Educational Wealth

Solved Assignment# 2 Code: 405 Iqbaliat BA aiou Spring 2021

Abdullah 0 Monday, August 30, 2021

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Solved Assignment# 2 Code: 405 Iqbaliat BA aiou Spring 2021

Solved Assignment# 2 Code: 405 Iqbaliat BA aiou Spring 2021 For All Solved Assignment...

Course: Fundamentals of Business (8402 ) Semester: Spring, 2021 Level: BBA (4 Years) / PGD

Abdullah 0 Monday, August 30, 2021

Course: Fundamentals of
Business (8402 )                                                    Semester: Spring, 2021

Level: BBA (4 Years) /
PGD                                                                                  Total Marks: 100

Pass
Marks: 50

Assignment No. 1

(Units:
1–5)

Q: 1 Discuss the
influence the government has on the profit motive.

Ans:

What Is the Profit
Motive?

The profit motive is the
intent to achieve a monetary gain in a project, transaction, or material endeavor.
Profit motive can also be construed as the underlying reason why a taxpayer or
company participates in business activities of any kind.

Simply put, the profit
motive suggests that people tend to take actions that will result in them
making money (profiting). In economic thought, Adam Smith identified the profit
motive in his book, The Wealth of Nations, as the human propensity to truck, barter,
and trade.

Government can be
efficient without a profit motive. ... Any organization; private companies,
non-profits, and governments have limited resources. These resources include;
money, manpower, and time. Government can and must be efficient, even without a
profit motive.

For example, a business
might be willing to absorb lower profits and even losses in the present to
strengthen its position and increase its market share so that it can earn
higher profits in the future.

Profit motive influence our economy

The profit motive refers
to an individual's drive to undertake activities that will yield net economic
gain. Because of the profit motive, people are induced to invent, innovate, and
take risks that they may not otherwise pursue.

Why must businesses
make a profit?

Why is Profit Important?
In most businesses profit is the reward that the owners of the business want to
achieve from taking risks and making investments. ... Profit, like the positive
cash flows that it helps create, can be seen as the lifeblood of a successful
and valuable business.

The correct answer would
be, the desire to make money through goods and services. Explanation: ...
Companies earn money through their goods and services. This is the profit
motive of the company.

In a similar vein, Factors
of production include Land and other natural resources, Labor, Factory,
Building, Machinery, Tools, Raw Materials and Enterprise

Is profit motive good
or bad?

So, yes having a profit
motive is good in business. However, if the profit motive is the only motive of
the business in all likelihood it will also eventually fail - it will generally
just take longer to happen. So a profit motive is just one motive that a
business must have.

Government have a
profit motive

Government can be efficient
without a profit motive. ... Any organization; private companies, non-profits,
and governments have limited resources. These resources include; money,
manpower, and time. Government can and must be efficient, even without a profit
motive.

What is the difference
between open opportunity and legal equality?

What best explains the
profit motive?

The correct answer would
be, The desire to make money through goods and services. Explanation: ...
Companies earn money through their goods and services. This is the profit
motive of the company.28-Apr-2019

Six Factors Affecting
Profit

Number of Production
Units. The most basic factor affecting profit in any business is the number of
production units. ...

Production per Unit. The
productivity of your land and livestock also has an impact on profit. ...

Direct Costs. ...

Value per Unit. ...

Enterprise Mix. ...

Overhead Costs.

How the Profit Motive
Works

In theory, the profit
motive helps everyone from individuals to corporations decide what to do at a
particular time. Looking at profit, or the potential for profit, simplifies
many decisions. If a company makes five different products and earns most of
its profit from just two, then the profit motive view would suggest that the
company dump the unprofitable lines and invest more in the profitable production
lines.

Similarly, a person would
want to focus on the activities or employment opportunities that offer the most
return for their efforts. For some people, this will mean the highest paying
job. For others, it may mean creating their own enterprise with hopes of a
higher income in the future.

