Economics Quotient of the Matrix 2008 Quiz

All you budding economists and computer geeks, a quiz for you, in which I participated in (and eventually came 4th!!) : Here it goes, question followed by the answer :

NOTE: This one is on economics, and not for computer geeks. Also check out the Computers Quiz.

1. Name any 4 G8 countries.

-This is obvious. USA, UK, Canada, Russia, France, Germany, Italy and Japan.

2. Sustainable moderate economics growth and a low inflation allowing for a market friendly monetary policy. Name this kind of economy.

-Goldilocks Economy

3. Graduate from St. Stephen's College, he was an ex-director at IMF and Independent Evaluation Office. Who?

-Montek Singh Ahluwalia

4.President and CEO of First Allied Corp. a holding company with varied business interest such as food processing units and sports teams his teams include Tampa Bay Buccaneers. Name the person?

-Malcolm Glazer

5. Country with the highest inflation figures?

-Zimbabwe

6. Name the company with the following tagline " the jeans that built America"

-Lee

7. What is "timesjobs.com" tagline?

-If you have a reason we have the job.

8. Finnish MNC with its HQ in Kelianini, Espoo?

-Nokia

9. Who coined the term BRIC Countries?

-Goldman Sachs

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Thanks to Mount St. Mary's for hosting a wonderful quiz and Kshitij, Prabhat, Eeshan, Prateek, Sojo and Anuj for being able quizmasters!!

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Matrix Ecomm Buzz 2008 Quiz

All you budding economists and computer geeks, a quiz for you, in which I participated in (and eventually came 4th!!) : Here it goes, question followed by the answer :

NOTE: This one is on computers, and only for computer geeks. The one for the budding economists is the Economics Quiz.

1. What is a phreaker?

-A person who hacks phone for making free calls. [Steve Wozniak and Steve Jobs,founders of Apple, are famous phone phreakers]

2. What Apple Portable debuted in a choice of two fruity color schemes, blueberry and tangerine?

-Apple iBook

3. What search engine did DEC develop to manage old email?

-AltaVista

4. What famed movie supercomputer did the university of Illinois have two birthday parties for, in 1992 and in 1997?

-HAL

5. What computer accessory did Apple try splitting in two in 1993 in an attempt to reduce injuries?

-Keyboard

6. What tech company did founder Marc Ewing name for his grandfather's old Cornell Lacrosse Cap?

-Redhat

7. The ad of this company ran only once during the Super Bowl in 1984. Tv Guide declared it to be the best commercial of all time. Name the company.

-Apple

8. Who founded the WWW Consortium?

-Sir Tim Berners Lee

9. Who designed the original Java Language and wrote "Emacs" for Unix systems?

-James Gosling

10. Who developed PHP?

-Rasmus Lerdorf

11. What chairman of Apple coined the term PDA?

-No its neither Steve Jobs nor Steve Wozniak. Its John Sculley

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Imp Note. For those who copy this quiz, please give a link back to this page and/or a reference to this page or the Matrix Ecomm Quiz.

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Found an answer to : Why does India win so few Olympic medals?

Sorry for the digression but its sad that India wins so few medals even though we boast of a rich legacy of sports persons and a population of one billion.

Tyler Cowen writes:

My guess would be lack of government subsidies, combined with the possibility that non-democratic, authoritarian governments feel greater need to prove themselves on the international stage and to their people at home. The subsidies matter for the infrastructure as much as for the athletes. Throw in low social mobility, nutrition problems, and the relative lack of TV to inspire the young 'uns and you've got my answer. Bad roads don't help any either. Does this query have any other takers?

My only comments are that India cannot experience a phenomenal growth all of a sudden, and this has to be a very gradual process. As Rome can't be built in a day, all the above infrastructure cannot just sprout up and also true about the handling of the immense talent within India.

Maybe we can take lessons from China, a believe of long-term strategies in human development, be it the 1970s birth control or the opening of the economy 13 years before India. They started preparing for the Beijing Olympics since a long time, and the fruit of labor wasn't seen instantly as in the Sydney and Athens Olympics but the recently concluded one.

What do you have to say? Any comments, just shoot them here.

