...P1 – Explain how knowledge or personal strengths and weaknesses can be applied to prepared for and contributing to a business What is an entrepreneur? An entrepreneur is a person who sets up a business or businesses, taking on financial risks to make profit. Qualities The qualities that are useful to a successful entrepreneur are you need to be confident and willing to take risks. Skills – Ability to carry out certain tasks after training Knowledge- Information that has been learned Ability- Natural talent, for example some people it easy to relate with people and sell products. Aptitude- The potential a person has to develop skills and acquire information. Benefits and drawbacks of starting up your business- The strengths of starting up your own business are that you are in control of your business and yourself, and can make your own decisions. Strength is the profit you make is all yours, unless you are working with a partner then it has to be split. Strength is that you can do what you want, cause it your business, and know one else can tell you what to do. The weaknesses of starting up your business are you have to put a lot of time into the business (long hours). Another weakness is there is a lot of paper work therefore again which is time consuming. This leaves you with not enough time to spend with your family or friends. Lastly another weakness is there are lots of rules and laws to follow to make sure you are doing things legally, which sometimes...
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...P1 Explain the international business environment in which a selected organization operates Define international trade International trade refers to the purchasing of goods and services across the international terrains. Furthermore in many countries, this trade subsidizes substantially to the Gross Domestic Product while for the companies involved it contributes a lot to their total revenue and profits. The economic, political, and social importance of this trade is increasing every day. What do you consider to be the importance of international trade to business/individuals/economies? Numerous factors contribute positively to international businesses/trade these consist of industrialization and globalization. International trade is an important part to globalization, and without it, countries will produce limited goods and services that may limit their economies to expand for the greater good, this is because their market will be limited within the borders it will be hard to export goods which may be vital to their countries for example medicine ,coffee and so on. International trade is related to domestic trade only that it has more associated costs and legislation. The costs include tariffs and transportation costs while the legislation barriers they face is being discriminated in order to protect domestic industries. It is costly to hire and use factors of production across borders; thus international trade rarely trades factors of production but trades in goods...
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...Chapter 6: CPU Scheduling • • • Basic Concepts Scheduling Criteria Scheduling Algorithms Operating System Concepts 6.1 Basic Concepts • Maximum CPU utilization obtained with multiprogramming. • CPU–I/O Burst Cycle – Process execution consists of a cycle of CPU execution and I/O wait. – Example: Alternating Sequence of CPU And I/O Bursts – In an I/O – bound program would have many very short CPU bursts. – In a CPU – bound program would have a few very long CPU bursts. Operating System Concepts 6.2 1 CPU Scheduler • The CPU scheduler (short-term scheduler) selects from among the processes in memory that are ready to execute, and allocates the CPU to one of them. • A ready queue may be implemented as a FIFO queue, priority queue, a tree, or an unordered linked list. • CPU scheduling decisions may take place when a process: 1. Switches from running to waiting state (ex., I/O request). 2. Switches from running to ready state (ex., Interrupts occur). 3. Switches from waiting to ready state (ex., Completion of I/O). 4. Terminates. • Scheduling under 1 and 4 is nonpreemptive; otherwise is called preemptive. • Under nonpreemptive scheduling, once the CPU has been allocated to a process, the process keeps the CPU until it releases the CPU either by terminating or by switching to the waiting state. Operating System Concepts 6.3 Dispatcher • Dispatcher module gives control of the CPU to the process selected by the short-term scheduler;...
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...computer It estimates that it will take competitors at least two yeas to produce equivalent products. The demand function for the computer has been estimated to be P = 2,500 - .0005Q The marginal (and average variable) cost of producing the computer is $900. a. Compute the profit-maximizing price and output levels assuming Pear acts as a monopolist for its product. Answer: The monopolist would equate marginal revenue (MR) with marginal cost (MC) Total revenue (TR) = P*Q = 2500Q-Q^2 MR = dTR/dQ = 2500-2Q We have MC = 900 So MR= MC implies 2500-2Q= 900, implies monopoly output Q* = 800 (in units of 100) And monopoly price P = 2500-0.0005*800 = 2499.6 b. Determine the total contribution to profits and fixed costs from the solution generated in part (a). Answer: Total profit = P*Q-MC*Q = 800*2499.6 900*800 = $ 1279680 (in units of 100) Pear Computer is considering an alternative pricing strategy of sliding down the demand curve. It plans to set the following schedule of prices over the coming two ------------------------------------------------- years. Branding Iron Products, a specialty steel fabricator, operates a plant in the town of West Star, Texas. The town has grown rapidly because of recent discoveries of oil and gas in the area town. Many of the new residents have expressed concerns at the amount of pollution (primarily particulate matter in the air and waste water in the town's rivers) emitted by Branding Iron. Three proposals...
