...P2 - Definitions Capital Income: This is the net worth of a business. It’s the amount in which assets exceed liabilities. It’s the income that comes from capital, which means it’s coming directly from the government itself, rather than any specific production or direct work. Capital income includes stock dividends or any sort of capital gains, as well as income an owner gets from a business they own. Sole traders: If you’re self-employed then it means you work for yourself, and not for an employer. A sole-trader is a self-employed person and they are the sole owner of their business. Partners: Partners are people who have shares within businesses. This means they don’t solely own the business; it could be split by 2 or more people, starting with a 50% share for 2 people and so on. Shares: If someone has a share within a business, it means that they have a unit of ownership within a corporation or financial asset. However, owning shares of a business doesn’t generally mean that they have direct control over said business on a day to day basis, but they are entitled to an equal distribution of any profits if any end up being declared in the form of dividends. Loans: A loan is something that is borrowed, generally money. This means people borrow a sum of money (often a large sum of money) and they’re expected to pay it back, with interest. Mortgages: A mortgage is a legal agreement between somewhere like a bank or building society, and they lend money in agreement that...
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...shalom kpogho What is Accounting? Accounting is the process of keeping financial accounts in check and stored in records for future references. Every business have to keep in check of their accounting data so that they know how much they have spent. How much goes in and how much goes out. There are many ways businesses keep record of data in the business by using a cash flow sheet, profit and loss account and a balance sheet. All these ways of keeping the business updated about the money they use, lose and make helps them for the future will let them know what to avoid or what to do again in order for that certain thing to happen again. Recording transactions Recording transactions of a business is to keep record of how much is being spent or how much is being sent to the company. Many keep record of this in a journal or documented so they have history of previous transactions made by the business. For example HM customs and revenue keep monthly transactions made by the public so they keep it as a data in their system of people who have made transactions with them. Annual and property transactions are also kept in a database with HM so they have all the transactions of the UK. Monitoring activity Monitoring activity of a business is key as you need to keep an eye on what the business is doing for example what transactions are being made and what money is being taken out or being put into the business and what the money is being spent on. Having a profit and loss...
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...ANATOMY AND PHYSIOLOGY P2, P3 4/27/2015 Khadra Ali | P1 – Outline the functions of the main cell components The human body is made up of millions of tiny cells that can only be seen under a microscope, cell also vary in shape and size. Cells are the basic structural of all living things. The human body is poised of trillions of cells. They give structure for the body, take in nutrients from food, convert those nutrients into energy, and carry out specialized functions. Cells also contain the body’s hereditary material and can make copies of them. Cells all have different sizes, shapes, and jobs to do. Each cell has a different function. The actual definition of cells is the smallest structural unit of the body that is capable of independent functioning, it consisting of one or more nuclei; it has a cytoplasm, and various organelles which are all surrounded by a cell membrane. There are four main parts to a cell; Plasma/Cell membrane, Cytoplasm, Nucleus and Cell Organelles. Plasma/Cell membrane: The plasma/cell membrane is a phospho-lipid-protein bi-layer; the lipids are small fatty molecules in two layers (bi-layer) with larger protein molecules inserted at intervals partly or completely through the bi-layer. The lipid molecules are phospholipids, the two lipid chains are insoluble in water and the phosphate head is water soluble. The fluid which surrounds the cells and the cytoplasm are watery environments next to the phosphate heads. Protein molecules create channels...
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...Modern College of Business and Science BTEC Level 3 National Extended Diploma Fall 2017 Unit 5: Business Accounting Assignment 1: Cash flow P1, P2, P3, M1 & D1 Submitted by Zuwena Suleiman Seif ID number 20178122 Submitted to Mr. Bou 26th November 2017 INTRODUCTION In this assignment, I will be explaining and show you how will I able to create the Cash Flow Forecast for one year from January 2018 up to December 2018. Also, I’ll explain the importance of record and keeping accurate financial data and how this record will help me to run and setting up my business. Not only that, but also, I will determine the closing balance of my Cash Flow Forecast in 1year which will base on the data that I’m going to predict in it together with...
