread Spectrum for so many years. Spread signals are intentionally made to be much wider band than the information they are carrying to make them more noise-like. Spread Spectrum signals use fast codes that run many times the information bandwidth or data rate. These special Spreading codes are called Pseudo Random or Pseudo Noise codes. They are called Pseudo because they are not real Gaussian noise. Spread Spectrum transmitters uses similar transmit power levels to narrow band transmitters. Because Spread Spectrum signals are so wide, they transmit at a much lower spectral power density, measured in Watts per Hertz, than narrowband transmitters. This lower transmitted power density characteristic gives spread signals a big plus. Spread and narrow band signals can occupy the same band, with little or no interference. This capability is the main reason for all the interest in Spread Spectrum today. IMPLEMENTATION OF CDMA TECHNOLOGY Now a day, in large organization the communication process has to be fast and efficient. There are the major points that have to be taken care in the modern corporate culture. Over time, more and more demands have been made on the capabilities of corporate networks. Workers want more mobility; secure, high-speed access; and an extension of applications across the enterprise, all of which can strain current IT capabilities. The first and foremost of all is protecting corporate network assets is an ongoing task for IT professionals. Increased worker mobility and mobile workers needs for immediate, secure access to critical business information add challenges to maintaining network security Some of todays top security issues and concerns are: Unauthorized systems and network access Auditability and compliance Customer data breaches Internal and external sabotage Theft of intellectual property and confidential business information Cost of mobile device administration The following diagram illustrates many elements critical to mobile data security. DIFFERENCE BETWEEN GSM AND CDMA TECHNOLOGY In cellular service there are two main competing network technologies: Global System for Mobile Communications (GSM) and Code Division Multiple Access (CDMA). Cellular carriers including Sprint PCS, Cingular Wireless, Verizon and T-Mobile use one or the other. Understanding the difference between GSM and CDMA will allow you to choose a carrier that uses the preferable network technology for your needs. The GSM Association is an international organization founded in 1987, dedicated to providing, developing, and overseeing the worldwide wireless standard of GSM. CDMA, a proprietary standard designed by Qualcomm in the United States, has been the dominant network standard for North America and parts of Asia. However, GSM networks continue to make inroads in the United States, as CDMA networks make progress in other parts of the world. There are camps on both sides that firmly believe either GSM or CDMA architecture is superior to the other. That said, to the non-invested consumer who simply wants bottom line information to make a choice, the following considerations may be helpful. Coverage The most important factor is getting service in the areas you will be using your phone. Upon viewing competitors coverage maps you may discover that only GSM or CDMA carriers offer cellular service in your area. If so, there is no decision to be made, but most people will find that they do have a choice. Data Transfer Speed With the advent of cellular phones doing double and triple duty as streaming video devices, podcast receivers and email devices, speed is important to those who use the phone for more than making calls. CDMA has been traditionally faster than GSM, though both technologies continue to rapidly leapfrog along this path. Both boast 3G standards, or 3rd generation technologies. EVDO, also known as CDMA2000, is CDMAs answer to the need for speed with a downstream rate of about 2 megabits per second, though some reports suggest real world speeds are closer to 300-700 kilobits per second (kbps). This is comparable to basic DSL. As of fall 2005, EVDO is in the process of being deployed. It is not available everywhere and requires a phone that is CDMA2000 ready. GSMs answer is EDGE (Enhanced Data Rates for GSM Evolution), which boasts data rates of up to 384 kbps with real world speeds reported closer to 70-140 kbps. With added technologies still in the works that include UMTS (Universal Mobile Telephone Standard) and HSDPA (High Speed Downlink Packet Access), speeds reportedly increase to about 275à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬380 kbps. This technology is also known as W-CDMA, but is incompatible with CDMA networks. An EDGE-ready phone is required. In the case of EVDO, theoretical high traffic can degrade speed and performance, while the EDGE network is more susceptible to interference. Both require being within close range of a cell to get the best speeds, while performance decreases with distance. Subscriber Identity Module (SIM) cards In the United States only GSM phones use SIM cards. The removable SIM card allows phones to be instantly activated, interchanged, swapped out and upgraded, all without carrier intervention. The SIM itself is tied to the network, rather than the actual phone. Phones that are card-enabled can be used with any GSM carrier. The CDMA equivalent, a R-UIM card, is only available in parts of Asia but remains on the horizon for the U.S. market. CDMA carriers in the U.S. require proprietary handsets that are linked to one carrier only and are not card-enabled. To upgrade a CDMA phone, the carrier must deactivate the old phone then activate the new one. The old phone becomes useless. Roaming For the most part, both networks have fairly concentrated coverage in major cities and along major highways. GSM carriers, however, have roaming contracts with other GSM carriers, allowing wider coverage of more rural areas, generally speaking, often without roaming charges to the customer. CDMA networks may not cover rural areas as well as GSM carriers, and though they may contract with GSM cells for roaming in more rural areas, the charge to the customer will generally be significantly higher. International Roaming If you need to make calls to other countries, a GSM carrier can offer international roaming, as GSM networks dominate the world market. If you travel to other countries you can even use your GSM cell phone abroad, providing it is a quad-band phone (850/900/1800/1900 MHz). By purchasing a SIM card with minutes and a local number in the country you are visiting, you can make calls against the card to save yourself international roaming charges from your carrier back home. CDMA phones that are not card-enabled do not have this capability, however there are several countries that use CDMA networks. Check with your CDMA provider for your specific requirements. According CDG.org, CDMA networks support over 270 million subscribers worldwide, while GSM.org tallies up their score at over 1 billion. As CDMA phones become R-UIM enabled and roaming contracts between networks improve, integration of the standards might eventually make differences all but transparent to the consumer. The chief GSM carriers in the United States are Cingular Wireless, recently merged with ATT Wireless, and T-Mobile USA. Major CDMA carriers are Sprint PCS, Verizon and Virgin Mobile. There are also several smaller cellular companies on both networks.