Production may be defined as an act of: ?->(Show Answer!)

1. Production may be defined as an act of:

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold tohelp you locate them while answering some of the questions. During the last few years, a lot of hype has been heaped on the BRICS (Brazil, Russia, India, China, and South Africa). With their large populations and rapid growth, these countries, so the argument goes, will soon become some of the largest economies in the world and, in the case of China, the largest of all by as early as 2020. But the BRICS, as well as many other emerging-market economieshave recently experienced a sharp economic slowdown. So, is the honeymoon over? Brazil’s GDP grew by only 1% last year, and may not grow by more than 2% this year, with its potential growth barely above 3%. Russia’s economy may grow by barely 2% this year, with potential growth also at around 3%, despite oil prices being around $100 a barrel. India had a couple of years of strong growth recently (11.2% in 2010 and 7.7% in 2011) but slowed to 4% in 2012. China’s economy grew by 10% a year for the last three decades, but slowed to 7.8% last year and risks a hard landing. And South Africa grew by only 2.5% last year and may not grow faster than 2% this year. Many other previously fast-growing emerging-market economies – for example, Turkey, Argentina, Poland, Hungary, and many in Central and Eastern Europe are experiencing a similar slowdown. So, what is ailing the BRICS and other emerging markets? First, most emerging-market economies were overheating in 2010-2011, with growth above potential and inflation rising and exceeding targets. Many of them thus tightened monetary policy in 2011, with consequences for growth in 2012 that have carried over into this year. Second, the idea that emerging-market economies could fully decouple from economic weakness in advanced economies was farfetched : recession in the eurozone, near-recession in the United Kingdom and Japan in 2011-2012, and slow economic growth in the United States were always likely to affect emerging market performance negatively – via trade, financial links, and investor confidence. For example, the ongoing euro zone downturn has hurt Turkey and emergingmarket economies in Central and Eastern Europe, owing to trade links. Third, most BRICS and a few other emerging markets have moved toward a variant of state capitalism. This implies a slowdown in reforms that increase the private sector’s productivity and economic share, together with a greater economic role for state-owned enterprises (and for state-owned banks in the allocation of credit and savings), as well as resource nationalism, trade protectionism, import substitution industrialization policies, and imposition of capital controls. This approach may have worked at earlier stages of development and when the global financial crisis caused private spending to fall; but it is now distorting economic activity and depressing potential growth. Indeed, China’s slowdown reflects an economic model that is, as former Premier Wen Jiabao put it, “unstable, unbalanced, uncoordinated, and unsustainable,” and that now is adversely affecting growth in emerging Asia and in commodity-exporting emerging markets from Asia to Latin America and Africa. The risk that China will experience a hard landing in the next two years may further hurt many emerging economies. Fourth, the commodity super-cycle that helped Brazil, Russia, South Africa, and many other commodity-exporting emerging markets may be over. Indeed, a boom would be difficult to sustain, given China’s slowdown, higher investment in energysaving technologies, less emphasis on capital-and resource-oriented growth models around the world, and the delayed increase in supply that high prices induced. The fifth, and most recent, factor is the US Federal Reserve’s signals that it might end its policy of quantitative easing earlier than expected, and its hints of an even tual exit from zero interest rates. both of which have caused turbulence in emerging economies’ financial markets. Even before the Fed’s signals, emergingmarket equities and commodities had underperformed this year, owing to China’s slowdown. Since then, emerging-market currencies and fixed-income securities (government and corporate bonds) have taken a hit. The era of cheap or zerointerest money that led to a wall of liquidity chasing high yields and assets equities, bonds, currencies, and commodities – in emerging markets is drawing to a close. Finally, while many emerging-market economies tend to run current-account surpluses, a growing number of them – including Turkey, South Africa, Brazil, and India – are running deficits. And these deficits are now being financed in riskier ways: more debt than equity; more short-term debt than longterm debt; more foreign-currency debt than local-currency debt; and more financing from fickle cross-border interbank flows. These countries share other weaknesses as well: excessive fiscal deficits, abovetarget inflation, and stability risk (reflected not only in the recent political turmoil in Brazil and Turkey, but also in South Africa’s labour strife and India’s political and electoral uncertainties). The need to finance the external deficit and to avoid excessive depreciation (and even higher inflation) calls for raising policy rates or keeping them on hold at high levels. But monetary tightening would weaken already-slow growth. Thus, emerging economies with large twin deficits and other macroeconomic fragilities may experience further downward pressure on their financial markets and growth rates. These factors explain why growth in most BRICS and many other emerging markets has slowed sharply. Some factors are cyclical, but others – state capitalism, the risk of a hard landing in China, the end of the commodity supercycle -are more structural. Thus, many emerging markets’ growth rates in the next decade may be lower than in the last – as may the outsize returns that investors realised from these economies’ financial assets (currencies, equities. bonds, and commodities). Of course, some of the better-managed emerging-market economies will continue to experitnce rapid growth and asset outperformance. But many of the BRICS, along with some other emerging economies, may hit a thick wall, with growth and financial markets taking a serious beating.Which of the following statement(s) is/are true as per the given information in the passage ? A. Brazil’s GDP grew by only 1% last year, and is expected to grow by approximately 2% this year. B. China’s economy grew by 10% a year for the last three decades but slowed to 7.8% last year. C. BRICS is a group of nations — Barzil, Russia, India China and South Africa.....