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...P2. Outline the structure of the main tissues in the human body. A tissue is a group of similar cells. An organ contains different tissues, that work together to carry out different functions. The four main types of tissues are: 1) Epithelial tissue 2) Nervous tissue 3) Muscle tissue 4) Connective tissue Epithelial Tissues. This is located on the internal and external body cavities and surfaces, including tubes and channels (ducts), carrying discharge from glands. They may be made by several layers of cells, which is called compound Epithelia or a single layer is called simple Epithelia. The lower/bottom part of the cell layer is attached to the basement membrane for support/connections. There are nerve supplies to the epithelia but they are provided by diffusion. As they are on the surface, their volume to growth is a lot quicker than other tissues. Simple Epithelia. Simple Epithelia is one thick layer of tissue made from cells, it can be one of these three different shapes: 1. Squamous 2. Cuboidal 3. Columnar Squamous are found in: * Lung alveoli. * Blood capillaries. * Bowman’s capsule of nephrons. Cuboidal can be found in: * Kidney tubules. * Sweat ducts. * Glands that are like the thyroid gland. * Breast tissue. Columnar cells are found lining: * The trachea and bronchi. * Villi in the small intestine. Compound epithelia. The compound epithelia contain two or more layers of cells. This...
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...Chapter 1 Microeconomics of Consumer Theory The two broad categories of decision-makers in an economy are consumers and firms. Each individual in each of these groups makes its decisions in order to achieve some goal – a consumer seeks to maximize some measure of satisfaction from his consumption decisions while a firm seeks to maximize its profits. We first consider the microeconomics of consumer theory and will later turn to a consideration of firms. The two theoretical tools of consumer theory are utility functions and budget constraints. Out of the interaction of a utility function and a budget constraint emerge the choices that a consumer makes. Utility Theory A utility function describes the level of “satisfaction” or “happiness” that a consumer obtains from consuming various goods. A utility function can have any number of arguments, each of which affects the consumer's overall satisfaction level. But it is only when we consider more than one argument can we consider the trade-offs that a consumer faces when making consumption decisions. The nature of these trade-offs can be illustrated with a utility function of two arguments, but is completely generalizable to the case of any arbitrary number of arguments.1 An advantage of considering the case of just two goods is that we can analyze it graphically because, recall, graphing a function of two arguments requires three dimensions, graphing a function of three arguments requires four dimensions, and, in general, graphing...
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...The resources can be categorized into physical and logical resources. The physical resources are printer, disk drive, cpu, memory, scanner etc. The logical resources are files. • Deadlock is more serious than indefinite postponement or starvation because it affects more than one job. • Because resources are being tied up, the entire system (not just a few programs) is affected. • Requires outside intervention (e.g., operators or users terminate a job) to resolved the deadlock. 2. Seven Cases of Deadlocks Case 1 Deadlocks on file requests Case 2 Deadlocks in databases Case 3 Deadlocks in dedicated device allocation Case 4 Deadlocks in multiple device allocation Case 5 Deadlocks in spooling Case 7 Deadlocks in disk sharing Case 8 Deadlocks in a network Case 1: Deadlocks on File Requests | |If jobs can request and hold files for duration of their | | |execution, deadlock can occur. | | | | | |Any other programs that require F1 or F2 are...
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...BTEC Level 2 Extended Certificate in HOSPITALITY [pic] Smithills School Pride and Respect Unit 2 Unit code: D/600/9933 HOW THE HOSPITALITY INDUSTRY IS SUPPORTED BY OTHER INDUSTRIES [pic] Assignment 2 ASSIGNMENT BRIEF |Name: | |Form | | |Unit: |2 |Title: |How the Hospitality Industry is Supported by other Industries | |Assignment No: |2 | |Date Issued: | | |Critique Date: | | |Submission Date: | | |Credit Value: 1 |Guided Learning Hours: 10 | |Assessment Criteria to be covered in this assignment...
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...is lower than that of its trading partner. 1.1 Technology and markets The Ricardian model assumes that production uses only 1 input (labor), with constant returns to scale. This assumption means that the technology in each country and each sector is entirely determined by the labor requirement per unit of output. The other assumptions are that (a) labor moves freely between sectors within a country, but (b) labor cannot move between countries. Assumption (a) implies that in a particular country, the wage must be the same in both sectors; assumption (b) means that the wage need not be the same (and typically is not the same) in the two countries. In addition, all agents are price takers, i.e. there is perfect competition. In my example, the unit labor requirements are unit labor requirement Corn (good 1) US Canada au = 1 1 Umbrellas (good 2) au = 1 2 ac = 3 ac = 6 1 2 Table 1, Labor requirements 1 (Corn is good 1, umbrellas are good 2. Subscripts indicate commodity, superscripts indicate country.) I assume that both goods require one unit of labor to produce one unit of output in the US. This assumption is without loss of generality; it merely amounts to a choice of units....