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Joe Biden is the presumptive Vice President, improves chances of US-Indo Nuke Deal

Barack Obama's just announced that his VP is going to be Senator Joseph Biden, also the Chairman of U.S. Senate Committee on Foreign Relations.

Its good news for India as he was a strong backer of the Indo-US Nuke Deal, and was also quoted as saying that he would push the deal in the Congress "like the devil". Being the Chairman o Foreign Relations, Joe Biden also visited India earlier this year, to make a brief stopover in New Delhi in order to discuss matters concerning the nuke deal with Indian leaders.

During his stay, he is said to have met Manmohan Singh and Pranab Mukherjee, apart from other officials at the Ministry of External Affairs to discuss all relevant matters.

The co-sponsor of the bill , Democrat Joe Biden had also said

When we pass this bill, America will be a giant step closer to approving a major shift in US-Indian relations. If we are right, this shift will increase the prospects for stability and progress in South Asia and in the world at large.

So lets hope for the very best for both Joe Biden and Barack Obama!!

Whats your take on this? For a better understanding of US-Indo Nuke deal, visit the relevant article.

"Doctors vs Economists"

Great post I found at Chris Dillow's blog on the upper hand Doctors enjoy over Economists. Excerpts:

For all its excellence, the medical profession still leaves a lot to be desired. Medical errors kill tens of thousands a year; doctors still have little idea how to treat many complaints such as gout, the common cold, backache or many degenerative diseases; and their treatment of the mentally ill is still often atrocious.
And yet, for all this, doctors get much less obloquy than we economists get for our frequent failures to forecast recession - even though our errors are less costly than doctors’.  Why is this? Here are some possibilities:
1. Survivorship bias. A man who’s been cured by a doctor lives to tell everyone. A man who’s been killed by one stays quiet. Economists’ “victims” - those stupid enough to believe forecasts - don’t keep schtum.
2. Publication bias. New medical research is often presented as an exciting breakthrough. Economic research rarely lends itself to such glowing headlines.
3. The fight against nature. If doctors are unable to cure disease, this is seen not as a failure of their intellect, but rather as testament to the force of hostility of nature, against which they are heroically battling.

I too believe it is the doctors and surgeons of the world who enjoy far more luxuries, and shirk responsibilities much more than Economists. Medical failure kills much more human lives than the billions of dollars lost in the forthcoming recession.

Another aspect pointed out by Chris is that economists have always been 'genuinely brilliant' and given world-class inferences on economic theories, whereas the contemporaries(I mean doctors during the time) of Adam Smith, and John Keynes not half as enterprising.

Lets make this topic interactive - give your comments, suggestions, inferences, or critics on this...

McDonald's: I'm loving it !!! Aren't we all? A quick look at the reasons why

Harshvardhan's finally woken up, and written a beautiful article on McDonalds!

In 1940, two brothers, Dick and Mac McDonald, tentatively ventured
forth in the then-infant fast-food business. Little did they know,
that around 65 yrs later, their pioneering idea 'Speedee Service
System', the hallmark that then lent them the edge would make them,
McD's, the world's largest, most popular restaurant chain.
The first outlet was established in San Francisco, Calif. and almost
immediately became immensely successful. Building on that popularity,
fame and success, the siblings opened 9 more franchises, the 9th being
founded by Ray Kroc in Des Plaines, Illinois on April 15, 1955. Later
on, Ray Kroc purchased the McD brothers equity in the company and led
its rapid surge in worldwide expansion.

The 'food junkie' can of course at anytime munch on tasty french fries or bite mouthfuls into cheesy hamburgers.
A second advantage that with surety sustains their magnanimous lead is
their extremely fast service that comes in specially handy during the
busy early morning hours of school or peek rush (lunch) hours of
office. Harried people often drop in for a quick bite en route to work
or school. The tariff being pocket-friendly and economically viable
extends its services to all classes and sectors, taking into its folds
of a loyalty base even the weakest of the weak. Despite the low
pricing, a customer does not miss out on any of the services provided
by the more expensive eateries.

Today, there are more than 600 McCafe's and McD's spread out over 120
countries and territories, serving nearly 54 mn customers each day!
Being such a large global brand, McDonald's has also been instrumental
in providing employment all across the world. Stats show that one in
eight people in the USA alone have worked at McD's during some point
in their lives.

