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May Project SEARCH Tours
May 16th, 21st, 23rd and 28th
Tours include a walk-through of our internship departments and training room, an explanation of our curriculum, as well as an opportunity to meet the interns and hear about their experiences. RSVP is required as space is limited. Contact Jedd Lapid at email@example.com. More about Project SEARCH
May 16th, 9:30-11am Children's Hospital of Wisconsin
May 21st, 8:30-10am Andis (Contact Marissa Mueller at firstname.lastname@example.com)
May 21st, 9:30-11am ProHealth Waukesha Memorial Hospital
May 23rd, 1-2:30pm St.Joseph's Hospital
May 28th, 9:30-11am Froedtert Hospital
May/June Session of Safe Babies Healthy Families Labor and Delivery Classes
May 23rd, 30th, June 6th and 13th, 4:30-6:30pm
This program is designed for young women/couples, support people and single parents. The sessions focus on what to expect during pregnancy and delivery and provide valuable information on how to care for your newborn. Registration is required, please registed by calling Safe Babies Healthy Families at 414-449-4444. More about Safe Babies Healthy Families
Walk With Me
June 26th, 5pm-8pm, Milwaukee County Zoo
Join us on Wednesday June 26th, at the Milwaukee County Zoo and help create a world of possibilities for children and adults with disabilities! Your support of this 13th annual walk helps us provide individuals the opportunity to live, learn, work and play in our communities.
Your walk registration includes admission to the zoo, parking and a picnic dinner. T-shirts at registration are optional. (T-shirt registration will close May 30th).
Funds raised through this event will be used locally to fund vital programs that provide direct services for children and adults with disabilities. Your support will go far beyond just one evening of walking. Together we are making a difference!


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Breaking News
PAC proposes non-partisan movement to defend ConstitutionBy Thomas Mulenga and Mirriam Chabala on 17 May 2019
Peoples' Alliance for Change (PAC) president Andyford Banda has suggested the formation of a non-partisan movement to block the enactment of proposals made by the National Dialogue Forum for the amendment of the Constitution.
And Banda says some proposals, such as allowing members of parliament to remain in office until the day of elections, will only advantage the ruling party and serving lawmakers.
The National Dialogue Forum (NDF) on Wednesday evening adopted the Constitution of Zambia, Electoral Process and Public Order draft amendment Bills of 2019 for possible enactment by Parliament before it finally closed after 16 days of deliberations.
However, in a statement yesterday, Banda said Zambians should stand up and defend the Republican Constitution by shooting down the proposed amendments made at the National Dialogue Forum.
"As a party, our route was not to shun this process, we hoped our opposing voice together with other reasonable minds would minimize the damage to the Constitution but that was not enough. There are a lot of questionable and unnecessary proposals that this country cannot afford to put in the Constitution. The main issues that were supposed to be addressed by this forum such as the Public Order Act and the Electoral Process Act have been silent . And yet, issues that cannot be decided by a few individuals such as the number of constitutional amendments are the ones that are allowed," Banda said.
"Let's remember that these proposals are not yet law. We have an opportunity to ensure that they are not enacted. You must also remember that no one is going to stand up for you, you have to defend your constitution. This is not a PAC or any other party's constitution; we must all take it personal. We also want to advise that it is not fair for a few individuals to enact a constitution that is positioning them to continue ruling. Therefore, I would like to call upon the people of Zambia to come together and form a non-partisan movement to defend the constitution," Banda stated.
He said proposals such as allowing members of parliament to remain in office until the day of elections will only advantage the ruling party and serving lawmakers.
"Under the current economic conditions, and having passed and survived the issue of deputy ministers, why would any right thinking individual think of bringing them back? The question we should ask is; 'what is the motive?' Why should parliament be dissolved on election day? Isn't that giving an advantage to sitting MPs and government during elections? How will that ensure that all players are on the same level of competition? Why should a few individuals decide whether a coalition government is suitable or not? These plus other controversial proposals must be fought," said Banda.
The NDF, which was initially supposed to sit for only eight days was extended for six more days in two stages to allow delegates to exhaust their arguments on the amendments.
During the closing ceremony at the Mulungushi International Conference Centre, Wednesday, NDF secretary Patrick Chisanga gave an update on the number of amendments that had been proposed to the current Constitution.
"As you may be aware, the mandate of the forum was to facilitate the implementation of resolutions that were made on 12th June, 2018, in Siavonga by Secretaries-General of political parties relating to Constitutional and institutional reforms. The forum was further mandated to facilitate the Constitutional refinement process and regulation of political parties, public order and electoral process reforms. I am pleased to inform you that the forum has adopted the following proposed laws for possible enactment by Parliament: The draft Constitution of Zambia (Amendment) Bill, 2019; the draft Electoral Process (Amendment) Bill, 2019; the draft Public Order Bill, 2019," Chisanga said.
He also highlighted the amendments that the forum made to the Constitution Bill of 2019.
"The forum has revised the preamble to confirm that indeed Zambia remains a Christian nation by removing the words multi religious; Adopted the principle for formation of coalition government where if the candidates fail to reach the 50% plus one threshold provided the parties to a coalition government manage to galvanize the total of 50 percent plus one; Confirm that the National Assembly shall only dissolve at the date of the general election to allow members of parliament complete their full five-year term…Provide for entry of women and marginalized groups in Parliament and councils through the mixed member electoral system; affirm our people's right to freedom of conscience by removing Section 9 clause 1 of the Public Order Bill which penalized people who refuse to sing the national anthem. This means that it is not mandatory for any group to sing the national anthem except at public functions," he explained.
"This forum has also revised the period for hearing of a presidential petition to 30 calendar days from the 14 days; provide for the appointment of deputy Ministers; further, civil servants intending to seek political office must resign from their jobs two years before elections."
On the draft Electoral Process Bill, 2019, the forum proposed the reduction of the election campaign period from three to two months.
"On the draft Electoral Process Bill, the forum proposed that the campaign period for a general election be reduced from three months to 60 days. The forum also resolved that the independent candidates should select their symbols from the list made available by the Electoral Commission of Zambia (ECZ). The forum also proposed that the Commission should publish the election time table in a national wide circulation in addition to the gazette and the provision of a coalition government," said Chisanga
"On the Public Oder Bill, 2019, the following proposed amendments have been made: Provide for the enjoyment of the right of freedom of assemble and association; Regulate the conduct of public gatherings for the preservation of public order. We wish to assure you that in the process of validating and refining the Bills, has been very open and transparent as you may be aware that all the proceedings were live on Parliament radio and TV. The process has just started as I indicated earlier on that this is work in progress, the Bills will then go to parliament where they will be enacted into law. As a forum, we have completed our task and the resolutions have since been adopted as you have witnessed."Related Items
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Kamanga threatens to sue Simataa over bribe claims19 Jun 2019
Mutembo explains how KCM liquidator is conflicted19 Jun 2019
AVIC bids for $21m project, but gets govt offer at $25m19 Jun 2019
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0 analysts out of 1 Wall Street brokerage firms rate HSBC Holdings plc (NYSE:HSBC) as a Buy, while 0 see it as a Sell. The rest 1 describe it as a Hold. HSBC stock traded higher to an intra-day high of $41.2. At one point in session, its potential discontinued and the price was down to lows at $40.9834. Analysts have set HSBC's consensus price at $45.52, effectively giving it a 10.89% projection on returns. Should the projected estimates be met, then the stock will likely hit its highest price at $45.52 (up 10.89% from current price levels). HSBC has a 7.7% ROE, lower than the 16.77% average for the industry. The average ROE for the sector is 16.23%.
Yearly earnings are expected to rise by 14.92% to about $3.62. As for the coming year, growth will be about 2.76%, lifting earnings to $3.72. RSI after the last trading period was 40.08. HSBC recorded a change of -0.32% over the past week and returned -0.22% over the last three months while the HSBC stock's monthly performance revealed a shift in price of -2.61%. The year to date (YTD) performance stands at -0.15%, and the bi-yearly performance specified an activity trend of 1.96% while the shares have moved -16.67% for the past 12 months.
HSBC Holdings plc (HSBC) currently trades at $41.05, which is lower by -0.41% its previous price. It has a total of 3.99 billion outstanding shares, with an ATR of around 0.42. The company's stock volume dropped to 1.17 million, worse than 1.83 million that represents its 50-day average. A 5-day decrease of about -0.32% in its price means HSBC is now -0.15% lower on year-to-date. The shares have surrendered $43357.95 since its $49.64 52-week high price recorded on 14th of June 2018. Overall, it has seen a growth rate of -16.67 over the last 12 months. The current price per share is $2.82 above the 52 week low of $38.23 set on 26th of October 2018.
