Saturday, December 28, 2019
Rhetorical Analysis of Ã¢â¬Å"America Needs Its NerdsÃ¢â¬ by Leonid Fridman No one can deny the social segregation between nerds and athletes. We see it in the media and reality. Most turn a blind eye to this social occurrence, some put an emphasis towards it. A passionate writer by the name of Leonid Fridman wrote a passage titled, Ã¢â¬Å"America Needs Its Nerds,Ã¢â¬ which expands upon our nationÃ¢â¬â¢s social treatment of scholars. Fridman emphasizes the need of individuals who place their focus on learning to help advance our country versus one focusing on less important aspects such as athletics. Fridman uses dramatic tone and ethos to convey to his readers how Ã¢â¬Å"geeks and nerdsÃ¢â¬ are undermined instead of admired in our society. Fridman opens the texts byÃ¢â¬ ¦show more contentÃ¢â¬ ¦Fridman uses a dramatic tone to display the contrast between athleteÃ¢â¬â¢s special treatment while nerds and geeks are being pushed to the sideline. Human brains are programmed with a need to be accepted and not overlooked. Subsequently, itÃ¢â¬â¢s not a factor people can usually ignore. Fridman makes comparisons in which nerds, Ã¢â¬Å"prefer to build model airplanes rather than get wasted at parties with their classmates, become social outcastsÃ¢â¬ (Fridman 14). His comparison associates with the individualÃ¢â¬â¢s interest that represents social acceptance. Next, Fridman proceeds to explain the social insecurities of Ã¢â¬Å"refusal to conform to societyÃ¢â¬â¢s anti-intellectual valuesÃ¢â¬ (Fridman 15). He implies ethos in the example that from a young age kids are forced to look at what is usually socially accepted, and then expected to try and follow others accepted qualities. If it wasnÃ¢â¬â¢t for people acting against conformity and developing their interests in academics America wouldnÃ¢â¬â¢t be where it is in technical advancements. Fridman argues that for AmericaÃ¢â¬â¢s success itÃ¢â¬â¢s necessary that, Ã¢â¬Å"the anti-intellec tual values that pervade our society must be foughtÃ¢â¬ to raise more citizens to be intellectual (Fridman 20-21). He urges for societyÃ¢â¬â¢s values to be challenged in order for individuals to get more involved with educating themselves. Fridman points out, Ã¢â¬Å"There are very few countries in the world where anti-intellectualism runs as high in popular culture as it does in the U.S.Ã¢â¬ Show MoreRelatedE La America Needs Its Nerds T MC4826 Words Ã |Ã 27 PagesAP English Language and Composition Multiple Choice FridmanÃ¢â¬â¢s Ã¢â¬Å"America Needs its NerdsÃ¢â¬ Teacher Overview AP* is a trademark of the College Entrance Examination Board. The College Entrance Examination Board was not involved in the production of this material. Ã ® Copyright Ã © 2009 Laying the Foundation , Inc., Dallas, TX. All rights reserved. Visit: www.layingthefoundation.org Multiple Choice Leonid FridmanÃ¢â¬â¢s Ã¢â¬Å"America Needs Its NerdsÃ¢â¬ (References the 2008 AP* English Language Exam Question 2, Form
Thursday, December 19, 2019
Negative stereotypical gender roles Barkalow (1991) tells us her story that she was in the first class of West Point, which is Military academy, located north of New York city, and during the first year, she often heard back Ã¢â¬Å"MorninÃ¢â¬â¢ bitchÃ¢â¬ after greeting Ã¢â¬Å"Good morning sirÃ¢â¬ to her upperclassmen (Gardner p.219). Those men did not respect Carol Bark because they must have thought that she was weak and impossible to handle harass environment in being trained because of her female sex. Generally, many societies and cultures have created different roles between male and female sexes. In their research, McCubbin and Dahl (1985) state clearly, Ã¢â¬Å"men should be brave, strong, ambitious, and aggressive, while keeping their feelings underÃ¢â¬ ¦show more contentÃ¢â¬ ¦Thus, he led her to his tomb and asked her to get in; however, she refused and ran away from him. She ran into a house with a light, but the house had another vampire who wanted to kill her; however, she escaped from the vampire because her soul was clean and holy which saved her (Murgoci 340). The author of Twilight also overlaps the idea of traditional expectations for woman, so Bella is portrayed as a pure young girl. For example, Edward is a dangerous vampire: a killer in the past and can read peopleÃ¢â¬â¢s mind, but he cannot read BellaÃ¢â¬â¢s mind because she is pure. This makes him interested in her in the first time he meets her, and he becomes her protector. Historical vampire stories are related to stereotypical gender roles to teach virtue to girls. Besides that, contemporary vampires are connected to the world today in order to embrace stereotypical gender roles. Vampires are supernatural strong, while humans are weak. This idea is shown in Twilight through the vampire, Edward, who carries all positive characteristics of an ideal traditional man even though his appearance looks the same as a modern man. He is fast, strong, brave, aggressive and protect ive. He saves his girl friend, Bella several times. For example, when BellaÃ¢â¬â¢s friend accidentally drove the car toward her, Edward moved very fast to her and pushed against theShow MoreRelatedUnfair Representation of Women in Film1740 Words Ã |Ã 7 Pagesthat influence the way they view themselves and others. The twelve year old girl is not the only one who has a negative view of herself. Although men do in fact experience insecurities about their appearance and personalities, it is women who have a greater population effected by the media. Women are exploited more so than men when it comes to appearance and show negative stereotypical attributes when it comes to personality. One particular form of media embodies both aspects; film. For decades theRead MoreAnalysis Of `` The Yellow Wallpaper `` And The Memoir Girl, Interrupted By Susanna Kaysen1515 Words Ã |Ã 7 Pagesmade between the expectations placed on women by society and mental illness. Analyzing all three women an d their struggle with their mental health shows the overwhelmingly negative effects stereotypical gender roles and expectations can have on women. Esther, Susanna, and the unnamed narrator all struggle to conform into the roles already decided for them such as mother and Ã¢â¬Å"wife and surrender to their madness as a last show of protest and to protect themselves from the expectations imposed on themRead MoreThe Media Bias And Stereotypes1782 Words Ã |Ã 8 Pagesfrom it, after the groups we have had I walked out of class each day more informed than when I came in. I absolutely feel that I have changed my entire outlook on the media bias and stereotypes. I felt that before this class I was unaware of how negative these stereotypes and portrayals really were. Almost if I was being selfish for being unaware, because I felt some of these stereotypes or media bias did not affect me. Now that I reflect on what I was thinking at the time, I know better, I especiallyRead MoreThe Hunger G ames Trilogy By Suzanne Collins1991 Words Ã |Ã 8 PagesSpeculative fiction, that does not fit into the conventions of the real world (Neugebauer 2014) and realist fiction, possible stories with no appearance of the supernatural (Lukens 2003, p. 14) present a misogynistic view of females and their role in society. Misogyny is defined as dislike, contempt or prejudice against women (Oxford Dictionary 2017). Both speculative and realist fiction present misogyny in one way by portraying women as a damsel in distress. In these genres of fiction, there isRead More The Role of Women in Tibetan Buddhism Essay4445 Words Ã |Ã 18 PagesThe Role of Women in Tibetan Buddhism Ã¢â¬Å"In Tantric Buddhism, we are dealing with a misogynist, destructive, masculine philosophy and religion which is hostile to life Ã¢â¬â i.e. the precise opposite of that for which it is trustingly and magnanimously welcomed in the figure of the Dalai Lama.Ã¢â¬  Within Tibetan Buddhism, there is an inherent contradiction regarding the status of women. Although in many aspects women are seen and treated as inferior to men, several of the ancient and fundamentalRead MoreA Dialogue of Self and Soul11424 Words Ã |Ã 46 PagesAmerican women in modern times. More recently they have also co-authored a collection of poetry, Mother Songs (1995), for and about mothers. The Madwoman in the Attic was a landmark in feminist criticism. It focuses almost exclusively on the issue of gender in relation to women, though it refers brieÃ¯ ¬ây to the ambiguous class position of governesses such as Jane Eyre. The authors analyse the intertwined processes of female rebellion and repression in the narrative and highlight in particular the readingRead MoreManagement Course: MbaÃ¢Ëâ10 General Management215330 Words Ã |Ã 862 PagesArticle Second Thoughts on Going Public Article ReedÃ¢ËâLajoux Ã¢â¬ ¢ The Art of M A: Merger/Acquisitions/Buyout Guide, Third Edition 10. Postmerger Integration 336 336 Text HodgettsÃ¢ËâLuthansÃ¢ËâDoh Ã¢â¬ ¢ International Management, Sixth Edition II. The Role of Culture 390 390 423 4. The Meanings and Dimensions of Culture 5. Managing Across Cultures iv FeigenbaumÃ¢ËâFeigenbaum: The Power of Management Capitol 1. New Management for Business Growth in a Demanding Economy Text Ã © The McGrawÃ¢ËâHill
Wednesday, December 11, 2019
Questions: 1. How does the Australian culture compare to other world cultures (eg. Your home country or other countries that you have visited)? 2. Do you agree with the survey results for the Australian culture? Why or why not?. Answer: Introduction: 1. Australia and New Zealand have different backgrounds and thus automatically this is replicated in the individualities of the particular native populations. The Maori have combatant approach individuality but sense that their agreement with the British was never privileged by the other sides. On the opposite side to this situation, aborigines have more of victim acknowledgment. They experience that they were persecuted by Christian missionaries and that their nonviolent existence was traumatized by English defense force. Apart from that, it can be stated that New Zealand with its 8% mono-cultural aboriginal Maori inhabitants having considerably more political influences is far more ethnically cognizant than Australia with its multi-cultural Australian aboriginals who correspond to less than 1% of the entire inhabitants. However, it is required to mention here that the national anthem of New Zealand is sung in both Maori and English, while, Australias national anthem is harmonic in English only (Binder 2016). History says that Australia was established by the British as a punishing outpost and on the other hand, New Zealand was established by them as a spiritual outpost under Samuel Marsden. Therefore, whereas the Australians might have a stressed association with England, New Zealand is amalgamated in its admire for the homeland. Kelsey (2015) has stated that disagreement in New Zealand was built approximately the splitting up between Maori and immigrants. Whereas, it can be found that Australians conflicts were depended on a class struggle that was characterized by the Eureka religion and mythology. It can be seen that Australia has forever preserved a close collaborator standing with the USA. On the other hand, New Zealands principled stance in 1986 fir banning nuclear motorized warships from inflowing into the land of New Zealand (geert-hofstede.com 2016). Most importantly, it can be mentioned that Australians are far more imaginative in words use. Whereas, on the contrary, New Zealan ders do not use the rhyming jargon, colloquial and entertaining expressions or blasphemy to the same degree as Australians (Moran et al. 2014). 