Podcast
Questions and Answers
Haney's definition of business emphasizes which aspect?
Haney's definition of business emphasizes which aspect?
- Purely philanthropic endeavors
- Charitable contributions
- Social welfare activities
- Wealth creation and processing (correct)
What is the minimum number of parties required for a business transaction to be valid?
What is the minimum number of parties required for a business transaction to be valid?
- An unlimited number, to ensure market competition
- Three: a buyer, a seller, and a witness
- One, representing a sole proprietorship
- Two: a buyer and a seller (correct)
Which of the following best describes the 'profit motive' in business?
Which of the following best describes the 'profit motive' in business?
- A focus on community service over financial gain
- A desire to minimize sales volume
- An attempt to reduce costs regardless of sales
- The basic aim of increasing profits (correct)
Before goods and services are exchanged, what should business enterprises ensure?
Before goods and services are exchanged, what should business enterprises ensure?
Which scenario exemplifies the 'exchange of goods and services' in a business context?
Which scenario exemplifies the 'exchange of goods and services' in a business context?
In the context of business, what distinguishes consumer goods from capital goods?
In the context of business, what distinguishes consumer goods from capital goods?
For a series of dealings to be considered a business activity, what element must be present?
For a series of dealings to be considered a business activity, what element must be present?
Which of the following activities is classified as a 'non-economic' activity?
Which of the following activities is classified as a 'non-economic' activity?
What does 'distribution' encompass in the business context?
What does 'distribution' encompass in the business context?
How would categorizing converting oil seeds into edible oil with the help of man power and machine power impact a business?
How would categorizing converting oil seeds into edible oil with the help of man power and machine power impact a business?
Flashcards
Non-Economic Activities
Non-Economic Activities
Human activities performed to satisfy personal, social, religious, cultural, or sentimental requirements without monetary expectations.
Economic Activities
Economic Activities
Activities involving production, distribution, and consumption of goods and services for money or money's worth.
Business
Business
Organized efforts by individuals/groups to produce/sell goods/services for profit, satisfying societal needs.
Definition of Business (Haney)
Definition of Business (Haney)
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Definition of Business (Pride, Hughes, Kapoor)
Definition of Business (Pride, Hughes, Kapoor)
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Business Activity
Business Activity
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Two Parties
Two Parties
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Profit Motive
Profit Motive
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Production of Goods and Services
Production of Goods and Services
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Exchange of Goods and Services
Exchange of Goods and Services
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Study Notes
Teorema de Bayes (Bayes' Theorem)
- Describes the probability of an event based on prior knowledge of related conditions.
Formula
- $P(A|B) = \frac{P(B|A)P(A)}{P(B)}$
- $P(A|B)$: Posterior probability of A given B.
- $P(B|A)$: Probability of B given A.
- $P(A)$: Prior probability of A.
- $P(B)$: Prior probability of B.
Deduction of the Theorem
Diagrama de Venn (Venn Diagram)
- Illustrates a sample space where events A and B can occur.
- The overlapping area represents the probability of both A and B occurring.
Conditional Probability
-
The probability of an event occurring, given that another event has already occurred
-
$P(A|B) = \frac{P(A \cap B)}{P(B)}$
- $P(A|B)$: Conditional probability of A given B.
-
Invert the roles of A and B
-
$P(B|A) = \frac{P(A \cap B)}{P(A)}$
- $P(B|A)$: Conditional probability of B given A.
Solving for $P(A \cap B)$
- $P(A|B)P(B) = P(A \cap B) = P(B|A)P(A)$
Teorema de Bayes (Bayes' Theorem)
- $P(A|B) = \frac{P(B|A)P(A)}{P(B)}$
Complex Numbers
Imaginary number
- When squared, yields a negative result.
- $ i = \sqrt{-1} $
- $ i^2 = -1 $
Example
- $\sqrt{-9} = \sqrt{9*-1} = \sqrt{9} * \sqrt{-1} = 3i $
Complex number
- Expressed as a + bi, where a and b are real numbers, and i is the imaginary unit.
- a is the real part.
- bi is the imaginary part.
Example
- 3 + 2i
- 3 is the real part.
- 2i is the imaginary part.
Operations
Addition
- $(a + bi) + (c + di) = (a + c) + (b + d)i $
Example
- (3 + 2i) + (5 - 4i) = 8 - 2i
Subtraction
- $(a + bi) - (c + di) = (a - c) + (b - d)i $
Example
- (3 + 2i) - (5 - 4i) = -2 + 6i
Multiplication
- $ (a + bi)(c + di) = ac + adi + bci + bdi^2 $
- $ = ac + adi + bci - bd $
- $ = (ac - bd) + (ad + bc)i $
Example
- $ (3 + 2i)(5 - 4i) = 15 - 12i + 10i - 8i^2 $
- $ = 15 - 2i + 8 $
- $ = 23 - 2i $
Division
- $\frac{a + bi}{c + di} = \frac{(a + bi)(c - di)}{(c + di)(c - di)} = \frac{(ac + bd) + (bc - ad)i}{c^2 + d^2} $
Example
- $ \frac{3 + 2i}{5 - 4i} = \frac{(3 + 2i)(5 + 4i)}{(5 - 4i)(5 + 4i)} $
- $ = \frac{15 + 12i + 10i + 8i^2}{25 - 16i^2} $
- $ = \frac{7 + 22i}{41} $
- $ = \frac{7}{41} + \frac{22i}{41} $
Absolute Value
Also known as the Modulus
- $ \left| a + bi \right| = \sqrt{a^2 + b^2} $
Example
- $ \left| 3 + 4i \right| = \sqrt{3^2 + 4^2} $
- $ = \sqrt{9 + 16} $
- $ = \sqrt{25} $
- $ = 5 $
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