Virtual University

CS504 Software Engineering Current Papers

2010-12-06T11:53:00.000-08:00

Software Engineering - I Midterm Exams Fall 2010

UML (unified modeling language) analysis modeling focuses on the
_________________ .
► behavioral model and environment model.
► behavioral model and implementation model.
► user model and environmental model
► user model and structural model
Question No: 2 ( Marks: 1 ) - Please choose one
The data flow diagram must be augmented by descriptive text in order to describe
the functional requirements for a software product.

► True
► False
Question No: 3 ( Marks: 1 ) - Please choose one
It is not possible to use ordinary data flow diagrams to model the functional requirements of realtime
systems.
► True
► False
Question No: 4 ( Marks: 1 ) - Please choose one
An object or class may further be classified on the basis of

► Behavior Driven attributes
► Data Driven attributes
► Responsibility Driven attributes
► All of the above
Question No: 5 ( Marks: 1 ) - Please choose one
A public Interface provides a way for with other Classes.

► Comminication
► Accessibility
► Reaching
► All of the above
Question No: 6 ( Marks: 1 ) - Please choose one
DFD Notation contains
► Data Store
► Extenal Agents
► Processes
► All of the given

Question No: 7 ( Marks: 1 ) - Please choose one
A complex System evolves from a
► smaller system
► medium sysetem
► bigger system
► non of the given
Question No: 8 ( Marks: 1 ) - Please choose one
Requirement engineering mainly deals with the -------------- of the system
► definition phase

► development phase
► maintenance
► non of the above
Question No: 9 ( Marks: 1 ) - Please choose one
Insufficient user involvement leads to ------------- products.
► unacceptable
► ambigious
► dissatisfaction of customer to
► non of the above

Question No: 10 ( Marks: 1 ) - Please choose one
Which one is not the purpose of Interaction Diagrams ?
► Model interactions between objects
► Assist in understanding how a system (a use case) actually works
► Identify responsibilities/operations and assign them to classes
► Identify dependencies among objecs
Question No: 11 ( Marks: 1 ) - Please choose one
Collaboration diagrams have basically two types of components: objects and ----------

► messages
► methods
► classes
► non of the above
Question No: 12 ( Marks: 1 ) - Please choose one
The scope description establishes the ----------between the system we are developing
and everything else in the universe
► Boundary
► Balance
► Constraint

► None of the given
Question No: 13 ( Marks: 1 ) - Please choose one
Which one is not a type of messages which Sequence Diagrams Depict
► Synchronous
► Asynchronous
► Create
► Update
Question No: 14 ( Marks: 1 ) - Please choose one

What is the most crucial non-functional requirement of a system to control radiation dosages that are
emitted as treatment for cancer?
► Security
► Reliability
► Usability
► Accuracy
Question No: 15 ( Marks: 1 ) - Please choose one
Given below are some statements associated with data flow diagrams. Identify the correct
statement from among them.
► Data flow is made use of to model what systems do.
► Flows of data can take place from a process to a sink.

► All processes have to be levelled or decomposed.
► Context diagram shows the major system processes.
Question No: 16 ( Marks: 1 ) - Please choose one
What would be the most suitable architecture to develop a commercial web page to do business
transactions over the internet?
► Client server model
► Island model
► RAD model
► Repository model
Question No: 17 ( Marks: 2 )

To manage the complexity of the system we need to apply the principles of abstraction.
Discuss briefly.
Question No: 18 ( Marks: 2 )
Define Motivation of GUI
Question No: 19 ( Marks: 2 )
Is the design of software architecture a creative process?
Question No: 20 ( Marks: 3 )
Keeing in mind the Connie's case study , what rule of thumbs were identified, list them
down.

Question No: 21 ( Marks: 3 )
The CPU of a computer consists of an ALU and a CU. Intel and AMD are two types of
CPUs, which are widely used in computers. Users of computers can be either novices or
experts.
Consider the following classes.
(i) CPU and AMD
(ii) (ii) User and Computer
(iii) (iii) CPU and ALU
The correct relationships between the above classes are
(a) (i) inheritance (ii) association (iii) inheritance.
(b) (i) association (ii) inheritance (iii) aggregation.
(c) (i) association (ii) inheritance (iii) association.
(d) (i) association (ii) inheritance (iii) aggregation.
(e) (i) inheritance (ii) association (iii) aggregation.
Question No: 22 ( Marks: 5 )

What is action-oriented approach for Software Design?
Question No: 23 ( Marks: 5 )
Collaboration Diagrams depict Dynamic behavior of the system, explain it

Define unit testing.
Write unit testing principles.
Write names of basic code structure.
Explain about 3 coverage schemes in white box testing.
How can we write code that is self-documenting?
How comments should be intended relative to their position in the code?
Complex expressions should be broken down into multiple ones. Explain why?
Explain Software testing Objective? Also define Successful test.
You have learnt about static analyzers,You are required to give a checklist of static analyzers
Is the design of software architecture a creative process? 2 marks

What is taxual Anylisis? Explain it. 2 marks..

What are the factor/issues of the activities that designer keep in mind that of an objec attribute ? Give any three with example 3 marks.

Define the properties of software design stag.? 5 marks

Narrate some of the architectural design guidelines that can help in addressing non-functional requirements challenges .5 marks

Q1: comparison b/w sequence and collaboration diagrams?

Q2: what is textual analysis?

Q3: narrate the inter-object relationship specified by the object model in short?

Q4: purpose of collaborative diagrams?

Q5: is the design of software architecture creative process?

Is the design of software architecture a creative process? 2 marks

What is taxual Anylisis? Explain it. 2 marks..

What are the factor/issues of the activities that designer keep in mind that of an objec attribute ? Give any three with example 3 marks.

Define the properties of software design stag.? 5 marks

Narrate some of the architectural design guidelines that can help in addressing non-functional requirements challenges .5 mark

Question No: 1 ( Marks: 1 ) - Please choose one

By following modern system engineering practices simulation of reactive systems

is no longer necessary

► True

► False

Question No: 2 ( Marks: 1 ) - Please choose one

The state transition diagram

► depicts relationships between data objects

► depicts functions that transform the data flow

► indicates how data are transformed by the system

► indicates system reactions to external events

Question No: 3 ( Marks: 1 ) - Please choose one

Control flow diagrams are

► needed to model event driven systems.

► required for all systems

► used in place of data flow diagrams

► useful for modeling user interfaces

Question No: 4 ( Marks: 1 ) - Please choose one

A change becomes ------------- because of close presence of data and functions

► Localized

► Private

► Global

► Accessible

Question No: 5 ( Marks: 1 ) - Please choose one

A complex System evolves from a

► smaller system

► medium sysetem

► bigger system

► non of the given

Question No: 6 ( Marks: 1 ) - Please choose one

Coupling is a measure of ----------------of a module or component.

► Independent

► Dependent

► Closeness

► All of the given

Question No: 7 ( Marks: 1 ) - Please choose one

Software Maintenance phase involves

► Debugging

► Adding new features

► making changes

► all of the given

Question No: 8 ( Marks: 1 ) - Please choose one

The hardest single part of building a software system is deciding precisely ----------- to

build.

► what

► How

► When

► Why

Question No: 9 ( Marks: 1 ) - Please choose one

Interaction Diagrams depict the ------------- Behavior of the system

► Static

► Dynamic

► Active

► Non of the above

Question No: 10 ( Marks: 1 ) - Please choose one

In Sequence Diagrams the time required by the receiver object to process the message is denoted by an---------------

► Activation Box

► Simple Box

► Arrow

► Non of the above

Question No: 11 ( Marks: 1 ) - Please choose one

A poorly designed interface can cause a user to make catastrophic errors is one of the motivations for GUI.

► True

► False

Question No: 12 ( Marks: 1 ) - Please choose one

Identifying System Features include ------

► log important information

► conduct business

► analyze business results

► all of the above

Question No: 13 ( Marks: 1 ) - Please choose one

Establishing responsibilities for objects includes

► Generalization Relationships

► Specialization Relationships

► all of the above

► identifying Association relationships

Question No: 14 ( Marks: 1 ) - Please choose one

Which of the following is a fact finding method?

► Site visits

► Prototyping

► Study of similar systems

► All of given

Question No: 15 ( Marks: 1 ) - Please choose one

Windows mobile is a popular mobile operating system which seen commonly on PDAs. Which of the following category pair(s) best describe(s) it?

► application software, embedded software

► system software, web-based software

► application software, scientific software

► system software, embedded software

Question No: 16 ( Marks: 1 ) - Please choose one

The Object Oriented approach

► improves the reusability of codes.

► makes objects less independent.

► increases testing time.

► complicates mapping of a system model to an implementation model.

Question No: 17 ( Marks: 2 )

Define abstraction ?

Question No: 18 ( Marks: 2 )

Is the design of software architecture a creative process?

Question No: 19 ( Marks: 2 )

Suppose you are working as a software engineer involved in the development of an e-commerce website.

What are the 2 most important characteristics your software must have?

Question No: 20 ( Marks: 3 )

What is the purpose of collaboration diagrams?

Question No: 21 ( Marks: 3 )

What is the difference between Aggregation and Association?

Question No: 22 ( Marks: 5 )

what parameters are used to measure and analyze design quality?

Question No: 23 ( Marks: 5 )

How the objects are identified in Peter codd’s technique?

1. How can we decrease coupling? Explain it. 03 marks

2. What is meant by “system’s static View”? Discuss briefly. 05 marks

3. How the objects are identified in peter codd’s technique? 05marks

4. What is the purpose of interaction diagram? 03marks

5. Define cohesion. 02marks

6. Keeping connie’s case study in mind, as discussed in lecture, list down whole parts structures which were identified. 02marks

7. Define data flow diagram 02marks

ENG201 Mid Term Fall 2010 Paper

2010-12-03T13:44:00.000-08:00

Which of the following is the process of drafting your message?
Planning
Composing
Editing
Revising

A customer is entitled to request an adjustment whenever he receives a product or
experience service that doesn’t live up to the --------------------------.
trader’s demands
supplier’s standards
seller’s demands
trader’s standards

'Employment History' means:
Which schools you have attended.
Which diplomas and certificates you have.
Where you have worked.
Which disciplines you had opted.

Which sentence is incorrect?
He lives in London.
I arrived at home at 6 o'clock.
They drove to San Francisco on Saturday.
Where do you live?

Which of the following is promoted by simple, direct language?
Structural clarity
Stylistic clarity
Contextual clarity
Textual clarity

How many steps are essential for successful oral statement?
Five
Six
Seven
Eight

Which one of the the following phrases are likely to offend and should be avoided?
We allow, we must reject
I prefer, we must deny
I must refuse, we must deny
We welcome, I must refuse

Which of the following descriptions can be applied to a résumé?
A résumé is a form of persuasive communication.
A résumé is a structured, written summary of a person’s education, employment

background and job qualifications.
A résumé is an advertisement intended to stimulate an employer’s interest in meeting
you.
All of the above

Which one of the following options should be used during business correspondence?
Choppy sentences
Passive sentences
Bias-free language
Cliches

Which type of Visual aid is the most difficult to execute effectively?
Graphics
Projections
Handouts
Film and video

Which steps are involved in ‘Revising Business Messages’? Give details of any two of
them?
5

What is the difference between Formal and Informal letter?

Which characteristics ensure ‘Completeness’ to a document?

Indicate whether these statements are true or false.

1) Use passive sentences to soften bad news, to put yourself in the background, or to
create an impersonal tone.
2) A compound sentence expresses one independent clause and one or more
dependent clauses.
3) A complex sentence expresses two or more independent but related thoughts.