McDonald's Corporation (NYSE:MCD) shares depreciated -0.21% over the last trading period, taking overall 5-day performance up to 0.71%. MCD's price now at $204.49 is greater than the 50-day average of $196.93. Getting the trading period increased to 200 days, the stock price was seen at $181.89 on average. The general public currently hold control of a total of 757.8 million shares, which is the number publicly available for trading. The total of shares that it has issued to investors is 757.8 million. The company's management holds a total of 0.06%, while institutional investors hold about 70.2% of the remaining shares. MCD share price finished last trade 2.23% above its 20 day simple moving average and its upbeat gap from 200 day simple moving average is 12.57%, while closing the session with 4.01% distance from 50 day simple moving average.
McDonald's Corporation (MCD) shares were last observed trading -0.92% down since June 07, 2019 when the peak of $206.39 was hit. Last month's price growth of 3.27% puts MCD performance for the year now at 15.16%. Consequently, the shares price is trending higher by 33.54%, a 52-week worst price since Aug. 02, 2018. However, it is regaining value with 11.38% in the last 6 months. From a technical perspective, it appears more likely that the stock will experience a Bull Run market as a result of the strong support seen recently between $202.78 and $203.63. The immediate resistance area is now $205.37 Williams's %R (14) for MCD moved to 16.46 while the stochastic %K points at 81.25.
MCD's beta is 0.5; meaning investors could reap lower returns, although it also poses lower risks. The company allocated $7.64 per share from its yearly profit to its outstanding shares. Its last reported revenue is $4.96 billion, which was -4% versus $5.14 billion in the corresponding quarter last year. The EPS for Mar 19 quarter came in at $1.78 compared to $1.79 in the year-ago quarter and had represented -1% year-over-year earnings per share growth. MCD's ROA is 16.1%, higher than the 7.19% industry average. Although a more robust percentage would be better, consideration is given to how well peers within the industry performed. Companies within the sector had an ROA of 6.87%.
Estimated quarterly earnings for McDonald's Corporation (NYSE:MCD) are around $2.05 per share in three months through June with $2.21 also the estimate for September quarter of the fiscal year. It means the growth is estimated at 3.02% and 5.24%, respectively. Analysts estimate full-year growth to be 1.77%, the target being $8.04 a share. The upcoming year will see an increase in growth by percentage to 7.84%, more likely to see it hit the $8.67 per share. The firm's current profit margin over the past 12 months is 28.2%. MCD ranks higher in comparison to an average of 5.91% for industry peers; while the average for the sector is 13.21%.


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How to Survive a Final Presentation
Holiday breaks are almost here, which means we get a brief respite from the joys of the academic calendar. However, many of us have a few hurdles to hopefully not collide with before it's all blankets and eggnog and waking up at 11:00am. For many of us, few nemeses vex and intimidate us like the dreaded final presentation. Steel thy notecards and ready your PowerPoint for battle. We will help guide you on your quest to best this harrowing trial and reap the pleasures of a break well earned.
First things first: Chill. Out.
Release hair from hands, breathe deeply, and repeat. Feeling stressed about your final presentation is a natural feeling for anyone to have, especially those who feel that public speaking should be classified as capital punishment. However, for your sake (and the sake of your audience), you're going to have to dial it back. Take a break between editing drafts or practice attempts to watch some quality kitten videos. You'll be more productive if you don't feel like your brain is undergoing a dystopian revolt. You should absolutely try to be as prepared as possible for your actual presentation, but if you can swing it, try to spend ten minutes right before the offending class doing something relaxing that will take your mind off things, like reading a good book or knitting something that takes a mild level of concentration. Calming down this way will make you feel less anxious, and will make you come off less like a trapped feral animal to the rest of your class.
Let me hear your body talk
While we're on the subject of physiological mechanisms, let's get real healthy all up in here. The following suggestion comes with a high eye-rollitude coefficient, but we've got to say it anyway: The day of your presentation (or better yet, the whole week leading up to it), try to get a good night's sleep and eat a solid breakfast in the morning. Right now you might be cackling at the absurdity of trying to sleep more when you are busy with finals, and anticipating the dreaded presentation might not do wonders for your appetite, but there's no arguing that sleeping well and eating breakfast helps with academic performance. Put down the notecards, put on your motivational sleeping headband, tuck your worries away for the night (more kitten videos recommended), and get the granola ready for morning: we're gonna' make it!
Stand and deliver (with your legs shoulder-width apart)
Once you've arrived in the fated classroom to wrangle with the destiny of your grades, you can give yourself a fighting chance by standing strong and tall. Standing confidently and putting a smile on your face can actually make you feel more confident and happy, and if nothing else it can help convince your teacher that you feel good about the quality of your presentation. Keep your legs roughly shoulder-width apart so that you feel balanced, and don't "lock" your knees and clench your legs straight (doing so can supposedly interfere with blood flow and make you feel faint, but in any case it's not a comfortable way to stand). Just imagine this is a care of magical creatures final, and stay saddled on your invisible hippogriff. You can save the bow for the end of the presentation.
Get goofy with your bad self!
Working up the nerve and taking the time to practice your presentation beforehand can sometimes feel as grueling as doing the real thing, but it's a good idea. You can take some of the "blerg" out of it by treating your practice runs as a joke. Try doing your presentation in a goofy voice, or race yourself to say everything you want to say as fast as possible. Even though it seems silly, this will help you get more comfortable with the language and content for your presentation, which will make you seem more polished and professional when you do it for real. Just try to remember to reset your speaking apparatus to "normal person" the day of.
One extra ridiculous secret strategy is to get together with some friends who are working on their own presentations, and take turns presenting to each other is the absolute worst way you can imagine. This is good for some de-stressing laughs, but it will also give you a clearer idea of how you actually would like your presentation to go. You might stumble on some silly bits that you end up wanting to keep around, which is an extra bonus. A little humor is a good way to get your audience involved, and it might help ease the mood of the next poor soul to get called up after you. (Tough luck for them; you'll be a hard act to follow after you've applied all of our ~*~amazing tips!~*~)
Finally, always remember: no matter how your presentation goes, you will probably survive it.
How are you coping with your final presentations? If you don't make it, can we have your stuff? Let us know in the comments!


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Think of the Pearl photo booth as magic on a stand. Capture the smiles, capture the joy, turn it into top quality photos with customizable messages and graphics, then send these off into the world - all in a flash. Ideal for weddings, corporate functions, birthday parties, proms . . . you get the picture. The Pearl sets up in minutes, creates joy and memories for hours.
Browse our collection of photography props including posing stools, steps for seated and standing shots, numbers, and more. These photography props are also ideal for theatre productions, catalog shoots, school portraits and more. With multiple options available, you are sure to find the photography props you need at the low prices you want. Interested in learning more about photography props? Check out What Posing Props Can Do For Your Photo Shoot!
They are plastic, but very strong and the clamping power is quite good. The only annoyance is the little red pads on the end, swivel all the way around so if you are trying to attach something up high with one hand, sometimes they flip backwards and don't grab correctly. You just need to make sure they are facing inwards before you reach up high. I used all 6 clamps to attach a large king size sheet to a linco backdrop stand and it was enough - ... full review
Great photography doesn't always involve buying the most expensive camera on the market. Certainly, great cameras yield very good results. But even the best camera can't perform to its best level without great lighting in the scene. Quite often, that great lighting will come from the sun with outdoor photos. However, when you have to shoot indoors, you need to provide your own lighting. Although you can produce this lighting with an on-camera flash unit, photography lighting sets provide the best quality of light. You also can make significant adjustments to the intensity and direction of light when using a set, giving you maximum control of the photo quality.
Great for the price point! Will get lots of use out of it. Biggest issue was setting it up, theres absolutely no instructions that comes with this set. There is a piece of paper titled "instructions" BUT it's literally just a list of what's inside the packaging and not how to put it together. Had to watch a video online to figure it out. This was my first time setting up something like this. Also the polls are a little flimsy and I'm always worried about it falling over however again you pay what you get, don't expect top of the line equipment when you're purchasing relatively cheap stuff. Anyways thumbs up from me, it's basically exactly what I needed.
Like other photo backdrop materials, polyester also comes in various sizes and colors. An advantage of this fabric is that it's wrinkle-free. If there are heavy wrinkles, it can easily be removed by warm ironing from the back or by steam ironing it when it's hung. It also includes rod holes that are perfect for hanging, especially if you don't have a place to store it after using.
We had so much fun on Christmas with this backdrop and the accessories. We had an ugly Christmas sweater dinner and we took so many photos using this. It was like an ongoing photo session. The back drop is very sturdy and was put up for the next holiday season. I used a hot glue gun to attach the sticks to the props rather than using the tape strips that were included.
The backdrops not high definition, will some blurred,so need distance to take pictures. Also many large format images may seem a little pixelated when you view it up close but I make sure that only suitable images are used for the drops to provide the most realistic look possible.Please keep in mind that all computer screens vary in color calibration.