2. Several survey results have found out that Australia is a land of racists, as the surveys have found many anti-Muslim and anti-Semitic. The survey result says that half surveyed populations among the Australians harbor anti-Muslim emotions and a quarter is anti-Semitic. Apart from that, surveys reports have found out that one in three have admitted some stage of chauvinistic feelings against the aboriginal population (news.com.au 2016). However, it can be said that a 12 year examination, which was carried out by the foremost universities, found out that NSW and QLD to be the most chauvinistic nations, while Victoria was one of the major broadminded. The survey was conducted among 12,512 people in different parts of Australia and it was found out that 48.6% were off-putting towards Muslims, Asians (23.8%), indigenous Australians (27.9%) and Jews (23.3%) and black Africans (27%) (news.com.au 2016). However, it is required to mention here that as per the analysis, xenophobic hotspots in Australia leaned to be in those regions that had financial adversity, latest colonization and below-average educational heights (Yazdifar and Askarany 2012). References Binder, J., 2016.Global project management: communication, collaboration and management across borders. CRC Press. geert-hofstede.com, 2016.Countries - Geert Hofstede. [online] Geert-hofstede.com. Available at: https://geert-hofstede.com/countries.html [Accessed 29 Aug. 2016]. Kelsey, J., 2015.The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books. Moran, R.T., Abramson, N.R. and Moran, S.V., 2014.Managing cultural differences. Routledge. news.com.au, 2016.Australia a land of racists: Survey finds many anti-Muslim and anti-Semitic. [online] NewsComAu. Available at: https://www.news.com.au/national/were-a-land-of-racists-survey-shows/story-e6frfkvr-1226010436251 [Accessed 29 Aug. 2016]. Yazdifar, H. and Askarany, D., 2012. A comparative study of the adoption and implementation of target costing in the UK, Australia and New Zealand.International Journal of Production Economics,135(1), pp.382-392.
Wednesday, December 4, 2019
The differences between Shia and Sunni Paper I. The differences between Shia and Sunni A. History The struggle within Islam arose after Prophet Muhammad died in A.D. 632. When the Prophet died, the followings of Muhammad could nt hold on the issue of who should go the first calif after Muhammad. One group, subsequently know as Shia, insisted that the Prophet had already picked that Ali will be first Imam after him ( Eckman 31 ) . This means the Prophet intended that calif should go on within the Prophet s lineage. So, they admired Ali, who was the Prophet s cousin and hubby of the Prophet s girl, Fatima to be the first 1 ( Abdulwaheed 30 ) . While another group, subsequently known as Sunni, claimed that the Prophet had left this issue to them, his followings, to make up ones mind whether who should go the first calif. Sunni selected Abu Bakr, the Prophet s male parent in jurisprudence, to go first Imam. This unresolved issue led to a civil war between Sunni and Shia for many old ages. As a consequence, Abu Bakr won and became the first Imam ( Eckman 31 ) . After Bakr died, there were 2 more Imams, Umar and Uthman, before Sunni decide to choose Ali to go the calif ( Abdulwaheed 30 ) . But, Shia did non accept this determination and refused to fall in with Sunni. They continued their belief that the leaders of the Islamic universe should stay within the Prophet s household through Ali and Fatima and that they recognized Ali to be the first Imam ( Abdulwaheed 30 ) . After Ali died, Shia believed that there were 11 more Imams after Ali within the Prophet s household. Unexpectedly, the 12th Imams, Al-Mahdi, disappeared after he became a calif for a few yearss. Shia refused to accept that Mahdi had died, but they insisted that he really hid himself and he will return one twenty-four hours to restore a new order and Islamic jurisprudence in the Earth once more ( Eckman 32 ) . B. Theological Belief We will write a custom essay sample on The differences between Shia and Sunni specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The differences between Shia and Sunni specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The differences between Shia and Sunni specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Although Shia and Sunni are Muslim, and both of them believe in the Quran and the Five Pillars, the nucleus cardinal belief of Islam, they are wholly different from each other in many ways. First, there are differences between clerical and church construction. ( Abdulwaheed 33 ) . Shia Islam is seen to similar to Catholic Church in the manner that their construction of their church are both really hierarchal, while Sunni Islam are more resemble to the Protestant Church with trusting more on self-independent ( Abdulwaheed 33 ) . Like Pope, Shia Imam is divinely divine and infallible in any judgements. Unlike Shia Imams, this belief does non look among Sunni ( Eckman 34 ) . The belief that Shia Imam is divinely divine came from the Shia Muslim believe Muhammad designated all 12 sucessors by name and that they inherited a particular cognition of the true significance of the Bible that was passed through the Prophet s descendent ( Dallal 27 ) . Second, Shia strongly holds the value an d the importance of the thought of sufferer and agony ( Abdulwaheed 33 ) . This thought of sufferer and agony appear and express in many of Shia s ritual and presentation while Sunni rejects to accept this thought ( Eckman 34 ) . Third, Shia and Sunni both acknowledge the thought of the terminal times harmonizing to the Quran says, but the Suuni refused to admit the thought about the Expected and Awaited Imam which is taught among Shia that he will return one twenty-four hours to vaticinate the terminal of times to his people ( Eckman 34 ) . C. Practical Differences The Shias have a different manner to make the rite to the Sunni, wudu and salat patterns performed by them differ from the 1s practiced by the Suuni, for case of Shias, brow is placed onto a piece of hard-boiled clay from Karbala, and non straight onto the supplication mat when they perform worship ( Abdulwaheed 51 ) . Prayers are frequently combined by the Shias besides, and sometimes merely three ( alternatively of five ) worshipping is performed per twenty-four hours. The Shias prefer some different ahadith, particularly the 1s narrated by Ali and Fatima instead than the 1s by other comrades of the Prophet ( pbuh ) ( Abdulwaheed 51 ) . The 1s narrated by Aisha are one of the least preferable due to her resistance to Ali. Shia Islam besides allowed a fixed-term impermanent matrimony called muttah which is presently prohibited by the Sunnis ( Abdulwaheed 51 ) . II. The predicament of Shia minority There are 2 chief spiritual subdivisions in Saudi Arabia which are Sunni and Shia. The bulk one is Sunni while the minority is Shia ( Al Qudaihi 1 ) . Shia in Saudi Arabia consists of about 15 per centum of its whole population and they largely live in eastern portion of the state, such as, Qatif, Dammam, and Al-Hasa, the oil-riches country. ( Al Qudaihi 1 ) In 1930, when King AbdulAziz Ibn Saud found Saudi Arabia, he declared his land to be free to pattern Shia ( Al Qudaihi 1 ) . But, King AbdulAziz Ibn s purpose to make free spiritual state does non truly travel into consequence. Obviously, Shias still have a really rough life as they have to confront persecution and favoritism mundane life by Saudi Sunnis who views them as treasonist and heretic ( Megalommatis 49 ) . Furthermore, in some country, Shias even have to hide their religion in secret making the ritual as they are frighten that their unrecorded might non be safe from those extremist Sunni people who hate them ( Al.Has san 16 ) . From these grounds, many Saudi Shias are really connected with Shias in Iran who portion similar belief ( Yamani 8 ) . As Saudi authorities sees this closely relationship between Iranain Shias and Saudi Shias, they perceive it as a menace to national security. Therefore, the Saudi authorities acts more suppressive to Shias than of all time. Because of the oppressive Acts of the Apostless committed by the authorities, the Saudi authorities has been universe widely recognized as the most anti-Shia authorities in the universe ( Megalommatis 49 ) . A. Religious Freedom The tenseness between Sunni and Shia in Saudi Arabia reaches its flood tide these past few old ages ( Al Qudaihi 1 ) . During February 2009, Shia Pilgrims from eastern portion of Saudi Arabia came to Medina to mark the day of remembrance of the Prophet Muhammad s decease , but they were refused by the Sunni spiritual constabularies to fall in the ceremonial due to their different belief in philosophy and ritual. This brought Shia Pilgrims to clash with Sunni spiritual constabularies who were at the front gate. ( Human Right Watch 4 ) At a consequence, many Shia Muslims were wounded and captured and 3 of them died ( Yamani 7 ) . After the confrontation between Shia and Sunni spiritual constabularies, many Shias in London, Berlin and the Hugue came out and protested in forepart of Saudi consulate to name for their independency province from Saudi Arabia ( Yamani 8 ) . Since the state of affairs both in the state and outside the state became worse and worse, King Abdullah decided to let go of the spiritual captives. Still the jobs remain explosive ( Al Qudaihi 1 ) . In March 2009, Saudi Shias, populating in Qutif and Safwa, protested against unjust intervention by its authorities. Many of them were arrested and detained for many months ( Human Right Watch 5 ) . In May, June and July 2009, the governments were ordered by Eastern Province governor to shut down private halls and besides imprison many Shias in Kholar and Ahsa because they had in secret pattern spiritual activities where it banned by the authorities ( Human Right Watch 5 ) . In April 2010 in Khobar, Eastern Saudi Arabia, a Shia English instructor, Hussan Al Makki, was arrested by Intelligence Administration force. Makki was charged of go againsting the authorities s prohibition to pattern any Shia rite. Furthermore, there were other 3 people that were arrested on the same charge as Makki ( Rasid News Network 28 ) . Although Shia s ritual and public jubilation of their spiritual events are considere d illegal to execute, but Shias still continue to pattern both publically and in secret. ( Human Rights First Society 38 ) .Moreover, Shias mosques are forced to close down often. Harmonizing to the Saudi jurisprudence, to open the mosque, it has to acquire a licence from authorities foremost. It is frequently the instance that the authorities will non allow this licence, peculiarly, to Shia mosque. Therefore, it becomes a common and legal thing for the Saudi authorities to close down the Shia mosque under the charge of non holding licence to run ( Human Rights First Society 38 ) . In add-on, the authorities besides restricts on how Shia can construct their house. The authorities prohibits the Shia from holding cellar within their house because the authorities does non desire Shias to