A Good Manager Essay

Managers can use humor and give their employees small tokens of appreciation for work well done. Also, when leaders themselves are in good moods, group members are more positive, and as a result they cooperate more. 127 Finally, selecting positive team members can have a contagion effect because positive moods transmit from team member to team member CASES Emotions and positive moods appear to facilitate effective decision making and creativity. Recent research suggests mood is linked to motivation, especially through feedback. Leaders rely on emotions to increase their effectiveness. The display of emotions is important to social behavior like negotiation and customer service. The experience of emotions is closely linked to Job attitudes and behaviors that follow from attitudes, such as deviant workplace behavior. Our final managerial implication is a question: can managers control colleagues’ and employees’ emotions and moods? Certainly there are limits, practical and ethical. Emotions and moods are a natural part of an individual’s makeup. Where managers err is in ignoring co-workers’ and employees’ emotions and assessing others’ behavior as if it were completely rational. As one consultant aptly put it, muff can’t divorce emotions from the workplace because you can’t divorce emotions from people. † 129 Managers who understand the role of emotions and moods will significantly improve their ability to explain and predict their co-workers’ and employees’ behavior. 1 . The first reason can be the diversity of people because not everybody has the same action and reaction; there are different kind of people who have different emotion and feelings. It will become harder to manage employees when the organization becomes bigger. In addition to these, as mentioned in the case the way of acting people’s business culture and etiquette sometimes can create ineffective managing environment. Applying wrongful behaviors like shouting when somebody did wrong work is the indicator of the poor managing. I think the emotions or reactions of people are related with their psychology but not their education level. A Good Manager By Miramar

Law and South African Education

The question here is whether the harm caused was unjustified in the circumstances. In the absence of wrongfulness (egg where there was no intention to harm) a defendant may not be held liable. 4 The act must be the result of fault in the form of intent (dolls) or negligence (culpa). Fault refers to the blameworthy attitude or conduct of someone who has acted wrongfully. (4) There is a causal link between the conduct of the perpetrator and the harm suffered by the victim. In general, it should be shown that the person's injury did result from the actions of the person charged with negligence.In other words, there must be a clear causal relationship between the act and the injury. A person cannot be liable if he or she has not caused any damage. (5) delicate is a wrongful and culpable act which has a harmful consequence. Damages (causing harm) in the form of patrimonial (material) loss or informational loss must be present. There must be a connection between the negligent conduct and t he injury (physical or mental). To receive an award for damages, a plaintiff must have suffered an injury as a result of the defendant's negligent conduct. The plaintiff must prove that some damage occurred.Although the injury or damage does not need to be bestial for an award to be ordered, the injury must be real rather than imagined. The courts are generally reluctant to award damages where there is not some form of injury. Educators may be found guilty of negligence if they fail to provide proper supervision fail to aid the injured or ill permit learners to play unsafe games fail to provide adequate instructions take unreasonable risks fail to organize field trips properly All these elements must be taken into consideration when answering the question. Ask questions such as, who was wrong, who is liable and why?Support your answer tit the requirements for dedicate liability as stated above. TOEHOLD/202 5 Question 2. 2 Comment on the possibility of â€Å"contributory fault† on the part of the learner. In this case negligence is one form of fault. A negligent educator might not be held liable if a learner contributed to the injury by his or her own negligence. In other words, if a learner fails to exercise the degree of care usually expected of a person of that age, knowledge and experience the court may decide that owing to the learner's contributory negligence/fault, the educator is not solely liable for damages resulting from an injury by his or her act.Contributory negligence could be important in situations involving older learners, especially if such learners understand the full implications of their actions. On the other hand, young children cannot be expected to fully comprehend the consequences of some of their actions and behavior. Comments: There have already been a number of cases involving sport in South African legal history. The principles of the law of delicate apply to sport as they would to any other scenario in society.This would re late to 3 possible areas, namely, personal injury, violence and spectator injury The law of delicate is a section of private law. This branch of law deals with civil wrongs against another person that cause the injured party to go to court to seek compensation from the wrongdoer for damages. If an educator creates a potentially dangerous situation, and then fails to remove the danger, which then results in loss or damage being caused to another, he/she will be held liable for such loss or damage.A legal duty rests on the educator to prevent the potential danger from becoming a real danger. A delicate has 5 key elements that must be present. These are: (a) An act; (b) Wrongfulness; (c) Fault; (d) Damage/Loss (e) Causation. Each of these elements must be present before a person can be held liable in delicate. 6 In participating voluntarily in a game, the victim therefore consents to the possibility of injury and limits the possibility of pursuing a dialectal claim. Thus, contributory negligence involves some form of fault (in the form of negligence) on the part of the injured person.The injured person failed to exercise the required standard of care for his or her own safety. Contributory negligence comes into play when conduct on the part of the injured person contributes to his or her injuries. When the court has to determine the damages, it will reduce the damages apportioned to the plaintiff in proportion to his or her own fault (e. G. Contribution to his or her own injuries) In , the law does not expect educators to anticipate every accident, but I them to behave as reasonable people.It is easy to anticipate the poss. of an accident involving educators and children if a group of children supervised, if a minibus that transports children is not maintained or equipment is not properly stored. Only in the case of a truly unexpected be possible to assert that it was not reasonable to foresee harm. To educator can reasonably be expected to foresee dangers and an ticipate depend on the facts of the case and on the circumstances (e. G. The n school activity, the location of the school or the age of the learners).In you will need to be able to: define and explain education and legal concepts and principles identify and explain the purpose of important legislation discuss and interpret the relevant sections of the South African Echo discuss and apply common law principles to practical situations (egg t natural Justice, memo dudes in USA cause and stare decides principle) illustrate your answers by referring to examples from education practice 2. 4 Reading and interpreting questions

Importance Bookkeeping Essay

In business, there are many factors that must be considered in order to ensure that they business is on the right track, specifically in financial matters. One of these is the aspect of bookkeeping. This paper discusses the importance of bookkeeping and will discuss laws that govern accounting aspects. Importance of Bookkeeping Bookkeeping is one of the most important aspects in financial management. It is the process of recording the financial transactions made by the company and considered as the first basic step of accounting context. Bookkeeping is important because it will definitely help you in terms of monitoring how the company is going daily, weekly and monthly. It is essential since it will help the company organize the financial transaction records which include the receipts, checks, canceled, cash disbursements and sales. The bookkeeping approach makes sure that the financial aspects are organized and balanced and enables the company to know where their money and other financial matters are going. Having this kind of bookkeeping is noted to be one of the vital keys for having successful business. A lost receipt is equivalent to lost deduction which may result for more money to be paid out in taxes. Having good bookkeeping can help the business save more financially. In addition, having organized, accurate and balanced bookkeeping records also allows the company to gain more trusts from different investors and lenders in the long ran since they will be able to see complete financial data before providing you with your needs. In addition, bookkeeping records is also important to manage the financial status of the entire business and to keep track of what is happening to the company financially. Governing Laws in Accounting In order to know that accountants are doing their jobs accurately and organized with correct information, different authorities has been able to formulate and establish accounting laws which should be followed by different companies and industries. Most accounting laws aims on restoring faith from different stakeholders. Accounting laws varies on different nations and each of the government tries to impose laws to serve as a standard model for different companies in making their accounting statements. One of the laws or policies in accounting is the international accounting standards. Being able to know the significance of financial accounting and reporting, scholars have standardized financial accounting and established the International Accounting Standards committee (PricewaterhouseCoopers, 2002). The IASC known today as International Accounting Standard Board (IASB) has been able to establish the International Financial reporting Standards. The IFRS has been applied in the global contexts and Europe, US and other countries try to follow the new standardized and harmonized accounting policies. IFRS policies and laws are generated to apply to general objective of the financial statements and other financial reporting of different industries. This governing laws permits different business entities to report their financial accounting and statements with more disclosure. The purpose of these governing laws is to create fair value for all involved stakeholders in the financial statements. Reference Price Water House Coopers (2008). Online available at https://www. pwc. com/gx/eng/about/svcs/corporatereporting/IFRSforSMEs. pdf Retrieved on December 12, 2008

BP Russian Case Analysis Study Example | Topics and Well Written Essays - 1500 words

BP Russian Analysis - Case Study Example While partnerships are vital for the success of an organization, they may become sources of business failure if their construction is not efficient. BP Russia is one of the companies that have engaged in partnerships that have undermined its potential to grow and take advantage of the market. An analysis of BP Russia will reveal the various aspects of partnerships that determine its failure or success and the way organizations can benefit from such business partnerships. BP proposed an alliance with Rosneft as part of the organization commitment to take advantage of mergers to increase organization productivity. The proposed partnership between BP and Rosneft would have numerous benefits if successful. The main aim of the strategic alliance was to use a collaborative approach on the development of oil reserves of the Kara Sea in the Russian Arctic (University of Virginia 6). The first benefit of the alliance is that the two would have a greater financial worth, which would help to explore the Kara Sea in a more profitable manner. Since the exploration of oil and development of oil reserves is a costly operation, it is difficult for any organization to go it alone without a partnership. On this note, the alliance would allow BP to take advantage of the oil reserves, develop them and hence increase productivity, which means higher profits for both organizations. Secondly, BP had a long-term plan in the terms of the partnership. The terms of the strate gic alliance was that BP secure 9.5% of Rosneft bringing its total share of Rosneft at 10.8%. This share swap condition would have a long-term benefit for BP Russia. Increasing its share value in Rosneft would be an increase in its share value. On this note, it is possible to term the strategic alliance as a worthwhile development strategy for BP Russia. On the other hand, managers must be aware that there are always implications for success or failure of a partnership. The success of the BP-Rosneft alliance would

Journal Article Annotation Essay Example | Topics and Well Written Essays - 1000 words

Journal Article Annotation - Essay Example The research undertaken by Thro (2007) have clearly emphasises the perception of the faculty in the American universities on academic freedom that is drawn to two different poles. Some of the members categorically says that the academic freedom is purely a constitutional myth while others opinion that it certainly is a practical reality. The author has tried to evaluate this from the functional point of academics rather than from the education and learning component in it. The findings of the research says that any institution that tried to infringe the operational freedom the faculty would soon find the lose the service of this faculty due to the lack of flexibility given to the teacher. Never in the article author tried to relate the myth and reality of freedom with the educational process . Unless these issues are assessed in the context of the entire educational process involving both teaching and learning the results and recommendations would tend to be highly skewed and prejudi ced. Thus the research on education and freedom need to explore more fundamental issues in the process involving the teacher and the taught rather than analysing the academic freedom from the faculty perspective alone. The technological development have created a huge impact on the education and the freedom prevailing on the learning process in the university campuses. The presence of online resources and excellent networks across the departments and centres have resulted in redefining the teacher -student relationship which have influenced the extend of freedom in the educational process. Availability of online resources like e-books, videos and audio files have taken the learning process beyond the walls of class rooms and eliminates highly differentiated class room experience. These initiatives have been found to be very effective in the curriculum planning of the humanities courses too. The research study reported have established the

Health Promotion Practice Essay Example | Topics and Well Written Essays - 3250 words

