Explain how it is possible for a country to have a positive balance of trade but a negative balance of payments.

You are an event management company. Your customers want you to create an event with the 'wow' factor was the brief given to you by North Cypriot Young Businessman Association who were looking to hold a conference followed by an evening of entertainment for 200 guest with overnight accommodation with Palm Beach Hotel. They are going to invite investors from Turkey to make them invest in North Cyprus by the means of Tourism. As an event management company what kind of solutions can you offer them. Design an event and make your customers happy. You have a 100.000 USD budget. Just give a tentative budget doesn’t have to be too detailed. -WRITE MAXIMUM 500 WORDS

Preparation of a complete master budget

The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015:

ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2015
ASSETS
Cash..........................................................		$ 40,000
Accounts receivable................................		342,248
Raw materials inventory.......................... Finished goods inventory........................		98,500    325,540
Total current assets.................................		806,288
Equipment................................................	$600,000
Less accumulated depreciation..............	150,000	450,000
Total assets..............................................		$1,256,288
LIABILITIES AND EQUITY
Accounts payable....................................		$    200,500
Short-term notes payable....................................		12,000
Taxes payable..........................................		0
Total current liabilities.............................		212.500
Long-term note payable........................... Common stock.........................................	$335,000	500,000
Retained earnings....................................	208,788
Total stockholders’ equity.......................		543,788
Total liabilities and equity........................		$1,256,288

To prepare a master budget for April, May, and June of 2015, management gathers the following information:

• Sales for March total 20,500 units. Forecasted sales in units are as follows: April, 20,500; May, 19,500; June, 20,000; and July, 20,500. Sales of 240,000 units are forecasted for the entire year. The product's selling price is $23.85 per unit and its total product cost is $19.85 per unit

• Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 4,925 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,000 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.

• Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods inventory is 16,400 units, which complies with the policy.

• Each finished unit requires 0.50 hours of direct labor at a rate of $15 per hour.

• Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20,000 per month is treated as fixed factory overhead.

• Sales representatives' commissions are 8% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,000.

• Monthly general and administrative expenses include $12,000 administrative salaries and 0.9% monthly interest on the long-term note payable.

• The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none is collected in the month of the sale).

• All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the next month.

• The minimum ending cash balance for all months is $40,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.

• Dividends of $10,000 are to be declared and paid in May.

• No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 35% in the quarter and paid in the third calendar quarter.

• Equipment purchases of $130,000 are budgeted for the last day of June.

Required

Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.

1. General and administrative expense budget.
2. Cash budget.

Check  

(2) Units to produce: April, 19,700; May, 19,900

(3) Cost of raw materials purchases, April, $198,000

(5) Total overhead cost, May, $46,865

(8) Ending cash balance: April, $83,346; May, $124,295

(10) Budgeted total assets, June 30: $1,299,440

Beckett Organics

John Beckett enjoys vegetables, so much so that he has given up his full-time job as a lawyer to concentrate on growing and marketing organic vegetables. He started growing vegetables 20 years ago in his back garden and eventually became fully self-sufficient in supplying vegetables for the family. Partly bored with his legal job and tempted by an attractive severance package, John decided he would try to establish his own vegetable supply business. Eighteen months ago he looked around for two fields to lease in which he could grow organic vegetables.

Organic products including vegetables, is a growth market in the UK. Growers must adhere to strict guidelines in order to gain organic certification. Increasing awareness of the problems associated with many pesticides and fertilizers, coupled with an increased interest in healthy eating habits and ‘wholesome’ food, has meant that many consumers are now either purchasing or interested in purchasing organic vegetables. This is true not only of household customers, but in addition, many restaurants are using the lure of organic produce to give them a distinctive edge in the market place.

