Concepts Answers

What is selective in exploitationbase? Q & Answers A entropybase is a analytically coherent collection of info with some congenital meaning, representing some aspect of corporeal world and which is designed, built and populated with entropy for a specific purpose. 2. What is DBMS? It is a collection of programs that enables user to frame and maintain a informationbase. In new(prenominal) words it is general-purpose bundle that provides the users with the processes of defining, constructing and manipulating the database for various applications. 3. What is a infobase system?The database and DBMS softw ar together is called as informationbase system. 4. Advantages of DBMS? Redundancy is controlled. Unauthorised annoy is restricted. Providing multiple user interfaces. Enforcing unity constraints. Providing backup and rec everyplacey. 5. Disadvantage in File Processing System? Data redundancy & inconsistency. Difficult in accessing data. Data isolation. Data integrity. Conc urrent access is not realistic. Security Problems. 6. Describe the three incur aims of data abstract entity? The be three levels of abstraction Physical level The lowest level of abstraction describes how data argon stored.Logical level The next higher level of abstraction, describes what data are stored in database nd what affinityship among those data. View level The highest level of abstraction describes only part of entire database. 7. Define the integrity rules thither are twain Integrity rules. Entity Integrity States that Primary rouge shagnot puzzle NULL range denotive Integrity States that Foreign Key keep be either a NULL value or should be Primary Key value of other relation. 8. What is extension and intension? teleph peerless extension It is the number ot tuples present in a dodge at some(prenominal) instance.This is time dependent. Intension It is a constant value that gives the name, structure of table and the constraints laid n it. 9. What is System R? What are its deuce major subsystems? System R was designed and developed over a time period of 1974-79 at IBM San Jose Research Center. It is a proto causecast and its purpose was to demonstrate that it is possible to build a similarnessal System that push aside be apply in a real life environment to solve real life problems, with performance at least comparable to that of pull rounding system. Its two subsystems are Research Storage System congenerical Data System. 0. How is the data structure of System R variant from the relational structure? unalike Relational systems in System R Domains are not support Enforcement of candidate key eccentricness is optional Enforcement of entity integrity is optional Referential integrity is not enforced 11. What is Data freedom? Data license means that the application is self-sufficient of the storage structure and access outline of data. In other words, The ability to modify the schema description in one level should not tin t the schema exposition in the next higher level.Two typefaces of Data Independence Physical Data Independence Modification in physical level should not impress the rational level. Logical Data Independence Modification in logical level should affect the sketch level. NOTE Logical Data Independence is to a greater extent difficult to achieve 12. What is a pot? How it is related to data independence? A view may be thought of as a virtual table, that is, a table that does not really exist in its own right but is instead derived from one or to a greater extent underlying base table. In other words, there is no stored file that direct represents the view instead a definition of view is stored in data dictionary.Growth and restructuring of base tables is not reflected in views. Thus the view can insulate users from the effects of restructuring and growth in the database. Hence accounts for logical data independence. 3. What is Data Model? A collection of conceptual tools for descri bing data, data human relationships data semantic cs and constraints. 14. What is E-R model? This data model is establish on real world that consists of basic objects called entities and of relationship among these objects. Entities are draw in a database by a effectuate ot judges. 15. What is Object lie model? This model is based on collection of objects.An object contains value stored in instance variables with in the object. An object also contains bodies of code that ensure on the object. These bodies of code are called methods. Objects that contain ame types of values and the same methods are grouped together into classes. 16. What is an Entity? It is a thing in the real world with an independent existence. 17. What is an Entity type? It is a collection (set) of entities that have same attributes. 18. What is an Entity set? It is a collection of all entities of particular entity type in the database. 19. What is an Extension of entity type?The collections of entities of a particular entity type are grouped together into an entity set. 20. What is decrepit Entity set? An entity set may not have sufficient attributes to form a primary key, and its primary ey compromises of its partial key and primary key of its parent entity, then it is said to be Weak Entity set. 21 . What is an attribute? It is a particular property, which describes the entity. 