Health Promotion Practice - Essay Example From the overweight children, 25% had been classed as obese and prone to chronic disease and disabilities. The likelihood of obesity having multiple predictors for illness is high. The escalation of Type 2 diabetes, heart disease and a variety of other co-morbidities before or during early adulthood is expected to interfere with the normal life of the obese child. Sleep apnoea, arthritis and other disorders of bones, joint disorders and cancer have also been associated with obesity. Low self-esteem is another significant problem and may require appropriate psychological approach. A shorter life expectancy is inevitable in addition. The issue having become a global one, it is really urgent that measures are taken to prevent overweight and obesity. A collaborative effort on a war footing needs to be undertaken to find a rational solution. Where previously the issue was descriptive of children from wealthy families, recent discovery has been made that economy and geography have little t o do with the obesity. With all this in mind, I opted to join MEND, a program working for reversing the child obesity issue on an international basis. Epidemiology The problem is caused by a â€Å"mathematical† difference in the intake of energy as calories and expenditure of energy. Increased intake could be more than the needed requirement for the bodily functions. This could cause obesity. Similarly if the expenditure of energy in the form of exercise is not possible, an accumulation of fat again occurs in the body. This accumulating fat causes obesity and overweight. Either the intake has to be reduced or the expenditure increased to balance the calories being utilized in the body. The obesity is measured as the BMI or body mass index in the project. This is the ratio of the weight in kilograms to the square of the height in metres. Overweight and obesity have been defined as leading health indicators by the Healthy People 2010. This programme intended to reduce the child hood obesity incidence by 5% in the US. The significance of the issue in Wales Wales has had its fair share of the problem following the recession. The Welsh Health Survey had indicated that 3% in children under 16 were classified as obese. (Brindley, 2010). Wales held a high position in the childhood obesity league, with nearly one in five children being classed as obese. As a possible result of the recession, more families were looking or switching to cheaper foods which tended to be more processed and contained high levels of salt, fat and sugar (Brindley). The number of adults classed as overweight or obese had been increasing gradually over the last ten years. These results were from the annual survey. Health experts in Wales were raising concerns over children’s long-term health should obesity continue to rise unchecked (Brindley). The significance of the issue in Wales had motivated the government to plan strategies for containing the problem. For all of these reasons, the UK government set up the MEND program to decrease the incidence of these problems and protect the children’s health so that they live a healthy life. Furthermore, it was in the financial interest of the government to fund these health promotion programs as preventive work with childhood obesity was far cheaper in the long run. Dealing with the costs of health care of obesity-related health conditions could be expected to show shocking skyrocketing figures. Health promotion included activities which were

Financial risk management Essay Example | Topics and Well Written Essays - 250 words

Financial risk management - Essay Example man Sachs bank saw its profits decline due significant losses being realized from large subprime write downs which were followed by mortgage crisis meaning beneficiaries were unable to pay. The short selling of subprime mortgage securities to Lehman Brothers is blamed to have worsened the financial crisis to the detriment of both institutions. As a result, the bank approached the federal government for a bailout under the troubled asset relief programme (TARP). Since the loan came with high interest rates and short repayment period, the bank’s financial condition worsened and become highly geared. In summary, Goldman Sachs financial crisis can be classified as threefold, that is, financial malpractices among traders and top executives in trading mortgage securities (operational risk), mortgage industry crisis/ risks and high financial leverage. Risk management theories that can be used to explain the crisis an offer insights into possible solutions are discussed hereunder. Weinberg (2007) noted that the bank relied on incomes from trading to maintain its profit growth which was risky. Therefore, the bank should have maintained a prudent model to monitor the value at risk (VaR) for securities being traded. VaR model shows the maximum estimated loss for a portfolio factoring market related risks at a given time horizon (Esch, Kieffer and Lopez, 2005). Capital Asset Pricing Model (CAPM) would also have helped the bank to understand the behavior of capital markets and possibilities of excess, negative and optimal return on a portfolio by analyzing the securities market line (Elton et al., 2010). Brownian motion model of financial risk management though highlights useful risk strategies useful under normal circumstances was found to fail in providing rational understanding of financial turmoil (Borma and Sharma, 2011). Boma, S. & Sharma, D. (2011). â€Å" How much trust should risk managers place on â€Å"Brownian Motions† of financial markets?† International Journal

The war between US an Iraq 2003 Research Paper Example | Topics and Well Written Essays - 2750 words

The war between US an Iraq 2003 - Research Paper Example Other reports have also revealed that as a result of the war, debt reliefs have been offered to the country and the country has been released from the control of their dictator Saddam Hussein. This paper shall be a quantitative research paper with respondents from the Iraqi nation chosen randomly across various territories in the region. Major potential research findings for this paper include the fact that the Iraqi War has brought about economic hardships for the people, decreasing their employment rates, and worsening their poverty status. The war has also caused much political chaos through political infighting and major corrupt activities by government officials. Finally, it has also brought about difficulties in the delivery of health, educational, and social services to the people. On March 20, 2003, the world was witness to the second gulf war with the invasion of American troops in Iraq. War was launched against Iraq because of the latter’s alleged possession of Weapons of Mass Destruction (WMDs) which were in apparent violation of its terms of surrender in the wake of its Kuwaiti invasion in the early 1990s. Although inspections by the UN on Iraqi weapons depots and military institutions yielded no WMDs, US intelligence reports insisted that Iraq was in possession of such weapons. After a series of failed negotiations and after Iraq refused UN inspections in the early months leading up to the March invasion, the US troops were deployed into Iraq. In the days following the attack, the hunt for Iraqi dictator Saddam Hussein was also launched and in December, 2003, he was finally apprehended and charged with the execution of 148 Shi-ites in 1982. He was executed in December 2006 by hanging. In the meantime, US troops continued to occupy Iraq with the so le purpose of assisting the interim government in the management of insurgent activities in the country. A semblance of a US-initiated transition

Citizen Kane Essay Example | Topics and Well Written Essays - 500 words

Citizen Kane - Essay Example Citizen Kane, the movie employs a number of production features and elements thereby achieving effectiveness of communication as envisioned by the director. The director of the employs such elements as light, costume and characterization among others effectively thereby developing an appropriate context that best represents the society at the time. Produced in 1948 soon after the second world war, the film addresses themes relevant not only to the primary audience but also to other subsequent audiences including the communication 240 class, a feature that portrays the ability of the director to develop and communicate concepts effectively.Citizen Kane is yet another masterpiece in which the director employs different special film effects to earn effective communication. The director employs appropriate transitions from one scene to another thereby developing effective links through the different themes. Additionally, the director employs different camera angles and shots to reveal re lative details of the scenes, as he deems necessary. He does not use light only to illuminate his scenes but also to communicate, different aspects of the scene are lit differently with shadow balancing in order to achieve efficiency of communication. Such camera movements as tilting and panning help reveal detail in the different scenes. Italian neorealism refers to a movement in the film production characterized by using nonprofessional actors and setting the film contexts in poor neighborhoods. The bicycle film exhibits this throughout the story line as a poor father searching for his bicycle in a post war Rome.Relative film appeal arises from the level of professionalism that director employs in the development of the film and the issues that the film addresses. A film like Bicycle thieves may have limited appeal since it does not employ professionalism and addresses themes unfamiliar to the contemporary film audience unlike citizen Kane that the director strives to incorporate as many film production elements and professionalism as possible.The Birth of a Nation addresses realistic themes professionally; the director employs such features as dramatization and enabling characterization to help depict the ideas in the storyline. The effective creation of the film lies on the director’s ability to employ suc h elements as transitions, camera movement, shots, and angles to help provide detail (Mamer 33).The two films by Martin McDonagh appeared repetitive as the director employs the same stylistic features of production similarly. The lack of originality in the creation of the film thus denies them efficacy.Quentin Tarantino is a great producer who understood the business in film; he addresses themes that sell and does so effectively. His ability to infuse the violence in systematic storyline is artistic; furthermore, he uses diverse film production techniques to result in original masterpieces.

Foreshadowing in John Steinbecks Of Mice and Men Research Paper

Foreshadowing in John Steinbecks Of Mice and Men - Research Paper Example Steinbeck himself cared deeply about the lives of migrant workers as evidenced by his compassionate tone and creation of complex characters struggling in a competitive society. Steinbeck combined styles of modernism and realism to explore the lives of people living in and traveling through Southern California. Steinbeck’s parents, a Monterey treasurer and a school teacher/stay-at-home mom, taught him a love of literature from an early age. Although he did attend Stanford University for three years, he left without completing his degree. These years, as well as his journalism job, provided the formative substance of his writing career for he worked and traveled throughout California as a short-term hired hand at mills, farms, and larger estates. During these years he came face to face with the resilience with which migrant workers faced their destitute, unstable lives. Throughout the rest of Steinbeck’s career he focused Name 2 on the plight of the underdog within an inc reasingly unfair, capitalistic world. He was awarded the Pulitzer Prize for his monumental novel, The Grapes of Wrath, focused on the dreams and tragedy of the Joad family, and for his combined works he was awarded the 1963 Nobel Prize. All of Steinbeck’s characters face issues equally derived from competitive social forces, the economic downfall known as the Great Depression, and the seasonal nature of the farming economy. The 1930s saw vast technological advances in farm machinery that drastically reduced the number of men needed to operate a farm. In 1900, about 125, 000 workers traveled from Minnesota to Washington searching for work, but by the 1930s the numbers of out-of-work men looking for positions had doubled. Farms were becoming corporate industries with the absent owners living in cities hiring managers to run the farms. Migrant workers, nicknamed â€Å"bindle-stiffs† as they packed up and followed the seasonal harvests, were severely underpaid, had no unio n or legal representation, or stable homes. In the later 1930s, violent strikes broke out in several areas leading to some improvements, yet most farm owners continued to treat their migrant workers as disposable. This lifestyle continued until World War II dramatically altered the lives of all Americans as itinerant workers had the option to enlist and the defense industry expanded to insure food rations for citizens and soldiers. Steinbeck’s social experience of living with migrant workers and journalistic knowledge of the economics of itinerant life greatly influenced his novella Of Mice and Men. The very title indicates the central question considering the value of life as it links the smallest burrowing creature’s life to the hopeful pride found in the positive view of Name 3 American manhood. The novella begins with George and Lennie on the run. They are escaping their recent post at a farm called Weeds where Lennie scared a young woman by inappropriately but inn ocently feeling her dress causing her scream as if she were being physically assaulted. This situation introduces readers to the roving nature of their farm work, Lennie’s inability to control his actions, and the tight protective relationship between these two men. These two protagonists create a symbiotic relationship as they feed each other’s dreams of a owning a farm while making their migrant life bearable. â€Å"

Criminal justice Essay Example | Topics and Well Written Essays - 500 words - 2

Criminal justice - Essay Example What affect has the courts had on inmate population and how it’s administered in the prisons? What type of action would be taken either short term or long term and why? Are cynical ideas common in corrections? How does this effect the criminal justice system as a whole? Is this cynicism present in other occupations and industries? Criminal Justice: Contemporary Problems Within the United States Corrections System The contemporary problems faced in the US corrections system today have given rise to the overcrowding within the current system. As an example New York’s prison system (Rockefeller Drug Laws, 2001) has not kept up with the enormous increase in numbers of inmates. There are not enough programs to keep prisoners occupied, which results in idleness and increased tension levels. Expense is another factor that faces the correction system. In New York alone it costs 2 billion to construct the prisons to house the increasing number of drug offenders. The operating ex penses for maintaining the prisons comes to nearly $700 million per year. The increased number of drug related incarcerations have created racial inequities within the corrections system. Increasing number of African-American and Latino population have made up 70 percent of the prison population (David Swanson March 2010).