Identify and describe three techniques for developing paragraphs. ?

Write a note on correctness principle of communication?

Have you ever heard the term Persuasive massage? Define it.

ECO401 Economics Latest Midterm Papers

2010-12-03T12:43:00.000-08:00

Question No: 1 ( Marks: 1 ) - Please choose one

Land is best described as:

► Produced factors of production.

► "Organizational" resources.

► Physical and mental abilities of people.

► "Naturally" occurring resources.

Question No: 2 ( Marks: 1 ) - Please choose one

While moving from left to right, the typical production possibilities curve has:

► An increasingly steep negative slope.

► A decreasingly steep negative slope.

► An increasingly steep positive slope.

► A constant and negative slope.

Question No: 3 ( Marks: 1 ) - Please choose one

When government sets the price of a good and that price is above the equilibrium price, the result will be:

► A surplus of the good.

► A shortage of the good.

► An equilibrium.

► None of the given options.

Question No: 4 ( Marks: 1 ) - Please choose one

If pen and ink are complements, then an increase in the price of pen will cause:

► An increase in the price of ink.

► Less ink to be demanded at each price.

► A decrease in the demand for pen.

► A rightward shift in the demand curve for ink.

Question No: 5 ( Marks: 1 ) - Please choose one

An increase in supply is shown by:

► Shifting the supply curve to the left.

► Shifting the supply curve to the right.

► Upward movement along the supply curve.

► Downward movement along the supply curve.

Reference

Question No: 6 ( Marks: 1 ) - Please choose one

When an industry's raw material costs increase, other things remaining the same:

► The supply curve shifts to the right.

► Output increases regardless of the market price and the supply curve shifts upward.

► Output decreases and the market price also decrease.

► The supply curve shifts to the left.

Question No: 7 ( Marks: 1 ) - Please choose one

Sugar can be refined from sugar beets. When the price of those beets falls:

► The demand curve for sugar would shift right.

► The demand curve for sugar would shift left.

► The supply curve for sugar would shift right.

► The supply curve for sugar would shift left.

Question No: 8 ( Marks: 1 ) - Please choose one

The price elasticity of demand measures the responsiveness of quantity demanded to:

► Quantity demanded.

► Quantity supplied.

► Price.

► Output.

Question No: 9 ( Marks: 1 ) - Please choose one

Since the fish that are caught each day go bad very quickly, the daily catch will be offered for sale no matter what price it brings. As a result, we know that:

► None of the given options.

► The daily supply curve for fish slopes upward.

► The daily supply curve for fish is perfectly inelastic.

► The daily supply curve for fish is perfectly elastic.

Question No: 10 ( Marks: 1 ) - Please choose one

In order to calculate the price elasticity of supply, you need to know:

► Two prices and two quantities supplied.

► The slope of the supply curve.

► The equilibrium price and quantity in the market.

► The quantity supplied at two different prices, all else equal.

Question No: 11 ( Marks: 1 ) - Please choose one

Suppose the first four units of an output produced incur corresponding total costs of 50, 150, 300, and 500. The marginal cost of the second unit of output is:

► 50.

► 100.

► 150.

► 200.

Question No: 12 ( Marks: 1 ) - Please choose one

Law of diminishing marginal utility indicates that the slope of the marginal utility curve is:

► Horizontal.

► Vertical.

► Negative.

► Positive.

Question No: 13 ( Marks: 1 ) - Please choose one

Assume that the total utilities for the fifth and sixth units of a good consumed are 83 and 97, respectively. The marginal utility for the sixth unit is:

► -14.

► 14.

► 83.

► 97.

Question No: 14 ( Marks: 1 ) - Please choose one

Suppose that the price of a pizza is $10 and price of a jeans is $30. If ratio of marginal utility of pizza to marginal utility of jeans is 1/4 then to maximize total utility, a consumer should:

► Buy more pizzas and fewer jeans.

► Buy fewer pizzas and more jeans.

► Continue to buy the same quantities of pizza and jeans.

► Spend more time consuming pizza.

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following is NOT an assumption of ordinal utility analysis?

► Consumers are consistent in their preferences.

► Consumers can measure the total utility received from any given basket of good.

► Consumers are non-satiated with respect to the goods they confront.

► All of the given options are true.

Question No: 16 ( Marks: 1 ) - Please choose one

Assume leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:

► Increase hours of work.

► Decrease hours of work.

► Not change hours of work.

► None of the given options.

Question No: 17 ( Marks: 1 ) - Please choose one

Ali initially leased one-room space and started a small day care centre with only 4 children and one staff member. But he found that the cost per child is very high. He wants to expand the centre. Which of the following will happen when Ali expand the centre?

► Economies of scale.

► Diseconomies of scale.

► Decreasing returns to the labor inputs.

► Increasing returns to the labor inputs.

Question No: 18 ( Marks: 1 ) - Please choose one

A graph showing all the combinations of capital and labour available for a given total cost is the:

► Budget constraint.

► Expenditure set.

► Isoquant.

► Isocost.

Question No: 19 ( Marks: 1 ) - Please choose one

An isoquant curve shows:

► All the alternative combinations of two inputs that yield the same maximum total product.

► All the alternative combinations of two products that can be produced by using a given set of inputs fully and in the best possible way.

► All the alternative combinations of two products among which a producer is indifferent because they yield the same profit.

► None of the given options.

Question No: 20 ( Marks: 1 ) - Please choose one

L-shaped isoquant:

► Indicate that capital and labor cannot be substituted for each other in production.

► Is impossible.

► Indicate that the firm could switch from one output to another costlessly.

► Indicate that the firm could not switch from one output to another.

Question No: 21 ( Marks: 1 ) - Please choose one

Costs determine all of the following EXCEPT:

► Demand for a product.

► Firm's behaviour.

► How firms should expand?

► Firm's profitability.

Question No: 22 ( Marks: 1 ) - Please choose one

Total costs are the sum of:

► Marginal costs and variable costs.

► Fixed costs and variable costs.

► Fixed costs and marginal costs.

► Average variable costs and marginal costs.

Question No: 23 ( Marks: 1 ) - Please choose one

To find the profit maximizing level of output, a firm finds the output level where:

► Price equals marginal cost.

► Marginal revenue and average total cost.

► Price equals marginal revenue.

► None of the given options.

Question No: 24 ( Marks: 1 ) - Please choose one

The good produced by a monopoly:

► Has perfect substitutes.

► Has no substitutes at all.

► Has no close substitutes.

► Can be easily duplicated.

Question No: 25 ( Marks: 1 ) - Please choose one

A perfectly competitive firm maximizes profit by finding the level of production at which:

► Price = Marginal Cost.

► Price = Average Total Cost.

► Average Total Cost = Marginal Cost.

► Price < Marginal Cost.

Question No: 26 ( Marks: 1 ) - Please choose one

The monopolist has no supply curve because:

► The quantity supplied at any particular price depends on the monopolist's demand curve.

► The monopolist's marginal cost curve changes considerably over time.

► The relationship between price and quantity depends on both marginal cost and average cost.

► Although there is only a single seller at the current price, it is impossible to know how many sellers would be in the market at higher prices.

Question No: 27 ( Marks: 1 ) - Please choose one

In monopoly, which of the following is TRUE at the output level, where price = marginal cost?

► The monopolist is maximizing profit.

► The monopolist is not maximizing profit and should increase output.

► The monopolist is not maximizing profit and should decrease output.

► The monopolist is earning a positive profit.

Question No: 28 ( Marks: 1 ) - Please choose one

Following are the disadvantages of monopoly EXCEPT:

► Monopolists earn higher profits.

► Monopolists produce high quality goods at higher prices.

► Most of the “surplus” (producer + consumer surplus) accrues to monopolists.

► Monopolists do not pay sufficient attention to increasing efficiency.

Question No: 29 ( Marks: 1 ) - Please choose one

When a firm charges each customer the maximum price that the customer is willing to pay, the firm:

► Engages in a discrete pricing strategy.

► Charges the average reservation price.

► Engages in second-degree price discrimination.

► Engages in first-degree price discrimination.

Question No: 30 ( Marks: 1 ) - Please choose one

Third-degree price discrimination involves:

► Charging each consumer the same two part tariff.

► Charging lower prices the greater the quantity purchased.

► The use of increasing block rate pricing.

► Charging different prices to different groups based upon differences in elasticity of demand.

Question No: 31 ( Marks: 1 ) - Please choose one

Which of the following is true in long run equilibrium for a firm in a monopolistic competitive industry?

► The demand curve is tangent to marginal cost curve.

► The demand curve is tangent to average cost curve.

► The marginal cost curve is tangent to average cost curve.

► The demand curve is tangent to marginal revenue curve.

Question No: 32 ( Marks: 1 ) - Please choose one

Which of the following would most likely shift the production possibilities curve for a nation outward?

► A reduction in unemployment.

► An increase in the production of capital goods.

► A reduction in discrimination.

► An increase in the production of consumer goods.

Question No: 33 ( Marks: 1 ) - Please choose one

A demand schedule is best described as:

► A numerical tabulation of the quantity demanded of a good at different prices, ceteris paribus.

► A graphical representation of the law of demand.

► A systematic listing of all the variables that might conceivably bring about a change in demand.

► A symbolic representation of the law of demand: P,Q and Q, P.

Question No: 34 ( Marks: 1 ) - Please choose one

A partial explanation for the inverse relationship between price and quantity demanded is that a:

► Lower price shifts the supply curve to the left.

► Higher price shifts the demand curve to the left.

► Lower price shifts the demand curve to the right.

► Higher price reduces the real incomes of buyers.

Question No: 35 ( Marks: 1 ) - Please choose one

The total utility curve for a risk neutral person will be:

► Straight line.x

► Convex.

► Concave.

► None of the given options.

Question No: 36 ( Marks: 1 ) - Please choose one

Figure

In figure given above, the marginal utility of income is:

► Increasing as income increases.

► Constant for all levels of income.

► Diminishes as income increases.

► None of the given options.

Question No: 37 ( Marks: 1 ) - Please choose one

A welfare loss occurs in monopoly where:

► The price is greater than the marginal cost.

► The price is greater than the marginal benefit.

► The price is greater than the average revenue.

► The price is greater than the marginal revenue.

Question No: 38 ( Marks: 1 ) - Please choose one

Which of the following is NOT a factor of production?

► Labour.

► Land.

► Capital.

► Investment.

Question No: 39 ( Marks: 1 ) - Please choose one

Which of the following does NOT refer to macroeconomics?

► The study of the aggregate level of economic activity.

► The study of the economic behavior of individual decision-making units such as consumers, resource owners, and business firms.

► The study of the cause of unemployment.

► The study of the cause of inflation.

Question No: 40 ( Marks: 1 ) - Please choose one

Demand is elastic when the elasticity of demand is:

► Greater than 0 but less than 1.

► Greater than 1.

► Less than 0.

► Equal to 1.

Question No: 41 ( Marks: 10 )

A. Differentiate between risk and uncertainty.

B. What would the risk neutral person, risk averse person and risk loving person do in the following cases?

o If Odds Ratio > 1

o If Odds Ratio = 1

o If Odds Ratio < 1

C. You toss a coin, if head comes, you are given Rs. 200 and if tail comes, you have to pay Rs. 200. Will you play this game or not? Give your answer with brief explanation.

(Marks: 3+3+4)

Answers : A)

Risk and Uncertainty : Risk is when an outcome may or may not occur but its probability is known while uncertainty is when an outcome may or may not occur but its probability is not known.

