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Flashcard 1429134511372

Tags

#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium

Question

A [...] is an arbit rary sensible sign having a meaning imposed on it by convention.

Answer

symbol

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A symbol is an arbit rary sensible sign having a meaning imposed on it by convention. A sign is sensible, for it can be perceived by the senses. Every sign has meaning either from nature or from

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Flashcard 1429224426764

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

Question

Perhaps in an individual’s demand for, say, mustard quantity demanded is not at all sensitive to price and we would say that demand is [...] in that range.

Answer

perfectly inelastic

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Perhaps an individual’s demand for, say, mustard might obey this description. Obviously, in that price range, quantity demanded is not at all sensitive to price and we would say that demand is perfectly inelastic in that range.

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4.1. Own-Price Elasticity of Demand
Certainly, there could be no demand curve that is perfectly vertical at all possible prices, but over some range of prices it is not unreasonable that the same quantity would be purchased at a slightly higher price or a slightly lower price. Perhaps an individual’s demand for, say, mustard might obey this description. Obviously, in that price range, quantity demanded is not at all sensitive to price and we would say that demand is perfectly inelastic in that range. In the second case, the demand is horizontal at some price. Clearly, for an individual consumer, this situation could not occur because it implies that at even an infinites

Flashcard 1431573761292

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4

Question

Utility functions is [...], as contrasted to a [...] , ranking.

Answer

ordinal

cardinal

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es of paper with new numbers that maintained the same ranking, then the new set of numbers would be just as useful a utility function as the first in describing our consumer’s preferences. This characteristic of utility functions is called an ordinal, as contrasted to a cardinal, ranking. Ordinal rankings are weaker measures than cardinal rankings because they do not allow the calculation and ranking of the differences between bundl

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
ead. The utility of a bundle containing 4 ounces of wine along with 2 slices of bread would equal 8 utils, and it would rank lower than a bundle containing 3 ounces of wine along with 3 slices of bread, which would yield 9 utils. The important point to note is that the utility function is just a ranking of bundles of goods. If someone were to replace all those pieces of paper with new numbers that maintained the same ranking, then the new set of numbers would be just as useful a utility function as the first in describing our consumer’s preferences. This characteristic of utility functions is called an ordinal, as contrasted to a cardinal, ranking. Ordinal rankings are weaker measures than cardinal rankings because they do not allow the calculation and ranking of the differences between bundles. 3.3. Indifference Curves: The Graphical Portrayal of the Utility Function It will be convenient for us to represent our consumer’s preferences gr

Flashcard 1441759366412

Tags

#cfa-level-1 #factors-that-determine-market-structures #microeconomics #reading-16-the-firm-and-market-structures #section-2-analysis-of-mkt-structures #study-session-4

Question

While perfect competition offers the lowest price, other market forms may [...].

Answer

spur more innovation

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As often happens in economics, there is a trade-off. While perfect competition gives the largest quantity of a good at the lowest price, other market forms may spur more innovation. Specifically, there may be high costs in researching a new product, and firms will incur such costs only if they expect to earn an attractive return on their research investment. This