All this has meant that many of the larger supermarkets in the UK have begun to stock more and more organic produce from what was a relatively specialized market in the 1990s; the market has grown to where overall organic produce accounts for some 12% of the total UK grocery market and in worldwide terms as of January 2010 it accounts for approximately 3% of all food sales. The market for organic vegetables has grown more rapidly than other organic products and it is estimated that by 2014 some 25% of all vegetables marketed in the UK will be organic. This growth has been sustained at a rate of around 20% per year in developed countries. However, organic yields are between 10% and 20% lower than conventional agriculture, with crops like potatoes some 40% lower. Unsurprisingly, this makes organic produce on average around 40% more expensive than non-organic produce.

A.C.Nielsen Co. cite the case of the United States where organic sales eased in the second half of 2009 as middle- and upper-income families have felt the strain of layoffs and declining investment portfolios. Sales in December 2009 were up 5.6 percent, year on year, against a 25.6 percent rise a year earlier.

Organic vegetables offer several advantages over their non-organic counterparts:

• They are generally tastier, and because they are not treated in the same way, are usually fresher than nonorganic products.
• They are good for a healthy lifestyle as they contain no pesticides and chemicals.
• The fact that no pesticides or herbicides are used in their production means that they are much ‘greener’. For example, they help to reduce the problems associated with nitrates in the soil and water supplies.
• On the downside, organic vegetables are generally less uniform, and as far as some consumers are concerned, are less attractive in appearance. This lack of uniformity has also been a problem in the past with supermarket buyers who have traditionally looked for uniformity in fresh products to aid merchandising and marketing in retail outlets.

• Generally, organic vegetables are more expensive than their non-organic counterparts. Currently, on average they are somewhere in the region of 40% more expensive.

In the UK, anyone wishing to claim that their produce is organic, and market it in this way, needs to obtain the approval of the Soil Association, which checks the organic credentials of a supplier. For example in this case, they check the conditions under which the produce is grown and how the seeds used.

Two interesting developments are taking place in the organic produce market. One is the growth of home supplies. This is where the producer supplies direct to the householder. There are a variety of ways of doing this. Some smaller growers use mail-shots and leafleting to build up a client base. They then deliver locally to customers who order from a list. Very often the supplier will simply make up a box of a pre-determined value or weight containing a selection of vegetables which are in season and ready for picking. Other suppliers are using a similar system, but take their orders via the Internet. This is particularly suitable for this type of product as customers can check on a regular basis what is available and order from home. The produce is then delivered at a pre-arranged time.

The second development in the organic produce market is the growth of farmers’ markets. These markets are usually run by local authorities, often on Saturdays or Sundays. Local and other producers attend these markets, paying a small fee for a stall and then sell their produce direct to the consumer. These farmers’ markets partly came about as a result of the frustration felt by many farmers and growers at the way they were being treated by retailers and at the margins they were receiving. In addition, such markets have been successful because consumers feel they are getting fresh produce at lower prices than they might be able to obtain through supermarkets.

Despite the growth in the market for organic vegetables, after 18 months in his business, John is worried. Quite simply, his business has not been as successful as he envisaged it would be, and as a result he is not earning enough to make a living. The real worry is that he is not sure why this is the case. His produce, he believes, is as good as anything in the business. He is a very good grower and the land he has leased is perfect for the range of produce he wishes to grow. Starting with organic potatoes he now produces a range of organic vegetables including beans, sprouts, carrots, lettuce and his latest venture organic tomatoes and corn grown in poly-tunnels. Although customers he currently supplies are very loyal to John, indeed many are friends and acquaintances he has known over the years when he grew vegetables in his back garden, there are simply not enough of them.

As a result, his turnover which increased rapidly over the first year of the business has for the last six months has stagnated. He mainly supplies locally and has tried to increase his customer base by taking leaflets out and posting them through letterboxes in the area. He has done this by dividing up the housing areas in a ten mile radius around his growing area and dropping leaflets throughout the area to as many houses as he can cover on a systematic basis. Only some 2% of customers have responded with an order, usually contacting by telephone. These customers seem to come from the middle class areas. He has considered taking a stall at one of the farmers’ markets, the nearest of which is some 40 miles away and operates one day per month, but he realises this would not be enough to reach the turnover levels he requires. He has in the past supplied one or two local restaurants and hotels, but usually only when they have contacted him because they have had a problem with their existing supplier.