turn it into supplication hall, Hussueniyas ( Jafariya News 47 ) . Up to today, the authorities does non let publication of Shia spiritual books, it blocks their web sites, and does non let them any look in the public media. ( Human Rights First Society 38 ) . Many spiritual books, used in universities for classs, disrespect Shia at all by utilizing bad and humbling words to depict them and even mentioning them as Rafuda which means rejectionists of faith. ( Al.Hassan 13 ) . B. Education Not merely Shias are limited the right to pattern spiritual freedom, but besides in instruction ( Human Right Watch 5 ) . From the statistic, there are merely 7 Shia schoolmasters out of 319 male child schools and no Shia headmistress in miss schools at all in Eastern Province where bulk of Shias live. Besides King Faisal University, where its headquarter located at Ahsa in Eastern Province, is consisted of merely 7 professors out of 287 professors ( Human Rights First Society 37 ) . Furthermore, any private schools or babys rooms operated by Shia people are non allowed be opened. ( Al.Hassan 16 ) . Shia s theological belief is non allowed in Teach in school ( Human Right Watch 6 ) . Furthermore, in the school, it becomes a normal thing that many Sunni instructors publically condemn and look down on Shia pupils sing them as heretic ( Wikipedia 12 ) . Dr. Mohamed J. Al.Hassan, a professor at King Saud University, one time said that his girl was insulted by Sunni instructor and he call ed the school to name for justness by firing the instructor, but nil happened to the instructor. Furthermore, some extremist people saw that the instructor should hold done more than that ( Al.Hassan 18 ) . But this can non merely be blamed on those instructors themselves. As throughout of the instructors lives, they have been brainwashed to detest and diss Shia Muslims so when they become a instructor, they will go through their belief to their childs. This will go on from coevals to coevals ( Al.Hassan 16 ) . Not merely Shia pupils are insulted by Sunni instructors, but even Shia instructors or professors are besides insulted by Sunni pupils every bit good ( Al.Hassan 16 ) . C. Social Opportunity Socially, Shias sometimes have to conceal their religion and in secret worship to forestall them from any persecution. Furthermore Shias are ever treated as a 2nd citizen by their authorities. For illustration, the Fatima Shia of Najaran, an ancient native community, received really bad dainty from the authorities. More Than 3000 members from the community were forced to go forth their place to travel to else without any good ground ( Megalommatis 50 ) . The authorities besides limits their freedom on how Shia named their kids in order to deter them from demoing their individuality. ( Wikipedia 12 ) before tribunal where everyone claims a justness section. For illustration, Sunni justice will non let or accept the informant who is Shia. Furthermore, the tribunal Judgess any instances based on Sunni spiritual jurisprudence. Furthermore, no Saudi Shias have right to function as a justice in tribunal and besides in any high-rank place within authorities and military ( Human Right Watch 6 ) . Government passes out several edicts that encourage people with hatred, force and favoritism against Shia. Some edicts recognize Shia as illegal and non-Muslim and can non populate harmoniously with Shia. ( Al.Hassan 13 ) Other edicts claim Shia to deviate the existent significance of Islam and polytheists. ( 14 ) This type of favoritism and hatred besides widely appear on the cyberspace advancing violent and segregation against Shia. Surprisingly those violent Sunni web site are allowed to travel on while Shia website which advancing peace and integrity are blocked really fast by Saudi authorities. ( J, 25 ) Saudi Shia are out to take any senior place in Government. There are no Shia curates, diplomats, security officers, ground forces commanding officer, air force pilots, spiritual instructors, caput of authorities bureaus, Judgess, city managers, official imaums, Royal officers, caput of public company and many other senior authorities. ( Megalommatis 49 ) . III. Chemical reaction A. Shia All the Saudi Shia wants is for their authorities to esteem their individuality and handle them every bit. Yet, Saudi governments routinely treat these people with scorn and intuition. ( Human Right Watch 4 ) . Shia Muslims in Saudi Arabia have been so long looking for more equality in their day-to-day life in society including freedom to idolize. They want to hold legal right to hold their ain mosque, Shia spiritual book, and besides are accepted by everyone ( Al Qudaihi 2 ) . Saudi Shias has set up a new resistance group to name for more equal intervention for their people called Khalas . This group claims that the authorities has opportunities to reform its society to be more openness toward Shia, but they are merely non willing to make it so ( Al Qudaihi 3 ) . Tawfik al-saif, a Saudi political militant, states that to stop these drawn-out struggles, the Saudi authorities should present both political and societal reforms to do Sunni and Shia much more integrate to each othe r ( Al Qudaihi 2 ) . To stop these jobs, Mai Yamani, a Saudi bookman, suggests that Saudi should alter from molithic Wahabi national individuality to be more unfastened and inclusive everyone. This means that Saudi Arabia has merely 2 picks to take either stoping favoritism against Shia and giving them their right socially and politically, or sitting down and watch them to derive their strength from foreigners and the state go decomposition ( Yamani 9 ) . Recently, King Abdullah has tried to promote Saudi people to pattern spiritual tolerance and unrecorded together peacefully, but a big figure of province establishments still commit to know apart Shias non to be able to keep any public offices ( Human Right Watch 4 ) . D. King and the Saudi authorities In 2003, Prince Abdullah began the thought to acquire both Sunni and Shia Clerics to come together for the first clip. 5 old ages subsequently, Prince Abdullah besides supported a pan-Muslim World meeting for Shia and Sunni keeping in Mecca ( Financial Times 25 ) . Since 2001, Saudi authorities stated that they have prepared to redact text editions, curricular, learning method to recommend tolerance and take dissing word from the book. Despite their effort to alter the prejudice position toward Shia, text editions used in schools still contain the words that show intolerance position toward Shia advancing force and hatred against Shia. ( Scripture Seed Foundation 42 )
Wednesday, November 27, 2019
Freedom with restrictions a commentary on The Cyclist by Louis MacNiece Essay In the poem The Cyclist by Louis MacNiece the readers are invited to share the joy and freedom of the cycling the boys are experiencing in summer via various literary devices. Through the use of theme, juxtaposition, repetition and sensory imagery, the poet is able to create a pleasant atmosphere of vigorous youth. However, by mentioning the school studies throughout the poem, Louis MacNiece subtly implies that negative things will always exist, even when we are experiencing the happiest moments in our life. The title of the poem already tells the readers that the focus of the poem is the cyclist, a young boy who is freewheeling down the escarpment (line 1). The very first word of the poem, freewheeling, brings the theme of freedom into this work. By describing the swift movement of the bike and applying the verb in present tense, it creates a continuous and unstoppable impression of the cycling process when the poet sets the action going down a hill. The speed of the bike is emphasized even more when the verb is juxtaposed with the unpassing horse (line 1). Because the boy is riding the bicycle with the pedals at rest, it also gives the feeling that the boy is relaxing so he can enjoy the moment of wind cools the sweat of his neck (line 3) to the fullest. We will write a custom essay sample on Freedom with restrictions a commentary on The Cyclist by Louis MacNiece specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Freedom with restrictions a commentary on The Cyclist by Louis MacNiece specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Freedom with restrictions a commentary on The Cyclist by Louis MacNiece specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Unfortunately, after a few lines later the readers find out although the boy seems to be free, he is still restricted between the horizons brackets (line 6). Brackets, together with chalk in line 2, refers to tools in classroom and grammar lessons in school that keep on occurring in the cycling boys mind even during summer holidays. Here the boy appears to be in an insecure mood that makes him grasp the [handlebars, as if it is] summer (line 4), because he has only mere five minutes (line 7) that completely belong to him to enjoy. The happiness and pleasure brought by freewheeling now appear to be somewhat tragic, as we learn they will not last long. The poem consists of 27 lines that are divided into three stanzas of varying lengths. If the first stanza is mainly devoted to the freedom of the cycling boy, then the second stanzas purpose is to build up the summer atmosphere by using remarkable imagery. In line 11, the phrase glaring, glaring white creates a dazzling effect, reminding of the color of summer sun. The repetition of glaring emphasizes the brightness of the light but gives a sense of danger at the same time too, as it produces an image of a teacher glaring at the student for wasting his time on cycling rather than studying. The heat in the summer time is further highlighted by the image of the grass boil[ing] with grasshoppers (line 13). The verb boil, that expresses the heat needed for liquid to turn into vapor, is so vivid that the readers can almost directly feel the incredibly high temperature. On the other hand, the image of grasshoppers being boiled alive by the heat seems too excessive and brutal, just like the glaring, glaring white light is too bright for people to look at. This exaggerated imagery reflects another restriction shown in the poem that positive things, such as warmth and light that all living creatures need in order to survive, can bring negative effects when being used without a limit. The poem goes on to describe the pleasure the boys are experiencing during summer, whetter through cycling or skateboarding, which the poet illustrates as surf[ing on] dust (line 17) and heat-wave (line 15). The enjambment between the second and third stanza does not seem abrupt, on the contrary, it gives the reader a break to enjoy the moment of hair thrown back (line 16) by the wind. However, right after the imagery full of leisure portraying the boys drink [summer] through closed eyelids (line 20), MacNiece introduces another turning point in the poem. The bell (line 20) obviously referring to the school bell brings the poem back to the school theme. The repetition of left-right-left (line 21 and 23) that describes the pedaling process at the end of the poem significantly contrasts the freewheeling at the beginning of cycling. The fact that the the boy must pedal again (line 22) and meanwhile remembering his forgotten sentence (line 21) indicates the joy the boy experiences in summer holiday will eventually fade away: he has to face the reality of schoolwork and start to study hard when the vacation ends. The poem finishes by referring to the unchangeable movements of the horse in the chalk (line 24). The horse, although much slower than the bike, can be regarded as the ultimate symbol of freedom, as unlike human, particularly the boy whose school will soon start, it moves calmly (repeated three times in line 25, 26 and 27) regardless of tenses and final clauses (line 26). This last juxtaposition of humans restrictions and animals freedom, together with various other literary devices used in this work, marks the final conclusion of this poem written by MacNiece: although we can experience joy and excitement in our lives, we can never truly be free.
