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Question : 4.1   Demand 1) A market defined as A) a physical place where : 1238381

Economics

 

4.1   Demand

1) A market is defined as

A) a physical place where people buy only goods.

B) a physical place where people buy both goods and services.

C) a store where people buy physical goods.

D) any arrangement that brings buyers and sellers together.

E) a place where one good is bartered for another.

2) EBay

A) will be considered a market when the Internet firms are profitable.

B) is a market because buyers and sellers are brought together to buy and sell.

C) would be a market if there was only one physical location.

D) cannot function as a market.

E) is not a market because buyers can buy from only one seller at any point in time.

3) Which of the following statements is true about a competitive market? A competitive market

A) must have a physical location.

B) includes markets for goods and services but not for inputs.

C) has so many buyers and sellers that no one can influence the price.

D) has one seller competing to sell his or her product.

E) has a handful of sellers but always has many buyers.

4) If Mark tries to purchase a new refrigerator in a perfectly competitive market, then

A) he will find himself constantly haggling with sellers over the price.

B) he will have only a few sellers available to him.

C) he will have a very limited ability to negotiate over the price.

D) he will see large differences in the types of refrigerators sold across sellers.

E) None of the above is correct.

5) In a perfectly competitive market, an individual ________ has ________ influence over the market price of the good or service being sold.

A) buyer; basically no

B) seller; basically no

C) buyer; a great deal of

D) seller; a great deal of

E) Both A and B are correct.

6) Assume that the market for consumer gasoline is perfectly competitive.  When one additional seller (gas station) enters the market,

A) the price of gasoline increases.

B) the price of gasoline decreases.

C) the price of gasoline is left unaffected.

D) then at least one other seller must exit the market.

E) None of the above is correct.

7) What is the “quantity demanded”?

A) the amount of a good people desire

B) the amount of a good people are able and willing to buy during a specific time period and at a given price

C) the amount of a good people are able and willing to buy at all possible prices

D) the maximum amount of a good that can be consumed during a specific time period

E) the minimum amount of a good that people are willing to buy during a specific time period and at a given price

8) The “quantity demanded” of any good or service is ________ during a specified time period and at a specified price.

A) the amount people are willing to buy

B) the amount people are able to buy

C) the amount people are willing and able to offer

D) the amount people are willing and able to buy

E) the amount people are willing to buy because it is the amount sellers are willing to sell

9) The “law of demand” refers to the fact that, other things remaining the same, when the price of a good rises,

A) the demand curve shifts rightward.

B) the demand curve shifts leftward.

C) there is a movement down along the demand curve to a larger quantity demanded.

D) there is a movement up along the demand curve to a smaller quantity demanded.

E) the demand curve shifts rightward and there is a movement up along the demand curve to a smaller quantity demanded.

10) The law of demand refers to how

A) demand changes when people’s incomes change.

B) demand changes when the prices of substitutes and complements change.

C) the quantity demanded changes when the price of the good changes.

D) the price of the good changes when people’s demand for the good changes.

E) the quantity demanded changes when the demand for the good changes.

 

 

 

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July 1, 2023
    

The assignment revolves around the Case Study, which may be found as a separate PDF document in the Resources section of the subject Interact site.

Objective

To apply and consolidate skills acquired in the requirement and analysis disciplines through analysis of a simple case study, and to express the results through the relevant UML diagrams.

Tasks

Part A - Use Cases (25 marks)

  1. Perform a requirements analysis for the Case Study. Express the results using the following artefacts:
    1. A use case diagram for the functional requirements of the entire system, accompanied by:
    2. Short use case descriptions for all use cases.
  2. Select the most essential (critical core) use case in the system, and produce a full use case description for it .
  3. Produce an activity diagram that expresses the workflow for that use case.

Part B - System-wide/Non-functional Requirements (15 marks)

  1. Produce a system-wide (non-functional) requirement document that documents the architectural requirements the system must address.

Part C - Use Case Realization (30 marks)

  1. Develop a domain model for the Case Study. Express your model with a class diagram, showing any inheritance and compositional relationships.
  2. Develop a use case realization showing the sequence of messages involved for the use case selected for the full description in Part A. Express this use case realization in a communication diagrams. Use the GRASP concept of a Controller class to coordinate the use case.
  3. Translate the communication diagram produced for Task 6 into an equivalent sequence diagram.

Part D - Analysis Classes(10 marks)

  1. Prepare a summary analysis class diagram showing the attributes and methods required by problem domain classes involved in the use case realized in Part C.

Part E - Object Interactions (10 marks)

  1. Prepare operation specifications for the two most complex methods contained in one of the nominated objects specified for the Case Study.