MCQ-> A distinction should be made between work and occupation. Work implies necessity; it is something that must be done as contributing to the means of life in general and to one.s own subsistence in particular. Occupation absorbs time and energy so long as we choose to give them; it demands constant initiative, and it is its own reward. For the average person the element of necessity in work is valuable, for he is saved the mental stress involved in devising outlets for his energy. Work has for him obvious utility, and it bring the satisfaction of tangible rewards. Where as occupation is an end in itself, and we therefore demand that it shall be agreeable, work is usually the means to other ends . ends which present themselves to the mind as sufficiently important to compensate for any disagreeableness in the means. There are forms of work, of course, which since external compulsion is reduced to a minimum, are hardly to be differentiated from occupation. The artist, the imaginative writer, the scientist, the social worker, for instance, find their pleasure in the constant spontaneous exercise o creative energy and the essential reward of their work is in the doing of it. In all work performed by a suitable agent there must be a pleasurable element, and the greater the amount of pleasure that can be associated with work, the better. But for most people the pleasure of occupation needs the addition of the necessity provided in work. It is better for them to follow a path of employment marked out for them than to have to find their own.When, therefore, we look ahead to the situation likely to be produced by the continued rapid extension of machine production, we should think not so much about providing occupation for leisure as about limiting the amount of leisure to that which can be profitably usedWe shall have to put the emphasis on the work . providing rather than the goods. providing aspect of the economic process. In the earlier and more ruthless days of capitalism the duty of the economic system to provide work was overlooked The purpose of competitive enterprise was to realize a profit. When profit ceased or was curtailed, production also ceased or was curtailed Thus the workers, who were regarded as units of labour forming part of the costs of production, were taken on when required and dismissed when not required They hardly thought of demanding work as a right. And so long as British manufacturers had their eyes mainly on the markets awaiting them abroad, they could conveniently neglect the fact that since workers are also consumers, unemployment at home means loss of trade. Moral considerations did not yet find a substitute in ordinary business prudence. The labour movements arose largely as a revolt against the conception of workers as commodities to be bought and sold without regard to their needs as human beings. In a socialist system it is assumed that they will be treated with genuine consideration, for, the making of profit not being essential, central planning will not only adjust the factors of production to the best advantage but will secure regularity of employment. But has the socialist thought about what he would do if owing to technological advance, the amount of human labour were catastrophically reduced? So far as I know, he has no plan beyond drastically lining the hours of work, and sharing out as much work as there may be. And, of course, he would grant monetary relief to those who were actually unemployed But has he considered what would be the moral effect of life imagined as possible in the highly mechanized state of future? Has he thought of the possibility of bands of unemployed and under-employed workers marching on the capital to demand not income (which they will have but work?Future, according to the passage, may find the workers
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MCQ-> Instructions: Study the following information and answer the questions that follow. The graph given below represents the Production (in Tonnes) and Sales (in Tonnes) of Company A from 2006-2011.