Sunday, November 24, 2019
Positive learning enviroment Essay Example Positive learning enviroment Essay Positive learning enviroment Essay To be effective in analyzing and evaluating strategies I will require to establish and maintain a positive learning environment (PEEL) within my lessons, I will first establish what constitutes a PEEL through my own understanding including further research. I will then go on to analyses and evaluate the strategies I will use, focusing on the overarching ideas of behavior management (MM) and expectations, safety and assessment. I will link these to the Teachers Standards (TTS) throughout. A PEEL, echoing the words of Jacques and Holland (2007,104), has attractive displays based on hillsides work is tidy has a purposeful atmosphere when children are working promotes children self esteem. This is by no means a definitive list explaining how to create a PEEL, but addresses the important strategies I will use to create a PEEL and discuss throughout this essay. Behavior for learning (FL) must be addressed when discussing how to create a PEEL. Both are high on the agenda of myself as a trainee teacher, the government and teaching unions. The government has given the role of shaping FL to the head teacher of individual schools who is required by the Department for Education (UDF) (2014, 4) to produce a school behavior policy effective as a strategy for establishing and maintaining a PEEL, which sets out procedures to promote good behavior, self-discipline and respect prevent bullying ensure that pupils complete assigned work and which regulate the conduct of pupils. These concepts must be included within each schools behavior policy to create an established expectation of behavior within the school. Looking at the behavior policy of Twofold Junior School (TTS), the school motto is Be proud to shine (TTS, 014,2), this has been developed by the children into a code of conduct summarized by the words Learn, Safe, Happy, Respectful (TTS, 2014, 2), echoing the requirements from the UDF for FL. The TTS behavior policy is vast and encompasses an amalgamation of ideas including behavior management and expectations, reward systems and inappropriate behavior management which will equip me as a trainee teacher to establish and maintain a PEEL within my lessons. Teaching unions to an extent, agree with the concepts outlined above from the UDF. Their interest in FL also aligns itself with the protection of pupils learning and teachers careers. In the National Union for Teachers charter Learning to Behave A Charter for Schools (no date,3) Any behavior that prejudices teaching and learning within schools is unacceptable For some teachers it can be the trigger for leaving the profession. Young people who exhibit unacceptable behavior diminish their own chances as well as those of their peers. Thinking how FL must be established through a government led school behavior policy and how it affects the Jobs of teachers, pupils and their learning through teaching unions it becomes clear how FL must first be established before a PEEL can exist. This is why I will begin with addressing BUM and expectations for a PEEL within this essay. In accordance with TTS of the Teachers Standards (TTS), teachers are to Manage behavior effectively to ensure a good and safe learning environment (UDF,2011,12). Therefore BUM as a strategy for a PEEL is of utmost importance. TATS highlights the need for clear rules and routines accordance with the school behavior policy (UDF,2011,12) rules and routines create and shape the learning environment the way I want it to be. Having experienced how classrooms operate with and without a set rules and routines those with established lassoer rules having a quicker and more resolute way of dealing with inappropriate behavior I understand their need as a BUM tool within the classroom. I have also found through covering classes with a set of classroom rules on the wall, when asking the pupils my expectation of their behavior, they are quick and well equipped to respond. I will begin my teacher training creating a set of rules and routines with the pupils in agreement with Cicadas and Overall (1998,199) that Routines will work better if there is a shared and agreed understanding about them better if the children have helped to set them up. Through creating a set of rules and routines with my pupils, there will be a classroom behavior expectation which reflects the school behavior policy, promotes positive behavior and a feeling of security for the children of what to expect and what my expectations as a teacher are of them. As per Toss behavior policy Children know the consequence of breaking the rules TESTS supports this process which will encourage children to take a responsible and conscientious attitude to their own work and study (UDF,2011 , 10) to own their behavior. Classroom rules and routines are extremely useful to maintain PEEL they have been constructed together and can be referred back to throughout the year to reinforce positive behavior. BUM strategies to aid and enforce classroom rules and routines are in great supply from differing praise and rewards systems, to strategies of dealing with inappropriate behavior which are vital in constructing FL and a PEEL. TTS has a long list in its behavior policy to support BUM rewarding positive behavior includes merit marks, stickers, golden time and many more which I can utilize as strategies for FL for a PEEL. I have observed one strategy use throughout Year 3 at TTS of the brick move which highlights good and inappropriate behavior. It is a BUM strategy, which leads to golden time on a Friday afternoon where children can play with toys and sports equipment of their choice a reward for working hard throughout the week. The brick move reward strategy is similar to that of a traffic light system using more Jumps from start to finish. This strategy can be used in a number of ways, moves forward for correct behavior expectations and praising courteous behavior as expressed in TATS, but also moves backwards to highlight inappropriate behavior. One of the most effective uses I have seen and used of the brick move strategy is its use for positive discipline and reinforcement of behavior. Toss behavior policy for dealing with incidences of inappropriate behavior includes tactically ignore, acknowledge on-task behavior and privately and openly encourage positive behavior (TTS,2014,4) all focus on deferring negative behavior and reinforcing positive behavior through a brick move. I have used this within classes, rewarding the pupils showing expected behavior and have found it very effective as a BUM tool. I know positive discipline is a fantastic aid to establishing and maintaining both BAL and a PEEL and agree with Rogers, positive discipline isomer than ones use of language it is about creating the best environment and social climate for teaching and learning. (Rogers ,2007,52). The TTS state the classroom should be a safe and stimulating environment for pupils, rooted in mutual respect (UDF,2011,10). Teeming with ideas, this extract requires breaking down into three parts safety, stimulation and respect. I will address these in the next paragraphs to discuss strategies I will use to create a PEEL. Abraham Mascots Theory of Human Motivation (1943) is an influential theory when thinking about the importance of safety within a classroom to establish a PEEL. Mason spoke about a hierarchy of needs required by humans to succeed in fulfilling their potential something which has been debated time again by those working in schools. Mason states There are at least five sets of goals, which we may call basic needs. These are briefly physiological, safety, love, esteem, and self- actualization. (Mason,1943). It is widely agreed that Mascots basic needs must be met for a PEEL to be established, children learn more effectively when they feel better bout being in this group and coping with this work, when fundamental needs are being met. (Rogers,1998,226). Greenhorns discusses strategies for a safe atmosphere within schools in his publication The classics are hard to beat (2012), including, clear expectations around behavior, supported by consistent sanctions. I have already discussed BUM through rules and routines these are also fundamental to feel safe children know what to expect, therefore feel secure. Its also necessary for children to know what to expect from myself as a teacher, It is important for teachers of all ages ND experience to be clear about exactly who they errand what they expect from their pupils. (Dixie,2007,8). When I first covered classes, I didnt introduce myself or state any expectations of rules or behavior BUM was difficult and I was inconsistent with it I know the children didnt feel they were in a safe or secure environment. Through observing lessons, it became clear an established expectation and consistency from teachers was expected by the children this is what I will aim to project throughout my teacher training, Young people want certainty from the adults in their lives. They need you to create and enforce boundaries to give them a feeling of security. (Cooley,2010,9). Creating a safe environment within a classroom to establish a PEEL requires using the strategy of inclusion. Inclusion provides a feeling of safety and security through the idea that children feel comfortable in the knowledge that as a teacher I will ensure that they have full access to the curriculum, Lessons should be planned to ensure that there are no barriers to every pupil achieving As a teacher, I am required to ensure Inclusion means enabling pupils to participate in the life and work of mainstream institutions to the est. of their abilities, whatever their needs (Dixie,2011 , 14), which suggests to create a PEEL inclusion must be linked with differentiation to create a safe environment. Differentiation maintains ITS B children are challenged within their own abilities and I should set high expectations for every pupil and plan stretching work for pupils whose attainment is significantly above the expected standard (UDF,2013,8). Inclusion and differentiation as strategies to establish a PEEL is a huge and varied group of ideas, from SEEN to GET children, deploying support staff effectively through focus roofs and one-to-one help as needed by ATSC, they are key tools which will able me to create a PEEL through engaging appropriate support systems. I will address ideas of stimulation within the classroom within the next paragraphs. As explored earlier, its important for children to feel safe and secure within a classroom to establish a PEEL my classroom