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Flashcard 1432547101964

Tags
#citychef #complete-guide-of-food-delivery-service
Question
Smaller players such as [...], PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas.
Answer
Marley Spoon

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yers and offer subscription boxes that include recipes and ingredients for three dinners per week for at least two people. Costs range from $10 – $15 per dinner, and the services offer varying degrees of customization. Smaller players such as <span>Marley Spoon, PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas.<span><body><html>

Original toplevel document

The (almost) complete guide to food delivery services major-players
s with nutritional info and calorie counts. “No one product will own the entire market,” says Garg. “A lot of these companies are complementary with one another.” Here’s a rundown of the market and its major players: <span>Recipe and ingredient dinner kits : Blue Apron, Hello Fresh and Plated are the most established players and offer subscription boxes that include recipes and ingredients for three dinners per week for at least two people. Costs range from $10 – $15 per dinner, and the services offer varying degrees of customization. Smaller players such as Marley Spoon, PeachDish, Home Chef, Gobble offer a spin on the same model and may have more limited delivery areas. Restaurant takeout. Seamless and GrubHub, which merged in 2013, are essentially mobile platforms that connect consumers with local restaurants for takeout delivery. Restau







Flashcard 1438085156108

Tags
#italian #italian-grammar
Question
[...] One which refers to a concept or quality rather than a person or object. Examples are: la felicità ‘happiness’; la miseria ‘poverty’.
Answer
Abstract noun

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Abstract noun One which refers to a concept or quality rather than a person or object. Examples are: la felicità ‘happiness’; la miseria ‘poverty’.

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Flashcard 1438089088268

Tags
#italian #italian-grammar
Question
Intransitive verbs are verbs that cannot be used with a [...].
Answer
direct object

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Intransitive verbs are verbs that cannot be used with a direct object. Some intransitive verbs can be used with an indirect object: ho telefonato a Maria Teresa ‘I telephoned to Maria Teresa’. Some can only be used without any object: siamo arrivati alla

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Flashcard 1439671913740

Tags
#cfa-level-1 #corporate-finance #reading-36-cost-of-capital #study-session-11
Question
A company grows by making [...] that are expected to increase [...]
Answer
investments

revenues and profits

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A company grows by making investments that are expected to increase revenues and profits

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1. INTRODUCTION
A company grows by making investments that are expected to increase revenues and profits. The company acquires the capital or funds necessary to make such investments by borrowing or using funds from owners. By applying this capital to investments with long-term benefits, t







Flashcard 1442891042060

Tags
#2-2-comparison-of-profit-measures #cfa #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-2-objectives-of-the-firm #study-session-4
Question
the market value of equity and shareholders’ wealth deteriorates whenever risk to achieving normal profit materializes and the firm fails to reward investors for [...] and for the [...]
Answer
their risk exposure

opportunity cost of their equity capital.

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the market value of equity and shareholders’ wealth deteriorates whenever risk to achieving normal profit materializes and the firm fails to reward investors for their risk exposure and for the opportunity cost of their equity capital.

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2. OBJECTIVES OF THE FIRM
quence, the spot price has dramatically increased by 44.3 percent. Economic rent has resulted from this market relationship of a relatively fixed supply of gold and a rising demand for it. <span>2.2. Comparison of Profit Measures All three types of profit are interconnected because, according to Equation 4, accounting profit is the summation of normal and economic profit. In the short run, the normal profit rate is relatively stable, which makes accounting and economic profit the two variable terms in the profit equation. Over the longer term, all three types of profit are variable, where the normal profit rate can change according to investment returns across firms in the industry. Normal profit is necessary to stay in business in the long run; positive economic profit is not. A business can survive indefinitely by just making the normal profit return for investors. Failing to earn normal profits over the long run has a debilitating impact on the firm’s ability to access capital and to function properly as a business enterprise. Consequentially, the market value of equity and shareholders’ wealth deteriorates whenever risk to achieving normal profit materializes and the firm fails to reward investors for their risk exposure and for the opportunity cost of their equity capital. To summarize, the ultimate goal of analyzing the different types of profit is to determine how their relationships to one another influence the firm’s market value of equity. Exhibit 2 compares accounting, normal, and economic profits in terms of how a firm’s market value of equity is impacted by the relationships among the three types of profit. Exhibit 2. Relationship of Accounting, Normal, and Economic Profit to Equity Value Relationship between Accounting Profit and Normal Profit Economic Profit Firm’s Market Value of Equity Accounting profit > Normal profit Economic profit > 0 and firm is able to protect economic profit over the long run Positive effect Accounting profit = Normal profit Economic profit = 0 No effect Accounting profit < Normal profit Economic profit < 0 implies economic loss Negative effect <span><body><html>







Flashcard 1442919615756

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question

Del inventario de formantes reconocidos, reconoceremos dos clases:

a. Los formantes léxicos pertenecen a una [...] de palabras:

Answer
clase particular

sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta).