Answers : B)

1) For risk neutral person

o If Odds Ratio > 1, then he will definitely buy

o If Odds Ratio = 1, then he will be indifferent

o If Odds Ratio < 1, then he might not buy as OR < 1

2) For risk averse person

o If Odds Ratio > 1, then in this case as well he might decide not to buy.

o If Odds Ratio = 1, then he will definitely not buy

o If Odds Ratio < 1, then he will definitely not buy

3) For risk loving person

o If Odds Ratio > 1, then he will definitely buy

o If Odds Ratio = 1, then he will definitely buy

o If Odds Ratio < 1, then in this case as well he might decide to buy.

Answers : C)

The tossing of a coin and the probability of a head appearing is 50% i.e. the odds of success are fair. So the option of OR < 1 and OR > 1 is not there. The only possibility is OR = 1 which means that the chances are not that bad. Now it depends on the fact that whether I am a risk averse, risk neutral or risk loving person. In case of fair odds both risk loving and risk neutral person might decide to play. So I will play this game as the amount of money involved is not that much and as far as my perception of it is concerned the marginal benefit of gaining 200 Rs is perceived by me as more than the marginal cost of losing the 200 Rs. So I would definitely play this game.

Question No: 1 ( Marks: 1 ) - Please choose one

An individual whose attitude towards risk is known as:

► Risk averse.

► Risk loving.

► Risk neutral.

► None of the given options.

Question No: 2 ( Marks: 1 ) - Please choose one

The concept of a risk premium applies to a person that is:

► All of the given options.

► Risk averse.

► Risk neutral.

► Risk loving.

Question No: 3 ( Marks: 1 ) - Please choose one

A normative economic statement:

► Is a statement of fact.

► Is a hypothesis used to test economic theory.

► Is a statement of what ought to be, not what is.

► Is a statement of what will occur if certain assumptions are true.

Question No: 4 ( Marks: 1 ) - Please choose one

Economics is different from other social sciences because it is primarily concerned with the study of ________, it is similar to other social sciences because they are all concerned with the study of ________.

► Limited resources, market behavior.

► Scarcity, human behavior.

► Social behavior, limited resources.

► Biological behavior, scarcity.

Question No: 5 ( Marks: 1 ) - Please choose one

Because of the relationship between a perfectly competitive firm's demand curve and its marginal revenue curve, the profit maximization condition for the firm can be written as:

► P = MR.

► P = AVC.

► AR = MR.

► P = MC.

Question No: 6 ( Marks: 1 ) - Please choose one

A welfare loss occurs in monopoly where:

► The price is greater than the marginal cost.

► The price is greater than the marginal benefit.

► The price is greater than the average revenue.

► The price is greater than the marginal revenue.

Question No: 7 ( Marks: 1 ) - Please choose one

The "perfect information" assumption of perfect competition includes all of the following EXCEPT:

► Consumers know their preferences.

► Consumers know their income levels.

► Consumers know the prices available.

► Consumers can anticipate price changes.

Question No: 8 ( Marks: 1 ) - Please choose one

Figure

In figure given above, the marginal utility of income is:

► Increasing as income increases.

► Constant for all levels of income.

► Diminishes as income increases.

► None of the given options.

Question No: 9 ( Marks: 1 ) - Please choose one

A consultant for Mattel (the producer of Barbie) reports that their long run average cost curve is decreasing. In other words, he is saying that:

► The firm has increasing returns to scale and the law of diminishing marginal productivity does not apply to this firm.

► The firm has decreasing returns to scale and the law of diminishing marginal productivity does not apply to this firm.

► The firm has increasing returns to scale but the law of diminishing marginal productivity may still apply to this firm.

► The firm has decreasing returns to scale but nonetheless the law of diminishing marginal productivity may still apply to this firm.

Question No: 10 ( Marks: 1 ) - Please choose one

If the cross price elasticity of demand between two goods X and Y is positive; it means that goods are:

► Independent.

► Complements.

► Substitutes.

► Inferior.

Question No: 11 ( Marks: 1 ) - Please choose one

A demand schedule is best described as:

► A numerical tabulation of the quantity demanded of a good at different prices, ceteris paribus.

► A graphical representation of the law of demand.

► A systematic listing of all the variables that might conceivably bring about a change in demand.

► A symbolic representation of the law of demand: P,Q and Q, P.

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following best expresses the law of demand?

► A higher price reduces demand.

► A lower price reduces demand.

► A higher price reduces quantity demanded.

► A lower price shifts the demand curve to the right.

Question No: 13 ( Marks: 1 ) - Please choose one

Which of the following would most likely shift the production possibilities curve for a nation outward?

► A reduction in unemployment.

► An increase in the production of capital goods.

► A reduction in discrimination.

► An increase in the production of consumer goods.

Question No: 14 ( Marks: 1 ) - Please choose one

The primary use of the kinked-demand curve is to explain price rigidity in:

► Oligopoly.

► Monopoly.

► Perfect competition.

► Monopolistic competition.

Question No: 15 ( Marks: 1 ) - Please choose one

A monopolistically competitive firm in short run equilibrium:

► Will make negative profit (lose money).

► Will make zero profit (break-even).

► Will make positive profit.

► Any of the given are possible.

Question No: 16 ( Marks: 1 ) - Please choose one

A market with few entry barriers and with many firms that sell differentiated products is:

► Purely competitive.

► A monopoly.

► Monopolistically competitive.

► Oligopolistic.

Question No: 17 ( Marks: 1 ) - Please choose one

The maximum price that a consumer is willing to pay for a good is called:

► The reservation price.

► The market price.

► The first-degree price.

► The block price.

Question No: 18 ( Marks: 1 ) - Please choose one

Third-degree price discrimination involves:

► Charging each consumer the same two part tariff.

► Charging lower prices the greater the quantity purchased.

► The use of increasing block rate pricing.

► Charging different prices to different groups based upon differences in elasticity of demand.

Question No: 19 ( Marks: 1 ) - Please choose one

A tennis pro charges $15 per hour for tennis lessons for children and $30 per hour for tennis lessons for adults. The tennis pro is practicing:

► First-degree price discrimination.

► Second-degree price discrimination.

► Third-degree price discrimination.

► All of the given options.

Question No: 20 ( Marks: 1 ) - Please choose one

An electric power company uses block pricing for electricity sales. Block pricing is an example of:

► First-degree price discrimination.

► Second-degree price discrimination.

► Third-degree price discrimination.

► Block pricing is not a type of price discrimination.

Question No: 21 ( Marks: 1 ) - Please choose one

A firm never operates:

► At the minimum of its average total cost curve.

► At the minimum of its average variable cost curve.

► On the downward-sloping portion of its average total cost curve.

► On the downward-sloping portion of its average variable cost curve.

Question No: 22 ( Marks: 1 ) - Please choose one

Marginal profit is equal to:

► Marginal revenue minus marginal cost.

► Marginal revenue plus marginal cost.

► Marginal cost minus marginal revenue.

► Marginal revenue times marginal cost.

Question No: 23 ( Marks: 1 ) - Please choose one

If current output is less than the profit-maximizing output then which of the following must be TRUE?

► Total revenue is less than total cost.

► Average revenue is less than average cost.

► Marginal revenue is less than marginal cost.

► Marginal revenue is greater than marginal cost.

Question No: 24 ( Marks: 1 ) - Please choose one

At the profit-maximizing level of output, what is TRUE of the total revenue (TR) and total cost (TC) curves?

► They must intersect with TC cutting TR from below.

► They must intersect with TC cutting TR from above.

► They must be tangent to each other.

► They must have the same slope.

Question No: 25 ( Marks: 1 ) - Please choose one

The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?

► 5Q.

► 5.

► 5 + (200/Q).

► None of the given options.

Question No: 26 ( Marks: 1 ) - Please choose one

In order for a taxicab to be operated in New York City, it must have a medallion on its hood. Medallions are expensive but can be resold and are therefore an example of:

► A fixed cost.

► A variable cost.

► An implicit cost.

► An opportunity cost.

Question No: 27 ( Marks: 1 ) - Please choose one

Costs determine all of the following EXCEPT:

► Demand for a product.

► Firm's behaviour.

► How firms should expand?

► Firm's profitability.

Question No: 28 ( Marks: 1 ) - Please choose one

The rate at which a firm can substitute capital for labour and hold output constant is the:

► Law of diminishing marginal returns.

► Marginal rate of substitution.

► Marginal rate of factor substitution.

► Marginal rate of production.

Question No: 29 ( Marks: 1 ) - Please choose one

If a simultaneous and equal percentage decrease in the use of all physical inputs leads to a larger percentage decrease in physical output, a firm’s production function is said to exhibit:

► Decreasing returns to scale.

► Constant returns to scale.

► Increasing returns to scale.

► Diseconomies of scale.

Question No: 30 ( Marks: 1 ) - Please choose one

At any given point on an indifference curve, the absolute value of the slope equals:

► Unity--otherwise there would be no indifference.

► The marginal rate of substitution.

► The consumer’s marginal utility.

► None of the given options.

Question No: 31 ( Marks: 1 ) - Please choose one

Aslam spends all of his money on racquetballs and food. What would happen to Aslam’s budget line if his income increased by 10 percent holding prices constant?

► It would shift inward.

► It would rotate about the axis for food.

► It would rotate about the axis for racquetballs.

► It would shift outward.

Question No: 32 ( Marks: 1 ) - Please choose one

According to the utility model of consumer demand, the law of diminishing marginal utility indicates that the demand curve is:

► Vertical.

► U-shaped.

► Upward-sloping.

► Downward-sloping.

Question No: 33 ( Marks: 1 ) - Please choose one

Cross-price elasticity measures whether:

► Goods are normal or inferior.

► Two goods are substitutes or complements.

► Demand is elastic or inelastic.

► Supply is steeper than demand or vice versa.

Question No: 34 ( Marks: 1 ) - Please choose one

Which of the following will be TRUE if demand is inelastic?

► The coefficient of elasticity is greater than one.

► The percentage change in quantity demanded is same as the percentage change in the price.

► An increase in price will increase total revenue.

► None of the given options.

Question No: 35 ( Marks: 1 ) - Please choose one

Suppose your local public golf course increases the greens fees for using the course. If the demand for golf is relatively inelastic, you would expect:

► A decrease in total revenue received by the course.

► An increase in total revenue received by the course.

► No change in total revenue received by the course.

► An increase in the amount of golf played on the course.

Question No: 36 ( Marks: 1 ) - Please choose one

Aslam decides to stay at home and study for his exam rather than going out with his friends to a movie. His dilemma is an example of:

► The economic perspective.

► Marginal analysis.

► Allocative efficiency.

► Opportunity cost.

Question No: 37 ( Marks: 1 ) - Please choose one

Government authorities have managed to reduce the unemployment rate from 8% to 4% in a hypothetical economy. As a result:

► The economy's production possibilities curve will shift outward.

► The economy's production possibilities curve will become steeper.

► The economy will move downward along its production possibilities curve.

► The economy will move from a point inside to a point closer to its production possibilities curve.

Question No: 38 ( Marks: 1 ) - Please choose one

Land is best described as:

► Produced factors of production.

► "Organizational" resources.

► Physical and mental abilities of people.

► "Naturally" occurring resources.

Question No: 39 ( Marks: 1 ) - Please choose one

In pure capitalism, the role of government is best described as:

► Significant.

► Extensive.

► Nonexistent.

► Limited.

Question No: 40 ( Marks: 1 ) - Please choose one

Microeconomics is the branch of economics that deals with which of the following topics?