will need to be a space that provides pupils with adequate light, heat and seating space and the opportunity to drink fluids, will hellhole pupils feel safe, secure, happy and ready to learn. This refers to Mascots idea that Asia needs of a person must be met a PEEL established, before they can fulfill their potential. The layout of a classroom is also important for BUM to create FL and a PEEL throughout wider reading I know there are many ways to structure a classroom I have thought about all as a strategy to create a PEEL and believe putting desks in groups in my Year 3 training year will be most effective. I will use rewards systems through table points, differentiate levels and set targets more effectively by grouping children of a similar ability together I will also be arranging my classroom so that I can get to ACH student quickly and easily without disturbing or moving others. Positive stimulation for a PEEL also comes through the effective use of displays within a classroom they are an invaluable tool and strategy for a teacher to promote positive messages that can be transmitted through the medium of effective collapsibility. (Dixie,2011 ,31). Classroom displays, if used effectively, suggest to pupils academic ideals, a positive attitude towards work and a reinforcement of an authority of rules, they can as TESTS states Encourage pupils to take a responsible and conscientious attitude to their own work and study (UDF,2011 , 10). Displaying established classroom rules and routines will provide me as a trainee teacher, a tool and strategy to refer back to throughout the course of the year to ensure positive FL to maintain a PEEL. Stimulation within the classroom is also created through displays of children work by putting their work up on the wall I will be displaying exemplary work to be followed, bettered and create high expectations which children want to attain as per ITS. I will be setting targets for them to aspire to where They feel valued, they feel a sense of belonging, which in turn makes them feel happier about school. A happy child is a child who is less likely to cause disruption. (Dunn,2012,49), therefore a valuable strategy to create and maintain FL and a PEEL. Respect is the final part of the extract from the TTS I will look at, the idea that The development of a positive classroom climate depends on this relationship being two-way, your respect for pupils should be reciprocated in their respect for you, (Caribou,1998,70). Respect must be mutual for a PEEL to exist, as per DOTS At its heart, good behavior management is about good teacher/student relationships. I know as a teacher I am required to be knowledgeable about my students as stated by TESTS wrought educational means by having appropriate expectations and planning the correct level of work, but also understanding that behavior always has a reason and is quite often routed in the history of the child. I also believe that respect leads to a PEEL through consistent and fair teaching which takes us back to BUM and children knowing what to expect and what the teachers expectations are. Establishing a PEEL through respect should also be taught in the classroom, Students have to learn to accept that they are responsible for their behavior and its effect on others and the classroom environment. Rogers ,2008,153). Through being a respectful classroom, you can see that FL becomes positive, which in turn creates a PEEL. To close, I will address the idea of maintaining a PEEL through utilizing assessment effectively. Formative assessment as a strategy for PEEL can be seen in learning objectives, learning expectations, targets and many other means. Formative assessment links Joins the idea that in creating high expectations for pupils, a PEEL will be established as set out in ITS and the National Curriculum Teachers should use appropriate assessment to set targets which are deliberately ambitious. Targets also help your less able children feel a sense of achievement. (Cooley,2010,50) thus embedding the concept of a PEEL. As set out in ATSC, formative assessment can be used as a strategy to guide pupils to reflect on the progress they have made (UDF,2011,10). Both self, peer and teacher assessment through feedback, are amazing tools to create a PEEL through giving the responsibility of learning to the children, therefore Mascots idea that the creation of self esteem (through assessment) as a basic need allows children to fulfill their potential, The need to foster pupils self-esteem as learners is monumental to establishing a positive classroom climate, (Caribou,2008,73), therefore, The purpose of self- and peer-assessment is to help children to have a better understanding of assessment and therefore what constitutes progress and success.
Thursday, November 21, 2019
Philosophy and Social Justice - Essay Example A social system is said to be just if its values are contrary to those systems that foster suffering, abuse, oppression, tyranny, discrimination, and prejudice. A just social system incorporates the government since solely the government does the distribution of services and resources. These services include education and health services. When the government provides a quality education, dependable health services and equitable distribution of resources to the populace without favor then we say we have a socially just society. A society where every citizen, whether rich, poor, powerful, or powerless is given an equal chance to thrive either in social, or economic aspects. In conclusion, a socially just society upholds the rights of its citizens as provided in the constitution. These rights may include right to shelter/housing, freedom of speech, freedom of association, equitable economical empowerment among others (Daniels, 2005). According to the Theory of Justice (Veil of Ignorance), Rawls argument is from a principled reconciliation of fairness and liberty. Ideologies of justice are used to guide the conduct of the parties. These groups face a little shortage, and they are not purely egoistic or naturally altruistic. They have a mission they seek to achieve, but prefer to achieve them through collaboration with others on mutually suitable conditions. Rawls gives a form of fairness in the choice within groups using principles of justice that are mutually acceptable. In such limitations, Rawls believes that the involved groups would find his preferred ideologies to be attractive, winning out over varied alternatives such as right-libertarian and utilitarian accounts. Rawls claims that ignorance to certain issues in the society will create fairness in the society; this he calls the original position. If a person does not know his future in his own imagined society, he is likely not giving
Wednesday, November 20, 2019
Consumer Behaviour - Essay Example As per definition, WOM refers to the process of oral communication between two individuals where the individuals increasingly communicate important values or related information pertaining to a particular category or brand. The advantage of WOM over standards methods of advertising is that the WOM marketing happens mostly through the process of communication of two individuals at a significantly lower price as compared to that of advertising. The word of mouth marketing has significantly high level of benefits on the development of the brand value for the product as well as the company2. For globally renowned Fiskars, it can be said that the company can leverage a lot of advantage out of the word of mouth marketing technique by maintaining high end quality for its products as well as introducing innovativeness in the product design. A vital point is that though the companyÃ¢â¬â¢s product mostly falls under the consumer durables category, it increasingly caters to three business areas like the home division, the garden division and the outdoor division. The products especially for the outdoor division are extremely critical in nature and needs supreme durability and consistency in quality. As a matter of fact, a highly reputed brand that provides consistent quality will automatically lead to higher sales especially for this division, if accompanied by the consumer driven word of mouth marketing tool3. There are significant steps that have to be followed by the company, in order prevent negative impact due to the word of mouth marketing for the companyÃ¢â¬â¢s products. A very important factor is the fact that the company needs to secure its distribution network across the global markets in the wake of various fluctuating scenarios of macro economic conditions. The company also needs to secure the flow of various raw materials
Sunday, November 17, 2019
Innovation in a market economy - Essay Example Organizations cannot exist in the market with the conventional products alone. For example, think of a situation in which Microsoft sticking with its old operating system Windows 3 series alone at present. Everybody knows that Microsoft was able to keep its monopoly in the software industry purely because of their ability to innovate news products or incorporate new features to their existing products. Thus we got Windows 95, 98, 2000, XP, Vista like updated versions of windows. It is not possible for Microsoft to accommodate the requirements of the current world using their older versions of operating systems. The current facilities like video conferencing, video chat, high resolution graphics processing, internet, e-mail etc may not run its older versions of Windows. Thus innovation makes an organization capable of meeting the present challenges by updating their existing technologies. Innovation is needed even in formulating strategies. Same strategy may not work everywhere even if the product is the same. Parker Pen Company has tried to implement same marketing strategies to market their writing equipments all over the world at the beginning of their international campaign. They thought same product needs same marketing strategies everywhere. But they failed miserably because of the above strategy. Ã¢â¬Å"Product may be the same, but may be differentÃ¢â¬ , Parker Pen Company failed to recognize the above fact. Ã¢â¬Å"The idea of selling pens the same way everywhere did not sit well with many parker subsidiaries and distributors. Ã
Friday, November 15, 2019