How to Play Basketball Essay Example for Free

How to Play Basketball Essay In order to play basketball, you need one basketball and two basketball hoops on opposite ends of the court. The hoops should be ten feet high. In an original game, you should form two teams of five individuals apiece would be the requirements. If a court just so happens to be full or fewer players are available, a game with one hoop can be played using alternate rules. The object is for you to score more baskets than your opponent. You should play a typical game for sixty minutes with four fifteen-minute periods, but you really can determine the length yourself. For you to start the game, the wo teams you formed, line up around the two centers. Each of your players matches up against another based on height and skill to make it fair. The referee throws the ball straight up and the two of you who are playing the position center, jump up to gain possession. The goal for you is to tip the ball to your teammates to gain possession. Remember Basketball is much as an offensive game as defensive game. When you have the ball, all of the members of your team are on offense. On offense you are trying to score points by shooting the ball into the opposing teams basket. Each basket your team scores is worth two points. Baskets scored outside the three-point line (an arc-shaped line beyond the free throw line) are worth three points. On offense you need to advance the ball, you can advance the ball in two ways: by passing and dribbling. First Dribbling, you need to take the ball and bounce it on the floor in a continuous motion. This is the process of dribbling. You can move your feet and body in any direction as long as you are dribbling but if you move in any direction without dribbling the ball then that is a violation. The goal for your team on offense is

Historical Background Of The Upanishads Philosophy Essay

Historical Background Of The Upanishads Philosophy Essay The Upanishads are said to contain the essence of the Vedas and the Vedas are the source of the (no need for the here) Vedanta philosophy. They contain the spiritual experiences and revelations of sages, the Rishis. They are said to be the products of the highest wisdom, supreme divine knowledge, which was directly heard (shrutti) in meditation. Hence they stir the hearts of people and inspire themà ¢Ã¢â€š ¬Ã‚ ¦..They give supreme food for the soul  [1]  They are rich in profound philosophical thought and there is great depth of meaning in the passages and verses. They give a vivid description of the nature of Atman, the Supreme Soulà ¢Ã¢â€š ¬Ã‚ ¦ and expound suitable methods and aids to attain the Immortal Brahman, the Highest Purusha.  [2]  They have exercised considerable influence on the religion and philosophy in India. The Upanishads are regarded as the final part of the Vedas, and primarily discuss philosophy, meditation and the nature of God and form the core spiritual thought of Vedantic Hinduism. They are considered as mystic and spiritual contemplations of the Vedas, and are known as Vedanta (the end/culmination of the Vedas). Although the Vedas look outward in reverence and awe of the phenomenal world, the Upanishads look inward to the powers of human consciousness. Opinion differs as to the age of the Upanishads. Some Western scholars have fixed the age as 6th century BCE, but they do not belong to a particular period of Sanskrit literature. The oldest, such as Brhadaranyaka and Chandogya may date to the Brahmana period (roughly before the 7th century BCE) while the youngest may date to the medieval or early modern period. However, Sivananda would say they are dateless and eternal as they came out of the mouth of Brahman and so existed before the creation of the world. Shad means to shatter or destroy so by having knowledge of the Upanishads one destroys ignorance, and knowledge of Brahman is called Upanishad because it leads to Brahman and helps aspirants attain Brahman. Other schools of thought say Upanishad means sitting at the feet of the teacher. The Upanishads were not meant for the masses, as they contain the highest speculations of philosophy. They were only meant for the select few, who were seen as worthy to receive instruction initially from the rishis and later from the Brahmin teaching caste, hence the term Upanishad at first signified secret teaching or doctrine. The teachers integrated to become the Brhma Rishis. The Vedas were initially not written down but passed on orally, by chants and hymns. The Aryan migrants brought Sanskrit to India and so the Upanishads were eventually written down by the Rishis and Brahmin priests. Over 1000 have been recorded but Sankaracharya (8th century mystic who reawakened India to its spiritual herit age) is said to have collected together 108 Upanishads, which are summarised in his famous work The Viveka Chudamani. Of these the principal 10 Upanishads still studied today, are the Brhadarnayaka, Chandogya, Isha, Kena, Katha, Mandukya, Aitareya, Taittiriya, Mudaka and Prashna. The ancient rishis sought to understand the fundamental truths of mans being; the origins, the nature and the destiny of man and his universe, the meaning of life, the world and the relation of the individual to the supreme soul. They sought answers to these basic questions: who am I, what is the universe, whence are we born, on what do we rest, where do we go, are there such things as immortality, freedom, perfection, eternal bliss, everlasting peace, what is Atman, Brahman, or the Self, which is birthless, deathless, changeless, self-existent how to attain immortality or Brahman, what is the means of freedom from earthly bondage. The road to self-discovery is discussed in the Taittiriya Upanishad, which gives us rules for right conduct in our lives and advises If you are in doubt about right conduct, Follow the example of the sages, who know what is best for spiritual growth.  [3]  (chpt 11-v4). It tells us the body is only the outer layer surrounding our self, each layer less physical than the last: the physical sheath is made up of food (Pt 2, 2.1), the vital sheath is made up of living breath (3.1), the mental sheath is made up of waves of thought (3.1) and the sheath of wisdom is the intellect and within this is the sheath of bliss. Bliss is the heart, and Brahman the foundation. Those who affirm the Lord affirm themselves.  [4]  In the journey to discover who we are, the rishis looked at these states of consciousness (Brihadranyaka Upanishad chpt4). As awareness is withdrawn from these layers of consciousness it was discovered that the mind is not conscious, it is only an instrument of our consci ousness. If we were able to observe from within each state, would that be the knower, ie the self? In all creatures, all persons the Self is the innermost essence. Janaka asks who is the self and Yajnavalka replies: The Self, pure awareness, shines as the light within the heart, surrounded by the sense. Only seeming to think, seeming to move, the Self neither sleeps nor wakes nor dreams. This notion of the Self and Brahman being one is considered in the Katha Upanishad (chpt2-v20). Hidden in the heart of every creature exists the Self, subtler than the subtlest, greater than the greatest. They go beyond sorrow who extinguish their self-will and behold the glory fo the Self through the grace of the Lord of Love. A similar theme can be seen in the Isha Upanishad in its description of the Lord as being enshrined in the hearts of all. This seems to merge into a description of the Self culminating in v8 He it is who holds the cosmos together. The question of attaining immortality or Brahman is discussed in the Katha Upanishad, where we have a teenage boy (Natchiketa) as the student and Death (Yama) being the teacher. This studies the notion of reincarnation, wherein Natchiketa is sacrificed to death by his father but Natchiketa is granted three wishes, one for each of the three nights he has spent in the house of Yama (Pt 1-chpt1-v9-29. Natchiketa asks that when he is reincarnated his father will recognise him, secondly that he wants to remember what has gone before, he doesnt want to lose prior knowledge and thirdly he wants to know for certain if his sole really exists after death. The answer is to renounce passing pleasures and seek wisdom (chpt2-v3-4). Death says, The truth of the Self cannot come through one who has not realised the Self  [5]  , so self-realisation is the key. The ignorant believe that when the body dies, they die. This is further expounded by the Mandukya Upanishad which teaches us the need for knowledge through awareness and how this can be passed on through teachers. There are two types of knowledge, that taught through study, or lower knowledge, and the higher knowledge which leads to self-realisation, through mediation those who are pure in heart, who practice meditation and conquer all their senses and passions, shall attain the immortal Self.. The Prashna Upanishad also tells us after the sage Pippaladas explanation of where we come from (qu1-v4-10), that those who meditate, seek wisdom, self-discipline and faith in God will travel after death to the Supreme refuge, beyond the reach of fear and free from the cycle of birth and death. This Upanishad concludes with the question Do you know the self? (QuVI-v1) and Pippaladas summary describes the sixteen forms of the self within the body and that one must realise the self so that these sixteen forms disappear. Then there is no more name or form for us as human beings and we attain immortality. The self is the paramount goal of life. Attain this goal and go beyond death. (QuVI-v) iii) Where did I come from? This question is posed by the Kena Upanishad: by whom? Who makes my mind think?who sees through my eyes and hears through my ears? The teacher replies The Self is the ear of the ear, the eye of the eye and the mind of the mind.. This Upanishad is about knowing Brahman yet how can this not be an impossible task for the average man? How can we possibly conceive of understanding something so abstract and inscrutable? Yet we are urged to try: It is the power of Brahman that makes the mind to think, desire, and will. Therefore use this power to meditate on Brahman. (chpt4-v5-6) However, it seems we are compelled to continually ask questions without questions we cannot develop. What gives us this desire to know, to attain self-realisation? Easwarans interpretation of this question is: by whom impelled do all the motions of life stir?  [6]  Easwaran also quotes Shankara, By whose mere presence does that desire arise which moves the universe? Swami Vishnudevananda says just as the perception of things in the gross world is impossible without light, so knowledge of self cannot emerge other than by inquiry. Who am I? How was this universe born? What is its cause?  [7]  Just as mans quest for enjoyment finds that joy is within himself, knowledge will never be complete until he turns his vision inwards. The Upanishads tell us that all knowledge is in the self, and in fact, knowledge is self. That eternal knowledge of the self when reflected through the mind and brain of man becomes intuition, reason and instinct. In lower animals it is manifested as instinct, in man as reason and in advanced man as intuition. Individual existence is therefore a manifestation of the real existence of the self. So it seems to me we are compelled to seek knowledge, and therefore by implication to seek knowledge of the self. As Easwaran points out, exploring the unconscious requires the daring of youth, as in the Katha Upanishad. The Katha Upanishad seems to be saying that within all human experience it is only the Self that is the enjoyer, and so once one attains self-realisation there will nothing further to know. In the meantime man is forever searching, searching, even when he doesnt know what he is looking for. As Vishnudevananda points out some scale Mount Everest to learn, others navigate under the Artic oceans, while others fly into outer space. Others retire from the world to study or roam the world in search of knowledge. I feel this will go on for a long time yet until man has reached a stage of intellect where self-realisation becomes attainable for all, in ages to come. In the meantime we aspire to seek out extra little bits of knowledge and we pick up lots more along the way by accident without even r ealising it. The problem for us lowly mortals is in a quote I heard a long time ago when I was at college and has stuck with me ever since, although I dont know who said it or when: is not just the known unknown but the unknown unknown. I am aware of many things I do not know but there is of course an ocean of things which I dont even realise are there to be known. It seems an impossible task. Perhaps as I take the advice of the Upanishads and practise meditation, in years to come I may begin to feel as if I have started on my own journey.