The table given here represents the respective ratio of the production (in tonnes) of Company A to the production (in tonnes) of Company B, and the respective ratio of the sales (in tonnes) of Company A to the sales (in tonnes) of company B.

What is the approximate percentage increase in the total production (in tonnes) from the year 2009 to the total production of Company in the year 2010?
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MCQ-> Study the following graph and answer questions that follow. The x-axis denotes the years from 1983 to 1991

A scholar observed that if the production of fertilizers in 1989 had been the same as that in 1988, then the total fertilizer production for all the given years would have been 450 million tonnes. Using this information, and knowing that the food production has been plotted on the same scale, one may say that the food production in 1983 was (approximately, in million tonnes) .
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MCQ-> Analyse the following passage and provide appropriate answers for the questions that follow: An effective way of describing what interpersonal communication is or is not, is perhaps to capture the underlying beliefs using specific game analogies. Communication as Bowling: The bowling model of message delivery is probably the most widely held view of communication. I think that’s unfortunate. This model sees the bowler as the sender, who delivers the ball, which is the message. As it rolls down the lane (the channel), clutter on the boards (noise) may deflect the ball (the message). Yet if it is aimed well, the ball strikes the passive pins (the target audience) with a predictable effect. In this one - way model of communication, the speaker (bowler) must take care to select a precisely crafted message (ball) and practice diligently to deliver it the same way every time. Of course, that makes sense only if target listeners are interchangeable, static pins waiting to be bowled over by our words - which they aren’t. This has led some observers to propose an interactive model of interpersonal communication. Communication as Ping - Pong: Unlike bowling, Ping - Pong is not a solo game. This fact alone makes it a better analogy for interpersonal communication. One party puts the conversational ball in play, and the other gets into position to receive. It takes more concentration and skill to receive than to serve because while the speaker (server) knows where the message is going, the listener (receive) doesn’t. Like a verbal or nonverbal message, the ball may appear straightforward yet have a deceptive spin. Ping - Pong is a back - and - forth game; players switch roles continuously. One moment the person holding the paddle is an initiator; the next second the same player is a responder, gauging the effectiveness of his or her shot by the way the ball comes back. The repeated adjustment essential for good play closely parallels the feedback process described in a number of interpersonal communication theories. Communication as Dumb Charades The game of charades best captures the simultaneous and collaborative nature of interpersonal communication. A charade is neither an action, like bowling a strike, nor an interaction, like a rally in Ping - Pong. It’s a transaction. Charades is a mutual game; the actual play is cooperative. One member draws a title or slogan from a batch of possibilities and then tries to act it out visually for teammates in a silent mini drama. The goal is to get at least one partner to say the exact words that are on the slip of paper. Of course, the actor is prohibited from talking out loud. Suppose you drew the saying “God helps those who help themselves.” For God you might try folding your hands and gazing upward. For helps you could act out offering a helping hand or giving a leg - up boost over a fence. By pointing at a number of real or imaginary people you may elicit a response of them, and by this point a partner may shout out, “God helps those who help themselves.” Success. Like charades, interpersonal communication is a mutual, on - going process of sending, receiving, and adapting verbal and nonverbal messages with another person to create and alter images in both of our minds. Communication between us begins when there is some overlap between two images, and is effective to the extent that overlap increases. But even if our mental pictures are congruent, communication will be partial as long as we interpret them differently. The idea that “God helps those who help themselves’ could strike one person as a hollow promise, while the other might regard it as a divine stamp of approval for hard work. Dumb Charade goes beyond the simplistic analogy of bowling and ping pong. It views interpersonal communications as a complex transaction in which overlapping messages simultaneously affect and are affected by the other person and multiple other factors.The meaning CLOSEST to ‘interchangeable’ in the ‘Communication as Bowling’ paragraph is:
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