Football season is nearly upon us and Backdrop Express's sports and stadium-themed printed backdrops are a great way to capitalize on the bone crunching. They're available in poly paper or vinyl in either 4 x 5-foot or 5 x 6-foot sizes, or a fabric with sizes ranging from 5 x 6.5 feet up to 10 x 10 feet in a choice of light or heavyweight. The poly paper version is water resistant and has a matte finish. If you opt for vinyl, you'll get a more durable backdrop that's also water resistant and has a matte finish. The heavyweight fabric is a polyester/cotton knot that's washable and wrinkle resistant with a sewn-in rod pocket. The lightweight fabric is a 100 percent polyester weave that Backdrop Express likens to a tablecloth. It, too, is wrinkle resistant, though less than the heavyweight fabric. On the plus side, Backdrop Express says the printed design is "slightly clearer" on the lightweight version. Decisions, decisions.
We had so much fun on Christmas with this backdrop and the accessories. We had an ugly Christmas sweater dinner and we took so many photos using this. It was like an ongoing photo session. The back drop is very sturdy and was put up for the next holiday season. I used a hot glue gun to attach the sticks to the props rather than using the tape strips that were included.
Discount Outdoor Wedding PhotographyDiscount Children's Photography BackdropDiscount Sparkle Photography BackgroundDiscount Background For Kids PhotographyDiscount Forest Photography BackdropChina Photography Music SuppliersChina Vinyl Photography Backdrop Wood SuppliersChina Background For Kids Photography SuppliersChina Wall Photography SuppliersChina Sparkle Photography Background Suppliers
One of the main questions are customers ask us is "what is the difference between continuous and strobe lighting?" Continuous lighting uses a constant light source to light your subject, meaning that your lights will stay on during the entirety of your photo shoot. Continuous lighting is recommended for beginners. Strobe lighting uses a flash of light at the moment your camera shutter opens to illuminate your subject. Many professionals use this type of lighting because it offers more control of the light.
The most simple way to hang a backdrop is by using wall hooks. This solution is suitable for people using smaller and lighter backdrops. 5 x 7-foot X-Drop Backdrops and 3.5 x 3.5-foot backdrops feature built-in grommets for use with hooks. While you can install these into your wall, we recommend picking up a pack of removable wall hooks to protect your walls. They are usually under $10 USD per pack.
Once I got the equipment out of the box, the entire kit took about 20-30 minutes to set up and break down. I'm expecting it'll be quicker once I've gotten used to it, but the kit's otherwise simple enough to handle. The backdrops are rather thin, but enough for my current needs. I'll need to be more aware of what's behind the muslin, and the sheets can be easily replaced by thicker material when necessary. The metal supports on the umbrellas are enough to keep the things open, but aren't very tolerant of, say, a klutz who knocks the stand over while setting up. (Nothing's broken, and everything's still useful, but... yeah, that bend wasn't there in the umbrella before.) The bag is sturdy enough for lugging things around, but it isn't padded - I've been using the muslins for that purpose. I'm keeping all the equipment boxes and plastic baggies to make sure things stay tidy, but if you wanted to, you could cut it down to just the containers for the light bulbs. Overall, pretty chuffed with this kit.
Last is the Julius Studio, which is another crossbar set up that spans up to 10 ft. Like the others, this one also comes with a carry bag and the necessary clamps for securing your backdrop of choice. Also, like the others, this one is made of lightweight tubing that makes it easy to carry. Lastly, while users said this was easy to set up and use, they recommend using sandbags or some other type of weight to keep the system secure due to the light weight of the tubing.
Discount Outdoor Wedding PhotographyDiscount Children's Photography BackdropDiscount Sparkle Photography BackgroundDiscount Background For Kids PhotographyDiscount Forest Photography BackdropChina Photography Music SuppliersChina Vinyl Photography Backdrop Wood SuppliersChina Background For Kids Photography SuppliersChina Wall Photography SuppliersChina Sparkle Photography Background Suppliers
SquareTrade Protection Plans are only valid for new or Amazon certified refurbished products purchased at Amazon in the last 30 days. By purchasing this Protection Plan you agree to the Protection Plan Terms & Conditions (http://www.squaretrade.com/terms-standard). Your Protection Plan Terms & Conditions will be delivered via email within 24 hours of purchase
Position these lights to point at the backdrop and use manual settings to achieve the "blown out highlights" effect. Make sure the light reading is at least 3 stops higher than the light on your subject. Light bounced off the blown-out background will also create a back-lighting effect on your subject, the degree of back-lighting depends on the angle at which background light are pointed at the background.
Create the ideal setting for your photo shoots with photo backdrops and backdrop equipment. To accommodate a variety of client needs, consider stocking up on a selection of solid color and printed photo backdrops. Whether you own a collection of seamless background paper or you're just starting out in the business, you can choose from numerous designs and accessories suitable for headshots, family portraits, and product photography.


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Key Features
- Detached dormer bungalow
- Good sized plot. Gardens
- Views to the lighthouse & over village green
- Three good sized bedrooms
- Two bathrooms. Sun room
- Garage, carport and driveway
- Generous accommodation
Full description
LOCATION The property is located on Mereside which is in close to the village centre, St Oswald's Church, shops and all amenities. There are fantastic walks to the lighthouse, cliffs and caves.
The village is steeped in the history of smugglers, caves and cliffs. The headland itself is noted by its white lighthouse and old octagonal stone lighthouse, a superb golf course and thriving village centre supported by a good array of local shops, facilities and amenities. The village attracts a substantial number of seasonal visitors wishing to explore the Northeast Yorkshire Coast.
ACCOMMODATION The Highlands is a meticulously presented detached dormer bungalow, situated on an elevated plot overlooking the village green and with views up to Flamborough Head.
The property briefly comprises entrance hall, kitchen, utility room, lounge, snug/dining room, rear hall, three bedrooms, two bathrooms, office studio and outside it has a generous block paved driveway with parking for many vehicles, car port, garage and outside store. Gas central heating and uPVC double glazing are installed throughout.
Viewing is highly recommended.
ENTRANCE HALL 12' 9" x 6' 11" (3.89m x 2.11m) With uPVC glazed door into, vinyl flooring, radiator and thermostat.
LOUNGE 19' 2" x 12' 5" (5.84m x 3.78m) With feature gas fire stove, TV point, radiator, bay window to front elevation and glazed door into.
SNUG/DINING ROOM 14' 6" x 12' 5" (4.42m x 3.78m) With bay window to front elevation, radiator, brick fire surround and hearth.
KITCHEN 13' 5" x 12' 5" (4.09m x 3.78m) With a modern range of wall, base and drawer units, large storage unit, worktop over, stainless steel sink with mixer tap, tiled splashbacks, built in dishwasher, fridge, electric oven and hob and extractor fan. Heated ladder radiator, ceiling spotlighting, laminate flooring, window to side elevation, electric meter cupboard and door to utility.
UTILITY ROOM 11' 1" x 10' 11" (3.38m x 3.33m) With a modern range of base units, round stainless steel sink and mixer tap, tiled splashbacks, laminate flooring, heated ladder radiator, built in freezer, space for tumble dryer and washer, windows to side and rear and French doors to garden.
BATHROOM 8' 5" x 8' 1" (2.57m x 2.46m) A modern white suite incorporating panel bath with electric 'Mira' shower over and glass shower screen, wall mounted hand basin, low level WC, mirrored cabinet, window to rear elevation, tiled walls and radiator.
REAR HALL 11' 11" x 10' 11" (3.63m x 3.33m) With under stairs storage cupboard, radiator, stairs leading to first floor and window to rear elevation.
BEDROOM 1 14' 6" x 14' 0" (4.42m x 4.27m) With bay window to front elevation and radiator.
BEDROOM 2 14' 1" x 9' 3" (4.29m x 2.82m) With radiator, window to side elevation, TV point and a range of fitted furniture, cupboards and drawers.
FIRST FLOOR LANDING With velux window to rear elevation.
BEDROOM 3 11' 9" x 11' 5" (3.58m x 3.48m) With radiator, two velux windows, storage to the eaves, ceiling spotlighting and TV point.
BATHROOM 9' 6" x 5' 1" (2.9m x 1.55m) A white suite incorporating pedestal wash hand basin, low level WC, corner bath, part tiled surrounds, heated towel ladder, extractor fan, vinyl flooring and velux window to front elevation.
OFFICE/STUDIO/BEDROOM 4 13' 7" x 11' 0" (4.14m x 3.35m) With eaves storage, three velux windows, storage cupboard housing wall mounted 'Worcester' gas central heating boiler, radiator, TV point and ceiling spotlighting.
OUTSIDE STORE/GARDEN ROOM 15' 3" x 8' 11" (4.65m x 2.72m) With radiator, low level WC, wash hand basin, electric 'Gainsborough' shower, vinyl flooring, window to garden. Access from the patio at the rear. This room could be used for a variety of purposes i.e somebody working from home/gym/store.
