Examples of markets in perfect competition are extremely rare. Numerous markets in the retail, service and agricultural sectors approach perfect competition best. But, in the agricultural sector, government support price programs distort the market mechanism. Not withstanding the lack of good examples, this form of market is important because of its
In the milk production segment of agriculture, farms are usuallysmall. They are especially small compared to the size of the entire market for milk. Note that the milk distributors are occasionally large, but not the productive farms.
Milk is a uniform and homogen eous product. It is not possible to make a distinction between the milk of one farm and another. The government has indeed set standards of quality, fat content and cleanliness.
A milk producer who would try to raise his/her revenues by increasing the price for milk, would find the company collecting the milk in that region unwilling to buy his/her milk any longer. One individual farmer is thus unable to affect the price of milk in the entire market.
Agricultural production can start for most crops by simply planting on a parcel of land. For instance, that is true for fruit trees and vegetables. (It is true. however, that for some products such as milk or tobacco, the government limits production because of the existing overproduction).
A single milk producer cannot possibly influence the consumption of milk at large, and needs not advertise. An association of milkproducers or a large milk distributor may, however, be in aposition to use advertisement effectively.
Nationwide, the demand for milk is likely to be downsloping, that is inversely related to price. But for a single milk producer, it is given by the price the farmer can receive: the going market price. It does not change, no matter what quantity the farmer produces. Thus demand is horizontal.
PROFIT MAXIMIZATION
A firm must seek to sell a volume of output where its total revenue exceeds its total cost by the largest amount possible; that is, its profit is the maximum.
Lets start the conversation after a long time with my First dream….
Birds were flying in the sky so high… A little bird sitting with her mother in her nest …
Mother teaching her about how to have a good flight.. but the little girl has some thing else to listen…
Mother looked at her and then looked to the angle of her eyes… Oh my …
My baby bird looking at the other nest…Listening to the gossiping birds…
Oh Lord…My baby bird…How to save her from the World…Oh Lord My baby bird…............... (cont...)
Although cocoa trees grew wild in Central America since pre-historic times, it wasn’t until around 600 AD when the Maya Indians established cocoa plantations in the Yucatan region of Mexico. The Mayans, and later the Aztecs, took the cocoa bean from the cocoa trees and processed it into a drink called “xocoatl” or “chocoatl.” This word, in the Mexican Indian language, means “foam water.” “Choco” means “foam” and “atl” means “water.” This chocolate was consumed only in the liquid form.
Chocolate was extremely important in the life of the Aztec Indians. According to Arthur W. Knapp, author of “The Cocoa And Chocolate Industry,” the Aztecs believed that chocolate was consumed by the Gods in paradise and that the cocoa seed was brought to earth as a special blessing for the people here by the God of the Air.
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chocolate baby
For the next century, chocolate became a top secret in Spain. Only monks in monasteries were allowed to process cocoa beans into chocolate because Spain wanted to keep the secret of processing chocolate from becoming known in the other European countries. This remained a secret in Spain for almost a hundred years. Finally, with the decline of Spain’s power, the secret leaked out. In 1606, an Italian traveler in Spain, Antonio Carletti, discovered the secret of chocolate and brought it to the other European nations.
In addition to Carletti’s discovery, chocolate was popularized even further by the marriage of Spanish Princess Maria Theresa and King Louis XIV in 1616. Maria Theresa gave chocolate to the French king as a wedding present, which helped popularize chocolate in France.
Because of its great expense, chocolate was considered to be a drink of only the elite class for the rest of the 17th century. As the Spanish historian Oviedo noted: "None but the rich and noble could afford to drink chocolatl as it was literally drinking money. Cocoa passed currency as money among all nations.”
By early in the 18th century, the price of chocolate had dropped so many people outside of the wealthy class could enjoy it. During this era, chocolate houses became as popular in England as coffee houses. In fact, there were chocolate houses that catered to only certain types of clientele such as politicians, gamblers, and the literati.