Push and Pull Factors in Business Companies decide to go global and enter international markets for a variety of reasons, and these different objectives at the time of entry should produce different strategies, performance goals, and even forms of market participation. However, companies often follow a standard market entry and development strategy. The most common is sometimes referred to as the Ã¢â¬Å"increasing commitmentÃ¢â¬ method of market development, in which market entry is done via an independent local partner. As business and confidence grows, a switch to a directly controlled subsidiary is often enacted. This internationalization approach results from a desire to build a business in the country-market as quickly as possible and by an initial desire to minimize risk coupled with the need to learn about the country and market from a low base of knowledge. International markets evolve rapidly and very often companies struggle to keep up in terms of their strategy. It is therefore reasonable to deduce that many companiesÃ¢â¬â¢ international operations will consist of a collage of country market operations that pursue different objectives at any one time. This, in turn, suggests that most companies would adopt different entry modes for different markets. More commonly, however, is for companies to evolve a template that is followed in almost all markets. This usually starts with market entry via an indirect distribution channel, usually a local independent distributor or agent. Factors leading to wide acceptability of international business: The factors leading to the wide acceptability of international business are: Globalization of economics: The policy of liberalization was adopted which led to the globalization of various economics including the former communist countries and socialist pattern of the society. The globalization of economics has been instrumental in the growth of international business. Rapid technological advancement: Many firms have emerged up with innovated products or with improved process technology. With the demand for such products and technology being price-inelastic, these firms have moved abroad in order to reap large profits. The development of information technology has bought different countries closer and has encouraged firms to move abroad with the minimum of difficulties. Establishment of WTO: In todayÃ¢â¬â¢s highly competitive globalized business environment, WTO is indispensable enables a country to attain the status of MFN clause which is required for scaling the international competitiveness and it implies that any concession given to any nation becomes available to all the member countries. Enlargement of European Union: Since 1991 the membership of EU has increased. It increased from 15 members to 27 members. This has also led to the promotion of internationalization of business. Increase in Competition: With increasing competition, firms have preferred not only to source raw material and intermediate goods from the least-cost country but also to set up their units in different countries, which minimises the cost of operation and reduces financial risk. The growing concept of cost minimization and risk reduction, with a view to surviving in a competitive environment, has led to rapid growth of the internationalization process. Higher growth rate of GDP in developing countries: Higher growth rate of GDP of China, India, South Korea, Singapore, Malaysia, Thailand, Brazil and Mexico and other developing countries has also been one of the significant factors for changing scenario of international business. Increase in business alliance In degree and variety: During last 15 years international business alliances, joint ventures, mergers, amalgamations and takeovers have occurred in the world by the companies of different countries. This has further led to widening of international business. Increase in educational and career orientation opportunities: These factors resulted in enhancement of opportunities for higher value addition in developing countries. The developing countries started attracting multinational companies to establish their businesses in their countries. Why companies engage in international business? There are several drivers of international business. The driving forces that motivate companies to go global can be classified into pull forces and push forces. The pull forces are proactive which pull the business to foreign markets. The push forces on the other hand are reactive forces which promote the companies to go international. Pull/ Proactive Forces- Attractiveness of the Foreign Markets: Profit advantage due to increase in volume: For companies, mostly in the developed countries, which have been operating below their capacities, the developing markets offer immense opportunities to increase their sales and profits. Low wage/ cheap labour attraction: Many multinational companies (MNCs) are locating their subsidiaries in low wage and low cost countries to take advantage of low cost production. Taking advantage of growth opportunities: MNCs are getting increasingly interested in a number of developing countries as the income and population are rapidly rising in these countries. Foreign markets, in both developed country and developing country, provide enormous growth opportunities for the developing country firms too. Growth of regional trading blocs: Regional trading blocs are adding to the pace of globalization. WTO, EU, NAFTA, MERCOSUR and FTAA are major alliances among the countries. Trading blocs seek to promote international business by removing trade and investment barriers. Integration among countries results in efficient allocation of resources throughout the trading area, promoting growth of some business and decline of others, development of new technologies and products, and elimination of old. Declining trade and investment barriers: Declining trade and investment barriers have vastly contributed to globalization. The free trade regime, business across the globe has grown considerably. Goods, services, capital and technology are moving across the nations significantly. Push/ Reactive Forces- Compulsion of the Domestic Market: Saturation of domestic demand: The market for a number of products tends to saturate or decline in the advanced countries. This often happens when the market potential has been almost fully tapped. For example, the fall in the birth rate implies contraction of market for several baby products. Businesses undertake international operations in order to expand sales, acquire resources from foreign countries, or diversify their activities to discover the lucrative opportunities in other countries. Scale economies and technological revolution: Economies of scale are reductions in unit production costs resulting from large-scale operations. The technological advances have increased the size of the optimum scale of operation substantially in many industries making it necessary to- have foreign market, in addition to the domestic market, to take advantage of scale economies. Technological revolution: Revolution is a right word which can best describe the pace at which technology has changed in the recent past and is continuing to change. Significant developments are being witnessed in communication, transportation and information processing, including the emergence of the internet and the World Wide Web. Domestic recession: Domestic recession often provokes companies to explore foreign markets. One of the factors which prompted the Hindustan Machine Ltd. (HMT) to take up exports very seriously was the recession in the home market in the late 1960s. Competition as driving force: Competition may become a driving force behind internationalization. There might be intense competition in the home market but little in certain foreign countries. A protected market does not normally motivate companies to seek business outside the home market. Government policies and regulations: Government policies and regulations may also motivate internationalization. There are both positive and negative factors which could cause internationalization. Many governments offer a number of incentives and other positive support to domestic companies to export and to invest in foreign investment. Improving image of the companies: International business has certain spin-offs too. It may help the company to improve its domestic business; international business helps to improve the image of the company. There may be the Ã¢â¬Ëwhite skinÃ¢â¬â¢ advantage associated with exporting- when domestic consumers get to know that the company is selling a significant portion of the production abroad, they will be more inclined to buy from such a company. Strategic vision: The systematic and growing internationalisation of many companies is essentially a part of their business policy or dtrategic management. The stimulus for internationalisation comes from the urge to grow, the need to become more competitive, the need to diversify and to gain strategic advantages of internationalisation. Importance of International Business: High living standards: Comparative cost theory indicates that the countries which have the advantage of raw materials, human resources, natural resources and climatic conditions in producing particular goods can produce the products at low cost and also of high quality. Increased Socio-Economic Welfare: International business enhances consumption level, and economic welfare of the people of the trading countries. For example, the people of China are now enjoying a variety of products of various countries than before as China has been actively involved in international business like Coca-Cola, McDonaldÃ¢â¬â¢s range of products, electronic products of Japan and coffee from Brazil. Wider Market: International business widens the market and increase the market size. Therefore, the companies need not depend on the demand for the product in a single country or customerÃ¢â¬â¢s tastes and preferences of a single country. Reduced effect of Business Cycles: The stages of business cycles vary from country to country. Therefore, MNCs shift from the country, experiencing a recession to the country experiencing Ã¢â¬ËboomÃ¢â¬â¢ conditions. Thus, international business firms can escape from the recessionary conditions. Reduced risks: Both commercial and political risks are reduced for the companies engaged in international business due to spread in different countries. Large scale economies: Multinational companies due to wider and larger markets produce larger quantities, which provide the benefit of large-scale economies like reduced cost of production, availability of expertise, quality, etc. Potential untapped markets: International business provides the chance of exploring and exploiting the potential markets which are untapped so far. These markets provide the opportunity of selling the product at a higher price than in domestic markets. Provides the opportunity for and challenge to domestic business: International business firms provide the opportunities to the domestic companies. These opportunities include technology, management expertise, market intelligence, product developments, etc. Division of labour and specialisation: International business leads to division of labour and specialisation. Brazil specializes in coffee, Kenya in tea, Japan in automobiles and electronics. India in textiles garments, etc. Economic growth of the World: Specialisation, division of labour, enhancement of productivity, posing challenges, development to meet them, innovations and creations to meet the competition lead to overall economic growth of the world nations. Optimum and proper utilisation of World Resources: International business provides for the flow of raw materials, natural resources and human resources from the countries where they are in excess supply to those countries which are in short supply or need most. Cultural Transformation: International business benefits are not purely economical or commercial; they are even social and cultural. It does not mean that the good cultural factors and values of the East are acquired by the West and vice versa. Thus, there is a close cultural transformation and integration. Knitting the World into a Closely Interactive Traditional Village: International business ultimately knits the global economies, societies and countries into a closely interactive and traditional village where one is for all and all are for one.
