1 In a Socialist economic system own their individual human capital and the government most other non-human factors of production. This type of economic system is based on the basic belief that _________________________ is bad for society.

a economic inequality

b individual freedom

c economic greed

d individual prosperity

2 By its very nature a market economy is based on the presumption that consumers will buy products when they believe the ____________ derived is equal or better than the price required by the seller.

a value

b cost

c utility

d purpose

3 Among the many conclusions asserted by Adam Smith, his assertion about economic prosperity was based on which fundamental principle?

a Understanding the concept of survival of the fittest will lead to prosperity.

b freedom to own land or property was vital to the survival of any economy,

c Determining what motivates people was essential for creating economic prosperity.

d Command economies and structured markets must be in place before we can work toward prosperity.

4 What would be the most accurate rationale to explain the following assertion: People working in their own self-interest, who produce goods and services, create economic gain for all?

a By taking advantage of a vast supply of labor, people working in their own self-interest could hire others at very low wages.

b Entrepreneurs tend to include themselves in a group of people who need charitable support. A portion of the entrepreneur's profit (as required by law) goes to the charity of one's choice to support the less fortunate.

c In order to earn money and produce goods that improve lives, self-directed gain would provide jobs, and subsequently wages for others.

d The government pays entrepreneurs in the U.S. to produce goods, services, and wealth for others.

5 The next wave of marketable innovations will likely involve new ways to produce and conserve energy. If we can turn new technology into marketable products and services that produce energy the U.S. could see a surge in output of goods and services. The Department of Economic Development would document this surge by measuring the ______.

a consumer price index.

b number of workers who are frictionally employed.

c gross domestic product.

d consumer demand.

6 When businesses can promote different features of their products and consumers are willing to pay more for products containing the features they desire, the competitive environment would be characterized as:

a Perfect

b Oligopolistic

c Monopolistic

d Capitalist

7 As a new entrepreneur about on the verge of launching a new business you need to keep in mind you’re your company's profits are of little value if they are not accompanied by:

a a credible business model.

b an increase in customer loyalty.

c positive cash flow.

d a business plan.

8 Managing a new business and having the capacity to effectively evaluate operational performance requires new entrepreneurs be able to evaluate and understand:

a the necessary funding required to launch the business.

b the actions of their competitors.

c information contained within the financial statements.

d the forces of supply and demand in the market.

9 When a new business utilizes a cash-only approach in selling its goods and services as the basis for financing the growth of the business it has opted to use _____________________________ as the primary means of financing the growth of their company.

a Venture Capital

b Guaranteed Loans

c Microloans

d Bootstrapping

Which of the following is least likely to be included in the tax constraint for an individual investor?

a. The federal withholding tax from the individual's employment income.

b. The tax liability from a taxable lump sum received as part of an employment contract.

c. Property taxes to be paid during the upcoming year from ownership of a beach house.

d. Capital gains taxes owed on the sale of a watch worn by Benjamin Franklin.

Effective leaders are pillars of success for an organization and a nation. From your personal experience and knowledge, select an individual whom you think has been an exemplary leader and describe the characteristics or personality about that person in relation to the theories of leadership that you have learned from your course.

Also, discuss what are the factors influencing human relations in an organization.

Assignment4: Firewall Allow/Block Conflicts

Using the information presented in chapter 7, the provided handout (Firewall Limitations), and the lessons learned from Lab4 to answer the following questions:

• Discuss types of conflicts that may arise between firewall port ranges and individual port allow/block settings?

• What are the different types of conflict that you identified from this discussion?

What in Articulation, Inc. produces music stands. In its current manufacturing environment, Articulation makes all of the bases used in production. A potential outside supplier has been identified who could supply bases of equal quality to Articulation. Why would it be important for the manager of Articulation to know at what purchase price the company would be economically indifferent between making the bases and purchasing the bases from the outside supplier?

Jason invested $1,000 in large U.S. stocks at the beginning of 2012. This investment earned 15.60 percent in 2012, 30.25 percent in 2013, 11.65 percent in 2014, and 2.30 percent in 2015. What return did he earn in the average year during the 2012–2015 period? (Round answer to 2 decimal places, e.g. 1.52.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you’ve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Return earned in the average year %

After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Felix Godwin, Capital $454,290 Felix Godwin, Drawing 25,000 Fees Earned 520,245 Wages Expense 398,500 Rent Expense 95,600 Supplies Expense 35,865 Miscellaneous Expense 11,955 Journalize the two entries required to close the accounts. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 30 Felix Godwin, Capital 454,290 454,290 Felix Godwin, Drawing 25,000 Wages Expense 398,500 Fees Earned 520,245 520,245 Supplies Expense 35,865 Miscellaneous Expense 11,955 Apr. 30 Rent Payable 95,600 Felix Godwin, Capital 407,615

Buena Vision Clinic is considering an investment that requires an outlay of $600,000 and promises a net cash inflow one year from now of $810,000. Assume the cost of capital is 10 percent.

Required:

1. Break the $810,000 future cash inflow into the three components shown below. Enter all your answers as positive amounts.

2. Now, compute the present value of the profit earned on the investment.
$

3. Compute the NPV of the investment. When required, round your answer to the nearest dollar.
$

Compare this with the present value of the profit computed in Requirement 2. What does this tell you about the meaning of NPV?
Net present value represents the present value of future profits

Whenever there is a political campaign, political leaders face a series of difficult decisions. One of the most interesting is the problem of deciding whom to support and when in a primary campaign. Suppose that a particular party leader faces a decision in a primary election. He can support Smith or Brown or he can avoid a commitment, simply declaring himself neutral in the primary. The consequences stemming from these three alternatives depend, of course, on whether it is Smith or Brown who wins the nomination. Let us suppose that our leader is mostly concerned about the number of patronage jobs that will be allocated to him and that the following table reflects the actual situation:

What would the party leader do if he wants to maximize expected value and the probability of Smith’s winning is equal to p?

Whenever there is a political campaign, political leaders face a series of difficult decisions. One of the most interesting is the problem of deciding whom to support and when in a primary campaign. Suppose that a particular party leader faces a decision in a primary election. He can support Smith or Brown or he can avoid a commitment, simply declaring himself neutral in the primary. The consequences stemming from these three alternatives depend, of course, on whether it is Smith or Brown who wins the nomination. Let us suppose that our leader is mostly concerned about the number of patronage jobs that will be allocated to him and that the following table reflects the actual situation:

What would the party leader do if he wants to maximize expected value and the probability of Smith’s winning is equal to p?