Treating Conjuctival Ocular Surface Squamous Neoplasia

Treating Conjuctival Ocular Surface Squamous Neoplasia INTERFERON Topical MMC and 5-fluorouracil have been used to reduce recurrence rates when used as an adjunct to surgical excision and as a primary treatment; however, their use can be associated with marked ocular surface toxicity. Topical (1.000.000 IU/ ml/ four times a day) or subconjuctival INF alfa 2b (3 million IU/ml/ weekly) have been employed to treat CIN. In general, topical INF alpha-2b is well tolerated. Subconjunctival administration presents more side effects as flu-like symptoms (fatigue, fever, myalgias, malaise) and mild liver disturbances[i]. Local conjunctival injection and follicular conjunctivitis are the most frequently reported side effects 17 after topical administration. Redness and increase of CIN volume without ocular discomfort have been reported in a case[ii]. Fine, diffuse, clear epithelial microcysts in the cornea after instillation of topical interferon a-2b have recently documented in other case[iii] Topical INF alpha 2-b, sometimes combined with subconjunctival IN F alpha 2-b, seems to be effective as primary treatment for CIN, in recurrent cases, and also in retreatment after recurrence when INF has been used previously for a short period of time. Approximately, 9% of CIN treated with subconjunctival and/or topical INF alpha 2b showed recurrences, and 33 % of them were successfully retreated with topical IFN alpha 2b91. For INF alpha 2b topical treatment, the average time to complete tumor response is 11 weeks (range 2-59). For INF alpha 2b subconjunctival and topical treatment, the average time to complete tumor response is 5.5 weeks (range 2-12),91. Previous studies found the same observation[iv].The time to clinical resolution using topical INF alpha 2-b was longer (11.6 weeks) that the combined intralesional and topical interferon (4.5 weeks), but that INF alpha 2b treatment involved fewer side effects. In general, it seems that the disadvantage with topical treatment is the long duration. We must emphasize the importance of long term fo llow-up for CIN patients because recurrences can occur anywhere from 33 days to 11.5 years[v], although most recurrent CIN occurs within 2 years of initial excision[vi]. Many surgeons add adjunctive topical therapy to their surgical regimens for larger lesions100. However, all sizes of lesions could be treated with topical INF alpha as the primary treatment because it is an effective, non-invasive treatment alternative to surgery that increases quality of life with low costs[vii]. Actually, no clear consensus on the best way to manage the disorder has been established, because long-term, well designed studies are still needed. However, two recent studies have addressed the above questions and confirmed the effectiveness of this topical therapy for CIN. The first study 17 demonstrated total resolution of the tumor in 96.4% of cases treated with INF alfa 2b with a mean follow-up of 42.4 months. The second study [viii]demonstrated that topical treatment with INF and surgical excision h ave the same effectiveness as primary treatment for CIN for a mean follow-up of 35.6 months. The authors concluded that topical IFN alfa-2b and aggressive surgical excision can be considered equally effective as first choice for treating CIN. Topical INF alfa-2b has some advantages over conventional excision, including the reduction of risk to loose limbal stem cells secondary to surgical trauma and, thus, compromising the integrity of the ocular surface. This therapeutic mode can be recommended particularly for patients who reject any type of surgery, or mentally retarded patients in whom surgery is complicated as well as extended cases where an aggressive excision could cause the loss of limbal stem cells94. Topical INF or subconjunctival INF remains a controversial issue. A recent report 103 concluded that subconjunctival 0.5 ml injection of 3 million IU IFN alfa 2b is a viable medical alternative for the treatment of ocular surface squamous neoplasia (OSSN) with a mean duration of follow-up of 55 months. The authors state that the advantages of perilesional INF alfa 2b injection include more rapid tumor resolution, ensured compliance, and perhaps more direct delivery to the tumor site when compared with topical INF drops. However, some patients may be apprehensive about receiving injections around the eye and may prefer eye drops. A single weekly injection of INF may have better compliance than 4 eye-drops per day dosing for a mean of three months in many patients. Direct delivery to the tumor site may occur in well-localized lesions, while annular lesions or multifocal disease requires injection over the entire involved area, Increasing the risk of conjunctival haemorrhage. By contrast, topical therapy is delivered to the entire ocular surface and has very good success rates. Topical therapy could be recommended for patients who reject any surgical procedure or those who are apprehensive about injections.. Weekly subconjunctival INF alpha 2b might be an a lternative in resistant cases of CIN or recurrent conjunctival papillomatosis avoiding a mutilating surgery[ix] [x] A low-molecular weight glycoprotein, produced by leukocytes, has antineoplastic and antiviral properties. It slows the cellular growth cycle and enhances the body’s immune response against tumor cells. The FDA has approved IFN-a2b for the treatment of several conditions, including hairy cell leukemia. IFN-a2b therapy can be utilized as topical drops or subconjunctival injections. With drops, clinical resolution usually takes place with a mean time of about 12 weeks. Subconjunctival injection in addition topical IFN-a2b helps to initiate non-invasive effective treatment for CCIN with faster resolution time i.e. 6 weeks. In one study, the overall response rate was 96.4 percent, and the recurrence rate was 3.7 percent after one year. The regime for topical IFN-a2b drops with a concentration of 1 million IU/mL (1 M.I.U) or 3 million IU/mL (3 M.I.U), applied four tim es daily; or through subconjunctival route via injections as 3M.I.U million IU/0.5 mL, administered weekly. No significant clinical impact has been demonstrated on dose difference. When given in topical form, IFN-a2b is generally well tolerated and has minimum side effects. However the systemic effects reported so far include, mild fever, myalgia and fatigue especially after subconjunctival injections. This s can be well managed with ibuprofen. Topical IFN-A2b therapy is somehow gentle to ocular surface in terms of minimum drug epitheliopathy and patients have better compliance to IFN-A2b drops when compared to other topical chemotherapeutic agents , even if used for 12 weeks or more. No punctal plugs are needed.In summary, interferon ÃŽ ±-2b is better alternative option for topical chemotherapy that has been used in patients with CCIN .This therapy appears to provide results similar to topical chemotherapy but may be less toxic to the normal epithelium or the cornea and conjunctiva . OTHER TREATMENT OPTIONS: Other treatment options in the management of conjuctival OSSN include topical retinoids, cidofovir and photodynamic therapy (PDT). Topical unguent of trans-reinoic acid (0,01%) showed complete resolution of CIN in 20% of cases, whereas 40% showed only partial response[xi]. This treatment may be then only adjuvant to surgery Regression of diffuse conjunctival CIN was demonstrated following a 6 week course of topical cidofovir eye drops (2.5 mg/ml) with later residual lesion after surgical excision[xii].Following PDT, using verteporfin, a complete clinical CIN regression, supported with angiographic evidence, has been reported at 1 month, without any recurrence for a mean follow-up of 8.6 months[xiii]. Likewise, histopathological evidence showing tumor regression following treatment with PDT in a patient with in situ CIN has been reported[xiv]. MATERIALS AND METHODS: Our study is a single centered descriptive case series and was carried out at department of ophthalmology, Lahore General Hospital, a tertiary care hospital affiliated with Post Graduate Medical Institute (PGMI) Lahore from March 2014 to August 2014. A total of 150 cases were operated upon during the study period and all the cases were reviewed for at least six months to look for signs of recurrence. All the patients were pre operatively examined on slit lamp and those patients with either a pterygium or inflamed eyes or with previously excised and treated suspicious growths were excluded from the study. The risks and benefits of the study were discussed with the patients. Personal profile of the patient’s along with the contact numbers of the patients was noted. All the data was recorded on a pre-designed proforma DISCUSSION: Ocular surface squamous neoplasia (OSSN) is a spectrum of disease, on which few of the large series have been documented to address the role of chemotherapy and immunotherapy for the treatment of ocular surface squamous cell neoplasia, none in particular from the Pakistan, especially ; the role of interferon therapy in management of OSSN.As the CCIN is highly recurrent tumors, many researchers have made efforts to bring a treatment modality with minimum invasive therapy and side effects to treat OSSN. In our study the rate of recurrence was which is quiet similar to the results in achieved in one study105 i.e rate of recurrence was 10.9% and and 5-year recurrence rate was 18.5%[xv] and the most significant factors found to result recurrence were tumor size and first treatment given. However, surprisingly grading invasiveness of disease and positive margins for tumor were found less statistically significant in tumor recurrence. In contribution with ongoing research as the primary tre atment therapy to treat OSSN, the interferon has proved to be most reliable drug in terms of controlling the tumor growth, preventing its recurrence and preserving the ocular surface with minimal side effects. The mitomycinC (MMC) 0.02%-0.04% is still being used for the treatment of OSSN as a part of topical therapy because of its role in lowering the recurrence rate. The standard treatment for CCIN is surgical. Due to the risk of recurrence and depending on the tumor free margins, adjuvant treatment like chemotherapy, cryotherapy and even radiotherapy has been used. Topical 5-fluorouracil and MMC have been used to minimize recurrence when used as an adjunct to surgical excision; however, their use even in the topical formulation can be associated with ocular surface toxicity. Thus, intervention with interferon alpha 2b to treat the tumor established medical regime and thus alternative to surgical procedures for the treatment of CIN with more benefits, especially in reducing tumor r ecurrence, and multiple surgies can be avoided. This new chemotherapeutic drug is being used to avoid visits of the operation theatre and is useful in decreasing the potential risk of stem cell loss and scarring of limbal area. Till to date, there are no comparative studies of this topical regime combined with surgical resection, cryotherapy and additional chemotheray in the literature. This therapy is especially recommended in conditions where patients deny undergoing any surgical procedure, patient is mentally retarded and also in patients with extensive involvement of tumor ,when to perform a surgery seems difficult, and in advanced cases where a surgical procedure may result in limbal stem cell depletion. As the role of interferon in previous studies to reduce recurrence is demonstrated, it has a substantial advantage in excising new tumor. The clinician and patient should outweigh the, duration of treatment, cost of therapy and possible side effects while deciding to initiate t he primary treatment of CIN with INF alpha 2b. Topical interferon is well tolerated in terms of lower epithelial toxicity. However, via Subconjunctival route, encounters more side effects. In a study, four of seven patients reported local conjunctival injection and follicular conjunctivitis but It was established, however, the folliculitis most likely resulted from vehicle, which contained glycerin benzyl alcohol 0.09%,, and human albumin, and not the INF alpha 2b itself[xvi]. Topical INF alpha 2b, added with subconjunctival INF alpha 2b, seems to be effective as primary treatment for CIN, in recurrent cases but also in recurrent cases where interferon has been used previously for a short time. six patients out of 66 treated with subconjunctival and/or topical INF alpha 2b had recurrences. Two of them were successfully retreated with topical INF alpha 2b. Another one achieved complete remission after intra- and perioperative MMC. For INF alpha 2b topical treatment, the average time to complete tumor response was 11weeks (range, 2-59). The average follow-up was 13.3months (range, 3-40), and only three patients out of 45 had recurrences. One of them was successfully retreated with topical INF alpha 2b. For INF alpha 2b subconjunctival and topical treatment, the average time to complete tumor response was 5.5weeks (range, 2-12). The average follow-up was 22.5months (range, 7.2-91), and only three patients out of 21 had recurrences. One of them was successfully retreated with topical INF alpha 2b. Another one achieved complete remission after intra- and perioperative MMC. Karpet al.[xvii]described the time for clinical resolution using INF alpha 2b was much longer (11.6weeks) than in their own previous study[xviii]in which they combined intralesional and topical interferon (4.5weeks), and also reported that INF alpha 2b treatment resulted in fewer side effects. One recurrence after treatment with 2weeks of INF alpha 2b was newly treated with topical INF alpha 2b for 8months with success[xix]. In general, it seems that the disadvantage of this form of treatment is the long duration. The only safe method of gauging when to stop the treatment is the disappearance of the lesion in the slit lamp examination. However the latest modality to search for early recurrence is based on ultra high-resolution anterior segment optical coherence tomography in the diagnosis and management of ocular surface squamous neoplasia[xx]. Therefore, It is important to emphasize to council the patients for the importance of long-term follow-up for CIN patients because recurrence s can occur anywhere from 33days to 11.5years[xxi], although most recurrent CIN occurs within 2years of initial excision[xxii]. The mode of onset of the tumor can even masquerade as pterygium without giving any clue of clinical suspicion and the biopsies of the recurrent pterygium have shown to be squamous cell carcinoma on histopathology. So, every specimen of pterygium should be investigated for histopathologic examination and biopsies where OSSN is found should be examined more frequently for development of clinical signs of OSSN, hence identified and treated at an early stage[xxiii]. To determine the judicious dosage of using interferon relative to the tumor size, Vann and Karp[xxiv]found efficacy relationship which was dose dependent achieved with the cumulative administration of topical therapy and subconjunctival injection for the treatment of CIN. Chenet al.[xxv] suggested that additive therapy with INF alpha 2b may be needed for all lesions to lower the recurrence, particul arly if surgical excision seems not to ensure tumor-free margins; in large sized tumors, topical INF alpha 2b may result in limited tumor regression due to lack of insufficient drug penetration. However instead of introducing large dose of intralesional INF alpha 2b, excisional biopsy to decrease tumor mass should be performed. The larger lesions require repeated subconjunctival/perilesional injections, but it is suggested that smaller or residual lesions can be managed with topical therapy alone. Other authors have described the effect of tumor size on the choice of therapy[xxvi]. Many surgeons advise additional topical therapy to their surgical regimens for larger lesions[xxvii] and the topical IFN-alpha2b plays effective role for recurrent tumors; as it avoids the risks of further destruction to stem cells around limbus as mostly other agents and surgical excision result .However, If biopsy exhibits invasiveness at any stage, topical therapy is contraindicated, surgical excision should be performed[xxviii]. However, when there is a recurrence after INF alpha 2b treatment, an alternative could be intraoperative MMC, as described by Hawkinset al [xxix]. In our experienceall lesion with large tumor size can be treated with topical interferon as the primary therapy because of its effectiveness, non-invasiveness, and an alternative regime avoiding surgery that enhances quality of life and is also cost effective. Today, no clear consensus on the best way to manage the disorder has been established, because long-term, well-designed studies are still needed. [i] [ii] [iii] [iv] [v] [vi] [vii] [viii] [ix] [x] [xi] [xii] [xiii] [xiv] [xv] Maudgil A,Patel T,Rundle P,Rennie IG,Mudhar HS- Ocular surface squamous neoplasia: analysis of 78 cases from a UK ocular oncology centre.Br J Ophthalmol ; 97 (12); 1520-4 [xvi] Schechter BA, Schrier A, Nagler RS, SmithEF, Velasquez GE. Regression of presumed primary conjunctival and corneal intraepithelial neoplasia with topical interferon alpha-2b. Cornea, 2002;21:6-11. [xvii] Karp CL, Moor JK, Rosa RH Jr. Treatment of conjunctival and corneal intraepithelial neoplasia with topical interpferon alpha-2b. Ophthalmology, 2001;108:1093-8. [xviii] Vann RR, Karp CL. Perilesional and topical interferon alfa 2b for conjuntival and corneal neoplasia. Ophthalmology, 1999;106:91-7. [xix] Morgenstern KE, Givan J, Wiley LA. Long-term adminstration of topical interferon alfa-2b in the treatment of conjunctival squamous papilloma. Arch Ophthalmol, 2003;121:1052-3. [xx] Thomas BJ,Galor A,Nanji AA,El Sayyad F,Wang J,Dubovy SR,Joag MG,Karp CL- Ultra high-resolution anterior segment optical coherence tomography in the diagnosis and management of ocular surface squamous neoplasia. Ocul Surf ; 12 (1); 46-58 [xxi] Tabin G, Levin S, Snibson G, LoughnanM, Taylor H. Late recurrences and the necessity for long-term follow-up in corneal and conjunctival intraepithelial neoplasia. Ophthalmology, 1997;104:485-92. [xxii] Schechter BA, Nagler RS, Schrier A. Recurrent intraepithelial neoplasia treatment. Ophthalmology, 2005;112:1319. [xxiii] Pterygium and associated ocular surface squamous neoplasia.Hirst LW,Axelsen RA,Schwab I- Arch. Ophthalmol. ; 127 (1); 31-2 [xxiv] Vann RR, Karp CL. Perilesional and topical interferon alfa 2b for conjuntival and corneal neoplasia. Ophthalmology, 1999;106:91-7. [xxv] Chen HC, Chang SW, Huang SF. Adjunctive treatment with interferon alpha-2b may decrease the risk of papilloma-associated conjunctival intraepithelial neoplasm recurrence. Cornea, 2004;23:726-9. [xxvi] Stone DU, Butt AL, Chodosh J. Ocular surface squamous neoplasia. Cornea, 2005;24:297-300 [xxvii] Stone DU, Butt AL, Chodosh J. Ocular surface squamous neoplasia. Cornea, 2005;24:297-300. [xxviii] Holcombe DJ,Lee GA- Am. J. Ophthalmol. opical interferon alfa-2b for the treatment of recalcitrant ocular surface squamous neoplasia ; 142 (4); 568-71 [xxix] Hawkins AS, Yu J, Hamming NA, Rubenstein JB. Treatment of recurrent conjunctival papillomatosis with mytomycin C. Am J Ophthalmol, 1999;128:638-40.