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2. ANALYSIS OF MARKET STRUCTURES
d monopoly is the local electrical power provider. In most cases, the monopoly power provider is allowed to earn a normal return on its investment and prices are set by the regulatory authority to allow that return. 2.2. Factors That Determine Market Structure Five factors determine market structure: The number and relative size of firms supplying the product; The degree of product differentiation; The power of the seller over pricing decisions; The relative strength of the barriers to market entry and exit; and The degree of non-price competition. The number and relative size of firms in a market influence market structure. If there are many firms, the degree of competition increases. With fewer firms supplying a good or service, consumers are limited in their market choices. One extreme case is the monopoly market structure, with only one firm supplying a unique good or service. Another extreme is perfect competition, with many firms supplying a similar product. Finally, an example of relative size is the automobile industry, in which a small number of large international producers (e.g., Ford and Toyota) are the leaders in the global market, and a number of small companies either have market power because they are niche players (e.g., Ferrari) or have little market power because of their narrow range of models or limited geographical presence (e.g., Škoda). In the case of monopolistic competition, there are many firms providing products to the market, as with perfect competition. However, one firm’s product is differentiated in some way that makes it appear better than similar products from other firms. If a firm is successful in differentiating its product, the differentiation will provide pricing leverage. The more dissimilar the product appears, the more the market will resemble the monopoly market structure. A firm can differentiate its product through aggressive advertising campaigns; frequent styling changes; the linking of its product with other, complementary products; or a host of other methods. When the market dictates the price based on aggregate supply and demand conditions, the individual firm has no control over pricing. The typical hog farmer in Nebraska and the milk producer in Bavaria are price takers . That is, they must accept whatever price the market dictates. This is the case under the market structure of perfect competition. In the case of monopolistic competition, the success of product differentiation determines the degree with which the firm can influence price. In the case of oligopoly, there are so few firms in the market that price control becomes possible. However, the small number of firms in an oligopoly market invites complex pricing strategies. Collusion, price leadership by dominant firms, and other pricing strategies can result. The degree to which one market structure can evolve into another and the difference between potential short-run outcomes and long-run equilibrium conditions depend on the strength of the barriers to entry and the possibility that firms fail to recoup their original costs or lose money for an extended period of time and are therefore forced to exit the market. Barriers to entry can result from very large capital investment requirements, as in the case of petroleum refining. Barriers may also result from patents, as in the case of some electronic products and drug formulas. Another entry consideration is the possibility of high exit costs. For example, plants that are specific to a special line of products, such as aluminum smelting plants, are non-redeployable, and exit costs would be high without a liquid market for the firm’s assets. High exit costs deter entry and are therefore also considered barriers to entry. In the case of farming, the barriers to entry are low. Production of corn, soybeans, wheat, tomatoes, and other produce is an easy process to replicate; therefore, those are highly competitive markets. Non-price competition dominates those market structures where product differentiation is critical. Therefore, monopolistic competition relies on competitive strategies that may not include pricing changes. An example of non-price competition is product differentiation through marketing. In other circumstances, non-price competition may occur because the few firms in the market feel dependent on each other. Each firm fears retaliatory price changes that would reduce total revenue for all of the firms in the market. Because oligopoly industries have so few firms, each firm feels dependent on the pricing strategies of the others. Therefore, non-price competition becomes a dominant strategy. Exhibit 1. Characteristics of Market Structure Market Structure Number of Sellers Degree of Product Differentiation Barriers to Entry Pricing Power of Firm Non-price Competition Perfect competition Many Homogeneous/ Standardized Very Low None None Monopolistic competition Many Differentiated Low Some Advertising and Product Differentiation Oligopoly Few Homogeneous/ Standardized High Some or Considerable Advertising and Product Differentiation Monopoly One Unique Product Very High Considerable Advertising From the perspective of the owners of the firm, the most desirable market structure is that with the most control over price, because this control can lead to large profits. Monopoly and oligopoly markets offer the greatest potential control over price; monopolistic competition offers less control. Firms operating under perfectly competitive market conditions have no control over price. From the consumers’ perspective, the most desirable market structure is that with the greatest degree of competition, because prices are generally lower. Thus, consumers would prefer as many goods and services as possible to be offered in competitive markets. As often happens in economics, there is a trade-off. While perfect competition gives the largest quantity of a good at the lowest price, other market forms may spur more innovation. Specifically, there may be high costs in researching a new product, and firms will incur such costs only if they expect to earn an attractive return on their research investment. This is the case often made for medical innovations, for example—the cost of clinical trials and experiments to create new medicines would bankrupt perfectly competitive firms but may be acceptable in an oligopoly market structure. Therefore, consumers can benefit from less-than-perfectly-competitive markets. PORTER’S FIVE FORCES AND MARKET STRUCTURE A financial analyst aiming to establish market conditions and consequent profitability of incumbent firms should start with the questions framed by Exhibit 1: How many sellers are there? Is the product differentiated? and so on. Moreover, in the case of monopolies and quasi monopolies, the analyst should evaluate the legislative and regulatory framework: Can the company set prices freely, or are there governmental controls? Finally, the analyst should consider the threat of competition from potential entrants. This analysis is often summarized by students of corporate strategy as “Porter’s five forces,” named after Harvard Business School professor Michael E. Porter. His book, Competitive Strategy, presented a systematic analysis of the practice of market strategy. Porter (2008) identified the five forces as: Threat of entry; Power of suppliers; Power of buyers (customers); Threat of substitutes; and Rivalry among existing competitors. It is easy to note the parallels between four of these five forces and the columns in Exhibit 1. The only “orphan” is the power of suppliers, which is not at the core of the theoretical economic analysis of competition, but which has substantial weight in the practical analysis of competition and profitability. Some stock analysts (e.g., Dorsey 2004) use the term “economic moat” to suggest that there are factors protecting the profitability of a firm that are similar to the moats (ditches full of water) that used to protect some medieval castles. A deep moat means that there is little or no threat of entry by invaders, i.e. competitors. It also means that customers are locked in because of high switching costs. <body><html>

Flashcard 1456865414412

Tags

#48-laws-of-power

Question

[...] is the supreme virtue of the gods.

Answer

patience

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patience is the supreme virtue of the gods, who have nothing but time.