The profitability of a
particular activity is, in theory, communicated by market signals that
ultimately are a function of supply and demand. The higher the demand (or
potential demand), the higher the profitability (or potential profitability).
When the profitability is high, more people and businesses will seek out that
activity.

Q 2: Briefly
describe a firm’s social responsibility to its community and the environment.
(20)

Social Responsibility
to the Community and the Environment

Ans: What is social
responsibility to the community?

Social responsibility is
an ethical theory in which individuals are accountable for fulfilling their
civic duty, and the actions of an individual must benefit the whole of society.
In this way, there must be a balance between economic growth and the welfare of
society and the environment.

What is social
responsibility towards environment?

Corporate Social
Responsibility (CSR) towards the natural environment is a concept of conducting
business activities—according to which the companies, in strict compliance with
law, and while still making profits—voluntarily take into consideration the
impacts of their operations on the environment in their business

Community responsibilities
area unit a personality's duties or obligations to the community and embody
cooperation, respect and participation. The thought goes on the far side
thinking and acting as people to common beliefs concerning shared interests and
life. A basic community responsibility is voting in elections.

More than a destination at
the end of the day, a community is a place people feel at home and a place
where people want to feel safe at. Community responsibilities area unit a
personality's duties or obligations to the community and embody cooperation,
respect and participation. The thought goes on the far side thinking and acting
as people to common beliefs concerning shared interests and life. A basic
community responsibility is voting in elections. Being socially accountable
means folks and organizations should behave ethically and with sensitivity
toward social, cultural, economic and environmental problems. Striving for social
responsibility helps people, organizations and governments have a positive
impact on development, business…show more content… 
Under community we tend to perceive the village, the tiny city or the
residential complicated within the massive town, where lives every one of us.
Every community lives its own life that undergoes a method of development all
the time. And each one might participate in this development in numerous ways ,
for example by taking part in cleaning of the street on which someone lives, by
collaborating in organization of an occurrence, connected with the history of
the city or the village or by rendering social services to youngsters without
parents or elderly people. The individual social responsibility additionally
might be expressed in creating donations for important for the society causes –
social, cultural or ecological. There are some ways of donating, as an example
donating of products or donating cash through a checking account or online.

The Social
responsibilities of Community responsibilities area unit a personality's duties
or obligations to the community and embody cooperation, respect and
participation. The thought goes on the far side thinking and acting as people
to common beliefs concerning shared interests and life. A basic community
responsibility is voting in elections. Operate companies are known as Corporate
Social Responsibility. It is a duty of the corporate body to protect the
interest of the society as well as the environment. We know the main motive of
business is to earn the money, corporations should take initiative for the
welfare of the society and should perform their activities within the framework
of environmental norms.

According to Lord Holmes
and Richard Watts “Corporate Social Responsibility is the continuing commitment
by business to behave ethically and contribute to economic development while
improving the quality of life of the workforce and their families as well as of
the local community and society at large.”

Corporate companies are
part of society and their business activities affect directly or indirectly to
the society. So the companies should provide goods and services legally,
efficiently and profitably to the society. It is also the newest management
strategies where companies try to create a positive impact on society while
doing business.

Most of the consumers
expect from companies to not only make a profit but also operate responsibly to
address social and environmental issues according to a study of Cone
Communications.

Why CSR Matters? For a balance of economic, environmental and social
imperatives, CSR matters. It is a type of management concept whereby companies
integrate social and environmental concerns in their business as well
addressing the expectations of shareholders and stakeholders. Environmental
sustainability impacted by corporate actions so companies have to environmental
sustainability with recycling, waste management, renewable energy or reducing
paper use act. Raising money for local charities, sponsoring local events and
supporting local economy can provide a better life to the community people.

Efforts of Corporate for
Social Responsibility

Companies have a large
carbon footprint and they are reducing those footprints with the use of new
technology or other innovations. It would consider both good for the company
and society. So the protection of the environment is the primary focus of the
corporate companies.