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y>Del inventario de formantes reconocidos, reconoceremos dos clases: a. Los formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras

Original toplevel document

La estructura interna de la palabra
1. Los formantes morfológicos Una palabra tiene estructura interna cuando contiene más de un formante morfológico. Un formante morfológico o morfema es una unidad mínima que consta de una forma fonética y de un significado. Comparemos las siguientes palabras: gota, gotas, gotita, gotera, cuentagotas. Gota es la única de estas palabras que consta de un solo formante. Carece, entonces, de estructura interna. Es una palabra simple. Todas las otras palabras tienen estructura interna. [31] Los formantes que pueden aparecer como palabras independientes son formas libres. Los otros, los que necesariamente van adosados a otros morfe- mas, son formas ligadas. Cuentagotas contiene dos formantes que pueden aparecer cada uno como palabra independiente. Es una palabra compuesta. Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos (-s, -ita, -era) nunca puede ser una palabra independiente. Son formas ligadas que se denominan afijos. Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas. Del inventario de formantes reconocidos, reconoceremos dos clases: a. Algunos son formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras complejas (got-, politic-); - parte de una palabra, compuesta (cuenta, gotas). b. Otros son formantes gramaticales: tienen significado gramatical, no léxico. Se agrupan en clases cerradas. Pueden ser: - palabras independientes: preposiciones (a, de, por), conjunciones (que, si); - afijos en palabras derivadas (-s, -ero, in-, des-); - menos frecuentemente, formantes de compuestos (aun-que, por-que, si-no). Entre las palabras no simples consideradas hasta aquí, cada una contenía sólo dos formantes. En otras un mismo tipo de formantes se repite: - sufijos: region-al-izar, util-iza-ble; - prefijos: des-com-poner. ex-pro-soviético, o también formantes de diferentes tipos pueden combinarse entre sí: - prefijo y sufijo: des-leal-tad, em-pobr-ecer; - palabra compuesta y sufijo: rionegr-ino, narcotrafic-ante. En la combinación de prefijación y sufijación, se distinguen dos casos, ilustrados en nuestros ejemplos. En deslealtad, la aplicación de cada uno de los afijos da como resultado una palabra bien formada: si aplicamos sólo el prefijo se obtiene el adjetivo desleal; si aplicamos sólo el sufijo el resultado será el sustantivo lealtad. En cambio, en empobrecer, si se aplica sólo un afijo [32] el resultado no será una palabra existente: *empobre, *pobrecer. Prefijo y sufijo se aplican simultáneamente, constituyendo un único formante morfológico – discontinuo– que se añade a ambos lados de la base léxica. Este segundo caso se denomina parasíntesis. Para establecer la estructura interna de las palabras, la morfología se ocupa de: a. identificar los formantes morfológicos; b. determinar las posibles variaciones que éstos presenten; c. describir los procesos involucrados; d. reconocer la organización de las palabras. 2. Identificación de los formantes morfológicos Comparemos ahora las siguientes palabras: sol, sol-ar; sol-azo, quita- sol, gira-sol, solter-o, solaz. En las







Flashcard 1442921975052

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question

Del inventario de formantes reconocidos, reconoceremos dos clases:

a. Los formantes léxicos pueden ser:
- [...];
- base a la que se adosan los afijos en palabras complejas (got-, politic-);
- parte de una palabra, compuesta (cuenta, gotas).