As any other company, McD's too had to cross hurdles along thier way
to the summit of success and had a rough time doing so.
McDonald's has been sued successfully several times over in the past,
notably by vegetarian groups, largely Hindus.

These hurdles, however, have been crossed, doing little to dent McD's
reputation as a reliable brand of good quality. If anything at all,
McD's has only bolstered its stronghold, continuing to stride forward
at a healthy pace, leading the pack of other restaurant or fast-food
chains flanking them at a gaping distance away, leading them as a
front-runner in the Forbes Top 10 - the only fast-food business to
have been mounted to this great, dizzying height of achievements, many
kudos and beyond all-infinite success, seemingly much more in store
for us and many more to come.

What do you have to say!! Let others know by posting your comments!

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Innovation is the key in times of gloom : A check on the auto industry

In recent weeks, General Motors announced a $15 billion loss(read related article) while Ford suffered a $8.7 billion loss. Their Japanese counterparts Toyota and Maruti Suzuki experience huge drops in their profits, 39% and 17% respectively. [Note : Toyota beats everyone else because of their strategy based on contradictions]
Steel prises are rising, inflation is rising, savings of the people are reducing, interest rates and loans are becoming expensive and global recession is setting in. In short, there could not be a gloomier time than this for the auto industry. But the never-say-die spirit of the automakers is helping turn the tide.
I'm reminded of a beautiful quote given by Albert Einstein, which the auto makers seemed to have followed to the core :

Out of clutter find simplicity;
From discord find harmony;
In the middle of difficulty lies opportunity.

Maruti and other competitors, like Tata, are focusing on using alternative materials for components for raw materials while Honda and GM reducing their administration expenses by reforming canteen menus and starting in-house training centers for their employees.
Just a few days ago, some companies were employing very innovative practices like energy efficient pumps, ventilators, and non-artificial and eco-friendly towers for cooling office premises!
At such times of inflation, most companies are reducing the number of workers, and trying to extract as much work in order to improve the bottom line of the business.
I've got a few ideas of my own too! (which auto industries can follow)

1. Reduce inventory costs by getting all the suppliers closer to your manufacturing unit (Japanese firms do this all the time - it is believed that this helps keep inventory costs to a bare minimum, in short, make the product when the product is demanded)
2. Distribution Systems should be highly efficient and must save fuel in the case of transporting cars from the factory to car outlets. Bigger trucks and computerised systems are a must. Famous example : UPS (United Parcel System in USA saves millions of dollars each year this way)
3. Inviting employees to make decisions. Sometimes the best ideas come from the people whom you least expect to deliver them...
4. On a light note, executives of the companies should shed those formal shirts, ties and courts to more comfortable clothes in order to avoid using excessive air conditioning.

I'm waiting for the best suggestions to come from you people! Any comments, writings, please post them!!

In recent weeks, General Motors announced a $15 billion loss(read related article) while Ford suffered a $8.7 billion loss. Their Japanese counterparts Toyota and Maruti Suzuki experience huge drops in their profits, 39% and 17% respectively. [Note : Toyota beats everyone else because of their strategy based on contradictions]

Steel prises are rising, inflation is rising, savings of the people are reducing, interest rates and loans are becoming expensive and global recession is setting in. In short, there could not be a gloomier time than this for the auto industry. But the never-say-die spirit of the automakers is helping turn the tide.

I'm reminded of a beautiful quote given by Albert Einstein, which the auto makers seemed to have followed to the core :

Out of clutter find simplicity;

From discord find harmony;

In the middle of difficulty lies opportunity.

Maruti and other competitors, like Tata, are focusing on using alternative materials for components for raw materials while Honda and GM reducing their administration expenses by reforming canteen menus and starting in-house training centers for their employees.

Just a few days ago, some companies were employing very innovative practices like energy efficient pumps, ventilators, and non-artificial and eco-friendly towers for cooling office premises!

At such times of inflation, most companies are reducing the number of workers, and trying to extract as much work in order to improve the bottom line of the business.