22. What is a Relation Schema and a Relation? A relation Schema denoted by R(AI, A2, , An) is do up of the relation name R and the list of attributes Ai that it contains. A relation is delineate as a set of tuples.Let r be the relation which contains set tuples (tl, t2, t3, tn). Each tuple is an ordered list of n-values t=(v1,v2, vn). 23. What is degree of a Relation? It is the number of attribute of its relation schema. 24. What is Relationship? It is an association among two or more entities. 25. What is Relationship set? The collection (or set) of similar relationships. 26. What is Relationship type? R elationship type detlnes a set ot associations or a relationship set among a given set of entity types. 27. What is degree of Relationship type? It is the number of entity type participating.Concepts AnswersMarginal revenue is the superfluous revenue that a firm obtains by selling one more unit. Marginal court is the comprise of hiring one more unit of assiduity or the address of producing one more unit of output. Marginal revenue product is the additional revenue we obtain by hiring one more unit of labor. When we arrest a peripheral cost our hope it that is will generate marginal revenue product which fall outs the cost. Hence the marginal revenue will exceed our marginal cost. 4. Distinguish between economic and financial capital.Economic capital resources intromit all particulars that man manufactures by combining natural and unman resources like buildings, equipment, roads, and bridges. Financial capital is a dollar value claim on economic capital. Financial capital w ould include cash, deeds of trust, mortgages, loan covers, stocks, and bonds. 5. converse the value of the enterpriser. What distinguishes the entrepreneur from the labor resource? Why are entrepreneurs unique? Entrepreneurial resources consist of the bringing close togethers of individuals, who assume danger and begin argumentation enterprises.The entrepreneur combines natural, human, and capital resources to produce a good or service that we value more than the individual components. Without the entrepreneur, the other resources would not normally be combined, pretermit for subsistence (I . E. , the resources that are just sufficient to sustain life). The entrepreneur seeks to fox a profit when using his ideas. When we look at overall even offments, the mental talents of muckle in the form of the entrepreneur normally exceed the enlists that are give for labor. The owner of a professional sports team, the entrepreneur, will normally make more than any player on that te am.Of course, the more brilliant the idea and its ultimate appeal to the buyer of the good or service, he more profit that will accrue to the entrepreneur. 6. What is fortune cost? An opportunity cost is the highest value that is surrendered when a decision is made it is never the decision, which is made. It is a quantifiable term. 7. What makes up gross in source? All of the notes received from all sources during the year. This includes wages, tips, engagement gain on savings and bonds, income from rental property, profits to entrepreneurs, and any other source of income an individual may have. 8.Compare progressive, regressive, and proportional taxes. Give at least one example of each type of ax. Progressive taxes are taxes that befool a larger serving of your income as your income increases. Regressive taxes are taxes that take a higher percentage of your income as your income decreases. Proportional taxes are taxes where the percentage paid stays the same, regardless of inc ome. Examples include progressive income taxes, regressive sales taxes, and proportional property taxes. 9. What is the law of supply? The law of supply states that as the payment or price of an item increases, coteries Paramus, we will supply more of that item. 0. What is a supply table? How do you obtain supply wreathe from a supply table? A supply table is a listing of the quantities of some variable, which will be supplied at various prices in the market place place. The supply curve is obtained by horizontally summing the quantities supplied by different suppliers at each price in the market. 11. What is the law of demand? The rightfulness of Demand states that if all other factors are constant, as the price for an item decreases, people will demand more of that item, coteries Paramus. 12. Explain the concept of a surplus of bills versus a famine of money.When the supply of money salve exceeds the demand for money, here is a surplus of money then institutions ( bank buil dings, book of facts unions, savings and loans, etc. ) will pay less for savings, and care rank will begin to fall. When the demand for money exceeds the supply, there is a shortage of money and interest rates will be bid up in the market as institutions attempt to obtain more money. 13. What is the federal Reserve? What are the Feuds three tools for controlling the money supply? The federal official Reserve is the Central Bank of the United States.The three tools for controlling the money supply are the discount rate, the reserve requirements ratio, and federal open market operations. 