One interesting fact about chocolate in England was that the Quakers participated in this business very heavily. One reason was that the Quakers hoped to persuade the poor to give up drinking alcohol in favor of the healthier chocolate drink. This involvement of the Quakers in chocolate continued with their emigration to Colonial America, primarily to Pennsylvania. It was one of the descendants of those colonial Pennsylvania Quakers, Milton Hershey, who was later to become perhaps the most important name in the chocolate industry.
chocolate shoes
Quaid-e-Azam, Muhammad Ali Jinnah was born on 25th December 1876 at Vazeer Mansion Karachi, was the first of seven children of Jinnahbhai, a prosperous merchant. After being taught at home, Jinnah was sent to the Sindh Madrasasah High School in 1887. Later he attended the Mission High School, where, at the age of 16, he passed the matriculation examination of the University of Bombay. On the advice of an English friend, his father decided to send him to England to acquire business experience. Jinnah, however, had made up his mind to become a barrister. In keeping with the custom of the time, his parents arranged for an early marriage for him before he left for England.
In London he joined Lincoln's Inn, one of the legal societies that prepared students for the bar. In 1895, at the age of 19, he was called to the bar. While in London Jinnah suffered two severe bereavements--the deaths of his wife and his mother. Nevertheless, he completed his formal studies and also made a study of the British political system, frequently visiting the House of Commons. He was greatly influenced by the liberalism of William E. Gladstone, who had become prime minister for the fourth time in 1892, the year of Jinnah's arrival in London. Jinnah also took a keen interest in the affairs of India and in Indian students. When the Parsi leader Dadabhai Naoroji, a leading Indian nationalist, ran for the English Parliament, Jinnah and other Indian students worked day and night for him. Their efforts were crowned with success, and Naoroji became the first Indian to sit in the House of Commons.
It was nearly 10 years later that he turned toward active politics. A man without hobbies, his interest became divided between law and politics. Nor was he a religious zealot: he was a Muslim in a broad sense and had little to do with sects. His interest in women was also limited to Ruttenbai--the daughter of Sir Dinshaw Petit, a Bombay Parsi millionaire--whom he married over tremendous opposition from her parents and others. The marriage proved an unhappy one. It was his sister Fatima who gave him solace and company.
Jinnah first entered politics by participating in the 1906 Calcutta session of the Indian National Congress, the party that called for dominion status and later for independence for India. Four years later he was elected to the Imperial Legislative Council--the beginning of a long and distinguished parliamentary career. In Bombay he came to know, among other important Congress personalities, Gopal Krishna Gokhale, the eminent Maratha leader. Greatly influenced by these nationalist politicians, Jinnah aspired during the early part of his political life to become "a Muslim Gokhale." Admiration for British political institutions and an eagerness to raise the status of India in the international community and to develop a sense of Indian nationhood among the peoples of India were the chief elements of his politics. At that time, he still looked upon Muslim interests in the context of Indian nationalism.
But, by the beginning of the 20th century, the conviction had been growing among the Muslims that their interests demanded the preservation of their separate identity rather than amalgamation in the Indian nation that would for all practical purposes be Hindu. Largely to safeguard Muslim interests, the All-India Muslim League was founded in 1906. But Jinnah remained aloof from it. Only in 1913, when authoritatively assured that the league was as devoted as the Congress to the political emancipation of India, did Jinnah join the league. When the Indian Home Rule League was formed, he became its chief organiser in Bombay and was elected president of the Bombay branch.
Meanwhile, a new force in Indian politics had appeared in the person of Mohandas K. Gandhi. Both the Home Rule League and the Indian National Congress had come under his sway. Opposed to Gandhi's Non-co-operation Movement and his essentially Hindu approach to politics, Jinnah left both the League and the Congress in 1920. For a few years he kept himself aloof from the main political movements. He continued to be a firm believer in Hindu-Muslim unity and constitutional methods for the achievement of political ends. After his withdrawal from the Congress, he used the Muslim League platform for the propagation of his views. But during the 1920s the Muslim League, and with it Jinnah, had been overshadowed by the Congress and the religiously oriented Muslim Khilafat committee.