Ans: The U.S. government's role in the economy
can be broken down into two basic sets of functions: it attempts to promote
economic stability and growth, and it attempts to regulate and control the
economy. ... The federal government regulates and controls the economy through
numerous laws affecting economic activity.

What is government's
primary role in the economy?

Economists, however,
identify six major functions of governments in market economies. Governments
provide the legal and social framework, maintain competition, provide public
goods and services, redistribute income, correct for externalities, and
stabilize the economy.

What are the 4 roles of
government in the economy?

The government (1)
provides the legal and social framework within which the economy operates, (2)
maintains competition in the marketplace, (3) provides public goods and
services, (4) redistributes income, (5) corn- rests for externalities, and (6)
takes certain actions to stabilize the economy.

Governments supervise the
resolution of conflicting interests, the workings of the political process, the
enforcement of laws and rights, and the monitoring of national income and
international trade; they regulate economic and social relationships among
individuals and private organizations; and they carry out.

The differences in rates
of growth are often attributed to two factors: government and entrepreneurship.
The two are not mutually exclusive. In the early stages of sustained growth,
government has often provided the incentives for entrepreneurship to take hold.
In some economies the development of transportation, power, and other utilities
has been carried out by the government. In others the government has offered
financial inducements and subsidies. The land given U.S. railroad developers in
the second half of the 19th century is a notable example of the latter. Another
important role governments have played in the early stages is to help establish
the sort of capital and money markets in which lenders could have confidence.
Without financial intermediaries acting as brokers between lenders and business
borrowers, it is difficult to envisage economic growth taking place on a
sustained and rapid basis.

In the 19th century most
liberal thinkers held that the main role for government in a developed
capitalist system was that of a policeman: to preserve law and order, uphold
the sanctity of private property, and give business as much freedom as
possible. The Great Depression of the 1930s persuaded many that a laissez-faire
system did not automatically provide the necessary incentives to the innovation
and risk bearing essential for economic growth. This led to a good deal of
writing on the role that governments might play in stimulating growth.
Economists have argued that, at the very least, governments can undertake to
prevent serious and prolonged recessions. Only in this way can a general
business psychology be developed that assumes growth to be the natural course
of things, so that investment programs will pay off.

Growth theorists since World
War II have gone further, arguing that it is not enough simply to achieve full
employment periodically.

Some maintain that it is
necessary to maintain full employment over an extended period of time if high
growth is to result. This argument relates to the earlier point that two
economies may experience the same rate of growth of capital but that overall
growth and technical progress will proceed at a much more rapid rate in one
than in the other because of differences in the quality of new capital goods
produced.

The term enterprise
investment has been used to describe the kind of capital formation that
involves innovations and that by building ahead of demand generates rapid rates
of growth of productivity or technical progress. But to get such growth, it has
been argued, an economy must be run “flat out,” at full speed. While this has
been subject to some dispute, there is a fairly general consensus that growth
will be faster when unemployment fluctuates within a narrow range and at low
levels.

What do you mean by
deficit budget?

The two main causes of a
budget deficit are excessive government spending and low levels of taxation
that don't cover expenditure. Tax cuts can cause declines in revenue can result
in a budget deficit, or, a massive fiscal stimulus can increase government
spending over and above the income it receives

Q. 4     Identify and explain the various types of
international alliances between Pakistani firms and foreign firms.    (20)

. The Islamic Republic of
Pakistan maintains a large diplomatic network across the world. Pakistan is the
second largest Muslim-majority country in terms of population (after Indonesia
and is the only Muslim majority nation to have possession of nuclear weapons.