Tuesday, November 12, 2019
Appreciation due to Death Since the day the first man was created and then destroyed, a theory about life has been made. Everyday people take their lives for granted. But after they have faced mortal loss or life-threatening situations, their attitude towards life changes. They soon come to understand that the gift of life is to be appreciated and not taken for granted. Yulisa Amadu Maddy and T.S. Eliot are two writers who through their literature prove that death can change a personÃ¢â¬â¢s outlook on life. Both of these authors, however, express this theory differently. For instance Maddy, author of No Past, No Present, No Future, portrays this theory through the life stories of three very different African boys. Whether it is someone they care for or themselves, each one of these boys, throughout their life, is confronted or threatened by death. The story of Joe BengohÃ¢â¬â¢s life is one example of how Maddy shows that death can teach a person to appreciate life. Maddy begins JoeÃ¢â¬â¢s life story by showing readers his attitude towards life. He portrays it as an unappreciative and non-caring attitude. A reader knows this because in the beginning of the book Maddy describes how JoeÃ¢â¬â¢s drunken parents died in a house fire. When Joe finds out about this tragic event, he reacts by stating that "My father destroyed my mother; my mother inveighed against my father. Thank God they are dead"(4). By reading this, a reader can come to the conclusion that Joe despises his parents, doe s not care that they are gone, and has no appreciation for his life or anyone elseÃ¢â¬â¢s. If he appreciated life, then he either would have felt sorry that the parents he hates lost their lives or he would have been thankful for not being in the fire. But Joe did not express any of these emotions; therefore meaning that he does not appreciate life. This ungrateful and unappreciative attitude of his, however, does not last. A number of life-threatening and mortal loss events happen to him. All of these events are the beginning stages to changing JoeÃ¢â¬â¢s outlook on life. They leave strong emotional and mental impacts on him, and force him to understand how to appreciate the life he is granted with. For example, it begins with the Mary incident. One summer Joe stayed at Ade JohnÃ¢â¬â¢s house and there they met a young, innocent girl named Mary. Appreciation Due to Death :: Life Dying Essays Appreciation due to Death Since the day the first man was created and then destroyed, a theory about life has been made. Everyday people take their lives for granted. But after they have faced mortal loss or life-threatening situations, their attitude towards life changes. They soon come to understand that the gift of life is to be appreciated and not taken for granted. Yulisa Amadu Maddy and T.S. Eliot are two writers who through their literature prove that death can change a personÃ¢â¬â¢s outlook on life. Both of these authors, however, express this theory differently. For instance Maddy, author of No Past, No Present, No Future, portrays this theory through the life stories of three very different African boys. Whether it is someone they care for or themselves, each one of these boys, throughout their life, is confronted or threatened by death. The story of Joe BengohÃ¢â¬â¢s life is one example of how Maddy shows that death can teach a person to appreciate life. Maddy begins JoeÃ¢â¬â¢s life story by showing readers his attitude towards life. He portrays it as an unappreciative and non-caring attitude. A reader knows this because in the beginning of the book Maddy describes how JoeÃ¢â¬â¢s drunken parents died in a house fire. When Joe finds out about this tragic event, he reacts by stating that "My father destroyed my mother; my mother inveighed against my father. Thank God they are dead"(4). By reading this, a reader can come to the conclusion that Joe despises his parents, doe s not care that they are gone, and has no appreciation for his life or anyone elseÃ¢â¬â¢s. If he appreciated life, then he either would have felt sorry that the parents he hates lost their lives or he would have been thankful for not being in the fire. But Joe did not express any of these emotions; therefore meaning that he does not appreciate life. This ungrateful and unappreciative attitude of his, however, does not last. A number of life-threatening and mortal loss events happen to him. All of these events are the beginning stages to changing JoeÃ¢â¬â¢s outlook on life. They leave strong emotional and mental impacts on him, and force him to understand how to appreciate the life he is granted with. For example, it begins with the Mary incident. One summer Joe stayed at Ade JohnÃ¢â¬â¢s house and there they met a young, innocent girl named Mary.
Sunday, November 10, 2019
How would you feel a day without using any technology? Living without technology will be totally impossible as this has become every dayÃ¢â¬â¢s application as more and more people are gaining knowledge on how to make use of the communication tools to improve their ways of living and staying informed on the current technology to avoid being left behind. New technologies are being developed daily which shows that the industry will continue to grow and expand. People will continue using these technologies to improve their standards and to stay informed. Technology has influenced us in so many positive ways, from providing cellphones that can be used in the house, to around the world and provide so many other great features. With technology advancing every day the Market comes out with new phones with the latest styles. Now days a flip phone would be considered perhaps the plainest phone there is out there. When I was in elementary school I remember the first cell phone I saw was a medium grey phone that has a simple green background screen with black font. Couple months later, I recall my uncle buying a gray flip phone. This cell phone had a camera and had color. I thought it was way nicer then the first phone I had seen. As we see now flip phones are out, and the market hits us with more and more advanced phones. Like for example the touchscreens, androids, and the iPhoneÃ¢â¬â¢s. As all this technology advances we want to get the latest and ask for more. Around the early 2000Ã¢â¬â¢s middle school students were rare to have cellphones. If we take a look now we see the elementary children even have cell phones. This has changed a lot throughout the years. My older sister which is now 23 years old never had a cell phone while living at home. I received my first phone when I was in 9th grade. My younger sister which is only 12 years old got her cellphone when she was started 6th grade. As we can see even the younger ones want the latest. thanks
Friday, November 8, 2019
Marijuana is good essays Mairjuana is a drug that has been with us for quite awhile. It was used in ancient China and India for pain relief, tension relief and anxiety problems. Over the course of time, the drug made its way from other countries, such as India and China, and came to the US. A user of this drug will feel the effects anywhere from a few seconds of smoking it to about ten minutes. Its chemicals go into the lungs, then get dispersed into the bloodstream. The user then gets a feeling of being high or stoned. After these effects wear off the user is left feeling tired, hungry, lazy, weary, unmotivated, and a little depressed. This is the burnt stage. It can take up to a week to get the entire effect from the drug out of your system. Marijuana is a plant, and like any other plant needs special cares and needs to get the plant grown. Different fertilizers, soils, and nutrients are used to grow a plant. The better one takes care of the plant, the more potent the product from that plant will be. In the 19030s the government classified marijuana as a schedule I drug. Other schedule I drugs are; Heroin, Peyote, Mescaline, and LSD or Acid. A definition of a schedule I drug is one that is dangerous, likely to case harm, and lacking perceived medical use. Since then marijuana users have faced jail time, community service, and/or expensive fines. Marijuana is used today to relax people and/or around other people to enhance a social event. It is ninety percent of the time smoked both by being placed in a bowl or bong, or it can be rolled up in cigarette papers and smoked like a cigarette. It also can be cooked into different foods to digest the drug. This produces the same effect, it just takes longer to kick in. Marijuana can cost anywhere from forty to nine-hundred dollars an ounce. It is usually packaged in plastic bags. Annually we spend roughly 1.3 million dollars on this illicit drug. When one uses this drug for an e...
Wednesday, November 6, 2019
Graham Anderson 2/07/02 William Bradford vs. John Smith It does not take close scrutiny to see that both John SmithÃ¢â¬â¢s essay Ã¢â¬Å"A Description of New England,Ã¢â¬ and the excerpts from Of Plymouth Plantation, by William Bradford, are both a collogue of elaborated ad dilated truths. Obviously, one cannot Ã¢â¬Å"kill in one day with his hook and line one, two, or three hundred codsÃ¢â¬ ¦Ã¢â¬ as John Smith stated on page 21. Or overlook the exaggeration of William Bradford when he said about the Indians Ã¢â¬Å"the barbarians showed them no small kindness in refreshing them, but these savage barbarians, when they met them were readier to fill their sides with arrows than otherwiseÃ¢â¬ ¦Ã¢â¬ One must in this reading look to all sources and beneath the covering of opinions to find the real truth. Looking at these writings it must be taken into consideration that both men were writing from different perspectives, and for different reasons. William Bradford for instance, had just come ashore to an unknown land during the height of winter. After completing a three month voyage with roughly 120 people on a ship that was only 90 feet long and 23 feet wide, and loosing his wife along the way, an ill outlook on life is better a state than many would have in his situation. Later on however, Bradford makes another statement saying that Ã¢â¬Å"others were exercised in fishing, about cod and bass and other fish, of which they took good storeÃ¢â¬ ¦Ã¢â¬ and Ã¢â¬Å"besides water foul there was great store of wild turkeys, of which they took plentyÃ¢â¬ ¦Ã¢â¬ page 20. It seems that Bradford made his comments too quickly, and turned his judgment another way. John Smith wrote in his essay on page 21, Ã¢â¬Å"Here nature and liberty afford us that which in England we want, or it costs us dearly.Ã¢â¬ In his essay Smith elaborates thickly upon small truths to get his sales pitch heard. Luckily for him readers in England at the time knew only what they heard from d... Free Essays on William Bradford Vs John Smith Free Essays on William Bradford Vs John Smith Graham Anderson 2/07/02 William Bradford vs. John Smith It does not take close scrutiny to see that both John SmithÃ¢â¬â¢s essay Ã¢â¬Å"A Description of New England,Ã¢â¬ and the excerpts from Of Plymouth Plantation, by William Bradford, are both a collogue of elaborated ad dilated truths. Obviously, one cannot Ã¢â¬Å"kill in one day with his hook and line one, two, or three hundred codsÃ¢â¬ ¦Ã¢â¬ as John Smith stated on page 21. Or overlook the exaggeration of William Bradford when he said about the Indians Ã¢â¬Å"the barbarians showed them no small kindness in refreshing them, but these savage barbarians, when they met them were readier to fill their sides with arrows than otherwiseÃ¢â¬ ¦Ã¢â¬ One must in this reading look to all sources and beneath the covering of opinions to find the real truth. Looking at these writings it must be taken into consideration that both men were writing from different perspectives, and for different reasons. William Bradford for instance, had just come ashore to an unknown land during the height of winter. After completing a three month voyage with roughly 120 people on a ship that was only 90 feet long and 23 feet wide, and loosing his wife along the way, an ill outlook on life is better a state than many would have in his situation. Later on however, Bradford makes another statement saying that Ã¢â¬Å"others were exercised in fishing, about cod and bass and other fish, of which they took good storeÃ¢â¬ ¦Ã¢â¬ and Ã¢â¬Å"besides water foul there was great store of wild turkeys, of which they took plentyÃ¢â¬ ¦Ã¢â¬ page 20. It seems that Bradford made his comments too quickly, and turned his judgment another way. John Smith wrote in his essay on page 21, Ã¢â¬Å"Here nature and liberty afford us that which in England we want, or it costs us dearly.Ã¢â¬ In his essay Smith elaborates thickly upon small truths to get his sales pitch heard. Luckily for him readers in England at the time knew only what they heard from d...