Answer
palabras simples (gota, útil, ayer)

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un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - <span>palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras complejas (got-, politic-); - parte de una palabra, compuesta (cuenta, gotas). b. Los formantes gramaticales: tienen

Original toplevel document

La estructura interna de la palabra
1. Los formantes morfológicos Una palabra tiene estructura interna cuando contiene más de un formante morfológico. Un formante morfológico o morfema es una unidad mínima que consta de una forma fonética y de un significado. Comparemos las siguientes palabras: gota, gotas, gotita, gotera, cuentagotas. Gota es la única de estas palabras que consta de un solo formante. Carece, entonces, de estructura interna. Es una palabra simple. Todas las otras palabras tienen estructura interna. [31] Los formantes que pueden aparecer como palabras independientes son formas libres. Los otros, los que necesariamente van adosados a otros morfe- mas, son formas ligadas. Cuentagotas contiene dos formantes que pueden aparecer cada uno como palabra independiente. Es una palabra compuesta. Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos (-s, -ita, -era) nunca puede ser una palabra independiente. Son formas ligadas que se denominan afijos. Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas. Del inventario de formantes reconocidos, reconoceremos dos clases: a. Algunos son formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras complejas (got-, politic-); - parte de una palabra, compuesta (cuenta, gotas). b. Otros son formantes gramaticales: tienen significado gramatical, no léxico. Se agrupan en clases cerradas. Pueden ser: - palabras independientes: preposiciones (a, de, por), conjunciones (que, si); - afijos en palabras derivadas (-s, -ero, in-, des-); - menos frecuentemente, formantes de compuestos (aun-que, por-que, si-no). Entre las palabras no simples consideradas hasta aquí, cada una contenía sólo dos formantes. En otras un mismo tipo de formantes se repite: - sufijos: region-al-izar, util-iza-ble; - prefijos: des-com-poner. ex-pro-soviético, o también formantes de diferentes tipos pueden combinarse entre sí: - prefijo y sufijo: des-leal-tad, em-pobr-ecer; - palabra compuesta y sufijo: rionegr-ino, narcotrafic-ante. En la combinación de prefijación y sufijación, se distinguen dos casos, ilustrados en nuestros ejemplos. En deslealtad, la aplicación de cada uno de los afijos da como resultado una palabra bien formada: si aplicamos sólo el prefijo se obtiene el adjetivo desleal; si aplicamos sólo el sufijo el resultado será el sustantivo lealtad. En cambio, en empobrecer, si se aplica sólo un afijo [32] el resultado no será una palabra existente: *empobre, *pobrecer. Prefijo y sufijo se aplican simultáneamente, constituyendo un único formante morfológico – discontinuo– que se añade a ambos lados de la base léxica. Este segundo caso se denomina parasíntesis. Para establecer la estructura interna de las palabras, la morfología se ocupa de: a. identificar los formantes morfológicos; b. determinar las posibles variaciones que éstos presenten; c. describir los procesos involucrados; d. reconocer la organización de las palabras. 2. Identificación de los formantes morfológicos Comparemos ahora las siguientes palabras: sol, sol-ar; sol-azo, quita- sol, gira-sol, solter-o, solaz. En las







Flashcard 1442931412236

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question

Para establecer la estructura interna de las palabras, la morfología se ocupa de:

a. identificar [...]

b. determinar las posibles variaciones que éstos presenten;

c. describir los procesos involucrados;

d. reconocer la organización de las palabras.

Answer
los formantes morfológicos;

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Para establecer la estructura interna de las palabras, la morfología se ocupa de: a . identificar los formantes morfológicos; b . determinar las posibles variaciones que éstos presenten; c . describir los procesos involucrados; d . reconocer la organización de las palabras