Pakistan's economy is
integrated into the world with strong trade ties to the EU and economic
alliances and agreements with many Asian nations.[citation needed]

Pakistan enjoys a highly
strategic geopolitical location, being situated at the corridor of major
maritime and land-based transit routes reaching from energy-rich Central Asia
and the Middle East to the population centers of South and East Asia, as well
as having geostrategic hotspots such as Afghanistan, China, India and Iran as
immediate neighbors. Pakistan maintains a tens relationship with the Republic of
India due to the Kashmir conflict, close ties with the People's Republic of
China, Turkey, Russia and Gulf Arab states and a fluctuating relationship with
the United States of America due to overlapping interests during the Cold War
and War on Terror.

Foreign policy of
Pakistan

Main articles: China–Pakistan
relations, Pakistan–Soviet Union relations, Pakistan–United States relations,
and Pakistan-European Union relations

Pakistan's Foreign Policy
seeks to protect, promote and advance Pakistan's national interests in the
comity of nations”

M A Jinnah's Vision On 15
August 1947, outlining the foreign policy of Pakistan, Quaid-e-AZ am observed:

"Our objective should
be peace within and peace without. We want to live peacefully and maintain
cordial and friendly relations with our immediate neighbors and with world at
large. We have no aggressive designs against any one. We stand by the United
Nations Charter and will gladly make our contribution to the peace and
prosperity of the world."

Interaction with the
neighboring countries such as Afghanistan (in the West) and Inda (in East.
During most of 1947–1991, the USSR support was given to Republic of India, over
which it has fought three wars on Kashmir conflict. During the 1960s,
Pakistan's relations with and neighboring Afghanistan have also been extremely
difficult due to the latter's contest over the Durand Line [citation needed.
The foreign relations with Iran, Saudi Arabia and China remain extremely
important and based on the extensive cooperation in national security and economic
interests in the Persian Gulf and wide-ranging bilateral relations with the
United States and other Western countries. With the growing influence of USSR
in the region, Pakistan cemented close security relations with China in Asia
and Poland in Europe during most of the Cold War. While Pakistan had
"on-off relations" with the United States, Pakistan assisted
President Nixon reproach with China and other East Asian countries.

In 1947, Muhammad Ali
Jinnah, founder of the state of Pakistan, clearly described the principles and
objectives of Pakistan's foreign policy in a broadcast message, which is
featured prominently in a quotation on the homepage of Pakistan's Ministry of
Foreign Affairs website: "The foundation of our foreign policy is
friendship with all nations across the globe."

Pakistan-China relations

Main article: China-Pakistan
relations

China has played a
significant role in the development, economy and security of Pakistan, with
relationship beginning in 1950 when Pakistan was among the first countries to
enter into official diplomatic relations with the Republic of China (on Taiwan
and recognize the People's Republic of China (PRC) regime on mainland China.
Since then, both countries have placed considerable importance on the
maintenance of an extremely close and supportive special relationship and the
two countries have regularly exchanged high-level visits resulting in a variety
of agreements. The PRC has provided economic, military, and technical
assistance to Pakistan, and each country considers the other a close strategic ally.
Since the advent of the 21st century, Pakistan and China have strengthened
their relations through bilateral trade, military agreements and supporting
each other on key issues.

Pakistan–United States
relations

Main article: Pakistan–United
States relations

The United States has
played an important role in the young history of Pakistan, being one of the
first countries to recognize their independence on 14 August 1947.The
relationship between the two countries went through varying levels of
friendliness, but Pakistan consistently found themselves on the United States
side of issues faced during the Cold War. Pakistan served as a geostrategic
position for United States military bases during the Cold War since it bordered
the Soviet Union and China. These positive relations would fall apart following
successful cooperation in fighting the Soviet Union's influence in Central Asia<span dir="RTL" face=""Arial",sans-serif" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> and the subsequent fall
of the Soviet Union.

In reaction to Pakistan's
new nuclear capacity, the United States in 1992 passed the approving sanctions
against Pakistan, Relations would strengthen following with Pakistan's warm
response following the tragedy. Aid was given to Pakistan for the first time
again in 2002, and the 2000s saw an extension of this friendly relationship.