► The behavior of individual consumers.

► Unemployment and interest rates.

► The behavior of individual firms and investors.

► The behavior of individual consumers and behavior of individual firms and investors.

Question No: 41 ( Marks: 10 )

A. Define “Law of supply” and explain it with a schedule and diagram.

B. What are the factors which cause the shift in market supply curve?

(Marks: 6+4)

ANSWER: LAW OF SUPPLY: It states that as the price goes up the quantity supplied also goes up and when price falls quantity supplied also falls.

Schedule for Supply:

Price (Rs.)	Quantity supplied
5	100
4	95
3	80
2	60
1	40

Factors Causing Shift in Supply Curve:

There are various factors causing shift in market supply curve which are as follows:

Factors changing supply	Effect on supply	Direction of Shift in supply	Equilibrium Price	Equilibrium quantity
Increase in number of suppliers	Increase	Rightward shift	Decrease	Increase
Decrease in number of suppliers	Decrease	Leftward shift	Increase	Decrease
Improved technology	Increase	Rightward shift	Decrease	Increase
Declined technology	Decrease	Leftward shift	Increase	Decrease
Increase in future price	Decrease	Leftward shift	Increase	Decrease
Decrease in future price	Increase	Rightward shift	Decrease	Increase
Increase in resources' price	Decrease	Leftward shift	Increase	Decrease
Decrease in resources' price	Increase	Rightward shift	Decrease	Increase

Marks:Question No: 1 ( Marks: 1 ) - Please choose one

Which of the following is a normative statement?

► Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory.

► The minimum wage should not be increased, because to do so would increase unemployment.

► Smoking should be restricted on all airline flights.

► All of the given options. (correct)

Question No: 2 ( Marks: 1 ) - Please choose one

Ceteris paribus means:

► Equal access to public transportation.

► Other things being equal. (correct)

► Other things not being equal.

► All things considered.

Question No: 3 ( Marks: 1 ) - Please choose one

An increase in supply is shown by:

► Shifting the supply curve to the left.

► Shifting the supply curve to the right. (correct)

► Upward movement along the supply curve.

► Downward movement along the supply curve.

Question No: 4 ( Marks: 1 ) - Please choose one

Which of the following is calculated as the percentage change in quantity demanded of a given good with respect to the percentage change in the price of another good?

► Price elasticity of demand.

► Income elasticity of demand.

► Cross price elasticity of demand. (correct)

► Price elasticity of supply.

Question No: 5 ( Marks: 1 ) - Please choose one

In order to calculate the price elasticity of supply, you need to know:

► Two prices and two quantities supplied. (correct)

► The slope of the supply curve.

► The equilibrium price and quantity in the market.

► The quantity supplied at two different prices, all else equal.

Question No: 6 ( Marks: 1 ) - Please choose one

Which of the following is the term that economists use to describe how consumers rank different goods and services?

► Satisfaction index.

► Goodness.

► Utility. (correct)

► None of the given options.

Question No: 7 ( Marks: 1 ) - Please choose one

If a consumer’s marginal rate of substitution equals 2 eggs for 1 hamburger then:

► The consumer’s indifference curve must be positively sloped.

► The consumer’s indifference curve must be convex with respect to the origin of the graph.

► The ratio of the consumer’s marginal utility of 1 egg to that of 1 hamburger must equal ½. (correct)

► All of the given options.

Question No: 8 ( Marks: 1 ) - Please choose one

As long as all prices remain constant, an increase in money income results in:

► An increase in the slope of the budget line.

► A decrease in the slope of the budget line.

► An increase in the intercept of the budget line. (correct)

► A decrease in the intercept of the budget line.

Question No: 9 ( Marks: 1 ) - Please choose one

The income effect of a price change:

► Is always positive.

► Is always negative.

► May be positive or negative. (correct)

► Is associated with a change in nominal income.

Question No: 10 ( Marks: 1 ) - Please choose one

Which of the following is considered to be a variable cost in the long run?

► Expenditures for wages.

► Expenditures for research and development.

► Expenditures for raw materials.

► All of the given options. (correct)

Question No: 11 ( Marks: 1 ) - Please choose one

_______________ arises when an increase in all inputs leads to a more-than-proportional increase in the level of output. _____________ means that as inputs are added to the production process, output increases proportionally.

► Economies of scale; constant returns to scale. (correct)

► Constant returns to scale; decreasing returns to scale.

► Decreasing returns to scale; economies of scale.

► Economies of scale; decreasing returns to scale.

Question No: 12 ( Marks: 1 ) - Please choose one

If isoquants are straight lines, it means that:

► Only one combination of inputs is possible.

► There is constant returns to scale.

► Inputs have fixed costs at all use rates.

► The marginal rate of technical substitution of inputs is constant. (correct)

Question No: 13 ( Marks: 1 ) - Please choose one

Costs determine all of the following EXCEPT:

► Demand for a product. (correct)

► Firm's behaviour.

► How firms should expand?

► Firm's profitability.

Question No: 14 ( Marks: 1 ) - Please choose one

At the profit-maximizing level of output, marginal profit:

► Is positive.

► Is increasing.

► Is zero. (correct)

► Is also maximized.

Question No: 15 ( Marks: 1 ) - Please choose one

A perfectly competitive firm maximizes profit by finding the level of production at which:

► Price = Marginal Cost. (correct)

► Price = Average Total Cost.

► Average Total Cost = Marginal Cost.

► Price < Marginal Cost.

Question No: 16 ( Marks: 1 ) - Please choose one

As compared to existing firms, a new firm entering in monopolist market has:

► High costs.

► Low costs.

► Equal costs.

► None of the given options. (correct) 60% CONFIDENCE BCZ ENTERANCE OF NEW FIRM IS RESTRICTED

Question No: 17 ( Marks: 1 ) - Please choose one

Cartels are likely to fail when:

► The members adhere to their output quotas.

► The non-cartel members increase output. (correct)

► The members charge identical prices.

► None of the given options.

Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following best expresses the law of demand?

► A higher price reduces demand.

► A lower price reduces demand.

► A higher price reduces quantity demanded. (correct)

► A lower price shifts the demand curve to the right.

Question No: 19 ( Marks: 1 ) - Please choose one

If the cross price elasticity of demand between two goods X and Y is positive; it means that goods are:

► Independent.

► Complements.

► Substitutes. (correct)

► Inferior.

Question No: 20 ( Marks: 1 ) - Please choose one

If the income elasticity of demand is 1/2, the good is:

► A luxury. (correct)

► A normal good (but not a luxury).

► An inferior good.

► A Giffen good.

Question No: 21 ( Marks: 1 ) - Please choose one

If the demand curve for a good is downward sloping, then the good:

► Must be inferior.

► Must be giffen.

► Can be normal or inferior.

► Must be normal. (correct)

Question No: 22 ( Marks: 1 ) - Please choose one

What is meant by freedom of enterprise in pure capitalism?

► It means that businesses are free to produce products that consumers want. (correct)

► It means that consumers are free to buy goods and services that they want.

► It means that resources are distributed freely to businesses.

► It means that government is free to direct the actions of businesses.

Question No: 23 ( Marks: 1 ) - Please choose one

What questions are related with explanation? What questions are related with what ought to be?

► Positive, negative.

► Negative, normative.

► Normative, positive. (correct)

► Positive, normative.

Question No: 24 ( Marks: 1 ) - Please choose one

Which of the following will happen if the current market price is set below the market clearing level?

► There will be a surplus to accumulate.

► There will be downward pressure on the current market price.

► There will be upward pressure on the current market price. (correct)

► There will be lower production during the next time period.

Question No: 25 ( Marks: 1 ) - Please choose one

What is meant by the term utility?

► Useless.

► Require.

► Necessary.

► Satisfaction. (correct)

Question No: 26 ( Marks: 1 ) - Please choose one

The total cost (TC) function is given as: TC = 200 + 5Q. What is the variable cost?

► 5Q. (correct)

► 5.

► 5 + (200/Q).

► 200.

Question No: 27 ( Marks: 1 ) - Please choose one

Which of the following is NOT included in the perfect information assumption of perfect competition?

► Consumers know their preferences.

► Consumers know their income levels.

► Consumers know the prices available.

► Consumers can anticipate price changes. (correct)

Question No: 28 ( Marks: 1 ) - Please choose one

Which of the following is TRUE for third-degree price discrimination?

► Charging different prices to different groups based upon differences in elasticity of demand. (correct)

► Charging each consumer the same two part tariff.

► The use of increasing block rate pricing.

► Charging lower prices the greater the quantity purchased.

Question No: 29 ( Marks: 1 ) - Please choose one

The government can regulate monopolies to ensure that they set a price where the AR curve intersects the

► Marginal revenue curve. (correct)

► Average variable cost.

► Marginal cost curve.

► None of the given options.

Question No: 30 ( Marks: 1 ) - Please choose one

A reduced price may be offered if you buy two t-shirts instead of just one. This is an example of

► Perfect competition.

► First-degree price discrimination.

► Monopoly.

► Second-degree price discrimination. (correct)

Question No: 31 ( Marks: 1 ) - Please choose one

When different prices are charged to customers who purchase different quantities, this is an example of

► Second-degree price discrimination. (correct)

► First-degree price discrimination.

► Monopoly.

► Perfect competition.

Question No: 32 ( Marks: 1 ) - Please choose one

The demand curve for eggs is downward-sloping. Suddenly the price of eggs decreases from Rs.60/- per dozen to Rs.50/- per dozen. This will cause:

► The demand curve for eggs to shift leftward.

► Quantity demanded of eggs to decrease.

► The demand curve for eggs to shift rightward. (correct)

► Quantity demanded of eggs to increase.

Question No: 33 ( Marks: 1 ) - Please choose one

Slope and elasticity of demand have

► A direct relation. (correct)

► An inverse relationship.

► No relation between slope and elasticity.

► None of the given options.

Question No: 34 ( Marks: 1 ) - Please choose one

If you sum the marginal utilities obtained by consumption from one unit to five units of any commodity, you will get:

► The marginal utility for the consumption of the fifth unit.

► The marginal utility for the consumption of the sixth unit.

► The total utility for the consumption of the first five units. (correct)

► The average utility for the consumption of the first five units.

Question No: 35 ( Marks: 3 )

Why the monopolists produce lower quantities at higher prices compared to perfectly competitive firms?

Ans:

1) Large initial fixed cost is involved

2) Product differentiation or drabd loyalty

3) Monopolistic controls the supply of key factors of production

\Question No: 36 ( Marks: 5 )

Write down any five situations in which cartel can survive?

Ans:

1) Cartel can survive when number of firms is small.

2) When the collusion is tacit or hidden not explicit.

3) The products are homogeneous.

4) Industry is sable

5) There is opening among the firms regarding their production process.

6) Government’s strictness in implementing antitrust law.

Question No: 37 ( Marks: 5 )

Differentiate between external economies of scale and external diseconomies of scale with the help of examples.

Ans:

External economies: These are the benefits which are accured to any firm in the presence of other firms. For example setting of credit information bureaus by bank , advertising by industry such as rival industry.

Discovery of new techniques.

This type of economy occurs when an industry is heavily concentrated in a particular area.

Economies is available to all firms for example construction of roads

External diseconomies of scale :

These are the forces which causes the large firms to produce goods and services at increased per unit costs.

This type of scale occurs when an industry grows larger and shortage of skilled laor taking place and shortage of raw materials are the types of external diseconomies.

When a firm become large then supervision of workers become difficult and problem is created for management is taking place which cause adverse effect on efficiency.