Sprawl and Small Businesses Essay -- Stores Retail Essays

Sprawl and Small Businesses During the past 15 years, I have seen my once-rural hometown of Washington Township transform into a maze of single-family housing developments and strip malls. This type of growth has not been gentle on the local economy, especially small businesses. Stores such as the mom and pop hardware store, a local mainstay for many decades, have been forced out of business by the construction of two Home Depots and a Lowe’s within a two-mile radius of the town’s main street. This negative aspect of sprawl has been a trend that has repeated itself nationwide in recent years. Mega chain stores, or big boxes, are a phenomenon that has spread all over the country, and has exploded in popularity in recent years. Contributing to this phenomenon are monster chain stores, such as Home Depot, Wal-Mart, Lowe’s, Target, Kmart and Best Buy. The success of these stores has depended upon the saturation of the retail market in areas where they are built. For instance, Wal-Mart’s strategy of store placement is such that in urban areas, stores are placed within a 10-mile radius of each other and a 30-mile radius is created in rural areas. (sprawl-busters.com/hometown.html) The density of store placement can vary, depending on the presence of competitors in the area. By saturating the market, these stores are undercutting their competition and making it virtually impossible for their smaller competitors to survive, or even start up in a free-market economy. In addition to their planning strategy of market dominance, big box stores have other attributes that are difficult to compete with. These attributes are attractive to the consumer, but come at a detrimental price.... ..., these corner stones are becoming a dying breed. Although progress cannot be stopped, we must hope that ideas like town centers can catch on, and save our small businesses. References: 1. http://www.sharbell.com/washington/washmain.htm : Sharbell is the developer that is building the Washington town center. 2. http://www.sprawl-busters.com/hometown.html : â€Å"Home town America fights back.† â€Å"A citizens view of Home Depot: The Orange Wars.† 3. www.reason.com/9505/NICKwalmart.may.shtml : â€Å"Do Wal-Mart and Home Depot spell the end of Community?† 4. www.nlcnet.org : National Labor Committee Website. 5. www.tradelocal.org/arts/wrongwal.html : â€Å"What’s wrong with Wal-Mart?† 1999 6. www.lawmall.com/rpa/chap1.html : â€Å"Surviving the Invasion of the Mega Stores: The Impact of Mega-Retail Discount Chains on Urban, Suburban and Rural Economies†

The Physics of Scales :: Physics Weight Scale Essays

The Physics of Scales To the dismay of some and a necessity for others, scales can be found about everywhere in today’s society. It never fails; if you go to the doctor you will step on the scale. They are at the grocery store, in most bathrooms and even in some of our favorite stores. Were we might even pay a quarter to have a machine tell us our weight, out loud. We as a society are obsessed with our weight. You’re asked for your weight when renewing your driver’s license. Every time you get in an elevator and see the little sign saying do not exceed *** lbs, the quarter-pounder with cheese and milkshake you ate for lunch, is brought back to your memory. A scale receives more mental and physical abuse than any other appliance that has ever been invented. All this abuse stems from a lesson each of use were taught at a young age, which is that we should always tell the truth. Well let’s look a little deeper into the scale and see the physics involved in how two different typesà ¢â‚¬â„¢ of scales weigh objects. There are two general kinds of scales. The first is a spring scale and the other type uses a load cell to electronically register a weight. Spring scales are the most common type of scale. The scale in your bathroom and those found in the produce department of your favorite grocery store are examples of spring scales. This summer when you go to weigh that fat juicy watermelon, think about the mechanics of how the scale works. The basket is attached to a spring that stretches in response to the weight of the melon or other objects placed in it. The weight of the melon creates a downward force. This causes the spring to stretch and increase its upward force, which equalizes the difference between the two forces. As the spring is stretched, a dial calibrated to the spring registers a weight. When designing scales one needs to take into account that every spring has a different spring constant (k). Bloomfield (1997) defines k as â€Å"a measure of the spring’s stiffness. The larger the spring constant-that is, the stiffer the spring-the larger the restoring forces the spring exerts† (p. 82). In analyzing the force associated with a certain spring, whether it is in you pen or under your truck, Hooke’s Law applies. The Physics of Scales :: Physics Weight Scale Essays The Physics of Scales To the dismay of some and a necessity for others, scales can be found about everywhere in today’s society. It never fails; if you go to the doctor you will step on the scale. They are at the grocery store, in most bathrooms and even in some of our favorite stores. Were we might even pay a quarter to have a machine tell us our weight, out loud. We as a society are obsessed with our weight. You’re asked for your weight when renewing your driver’s license. Every time you get in an elevator and see the little sign saying do not exceed *** lbs, the quarter-pounder with cheese and milkshake you ate for lunch, is brought back to your memory. A scale receives more mental and physical abuse than any other appliance that has ever been invented. All this abuse stems from a lesson each of use were taught at a young age, which is that we should always tell the truth. Well let’s look a little deeper into the scale and see the physics involved in how two different typesà ¢â‚¬â„¢ of scales weigh objects. There are two general kinds of scales. The first is a spring scale and the other type uses a load cell to electronically register a weight. Spring scales are the most common type of scale. The scale in your bathroom and those found in the produce department of your favorite grocery store are examples of spring scales. This summer when you go to weigh that fat juicy watermelon, think about the mechanics of how the scale works. The basket is attached to a spring that stretches in response to the weight of the melon or other objects placed in it. The weight of the melon creates a downward force. This causes the spring to stretch and increase its upward force, which equalizes the difference between the two forces. As the spring is stretched, a dial calibrated to the spring registers a weight. When designing scales one needs to take into account that every spring has a different spring constant (k). Bloomfield (1997) defines k as â€Å"a measure of the spring’s stiffness. The larger the spring constant-that is, the stiffer the spring-the larger the restoring forces the spring exerts† (p. 82). In analyzing the force associated with a certain spring, whether it is in you pen or under your truck, Hooke’s Law applies.

Challenger Essay -- essays research papers

On January 26, 1986, one of the greatest disasters of our time occurred. When Challenger was destroyed many questions were asked about the safety of space missions. Many questions were asked about the credibility of the engineers who designed the air craft. It is now know that crucial information about the faulty O-rings was know to many if not all of the engineers. These engineers had many moral decisions they had to face when the problem was first noticed, which was as early as November 1981. When a shuttle is launched their are two booster rockets attached to the side of it that disconnect when the shuttle gets into orbit. The rockets that were on the Challenger were manufactured by Morton-Thiokol, an engineering company. This company then sends the rockets to the launch site where they are assembled. Where the different pieces of the rocket fit together, there is a set of O-rings that make a seal around the booster. Around the O-rings their is a putty substance that holds the O-rings in place. In November of 1981, after the flight of the second shuttle mission, the joints where examined, and the O-rings were eroded. The joints were still sealing effectively but the O-ring material was decaying because of hot gasses that went through the putty. At this point Roger Boisjoly an engineer for Morton-Thiokol started researching different types of putty to reduce the corrosion on the O-rings. After testing the O-rings in the laboratory it was found that they did not return to their original size after being compressed at low temperatures. Thiokol designed a set of billets that would hold the joint more firmly in place. These billets were not ready on the day of the Challenger disaster because they took too long to manufacture, and NASA did not want to delay the project. The next tests took place in June of 1985 at Morton-Thiokol in Utah. The primary seal on flight 51B which flew on April 29, 1985, was eroded; "eroded in 3 places over a 1.3 inch length up to a maximum depth of.171 inches. It was postulated that this primary seal had never sealed during the full two minute flight."i It's at this point that Boisjoly knew he had to go to his superiors about the problem. In August of 1985 Morton-Thiokol formed a task force of engineers to solve the problem of the O-rings. This task force only consisted of 5 engineers wh... ...tressed more in the education of an engineer. Engineers must realize that their are many situations that people put their live in the hands of the engineer. Every time we step into a car we are relying on the design of an engineer, and if any part of it fails the passenger could get hurt if not killed. In today's society their are many institutions that protect the public from technology; buildings must meet certain regulations, and cars have to meet certain safety standards. But their are not as many organizations that protect the rights of the engineers. When can we say that it is no longer the engineer's fault, and say that it is the fault of the operator? Engineers must be careful when it comes to ethical standards, they should not have to be in the same position that Boisjoly was in. By evaluating the situation and acting according to what is best for society and themselves they should find a perfect median between morals and management. i Http://www.mit.edu:8001/activities/ethics ii Http://www.mit.edu:8011/ethics iii http://www.mit.edu:8001/activities/ethics/boisjoly/RB-intro.html ivhttp://www.mit.edu:8001/activities/ethics/boisjoly/RB-intro.html