Original toplevel document

La estructura interna de la palabra
1. Los formantes morfológicos Una palabra tiene estructura interna cuando contiene más de un formante morfológico. Un formante morfológico o morfema es una unidad mínima que consta de una forma fonética y de un significado. Comparemos las siguientes palabras: gota, gotas, gotita, gotera, cuentagotas. Gota es la única de estas palabras que consta de un solo formante. Carece, entonces, de estructura interna. Es una palabra simple. Todas las otras palabras tienen estructura interna. [31] Los formantes que pueden aparecer como palabras independientes son formas libres. Los otros, los que necesariamente van adosados a otros morfe- mas, son formas ligadas. Cuentagotas contiene dos formantes que pueden aparecer cada uno como palabra independiente. Es una palabra compuesta. Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos (-s, -ita, -era) nunca puede ser una palabra independiente. Son formas ligadas que se denominan afijos. Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas. Del inventario de formantes reconocidos, reconoceremos dos clases: a. Algunos son formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras complejas (got-, politic-); - parte de una palabra, compuesta (cuenta, gotas). b. Otros son formantes gramaticales: tienen significado gramatical, no léxico. Se agrupan en clases cerradas. Pueden ser: - palabras independientes: preposiciones (a, de, por), conjunciones (que, si); - afijos en palabras derivadas (-s, -ero, in-, des-); - menos frecuentemente, formantes de compuestos (aun-que, por-que, si-no). Entre las palabras no simples consideradas hasta aquí, cada una contenía sólo dos formantes. En otras un mismo tipo de formantes se repite: - sufijos: region-al-izar, util-iza-ble; - prefijos: des-com-poner. ex-pro-soviético, o también formantes de diferentes tipos pueden combinarse entre sí: - prefijo y sufijo: des-leal-tad, em-pobr-ecer; - palabra compuesta y sufijo: rionegr-ino, narcotrafic-ante. En la combinación de prefijación y sufijación, se distinguen dos casos, ilustrados en nuestros ejemplos. En deslealtad, la aplicación de cada uno de los afijos da como resultado una palabra bien formada: si aplicamos sólo el prefijo se obtiene el adjetivo desleal; si aplicamos sólo el sufijo el resultado será el sustantivo lealtad. En cambio, en empobrecer, si se aplica sólo un afijo [32] el resultado no será una palabra existente: *empobre, *pobrecer. Prefijo y sufijo se aplican simultáneamente, constituyendo un único formante morfológico – discontinuo– que se añade a ambos lados de la base léxica. Este segundo caso se denomina parasíntesis. Para establecer la estructura interna de las palabras, la morfología se ocupa de: a. identificar los formantes morfológicos; b. determinar las posibles variaciones que éstos presenten; c. describir los procesos involucrados; d. reconocer la organización de las palabras. 2. Identificación de los formantes morfológicos Comparemos ahora las siguientes palabras: sol, sol-ar; sol-azo, quita- sol, gira-sol, solter-o, solaz. En las







Flashcard 1443032337676

Tags
#cfa-level-1 #fra-introduction #study-session-7
Question

The readings in study session 7 describe the general [...], underscoring the critical role of the analysis of [...] in investment decision making.

Answer
principles of financial reporting

financial reports

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An Introduction
The readings in this study session describe the general principles of financial reporting, underscoring the critical role of the analysis of financial reports in investment decision making. The first reading introduces the range of information that is available







#av #elektryka #g1
PRĄD ELEKTRYCZNY jest to ruch elektronów swobodnych w danym przewodniku.
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#av #elektryka #g1
Ilość elektronów swobodnych przepływających w jednostce czasu (s) nazywamy: NATĘŻENIEM PRĄDU ELEKTRYCZNEGO (I)
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#av #elektryka #g1
Jednostką podstawową natężenia prądu jest 1 amper (A)
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#av #elektryka #g1
Prąd ma natężenie 1 ampera jeżeli w ciągu 1 sekundy przepływa ładunek 1 kulomba (C)
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#av #elektryka #g1
Natężenie prądu mierzy się amperomierzem, włączanym szeregowo w obwodzie elektrycznym.
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#av #elektryka #g1
Materiały elektryczne pod względem przewodnictwa dzielą się na:
• przewodniki - dobrze przewodzą prąd elektryczny,
• półprzewodniki – dobrze przewodzą prąd elektryczny tylko w jednym kierunku, w kierunku przeciwnym posiadają tzw. „kierunek zaporowy” (dot. prądu przemiennego),
• izolatory (dielektryki) – nie przewodzą prądu elektrycznego
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#av #elektryka #g1
OPÓR ELEKTRYCZNY (rezystancja) – jest to przeszkoda jaką stawia przepływającemu prądowi dany element obwodu elektrycznego.
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Flashcard 1444415933708

Tags
#pao
Question
02
Answer
El Canelo

Shadow boxing

Boxing gloves

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Flashcard 1444423798028

Tags
#pao
Question
04
Answer
Ninel Conde

Malabareando

Tacones

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Flashcard 1444425633036

Tags
#pao
Question
05
Answer
Michael Jackson

Moonwalking

With white glove

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Flashcard 1444432973068

Tags
#pao
Question
07
Answer
Ronaldinho

Kicking

Soccer ball

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Flashcard 1444434808076

Tags
#pao
Question
08
Answer
Uncle Phil

Pool shooting

8 ball

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Flashcard 1444439002380

Tags
#av #elektryka #g1
Question
Natężenie prądu mierzy się [...], włączanym szeregowo w obwodzie elektrycznym.
Answer
amperomierzem

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Natężenie prądu mierzy się amperomierzem, włączanym szeregowo w obwodzie elektrycznym.