ECO401 Economics Latest Midterm Papers

2010-12-03T12:38:00.000-08:00

Question No: 1 ( Marks: 1 ) - Please choose one

Land is best described as:

► Produced factors of production.

► "Organizational" resources.

► Physical and mental abilities of people.

► "Naturally" occurring resources.

Question No: 2 ( Marks: 1 ) - Please choose one

While moving from left to right, the typical production possibilities curve has:

► An increasingly steep negative slope.

► A decreasingly steep negative slope.

► An increasingly steep positive slope.

► A constant and negative slope.

Question No: 3 ( Marks: 1 ) - Please choose one

When government sets the price of a good and that price is above the equilibrium price, the result will be:

► A surplus of the good.

► A shortage of the good.

► An equilibrium.

► None of the given options.

Question No: 4 ( Marks: 1 ) - Please choose one

If pen and ink are complements, then an increase in the price of pen will cause:

► An increase in the price of ink.

► Less ink to be demanded at each price.

► A decrease in the demand for pen.

► A rightward shift in the demand curve for ink.

Question No: 5 ( Marks: 1 ) - Please choose one

An increase in supply is shown by:

► Shifting the supply curve to the left.

► Shifting the supply curve to the right.

► Upward movement along the supply curve.

► Downward movement along the supply curve.

Reference

Question No: 6 ( Marks: 1 ) - Please choose one

When an industry's raw material costs increase, other things remaining the same:

► The supply curve shifts to the right.

► Output increases regardless of the market price and the supply curve shifts upward.

► Output decreases and the market price also decrease.

► The supply curve shifts to the left.

Question No: 7 ( Marks: 1 ) - Please choose one

Sugar can be refined from sugar beets. When the price of those beets falls:

► The demand curve for sugar would shift right.

► The demand curve for sugar would shift left.

► The supply curve for sugar would shift right.

► The supply curve for sugar would shift left.

Question No: 8 ( Marks: 1 ) - Please choose one

The price elasticity of demand measures the responsiveness of quantity demanded to:

► Quantity demanded.

► Quantity supplied.

► Price.

► Output.

Question No: 9 ( Marks: 1 ) - Please choose one

Since the fish that are caught each day go bad very quickly, the daily catch will be offered for sale no matter what price it brings. As a result, we know that:

► None of the given options.

► The daily supply curve for fish slopes upward.

► The daily supply curve for fish is perfectly inelastic.

► The daily supply curve for fish is perfectly elastic.

Question No: 10 ( Marks: 1 ) - Please choose one

In order to calculate the price elasticity of supply, you need to know:

► Two prices and two quantities supplied.

► The slope of the supply curve.

► The equilibrium price and quantity in the market.

► The quantity supplied at two different prices, all else equal.

Question No: 11 ( Marks: 1 ) - Please choose one

Suppose the first four units of an output produced incur corresponding total costs of 50, 150, 300, and 500. The marginal cost of the second unit of output is:

► 50.

► 100.

► 150.

► 200.

Question No: 12 ( Marks: 1 ) - Please choose one

Law of diminishing marginal utility indicates that the slope of the marginal utility curve is:

► Horizontal.

► Vertical.

► Negative.

► Positive.

Question No: 13 ( Marks: 1 ) - Please choose one

Assume that the total utilities for the fifth and sixth units of a good consumed are 83 and 97, respectively. The marginal utility for the sixth unit is:

► -14.

► 14.

► 83.

► 97.

Question No: 14 ( Marks: 1 ) - Please choose one

Suppose that the price of a pizza is $10 and price of a jeans is $30. If ratio of marginal utility of pizza to marginal utility of jeans is 1/4 then to maximize total utility, a consumer should:

► Buy more pizzas and fewer jeans.

► Buy fewer pizzas and more jeans.

► Continue to buy the same quantities of pizza and jeans.

► Spend more time consuming pizza.

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following is NOT an assumption of ordinal utility analysis?

► Consumers are consistent in their preferences.

► Consumers can measure the total utility received from any given basket of good.

► Consumers are non-satiated with respect to the goods they confront.

► All of the given options are true.

Question No: 16 ( Marks: 1 ) - Please choose one

Assume leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:

► Increase hours of work.

► Decrease hours of work.

► Not change hours of work.

► None of the given options.

Question No: 17 ( Marks: 1 ) - Please choose one

► Economies of scale.

► Diseconomies of scale.

► Decreasing returns to the labor inputs.

► Increasing returns to the labor inputs.

Question No: 18 ( Marks: 1 ) - Please choose one

A graph showing all the combinations of capital and labour available for a given total cost is the:

► Budget constraint.

► Expenditure set.

► Isoquant.

► Isocost.

Question No: 19 ( Marks: 1 ) - Please choose one

An isoquant curve shows:

► All the alternative combinations of two inputs that yield the same maximum total product.

► All the alternative combinations of two products that can be produced by using a given set of inputs fully and in the best possible way.

► All the alternative combinations of two products among which a producer is indifferent because they yield the same profit.

► None of the given options.

Question No: 20 ( Marks: 1 ) - Please choose one

L-shaped isoquant:

► Indicate that capital and labor cannot be substituted for each other in production.

► Is impossible.

► Indicate that the firm could switch from one output to another costlessly.

► Indicate that the firm could not switch from one output to another.

Question No: 21 ( Marks: 1 ) - Please choose one

Costs determine all of the following EXCEPT:

► Demand for a product.

► Firm's behaviour.

► How firms should expand?

► Firm's profitability.

Question No: 22 ( Marks: 1 ) - Please choose one

Total costs are the sum of:

► Marginal costs and variable costs.

► Fixed costs and variable costs.

► Fixed costs and marginal costs.

► Average variable costs and marginal costs.

Question No: 23 ( Marks: 1 ) - Please choose one

To find the profit maximizing level of output, a firm finds the output level where:

► Price equals marginal cost.

► Marginal revenue and average total cost.

► Price equals marginal revenue.

► None of the given options.

Question No: 24 ( Marks: 1 ) - Please choose one

The good produced by a monopoly:

► Has perfect substitutes.

► Has no substitutes at all.

► Has no close substitutes.

► Can be easily duplicated.

Question No: 25 ( Marks: 1 ) - Please choose one

A perfectly competitive firm maximizes profit by finding the level of production at which:

► Price = Marginal Cost.

► Price = Average Total Cost.

► Average Total Cost = Marginal Cost.

► Price < Marginal Cost.

Question No: 26 ( Marks: 1 ) - Please choose one

The monopolist has no supply curve because:

► The quantity supplied at any particular price depends on the monopolist's demand curve.

► The monopolist's marginal cost curve changes considerably over time.

► The relationship between price and quantity depends on both marginal cost and average cost.

► Although there is only a single seller at the current price, it is impossible to know how many sellers would be in the market at higher prices.

Question No: 27 ( Marks: 1 ) - Please choose one

In monopoly, which of the following is TRUE at the output level, where price = marginal cost?

► The monopolist is maximizing profit.

► The monopolist is not maximizing profit and should increase output.

► The monopolist is not maximizing profit and should decrease output.

► The monopolist is earning a positive profit.

Question No: 28 ( Marks: 1 ) - Please choose one

Following are the disadvantages of monopoly EXCEPT:

► Monopolists earn higher profits.

► Monopolists produce high quality goods at higher prices.

► Most of the “surplus” (producer + consumer surplus) accrues to monopolists.

► Monopolists do not pay sufficient attention to increasing efficiency.

Question No: 29 ( Marks: 1 ) - Please choose one

When a firm charges each customer the maximum price that the customer is willing to pay, the firm:

► Engages in a discrete pricing strategy.

► Charges the average reservation price.

► Engages in second-degree price discrimination.

► Engages in first-degree price discrimination.

Question No: 30 ( Marks: 1 ) - Please choose one

Third-degree price discrimination involves:

► Charging each consumer the same two part tariff.

► Charging lower prices the greater the quantity purchased.

► The use of increasing block rate pricing.

► Charging different prices to different groups based upon differences in elasticity of demand.

Question No: 31 ( Marks: 1 ) - Please choose one

Which of the following is true in long run equilibrium for a firm in a monopolistic competitive industry?

► The demand curve is tangent to marginal cost curve.

► The demand curve is tangent to average cost curve.

► The marginal cost curve is tangent to average cost curve.

► The demand curve is tangent to marginal revenue curve.

Question No: 32 ( Marks: 1 ) - Please choose one

Which of the following would most likely shift the production possibilities curve for a nation outward?

► A reduction in unemployment.

► An increase in the production of capital goods.

► A reduction in discrimination.

► An increase in the production of consumer goods.

Question No: 33 ( Marks: 1 ) - Please choose one

A demand schedule is best described as:

► A numerical tabulation of the quantity demanded of a good at different prices, ceteris paribus.

► A graphical representation of the law of demand.

► A systematic listing of all the variables that might conceivably bring about a change in demand.

► A symbolic representation of the law of demand: P,Q and Q, P.

Question No: 34 ( Marks: 1 ) - Please choose one

A partial explanation for the inverse relationship between price and quantity demanded is that a:

► Lower price shifts the supply curve to the left.

► Higher price shifts the demand curve to the left.

► Lower price shifts the demand curve to the right.

► Higher price reduces the real incomes of buyers.

Question No: 35 ( Marks: 1 ) - Please choose one

The total utility curve for a risk neutral person will be:

► Straight line.

► Convex.

► Concave.

► None of the given options.

Question No: 36 ( Marks: 1 ) - Please choose one

Figure

In figure given above, the marginal utility of income is:

► Increasing as income increases.

► Constant for all levels of income.

► Diminishes as income increases.

► None of the given options.

Question No: 37 ( Marks: 1 ) - Please choose one

A welfare loss occurs in monopoly where:

► The price is greater than the marginal cost.

► The price is greater than the marginal benefit.

► The price is greater than the average revenue.

► The price is greater than the marginal revenue.

Question No: 38 ( Marks: 1 ) - Please choose one

Which of the following is NOT a factor of production?

► Labour.

► Land.

► Capital.

► Investment.

Question No: 39 ( Marks: 1 ) - Please choose one

Which of the following does NOT refer to macroeconomics?

► The study of the aggregate level of economic activity.

► The study of the economic behavior of individual decision-making units such as consumers, resource owners, and business firms.

► The study of the cause of unemployment.

► The study of the cause of inflation.

Question No: 40 ( Marks: 1 ) - Please choose one

Demand is elastic when the elasticity of demand is:

► Greater than 0 but less than 1.

► Greater than 1.

► Less than 0.

► Equal to 1.

Question No: 41 ( Marks: 10 )

A. Differentiate between risk and uncertainty.

B. What would the risk neutral person, risk averse person and risk loving person do in the following cases?

o If Odds Ratio > 1

o If Odds Ratio = 1

o If Odds Ratio < 1

C. You toss a coin, if head comes, you are given Rs. 200 and if tail comes, you have to pay Rs. 200. Will you play this game or not? Give your answer with brief explanation.

(Marks: 3+3+4)

Answers : A)

Risk and Uncertainty : Risk is when an outcome may or may not occur but its probability is known while uncertainty is when an outcome may or may not occur but its probability is not known.

Answers : B)

1) For risk neutral person

o If Odds Ratio > 1, then he will definitely buy

o If Odds Ratio = 1, then he will be indifferent

o If Odds Ratio < 1, then he might not buy as OR < 1

2) For risk averse person

o If Odds Ratio > 1, then in this case as well he might decide not to buy.

o If Odds Ratio = 1, then he will definitely not buy

o If Odds Ratio < 1, then he will definitely not buy

3) For risk loving person

o If Odds Ratio > 1, then he will definitely buy

o If Odds Ratio = 1, then he will definitely buy

o If Odds Ratio < 1, then in this case as well he might decide to buy.

