Category Archives: Economics

Distinguish between a scientific theory and a hypothesis.

What are the seven characteristics that all living things share? Give examples of each characteristic (try to come up with new examples not found in the bookl). What are cells? Distinguish between prokaryotic and eukaryotic cells. What roles do organelles serve? Understand the hierarchy of life on Earth from smallest to largest (from atom to biosphere). What is evolution? What did Linnaeus contribute to our modern system of grouping living organisms? What is biology? What is science? Define peer review and explain how it is important to the scientific process. Distinguish between a scientific theory and a hypothesis. What are the steps of the scientific method? Can you work through an example of how to form and test a hypothesis? What is meant when we say a hypothesis….

Design a Chat application using python which has the following features

Design a Chat application using python which has the following features: Message, n, Message o Client Side User given parameters: IP address, port number, Username Note: any one is able to connect to any server§ Username, n, Username § MessageL, 4 bytes, Length of message § UNameL, 2 Bytes, Length of username in bytes §o It should use connection orient reliable Transport layer protocol o Chat Application follows client and multithreaded server architecture o Chat Room: Chat Messages are sent from everybody to everybody. o Standard message header: Notice that use of standard header will make applications developed by different users to be compatible with each other. Note that messages in only below format will be exchanged between server and client. Your application header must follow following field….

What is the condition for this strategy to be successful?

Harvest Corp currently competes in a duopoly. The market price is $40, and Harvest’s annual profit is $40 million. If Harvest were the only firm in the market, Harvest could charge a monopoly price of $100 per unit and earn $140 inillion annually for the indefinite future. By charging $20 per unit for one year, Harvest could drive her rival out of the market and maintain a mnonopoly position forever, but this strategy will result in a $80 million loss since the inarginal cost is $32 per unit. (a) Name the pricing strategy that the Harvest’s manager is considering. Describe the main feature of this pricing strategy. What is the condition for this strategy to be successful? (b) Suppose that the interest rate is 8 percent, should this….

Develop a comprehensive class diagram representing all the business rules described

ABC Travel and Tourism specializes in providing tourist packages to customers across the globe and the company has decided to develop an in-house software system that will help customers search for travel destinations based on popularity, budget, visa restrictions, government policies and attractive climatic conditions. Customers will also be able to book their air tickets, hotel and transportation (rental car, public transportation, cab services) through this system. Prior to the booking, the system will allow users to check for their visa eligibility to travel to destinations outside of their country of citizenship. Users will also be able to review and rate destinations or hotels using the system. The company also offers pre-set packages and if a customer decides to go with a specific package, they will be asked….

What is a fuel cell?

The principles of electrochemistry are applied in fuel cells, corrosion and metal/mineral processing, (a) The following questions are based on a fuel cell: (1) What is a fuel cell? (ii) What type of electrochemical cell is a fuel cell? (iii) For a fuel cell, write the balanced half reactions at the cathode and the anode as well as the overall balanced reaction including state symbols. (b) Consider the following diagram of a drop of water on a piece of iron that is being protected from corrosion by magnesium: Water containing dissolved oxygen Iron Magnesium (1) Give the name of the specific technique that is used to protect iron from corrosion illustrated in the diagram (ii) Briefly explain the principle behind the type of technique that is used to….

Evaluate Mike’s handling of this situation

Cascade Soap Company Mike Bowers sells soap products to grocery wholesalers and large retail grocery chains. The following presentation occurred during a call he made on Bill Reese, the soap buyer for a grocery store. Salesperson: Bill, you have stated several times that the types of promotions or brands that really turn you on are ones that carry the best profit. Is that right? Customer: Yes, it is. I’m under pressure to increase my profit-per-square-foot in my department. Salesperson: Bill, I recommend that you begin carrying the king size of Cascade. Let’s review the benefits and economics of this proposal. King-size Cascade would cost you 86.8¢ a box. The average resale in this market is 99¢. That means that you would make 12.2¢ every time you sell a….

What would be your second and third choices? Why?

Central Hardware Supply Sam Gillespie, owner of Central Hardware Supply, was referred to you by a mutual friend. Gillespie was thinking of dropping two of its product suppliers of homebuilding supplies. “The sale should be guaranteed,” your friend had stated. Your friend’s information was correct and your presentation to Gillespie convinces you that he will benefit from buying from you. He comments as you conclude the presentation: “Looks like your product will solve our problem. I’d like to think this over, however. Could you call me tomorrow or the next day?” Questions 1. The best way to handle this is to a. Follow his suggestion. b. Ignore his request and try a second close. c. Probe further. You might ask: “The fact that you have to think this….

What are the ethical considerations, if any, in this case?

Steve Santana: Pressured to Close a Big Deal Steve Santana works for a pharmaceutical manufacturer. Steve’s company is pressuring his division to increase sales. Presently Steve is working on closing a big deal with the Danson HMO. This sale would be huge for the company. The sale would allow Steve to reach not only his sales goals but also his entire sales division’s sales quota. Rob, the divisional sales manager and Steve’s boss, is understandably anxious about making the sale to Claire Manford, Danson’s purchasing agent. In their conversation about Claire, Rob suggests Steve go around Claire and talk with Danson’s chief medical adviser. This might help close the sale. Steve is against this suggestion. Rob then suggests they place Claire on their consulting board, which pays a….

Analyze and describe the conversation between Judy Allison and Bill Taylor.

Alabama Office Supply Judy Allison sells cellular telephones for Alabama Office Supply in Birmingham. Today she is calling on Bill Taylor, purchasing agent for a large manufacturing firm. Two weeks earlier, she had made her first sales call and had left a demonstrator for the company executives to try out. The previous evening, Bill had called Judy and asked her to come in so he could give her an order. After their initial hellos, the conversation continued: Buyer: Judy, thanks for coming by today. Our executives really like your equipment. Here is an order for four phones. When can you deliver them? Salesperson: Is tomorrow too soon? Buyer: That is perfect. Leave them with Joyce, my secretary. Joyce [ Bill says over the intercom ], Judy will deliver….

How can Lynn use quantity (cumulative and noncumulative), cash, trade, and consumer discounts to her advantage?

McBath Women’s Apparel Getting a new, improved product into a chain of stores that has never carried her line of women’s apparel is a new experience for Lynn Morris. Lynn has been promoted to key account sales representative for McBath Women’s Apparel in the past month. She has worked for McBath since graduating from college three years earlier. As a novice salesperson in a large metropolitan market, she inherited a sales territory where all of the major department stores in her area carried the popular McBath line. By displaying a service attitude, Lynn kept all her original accounts and managed to help several outlets increase sales of McBath products, but she was never given the opportunity to sell to new accounts. Now, she has accepted the key account….