GARAGE 17' 10" x 9' 5" (5.44m x 2.87m) A concrete sectional garage with up and over door to the front and power and light connected.
OUTSIDE The property is accessed via ornate wrought iron double gates onto a large block paved driveway with parking for many vehicles. To the front there is a slightly elevated lawned area, shrubs, plants and colourful borders, outside lighting, two outside taps and is fenced and secure to all sides. The property also has the benefit of a car port which is of uPVC construction with a Perspex roof and measures 25'10" x 10'4".
To the rear is a block paved and enclosed low maintenance garden with a seating area, raised border, colourful plants, shrubs, climbers and a side gated access.
TENURE Freehold.
SERVICES All mains services connected.
NOTE Heating systems and other services have not been checked.
All measurements are provided for guidance only.
None of the statements contained in these particulars as to this property are to be relied upon as statements or representations of fact.
Floor plans are for illustrative purposes only.
COUNCIL TAX BAND Band D.
ENERGY PERFORMANCE CERTIFICATE Rating C.
VIEWING Strictly by appointment (01262) 401401 or email@example.com
Regulated by RICS
|Energy Performance Certificates (EPCs) Download EPC for this property


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Showing Photo About Landscaping Birmingham – Low Voltage Outdoor Lighting for Low Voltage Outdoor Lighting
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Ceiling Fan, Pool.
Central Air Conditioning, Cook Top Range, Dishwasher, Intercom, Microwave Oven, Oven, Refrigerator.
Network/Internet Wired, Trash Compactor.
Carpet, Tile.
Driveway, Garage, Open.
This spectacular Toll Brother's view estate overlooks the coast of Orange County from a one-sided street hillside above Yorba Linda. The terraced flagstone entry leads to a dramatic foyer. Custom touches include tile flooring, crown moldings, trey ceilings, and custom window shutters. A gourmet kitchen opens to a spacious family room and features cherry cabinets, granite counters, Monogram stainless steel appliances, breakfast bar, and large center island. Elegant master suite boasts a sitting room, private balcony, and a tranquil master bathroom with jetted tub, walk-in closet, separate his/her vanities, and a walk-in granite shower. Outdoors you will find an entertainer's paradise. Showcasing a beautiful custom stone fireplace, the slate terraces patio features a bar complete with built-in barbeque, 2 gas burners, and refrigerator.
|Placentia-Yorba Linda Unified School District
|LAKEVI Elementary , ELDOR High , Junior High , YORLIN Middle School
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Your Guide To OBDs
Take Your Audi Engine To The Next Level
What Makes These BMW's Sound So Good?
Why Does My Car's AC Smell Bad When I turn It On?
Engine Maintenance: Get Those Belts Checked
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James D. von Maur
Melody Wright
Chief Operating Officer
Charles R. von Maur
Richard B. von Maur
I have been working at Von Maur for 4yrs, and have had 6 DM's. I have applied for the position but was told no. So now that the New DM has been demoted because of his attitude. Why do he get to remain in the women shoes dept as a sales associate, the last DM that was demoted was moved to men clothing.
I have been trying to reach the store in Ft. Wayne, Indiana. Their phone system for customers calling in has been broken for months. I have reported it to them in person at the Fort Wayne location with no success. They have had others report this problem to them also. Why will you not do something about the phone system? You have lost sales from me and some of my friends.
I need to return a phone call to them today. 260-672-97640 (my number). They are holding something for me and I must answer them today 8 22 2018.
My wife was wrongfully let go from your store in Glenview, IL just the other day. I would love to talk to someone from corporate to go over this and help me understand why it happened. We are both very upset that this happened. She was a floor manager, and was very good at her job. She did not deserve this. Please get back to me, anyone!
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factors of production namely, land, labour, capital and entrepreneur. The output
emerging from production is distributed in the form of money income i.e. rent,
wages, interest and profit, on the basis of contribution of each individual factor of
production. The economy needs to decide the best suitable mechanism for
distribution - to reduce inequality of income, to reduce poverty , to add to the
social welfare and standard of living of people.
Marginal opportunity cost - The amount of other good which has been given up
(scarified) in order to produce an additional unit of a good is called marginal
opportunity cost.
Economy is a system in which and by which people get their living. In other
words it's a framework within which all the economic activities of a country take
Commodity A
Characteristics of PPC-
i) PPC is downward sloping- PPC assume that all the resources in the economy
are fully and efficiently utilized so in order to increase the production of one
good economy has to decrease the production of other good. Thus it is
downward sloping.
ii) PPC is concave to origin –PPC is concave to origin because of increasing
Marginal rate of transformation (MRT) / Marginal opportunity cost (MOC).
Marginal rate of transformation (MRT) increases because it assumes that all the
resources are not equally efficient to produce all the goods. Therefore, as
resources are transferred from one good to another good, less and less efficient
resources are transferred it increases the cost and MRT.
10.What do you mean by Utility? Briefly explain the concept of Total utility,
Marginal Utility and Average Utility with the help of an examples.
Ans: - Utility - The want satisfying power of a commodity is called utility.
Average Utility- It is the utility per unit of a commodity consumed which can be
obtained by dividing total utility by number of units of commodity consumed.
E.g.- Suppose by consuming 10 units of a commodity total amount of satisfaction
derive is 50. Then AU will be as follows-
In above table and diagram, when consumer will purchase 3 units of commodity X
he will reach an equilibrium position because the condition of consumer's
equilibrium MUX (in ) = PX is satisfied. At this level of consumption, the
marginal utility of X is equal to the price of commodity X i.e. 4.
If he purchases less than 3 units say 2 units then the marginal utility derived from
2 units is 6 and the price which he pays is 4.Since his MUX > PX .Therefore he
will purchase more quantity of commodity X and vice versa.
Hence consumer will be in equilibrium only at that point where MUX = PX.
16. Briefly explain the concept of Budget Set. Write the equation of budget
Ans: - Budget Set- It refers to all the bundles or set of bundles available to the
consumer with given price and given income.
In other words, it is the collection of all the bundles that consumer can purchase
with his given income at the prevailing market prices.
Budget constraint- It shows that a consumer can choose any bundle as long as it
costs less or equal to income.
X1 be the amount of good 1. X2 be the amount of good 2.
P1 be the price of good 1. P2 be the price of good 2.
P1X1 = Total money spent on good 1 P1X2 = Total money spent on good 2
M is total income
Thus P1X1 + P2X2 ≤ M will be the equation of budget set.
17. Define Budget line. Give the formula for calculating the slope of the
budget line. Briefly explain the factors that cause changes in the Budget line.
Ans: - Budget line - It's a line which shows various combinations of two goods
which a consumer can purchase with his given income and given prices of the
The equation of budget line is P1X1 + P2X2 = M
We can derive budget line with help of an example as under-
Suppose consumer income is 20 and price of good X is 4 and price of good Y is
2. Then the different combinations of two goods which consumer will be able to
purchase by spending his entire income will be as follows-
The budget line has negative slope or it is downward sloping which indicates that
the consumer can purchase extra units of one commodity only by sacrificing some
units of other good
Changes in the Budget line - The factors which cause change in budget line are-
a) Change in consumer Income - If consumer income increases, then he can
purchase more quantities of both the goods. Therefore, budget line of consumer
shifts rightward and vice versa.
19. What do you mean by demand and Market Demand? Explain the
determinants of demand for a commodity.
Ans: - Demand - The quantity of a commodity which a consumer wish to
purchase at given price and given period of time is called demand.
Market demand- The quantity of a commodity which all the consumers in the
market wish to purchase at a given price and given period of time is called market
Determinants of demand- The main determinants of demand for a commodity
are as follows-
i) Price of the commodity- When the price of a commodity increases the demand
for that commodity decreases and vice versa. It means there is inverse relationship
between price of commodity and quantity demanded.
ii) Income of the consumer - The income of consumer affects the demand of
commodity as follows-
The demand for normal goods tends to increase with increase in consumer income
and vice-versa. On the other hand, the demand for inferior goods tends to decrease
with increase in consumer income and vice-versa.
iii) Taste and preferences- When taste and preferences are in favour of the
commodity demand for commodity increases and vice versa.
20. Explain the law of demand with the help of a demand schedule and
demand curve.
Ans: - Law of demand- This law states that other things remain constant a
consumer purchases more quantity of a commodity at lesser price and less quantity
at higher prices. It means there is inverse relationship between price of commodity
and quantity demanded.
Assumptions of law of demand - (Other things remain constant)
No change in consumer's income.
No change in prices of other related goods.
No change in taste and fashion.
No change in future expectation regarding change in price of commodity
Explanation of law-
We can explain it with the help of following schedule and diagram:
The above schedule and diagram show that as price falls quantity demanded rises.
Hence prove the law of demand.
Substitute goods are those goods, which can be used in place of each other. E.g.
coffee and tea. An increase in the price of a substitute good (Coffee) causes an
increase in the demand for the commodity (Tea). This will cause rightward shift of
demand curve and vice versa.