Answers : C)

CS601 Data Communication Latest Mid Term Papers

2010-12-03T12:36:00.000-08:00

Question No: 1 ( Marks: 1 ) - Please choose one

Before writing a message, which of the following steps are necessary for effective communication?

► Define the purpose of the message.

► Analyze your audience – readers or listeners, outline – organize – your message.

► Choose the ideas to include, collect all the facts to back up these ideas.

► All of the above (correct) page 42

Question No: 2 ( Marks: 1 ) - Please choose one

In order to understand verbal and nonverbal communication which of the following things should we do?

► Accept cultural differences

► Studying your own culture

► Learn about other cultures

► All of the above (correct) page 41

Question No: 3 ( Marks: 1 ) - Please choose one

Which one is the aspect of life styles of the country?

► Position of the family

► Social and economic levels

► Business hours

► All the above (correct) page 33.

Question No: 4 ( Marks: 1 ) - Please choose one

It is that part of language associated with but not involving the word system. It consists of the voice qualities and vocalizations that affect how something is said rather than what is said.

Select one which is true from the followings.

► Kinesics behaviour

► Paralanguage (correct) page 16

► Proximity

► Artifacts

Question No: 5 ( Marks: 1 ) - Please choose one

Which one is not the component of communication process from the followings?

► Sender/encoder,

► Message, medium,

► Receiver/decoder, feedbacks.

► Audio-visual and technological (correct) page 10

Question No: 6 ( Marks: 1 ) - Please choose one

Message

Communicator Audience

As “sender” Noise as “receiver”

This model represents which theory of communication?

► Social environment theory

► General theory

► Rhetorical theory

► Electronic theory page 8

Question No: 7 ( Marks: 1 ) - Please choose one

A formal style is characterized by more------------ sentences.

► simple

► complex (correct) page 23

► easy

► short

Question No: 8 ( Marks: 1 ) - Please choose one

All seven C’s can be applied to:

► Oral and written communication

► Written and non verbal communication

► Oral and verbal communication

► Effective business communication (correct) page 42

Question No: 9 ( Marks: 1 ) - Please choose one

In which communication expressions are not encoded in words?

► Non-verbal (correct) page 15

► Verbal

► Written

► Verbal and written

Question No: 10 ( Marks: 1 ) - Please choose one

An effective way of maintaining communication with employees is to monitor:

► Feedback

► Behaviour (correct) no reference 60% confidence

► Environment of the company

► Situation

Question No: 11 ( Marks: 1 ) - Please choose one

---------------- type of flow takes place between peers in organizations in order to solve problems.

► Horizontal (correct)page 6

► Downward

► Upward

► Circular

Question No: 12 ( Marks: 1 ) - Please choose one

In refusal letter, at which place do we give explanation of the refusal?

► Beginning

► Middle pg 87

► End

► Between beginning and middle

Question No: 13 ( Marks: 1 ) - Please choose one

-----------allows several people to use software at the same time to create documents, keep track of projects.

► Software

► Groupware (correct) page 61

► E-mail

► Network

Question No: 14 ( Marks: 1 ) - Please choose one

A person should follow which one of the the following characteristics while writing an email?

► Concise, clear and polite (correct) no reference 90% confidence

► Verbose, rude and harsh

► Impolite and having negative tone

► Moderate

Question No: 15 ( Marks: 1 ) - Please choose one

Even the salutation and the complementary close have no punctuation in:

► Open punctuation (correct) page 52

► Standard punctuation

► Close punctuation

► Long punctuation

Question No: 16 ( Marks: 1 ) - Please choose one

- --------------- is a printed paper with the name and address of a person or organization.

► Letterhead page 48

► Letter pad

► Leaflet

► Document

Question No: 17 ( Marks: 2 )

Which points should be kept in mind while writing get-well wishes and sympathy letters.

Question No: 18 ( Marks: 2 )

Redraft the message for clarity

The identification and classification of the various histological types of lymphomas are vital steps toward the introduction of new therapies and the reduction of mortality.

Question No: 19 ( Marks: 3 )

What is buffer?

Question No: 20 ( Marks: 5 )

Individual culutral variables are very important to understand interculutral communication, discuss with three individual cultural variables.

Question No: 21 ( Marks: 10 )

Expalin the term culture and point out the main aspects of intercultural model.

MTH202 Assignment # 2 Solution

2010-11-12T12:18:00.000-08:00

MGT601 GDB Solution

2010-11-12T12:15:00.001-08:00

Do you think the efforts made by the Government of Pakistan to boost the SMEs sector are in the right direction?Discuss

Although many steps have been taken by government of Pakistan for the promotion SME sector e.g. initialization of SME policy development, Industrial Information Network, Industry Support Program and founding of institutions on provincial bases. And there has been some success on limited bases like the awareness-creation role (cluster-development) of the project has been particularly important, and achieved considerable success.

yet there is lot need be done. Out of many problems, cumbersome procedure by Government agencies, taxation and other charges promoting lack of documentation or incorrect documentation done by SME entrepreneurs, inconsistent government policies discouraging entrepreneurs to develop long-term vision, lack of formal technical education, non-internalization of new technologies, lack of basic infrastructure, finance, marketing etc. and most important of all, these factors discouraged commercial banks to extend financing to SME sector especially when specialized Government institutes such as SBFC, RDFC etc. failed to be feasible. Such circumstances shows that path chosen by the government for the development of SME sector but it will go on wrong direction if the above mentioned would not be seriously considered and sort out by the government of Pakistan.

MGT501 GDB # 1 Solution

2010-11-11T14:45:00.001-08:00

The links between HR effectiveness and organizational effectiveness could be explored from different conceptual angles. In this particular empirical study, the focus is on the multiple links that exist between certain HR policies and practices (i.e., staffing, compensation, training and the like), the characteristics of the HR Department (i.e., ratio of professionals, average level of education, and others), and the overall economic performance / success of the firm.
Organizations must determine their strategic direction and the outcomes they seek. This is usually accomplished with some form of strategic planning. Classic strategic planning is a formal, top-down, staff-driven process. When done well, it is workable at a time when external change occurs at a more measured pace. Plans and strategies are so fundamental that there must be clear plans to address them before the organisation can achieve on any of its goals. These are likely to include:

• Workforce planning issues
• succession planning
• workforce skills plans
• employment equity plans
• black economic empowerment initiatives
Suppose HR has a policy to only hire applicants who are college graduates (they are an engineering firm). Management decides to embark on a new strategy of constructing some of the units they have designed. The HR policy would work for the construction manager, but not for the welders, pipe fitters, electricians, painters, insulators, etc. that they would need to complete such projects.

MGT502 GDB # 1 Solution

2010-11-11T14:44:00.003-08:00

Mr. Ali is an IT specialist and works in a Software House. He is awarded "Employee of the Year" award. The fact is that, he is considered as one of the most enthusiastic, broad-minded, innovative and creative software developer. Also, his colleagues and coworkers term him as a trustworthy and well-mannered person.
Evaluate the personality of Mr. Ali in the light of Big Five Personality Model, point out and discuss two factors on which he is on higher end.

Mr. Ali is an IT specialist and works in a Software House. He is awarded "Employee of the Year" award. The fact is that, he is considered as one of the most enthusiastic, broad-minded, innovative and creative software developer. Also, his colleagues and coworkers term him as a trustworthy and well-mannered person.

Evaluate the personality of Mr. Ali in the light of Big Five Personality Model, point out and discuss two factors on which he is on higher end.

Answer:
The Big Five personality model
Personality test has evolved on the basis of the early thoughts and thinking of Freud. For long Meyers Briggs Type Indicator (MBTI) has been the undisputed leader in the personality test field. Big Five has taken up the competition with the MBTI about being the most popular/progressive personality test.
Big Five Personality traits
The Big Five personality traits is summarized below:
• Openness - open-minded, an interest in art, emotional, adventurous, new ideas and curiosity.
• Conscientiousness - typically self-disciplined, result oriented and structured, tradition and dutiful.
• Extraversion - high energy level, people person, extrovert and gets stimulated by being around others.
• Agreeableness - compassionate, cooperative, ability to forgive and being pragmatic, lets get the thing done.
• Neuroticism - sensible, vulnerable, in extreme: emotional unstable and neurotic.
The big five model tests help you identify your personality traits and explore your strengths. You must be honest while answering the questions because feedback is given only with your answers.
Feedback based on big five model is generally given in percentile scores signifying the presence of each of the factor in your whole personality.
Big Five Personality score
Studies suggest that that the distributed average score of people on the Big Five traits is as the following:
• Openness: 57%
• Extraversion: 54%
• Conscientiousness: 49%
• Neuroticism: 48%
• Agreeableness: 42%

CS507 Assignment # 2 Solution

2010-11-11T14:44:00.001-08:00

CS 507_Idea Solution:

Question 1:Give at least 2 examples of each type of system. [5 marks]

1. Transaction processing systems
2. Office Automation Systems
3. Knowledge Work Systems
4. Decision Support Systems
5. Management information systems

Solution:

1. Transaction processing systems
Definition: A Transaction Processing System (TPS) is a type of information system that collects, stores, modifies and retrieves the data transactions of an enterprise.
Examples:
 Order entry systems
 Scanner-based point-of-sale registers
 Automatic teller machines
 Airline reservation applications

2. Office Automation Systems
Office Automation Systems Include formal and informal electronic systems primarily concerned with the communication of information to and from persons both inside and outside the firm. It supports data workers in an organization.
Examples:
 Word processing
 Desktop publishing
 Imaging & Web publishing
 Electronic calendars – manager's appt. calendars
 Email
 Audio & video conferencing – establishing communication between geographically dispersed persons.

3. Knowledge Work Systems
Knowledge work systems are there to help to deal with problems requiring technical expertise or knowledge. Software includes:
 CAD for designers
 Expert systems for specialist staff
 Word-processing for clerical staff
 Spreadsheets for accounts, and sales staff
 Database managements systems for keeping records
 Project management systems

4. Decision Support Systems
Decision-support systems are designed to allow analysts to extract information quickly and easily. The data being analyzed is often historical: daily, weekly, and yearly results.
Examples:
 Applications for analysis of sales revenue,
 Marketing information,
 Insurance claims
 Catalog sales

5. Management information systems
MIS is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organization.
'MIS' is a planned system of collecting, processing, storing and disseminating data in the form of information needed to carry out the functions of management.
Examples:
 Enterprise resource planning
 Decision Support Systems (DSS)
 Office Automation

Question 2:
How an Information system can help to meet call centre challenges? [5 marks
Solution:
 Simplify complex tasks (no experts, consultants needed)
 Make tasks quicker to perform (efficiency gain)
 Fewer errors so quality improves (effectiveness)
 Time needed to fix errors is reduced (efficiency).
 Output is better quality
 Improve communication and collaboration with email, chat etc
 Better decision making with management support tools
 Frees people from tedious jobs - do better things
 Allow the use of virtual team

MGT501 GDB # 1 Solution
Posted: 10 Nov 2010 03:45 AM PST
Solution:

The links between HR effectiveness and organizational effectiveness could be explored from different conceptual angles. In this particular empirical study, the focus is on the multiple links that exist between certain HR policies and practices (i.e., staffing, compensation, training and the like), the characteristics of the HR Department (i.e., ratio of professionals, average level of education, and others), and the overall economic performance / success of the firm.
Organizations must determine their strategic direction and the outcomes they seek. This is usually accomplished with some form of strategic planning. Classic strategic planning is a formal, top-down, staff-driven process. When done well, it is workable at a time when external change occurs at a more measured pace. Plans and strategies are so fundamental that there must be clear plans to address them before the organisation can achieve on any of its goals. These are likely to include:

• Workforce planning issues
• succession planning
• workforce skills plans
• employment equity plans
• black economic empowerment initiatives
Suppose HR has a policy to only hire applicants who are college graduates (they are an engineering firm). Management decides to embark on a new strategy of constructing some of the units they have designed. The HR policy would work for the construction manager, but not for the welders, pipe fitters, electricians, painters, insulators, etc. that they would need to complete such projects.