As the War on Terror
continued to linger, the United States and Pakistan would disagree on
strategies while also accusing each other of various things. This dynamic would
reach a head following a few incidents highlighted by the operation to kill
Osama bin Laden<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">۔ While these incidents wore down the trust between the two
nations, the two would continue to share a healthy relationship. Although the
two countries do not view each other favorably in polls, the two governments
share an important relationship featuring multiple types of aid to Pakistan,
important military cooperation and collaboration, and a strategic ally in Central
Asia for the United States The United States and Pakistan's relationship
persists of promoting trade and regional economic cooperation, this type of
relationship is beneficial for both countries and gives incentive for
continuing friendly relations. U.S. also has concerns regarding Pakistan
include regional and global terrorism; Afghan stability; democratization and
human rights protection; the ongoing Kashmir problem and Pakistan-India
tensions; and economic development. Recently US stopped military aid to
Pakistan, which was about US$2 billion per year.

Muslim world

After Independence,
Pakistan vigorously pursued bilateral relations with other Muslim countries and
made a wholehearted bid for leadership of the Muslim world, or at least for
leadership in achieving its unity. The Ali brothers had sought to project
Pakistan as the natural leader of the Islamic world, in large part due to its
large manpower and military strength. A top-ranking Muslim League leader, Khaliq
zaman, declared that Pakistan would bring together all Muslim countries into Islamite–
a pan-Islamic entity. Such developments (alongside Pakistan's creation) did not
get American approval and British Prime Minister Clement Attlee voiced
international opinion at the time by stating that he wished that India and
Pakistan would re-unite. Since most of the Arab world was undergoing a
nationalist awakening at the time, there was little attraction to Pakistan's
Pan-Islamic aspirations. Some of the Arab countries saw the 'Islamite' project
as a Pakistani attempt to dominate other Muslim states.

Pakistan vigorously
championed the right of self-determination for Muslims around the world.
Pakistan's efforts for the independence movements of Indonesia, Algeria,
Tunisia, Morocco and Eritrea were significant and initially led to close ties
between these countries and Pakistan. However, Pakistan also masterminded an
attack on the Afghan city of Jalalabad during the Afghan Civil War<span dir="RTL" face=""Arial",sans-serif" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> to establish an Islamic
government there. Pakistan had wished to foment an 'Islamic Revolution' which
would transcend national borders covering Pakistan, Afghanistan and Central
Asia.

On the other hand,
Pakistan's relations with Iran have been strained at times due to sectarian
tensions. Iran and Saudi Arabia used Pakistan as a battleground for their proxy
sectarian war and by the 1990s, Pakistan's support for the Sunni Taliban
organization in Afghanistan became a problem for Shia Iran which opposed a
Taliban-controlled Afghanistan. Tensions between Iran and Pakistan intensified
in 1998, when Iran accused Pakistan of war crimes as Pakistani warplanes
bombarded Afghanistan's last Shia stronghold in support of the Taliban

Q: 5 what are the
disadvantages of unlimited liability in a sole proprietorship. What happens to
the personal wealth of the owner if he or she is sued? Would this discourage
you from starting up a sole proprietorship?

Ans:

Merits or Advantages of
Sole Proprietorship:

1. Easy Formation and
Dissolution:

There are no legal
formalities to start a sole proprietary business. Therefore, it become easy to
start. There may be a negligible or few restrictions imposed by local bodies
such as municipal corporation etc. for health, sanitation and environment point
of view, that must be followed by him. It is equally easy to dissolve the sole
proprietary business. There are no legal formalities for dissolution too. An
individual can easily start the business under this form and can easily
dissolve the same.

2. Self or Direct
Motivation:

In this form of business organization,
there is a direct relationship between the efforts and profits. Sole proprietor
himself enjoys the entire profit, therefore, he is self-motivated, inspired or
induced to put in his best and maximum efforts, talents, knowledge and skills
in running the business successfully.