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Flashcard 1478453234956

Tags

#cfa-level-1 #reading-25-understanding-income-statement

Question

Expenses may be grouped together either by their [...] or [...].

Answer

nature

function.

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Expenses may be grouped together either by their nature or function.

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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
equired to be presented separately on the face of the income statement. IFRS additionally require that line items, headings, and subtotals relevant to understanding the entity’s financial performance should be presented even if not specified. Expenses may be grouped together either by their nature or function. Grouping together expenses such as depreciation on manufacturing equipment and depreciation on administrative facilities into a single line item called “depreciation” is an example of a

Annotation 1617004727564

It is true that hardly a year went by without wars between Muslim and Christian princes. It is, of course, equally true that these wars, and to an even greater extent the commercial rela tions which continued in spite of them, appreciably affected the domestic history of each of the power blocs involved. Never theless, the relative self-containedness and self-sufficiency of the three major units remain the outstanding characteristics of medieval history. On the whole, the motivation of their political and cultural development lay within their own confines; their problems economic, political, religious were predominantly domestic.

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Annotation 1617015213324

Each civilization was convinced of its spiritual superiority,

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Flashcard 1617016786188

Question

How did Jarir begin to compose naqa'id poetry?

Answer

Abu Ubayda states that this came about for purely family reasons: a quarrel between spouses of the Kulayb and Salit clans, which are branches of the Yarbu' tribe. The husband, who was a Saliti, injured his wife and her brother (of the Kulayb clan). An attempt to prevent a quarrel between the two clans was not fully successful, since they seem to have harboured a degree of ill-feeling towards each other. This incident seems to be the primary cause for hostility between the two branches of the Yarbu' tribe.

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Annotation 1617019145484

Costos del producto

#costeo

Costos del producto

Son los que se identifican directa e indirectamente con el producto. Están dentro de ellos: material directo, mano de obra y carga fabril. Estos tienen la particularidad de tenerse en inventarios hasta cuando se venden, situación en la cual estos se enfrentan a los ingresos para dar origen a los beneficios.

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Annotation 1617019931916

Jarlr's fa1nily \Vas afraid that he n1ight fail and thus bring shan1c upon thc1n

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Annotation 1617021504780

This story indicates that in the \;n1ayyad era, naqii)i~ poetry used to be co1nposcd during quarrels bct\vccn different tribal groups. During this prcli1ninary stage in the \;n1a:yyad period, the naqii)i~ \Vas still a continuation of the traditional naqii)i~ poetry kno\vn in the prc-Isla1nic pcriod

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Flashcard 1617024126220

Tags

#costeo

Question

Son los que se identifican directa e indirectamente con el producto.

Answer

Costos del producto

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Costos del producto
Costos del producto Son los que se identifican directa e indirectamente con el producto. Están dentro de ellos: material directo, mano de obra y carga fabril. Estos tienen la particularidad de tenerse en inventarios hasta cuando se venden, situación en la cual estos se en

Flashcard 1617026485516

Tags

#costeo

Question

Dentro de los costos del producto están: material directo, mano de obra y [...] .

Answer

carga fabril

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Flashcard 1617028844812

Tags

#costeo

Question

Donde están los costos del producto hasta que se venden?

Answer

Inventarios

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Annotation 1617031204108

Costos del periodo

#costeo

Costos del periodo

Son los que no están ni directa ni indirectamente relacionados con el producto, no son inventariados. Se caracterizan por ser cancelados inmediatamente, estos se originan pero no puede determinarse ninguna relación con el costo de producción.

Las clasificaciones enunciadas anteriormente, son las que se consideran de mayor importancia y sobre las que se necesita una mayor claridad para desarrollar el curso. Esto no quiere decir que no existan más clasificaciones; más aún, no es de interés efectuar un estudio detallado de cada una de las clasificaciones del costo que existen, puesto que las enunciadas son suficientes para el desarrollo del curso.

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Flashcard 1617032514828

Tags

#costeo

Question

Son los que no están ni directa ni indirectamente relacionados con el producto, no son inventariados.

Answer

Costos del periodo

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Costos del periodo
Costos del periodo Son los que no están ni directa ni indirectamente relacionados con el producto, no son inventariados. Se caracterizan por ser cancelados inmediatamente, estos se originan pero no puede determinarse ninguna relación con el costo de producción. Las clasificaciones enunciada

Annotation 1618709712140

Mezzanine financing is a hybrid of debt and equity financing that gives the lender the rights to convert to an ownership or equity interest in the company in case of default, after venture capital companies and other senior lenders are paid.