CS302 Assignment # 1 Solution

2010-11-08T12:46:00.003-08:00

Question_1:

Convert following decimal values to binary:

3.25
3.25 = 11.01
20.20
10100.00110011

Question_2:
Express each decimal number as an 8-bit number in the 2's complement form:

+18
00010010
-117
11110101

Question_3:
Represent the following binary numbers in Hexadecimal:

1111110000
0011
1111
0000 3
F
0
Two zeros have been added to complete a 4-bit ***** at the left
1001001001000
0001
0010
0100
1000 1

2
4
8
Three zeros have been added to complete a 4-bit ***** at the left
Question_4:
What is the highest decimal number that can be represented by each of the following numbers of binary digits (bits) ? (litlle doubted plz confirm ur self)

two
10
eight
1000
sixteen
10000
thirty-two
100000

CS302 Assignment # 1 Solution

2010-11-08T12:46:00.001-08:00

MCM301 Assignment # 1 Solution

2010-11-08T12:45:00.001-08:00

Assignment 1 Communication skill
Q1; Nature give us one tongue and two ears so we could hear twice as much as we speak. Elaborate the statement with reference to the importance of listening skill?

Answer; Studies shows that 80 percent of our waking hours communicating and at least 45% on listening. As a student average 53% walking hours spend on listening. Listening is the process by which spoken language is converted to meaning in the mind. Good listener become good communicator and skillful listener learn from others. Listening is an active search of meaning.
But although listening is so critical in our daily lives. It is more important from other three basic communication skills. Much of the trouble we have communicating with others is because of poor listening.

Q2; being the student of Virtual university, Point out what communication barriers do you face while watching the course lectures. Also suggest some ways through which these barriers could be reduced. Do remember that the barriers can be both from sender's side as well as from receiver's side?

Answer; when we listen our lecture we face following barriers in communication process.
Language difference; Our national language is Urdu and our lectures are in English sometime we face problem of language difference. Inadequate vocabulary; Our education system is poor and our base is not good that's why inadequate vocabulary problem we faced. Internet speed; I belong with rural area where internet speed is slow. Noise and personal problems interrupt us durining listening lectures.
One lecture delivered for every kind of students but some are more intelligent then others it is also cause of poor interest in lectures. Teachers not see us they can't know us and they have no knowledge about our education and mental caliper. That's why they send same lectures. It is difficult to understand for every student.
Suggestions
We wants that lectures are delivered in mix language which can be easily understand.
Sometime teachers use new words I want please give his explanation on the spot.
It is necessary for us, when we listen our lecture we close our room and listen with full consideration.
When make the polices must account that you have different type of students.
When we join university we meet one time with our teacher and introduce our self.

MGT211 GDB # 1 Solution

2010-11-08T12:43:00.001-08:00

Ahmad enterprise is a sole proprietorship owned by Mr. Ali.

A. Unlimited

Ahmad enterprise is a 50-50 partnership of Mr. Ali and Mr. Ahmad

B. Unlimited

Ahmad enterprise is a private limited company

C.Limited

Ahmad enterprise is a public limited company

D.Limited

MGT503 GDB # 1 Solution

2010-11-06T10:39:00.001-07:00

Mr. Ali is working as a manager in Global Inc for 15 years. He is successfully managing the Pakistan region. Once, Mr. Aftab Ahmed, CEO of the Global Inc visited Bangladesh and astonished to find out the investment opportunities and hence decided to expand his company to Bangladesh. Seeing the brilliance and competence of Mr. Ali, he appointed him managing director of Bangladesh region. With this new position, do you think Ali can universally apply the management concepts that he have learned? Give rationale.

Solution:

Mr Ali (its me :p) is working as MANAGER his post changes to MANAGING DIRECTOR coz MR.AFTAB AHMED SAHAB appointed him so wat i think managers are more likely concerned with the work directly and can show skills on the other hand Managing director controls managers

MGT603 GDB # 1 Solution

2010-11-06T10:38:00.001-07:00

For ensuring success in business, top management applies different kind of strategies. Suppose if you are a CEO of any bank, what kind of strategies you may design for the better growth and success.

Your job is to only identify anyfour or fivesuccessful strategies for banks

.....
Being a CEO of a bank, I would like to use these strategies to get competitive edge over my competitors;
• Price Leadership Strategy
• Flexibility
• Product or services differentiation
• Time to respond to customers and other changes
• Best possible use of IT & Information System Management
• Strong CRM Department
• Wide range of services to satisfy my customers
• I will try to be proactive rather than to be reactive
• Strong Marketing Department
• Well training Human Resources.

CS201 1st Assignment Solution

2010-11-03T14:00:00.001-07:00

using namespace std;
#include
#include
main()

{
int totalstudent=1;
int A =0,B=0;

char grad(1);

while (totalstudent <= 10)
{
cout"Please Enter Grade of student "totalstudent" :\n";
cin>>grad;
if (grad=='a' or grad =='A')
{
A = A+1;
totalstudent++;
}
else if (grad=='b' or grad =='B')
{
B += 1;
totalstudent++;
}
else
{
cout"\nPlease Enter 'A' or 'B' grade only! \n";

}
}

cout"Total No. of A Grades "A" :\n";

if (A <=2)
{
cout"\nYour class is Poor!\n";
}else if (A <=7)
cout"\nYour class is Good!\n";
else
{
cout"\nYour class is Brilliant!\n";
}
getche();

}

CS615 1st Assignment Solution

2010-11-03T13:02:00.001-07:00

Question # 1:
Choice elements are found in the theory and practice of strategic management and
provide the performance standard by which enterprise resources are identified, selected,
committed for the growth and survival of the organizational process and future products.
Discuss the key choice elements for the strategic management that are important building
blocks in the design and implementation of the strategies for the enterprise’s future.
Solution:
In the management of an enterprise as if its future mattered, nine key choice elements are
involved. These choice elements for the enterprise are:
1. vision
2. mission
3. objectives
4. goals
5. strategies
6. programs
7. projects
8. operational plans
9. organizational design
These choice elements provide for the major performance standards by which enterprise
resources will be identifies, selected, committed, and reviewed in the enterprise for
survival and growth in its future products, services, and organizational processes.
Vision:
A vision is a mental image of what could be anticipated for the enterprise’s future such as
becoming a world-class competitor. One company defined its vision to be a “world-class
competitor and to keep it that way. We have programs in place to do just that such as a
total qualitymanagement process whereby we live quality.” Another company included
in its vision statement: “We will enhance our competitiveness by being first in the
development of advanced technology that supports our world-class products and
services.”
Mission:
The mission of an enterprise answers the basic question: What business are we in? One
project-driven firm defined its mission in the following way: “We are in the business of
designing, developing, and installing energy management systems and services for the
domestic industrial market.”
Objective:
An objective is a statement of the ongoing purposes in the enterprise that must be carried
out to support the organizational mission. A computer company defines one of its
objectives as “leading the state-of-the-art in its products and services.”
Admin MIS (OraiL)
Vu Askari Team
VU Askari
Note: Solve these papers by yourself
This VU Group is not responsible for any solved content
VU Askari
Goal:
A goal is a specific achievement in the satisfaction of enterprise objectives. As a
performance measurement for progress in the use of resources to support corporate
purposes, a goal has a specific time element. One company defined its goals as the
realization of a certain percentage of return on invested assets by a specific date.
Strategy:
An organizational strategy is the design of the means, through the use of resources, to
accomplish end purposes. Strategies also include action plans for establishing the
direction for the coordinated acquisition and use of resources through organizational
design choices. Strategies also provide for the means to obtain resources for the
enterprise, and how to use such resources effectively and efficiently in the fulfillment of
organizational purposes.
Programs:
Programs are resource-consuming combination of organizational resources, which have a
common purpose in supporting the enterprise’s purposes. For example, a productivity
improvement program could be composed of projects such as the following:
 the use of self-managed production teams on the assembly line
 plane and equipment modernization initiatives
 use of computer-aided design and manufacturing
 Changeover of a production facility from conventional manufacturing to
manufacturing cells.
Projects:
Projects are ad hoc, resource-consuming activities used to implement organizational
strategies, achieve enterprise goals and objectives, and contribute to the realization of the
enterprise’s mission.
Operational plans:
Operational plans are those documents developed to guide the organization in a
consistent fashion toward meeting its mission, objectives, and goals through designated
strategies. These plans from the overarching policies, procedures, and practices for when
and how program and project work will be accomplished.
Organizational Design:
Organizational design is the organizational structure that facilitates performing the work.
Organizational design considers the business that is being conducted, the manner in
which work will be conducted, the practices for managing the work effort and strategies
for work accomplishment. An optimal organization design supports the enterprise in
getting its work accomplished in the most competitive way.
Question # 2:
Discuss the planning limitations in formal strategic planning? (At least five)
Solution:
Some limitations of formal strategic planning
Admin MIS (OraiL)
Vu Askari Team
VU Askari
Note: Solve these papers by yourself
This VU Group is not responsible for any solved content
VU Askari
1. The environment that the enterprise faces may change more than expected,
including unexpected events in economics, social issues, war or the threat of war.
The growing threat of terrorism, natural catastrophes like the Katrina hurricane.
2. Resistance by enterprise people. The old way of doing things, old policies, old
strategies, and operating processes and procedures may be so entrenched that it is
difficult to change them.
3. Strategic planning is challenging. It is hard work, expensive, and the desired
results may take years to more about.
4. Formal strategic planning is not designed to get an enterprise out of current
difficulties. But a strategic planning process that has considered alternative
scenarios, both positive and negative, will help to reduce the effects of operational
difficulties.
5. Strategic planning is hard work. It requires imagination, innovation, analytical
ability, creativity, and the resolution to evaluate, choose, and design
implementation strategies for organization products, services, and processes likely
to be relevant several years into the future.
6. Strategic plans are commitments made in the present for alternative choices for
the often distant future. A strategic plan should be a “living document” not
allowed to become fixed for the future, but be a plan whose implementation is
likely to come about assuming that environmental factors remain relatively
constant.

STA301 1st Assignment Solution

2010-11-03T13:01:00.000-07:00

(a)
Solution:
An array is a systematic arrangement of objects, usually in rows and columns.

(b)
Make discrete frequency distribution from the given data,
1,2,3,2,1,2,1,3, 4,5,1,2,3,1,4,2, 2,3,2,1,4,4,4,2,1,

Also find;
• Cumulative frequencies
• Relative frequencies
Solution:

CLASS NO. Frequencies Cumulative frequency Relative frequency
1 7 7 0.28
2 8 7+8 = 15 0.32
3 4 15+4 =19 0.16
4 5 19+5 = 24 0.2
5 1 24+1 = 25 0.04
Total 25 ----

Question no.02

(a) Find Geometric mean from the following data.
1, 2, 3,2,4,5,4,3,4,-1,4, 3,0,1,-3, 2,4
Solution:

Geometric mean can not b calculated as there are some negative values and zero values present in the data.