Complementary goods are those goods, which are used with each other. E.g. car
and petrol etc. In case of complementary goods, the demand for a commodity
raises with the fall in the price of other commodity. If the price of the car falls its
demand will rise, then the demand for petrol will also rise. This will cause a
rightward shift of demand curve of given commodity and vice versa.
Price D Price D
Rise in price of Fall in price of
D2 substitute good D2 complementary good
Fall in price of
Rise in price of
su bstitute good D1 D1
D good D
Demand Demand
Demand curves are of two types - individual demand curve and Market demand
curve. The market demand curve can be obtained by horizontal summation of
individual demand curves.
Slope of the Demand Curve - The slope of the demand curve equals to the
change in price divided by the change in quantity. It is because the slope of a curve
is defined as the change in the variable on the Y-axis divided by the change in the
variable on the X-axis.
a) Difference between change in demand and change in quantity demanded
Movement along a demand curve Shift of demand curve
i Other things remain constant, if Keeping price constant, if demand of
demand for a commodity changes the commodity changes due to
(rises or falls) due to change in its change in some other factors, such as
price, is called. As in this case due change in consumer income, change
to change (rises or falls) in price of in prices of substitute goods etc. is
commodity, a consumer moves called change in demand. As in this
leftward or rightward on same case consumer shifts on a new
demand curve so it is also called demand curve so it is also called
movement along a demand curve. movement along a demand curve
ii The main cause is change in price The main causes are- change in
of commodity. consumer income, change in prices
of substitute goods, change in taste
and preferences etc.
iii Demand Schedule - Demand Schedule -
Price Demand Price Demand
( ) (Units) ( ) (Units)
3 10 2 10
2 20 2 20
1 30 2 30
24.What do you mean by increase in demand? Name any five factors that
shift the demand curve to the right.
Ans:- Increase in demand - Keeping price constant, if demand of a commodity
increases due to some other factors affecting demand, such as increase in
consumer income for normal goods, decrease in price of complementary good,
change in taste and fashion in favour of a commodity etc. is called increase in
In this case a consumer shifts rightward on a new demand curve so also called
rightward shift of demand curve.
We can express it with the help of schedule and diagram as under-
Price Demand
( ) (Units)
5 100
5 200
The Factors those shift the demand curve to the right or responsible for increases
in demand are -
Increase in income of consumer in case of normal good.
Rise in price of substitute goods.
Fall in price of complementary goods.
Favorable change in taste etc.
Future expectation to increase the price of commodity.
25. Define price elasticity of demand. Briefly explain the factors affecting
price elasticity of demand.
Ans: - Price elasticity of demand – It measures the degree of responsiveness of
the quantity demanded of a good to a change in its price.
Initial price = P Final price = P1
Initial quantity = Q Final quantity = Q1
Change in quantity (ΔQ) = Final quantity - Initial quantity
Change in price (ΔP) = Final price - Initial price
= ()
Ed ()
Δp Q
Price elasticity of demand has negative sign as it shows inverse relationship
between price and quantity demanded. Elasticity of demand has no unit as it's a
Factors affecting Price Elasticity of demand
i) Number of Substitutes - A commodity will have elastic demand if there are
more number of substitutes available. E.g.- Pepsi, Coca-Cola, and Frooti etc. A
commodity having less number of substitutes, such as salt will have inelastic
ii) Nature of the Commodity- Generally, the demand for necessities is inelastic
(less elastic) and demand for luxuries is elastic (more elastic). This is so because
certain goods which are essential to life will be demanded at any price, whereas
goods meant for luxuries can be disposed off easily if they appear.
iii) Different uses of commodity- If the commodity has different uses its demand
will be elastic.
iv) Habits- Commodities in habit of the consumers have less price elasticity.
v) Level of income - If consumer belongs to richer section then his demand will
not be affected by change in price, hence demand will be inelastic.
% change in demand
% change in price
ii) Unitary elastic demand(Ed =1) - When percentage change in demand of a
commodity is equal to the percentage change in its price, such demand is called
unitary elastic demand.
Suppose due to 5% increase in price of a commodity, demand of commodity
decreases by 5% then elasticity of demand will be equal to 1.
% change in demand
% change in price
iii) Less than unitary elastic demand(Ed< 1) - When percentage change in
demand of a commodity is less than the percentage change in its price, such
demand is called less than unitary elastic demand.
Suppose due to 5% increase in price of a commodity, demand of commodity
decreases by 4% then elasticity of demand will be equal to 1.
% change in demand
% change in price
28. Define MPP and APP. Is it possible MPP decrease but APP increase?
Give reasons to support your answer.
Ans : - Marginal Product: The change in total product by employing an
additional unit of a variable factor is called marginal product. It can be obtained by
two ways:
MPP = TPPn - TPPn-1
E.g. Suppose by employing 10 units of variable factor 50 units of a good are
produced and by employing 11 units, total 54 units are produced .Then MPP will
be as follows-
MPP = TPPn - TPPn-1
= 54 - 50
= 4 units
Average Product: It is the product per unit of a variable factor. This can be
obtained by dividing total physical product by number of units of variable factor
Yes, it's possible MPP decrease but APP increase. It happens only when MPP
is decreasing but more than APP.
In above diagram shaded areas shows that MPP decreasing but APP increasing as
Ans: - Law of variable proportion or returns to variable factor - This law state
that keeping other factors of production constant, when only one variable factor is
increased, in the beginning total physical product increases at an increasing rate,
then increases at a decreasing rate and ultimately decline.
Explanation: The law of variable proportion can be explained with the help of a
schedule and a diagram as follows.
1 2 20 30
1 3 30 60
1 4 20 80
1 5 10 90
1 6 0 90
31. What do you mean by Total Fixed Cost (TFC), Total Variable Cost (TVC)
and Total Cost (TC) of a firm? How they are related?
Ans – Total Fixed Cost (TFC):- The total amount of money spends on fixed
factors of production is called fixed cost.
It can be obtained by subtracting, total variable cost from total cost
Total Variable Cost (TVC):- The total amount of money spends on variable
factors of production is called total variable cost.
It can be obtained by subtracting, total fixed cost from total cost
Total (TC):- The total amount of money spends on all the factors (fixed and
variable) of production is called total cost.
It can be obtained by summing up, total fixed cost and total variable cost
33. Why does the difference between Average Total Cost (ATC) and Average
Variable Cost (AVC) decrease with increase in the level of output? Can these
two be equal at some level of output? Explain.
Ans :- Average cost is the sum of average fixed cost and average variable cost.
So, ATC - AVC = AFC
This shows that difference between ATC and AVC is equal to AFC.
AFC is obtained by dividing total fixed cost by output, i.e. AFC TFC
And total fixed cost (TFC) is constant.
Therefore, with the increase in the level of output, AFC falls.
Thus, the difference between ATC and AVC decreases with increase in output.
No, ATC and AVC cannot be equal at any level of output as gap between them i.e.
AFC can never be zero because TFC is constant and positive.
34. Define Average cost and Marginal cost. Briefly explain the relationship
between average cost and marginal cost?
Ans: - Average Cost: It is the "cost per unit" of output produced. This can be
obtained by dividing total costs (TC) by the units of output (Q).
Marginal Cost: - It is the change in total costs resulting from a unit increase in
MC = TCn –TCn-1
Relationship between marginal cost and average cost
(i)When marginal cost is less than average cost,
average cost falls. Y
(ii) When marginal cost is equal to average cost, AC
average cost is minimum.
(iii) When marginal cost is greater than average
cost, average cost rises. X
35. Define Total Revenue, Average Revenue and Marginal Revenue with the
help of examples. Explain the relationship between total revenue and
marginal revenue with diagram.
Ans: - Total Revenue: The total amount of money which a seller receives by
selling given units of a commodity is called total revenue.
It can be obtained by two ways:
By summing up the marginal revenue receive by selling different units of
commodity. TR = MR1+ MR2 + MR3 + MR4…… + MRn = ΣMR
By multiplying average revenue (price) by number of units of commodity
sold. TR = AR (P) × Q
E.g. suppose by selling 10 units of a commodity money received by seller is
50.Then his total revenue is 50.
Average Revenue: It is the revenue per unit of a commodity sold. This can be
obtained by dividing total revenue by number of units of commodity sold.
E.g. suppose by selling 10 units of a commodity money received by seller is 50.
Then AR will be as follows-
= 5
In above diagram AR/MR line shows average revenue –marginal revenue curve.
(i) MR=MC,
P AR/MR firm produces less than OQ2 then profit are not
maximise. On the other hand, if firm produces more
38. Define Supply and Market Supply. Explain any four determinants of
supply of a commodity.
Ans: - Supply- The quantity of a commodity that the producer is willing to sell at
a given price during a given period of time is called supply.