Sunday, November 3, 2019
Conflict - Essay Example Confidence is one of the key principles that guide my conflict handling approach. I always try my best to exude high level of confidence in dealing with conflicting issues. The major step towards having confidence is to evaluate the situation at hand, approach it with calmness and composure and have an open-minded approach (Kellett, 2007). While handling a conflict, I always fight the negative overtones to ensure that I do not appear fearful or panicky, while getting ready to compromise in the event it is necessary to do so that to achieve the conflict resolution. Therefore, one of the main strengths in handling conflicts is trying to control emotions and display confidence, which serves to show the other party that one is able to resolve the issues at hand, otherwise one may send out a message of weakness in a conflict situation (Dana, 2001). Another of my strength that works well in handling conflicts is open-mindedness, which allows me to approach a conflicting situation aware tha t there are different ways of bring the conflict to a resolution, and thus prepare for any of the ways. open-mindedness is a crucial approach towards resolving a conflict, since it opens various avenues through which individuals can handle the conflict, as opposed to rigidity, which makes individuals to approach a situation with only one expectation, an aspect that makes conflict resolution even harder, and may even accelerate the conflict, since rigid individuals do not leave any chance of compromise and negotiation (Lansford, 2008). Another of my strength in conflict resolution is the fact that I am considerate. This is an important character in conflict resolution, since it allows me to put into consideration all the issues that the other parties to the conflict are raising, and effectively come up with an agreement that is favorable to all the parties. Nevertheless, there are several areas that I need to enhance, to become well equipped for conflict handling. One such area is to lerance. I have very little tolerance for arrogance, something that can make me react without sufficient consideration. This ends-up creating even more problems. Therefore, tolerance to arrogance is one of the areas that I require to enhance, so that I can react calmly to people who are arrogant, since calmness and tolerance are major milestones towards conflict resolution (Tidwell, 2001). Another area that I need to enhance is patience. Whenever a conflict arises, I have the tendency of seeking for an instant solution, other than giving the whole situation time, and reverting to address it later. This has always made conflict resolution an onerous task for me, since being haste means that the people involved in a conflict will handle it out of their emotional imbalance, thus may not easily come to an amicable solution. While individuals take time to cool off and then handle a conflict, there are higher chances of getting to an agreement, since both parties are calm, sober and willi ng to listen, as opposed to where individuals are handling conflict with feelings of anger, resentment and emotional instability (Wandberg, 2001). There is a great need of taking personal responsibility for ones feelings (Kellett, 2007). This is because, taking responsibility means that an individual is in a good position to control their feelings, while also reasoning and considering other partiesÃ¢â¬â¢ points of view (Lansford, 2008). This makes it easy to reach an agreement and
Friday, November 1, 2019
The International Accounting Standards Board (IASB) - The International Corporate Reporting Issues - Assignment Example Wood and Sangster (2008) highlights that the IASC was initially founded by an AccountantÃ¢â¬â¢s International Study Group particularly in 1973. The IASB is an international but independent accounting setting body. Soon after becoming the international accounting standards setting body, the members of IASB finalized and decided to discuss, develop, in the global public interest, a single set of high quality international accounting standards. (About Us, n.d.). However, as IASB is UK-based and its standards are mostly applied to the UK based corporations, the U.S. corporations follow the accounting standards by the Financial Accounting Standards Board (FASB). The globalization and increase in cross border transactions necessited both boards to work closely and issue collective international accounting standards. This process begins the convergence between the IASB and the FASB particularly in 2002 Norfolk agreement, where both regulatory bodies developed a consensus to develop and is sues a set of high quality compatible standards (Carmona and Trombetta, 2010). However, there exist various challenges that make it substantially difficult for the both bodies to ensure the global but uniform application of the international accounting standards. ... Since the IASB possesses no legal backing to implement its own developed international accounting standards, it would be substantially difficult for the IASB to ensure and monitor the global recognition and uniform application of the IFRS. Ironically, soon after the establishment of the IASC in the United Kingdom, the foundation of the FASB took place in the U.S. it would not be incorrect to say that the creation of the FASB was a counter measure to the existence and function of the IASC. Moreover, in the same year 1973, the FASB developed and drafted its own accounting standards and issued within the United States. Consistently, the FASB has been developing the Generally Accepted Accounting Practices (GAAP) as a counter measures for the IASs being produced by the IASB till the year of 2002. Furthermore, the FASB works as a competitor to the IASB. Both have agreed to the IFRS would be implemented in the United States of America by the end of 2015. This is an endeavour to introduce th e global uniform application and practice of the IFRS and this would bring a forward step toward the attainment of the global application and practice of the international accounting frameworks and standards. However, this global and uniform application received a severe blow when the FASB independently and separately outlined, developed and published its own vision on how to carry out the process of reforms in the accounting of financial instruments (Veron, 2010). Also, the IASC Foundation has been widely criticized on its approach towards entertaining its mission. In this regard, the European banking sector highlights its reservations over the certain announcements of the IASC. Consequently, it has heightened hostitlity between the two; the hostility becomes
Wednesday, October 30, 2019
1 - Assignment Example It is the very essence and nature of human geography that informs us that the greater the distance a product or service must travel, the less likely the trip will be made. Demand must be sufficient enough to justify the time, effort, and expense. If demand for a product or service is relatively low, and there is not access to those products or services nearby, then it is likely that demand will not be met. If, however, there is a surplus of goods or materials in area that causes demand to easily be met, suppliers will look for viable transport routes to make their goods available to other markets where demand exists (Hesse 75). Finally, before we get this particular case study, it is important to understand that, no matter what the demand for a good or service may be, adequate transferability must exist. If a product is in high demand in a rural area of the world, for example, suppliers must still consider the feasibility and logistics of transporting goods there. There is the human safety to consider, plus the expense to do. If the expense involve in getting a good or service to such an area causes the demand to then weaken, it will likely be determined that the effort is simply not worth it (Zolnik 338). The issue here is whether or not sand and gravel operators in Sault Ste. Marie should begin to use their trucks to deliver their products to Southern Ontario, where prices might be higher. On the surface, businesses would always seem to desire to sell their product for the highest price possible. Spatial interaction, however, teaches us differently. Large trucks, for example, are expensive to maintain. The fuel alone makes traveling long distances cost prohibitive in many circumstances. In order for the gravel operators in Sault Ste. Marie to justify the trip down south, they must be able to account for these extra
Monday, October 28, 2019
Sample Questions Essay 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 Ã¢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 Ã¢â¬âeconomic includes the theory of income and employment at an individual level. (a)True (b) False 8 Rational decision results inÃ¢â¬ ¦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 productÃ¢â¬â¢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 inÃ¢â¬ ¦ 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 productÃ¢â¬â¢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 elasticityÃ¢â¬â¢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 buyerÃ¢â¬â¢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 elasticityÃ¢â¬â¢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 productÃ¢â¬â¢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 elasticityÃ¢â¬â¢s are negative b. income elasticityÃ¢â¬â¢s are positive. c. cross elasticityÃ¢â¬â¢s are positive. d. cross elasticityÃ¢â¬â¢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 Ã¢â¬Å"pureÃ¢â¬ 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 operationÃ¢â¬â¢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¬ ¦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¬ ¦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 AlbertÃ¢â¬â¢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 AlbertÃ¢â¬â¢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 producerÃ¢â¬â¢s equilibrium is now explained with the help of Ã¢â¬ ¦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 forÃ¢â¬ ¦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 intoÃ¢â¬ ¦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 inÃ¢â¬ ¦Ã¢â¬ ¦.. a. output b. input c. both(a) and (b) d. None of these 12 The Ã¢â¬ ¦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 industryÃ¢â¬â¢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¬ ¦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 firmÃ¢â¬â¢s marginal cost curve that lies above the Ã¢â¬ ¦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 HouseÃ¢â¬â¢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 entrepreneurÃ¢â¬â¢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¬ ¦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. Ã¢â¬ËRealÃ¢â¬â¢ 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 2005Ã¢â¬ ¦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¬ ¦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¬ ¦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% inÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦ (a) April of 2009 (b) April of 2010 (c) April of 2011 (d) April of 2012 6. The function of money that helps assess the opportunity cost of an activity is 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 leatherÃ¢â¬â¢ costs (c) Long-run Phillips curve (d) Ã¢â¬ËMenuÃ¢â¬â¢ costs 9. The inflation rate is used to calculate the real interest rate, as well as real increases in wages. (a) True (b) False 10Ã¢â¬ ¦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 Ã¢â¬ ¦.. 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 ofÃ¢â¬ ¦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)