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...indifference curve and the budget line; (ii) a kink in an indifference curve; (iii) a “corner” where the consumer specializes in consuming just one good. Here is how you find a point of tangency if we are told the consumer’s utility function, the prices of both goods, and the consumer’s income. The budget line and an indifference curve are tangent at a point (x1 , x2 ) if they have the same slope at that point. Now the slope of an indifference curve at (x1 , x2 ) is the ratio −M U1 (x1 , x2 )/M U2 (x1 , x2 ). (This slope is also known as the marginal rate of substitution.) The slope of the budget line is −p1 /p2 . Therefore an indifference curve is tangent to the budget line at the point (x1 , x2 ) when M U1 (x1 , x2 )/M U2 (x1 , x2 ) = p1 /p2 . This gives us one equation in the two unknowns, x1 and x2 . If we hope to solve for the x’s, we need another equation. That other equation is the budget equation p1 x1 + p2 x2 = m. With these two equations you can solve for (x1 , x2 ).∗ Example: A consumer has the utility...
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...CPU SCHEDULINGCPU scheduling in UNIX is designed to benefit interactive processes. Processes are given small CPU time slices by a priority algorithm that reduces to round-robin scheduling for CPU-bound jobs.The scheduler on UNIX system belongs to the general class of operating system schedulers known as round robin with multilevel feedback which means that the kernel allocates the CPU time to a process for small time slice, preempts a process that exceeds its time slice and feed it back into one of several priority queues. A process may need much iteration through the "feedback loop" before it finishes. When kernel does a context switch and restores the context of a process. The process resumes execution from the point where it had been suspended.Each process table entry contains a priority field. There is a process table for each process which contains a priority field for process scheduling. The priority of a process is lower if they have recently used the CPU and vice versa.The more CPU time a process accumulates, the lower (more positive) its priority becomes, and vice versa, so there is negative feedback in CPU scheduling and it is difficult for a single process to take all the CPU time. Process aging is employed to prevent starvation.Older UNIX systems used a 1-second quantum for the round- robin scheduling. 4.33SD reschedules processes every 0.1 second and recomputed priorities every second. The round-robin scheduling is accomplished by the -time-out mechanism, which tells...
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...HYDRAULICS LAB #1 The objective of this lab is to test the fluid flow provided by the power unit at various discharge pressures, and create a power unit characteristic curve. 1. Build on the trainer the hydraulic circuit shown in the figure below, using the components listed here. hydraulic power unit (2) pressure gauges flow control valve (FCV) – simulated load flow-meter Page 1 of 2 2. Initial setup: a. Fully close (CW) the FCV, and fully open (CCW) the pressure relief valve on the power unit. b. Start the power unit, and slowly adjust the pressure relief valve until pressure gauge P1 reaches 50 bar. Let the unit run for a few minutes then check and adjust P1 if necessary. c. Do not touch the pressure relief valve for the remainder of the lab. d. Fully open the FCV. 3. Test: a. Record the pressures P1, P2 and the flow rate under the “Min.” column in the table below. b. Slowly turn the FCV CW, adding a simulated load to the system. When the pressure at P1 increases to 15 bar, stop and record pressure P2 and the flow rate. c. Repeat for all columns listed in the table. The final column, listed as “Max Pres.” should be run with the FCV fully closed. Note the sound of the power unit during this test. You should detect changes in tone as the load (pressure) is increased. P1 Pressure (bar) P2 (bar) Flow Rate (lpm) Min * 15 20 25 30 35 40 45 46 47 48 49 Max. Pres. * minimum pressure attained, with flow control fully open HYDRAULICS LAB #1 Page 2 of 2 Lab Report: ...