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Mezzanine Financing
What is 'Mezzanine Financing' Mezzanine financing is a hybrid of debt and equity financing that gives the lender the rights to convert to an ownership or equity interest in the company in case of default, after venture capital companies and other senior lenders are paid. Mezzanine financing, usually completed with little due diligence on the part of the lender and little or no collateral on the part of the borrower, is treated like equity on a company's

Flashcard 1618761092364

Question

[...] is a hybrid of debt and equity financing.

Answer

Mezzanine financing

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Mezzanine financing is a hybrid of debt and equity financing that gives the lender the rights to convert to an ownership or equity interest in the company in case of default, after venture capital companie

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Flashcard 1619223252236

Question

What other name were the Buyids known as?

Answer

Buwaihids, Bowayhids, Buyahids, or Buyyids,

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Buyid dynasty - Wikipedia
979 Interim Government of Iran 1979–1980 History of the Islamic Republic of Iran 1980–present Related articles[show] Name Monarchs Economic history Military history Wars Timeline [imagelink] Iran portal v t e The Buyid dynasty or the Buyids (Persian: آل بویه‎‎ Āl-e Buye), also known as Buwaihids, Bowayhids, Buyahids, or Buyyids, was an Iranian Shia dynasty [3] of Daylamite origin. [4] Coupled with the rise of other Irani

Flashcard 1619226135820

Question

What was the Buyid dynasty ?

Answer

An Iranian Shia dynasty^[3] of Daylamite origin.

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Annotation 1619229805836

Hilāl b. al-Muḥassin b. Ibrāhīm al- Ṣābiʾ, his position and era:

secretary and writer of the Buwayhid period, belonging to a family of Sabean scholars and secretaries which had come from its native Ḥarrān to settle in Bag̲h̲dād

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Unknown title
refs"] = { ioo : function() { return true; } } Encyclopaedia of Islam, Second Edition Search Results: Prev | 8 of 454 | Next Hilāl b. al-Muḥassin b. Ibrāhīm al- Ṣābiʾ (543 words) , secretary and writer of the Buwayhid period, belonging to a family of Sabean scholars and secretaries which had come from its native Ḥarrān to settle in Bag̲h̲dād and which included among its members the historian T̲h̲ābit b. Sinān. Hilāl’s grandfather, Abu Isḥāḳ Ibrāhīm [see al-ṣābiʾ ], was director

Flashcard 1619233737996

Question

Jarir ibn Atiyah al-Khatfi Al-Tamimi's dates?

Answer

(ca. 650CE – ca. 728CE)

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Jarir ibn Atiyah - Wikipedia
From Wikipedia, the free encyclopedia Jump to: navigation, search For other uses, see Jarir (disambiguation). Jarir ibn Atiyah al-Khatfi Al-Tamimi (Arabic: جرير بن عطية الخطفي التميمي‎‎) (ca. 650CE – ca. 728CE) was an Arab poet and satirist. He was born in the reign of the caliph Othman, and was a member of the tribe Kulaib, a part of the Banu Tamim. He was a native of al-Yamamah, but also spe

Flashcard 1619238194444

Question

Hammam ibn Ghalib (al-Farazdaq's) dates?

Answer

born c. 641; died 728–730

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Al-Farazdaq - Wikipedia
aUserPrefs"] = { ioo : function() { return true; } } Al-Farazdaq From Wikipedia, the free encyclopedia Jump to: navigation, search Hammam ibn Ghalib (Arabic: همام بن غالب‎‎; born c. 641; died 728–730), most commonly known as Al-Farazdaq (الفرزدق) or Abu Firas, was an Arabian poet. He was born in what is present-day Kuwait (Kāzimah

Flashcard 1619241078028

Question

Al- Ṣābiʾ's approximate dates?

Answer

Late 10th - mid 11th centuries.

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Annotation 1619245534476

His administrative duties and his rank at the court of the Buwayhid amīrs allowed Hilāl al-Ṣābiʾ to write works which, while often adhering faithfully to the genre of adab , constitute, because of the documents of which their author has made use and the evidence reproduced in them, valuable sources of information.

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Unknown title
lāl is said to have received from him 30,000 dīnārs which he was allowed to keep under Muʾayyid al-Dawla, and it was on this capital that he lived until his death in 448/1056. His administrative duties and his rank at the court of the Buwayhid amīrs allowed Hilāl al-Ṣābiʾ to write works which, while often adhering faithfully to the genre of adab , constitute, because of the documents of which their author has made use and the evidence reproduced in them, valuable sources of information. Hilāl is known particularly for his Kitāb al-Wuzarāʾ which he wrote in the time of the vizier Ibu Māfinā, i.e., during the latter part of

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Al- Ṣābiʾ's approximate dates?