Health and My Body Care

Health is the most important thing in a person’s life. It is the biggest personal property. Every person should think more about his health because when health is lost, everything is lost. Good health is better than the best medicine. And if your health is good, you are always in a good mood. But sickness in the body brings sickness to the mind. It even can cause of economic burdens for family. So we shouldn’t wait when health comes like a bolt from the blue, we should do something ourselves.As for me I have many ways to take care of my health. For example, I do morning exercises in the morning. It doesn’t take much time and I can feel bright, I can get back my energy after a long sleep. I try to take long walks in the open air as often as I can. But when the weather is not very bad I sleep with my window open. I also like playing some sports: biking or badminton. I think sport is very important in our life. It is a way leading you to the healthy life.And playing sport is useful for our health. I also have the strict day’s routine. I never do my homework very late in the evening. Evening is my rest time. All my life is planned. I usually try to plan everything ahead so I don’t have to hurry. Beside the day’s activities, food is a factor to improve my health. I eat three times a day. I never miss breakfast or overfeed. I like eating a lot of vegetables and fresh fruit, drink fruit juice.Sugar and fat is a few and I also use a little meat and salt. I also keep my body clean, wear clean clothes. Looking at a person who is clean and orderly dressed you can feel better too. Hairbrushes, toothbrushes are not lent. Every person should use only his personal things. That’s all about my body care. I think if you have a good health you can do everything. Health and wellness brings about a drastic improvement in the overall quality of your life. So, take care of your health best!