3. Absolute or Total
Control:

The sole proprietor
prepares plans, policies and executes the same and manages the affairs of the
business organization. No one has right to interfere in his business affairs.
He is free to direct and control the business operations.

4. Sole and Quick
Decisions:

All the decisions
regarding business organizations are taken by the sole proprietor. He does not
have to depend on others for decisions. Therefore, the decisions are taken in
proprietorship is sole and quicker. The implementation of such decisions is
also done quickly without delay. Reason behind this is, that he only is the
decision maker and executor.

5. Minimum Government
Regulation:

The sole proprietorship is
free from legal intervention and formalities. This type of business form is
least regulated by law and the government. There is no intervention by the
government in day to day functioning of the business. There is no government regulation
in respect of formation and dissolution of the business. But the Tax Laws and Labor
Laws are required to be observed.

6. Business Secrecy:

In a competitive world
business secrecies must be highly maintained. In this form of business organizations
all the business secrets are highly retained as non-else share them.

7. Direct and Personal
Relation or Contact with Customers and its Employees:

In sole proprietorship the
capital investment is small therefore, size of the business is also small and
limited. That is why he is able to keep direct and personal relationship with
his customers and employees. He is able to give personal attention and care
towards customers and employees, and therefore, it is possible to give best
services to both of them which in turn increases his profit.

8. Flexible Operations:

There is ample scope for
flexibility in business operations. A sole proprietor can easily adjust himself
and his business operations according to changes occurring within and outside
the business organization.

9. Credit Standing in
Market:

A sole proprietor can
enhance his name and fame in the market by managing business operations
profitably. If he is honest and prompt enough to pay the debts of his business
he can earn good reputation in the nearby markets and therefore, the bankers,
creditors generally do not hesitate in giving credit facilities to him.

10. Diffusion of
Economic Concentration:

In sole proprietorship
business organization there is far and wide ownership, which ultimately helps
in diffusion of concentration of economic power in the hands of few people. A
large number of people in society carry on their businesses under sole
proprietorship.

11. Opportunity to
Develop Personality and Earn Respect:

Under this form of
business, the sole proprietor has to invest, manage, control, and has to take
decision himself. Therefore, the qualities like leadership, decision, and
making, problem solving ability, initiative, self-reliance, and ability to face
all challenges are automatically developed in him. All round personality can
thus, be developed by him. Because of his business profits and prosperity, he
can enjoy a respectful life in the society and can get love and affection from
the, citizens.

Demerits
or Disadvantages:

1. Limited Capital or
Financial Resources:

The capital raised by the
sole proprietor is by himself and through credit still the amount of capital is
limited. Because of unlimited liabilities, he is not interested to invest more
money in business. Therefore, the size of the business is small or limited.

2. Unlimited Liability:

All the losses and risks
in business are solely borne by sole proprietor. If the risks, losses, or debts
could not be met out of the business assets and resources, his personal property also is attached and sold to satisfy the debts and
claims of the creditors.

3. Limited Managerial
Ability, Skill and Knowledge:

Today’s Business requires
managerial ability, skill and knowledge in various areas like production,
financing, marketing, purchasing material, person or human resources etc. It is
very difficult to acquire all the qualities, for a sole person. Therefore, there
is always lack of specialized skill, knowledge, ability, which in turn
adversely affect the profit.

4. Uncertain Duration:

There is no separate
entity of the firm from the sole proprietor so it is highly uncertain. If he
becomes insolvent or physically handicapped (disability, insanity) or dies the
business comes to an end.

5. Restricted Growth:

Because of limited
financial resources and limited managerial ability, skill, and talent the
development and growth of the business is also limited.

To sum up, the sole
proprietorship can survive only when the business is small and simple the
market is local and the demand for capital and skill is modest.

For All  Solved Assignments  click on this link <a href="https://educational-wealth.blogspot.com/2021/06/aiou-lhr.html">https://educational-wealth.blogspot.com/2021/06/aiou-lhr.html</a>

Course: Fundamentals of Business (8402 ) Semester: Spring, 2021 Level: BBA (4 Years) / PGD

Course: Fundamentals of Business (8402 ) Semester: Spring, 2021 Level: BBA (4 Years...