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...Case Studies 1. SOLUTION TO STARTING RIGHT CASE, CH. 3, PAGE 110 This is a decision-making-under-uncertainty case. There are two events: a favorable market (event 1) and an unfavorable market (event 2). There are four alternatives, which include do nothing (alternative 1), invest in corporate bonds (alternative 2), invest in preferred stock (alternative 3), and invest in common stock (alternative 4). The decision table is presented. Note that for alternative 2, the return in a good market is $30,000 (1 + 0.13)5 = $55,273. The return in a good market is $120,000, (4 x $30,000) for alternative 3, and $240,000, (8 x $30,000) for alternative 4. Payoff table Laplace Event 1 Alternativ e1 Alternativ e2 Alternativ e3 Alternativ e4 0 55,273 Event 2 0 – 10,00 0 – 15,00 0 – 30,00 0 Average Value 0.0 22,636.5 Minimu m 0 – 10,000 – 15,000 – 30,000 Maximu m 0 55,273 Hurwicz Value 0.00 – 2,819.9 7 –150.00 120,00 0 240,00 0 52,500.0 120,000 105,000. 0 240,000 –300.00 Regret table Maximum Alternative Alternative 1 Alternative 2 Alternative 3 Alternative 4 Event 1 240,000 184,727 120,000 0 Event 2 0 10,000 15,000 30,000 Regret 240,000 184,727 120,000 30,000 a. Sue Pansky is a risk avoider and should use the maximin decision approach. She should do nothing and not make an investment in Starting Right. b. Ray Cahn should use a coefficient of realism of 0.11. The best decision is to do nothing. c. Lila Battle should eliminate alternative 1 of doing nothing and apply the maximin...
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...Case Studies 1. SOLUTION TO STARTING RIGHT CASE, CH. 3, PAGE 110 This is a decision-making-under-uncertainty case. There are two events: a favorable market (event 1) and an unfavorable market (event 2). There are four alternatives, which include do nothing (alternative 1), invest in corporate bonds (alternative 2), invest in preferred stock (alternative 3), and invest in common stock (alternative 4). The decision table is presented. Note that for alternative 2, the return in a good market is $30,000 (1 + 0.13)5 = $55,273. The return in a good market is $120,000, (4 x $30,000) for alternative 3, and $240,000, (8 x $30,000) for alternative 4. Payoff table Laplace Hurwicz Event 1 Event 2 Average Value Minimu m Maximu m Value Alternativ e1 0 0 0.0 0 0 0.00 Alternativ e2 55,273 – 10,00 0 22,636.5 – 10,000 55,273 – 2,819.9 7 Alternativ e3 120,00 0 – 15,00 0 52,500.0 – 15,000 120,000 –150.00 Alternativ e4 240,00 0 – 30,00 0 105,000. 0 – 30,000 240,000 –300.00 Regret table Maximum Alternative Event 1 Event 2 Regret Alternative 1 240,000 0 240,000 Alternative 2 184,727 10,000 184,727 Alternative 3 120,000 15,000 120,000 Alternative 4 0 30,000 30,000 a. Sue Pansky is a risk avoider and should use the maximin decision approach. She should do nothing and not make an investment in Starting...
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..., P1 = 8, P2 = 2, m = 32 1. How many units of good 2 will you buy? What is your maximum utility level? 2. Calculate for the Hicksian Demand Function of Good 2 3. Suppose the price of good 2 increases to Php 4, ceteris paribus. a. Calculate the Substitution Effect of the Increase in the Price of Good 2 b. Calculate the Income Effect of the Increase in the Price of Good 2 c. What is the compensation after the increase in the price of good 2 is necessary to restore your utility to its original level? Briefly discuss what is going on as you answer this question? 4. Calculate the compensating variation of the increase of P2 to Php 4 5. Calculate the equivalent variation of the increase of P2 to Php 4 6. Calculate the change in Marshallian Consumer Surplus of the increase of P2 to Php 4 II. Given X1* = ! "' − %&"' "# , P1 = 2, P2 = 4, m = 32 1. Calculate the uncompensated own-price elasticity of demand for good 1. Is the demand for good 1 price elastic, inelastic or unit elastic? Why? 2. Calculate the uncompensated cross price elasticity for good 1 with respect to P2. Interpret your result. 3. Calculate the uncompensated cross price elasticity of demand for good 2 with respect to P1. Interpret your result. 4. Calculate the income elasticity of demand for good 1. Is good 1 normal or inferior? [If good 1 is normal, is it a luxury or a necessity?] 5. Calculate the compensated cross-price elasticity of demand for good 1 with respect to P2 6. Calculate...