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Flashcard 1444440575244

Tags
#av #elektryka #g1
Question
Natężenie prądu mierzy się amperomierzem, włączanym [...] w obwodzie elektrycznym.
Answer
szeregowo

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Natężenie prądu mierzy się amperomierzem, włączanym szeregowo w obwodzie elektrycznym.

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Flashcard 1444444769548

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#av #elektryka #g1
Question
OPÓR ELEKTRYCZNY (rezystancja) – jest to przeszkoda jaką stawia przepływającemu prądowi dany element [...].
Answer
obwodu elektrycznego

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OPÓR ELEKTRYCZNY (rezystancja) – jest to przeszkoda jaką stawia przepływającemu prądowi dany element obwodu elektrycznego.

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Flashcard 1444455517452

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#15-rely-on-emotional-states #rules-of-formulating-knowledge
Question
Use objects that evoke very [...]
Answer
specific and strong emotions:

love, sex, war, your late relative, object of your infatuation, Linda Tripp, Nelson Mandela, etc. It is well known that emotional states can facilitate recall;

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Use objects that evoke very specific and strong emotions: love, sex, war, your late relative, object of your infatuation, Linda Tripp, Nelson Mandela, etc. It is well known that emotional states can facilitate recall;</htm

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15. Rely on emotional states
are likely to enhance retrieval (as long as you do not overuse same tools and fall victim of interference!). Your items may assume bizarre form; however, as long as they are produced for your private consumption, the end justifies the means. <span>Use objects that evoke very specific and strong emotions: love, sex, war, your late relative, object of your infatuation, Linda Tripp, Nelson Mandela, etc. It is well known that emotional states can facilitate recall; however, you should make sure that you are not deprived of the said emotional clues at the moment when you need to retrieve a given memory in a real-life situation &







#av #elektryka #g1
prąd stały – to taki prąd, który jest stały co do wartości i co do kierunku w danej jednostce czasu,
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#av #elektryka #g1
prąd przemienny (jedno i wielofazowy) –to taki, który jest zmienny co do wartości i co do kierunku w danej jednostce czasu,
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prąd tętniący (pulsujący) – to taki prąd, który jest zmienny co do wartości, lecz stały co do kierunku w danej jednostce czasu (prostowanie jedno i dwupołówkowe)
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Flashcard 1444543073548

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to [...] or [...] and at what price.
Answer
invest in the company’s debt

equity securities

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Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to invest in the company’s debt or equity securities and at what price.

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1. INTRODUCTION
Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation. Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to invest in the company’s debt or equity securities and at what price. An investor in debt securities is concerned about the company’s ability to pay interest and to repay the principal lent. An investor in equity securities is an owner with a residual int







Flashcard 1444545432844

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
The role of financial statement analysis is to use financial reports prepared by companies, combined with other information, to evaluate the [...], [...] , and [...] and financial position of a company for the purpose of making investment, credit, and other economic decisions.
Answer
past

current

potential performance

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The role of financial statement analysis is to use financial reports prepared by companies, combined with other information, to evaluate the past, current, and potential performance and financial position of a company for the purpose of making investment, credit, and other economic decisions.

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2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
The role of financial reporting by companies is to provide information about a company’s performance, financial position, and changes in financial position that is useful to a wide range of users in making economic decisions.1 The role of financial statement analysis is to use financial reports prepared by companies, combined with other information, to evaluate the past, current, and potential performance and financial position of a company for the purpose of making investment, credit, and other economic decisions. (Managers within a company perform financial analysis to make operating, investing, and financing decisions but do not necessarily rely on analysis of related financial statements. They have access to additional financial information that can be reported in whatever format is most useful to their decision.) In evaluating financial reports, analysts typically have a specific economic decision in mind. Examples of these decisions include the following: Evalu







Flashcard 1444547792140

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
Managers within a company perform financial analysis to make operating, investing, and financing decisions but do not necessarily rely on [...].
Answer
analysis of related financial statements.