Market Supply -The quantity of a commodity which all the sellers in the market
wish to sale at a given price and given period of time is called market supply.
iii) Change in input price - If the price of factor inputs decreases it decreases the
cost of production and increase the production & supply of good. The supply curve
shifts to the right and vice versa.
iv) Change in the excise tax rate - If the excise duty decreases, it decreases the
production cost and increases the production & supply of good. The supply curve
shifts to the right and vice versa.
a) Supply Schedule:-Supply schedule is a table which shows various quantities
of a commodity which a seller wishes to sale at different alternative prices in a
given period of time.
Supply schedule is of two types:-
Individual supply schedule –It's a table which shows various quantities of a
commodity which an individual seller wishes to sale at different alternative
prices in a given period of time.
We can show it as follows-
c) Slope of supply curve- The slope of the supply curve equals to the change in
price divided by the change in quantity supplied. It is because the slope of a
curve is defined as the change in the variable on the Y-axis divided by the
change in the variable on the X-axis.
ΔY Change in price
Slope of supply curve
Δ X Change in quantity supplied
40.Distinguish between
a) Extension of supply and Contraction of supply
b) Change in supply' and 'Change in quantity supplied' of a commodity.
a) Difference between Extension of supply and Contraction of supply
No Extension of Supply Contraction of Supply
i Other things remain constant, if Other things remain constant, if
supply of commodity increases due to supply of commodity decrease due to
increase in its price, is called decrease in its price, is called
extension of supply. contraction of supply.
ii The main cause is increase in price of The main cause is decrease in price of
commodity. commodity.
iii It results rightward movement along a It results leftward movement along a
supply curve. supply curve.
iv Supply Schedule - Supply Schedule -
Price Supply Price Supply
( ) (Units) ( ) (Units)
5 100 10 200
10 200 5 100
v Supply curve- Supply curve-
10 100 5 100
10 200 10 200
Supply Supply
vi) Less than unitary elastic supply (Es< 1):- When percentage change in supply
of a commodity is less than the percentage change in its price, such supply is
called less than unitary elastic supply.
42. What do you mean by perfect competition? State its main features?
Ans :- Perfect competition is a market where there are large numbers of buyers
and sellers and sellers sell homogeneous commodity at uniform price.
Under Perfect Competition a firm is only price taker.
Main features of perfect competition are as under -
(i) Large number of buyers and sellers - Under perfect competition buyers and
sellers are in such a large number so that neither a single buyer nor a single seller
can influence the market. It is because each seller sells a very small portion of the
market supply, similarly the demand of each buyer is also very small in the
(ii) Homogeneous product - The product sold in the market is homogeneous or
identical in all respect i.e. shape, size, colour, composition, etc.
(iii) Free entry and exit of firms - Under perfect competition there are no barrier
to entry and exit of firms in industry. But entry and exit may take time so it
happens only in long runs.
(iv)Perfect knowledge of market- In this market all the sellers as well as buyers
have the complete information about the market situation. It means they are well
aware about the product and its price.
(v) Perfect mobility – The factors of production i.e. land, labour, capital and
entrepreneur are perfectly mobile. There is no geographical and occupational
restriction on their movement. It means factors of production are free to move
from one place to another place and one job to another job in which they get better
Free entry and exit of firms under perfect competition - It means that there is
no barrier for entry and exit of firms in the industry. This freedom ensures that
firms earn just the normal profits in the long run.
If the existing firms earn above-normal profits, new firms enter in the industry,
raise supply, which brings down the price. The profits fall till each firm is once
again earning only the normal profits.
If the existing firms are having losses, the firms start leaving, supply falls and
price goes up. The price continues to rise till the losses are wiped out and firms are
just earning normal profits.
In this case the buyers will not be able to buy all what they want to buy. The
pressure of excess demand will push the market price up. This will have two
effects - Extension of supply and contraction of demand. The tendency of supply
going up and demand going down will continue till market demand and supply
become equal. This is achieved at price 3 per unit where equilibrium is restored
and vice versa.
In the diagram, demand and supply of good
Y D1 are equal at point E. So E is equilibrium
Price D
S point. At this point OP is equilibrium price
and OQ is equilibrium quantity. When
E1 demand increases, demand curve shifts to
E F right i.e. D1 D1, then at OP price there is EF
excess demand. This results competition
among buyers which will raise the price. At
a higher price, quantity demanded will fall
S D and quantity supplied will increase, resulting
O X in upward movement along new demand
Q Q1 Q2 Quantity
curve and given supply curve.
This reduces the gap between quantity demanded and quantity supplied. These
changes will continue till we reach the new equilibrium point E1 where quantity
demanded is equal to quantity supplied.
Now OP1 is new equilibrium price. Since new equilibrium price [OP1] is higher
than the old equilibrium price [OP] which shows that equilibrium price has
In diagram, demand and supply of good
S are equal at point E. So E is equilibrium
S point. At this point OP is equilibrium
E E 2 price and OQ is equilibrium quantity.
E 1 When supply increases new supply curve
S1S1 shifts to right, it shows that at OP
price, there is EE2 excess supply. This
Q Q Q Quantity
excess supply results competition among
II) Control Price (Price Ceiling):- When government fixes price of a product at a
level lower than the equilibrium price, the price is called control price (or price
ceiling). Ceiling means the maximum limit. Producers cannot sell their products
above this price.
Control price or ceiling price is the maximum price that can be charged for a
commodity. This is done so that necessary goods become available to common
Since control price is lower than the equilibrium price, it leads to excess demand
and short supply. Suppose, the equilibrium price of sugar in a free market is 40
per kg at which both demand and supply of sugar are equal, i.e., 50 tones. When
government fixes price at 35 per kg, the demand for sugar rises to 60 tones and
supply falls to 40 tones, this create disequilibrium.
The implication or consequence of price control can be any of the following:
a) Rationing: It is a system of distributing essential goods in limited quantities
at control prices.
b) Black market: It is a market in which controlled goods are sold unlawfully at
prices higher than the price fixed by the government.
c) Dual marketing: It is a system of having two prices for the same commodity
at the same time.
III) Support price (Floor Price):- When government fixes price of a product at a
level higher than equilibrium price, it is called support price (or floor price). Floor
means the lowest limit. Support price or floor price is the minimum price at which
Capital goods - The goods which help in production of other goods and services
and added in the capital stock of a country at the end of an accounting year are
called capital goods. It includes durable goods like car, fridge, road etc. Stock of
semi finished, finished goods and raw material are also part of it.
Flow-The economic variables that are measured during a period of time are called
flow variables. Flow is a dynamic concept. It has time dimensions. E.g. Interest
earned on bank deposits for 1 year, i.e. from 1st April 2011 to 31st March 2012.
Household Firms
Household Firms
Factor services
v) Estimation of NNPFC- Add net factor income from abroad (NFIA) to NDPFC
to get NNPFC or National Income.
NNPFC (National Income) =NDPFC + NFIA
65. Will the following factor incomes be included in domestic factor income of
India? Give reasons for your answer.
(i) Compensation of employees to the residents of Japan working in Indian
embassy in Japan.
(ii) Profits earned by a branch of foreign bank in India.
(iii) Rent received by an Indian resident from Russian embassy in India.
(iv) Profits earned by a branch of State Bank of India in England.
Ans : - (i) Yes, It will be included in domestic factor income of India because the
Indian embassy in Japan is a part of domestic territory of India.
(ii) Yes, It will be included in domestic factor income of India because the foreign
bank is located in the domestic territory of India.
(iii) No, It will not be included in domestic factor income of India because Russian
embassy in India is not a part of domestic territory of India.
(iv) No, It will not be included in domestic factor income of India because branch
of State Bank of India which is earning profit is in England which is not a part of
domestic territory of India.
66. What is meant by gross domestic product? Explain any three limitations
of gross domestic product as a measure of economic welfare.
Ans :- Gross domestic product (GDP) refers to the money value of all the
final goods and services produced with in domestic territory of a country during
a financial year inclusive of consumption of fixed capital or depreciation.
Welfare means sense of material well being among the people. This depends upon
greater availability of goods and services. So it may be concluded that higher level
of GDP is an index of greater well being of people. But this generalisation is not
correct due to some limitations.
Limitations of GDP as a measure of economic welfare-
i) Distribution of GDP- If with increase in GDP inequality of income increase,
poor become poorer while rich become richer. This may lead to decline in
welfare even though GDP has increased.
67.What do you mean by barter system? What are its main difficulties? How
money overcome the problem of barter system? Explain
Ans: - Barter System implies direct exchange of goods against goods without the
use of money. It is also called C-C economy, i.e. Commodity-for-Commodity
exchange economy. E.g. When a weaver gives cloth to the farmer in return for
getting wheat from him, it is called barter exchange.
Money has solved the problem of barter exchange in the following ways:
a) Money as a medium of exchange solves the problem of lack of double
coincidence of wants.
b) In terms of money the value of other goods can be expressed.
c) Money is of a manageable size and shape, unlike some barter standards, such
as cattle.
d) The value of money changes less where as bartered goods may lose their value
after some time.
e) In term of money future payments can be easily made as value of money
changes less.