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...Chapter 6: CPU Scheduling • • • Basic Concepts Scheduling Criteria Scheduling Algorithms Operating System Concepts 6.1 Basic Concepts • Maximum CPU utilization obtained with multiprogramming. • CPU–I/O Burst Cycle – Process execution consists of a cycle of CPU execution and I/O wait. – Example: Alternating Sequence of CPU And I/O Bursts – In an I/O – bound program would have many very short CPU bursts. – In a CPU – bound program would have a few very long CPU bursts. Operating System Concepts 6.2 1 CPU Scheduler • The CPU scheduler (short-term scheduler) selects from among the processes in memory that are ready to execute, and allocates the CPU to one of them. • A ready queue may be implemented as a FIFO queue, priority queue, a tree, or an unordered linked list. • CPU scheduling decisions may take place when a process: 1. Switches from running to waiting state (ex., I/O request). 2. Switches from running to ready state (ex., Interrupts occur). 3. Switches from waiting to ready state (ex., Completion of I/O). 4. Terminates. • Scheduling under 1 and 4 is nonpreemptive; otherwise is called preemptive. • Under nonpreemptive scheduling, once the CPU has been allocated to a process, the process keeps the CPU until it releases the CPU either by terminating or by switching to the waiting state. Operating System Concepts 6.3 Dispatcher • Dispatcher module gives control of the CPU to the process selected by the short-term scheduler;...
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...Price Elasticity of Demand Example Questions Review: First, a quick review of Price Elasticity of Demand from lecture on 02/19/09. The definition, of Price Elasticity of Demand (PED) is: Price Elasticity of Demand = Percentage Change in Quantity Demanded = %ΔQD Percentage Change in Price %ΔP In order to calculate the PED we need two points on the demand curve, (QD1 , P1 ) and (QD2 , P2 ) . We use the midpoint formula, so: QD2 − QD1 ⎛ QD2 ⎜ ⎜ PED = ⎝ P2 ⎛ P2 ⎜ ⎝ + QD1 ⎞ ⎟ ⎟ 2 ⎠ − P1 + P1 ⎞ ⎟ 2 ⎠ Once we have calculated the PED between two points on the demand curve, we can say if demand between those points is “elastic,” “inelastic” or “unit elastic”: • • • Demand is “elastic” at a certain point if PED < -1 Demand is “inelastic” at a certain point if 0 > PED > -1 Demand is “unit elastic” at a certain point if PED = -1 There are a number of factors that can determine if a demand curve will be more elastic, or more inelastic (we will talk more about these factors on Tuesday, 02/24/09): Four Factors Affecting PED: 1. 2. 3. 4. Availability of close substitutes Necessities vs. luxuries Definition of Market Amount of time 1 When calculating different elasticities it is very important to keep in mind, what information you need to calculate a certain elasticity and what information you have available. Also, sometimes there is information that is not relevant to certain elasticities. Be sure you are aware of what information is necessary and what information...
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...Lecture 1: Introduction 1 Optimization Problems We start with the utility maximization problem commonly seen in intermediate microeconomics. Example 1.1. Denote I a consumer’ monetary income, p1 and p2 the prices of two goods, s and x1 and x2 for their quantities. The budget set of the consumer is B = f(x1 ; x2 ) : p1 x1 + p2 x2 Ig: 1 where D X is the constraint set. The minimization problem can be de…ned similarly. f (x) have the same set of solutions, Theorem 1.1. The problems maxx2D f (x) and minx2D so do minx2D f (x) and maxx2D Proof. Note that f (x) f (x). f (y) for all y 2 D is equivalent to f (x) f (y) for all y 2 D. Given this result, we can focus on how to solve maximization problems. 2 More examples Economics studies how to make the best use of allocation of scarece resources, translated in mathematical terms, it studies various optimization problems under constraints. 2.1 Expenditure minimization This is the ‡ side of the utility maximization problem. It studies how to sustain a certain ip utility level with the lowest expense. With the usual notation, the problem can be written as min p x; s.t. u(x) u: 2.2 Pro…t maximization Let x be the inputs of a production function f (x); let the price of the inputs be w, and the price of good be p(f (x)); then the pro…t maximization problem can be formulated as max p(f (x))f (x) w x, s.t. x 2 Rn . 2 2.3 Cost minimization Similarly, the cost...
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