They have access to additional financial information that can be reported in whatever format is most useful to their decision.

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Managers within a company perform financial analysis to make operating, investing, and financing decisions but do not necessarily rely on analysis of related financial statements.

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2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
The role of financial reporting by companies is to provide information about a company’s performance, financial position, and changes in financial position that is useful to a wide range of users in making economic decisions.1 The role of financial statement analysis is to use financial reports prepared by companies, combined with other information, to evaluate the past, current, and potential performance and financial position of a company for the purpose of making investment, credit, and other economic decisions. (Managers within a company perform financial analysis to make operating, investing, and financing decisions but do not necessarily rely on analysis of related financial statements. They have access to additional financial information that can be reported in whatever format is most useful to their decision.) In evaluating financial reports, analysts typically have a specific economic decision in mind. Examples of these decisions include the following: Evalu







Flashcard 1444551200012

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
In general, analysts seek to examine the past and current performance and financial position of a company in order to [...].
Answer
form expectations about its future

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In general, analysts seek to examine the past and current performance and financial position of a company in order to form expectations about its future performance and financial position.

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2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
d issue. Valuing a security for making an investment recommendation to others. Forecasting future net income and cash flow. These decisions demonstrate certain themes in financial analysis. <span>In general, analysts seek to examine the past and current performance and financial position of a company in order to form expectations about its future performance and financial position. Analysts are also concerned about factors that affect risks to a company’s future performance and financial position. An examination of performance can include an assessment of a compan







Flashcard 1444552772876

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
Performance in company includes profitability and its ability to [...]
Answer
generate positive cash flows

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An examination of performance can include an assessment of a company’s profitability (the ability to earn a profit from delivering goods and services) and its ability to generate positive cash flows (cash receipts in excess of cash disbursements)

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2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
mance and financial position of a company in order to form expectations about its future performance and financial position. Analysts are also concerned about factors that affect risks to a company’s future performance and financial position. <span>An examination of performance can include an assessment of a company’s profitability (the ability to earn a profit from delivering goods and services) and its ability to generate positive cash flows (cash receipts in excess of cash disbursements). Profit and cash flow are not equivalent. Profit (or loss) represents the difference between the prices at which goods or services are provided to customers and the expenses incurred to







Flashcard 1444554345740

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question
Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos ([...]) nunca puede ser una palabra independiente.
Answer
-s, -ita, -era

Son formas ligadas que se denominan afijos.

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Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos (-s, -ita, -era) nunca puede ser una palabra independiente. Son formas ligadas que se denominan afijos.

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La estructura interna de la palabra
1. Los formantes morfológicos Una palabra tiene estructura interna cuando contiene más de un formante morfológico. Un formante morfológico o morfema es una unidad mínima que consta de una forma fonética y de un significado. Comparemos las siguientes palabras: gota, gotas, gotita, gotera, cuentagotas. Gota es la única de estas palabras que consta de un solo formante. Carece, entonces, de estructura interna. Es una palabra simple. Todas las otras palabras tienen estructura interna. [31] Los formantes que pueden aparecer como palabras independientes son formas libres. Los otros, los que necesariamente van adosados a otros morfe- mas, son formas ligadas. Cuentagotas contiene dos formantes que pueden aparecer cada uno como palabra independiente. Es una palabra compuesta. Gotas, gotita y gotera también contienen dos formantes, pero uno de ellos (-s, -ita, -era) nunca puede ser una palabra independiente. Son formas ligadas que se denominan afijos. Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas. Del inventario de formantes reconocidos, reconoceremos dos clases: a. Algunos son formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras complejas (got-, politic-); - parte de una palabra, compuesta (cuenta, gotas). b. Otros son formantes gramaticales: tienen significado gramatical, no léxico. Se agrupan en clases cerradas. Pueden ser: - palabras independientes: preposiciones (a, de, por), conjunciones (que, si); - afijos en palabras derivadas (-s, -ero, in-, des-); - menos frecuentemente, formantes de compuestos (aun-que, por-que, si-no). Entre las palabras no simples consideradas hasta aquí, cada una contenía sólo dos formantes. En otras un mismo tipo de formantes se repite: - sufijos: region-al-izar, util-iza-ble; - prefijos: des-com-poner. ex-pro-soviético, o también formantes de diferentes tipos pueden combinarse entre sí: - prefijo y sufijo: des-leal-tad, em-pobr-ecer; - palabra compuesta y sufijo: rionegr-ino, narcotrafic-ante. En la combinación de prefijación y sufijación, se distinguen dos casos, ilustrados en nuestros ejemplos. En deslealtad, la aplicación de cada uno de los afijos da como resultado una palabra bien formada: si aplicamos sólo el prefijo se obtiene el adjetivo desleal; si aplicamos sólo el sufijo el resultado será el sustantivo lealtad. En cambio, en empobrecer, si se aplica sólo un afijo [32] el resultado no será una palabra existente: *empobre, *pobrecer. Prefijo y sufijo se aplican simultáneamente, constituyendo un único formante morfológico – discontinuo– que se añade a ambos lados de la base léxica. Este segundo caso se denomina parasíntesis. Para establecer la estructura interna de las palabras, la morfología se ocupa de: a. identificar los formantes morfológicos; b. determinar las posibles variaciones que éstos presenten; c. describir los procesos involucrados; d. reconocer la organización de las palabras. 2. Identificación de los formantes morfológicos Comparemos ahora las siguientes palabras: sol, sol-ar; sol-azo, quita- sol, gira-sol, solter-o, solaz. En las