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...Market I. Economic model: A simplified representation of reality A. An example – Rental apartment market in Shinchon: Object of our analysis – Price of apt. in Shinchon: Endogenous variable – Price of apt. in other areas: Exogenous variable – Simplification: All (nearby) Apts are identical B. We ask – How the quantity and price are determined in a given allocation mechanism – How to compare the allocations resulting from different allocation mechanisms II. Two principles of economics – Optimization principle: Each economic agent maximizes its objective (e.g. utility, profit, etc.) – Equilibrium principle: Economic agents’ actions must be consistent with each other III. Competitive market A. Demand – Tow consumers with a single-unit demand whose WTP’s are equal to r1 and r2 (r1 < r2 ) p r2 r1 1 2 – Many people 4 Q p p Q Q ∞ consumers 4 consumers B. Supply – Many competitive suppliers ¯ – Fixed at Q in the short-run C. Equilibrium – Demand must equal supply p p∗ p ¯ Q Q Q ¯ → Eq. price (p∗ ) and eq. quantity (Q) D. Comparative statics: Concerns how endogenous variables change as exogenous...
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... Quantity Conversely, a change in quantity demanded occurs as a response by consumers to a change in a commodity price. It is referred to as a movement along a demand curve (Frank, Ben and Louis 76). In the graph below, the initial price is P0 and the corresponding quantity demanded is Q0, however, when the price changes to P1, quantity demanded also changes to Q1. This represents a change in quantity demanded from Q0 to Q1. P D0 P1 B P0 A D0 Q1 Q0 Quantity A change in quantity supplied is caused by a change in the price of the commodity itself. It is referred to as a movement along a supply curve. Initially the price of a commodity is P1 but a fall in price to P2 leads to a fall in the amount of quantity demanded from Q1 to Q2. This represents a change in quantity supplied. P P1 A P2 B...
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...Substitution Effects — A Summary What are Income and Substitution Effects? When the price of q1, p1, changes there are two effects on the consumer. First, the price of q1 relative to the other products (q2, q3, . . . qn) has changed. Second, due to the change in p1, the consumer's real income changes. When we compute the change in the optimal consumption as a result of the price change, we do not usually separate these two effects. Sometimes we might want to separate the effects. The Substitution Effect is the effect due only to the relative price change, controlling for the change in real income. In order to compute it we ask what is the bundle that would make the consumer just as happy as before the price change, but if they had to make their choice faced with the new prices. To find this point we consider a budget line characterized by the new prices but with a level of income such that it is tangent to the initial indifference curve. In the diagram on the next page, the initial consumer equilibrium is at point A where the initial budget line is tangent to the higher indifference curve. Consumption at this point is 11 units of good 1 and 8 units of good 2. After an increase in the price of good 1, the consumer moves to point E, where the new budget line is tangent to the lower indifference curve. Consumption of good 1 has fallen to 4 units while consumption of good 2 has increased to 10 units. The substitution effect is the movement from point A to point G. This point is characterized...
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...Chapter 5: CPU Scheduling Operating System Concepts – 8th Edition Silberschatz, Galvin and Gagne ©2009 Chapter 5: CPU Scheduling Basic Concepts Scheduling Criteria Scheduling Algorithms Thread Scheduling Multiple-Processor Scheduling Operating Systems Examples Algorithm Evaluation Operating System Concepts – 8th Edition 5.2 Silberschatz, Galvin and Gagne ©2009 Objectives To introduce CPU scheduling, which is the basis for multiprogrammed operating systems To describe various CPU-scheduling algorithms To discuss evaluation criteria for selecting a CPU-scheduling algorithm for a particular system Operating System Concepts – 8th Edition 5.3 Silberschatz, Galvin and Gagne ©2009 Basic Concepts Maximum CPU utilization obtained with multiprogramming CPU–I/O Burst Cycle – Process execution consists of a cycle of CPU execution and I/O wait CPU burst distribution Operating System Concepts – 8th Edition 5.4 Silberschatz, Galvin and Gagne ©2009 Alternating Sequence of CPU and I/O Bursts Operating System Concepts – 8th Edition 5.5 Silberschatz, Galvin and Gagne ©2009 Histogram of CPU-burst Times Operating System Concepts – 8th Edition 5.6 Silberschatz, Galvin and Gagne ©2009 CPU Scheduler Selects from among the processes in ready queue, and allocates the CPU to one of them Queue may be ordered in various ways Switches from running to waiting state Switches from running...