He has never followed these up. His growing area is currently too small to supply a major retailer, although he has been approached on an informal basis by the buyer of a voluntary chain of local grocers representing some 40 retail outlets in the county.

John is wondering where he goes from here. He cannot understand why his superior products are not selling well. A friend has suggested that John needs a more strategic approach to marketing. John is not convinced. He feels his business is too small to warrant any kind of marketing, never mind strategic marketing, and he has always felt that a good product should sell itself. He is, however, anxious to grow the business and become a leading organic vegetable supplier.

Questions 1:

What advice would you give to John about developing his business through more effective strategic marketing?

Questions 2:

What are the strategies that John should use to market his Organic vegetables since this is a new and upcoming area of business?

Questions 3:

What would be the appropriate strategy that you would suggest if this company is to start marketing its products in your home country? Explain with reasons.

Questions 4:

What in your opinion should be the marketing strategy that an organization of this type should indulge in? Bring out the advantages and disadvantages of the strategy.

Answer the following questions.

Don’t copy paste from any internet sources. Write in your own words.

Q1. Explain with the help of graphs, how price and output is determined in the Monopoly.

Q2. Describe the features of Perfect Competition and how efficiency is achieved under Perfect competition.

Q3. Explain Product differentiation strategy under Monopolistic competition and how price and output is determined in a long run under Monopolistic Competition.

Assume the variation margin Goldman Sachs imposes on your Eurodollar contract is $1000. How much would the implied Eurodollar rate (on an annual basis) need to change in basis points for you to receive a margin call if the call happens AT $1000? Round to the nearest basis point.

Problem 6.21

A 5000kg truck is parked on a 12? slope.

Part A

How big is the friction force on the truck? The coefficient of static friction between the tires and the road is 0.90.

Write a one to two page paper about Nutrition in Early Childhood Identify the most common nutritional deficiencies in Early childhood Explain how proper nutrition affects the physical and cognitive development in early childhood Explain how improper nutrition and malnourishment can affect physical and cognitive development in early childhood

For the following two situations fully explain why the monopolist would increase or decrease output.

1. Marginal Revenue exceeds Marginal Cost

2. Marginal Cost exceeds Marginal Revenue

7. Suppose the government pays everyone who lost his/her job during the current

crisis 5000$. How does the graph below change? How does the GDP change?

Explain.

A patient appears to have “white coat” hypertension- very high blood pressure when they come to the doctor’s office. When they are relaxed at home, blood pressure is fairly normal. Blood tests show that the patient has high sodium levels and low potassium levels during these periods of hypertension. Additionally, the patient’s medical records also showed that blood pressure rises unusually during fasting and illness as well, and that they had to stop taking an anti-inflammatory drug due to hypertension as a side effect. The physician talks to a colleague who is an endocrinologist specializing in genetics (to the rescue!).

The endocrinologist concluded that the patient might have inherited a mutation that affects the activity of a steroid hormone receptor (Receptor A) that binds to a steroid hormone (Hormone A) that plays an important role in blood pressure regulation. She found that the patient has a mutation that allows Receptor A to be activated even better by a second, related steroid Hormone B. Hormone B can now, by accident, strongly activate Receptor A even within the normal range of blood levels regulated by its negative feedback loop.

• Hormone A: What is Hormone A? What regulates its secretion? What cells secrete it? What is its normal physiological role?
• Hormone B: What is Hormone B? What regulates its secretion? What cells secrete it? What is its normal physiological role?

Discuss two factors that the influence the changes in the public policy concepts. And what is the concept of public policy under the following focuses:

a. governmental relationships

b. authoritative of values.

Reflect critically on the European Capital of Culture programme as an instrument for promoting cultural development.
(1000+ words)

In a market where there are many price-taking buyers and sellers, there are many possible equilibrium prices. Each of these prices represents a Nash equilibrium for this market.

True or False?