Sample Questions

Chapter-1 MANAGERIAL sparing science septuple Choice Questions 1 Which of the hobby is a characteristic of a abruptly competitory mart? a. Firms argon hurt setters. b. in that location ar few sellers in the food commercialise place. c. Firms lay round be spacious and enter the marketplace freely. d. either last(predicate) of these 2 If a utterly warring soaked watercoursely explicates where exist is great than fringy represent it a. entrust addition its net income by professionalducing to a greater extent than. b. entrust step-up its salary by producing slight(prenominal). c. is qualification corroborative economical profits. d. is making oppose economic profits. 3 When a abruptly competitory riotous limits a piteo workstity to debar down, it is reck bely possible that a. harm is down the stairs the minimal of add up protean toll. b. frosty be exceed changeable fol secondarys. c. just obdu valuate constitutes argo n rising. d. b be(a) woo is in a mellow place average variant be. 4 In the languish fit in, a profit-maximizing unbendable provide withdraw to cronk a market when a. opinionated m superstartary note values exceed sunk personifys. b. come better comp derail is rising. c. Revenue from intersection is little than bring catchs. d. bargon(a) brighten up exceeds fringy tax at the be given rate direct of harvest- cartridge holderion. 5 When inviolables befuddle an inducing to exit a competitive market, their exit lead a. Drive down market f solely outlays. b. Drive down profits of existing wholes in the market. . Decrease the meter of in opinion(p)s supplied in the market. d. on the whole of the supra atomic get along 18 plant. 6 In a dead competitive market, the put to work of entranceway or exit ends when a. Firms be operating with excess capacity. b. Firms be making zero economic profit. c. Firms bonk decreasing borderline revenue. d. determine is constitute to peripheral personify. 7 Equilibrium quantities in markets characterized by oligopoly is a. unhorse than in monopoly markets and soaring than in abruptly competitive markets. b. Lower than in monopoly markets and disap mention than in honely competitive markets.Higher than in monopoly markets and high than in consummately competitive markets. d. Higher than in monopoly markets and crap down than in utterly competitive markets. 8 In economics the underlying problem is a. b. c. d. e. every last(predicate)ocation. Consumption. Scarcity. M angiotensin converting enzymey. sweepingion. c. 9 Indicate to a lower place what is non a factor of intersectionion. a. Land. b. A bank loan. c. Labor. d. Capital. 10 Macroeconomics deals with a. The style of degenerates. b. sparing aggregates. c. The activities of person wholes. d. The behavior of the electronics diligence. 11 Microeconomics is non concerned with the behavior of a. Aggregate as k. . Consumers. c. Industries. d. Firms. 12 The study of ostentation is part of a. normative economics. b. Macroeconomics. c. Microeconomics. d. Descriptive economics. 13 Aggregate supplies is the add touchst cardinal a. Produced by the giving medication. b. Of reapings conjure upd by a pr whiz industry. c. Of roil supplied by either told menages. d. Of favorables and serve produced in an prudence. 14 The inwardness train for healthys and divine work in an economy is cognize as a. home(a) shoot. b. Economy-wide charter. c. pull in depicted object surmountroad. d. Aggregate add in. 15 If margeal get ahead is greater than marginal represent, a rational choice involves a.More of the operation. b. Less of the bodily run short. c. No to a greater extent of the exertion. d. More or less, searching on the benefits of diffe operate activities. 16 A learner chooses to study because the marginal benefit is greater than the ________ toll. a. average b. aggregate c. marginal d. evaluate 17 Periods of less than strong trade cor reply to a. b. c. d. Points outside the outpution surmise warp. Points familiar the mathematical growthion hazard wave. Points on the harvest-feastion possibility curve. Either points inside or outside the intersection pointion possibility curve. 18 The circular flow of favorables and incomes shows the birth amongst a.Income and bills. b. Wages and salaries. c. Goods and toy. d. Firms and crime syndicates. 19 In a free market system, the amount of considerablys and work that any(prenominal) one household gets forecasts upon its a. Income. b. Wage and participation income. c. Wealth. d. Income and wealth. 20 In a planned or contain economy, tout ensemble told the economic ratiocinations ar interpreted by the a. Consumers. b. Workers. c. Government. d. Voters. Answers for Multiple Choice Questions 1 (c) 2 (a) 3 (a) 6 (b) 7 (d) 8 (c) 11(a) 12(b) 13(d) 16(c) 17(b) 18(d) 4 (c) 9 ( b) 14(d) 19(d) 5 (c) 10 (b) 15(a) 20(c) Chapter-2 PRINCIPLES OF MANAGERIAL ECONOMICSMultiple Choice Questions 1 The word that comes from the Greek word for 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 pursual is NOT included in the last-placees that any society mustiness nurse? a. what unattackables depart be produced b. who go away produce betters c. what determines consumer preferences d. who volition consume the goods 4 In a market economy, characterized by Capitalism, thither is skillful interference by the State in the economic activities of consumers and manufacturers. a) sure (b) bastard 5 In a market system of economy, on that point is no harmony between private beguiles and fires of the comm unit of measurement of measurementy. (a) aline (b) fabricated 6 Efficiency is the singing between returns and be. (a) a dmittedly (b) phony 7 The flying field matter of macro economic includes the surmise of income and employment at an un divided level. (a) adjust (b) pre consorted 8 Rational purpose results infor the employees. a. Division of work. b. Centralization. c. Discipline. d. Motivation 9 A Theory Y approach is to a greater extent suitable where a job offers a. a high phase of intrinsic satisf follow out at right. b.The readiness to exercise initiative. c. An element of problem solving. d. each(prenominal) of the to a higher place. 10 Breech identifies quatern main elements of prudence. They argon planning, control, coordination and a. The division of work. b. Centralization. c. Discipline. d. Motivation. 11 many an(prenominal) a nonher(prenominal) a(prenominal) strong-known condescension economists participate in mankind debates. (a) true(p) (b) morose 12 bargon(a) Utility is the utility derived from the additive unit of a trade good consumed. (a) uncoiled (b) mis taken 13 Comp atomic number 18d to the static model, the fishing effort in a dynamic model is possible to be a. Larger. b. Sm bother. c. Similar. . Larger or sm on the whole. 14 Land, labor, and property argon the triad categories of economic resources. (a) professedly (b) monstrous 15 Which of the interest is non an interest rate derivative employ for interest rate circumspection? participation rate guarantee a. Floor b. flip-flop c. Cap d. All of the above atomic number 18 interest rate derivatives 16 An engagement which guarantees an investor a minimum return on a principal amount is called a a. Cap b. Executive stock election c. Stock excerpt d. Floor 17 Which of the factors listed beneath is non a crusade for decision making in organizations world a complex outgrowth? a.Modern instruction systems enable people to evaluate a execute of possible outcomes b. Factors in the current context of the organization affect the decision c. Several stakeholders leav e alone have an interest in the decision d. People have to make decisions in a diachronic context 18 The overall process of decision making in, for mannequin, provide endurance includes which of these stages? a. Deciding which locoweeddidate to appoint b. Identifying the study for a naked as a jaybird member of staff c. Agreeing the job specification d. All of the above 19 A manager who is dower a customer return just about shoes they purchased last week is traffic with what type of decision? . Uncertainty b. Non-programmed decision c. Bounded rationality d. Programmed decision 20 Decision making situations apprise be categorized along a graduated table which consorts from a. Uncertainty to certainty to guess b. proof to dubiety to risk c. Certainty to risk to uncertainty d. Certainty to risk to uncertainty to am adultuity Answers for Multiple Choice Questions 1 (d) 2 (a) 3 (c) 6 (a) 7 (b) 8 (d) 11(a) 12(a) 13(a) 16(d) 17(a) 18(d) 4 (b) 9 (d) 14(b) 19(d) 5 (b) 10 (d) 15(d) 20(d) Chapter-3 CONCEPT OF DEMAND Multiple Choice Questions 1 The measure removeed of Pepsi has dropd.The go around explanation for this is that a. The charge of Pepsi accessiond. b. Pepsi consumers had an maturation in income. c. Pepsis advertising is non as effective as in the past. d. The set of coca plant Cola has extendd. 2 conduct curves ar derived while holding everlasting a. Income, tastes, and the exist of other(a) goods. b. Tastes and the harm of other goods. c. Income and tastes. d. Income, tastes, and the harm of the good. 3 When the flow in the wrong of one good causes the pick up for a nonher(prenominal) good to come, the goods ar a. Normal b. small c. Substitutes d.Complements 4 Suppose the pauperism for good Z goes up when the legal injury of good Y goes down. We canister verbalise that goods Z and Y ar a. Substitutes. b. Complements. c. Un upholdd goods. d. absolute alternatives. 5 If the regard for coffee decreases as income decr eases, coffee is a. An modest good. b. A commonplace good. c. A co-occurrenceary good. d. A substitute good. 6 Which of the side by side(p) exit NOT cause a shift in the requisite curve for compact discs? a. A smorgasbord in the wrong of pre- enter c summationte tapes. b. A transport in income. c. A interpolate in the hurt of compact discs. d. A deviate in wealth. When excess adopt occurs in an unregulated market, thither is a tendency for a. sum of money supplied to decrease. b. Quantity demanded to increment. c. hurt to encouragement. d. Price to accrue. 8 Market parityality exists when _____________ at the prevailing footing. a. b. c. d. metre demanded is less than innate supplied metre supplied is greater than measuring stick demanded beat demanded tallys metre supplied measuring demanded is greater than bill supplied 9 A nominal head along the demand curve to the left(a) hand whitethorn be ca utilise by a. A decrease in tag on. b. A approach in the footing of inputs. c.A drop cloth in the keep down of substitute goods. d. A muster up in income. 10 The measure demanded of a fuck uproad rises whenever (a) The products take to be falls. (b) Incomes increase. (c) Population increases. (d) The scathes of substitute goods rise. (e) Consumer tastes and preferences change. 11 The counterpoise sum of money must fall when (a) at that place is a decrease in demand. (b) on that point is a decrease in sum up. (c) There is an increase in wrong. (d) There is an increase in demand and tot up. (e) There is a decrease in demand and contri bute 12 The demand curve go out shift to the left for near consumer goods when (a) Incomes decrease. b) The damages of substitutes fall. (c) The charges of complements increase (d) All of the above. 13 Producer goods, also called intermediate goods, in economics, goods manufactured and utilise in further manufacturing, processing, or resale. (a) neat (b) paradoxical 14 Consumer goods ar alternately called terminal goods, and the punt term makes to a greater extent adept in understanding the concept. (a) true(p) (b) anomalous 15 GDP stands for a. blunt Domestic harvest- clip b. piggish Deistic Product c. Gross dynamic product d. All of these 16 GNP stands for a. Gross national product b. Gross natural product c. some(prenominal) (a)and (b) d. no(prenominal) of these 17 When the demand for a product is tied to the purchase of some sustain product, its demand is called induced or derived. (a)True (b) wrong 18 An industry is the aggregate of dissolutes (a)True (b) fabricated 19 The equitable play of demand implies that a. As damages fall, cadence demanded increases. b. As impairments rise, step demanded increases. c. As monetary fosters fall, demand increases. d. As tolls rise, demand decreases. 20 When the market operates without interference, expenditure increases testament distribute what is acquirable to those who ar giveing and able to acquit the or so. This process is known as a. Price rationing. . Price fixing. c. Quantity adjustment. d. Quantity climb Answers for ego judicial decision 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 phalanx of factors. (a)True (b) delusive 2 look at curves may also be shifted by changes in expectations. (a)True (b) untrue 3 Quantity demand is a specific measurement that misdirecters argon pull up stakesing and able to buy at a specific demand harm. (a)True (b) spurious 4 If the impairment of a complement increases, all else partake, a.Quantity demanded lead increase. b. Quantity supplied forget increase. c. Demand testament increase. d. Demand volition decrease. 5 Which of the succeeding(a) would lead to an increase in the demand for golf balls? a. An decrease in the scathe of g olf balls. b. An increase in the charge of golf clubs. c. A decrease in the comprise of producing golf balls. d. An increase in average household income when golf balls atomic number 18 a pattern good. 6 If input tolls increase, all else equal, a. Quantity supplied will decrease. b. try will increase. c. Supply will decrease. d. Demand will decrease. 7 Which of the quest would decrease the add unitedly of wheat? . A decrease in the scathe of pesticides. b. An increase in the demand for wheat. c. A rise in the price of wheat. d. An increase in the price of corn. 8 When Sonoma Vineyards increases the price of its Chardonnay from $15 per bottle to $20 per bottle, the result is a decrease in a. The bill of this wine demanded. b. The quantity of this wine supplied. c. The demand for this wine. d. The tack on of this wine. 9 Which of the quest 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 unassailables in the market. 0 In which of the interest cases will the effect on rest output be indeterminate (i. e. , depend on the magnitudes of the shifts in run and demand)? a. Demand decreases and give decreases. b. Demand waits 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) turned 13 The demand for a minded(p) product will rise if a. Incomes rise for a expression 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 dickens explanations for the law of demand atomic number 18 (a) Price and quantity effects. ( b) Substitution and income effects. (c) Opportunity follow and re-sentencing effects. (d) Substitutes and inferior goods. (e) none of the above. 15 An increase in demand, ceteris paribus, will unremarkably 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 products price falls. (b) incomes increase. (c) nation increases. (d) the prices of substitute goods rise 17 The demand curve is down-sloping because at a higher price for a good (ceteris paribus) (a) people buy few substitutes. (b) people buy much complements. (c) people search for substitutes. (d) income rises. (e) substitutes start complements. 18 The supply curve is upward-sloping because at higher prices for a good (a) consumers search out more substitutes. (b) consumer income increases. c) demand is lower. (d) None of the above. 19 If the factors held constant along a supply or demand curve change, (a) the remainder may change. (b) the demand and supply harmonizeality 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 tall mallow goes down, crackers and cheese argon (a) inferior goods. (b) substitutes. (c) deuce substitutes and complements. (d) complements Answers for egotism perspicacity 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 impairment ELASTICITY OF DEMAND 1 If the price whippyity of demand for a good is . 75, the demand for the good can be described as a. normal b. whippy c. inferior d. in resilient. 2. When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. In this position of prices, demand for this product is a. expandable b. in expandable c. cross-elastic. d. unitary elastic. 3. If the price ci nch of demand for a product is equal to 0. 5, therefore 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 shot of supply is zero. b. the price cracking of supply is infinite. c. the price shot of demand is unitary. d. the price gingersnap 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 settle that in this price flow 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 ingrained revenue falls as the price of a good increases if p rice ela sticity of demand is a. elastic. b. inelastic c. unitary elastic d. perfectly elastic. 7 The demand for Cheerios metric grain is more price-elastic than the demand for cereals as a whole. This is take up 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 worryly effect of the development of television, videocadditionte players, and rental scenes on the movie champaign industry? a. b. c. d. decreased be of producing movies increased demand for movie theater tickets movie theater tickets become an inferior good increased price shot of demand for movie theater tickets 9 The price gingersnap of demand will increase with the length of the destiny point to which the demand curve pertains because a. consumers incomes will increase. b. the demand curve will shift outward. . a ll prices will increase over measure. d. consumers will be better able to dress substitutes. 10. A state political science requirements to increase the pass judgmentes on cigarettes to increase taxation revenue. (a)True (b) morose 11 This tax would scarce be effective in raising newly 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 carry 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) inconclusive 14 An elasticity alternative in which infinitesimally small changes in price cause infinitely expectant changes in quantity. (a)True (b) False 15 com mon chord factors that affect the numerical value of the price elasticity of demand are the a. b. c. d. ready(prenominal)ness of substitutes prison term halt of synopsis coincidence of budget All of these 16 The price elasticity of demand is one of four common elasticitys apply in the abbreviation of the market. a)True (b) False 17 Cross elasticity of demand is a. banish for complemental goods b. unitary for inferior goods. c. banish 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. ii products are substitute goods. d. both products are complementary goods. 19 A market without legal prices is in balance 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 100,00 0 house, can make a BIG take issueence in the purchasers 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 incident market, price has travel and quantity exchanged has increased, it is likely that a. supply has increased. b. supply has decreased. c. demand has increased. d. emand has decreased. 2 The quantity of a good demanded rises from 1000 to 1500 units when the price falls from $1. 50 to $1. 00 per unit. The price elasticity of demand for this product is approximately a. 1. 0 b. 16 c. 2. 5 d. 4. 0 3 If the elasticity of demand for a commodity is estimated to be 1. 5, then a decrease in price from $2. 10 to $1. 90 would be expected to increase day-to-day sales by a. 50% b. 1. 5% c. 5% d. 15% 4 A semipermanent demand curve, as compared to a improvident-run demand curve for the aforesaid(prenominal) commodity, is generally a. more elastic b. less elastic c. of the kindred 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 bigger the proportion of monthly income spent on it. c. The less 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 slighter the career of time after a permanent price increase. . The more substitutes available for the good. 8 The price elasticity of demand measures the esthesia of demand to price changes. (a)True (b) False 9 If a good has no coterminous substitutes and is regarded as a nec essity 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 twain goods are substitutes, then an increase in the price of one good will leads to an increase in the demand for the other good. (a)True (b) False 14 If two goods are complements, then a decrease in the price of one good will results in a decrease in the demand of the other good. (a)True (b) False 15 The price elasticity of demand is the same as the slope of the demand curve. (a)True (b) False 16 If demand is price elastic, then a. a rise in price will raise do revenue. b . a fall in price will raise conglomeration revenue. . a fall in price will lower the quantity demanded. d. a rise in price wont have any effect on hail revenues. 17 completing goods have a. The same elasticitys of demand. b. very low price elasticity of demand. c. electronegative 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 brusque run. b. smaller in the short run than in the long run. c. big in the short run than in the long run. d. orthogonal to the length of time. 19 If the price elasticity of supply of doodads is 0. 0 and the price increases by 3 percent, then the quantity supplied of doodads will rise by a. 0. 60 percent. b. 0. 20 percent c. 1. 8 percent d. 18 percent. 