When the failure of the Non-co-operation Movement and the emergence of Hindu revivalist movements led to antagonism and riots between the Hindus and Muslims, the league gradually began to come into its own. Jinnah's problem during the following years was to convert the league into an enlightenedpolitical body prepared to co-operate with other organisations working for the good of India. In addition, he had to convince the Congress, as a prerequisite for political progress, of the necessity of settling the Hindu-Muslim conflict.
To bring about such a rapprochement was Jinnah's chief purpose during the late 1920s and early 1930s. He worked toward this end within the legislative assembly, at the Round Table Conferences in London (1930-32), and through his 14 points, which included proposals for a federal form of government, greater rights for minorities, one-third representation for Muslims in the central legislature, separation of the predominantly Muslim Sindh region from the rest of the Bombay province, and the introduction of reforms in the north-west Frontier Province. But he failed. His failure to bring about even minor amendments in the Nehru Committee proposals (1928) over the question of separate electorates and reservation of seats for Muslims in the legislatures frustrated him. He found himself in a peculiar position at this time; many Muslims thought that he was too nationalistic in his policy and that Muslim interests were not safe in his hands, while the Indian National Congress would not even meet the moderate Muslim demands halfway. Indeed, the Muslim League was a house divided against itself. The Punjab Muslim League repudiated Jinnah's leadership and organised itself separately. In disgust, Jinnah decided to settle in England. From 1930 to 1935 he remained in London, devoting himself to practice before the Privy Council. But when constitutional changes were in the offing, he was persuaded to return home to head a reconstituted Muslim League.
Soon preparations started for the elections under the Government of India Act of 1935. Jinnah was still thinking in terms of co-operation between the Muslim League and the Hindu Congress and with coalition governments in the provinces. But the elections of 1937 proved to be a turning point in the relations between the two organisations. The Congress obtained an absolute majority in six provinces, and the league did not do particularly well. The Congress decided not to include the league in the formation of provincial governments, and exclusive all-Congress governments were.
Muhammad Ali Jinnah, addressing a procession on 23rd March, 1940
At this point, Jinnah emerged as the leader of a renascent Muslim nation. Events began to move fast. On March 22-23, 1940, in Lahore, the league adopted a resolution to form a separate Muslim state, Pakistan. The Pakistan idea was first ridiculed and then tenaciously opposed by the Congress. But it captured the imagination of the Muslims. Pitted against Jinnah were men of the stature of Gandhi and Jawaharlal Nehru. And the British government seemed to be intent on maintaining the political unity of the Indian subcontinent. But Jinnah led his movement with such skill and tenacity that ultimately both the Congress and the British government had no option but to agree to the partitioning of India. Pakistan thus emerged as an independent state in 14th August, 1947.
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Jinnah became the first head of the new state i.e. Pakistan. He took oath as the first governor general on August 15, 1947. Faced with the serious problems of a young nation, he tackled Pakistan's problems with authority. He was not regarded as merely the governor-general; he was revered as the father of the nation. He worked hard until overpowered by age and disease in Karachi. He died on 11th September, 1948 at Karachi
source: http://brain.net.pk
Income statement, also called profit and loss statement (P&L) and Statement of Operations, is a company's financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as the "bottom line"). The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.
The important thing to remember about an income statement is that it represents a period of time. This contrasts with the balance sheet, which represents a single moment in time.
Charitable organizations that are required to publish financial statements do not produce an income statement. Instead, they produce a similar statement that reflects funding sources compared against program expenses, administrative costs, and other operating commitments.
- INCOME STATEMENT BOND LLC -
For the year ended DECEMBER 31 2007
$ $
Revenues
GROSS PROFIT (including rental income) 496,397
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Expenses:
ADVERTISING 6,300
BANK & CREDIT CARD FEES 144
BOOKKEEPING 3,350
EMPLOYEES 88,000
ENTERTAINMENT 5,550
INSURANCE 750
LEGAL & PROFESSIONAL SERVICES 1,575
LICENSES 632
PRINTING, POSTAGE & STATIONERY 320
RENT 13,000
RENTAL MORTGAGES AND FEES 74,400
UTILITIES 491
--------
TOTAL EXPENSES (194,512)
--------
NET INCOME 301,885
========
http://en.wikipedia.org
Just as the bank asked you to put together a balance sheet to evaluate your credit-worthiness, the government requires companies to put them together several times a year for their shareholders. This allows current and potential investors to get a snapshot of a company's finances. Among other things, the balance sheet will show you the value of the stuff the company owns [right down to the telephones sitting on the desk of their employees], the amount of debt, how much inventory is in the corporate warehouse, and how much money the business has to work with in the short term. It is generally the first report you want to look at when valuing a company.