I've got a few ideas of my own too! (which auto industries can follow)

1. Reduce inventory costs by getting all the suppliers closer to your manufacturing unit (Japanese firms do this all the time - it is believed that this helps keep inventory costs to a bare minimum, in short, make the product when the product is demanded)


2. Distribution Systems should be highly efficient and must save fuel in the case of transporting cars from the factory to car outlets. Bigger trucks and computerised systems are a must. Famous example : UPS (United Parcel System in USA saves millions of dollars each year this way)


3. Inviting employees to make decisions. Sometimes the best ideas come from the people whom you least expect to deliver them...


4. On a light note, executives of the companies should shed those formal shirts, ties and courts to more comfortable clothes in order to avoid using excessive air conditioning.

I'm waiting for the best suggestions to come from you people! Any comments, writings, please post them!!

Electric Cars: Boon or Bane

We have a guest post by Jyotesh Singh! Here it is explaining the economics of electric cars like Reva ---

With high fuel prices, attractive government incentives, galloping inflation, electric cars are the in thing. BUT ARE THEY?

The REVA Company took out advertisements in the newspapers some weeks ago. They say that the cost per kilometre is 80 paise as compared to approximately Rs. 4 in petrol cars. They also say that their vehicles are less polluting.

But what they fail to inform us citizens about is the fact that their vehicle does not compare to the petrol vehicles in any manner.

Electric Cars have a Range of 80 kilometres and add to that the fact that their battery life is prone to be temperamental. The actual on road range you get depends on condition.

On any incline, the battery starts straining and disappearing extremely fast while rain and other forms of bad weather beat its socks off. Another thing is that REVA seats 2 while most small petrol cars can effectively seat 5.

The cost difference in the 2 forms of vehicles is staggering if you take 2 REVA’s as equivalent to one introductory Maruti 800.

Also, you do not get any good Air Conditioner with the starting REVA due to the fact that it compromises battery power and near zero boot space.

Eco warriors will point out that the car protects the environment, but what I say is that all it does is shift the smokestack from the vehicle to the power plant. What we are effectively doing is use the diesel in power plants and replacing more efficient petrol engines by the less efficient generators in power plants to get lesser outputs.

I am not defending internal combustion engines but I wish people to realise that the financial outlay does not make up for whatever its good effects. It will take eons of driving and that too while ensuring that the cost of power remains the same, for the REVA to justify yourself.

The Final Decision is yours. What do you have to say? Any comments, suggestions or contradictions...... please post them!!

Coffee Industry in a decline??

Just after the chocolate industry and cocoa makers felt a pinch, the coffee industry has no capital left in its coffers!

The biggest coffee seller in the world, Starbucks announced a month ago that it would close around 600 Starbucks coffee stores and in turn, push out 12,000 employees. With the recession coming and subprime crisis looming, and American spending on restaurant and coffee shops declining, its no wonder that many competitors of Starbucks may follow suit.

Democrats, led by house speaker have gone to the extent of saying that when they come in power, they would "seriously consider nationalizing the coffee industry to ensure the free flow of java at fair prices.”

Don't think that just because its big it is affected. Smaller, and much younger cousings of Starbucks too face a similar situation : The Beanscene chain of coffee shops, which has all of  14 stores and 142 staff is up for grabs after a similar condition of gloominess in England and other parts of the world.This was a month ago. But....

Just yesterday, about 150 parties expressed interest in buying the coffee seller. Seems like a reversal in coffee maker's fate and coffee industry.

What are your says on the same. Is the coffee industry going down, or its caught its breadth and is on the rise once again? Comment, or participate in our poll!!

Bible teachings for the businessman and investor

Recently I came across a Mint Newspaper article, which gave a lot of quotes containing business sense what one would find in the Bible. Bible is often considered the founder of all ethics, manners and teachings - and business sense was the last thing what I'd thought the Bible too preaches! Here's what MINT compiled from the Bible -

Invest systematically :

He who gathers money little by little makes it grow.

Diversify :

Divide your portion to seven, or even to eight, for you don’t know what misfortune may occur on the earth.

Avoid debt :

The rich ruleth over the poor, and the borrower is servant to the lender.

What do you have to say about them? Post your comments people!!

Read more quotes at the Livemint.com Website.