(b) The weight of the 40 male students at a university is given in the following frequency table:
Weight frequency CF
118-126 3 3
127-135 5 3+5 =
136-144 9 8+9 =
145-153 12 17+12 =
154-162 5 29+5 =
163-171 4 34+4 =
172-180 2 38+2 = (equal to the sum of total frequency.. !

Calculate median and mode from the above data.

Solution:
MODE:
MEDIAN:
Where l=145, h=8, f=12, n/2=20 and c = 17

Put these values in formal and then calculate…
Question no.03

(b) For given data calculate range and coefficient of range,
0.035, 0.045, 0.031, 0.044, 0.032
Solution:
Xm=0.045
X0=0.031
Range: =

Coefficient of range: =
Put the values in the formula then calculate

(c) Calculate an appropriate measure of dispersion for the following data.

Farm Size (acre) No. of Farms
Bellow 40 394
41-80 461
81-120 391
121-160 334
161-200 169
201-240 113
241 and above 148
Solution:
Question solve with quartile deviation;;;
Quartile deviation = Q3 - Q1 / 2

CS610 Assignment # 1 Solution

2010-11-03T12:59:00.002-07:00

Note:- its an guide not a solution but enough for solution

FOR question 1

Page no 28,29

For question 2

Page no 17,18
just read these four pages and your assignment is "SOLVED"

BNK603 Assignment Solution # 1 Solution

2010-11-03T12:59:00.000-07:00

Question 1: Strategic Economies don’t drive from Operational Excellence, but from the business concept itself.

Strategic Economies
Unlike operational efficiencies, Strategic Economies don’t drive from Operational Excellence, but from the business concept itself. Strategic Economic come in three varieties:
1. Scale
2. Focus
3. Scope

1. Scale
Scale can derive efficiencies in many ways through:
 Better Plant Utilization
 Greater Purchasing Power
 The Muscle to enforce industry wide price discipline Industries revolutionaries often consolidate
fragmented industries. Any that gets caught behind the consolidation curve and misses the chance
to build Scale Advantage will be left with a notable disadvantage

2. Focus

A company with a high degree of Focus & Specialization may reap economies compared with competitors
with a more diffused Business Mission and a less coherent mix of products & services.
Focus is not about efficiency in a cost sense; it’s about in a don’t-get-distracted, get-all-the-wood-behindone-
arrow sense.

3. Scope

The idea here is almost opposite of focus. A company that can leverage resources and management talents
across a broad array of opportunities may have an efficiency advantage over firms that cannot. Scope
Economies come from sharing things across business units & countries; Brands, Facilities, Best Practices,
Scare Talent, IT Infrastructure, and so on. Scope Economies come in a variety of flavors; Channel Power &
access to distribution channels, Economies in buying ad space & running high-tech distribution centers.

Question 2 What kinds of challenges are being faced by the retail banking in Pakistan?
Challenges to Retail Banking in Pakistan

 The issue of money laundering is very important in retail banking. This compels all the banks to
 scrutinize diligently all the documents which they accept while entering into a relationship
 Outsourcing has become significant in recent past because various core activities such as hardware
 and software maintenance, entire ATM set up and operation (including cash, refilling) etc., are
 being handled by outside vendors
 Banks are expected to take utmost care to retain the ongoing trust of the public
 Customer service should be at the end all in retail banking. Someone has rightly said, “It takes
 months to find a good customer but only seconds to lose one.” Thus, strategy of Knowing Your
 Customer (KYC) is important
 The dependency on technology has brought IT departments’ additional responsibilities and
 challenges in managing, maintaining and optimizing the performance of retail banking networks
 It is equally important that banks should maintain security to the advance level to keep the faith of
 the customer
 The efficiency of operations would provide the competitive edge for the success in retail banking in
 coming years
 The customer retention is of paramount important for the profitability of retail banking business &
 increase in the market share
 One of the crucial impediments for the growth of this sector is the shortage of manpower talent of
 this specific nature, a modern banking professional, for a modern banking sector

FIN625 Assignment # 1 Solution

2010-11-03T12:58:00.003-07:00

Q1) Credit score is considered one of the best measures for checking the credit standing for anybody. If one has poor credit score then what measures can be taken in order to improve credit score?

There are followings measures to improve credit scores
1) Make your payments on time
2) Not borrowing against lines
3) Budget income
4) Saving money
5) Don’t cancel credit card
6) Pay off large debts
7) don’t cancel credit cards
8) Pay down debts

(Explain any 5 in above)

Q2) while granting loans to applicants, lending institutions first decides whether applicant has good credit worthiness. What factors the lending institutions must consider before sanctioning loan?

Factors that must consider before sanctioning loans are

a) Employment
b) Source Of Income
c) Credit History
d) Stability
e) Purpose Of Taking The Loan
f) Documentation

MGT613 Assignment # 1 Solution

2010-11-03T12:58:00.001-07:00

MGT 613 Idea Solution:

Maximin Approach:

Road S = 40
Road M = 55 the best
Road D = 30

Maximax Apporach:

Road S = 50
Road M = 75
Road D = 85 the best
Laplace approach:
Road S = 43.33
Road M = 63.33 the best
Road D = 56.67
Maximax regret:

The best (doubted
Between Road M & D)
Alternatives Possible Future Demands

Low
Moderate
High
Road S

40-40 = 0
40-60 = -20 50-55 = -5

Road M

55-40 = 15
60-60 = 0
75-55 = 20

Road D

30-40 = -10 55-60 = -10 85-55 = 30
Calculations
Road S = 40+40+50=130/3=43.33
Road M = 55+60+75=190/3=63.33
Road D = 30+55+85=170/3=56.67

MGT301 Assignment # 1 Solution

2010-11-03T12:57:00.003-07:00

CRM? What is Customer Relationship Management.

CRM is the overall progress of building and maintaining profitable customer relationships by delivering superior customer value and services.
In the new view, marketing is the science and art of find, retaining and serving the customer. This is what changes the concept of marketing
Stating this we know that Marketing must be concerned with the life time of the customer. The more the life of the customer is there the more chances are
there to survive in the Market.
For an efficient Customer relationship management customer value and satisfaction is the major point, the purpose behind the CRM is to sustain and keep your customer with you, it helps you apply
the strategies which are focused on increasing the customers satisfaction,
loyalty, and profitability by providing him better service qualities over
your competitors.
Increases the life cycle of a loyal customer as we know that a churning customer is very harmful for the revenue and the market repute of the company at the same time.
Analysis of customers buying trends is made, you know what you are to offer to the targeted customer
Identification of potential customer on his grounds.
Customer satisfaction is 85% more than compared to old school marketing techniques.
You keep the customer wondering, “What is Next?”
Customer demands more than you know what you have to offer them.
Common Goals of CRM.
You want to keep that customer with you then use a CRM design.
It helps business to use technology to get inside the customers life cycle, his trends, his likes and dislikes.
Your company can keep the customers track.
You can follow your buying behavior by the help of a CRM.
Create call center where you can facilitate the customer talk to them, make them feel better by giving them one stop solution.
Elaborate your answers with an example
Collecting data, mining, extracting and Data base Management is the new view. Now marketing is the sciences of searching, attaining, retaining and delighting the customer. Marketing must be considered with the life time value of the value and keeping this in mind CRM is the right tool to keep your customers with you. CRM acts as a Relationship building block with the customer.
Example
Telenor Pakistan
A leading Telecommunication firm establishing its ground in 2005 first quarter is now the second largest in Coverage and Number 1 in customer services (Call center) and Customer Feedback handling (By using CRM)
This firm uses an ORACLE based CRM Customer Relationship management Software called Siebel.
Siebel is the Biggest CRM tools till now available in the market. It contains unlimited Logs of data base and customer information related to every field.
This software being the most advanced DBMS of its time till present definitely given Telenor Pakistan a really big edge over all its competitors.
Advantages of this CRM.
It contains Users primary information
Keeps a track of all the package plan the user has converted into
His last 10 used Value added services
His mostly frequently dialed number
His credit classification according to the revenue he is generating to the company.
Every call the customer has ever made to the call centre for any query is recorded in this CRM for a future reference with a work code assigned for
the question the customer asks.
This basic tool has helped the company evolve into a major Telecommunications Giant in just a small frame of 5 years.
By using this tool the company manages the customer and his feedback.
Over sees what are his expectation and where can we profit from it.
Keeps track of every change made against his number.
Every customer account is equipped with a predictable table where this CRM tells what could be the customer’s next need or what offer could be attractive
to the customer

FIN630 Assignment # 1 Solution

2010-11-03T12:57:00.001-07:00

“Investment Analysis & Portfolio Management” (Fin 630)
Assignment No.01 Marks: 15
'”"""Dividend Discount Model'''''''''''

Company A is currently selling for Rs. 90 and paying dividend of Rs. 10 per share.
Dividend is expected to grow at rate of 5 percent per year. The required rate of return for
investors is 17% to invest in the stock with the degree of riskness.
Company B is currently selling for Rs. 85 and paying dividend of Rs. 10 per share. For
the next year dividend is Rs. 10.6 per share, which shows growth rate of 6 percent per
year. The required rate of return for investors is 17% to invest in the stock with the
degree of riskness.

A) Calculate the price of stock for Company A and Company B using Dividend Discount Model.
B) If you have to choose one of these two stocks, which stock you will buy?
C) If both companies have decided not to pay cash dividend but they are offering 10% stock dividend. If you are holding 500 shares of Company A and 1,000 shares of
Company B, calculate total number of shares of each Company you will hold after receiving stock dividend.
.................
Dividend Discount Model

Company A is currently selling for Rs. 90 and paying dividend of Rs. 10 per share. Dividend is expected to grow at rate of 5 percent per year. The required rate of return for investors is 17% to invest in the stock with the degree of riskness. Company B is currently selling for Rs. 85 and paying dividend of Rs. 10 per share. For the next year dividend is Rs. 10.6 per share, which shows growth rate of 6 percent per year. The required rate of return for investors is 17% to invest in the stock with the
degree of riskness.

A) Calculate the price of stock for Company A and Company B using Dividend Discount Model.
B) If you have to choose one of these two stocks, which stock you will buy?
C) If both companies have decided not to pay cash dividend but they are offering 10% stock dividend. If you are holding 500 shares of Company A and 1,000 shares of Company B, calculate total number of shares of each Company you will hold after receiving stock dividend.

Part A solution:-
Po for A = D(1+g)/r-g
Po = 10(1+0.05)/0.17 – 0.05
Po = 10(1.05)/0.12
Po = 10.5/0.12
Po = 87.5
Po for B = D(1+g)/r-g
Po = 10(1+0.06)/0.17 – 0.06
Po = 10(1.06)/0.11
Po = 10.6/0.11
Po = 96.36

Solution Part B:-

In part B I will buy the stock of company "B" because its current market price is low than fair price which we have calculated by using dividend discount model. Stock of company "B" also has greater growth rate than stock of Company "A"

Solution of Par C

Company offers 10% stock dividend to all shareholders. Means that if you own 100 shares than company will give you 10 more shares free of cost. Number of shares increases but Total Value of Firm is unchanged.

Company A = 500 Share x 10%
Company A = 500 Share x 0.10
Company A = 50
Total Number of Shares = 500+50
Total Number of Share = 550 shares
Company B = 1000 Share x 10%
Company B = 1000 Share x 0.10
Company B = 100
Total Number of Shares = 1000+100
Total Number of Shares = 1100 shares