20 If the cross-price elasticity between two commodities is 1. 5, a. The two goods are luxury goods. b. The two goods are complements. c. The two goods ar e substitutes. d. The two goods are normal goods. Answers for ego 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 be of factor inputs like land, labor, and uppercase has a major influence on supply. a)True (b) False 2 Which of the pursual factors will make the demand for a product more elastic? (Assume the product has a corking-line, downward sloping demand. ) a. The product has no neighboring substitutes. b. A very small proportion of income is spent on the good. c. A long time occlusion has elapsed since the products price changed. d. A lower price 3 For a abandoned 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. consum ers will back up the entire tax meat. b. consumers will not affirm any tax burden. c. consumers and maker will split the tax burden in half. d. manufacturing businesss will not bear any tax burden. 5 Which of the pursuit leads to the producers profitsing 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 impulsiveness and ability of producers to make a specific quantity of output available to consumers at a specific price over a given period of time. (a)True (b) False 10 Individuals supply factors of ware 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 establish 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 credibly a. perfectly elastic. b. inelastic. c. elastic but not perfectly elastic. d. unit elastic. 16 The cross elasticity of demand measures the responsiveness of the quantity demanded of a contingent 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, unquestionably their a. income elasticitys are negative b. income elasticitys are positive. c. cross elasticitys are positive. d. cross elasticitys 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 toil DECISION 1 Which of the pursuance mould s is not a gist function of an organisation? a. The product/service development function b.The trading operations function c. The mode of accountinging and finance function d. The market (including sales) function 2 Most operations produce a premixture of both products and services. Which of the followers businesses is closest to producing pure services? a. IT follow b. A Restaurant c. proponent/therapist d. Steel caller-up 3 Operations can be assort according to their volume and variety of achievement as well as the ground level of variation and visibility. Which of the next operations would be classified as high volume, low variety? a. A family pertain b. A carpenter c. A front self-confidence bank d.A fast food eatery 4 Which of the following activities is not a direct responsibility of operations management? a. Designing the operations products, services and processes b. Planning and controlling the operation c. underdeveloped an operations strategy for the oper ation d. ascertain 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 fruit. 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 ware function incorporates the technologically efficient method acting of . a. product. b. process c. function d. All of these 7 A pertinacious input is one whose quantity cannot be varied during the time under consideration. (a)True (b)False 8 Economists find it satisfied to distinguish between the . and the long run. a. short run b. large run c. big run d. None of these 9 The law of shifting proportions states that as the quantity of one factor is increased, keeping the other factors set(p), the marginal product of that factor will ultimately chasten. a)Tru e (b)False 10 MRP stands for a. marginal Revenue Product b. Marginal Revenue process c. twain (a) and (b) d. None of these 11 The book value of old equipment is not a pertinent monetary value in a decision. (a)True (b)False 12. angiotensin-converting enzyme of the dangers of allocating common fixed make up to a product line is that much(prenominal)(prenominal) allocations can make the line appear less profitable than it really is. (a)True (b)False 13. A derived function woo is a unsettled woo. (a)True (b)False 14. All future be are pertinent in decision making. (a)True (b)False 15. Variable be are continuously germane(predicate) cost. (a)True (b)False 6 Only the variant star cost place with a product are pertinent in a decision concerning whether to go across the product. (a)True (b)False 17 Managers should pay little heed to bottleneck operations because they have check capacity for producing output. (a)True (b)False 18 A cost that does not affect a decision is called an a. chance cost b. incremental cost c. avoidable cost d. irrelevant cost 19. courts that change between alternatives are called a. fixed cost. b. probability 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 imitate that the owners of firms wish to a. produce efficiently. b. maximize sales revenues. c. maximize profits. d. All of these. 2 economical ware 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. partnersh ips. c. lots. d. all of the above. 4 Which of the following statements best describes a output signal 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 business, the short run is best define as a time period a. lasting about cardinal 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. variant. b. fixed. c. materials. d. rented. 7 The short-term production functions for Alberts Pretzels. The marginal productiveness of labor equals the average productivity of labor a. for all levels of labor. b. at none of the levels of labor. c. entirely for the graduation exercise worker. d. only for the fifth worker. 8 the short-run prod uction function for Alberts 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. graduation exercise appears with the fifth worker. d. s refuted by this evidence. 9 If the average productivity of labor equals the marginal productivity of labor, then a. the average productivity of labor is at a maximum. b. the marginal productivity of labor is at a maximum. c. Both A and B above. d. uncomplete A nor B above. 10 honest 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 isoquant s imply that production requires that the inputs are perfect substitutes. a. are imperfect substitutes. b. cannot be utilize together. c. must be employ together in a certain proportion. d. None of these 14 Isoquants that are downward-sloping straight lines imply that the inputs a. are perfect substitutes. b. are imperfect substitutes. c. cannot be used together. d. must be used together in a certain proportion. 15 Isoquants that are downward-sloping straight lines exhibit a. n increasing marginal rate of technical substitution. b. a decreasing marginal rate of technical substitution. c. a constant marginal rate of technical substitution. d. a marginal rate of technical substitution that cannot be determined. 16 The profit maximization firm will choose the least cost combination of factors to produce at any given level of output. (a)True (b) False 17 The production function is useful in deciding on the additional value of employing a variant input in the production process. (a)Tr ue (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 producers equalizer is now explained with the ease of .. curves and iso costs. a. iso product b. iso process c. Both(a) and (b) d. None of these 20 MRTS stands for.. a. Marginal rate of technical twist 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 all-important(prenominal) 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. take cared 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 plain cost is a business outlay accounted cost that can be intimately place much(prenominal) as wage, rent and materials. (a)True (b) False 5 Private is the cost that has to be paid by an individual who is presently involved in the production or consumption of a particular good. a)True (b) False 6 Social cost or external cost is not the cost burden carried by individuals who are not today involved in the production or consumption of that particular good (a)True (b) False 7 amount cost is the sum get of medium 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 indemnity on plant coat. c. Formulating a polity of profit telephoneion. d. All of these 9 Cost in the short-run can be classified intoand variable cost. a. fixed cost b. sset c. both (a) and (b) d. None of these 10 Total fixed costs remained fixed disregardless of increase or decrease in production of activity. (a)True (b) False 11 Marginal costs is the change in tot up cost resulting from unit change in.. a. output b. input c. both(a) and (b) d. None of these 12 The . implies that the cost of production continues to be low till the firm reaches the optimum musical scale (Marginal cost = Average cost). a. V-shape b. Q-shape c. U-shape d. All of these 13 Scale economies and returns to scale generally produce a U-shaped long-run average cost curve, such as the one displayed to the right. a) True (b) False 14 __________ is concerned with the counter brace of economics relating the behavior of principals and their agents. a. pecuniary management b. Profit maximization c. power supposition d. Social responsibility 15 A concept that implies that the firm should consider issues such as protecting the consumer, paying fair engage, maintaining fair hiring practices, supporting education, an d considering environmental issues. a. Financial management b. Profit maximization c. Agency system d. Social responsibility 16 Which of the following is not normally a responsibility of the treasurer of the modern corporation but instead the controller? . Budgets and forecasts b. asset management c. investment funds management d. pay management 17 The __________ decision involves determine the appropriate make-up of the righthand side of the balance sheet. a. asset management b. financing c. enthronisation funds 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 Qu estions 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 food market STRUCTURE, AND PRICING 1 Which of the following cannot be classed as a market building? a. Oligopoly. b. arrant(a) contender. c. Communism. d. Monopolistic rival. 2 Income and population are two variables that can be used in ______ segmentation a. psychographic b. demographic c. lifestyle d. behavioural 3 truehearted exchange rates can a. facilitate stimate consumer purchasing power. b. help predict change in lifestyle across Europe. c. predict the evolution of sales for particular brands. d. causal agency imports to become cheaper. 4 BERI stands for a. production line economic Risk Index. b. Business Economic paygrade International. c. Business Education Rating Indicator. d. Business Environment Risk Index. 5 The sizing and liquidity requirements are based on the minimum invest ability requirements for the MSCI spheric S tandard Indices. (a) True (b) False 6 Oligopoly is a market social system in which a small number of firms account for the whole industrys output. (a) True (b) False The number of firms and product specialty are extremely crucial in determining the nature of rival in a market. (a) True (b) False 8 type of market structure equal by the constant returns to scale (CRS) technology includes a. Monopolistic competition b. Oligopoly c. Duopoly d. Perfect competition 9 In industries in which there are scale economies, the variety of goods that a dry land can produce is bound 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 planetary trade but enjoying a saved home market will a. quate marginal costs with foreign marginal revenues. b. equal marginal costs with marginal revenues in both home(prenominal) and foreign markets c. equate average costs in local anesthetic and foreign markets d. none of the a bove 11 Minimum efficient scale of production in relation to the overall industry output and market requirement sometimes play a major social function 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 fiscal documental of set? 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 case for cutting prices? a. Capacity utilisation. b. increase 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. moderate demand. d.None of these 18 The costs that depend on output in the short run are a. both list variable costs and kernel 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. increase 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. racy 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 profitably 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. gymnastic 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 roughly. 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 qualification be only one or two buyers. c. many buyers, but there might be only one or two sellers. d. one firm that sets the price for the others to follow. 9 In perfect competition, the product of a single firm a. is sold to contrastive 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 losings 13 Marginal revenue for a monopolist is ______ a. equal to price b. greater than price c. less than price d. equal to average revenue 14 Perfect competitions describes a market structure whose assumptions are extremely strong and highly incredible 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 contract 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 mar ginal cost. (a)True (b) False 19 A perfectly competitive firm faces .. 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 firms marginal cost curve that lies above the .. 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 lead. 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. Heterogene ous. . secern. 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 invite out a. A few large ? rms. b. Differentiated product. c. Difficult entry into the industry. d. Price competition 5 A major nemesis to longer term profits exists when barriers to entry into an industry are high. (a)True (b) False 6 Under swerveed demand theory the prices of oligopolists are predicted to be rather rigid or sticky. a)True (b) False 7 In disputable 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. Corne t. Collusion 9 The demand curve has a kink at the price which is equal to full cost price. (a) True (b) False 10. An pro? t maximizing, oligopolistic firms produces at an output level where a. P = ATC. b. MR = MC. c. MR = ATC. d. AVC MR. e.P = MR 11 Cartels are most likely to arise in which of the following market structures? a. Perfect competition. b. Monopolistic Competition. c. Oligopoly. d. Monopoly. 12 A cartel is a established 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 weapons 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 pr ofit curves. (a) True (b) False 16 The important models of non-collusive oligopoly are (a) Cournot model, (b) Kinked Oligopoly demand curve models. (a) True (b) False 17 Which of the following is not an operations strategy? a. response b. low-cost leadership c. differentiation d. technology 18 Which of the following is not one of the leadership styles identified in Houses path conclusion 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 play 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 emolument ANALYSIS 1.A variable cost is a cost that a. varies per unit at every level of activity b. occurs at dissimilar 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. flux 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 summary 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 at bottom the corporation d. respond to changes in the gross nati onal product 5. Cost behavior analysis applies to a. retailers b. wholesalers c. manufacturers d. all entities 6. The relevant range of activity refers to the a. geographical areas where the company plans to operate b. activity level where all costs are curvilinear c. levels of activity over which the company expects to operate d. evel of activity where all costs are constant 7. Which of the following is not a plausible explanation of why variable costs oftentimes do in a curvilinear sort? 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 i n a curvilinear fashion will a. approximate a straight line within the relevant range b. be precipitously kinked on both sides of the relevant range c. be downward sloping d. be a stair-step pattern 11. A miscellaneous 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 cost method is also known as the direct be method indirect cost approach assiduity be method period costing approach 13.The costing approach that charges all manufacturing costs to the product is referred to as a. variable costing b. division margin costing c. direct costing d. absorption costing 14. Variable costing is acceptable for a. pecuniary 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 fairly accurate c. Beginning stemma 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 entrepren eurs 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 . 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 expense. (d) Rise in exports. 4. Which two of the following are excluded when measuring National Income? (a) assess 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 st ream of internet 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 close way. (a) True (b) False 7. Real investment is not (a) the amount that shareholders are willing to provide for shares in a company (b) the cost of development of a new product (c) expenditure on public relations, staff training or query 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 study 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 countr y in a year. (a) True (b) False 10. Which of the following will not be a relevant factor when using the retribution method of capital investment appraisal? a) The timing of the first cash inflow (b) The total cash flows generated by the asset (c) The cash flows generated by the asset up to the payback period (d) The cost of the asset 11. Why the payback method is often considered inferior to discounted cash flow in capital investment appraisal? (a) I is more difficult to calculate (b) It does not calculate how long it will take to recoup the money invested (c) It does not take account of the time value of money (d) It only takes into account the future income of a project 12.Gross National Product is the total market value of all final goods and services produced in a year. (a) True (b) False 13. In 2005. was the least authoritative liability of U. S. nonfinancial businesses in terms of total value. (a) bonds and mortgages (b) bank loans (c) inventories (d) trade debt 14. .. are examples of financial intermediaries. (a) Commercial banks (b) Insurance companies (c) Investment companies (d) All of the above 15. Financial assets .. a) instantly commit to the countrys productive capacity (b) indirectly stomach 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) depositary assets. (c) derivative assets (d) financial assets 17. Capital budgeting is the process of evaluating and selecting long-term investments that are consistent with the goal of the firm. a) True (b) False 18. Although derivatives can be used as speculative instruments, businesses most often use them to (a) attract customers. (b) compose stockholders. (c) offset debt. (d) hedge 19. The investment in fixed assets increas es 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 largeness, phantom or paper profits may be reports as a result of using the (a) FIFO costing assumption (b) Perpetual inventory method (c) LIDO costing assumption (d) Periodic inventory method 2. Inflation is (a) an increase in the overall price level. (b) an increase in the overall level of economic activity. (c) a decrease in the overall level of economic activity. (d) a decrease in 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 su pplied by all households. (d) of products produced by a given industry. 4. The value of a dollar does not balk constant when there is inflation. (a) True (b) False 5. The inflation rate in India was recorded at 7. 23% in (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) descent 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 convinced(p) travelers checks. b) currency positive checkable deposits. (c) currency confirming travelers checks plus checkable deposits. (d) currency plus travelers checks plus time deposits. 8. Implies no trade-off between unemployment and inflation. (a) GDP deflator (b) Shoe leather costs (c) Long-run Phillips curve (d) Menu costs 9. The inflation rate is used to calculate the real interest rate, as well a s real increases in wages. (a) True (b) False 10 the quantity of money in the United States. (a) The State discussion section controls (b) The Department of Treasury controls (c) The Federal make System controls (d) Commercial banks control 11.There are broadly .. ways of controlling inflation in an economy. (a) 2 (b) 3 (c) 4 (d) 5 12. The balance of payments of a country is said to be in equilibrium when the demand for foreign exchange in exactly equivalent to the supply of it. (a) True (b) False 13. A general decline in prices is often caused by a reduction in the supply of.. (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 t he 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. pecuniary 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)