71. What do you mean by money /credit creation? Explain the process of
Credit (deposit) creation by the commercial banks with the help of
numerical example. Also explain its Limitations.
Ans: - Money/Credit creation - The Process of multiplying the deposits by
commercial bank is called credit creation.
Money creation or deposit creation or credit creation by the bank is determine by –
(i) The amount of the initial fresh deposits and
(ii) The Legal Reserve Ratio (LRR) i.e. the minimum ratio of deposit legally
required to be kept as cash by banks.
It is assumed that all the money that goes out of bank is re-deposited in to the
Let the LRR be 20% and there is a fresh deposit of 10,000. As required, the
banks keep 20% i.e. 2,000 as cash. Suppose the bank lend the remaining 8000.
Those who borrow use this money for making payments. As assumed who receive
payments put the money back in to the bank. In this way bank receive fresh
deposit of 8,000.
The bank again keeps the 20% i.e. 1,600 as cash and lends 6,400 which is also
80% of the last deposit. The money again comes back to the banks leading to a
fresh deposit of 6,400. The money goes on in multiplying in this way, and
ultimately total money creation is 50,000.
Given the amount of fresh deposit and the LRR, the total money creation formula
Money creation Initial deposit
Money creation 10000
10000 100
= 50,000
Limitations to credit creation - There are following limitations to credit creation
by banks:
1. The total amount of cash reserves in the banking system. Larger the cash
reserves more will be the credit creation.
2. Cash reserve ratio fixed by the central bank. More is the ratio, less is the power
to create credit and vice versa.
3. Banking habits of the people of the country- It means banking transactions
through cheques, drafts, bills etc. Good banking habit results in keeping smaller
amount of cash with the banks and therefore, more can be lent. This will create
large credit.
72. Define Central bank. What are the main functions of central Bank?
Ans: - Central bank: A central bank is an apex institution of a country that
controls and regulates the monetary and financial systems of a country.
In India Reserve Bank of India (RBI) is the central bank.
Main functions of a central bank are:
i) Issue of Currency - The central bank has monopoly of issuing currency in the
country. Currency issued by it, is its monetary liability so it has to keep a reserve
in the form of gold and foreign securities. It promotes efficiency in the financial
system. Firstly, because this leads to uniformity in the issue of currency. Secondly,
because it gives Central Bank a direct control over money supply.
ii) Bankers to Government- Central bank acts as the bank of central and state
governments. It carries out all banking business of the govt. The govt. keeps its
cash balances on current a/c with the central bank. It gives loans to central
government for short period and manages the public debt of the country. It also
transfers government funds and buys and sells securities, treasury bills etc. on
behalf of the government.
iii) Bankers Bank & Supervisor- As the banker to banks the central bank holds a
part of cash reserve of banks, lends them short-term funds and provides them with
centralized clearing and remittance facilities.
The central bank supervises, regulates and controls the commercial banks. The
regulation of these banks may be related to their licensing, branch expansion,
liquidity of assets, management, merging of banks etc. The control is exercised by
periodic inspection of banks and the returns filed by them.
iv) Controller of Money Supply- The central bank of the country tries to control
the availability of credit in the market with its many tools like CRR, SLR, bank
rate, open market operation etc which are also called the instruments of Monetary
policy. Central bank regulates the money supply and credit in the best interest of
the country.
v) Lender of Last Resort- It helps the commercial banks in times of financial
difficulties. Scheduled banks can take the loans by rediscounting first class bills or
short term approved securities, whenever they do not get funds from any other
73.What is credit control? How central bank control the credit? Explain.
Ans :- Credit Control :- The Central Bank controls the money supply and credit
in the best interests of the economy. The bank does this by taking recourse to
various instruments. These are:
i) Bank Rate Policy: The bank rate is the rate at which the central bank lends
funds to banks. The effect of a change in the bank rate is to change the cost of
securing funds from the central bank.
A rise in the bank rate will increase the cost of borrowing from the central bank
then causes the commercial banks to increase the interest rates at which they lend.
This will discourage businessmen and others from taking loans. Thus reduces the
volume of credit and vice versa.
ii) Open Market Operations: The act of buying and selling of government
securities by the Central Bank from / to the public and banks is called open market
When the Central Bank buys securities from the banks and public it adds to cash
balances in the economy. If cash balances are increased in the economy there will
be more deposits with the commercial banks which raise the banks' ability to give
credit and thus increase the money supply.
When the Central Bank sells securities to the banks and public it withdraws cash
balances from the economy. If cash balances are decreased in the economy there
will be lesser deposits with the commercial banks which reduce the banks' ability
to give credit and thus decrease the money supply.
iii) Legal Reserve Ratio (LRR) – LRR is the minimum ratio of deposits which
every bank legally is required to keep as liquefied reserve. There are two
components of LLR namely CRR and SLR.
Cash Reserve Ratio (CRR): The minimum percentage of their total deposits
which is to be kept by commercial banks with the Central Bank is called Cash
Reserve Ratio.
A change in CRR affects the power of commercial bank to create the credit. An
increase in the CRR reduces the lending capacity of commercial banks to grant
loan. Then the commercial banks will increase the interest rates at which they
lend. This will then discourage businessmen and others from taking loans. Thus
reduces the volume of credit and vice versa.
Thus the CRR should be increased when credit is to be contracted and it (CRR)
should be decreased when credit is to be increased.
When this rate is raised, it encourages the commercial banks to keep their funds
with the central bank. This has the negative effect on the lending capability of the
commercial banks and vice versa.
vi) Margin Requirements: A margin is the difference between the amount of the
loan and market value of the security offered by the borrower against the loan.
If the margin imposed by the Central Bank is 20%, then the bank is allowed to
give a loan only up to 80% of the value of the security. By altering the margin
requirements, the Central Bank can alter the amount of loans made against
securities by the banks. So higher margin requirements decreases the demand for
credit and vice versa.
74.What is Aggregate Demand? What are its main components?
Ans: - Aggregate Demand is the total demand for all the final goods & services
by all the consumers in the economy during a year.
The main determinants of Aggregate demand are
i) Private final consumption demand (C) - It is the demand of household and
non-profit making institutions serving households for durable goods (T.V., Fan
etc.), semi-durable goods (clothes, shoes etc.) and non-durable goods (vegetable,
bread etc.).
ii) Government final consumption demand (G)- It is the expenditure incurred by
government on the purchase of goods and services which are needed to provide
facilities to the general public, such as, expenditure on road, school, bridge,
hospital etc. The level of government expenditure is determined by the
government policy.
iii) Private investment demand (I)- It refers to the expenditure incurred by the
private firm on the purchase of capital goods, such as plant , equipments,
buildings, machine etc. The investment is made in the economy in order to
increase the production capacity as well as to maintain the present level of
production. The rate of interest affects the investment demand inversely.
iv) Net exports (X-M) - It is the difference between exports of goods & services
and imports of goods & services during the given period of time. It refers to the
demand of foreigners for our goods & services over domestic demand for foreign
countries goods & services.
75. Define APC and APS. Derive the relationship between APC and APS.
Ans: - APC (Average Propensity to consume) is defined as the ratio of total
consumption to total income. Mathematically APC C
Where, C= Consumption, Y= Income
APS (Average Propensity to Save) is defined as the ratio of total saving to total
income. Mathematically APS S
76. Explain the concept of MPC with the help of table and diagram. Why can
the value of MPC be not greater than 1?
Ans: - MPC (Marginal Propensity to consume) is defined as the ratio of change
in consumption to change in income. Mathematically MPC ΔC Where C =
change in consumption, Y= change in income.
For example, if income increases from 200 crores to 250 crores and
consumption increases from 20 crores to 40 crores, it implies that 0.4 is the
MPC or 40% increase in the income is being consumed.
This can further be explained with the help of a table and a diagram. If income and
consumption are:
Income (Y) Consumption Marginal propensity to consume
Expenditure (C) ΔC
200 20 ---
250 40 0.4
MPC can also be explained with the given diagram.
78. Define:-
a) Psychological law of consumption
b) Ex-ante Investment
c) Ex-post investment.
d) Involuntary unemployment
e) Full employment
Ans: -
a) Psychological law of consumption: It state that as income in an economy
increases consumption also increases but less than increase in income.
b) Ex-ante Investment:- Ex-ante Investment refers to the planned or intended
investment during a particular period of time. It is planned on the basis of
future expectations. So it is imaginary (intended), in which a firm assumes
the level of investment on its own.
c) Ex-post Investment:- Ex-post Investment refers to the actual level of
investment during a particular period of time. It signifies the existing
investment of a particular time.
d) Involuntary Unemployment refers to a situation in which people are ready
to work at prevailing wage rate, but do not find work.