Course: Fundamentals of Business (9501) -Semester: Spring, 2021 Level: BBA (4 Years) / PGD

Abdullah 0 Sunday, August 29, 2021

Course: Fundamentals of
Business (9501)                                                    Semester: Spring, 2021

Assignment No. 1

Q: 1 Discuss the
influence the government has on the profit motive.

Ans:

What Is the Profit
Motive?

Profit motive influence our economy

Why must businesses
make a profit?

Is profit motive good
or bad?

Government have a
profit motive

Government can be efficient
without a profit motive. ... Any organization; private companies, non-profits,
and governments have limited resources. These resources include; money,
manpower, and time. Government can and must be efficient, even without a profit
motive.

What is the difference
between open opportunity and legal equality?

What best explains the
profit motive?

Six Factors Affecting
Profit

Number of Production
Units. The most basic factor affecting profit in any business is the number of
production units. ...

Production per Unit. The
productivity of your land and livestock also has an impact on profit. ...

Direct Costs. ...

Value per Unit. ...

Enterprise Mix. ...

Overhead Costs.

How the Profit Motive
Works

Q 2: Briefly
describe a firm’s social responsibility to its community and the environment.
(20)

Social Responsibility
to the Community and the Environment

Ans: What is social
responsibility to the community?

What is social
responsibility towards environment?

Efforts of Corporate for
Social Responsibility

Corporates also practice
social responsibility by donating to national and local charities which can be
beneficial to the society. They have lots of resources that can benefit the
local community. Attending volunteer events says a lot about a company’s
sincerity and social responsibility. By doing good deeds without expecting
anything in return, companies are able to express any concern for their issues
and support for certain organizations.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

Q. 3:Discuss the two
primary responsibilities of the federal government in establishing economic
policies. What does it mean to have a budget deficit?   (20)<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

Ans: The U.S. government's role in the economy
can be broken down into two basic sets of functions: it attempts to promote
economic stability and growth, and it attempts to regulate and control the
economy. ... The federal government regulates and controls the economy through
numerous laws affecting economic activity.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

What is government's
primary role in the economy?

Monetary and fiscal policy
are used to regulate the economy, economic growth, and inflation so that
long-run growth is possible. Government activities used to improve long-run
growth include stimulating economic growth, enacting monetary policies, fixing
the exchange rates, and using wage and price controls.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

What are the 4 roles of
government in the economy?

Growth theorists since World
War II have gone further, arguing that it is not enough simply to achieve full
employment periodically.

What do you mean by
deficit budget?

To libertarian and
free-market economists, budget deficits are liable to cause significant
economic problems – crowding out of the private sector, higher interest rates,
future tax rises and even potential of inflation. ... The most useful way of
measuring the size of the budget deficit is as a % of GDP.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

A budget deficit occurs
when a government spends more in a given year than it collects in revenues,
such as taxes. As a simple example, if a government takes in $10 billion in
revenue in a particular year, and its expenditures for the same year are $12
billion, it is running a deficit of $2 billion.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

When an increase in
government expenditure or a decrease in government revenue increases the budget
deficit, the Treasury must issue more bonds. This reduces the price of bonds,
raising the interest rate. ... A higher exchange rate reduces net exports.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

Budget deficit is likely
to stimulate aggregate demand and cause inflation. ... Budget deficit will
increase real interest rates and, thereby, retard private spending.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

A budget deficit occurs
when expenses exceed revenue and indicate the financial health of a country.
The government generally uses the term budget deficit when referring to
spending rather than businesses or individuals. Accrued deficits form national
debt.<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">

Foreign policy of
Pakistan

Pakistan's Foreign Policy
seeks to protect, promote and advance Pakistan's national interests in the
comity of nations”