#_av #b21 #elektryka #g1 #m_michalski #seo
Maszyna elektryczna jest urządzeniem do elektromechanicznego przetwarzania energii z udziałem strumienia ładunku elektrycznego (prądu elektrycznego) i strumienia masy – „ruchu elektrycznego” i ruchu mechanicznego. Proces przemiany energii może zachodzić w dwóch kierunkach: maszyna elektryczna może pracować jako prądnica (generator) lub jako silnik.
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#_av #b21 #elektryka #g1 #m_michalski #seo
Transformator jest urządzeniem do elektromagnetycznego przetwarzania energii elektrycznej o jednym napiciu na energię o innym napiciu, bez udziału energii mechanicznej (ruchu mechanicznego). Proces przemiany energii w transformatorze może zachodzić w dwóch kierunkach. Podstawą działania i budowy maszyn elektrycznych i transformatorów są dwa odkrycia: efektu magnetycznego prądu (Hans Oersted odkrył 21 kwietnia 1820 r.) i zjawiska indukcji elektromagnetycznej (Micha Faraday odkrył 29 sierpnia 1831 r.).
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#_av #b21 #elektryka #g1 #m_michalski #seo
Maszyna elektryczna jest przetwornikiem do elektromechanicznego przetwarzania (konwersji) energii z udziałem strumienia ładunku elektrycznego (prądu elektrycznego) – „ruchu elektrycznego” i strumienia masy – ruchu mechanicznego. Proces przemiany energii w maszynach elektrycznych może zachodzić w dwóch kierunkach: • przetwarzania energii elektrycznej (EE) na mechaniczną w silnikach (motorach, rys.1a); • przetwarzania energii mechanicznej (EM) na elektryczną w prądnicach (generatorach, rys.1b). Może też zachodzić przypadek, kiedy energia elektryczna i energia mechaniczna są przetwarzane na trzecią postać, np. w energię cieplną w procesie elektrycznego hamowania maszyny. Możliwe jest przetwarzanie energii elektrycznej na energię elektryczną o innych parametrach (na ogół o innej częstotliwości) w przetwornicach elektromaszynowych – wirujących. Współcześnie zostały one zastąpione przez przetwornice energoelektroniczne – statyczne.
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#_av #b21 #elektryka #g1 #m_michalski #seo
W każdej maszynie elektrycznej i transformatorze kierunek przepływu energii może by zmienny: np. każda prądnica może pracować jak silnik, każdy silnik może pracować jak prądnica, każdy transformator może przetwarza energię o wyższym napięciu na energię o niższym napiciu i na odwrót.
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#_av #b21 #elektryka #g1 #m_michalski #seo
Każdy proces przetwarzania energii charakteryzuje się powstawaniem strat: oprócz zamierzonych postaci energii podczas przetwarzania, towarzyszą jej jeszcze inne. Na przykład: przetwarzanie elektromechaniczne, które zazwyczaj występuje z przemianą elektryczno-cieplną (ciepło Joule’a w obwodach elektrycznych) oraz mechaniczno-cieplną (tarcie mechaniczne części maszyny). Im bardziej udział innych postaci energii w przetwarzaniu elektromechanicznym wzrasta, tym sprawność tej przemiany maleje.
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#_av #b21 #elektryka #g1 #m_michalski #seo
Prąd elektryczny jest to uporządkowany, skierowany ruch ładunków elektrycznych
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#_av #b21 #elektryka #g1 #m_michalski #seo
Swobodne ujemnie naładowane nośniki ładunków płyną zawsze od miejsca z nadmiarem elektronów (biegun ujemny), do miejsca z niedoborem elektronów (biegun dodatni).
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#_av #b21 #elektryka #g1 #m_michalski #seo
Umowny kierunek prądu przyjmuje się jako od bieguna dodatniego do ujemnego. Na rysunku poniżej - tak jak to wskazuje strzałka.
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Flashcard 1444576103692