Before you can analyze a balance sheet, you have to know how it is set-up.
Assets, Liabilities and Shareholder Equity
Every balance sheet is divided into three main parts - assets, liabilities, and shareholder equity.
Assets are anything that have value. Your house, car, checking account, and the antique china set your grandma gave you are all assets. Companies figure up the dollar value of everything they own and put it under the asset side of the balance sheet.
Liabilities are the opposite of assets. They are anything that costs a company money. Liabilities include monthly rent payments, utility bills, the mortgage on the building, corporate credit card debt, and any bonds the company has issued.
Shareholder equity is the difference between assets and liability; it tells you the "book value", or what is left for the stockholders after all the debt has been paid.
Every balance sheet must "balance". The total value of all assets must be equal to the combined value of the all liabilities and shareholder equity (i.e., if a lemonade stand had $10 in assets and $3 in liabilities, the shareholder equity would be $7. The assets are $10, the liabilities + shareholder equity = $10 [$3 + $7]).
Coca-Cola Company | ||
| Assets | ||
| Current Assets | Dec. 31, 2000 | Dec. 31, 1999 |
| Cash and Cash Equivalents | $1,819,000,000 | $1,611,000,000 |
| Short Term Investments | $73,000,000 | $201,000,000 |
| Receivables | $1,757,000,000 | $1,798,000,000 |
| Inventories | $1,066,000,000 | $1,076,000,000 |
| Prepaid expenses and other | $1,905,000,000 | $1,794,000,000 |
| Total Current Assets | $6,620,000,000 | $6,480,000,000 |
| | | |
| Long Term Assets | ||
| Long Term Investments | $8,129,000,000 | $8,916,000,000 |
| Property, Plant and Equipment | $4,168,000,000 | $4,267,000,000 |
| Goodwill | $1,917,000,000 | $1,960,000,000 |
| Intangible Assets | N/A | N/A |
| Accumulated Depreciation (or Amortization) | N/A | N/A |
| Other Assets | N/A | N/A |
| Deferred Long Term Asset Charges | N/A | N/A |
| Total Assets | $20,834,000,000 | $21,623,000,000 |
| Liabilities | ||
| Current Liabilities | ||
| Accounts Payable | $9,300,000,000 | $4,483,000,000 |
| Short Term Debt | $21,000,000 | $5,373,000,000 |
| Other Current Liabilities | N/A | N/A |
| Total Current Liabilities | $9,321,000,000 | $9,856,000,000 |
| Long-Term Liabilities | ||
| Long Term Debt | $835,000,000 | $854,000,000 |
| Other Liabilities | $1,004,000,000 | $902,000,000 |
| Deferred Long Term Liability Charges | $358,000,000 | $498,000,000 |
| Minority Interest | N/A | N/A |
| Total Liabilities | $11,518,000,000 | $12,110,000,000 |
| Shareholder's Equity | ||
| Misc. Stock Option Warrants | N/A | N/A |
| Redeemable Preferred | N/A | N/A |
| Preferred Stock | N/A | N/A |
| Common Stock | $870,000,000 | $867,000,000 |
| Retained Earnings | $21,265,000,000 | $20,773,000,000 |
| Treasury Stock | ($13,293,000,000) | ($13,160,000,000) |
| Capital Surplus | $3,196,000,000 | $2,584,000,000 |
| Other Stockholder Equity | ($2,722,000,000) | ($1,551,000,000) |
| Total Stock Holder Equity | $9,316,000,000 | $9,513,000,000 |
| Net Assets | $7,399,000,000 | $7,553,000,000 |