4. What is risk? What is the difference between systematic and unsystematic risk? adventure involves the probability that the actual return on an investment will be different from the desired return. Systematic risk is that risk which is associated with economic, political, and sociological changes that affect all participants on a near equal basis. Unsystematic risk is that risk that is unique t o an individual, firm, or industry. EXERCISES AND PROBLEMS 1. exile Yogis Lounge consists of the following. Carry, the owner believed that people would come to hear a band play on Friday, Saturday, and Sunday evening. During the deviation of the week, she believed her customers would watch sporting events on several television sets located throughout the lounge. Carry employed two bartenders, three servers, two assistant servers, two cooks, one dishwasher and a clean-up person. She had a bar, 15 barstools, 4 tables, 40 chairs, 4 television Sets, and one satellite dish. She had an oven, stove, grill, refrigerator, sinks, dishes, and glassware.Carry started this business with $50,000 of her own money, and she borrowed $1 50,000 from the bank. From this description, list each of the scarce resources that are used in Carry Yogis Lounge. Entrepreneurial resource Carry Yoke. Labor resources 2 bartenders, 3 servers, 2 assistant servers, 2 cooks, 1 dishwasher, and a clean-up person. Econom ic capital resources 1 bar, 15 bar stools, 4 tables, 40 chairs, 4 television sets, one satellite dish, oven, stove, grill, refrigerator, sinks, dishes, and glassware. Financial capital resources $50,000 of her own money and $1 50,000 from the bank. . Joe unalterability has an gubbins repair business. He has more business than he can handle and wants to hire another repair person. Joe estimates that three appliances can be repaired each instant by a qualified person. Joe bills out labor at $45 per hour, but he stipulates that the minimum precaution for appliance repair estimates is $30 plus parts. What is the marginal revenue product of a qualified repair person? 3 appliance repairs per hour time $30 = $90 marginal revenue product. What is the maximum hourly wage that he would pay an employee?Therefore, since we bring in an additional $90 per hour by hiring one more repair person, the maximum wage we would pay is $90. 3. Sam Smith is currently employed as a windup(prenominal) e ngineer and is paid $65,000 per year plus benefits that are equal to 30% of his salary. Sam wants to begin a consulting rim and decides to leave his current line of products. subsequently his low year in business, Cams accountant informed him that he had made $45,000 with his consulting business. Sam also notices that he paid $6,000 for a health insurance policy policy, which was his total benefit during his first year.What was Cams opportunity cost? Sam gave up $65,000 in salary plus $19,500 in benefits roar total of $84,500. 4. Sara lee just graduated from college with a degree in accounting. She had five job offers Bean counters CPA, $35,000 Assets R us, $27,000 The Debit store, $30,000 J & Gs Spas, $33,000 and The Double Entry Shop, $40,000. What was her opportunity cost if she accepted the job with The Double Entry Shop? Sara gave up Bean counters CPA at $35,000 which was the highest value surrendered. 5. Sam Club earned $50,000 and paid taxes of $10,000.Samaritan Heart ea rned $60,000 and paid taxes of $12,000. If these taxes were paid to the same governance agency, is the tax on income progressive, regressive, or proportional? Why did you reach this finishing? As show below these taxes are proportional because they both paid the same percentage of their income in taxes. 6. You have an article in this mornings paper that stated inflation was accelerating and would reach six percent this year. If the FED believes this debate and it has set a goal of three percent inflation, what will it believably do at the next meeting of the Federal Open foodstuff Committee?They would most likely raise the discount rate, the federal funds rate, or both. They could also sell more government securities to decrease the money supply. 7. A friend came into your office and said that his bank was out to deplete small businesses. You asked him what he meant by this remark, and he said that he read an article that said his bank had just loaned $10 million to a major automobile manufacturer at a rate of 3 percent, which is less than prime. But your friend just borrowed $50,000 from the same bank and they supercharged him prime plus four percent, or 7. Percent. Your friend has been in business for two years, and last year he had a loss of $2,000. How can you explain this difference in interest rate to your friend? The bank charges interest based upon risk The probability of the automobile manufacturer defaulting on the loan is very remote therefore, they get a favorable interest rate from the bank. Since your friend lost money last year and since over 40 percent of all mall businesses fail in the first five years, the banks risk is much higher and therefore they will charge a higher interest rate.