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...volume, V= cf/ (p- cv) V= 55000/ (21- 8) V= 4230.77 recap tires, 2. monthly break even volume V= cf/ (p- cv) We have Cf= 30000, cv= 0.16, p= 0.40 V= 30000/ (0.4- 0.16) V= 125000 units 3. If the new price is p= 0.60, Then the break even volume will decrease. We don’t need to sell as much units as before to break even. Proof: V= 30000/ (0.6- 0.16) V= 68181.81 units 4. If we increase advertising, that means CF increases, then the Break even volume will increase, because the cost of the production increased. Proof; V= 30000+ 14000/ (0.6- 0.16) V= 100000 units 5.we have Cf= 5600, cv= 0.35, p= ?; v= 2000 (note: Cf= 2500+3100; Cf= $5600) a.What price should be charged to break even? Break even means Profit = 0, then TR=TC Meaning V*P= cf+ V*cv, then P= (cf+ V*cv)/ V P= (5600+ 2000*0.35)/ 2000 P= $3.15 b. If during the season, there are less guest than expected, to break even, she needs to increase the prices. 6. we have Cf= 360000, cv= 12000, p= 17000; a. determine V , V= cf/ (p- cv) , V= 360000/ (17000- 12000) V= 72 units. b. if we have V= 75, Profit = ? , Profit= V*P- ( cf+ V*cv), Profit= 75*17000- ( 360000+ 75*12000) Profit = 1275000-1260000 Profit = $ 15000 c. If the tuition increase, to p= 22000; the volume become v= 35, should the college consider doing this? let's check the...
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...|Assignment brief – QCF BTEC | |Assignment front sheet | |Qualification |Unit number and title | |BTEC Level 3 Extended Diploma In Business |Unit 16: Human Resource Management in Business | |Learner name | Assessor name | | | C Graham, F Mooney, J Robinson, E Smith | |Date issued | Hand in deadline |Submitted on | |1 W/E 26/01/2015 |W/E 27/02/15 | | |2 W/E 26/01/2015 |W/E 27/03/15 | | |3 W/E 26/01/2015 |W/E 17/04/15 | | |4 W/E 26/01/2015 |W/E 15/05/15...
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...20092446 | Problem Al Kobaisi Group is a ready mix company which has three plants in various locations among Kingdom of Bahrain. They signed a contract with Al-Moayed contracting to supply them with concrete mix for three different projects located at three different areas. The following tables show the amount of concrete mix each plant can provide and required quantities for each project: Al Kobaisi Group Plants | Supply | P1 | 200 m3/day | P2 | 450 m3/day | P3 | 325 m3/day | Project Name | Demand | M1 | 100 m3/day | M2 | 375 m3/day | M3 | 500 m3/day | Al Kobaisi Group will rent the trucks from a transportation company to transfer the concrete mix from the plants to the sites. Sales manager of Al Kobaisi Group wants to know the optimum way of assignment of trucks in which the cost will be minimum. Use the below table in order to help the manager in taking the decision using one of the L.P models. P/M | M1 | M2 | M3 | Supply | P1 | 20 | 5 | 13 | 200 | P2 | 9 | 18 | 7 | 450 | P3 | 11 | 16 | 23 | 325 | Demand | 100 | 375 | 500 | | In order to solve the above mentioned problem we are going to use transportation model. However, before starting the solution a brief description of the model will be illustrated as follow: Transportation Problem Many practical problems in operations research can be broadly formulated as linear programming problems, for which the simplex this is a general method and...
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...EFFECTS REQUIRED READING: PARKIN CH 9 Lecture Plan 1. INCOME EXPANSION PATHS ( Inferior & Superior Goods ( Engle Law 2. Price-Consumption Paths ( Changing Relative Prices ( Deriving the Price-Consumption Path ( Deriving Individual Demand Curves 3. Income & Substitution Effects Income Expansion Paths 1 Introduction In Figure, we see an individual consuming two goods X1 and X2 with P1=$1, P2=$1 and total income is $20. We also see that his/her tastes are described by three indifference curves marked I1, I2 and I3. Since he/she can at most spend $20, his/her budget constraint can be described by the budget line BB’. Suppose now that his/her income level increases from $20 to $40. How could we derive the new budget line? Note that prices of X1 and X2 are still $1. If you spend all amount of this $40 to X1, he can now buy 40 units of this good (depicted by Point C’ in Figure 2.2). Likewise, allocating all $40 to X2 allows him/her to buy 40 units of X2 (depicted by Point C). If an individual’s income level increases but relative prices don’t change, the budget line will shift outward and the gradient of the budget line unchanges. With this new budget line CC’ or new budget constraint (income ( to $40), the individual will choose the bundle at which the MRS of X2 for good X1 is equal to the gradient of CC’. Using the above analysis, when the income level increases to $60, the...
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