M A Jinnah's Vision On 15
August 1947, outlining the foreign policy of Pakistan, Quaid-e-AZ am observed:

Pakistan-China relations

Main article: China-Pakistan
relations

Pakistan–United States
relations

Main article: Pakistan–United
States relations

The United States has
played an important role in the young history of Pakistan, being one of the
first countries to recognize their independence on 14 August 1947.The
relationship between the two countries went through varying levels of
friendliness, but Pakistan consistently found themselves on the United States
side of issues faced during the Cold War. Pakistan served as a geostrategic
position for United States military bases during the Cold War since it bordered
the Soviet Union and China. These positive relations would fall apart following
successful cooperation in fighting the Soviet Union's influence in Central Asia<span dir="RTL" face=""Arial",sans-serif" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> and the subsequent fall
of the Soviet Union.

As the War on Terror
continued to linger, the United States and Pakistan would disagree on
strategies while also accusing each other of various things. This dynamic would
reach a head following a few incidents highlighted by the operation to kill
Osama bin Laden<span dir="RTL" face=""Arial",sans-serif" lang="AR-SA" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">۔ While these incidents wore down the trust between the two
nations, the two would continue to share a healthy relationship. Although the
two countries do not view each other favorably in polls, the two governments
share an important relationship featuring multiple types of aid to Pakistan,
important military cooperation and collaboration, and a strategic ally in Central
Asia for the United States The United States and Pakistan's relationship
persists of promoting trade and regional economic cooperation, this type of
relationship is beneficial for both countries and gives incentive for
continuing friendly relations. U.S. also has concerns regarding Pakistan
include regional and global terrorism; Afghan stability; democratization and
human rights protection; the ongoing Kashmir problem and Pakistan-India
tensions; and economic development. Recently US stopped military aid to
Pakistan, which was about US$2 billion per year.

Muslim world

Pakistan vigorously
championed the right of self-determination for Muslims around the world.
Pakistan's efforts for the independence movements of Indonesia, Algeria,
Tunisia, Morocco and Eritrea were significant and initially led to close ties
between these countries and Pakistan. However, Pakistan also masterminded an
attack on the Afghan city of Jalalabad during the Afghan Civil War<span dir="RTL" face=""Arial",sans-serif" style="font-size: 12pt; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Arial; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;"> to establish an Islamic
government there. Pakistan had wished to foment an 'Islamic Revolution' which
would transcend national borders covering Pakistan, Afghanistan and Central
Asia.

Ans:

Merits or Advantages of
Sole Proprietorship:

1. Easy Formation and
Dissolution:

2. Self or Direct
Motivation:

3. Absolute or Total
Control:

4. Sole and Quick
Decisions:

5. Minimum Government
Regulation:

6. Business Secrecy:

7. Direct and Personal
Relation or Contact with Customers and its Employees:

8. Flexible Operations:

9. Credit Standing in
Market:

10. Diffusion of
Economic Concentration:

11. Opportunity to
Develop Personality and Earn Respect:

<a name="bookmark45"></a>Demerits
or Disadvantages:

1. Limited Capital or
Financial Resources:

2. Unlimited Liability:

All the losses and risks
in business are solely borne by sole proprietor. If the risks, losses, or debts
could not be met out of the business assets and resources, his personal <a name="bookmark46"></a>property also is attached and sold to satisfy the debts and
claims of the creditors.

3. Limited Managerial
Ability, Skill and Knowledge:

4. Uncertain Duration:

5. Restricted Growth:

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Course: Fundamentals of Business (9501) -Semester: Spring, 2021 Level: BBA (4 Years) / PGD

Course: Fundamentals of Business (9501) Semester: Spring, 2021 Level: BBA (4 Years)...

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Course: Fundamentals of Business (8402 ) Semester: Spring, 2021 Level: BBA (4 Years) / PGD

Course: Fundamentals of Business (9501) -Semester: Spring, 2021 Level: BBA (4 Years) / PGD

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