Tags
#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium
Question
A sign is sensible, for [...]
Answer
it can be perceived by the senses.

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A sign is sensible, for it can be perceived by the senses.

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Flashcard 1444577676556

Tags
#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium
Question
Every sign has meaning either from [...]
Answer
nature or from convention.

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Every sign has meaning either from nature or from convention.

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Flashcard 1444579511564

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#english #has-images
Question
Answer

flock


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Flashcard 1444582919436

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#has-images #italiano
Question
Answer
mandria

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Flashcard 1444586327308

Tags
#has-images #italiano
Question
Answer

gregge


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#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

3.1.1. Total, Average, and Marginal Revenue

This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist , there is a difference between market demand and the demand facing an individual firm. To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition a firm is a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units.

Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7.

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re




#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm.
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3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as marke

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3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re




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To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect.
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d and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . <span>To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentia

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re




Flashcard 1444594191628

Tags
#english-italian
Question

go figure

Answer

vai a capire


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Flashcard 1444596813068

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
To keep the analysis simple at this point, we will note that competition could be either [...]
Answer
perfect or imperfect.

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Parent (intermediate) annotation

Open it
To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect.

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re







Flashcard 1444598385932

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Unless the firm is a pure [...], there is a difference between market demand and the demand facing an individual firm.
Answer
monopolist (i.e., the only seller in its market)

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Parent (intermediate) annotation

Open it
Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm.

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re







Flashcard 1444599958796

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The seller can offer any quantity at this set market price without affecting price.

Which market structure iz we talking about?
Answer
Perfect competition

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repetition number in this series0memorised on               scheduled repetition               
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Parent (intermediate) annotation

Open it
ption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). <span>The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influ

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
zation requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. <span>3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pure monopolist (i.e., the only seller in its market), there is a difference between market demand and the demand facing an individual firm. A later reading will devote much more time to understanding the various competitive environments (perfect competition, monopolistic competition, oligopoly, and monopoly), known as market structure . To keep the analysis simple at this point, we will note that competition could be either perfect or imperfect. In perfect competition , the individual firm has virtually no impact on market price, because it is assumed to be a very small seller among a very large number of firms selling essentially identical products. Such a firm is called a price taker . In the second case, the firm does have at least some control over the price at which it sells its product because it must lower its price to sell more units. Exhibit 4 presents total, average, and marginal revenue data for a firm under the assumption that the firm is price taker at each relevant level of quantity of goods sold. Consequently, the individual seller faces a horizontal demand curve over relevant output ranges at the price level established by the market (see Exhibit 5). The seller can offer any quantity at this set market price without affecting price. In contrast, imperfect competition is where an individual firm has enough share of the market (or can control a certain segment of the market) and is therefore able to exert some influence over price. Instead of a large number of competing firms, imperfect competition involves a smaller number of firms in the market relative to perfect competition and in the extreme case only one firm (i.e., monopoly). Under any form of imperfect competition, the individual seller confronts a negatively sloped demand curve, where price and the quantity demanded by consumers are inversely related. In this case, price to the firm declines when a greater quantity is offered to the market; price to the firm increases when a lower quantity is offered to the market. This is shown in Exhibits 6 and 7. Exhibit 4. Total, Average, and Marginal Revenue under Perfect Competition Quantity Sold (Q) Price (P) Total Revenue (TR) Average Re