QOTW

QOTW is takinga break for one week. We will be back after the tests are over.
all the best to all FY and SY students. :)

Tomorrow is Republic Day. Here are some interesting facts.

26th January 1950 is one of the most important days in Indian history as it was on this day the constitution of India came into force and India became a truly sovereign state. In this day India became a totally republican unit. The country finally realized the dream of Mahatma Gandhi and the numerous freedom fighters who, fought for and sacrificed their lives for the Independence of their country. So, the 26th of January was decreed a national holiday and has been recognized and celebrated as the Republic Day of India, ever since.
Today, the Republic Day is celebrated with much enthusiasm all over the country and especially in the capital, New Delhi where the celebrations start with the Presidential to the nation. The beginning of the occasion is always a solemn reminder of the sacrifice of the martyrs who died for the country in the freedom movement and the succeeding wars for the defense of sovereignty of their country. Then, the President comes forward to award the medals of bravery to the people from the armed forces for their exceptional courage in the field and also the civilians, who have distinguished themselves by their different acts of valour in different situations.
To mark the importance of this occasion, every year a grand parade is held in the capital, from the Rajghat, along the Vijaypath. The different regiments of the army, the Navy and the Air force march past in all their finery and official decorations even the horses of the cavalry are attractively caparisoned to suit the occasion. The crème of N.C.C cadets, selected from all over the country consider it an honour to participate in this event, as do the school children from various schools in the capital. They spend many days preparing for the event and no expense is spared to see that every detail is taken care of, from their practice for the drills, the essential props and their uniforms.

The parade is followed by a pageant of spectacular displays from the different states of the country. These moving exhibits depict scenes of activities of people in those states and the music and songs of that particular state accompany each display. Each display brings out the diversity and richness of the culture of India and the whole show lends a festive air to the occasion. The parade and the ensuing pageantry is telecast by the National Television and is watched by millions of viewers in every corner of the country.

The patriotic fervor of the people on this day brings the whole country together even in her essential diversity.
Every part of the country is represented in occasion, which makes the Republic Day the most popular of all the national holidays of India.

QOTW 17 Answers

1. A government decides to intervene in an agricultural commodity market in order to stabilize the incomes of the producers. it does this by:
B. Buying stock when output is high and selling stock when output is low

2. What are public goods? What is the free rider problem associated with public goods?
A product that one individual can consume without reducing its availability to another individual and from which no one is excluded. Economists refer to public goods as "non-rivalrous" and "non-excludable". National defense, sewer systems, public parks and basic television and radio broadcasts could all be considered public goods.

The free-rider problem says that a rational person will not contribute to the provision of a public good because he does not need to contribute in order to benefit.

For example, if X doesn’t pay his taxes, he still benefits from the government's provision of national defense by free riding on the tax payments of his fellow citizens

3. Common resources such as the oceans and the skies are similar to public goods becasue they are both:
B. Non-excludable and non-rival in consumption


Correct Answers were given by:
Zenaida, Saniya, Sanita of F.Y.B.Com.
Stella, Olivia, of S.Y.B.Com.

QOTW17

1. A government decides to intervene in an agricultural commodity market in order to stabilize the incomes of the producers. it does this by:
A. Buying stock when output is low and selling stock when output is high
B. Buying stock when output is high and selling stock when output is low
C. Selling stock when output is low and buying stock when output is high
D. Selling stock when output is high and selling stock when output is low.

2. What are public goods? What is the free rider problem associated with public goods?

3. Common resources such as the oceans and the skies are similar to public goods because they are both:
A. Excludable and rival in consumption
B. Non-excludable and non-rival in consumption
C. Non-excludable in consumption
D. Non-rival in consumption

Send in your answers by Monday 21 January 2013 to profKMody@gmail.com

QOTW 16 ANSWER

Which of the following countries is forecast to grow at the fastest rate in 2013?

a. Iraq

 According to The Economist's house price affordability index, which is the world's most undervalued – or cheapest - housing market?

a. Japan

The graduates of which of the following American universities in 2012 had the highest median salary?

c. South Dakota School of Mines & Technology

ALL CORRECT ANSWERS WERE GIVEN BY:

Zenaida, Alisha, Sanita, Saniya of F.Y.B.Com.

Olivia, Stella of S.Y.B.Com.

Good to see many more regulars!! :)

QOTW 16

1. Which of the following countries is forecast to grow at the fastest rate in 2013?

a. Iraq
b. Rwanda
c. Iran

2. According to The Economist's house price affordability index, which is the world's most undervalued – or cheapest - housing market?

a. Japan
b. Germany
c. France

3. The graduates of which of the following American universities in 2012 had the highest median salary?

a. Harvard University
b. Milwaukee School of Engineering
c. South Dakota School of Mines & Technology

Send in your answers to profKMody@gmail.com by Monday 14 January 2013.

QOTW 15 Answer

1. Which of these best describes the Reserve Bank of India?

A. Responsible for monetary policy/money supply

2. The prices of meat products in a competitive market are determined by
C. Supply and demand.

3. The purchasing power of people's incomes is most affected by:

A. The inflation rate.

All correct answers given by Zenaida, Racheal and Sanita  of F.Y.B.Com.
Congratulations and welcome aboard new contestants :)

QOTW 14 Answer

1. Coca-Cola: Contrary to popular myth Coca Cola did not invent the image of the red clad Santa, but it played a major role in popularising it. Indeed Coca-Cola was not even the first soft drinks company to utilize the image of Santa Claus in their advertising, as White Rock Beverages had used it to sell mineral water in 1915 and ginger ale in 1923. There are records of Santa wearing different coloured costumes in the nineteenth century, including green outfits, although the default choice was red. The US magazine Harper's Weekly produced a series of engravings of Santa between 1863 and 1886 which showed him much as he appears today. The artist of these pictures, Thomas Nast, is often credited with having created the modern Santa. In the early 1930s Coca Cola started a 30 year festive advertising campaign featuring drawings by the Swedish artist Haddon Sundblom of a fat Santa in a red coat trimmed with fur and secured with a large belt. Through Coke's magazine advertisements, billboards and store displays these images helped cement today's image of Santa.

2. Russia: Russia is the lowest ranked of these three countries at 133, whilst Estonia's economy is ranked relatively highly (#32). In the EU, the lowest ranked nation is Greece (#94) followed by Italy (#72). Denmark, Finland and New Zealand occupy the top three spots. The bottom three ranked countries globally are Afghanistan, North Korea and Somalia.

3. Mikhail Gorbachev: The Soviet Union collapsed with dramatic speed in the second half of 1991. Communist rule effectively came to an end in late summer with the suspension of all communist party activity on Soviet territory. In early December the presidents of Russia, Ukraine and Belarus declared the end of the Soviet Union and the founding the Commonwealth of Independent States. On 17th December Gorbachev reluctantly agreed to dissolve the Soviet Union. He resigned on 25 December and was replaced by Boris Yeltsin.

All correct answers given only by Zenaida FYBCom!

QOTW 15

1. Which of these best describes the reserve bank of India?

A. Responsible for monetary policy/money supply

B. Prints money.

C. Keeps the country out of debt.

D. Helps people in need.

2. The prices of meat products in a competitive market are determined by
A. Government.

B. Business monopolies.

C. Supply and demand.

D. The Consumer Price Index.

3. The purchasing power of people's incomes is most affected by:

A. The inflation rate.

B. The trade deficit.

C. The balance of payments.
D. Supply and demand.

Send your answers in to profKMody@gmail.com by Monday 7 January 3013