79. Explain the meaning of equilibrium level of income with the help of a
Ans: - The level of income and output in an economy is determined at that point
where; aggregate demand is equal to aggregate supply.
AS=Y (refers to countries national income)
At equilibrium point AD=AS.
Equilibrium can be achieved at full employment and even at under employment
situation. It may not be always at full employment condition in an economy.
We can explain it with the help of following schedule and diagram-
The above schedule shows equilibrium level of income is 300 where AD=AS
We can explain it with the help of diagram as follows-
In diagram OY is the equilibrium level of
income because at E aggregate demand is
equal to aggregate supply.
Before this equilibrium level of income and
output, when income falls to OY0, AD is
D0Y0 against AS is S0Y0. This AD > AS
indicates planned spending > planned
output then there will be more demand for
goods and services so the firms will increase
the output .Consequently, employment
,output and income will be increased till the
equilibrium level of income and output OY
is reached where AD = AS.
On the other hand, when AD < AS it means planned spending < planned output,
then there will be unsold stock of goods with the firm so the firm will reduce the
O Y Y1 Inco m e
Working of the multiplier -The working of the multiplier is based on the fact that
one person's expenditure is other person's income. When investment increases, it
increases the income consequently consumption also increases. And increase in
consumption lead to increase in income.
Symbolically: ∆I→∆Y→∆C→∆Y
83.Explain the meaning of inflationary gap with the help of diagram and also
write measures to correct it.
Ans: - Inflationary Gap- The excess of actual aggregate demand over aggregate
supply at full employment equilibrium point is called inflationary gap.
When AD > AS this lead to price rise or inflation so it's called inflationary gap.
We can show it with the help of diagram as follows.
Impacts on the Economy: - As AD < AS, producers wish to produce less. The
level of output and income will reduce.
Impacts on output - Output will reduce.
Employment - Level of employment will decrease.
Price - Price will fall
Measures to correct deflationary gap-
• Increase in government expenditure
• Decrease in taxes
• Increase in availability of credit - by decrease in bank rate, decrease in CRR &
SLR, purchase of securities by central bank, decrease in margin requirement etc.
85.Define a government budget. State any four of its main objectives.
Ans: - Government Budget - It is an annual financial statement of estimated
receipts and expenditure of the government for coming financial year.
Objectives of a Government Budget -
(i) Reallocation of resources - The Government has to reallocate resources from
less priority areas to more priority areas, to achieve its social and economic
(ii) Reduction of inequalities - Through the budget government can adopt
progressive taxation policy and spend more on requirement of the poor to reduce
the inequalities of income and wealth.
(iii) Economic growth- To promote rapid and balanced economic growth so as to
improve living standard of the people.
(iv) Economic stability- The Government tries to prevent business fluctuations
and maintain economic stability to maintain price stability and correct business
(v) Reduction of poverty and unemployment- To eradicate (reduce) mass
poverty and unemployment by creating employment opportunities and providing
maximum social benefits to the poor.
(vi) Management of public enterprises - Government undertakes commercial
activities that are of the nature of natural Monopolies, heavy manufacturing etc.,
through its public enterprises.
Corporation tax neither reduces assets nor creates any liability for the
government. So treated as a revenue receipt.
Fee of Government College neither reduces assets nor creates any liability for the
government. So treated as a revenue receipt.
Grant and aid neither reduces assets nor creates any liability for the government.
So treated as a revenue receipt.
Profits of public sector undertakings neither reduce assets nor create any
liability for the government. So treated as a revenue receipt.
87.Define tax. What is direct and indirect taxes give some examples of each.
Ans: - Tax – Tax is a legally compulsory payment imposed by the government.
Direct tax- A tax in which liability to pay tax and actual burden of the tax falls on
the same person. The burden of these taxes cannot be shifted to other person.
These taxes can be made progressive easily. Examples- income tax, corporation
tax, wealth tax, gift tax etc.
Indirect tax- A tax in which liability to pay tax is of one person but actual burden
of the tax falls on the some other person. The burden of these taxes can be shifted
to some other person. These taxes cannot be made progressive easily. These can be
made progressive by imposing more taxes on luxury items which are mainly used
by the high income group people. Examples- sales tax, excise duty, service tax,
VAT etc.
92.What are the various types of deficits in government budget? Also write
their implications.
Ans: - There are 3 types of deficits: -
Revenue Deficit- The excess of government revenue expenditure over revenue
receipts is called revenue deficit.
Revenue Deficit = Revenue Expenditure - Revenue Receipts
It implies dissavings of government.
It indicates the inability of the government to meet its regular and recurring
A high revenue deficit gives a warning signal to the government to either curtail
its expenditure or increase its revenue.
Revenue deficit is financed through capital receipts like borrowings and used to
meet the consumption expenditure of the government. It leads to inflationary
pressure in the economy.
Fiscal Deficit- The excess of total expenditure of the government over its total
receipts excluding borrowing is called fiscal deficit.
It indicates total borrowing requirements of the government. Borrowing create
problem of not only payment of interest but also repayment of loans.If it
continuously increases it means government takes more loans to repay the
previous loans. As a result country is caught in debt trap.
If government borrows from central bank, central bank issue new currency notes.
It increases money supply and generates inflationary pressure in the economy.
When government borrows from rest of the world, it raises the country's
dependence on other countries.
Primary Deficit- the excess of fiscal deficit over interest payments is called
primary deficit.
It indicates how much of the government borrowing are going to meet expenses
other than interest payments.
If it is zero, it indicates that government is only borrowing to repay the interest of
previous loans.
94. What is meant by visible and invisible items in the Balance of payments
account? Give some examples of each.
Ans: - Visible items refer to items relating to trade of material goods with other
Examples - tea, clothes, machinery etc.
Invisible items refer to items relating to trade of services with other countries and
unilateral transfers.
Examples- Transport services, Insurance and banking services etc.
95. Differentiate between Current Account and Capital Account of BOP.
Ans:- Difference between current account and capital account of BOP-
No. Current Account Capital Account
i It is the account which records It records capital transactions such as
exports and imports of goods, loan and investment between a
services and unilateral transfers. country and rest of the world.
ii Items of current account do not Items of capital account cause change
cause change in the assets and in the assets and liability status of the
liability status of the residents of a residents of a country & its
country & its government. government.
iii The main components of current The main components of capital
account are export and import of account are private capital transaction,
goods, services and unilateral official capital transaction and baking
transfers. capital transaction etc.
iv These items are also called above the These items are also called below
line items because they are recorded the line items because they are
as first items before calculating recorded after calculating surplus
surplus or deficit in BOP. or deficit in BOP.
Supply of Foreign exchange comes from - The foreigner's purchasing goods and
services (exports), the foreigners who invest in home country through joint
ventures, remittances from abroad, foreign tourists come to visit a country. There
is direct relationship between foreign exchange rate and supply of foreign
exchange. So supply curve of foreign exchange is upward sloping.
Df In diagram, Df Df is demand and Sf Sf
E is supply curve of foreign exchange
.They are equal at point E, so E is
equilibrium point. At this point OR is
Sf Df
determined as equilibrium foreign
Foreign Exchange
exchange rate.
98.When exchange rate of foreign currency rise its supply rises? Explain.
Ans: - A rise in foreign exchange rate makes home country's goods cheaper to
foreigners so they will purchase more goods and services, as a result demand for
country's goods increases in foreign market which leads to increase in country's
exports. At the same time foreigners who want to invest in home country will
invest more, more foreign tourists will come to visit home country. This brings a
greater supply of foreign exchange. Hence supply of foreign currency rises.
Indian rupee because more rupees are required now to buy one US dollar. It
occurs in Flexible Exchange Rate System
100. Differentiate between fixed exchange rate and flexible exchange rate
Ans: - Difference between fixed exchange rate and flexible exchange rate system
Fixed Exchange Rate System Flexible Exchange Rate System
i The system in which exchange rate is The system in which exchange rates
officially declared by government or are determined by the demand and
central bank of a country and only a supply forces of foreign exchange in
very small deviation from this fixed the market is called Flexible
value is possible is called Fixed Exchange Rate System.
Exchange Rate System.
ii Advantages (Merits) Advantages (Merits)
1-It ensures stability, in the exchange 1-This system does not require huge
rate which encourages international reserves of gold and international
trade. currencies.
2- It prevents speculations in foreign 2-This system does not require the
exchange market. huge back-up of international reserves
3- It helps co-ordination of so encourage the movement of capital
macroeconomics policies across across different parts of the world.
different countries of the world. 3-Deficit and surplus in BOP is
4- It implies low risk and low automatically corrected.
uncertainty of future payments so.
iii Disadvantages (Demerits) Disadvantages (Merits)
1-This system requires huge reserves 1-It encourages speculation leading to
of gold and international currencies. fluctuations in exchange rate.
2-In this system the benefits of free 2- It discourages investment and
markets are deprived. international trade.