Part F - Object State (10 marks)

  1. Create a state diagram for the object chosen for Part E. Nominated objects will be listed in the Case Study.

Rationale

This assignment elicits performance of taught skills in the architecture and design areas relevant to the following learning objectives:

  • be able to analyse and validate system requirements;
  • be able to produce and validate analysis and design models for a system;
  • be able to demonstrate use of a CASE tool to document the models in a system.

Marking criteria

Use Cases

  • Is a correct concept of use cases demonstrated?
  • Are sensible use cases identified?
  • Are all use cases identified?
  • Are any extraneous use cases included?
  • Is correct UML syntax used (system box, actors,use cases, extends/includes)?
  • Are all use cases described briefly?
  • Do use cases have sensible names (identifies intent with verb)?
  • Are the short use case descriptions sensible/correct?
  • Are the most critical and important use cases correctly identified?
  • Are normal and alternate flows identified in the full use case description?
  • Are pre-conditions and post-conditions identified in the full use case description?
  • Is the full use case description consistent with the case study?
  • Is the activity diagram consistent with full use case descriptions?
  • Does the activity diagram use correct UML syntax?

System-wide/Non-functional Requirements

  • Are all system-wide/non-functional requirements identified?
  • Are sensible inferences from the system-wide requirements discussed?
  • Are business rules identified and described?
  • Are all domain objects identified?
  • Are any extraneous objects included?
  • Are inheritance relationships correctly identified?
  • Are composition/aggregation relationships correctly identified?

Use Case Realizations

  • Is there a coherent sequence of messages?
  • Are the messages consistent with Domain model?
  • Does the message sequence support the use case as described?
  • Does the communication diagram use correct UML syntax?
  • Is the sequence diagram consistent with the communication diagram?
  • Is there a coherent sequence of messages (no miracles)?
  • Is the sequence diagram consistent with the domain model?
  • Does the sequence diagram support the use case as described?
  • Does the sequence diagram use correct UML syntax?

Summary Analysis Class Diagram

  • Is the summary analysis class diagram consistent with the use case realization?
  • Is the summary analysis class diagram consistent with the domain model?
  • Are all methods required by use case realizations identified?
  • Are all attributes necessary to support methods identified?
  • Does the summary analysis class diagram use correct UML syntax?

Operation Specification

  • Is the operation specification consistent with the use case realization?
  • Is the operation specification consistent with the domain model?
  • Are pre-conditions identified and specified?
  • Are post-conditions identified and specified?
  • Are parameter types and rangesspecified?
  • Is business logic specified?

State Diagram

  • Is a correct concept of states and transitions displayed?
  • Is the state diagram consistent with the use case realization?
  • Are sensible additional transitions identified?
default image
July 1, 2023
    

The assignment revolves around the Case Study, which may be found as a separate PDF document in the Resources section of the subject Interact site.

Objective

To apply and consolidate skills acquired in the requirement and analysis disciplines through analysis of a simple case study, and to express the results through the relevant UML diagrams.

Tasks

Part A - Use Cases (25 marks)

  1. Perform a requirements analysis for the Case Study. Express the results using the following artefacts:
    1. A use case diagram for the functional requirements of the entire system, accompanied by:
    2. Short use case descriptions for all use cases.
  2. Select the most essential (critical core) use case in the system, and produce a full use case description for it .
  3. Produce an activity diagram that expresses the workflow for that use case.

Part B - System-wide/Non-functional Requirements (15 marks)

  1. Produce a system-wide (non-functional) requirement document that documents the architectural requirements the system must address.

Part C - Use Case Realization (30 marks)

  1. Develop a domain model for the Case Study. Express your model with a class diagram, showing any inheritance and compositional relationships.
  2. Develop a use case realization showing the sequence of messages involved for the use case selected for the full description in Part A. Express this use case realization in a communication diagrams. Use the GRASP concept of a Controller class to coordinate the use case.
  3. Translate the communication diagram produced for Task 6 into an equivalent sequence diagram.

Part D - Analysis Classes(10 marks)

  1. Prepare a summary analysis class diagram showing the attributes and methods required by problem domain classes involved in the use case realized in Part C.

Part E - Object Interactions (10 marks)

  1. Prepare operation specifications for the two most complex methods contained in one of the nominated objects specified for the Case Study.

Part F - Object State (10 marks)

  1. Create a state diagram for the object chosen for Part E. Nominated objects will be listed in the Case Study.

Rationale

This assignment elicits performance of taught skills in the architecture and design areas relevant to the following learning objectives:

  • be able to analyse and validate system requirements;
  • be able to produce and validate analysis and design models for a system;
  • be able to demonstrate use of a CASE tool to document the models in a system.

Marking criteria

Use Cases

  • Is a correct concept of use cases demonstrated?
  • Are sensible use cases identified?
  • Are all use cases identified?
  • Are any extraneous use cases included?
  • Is correct UML syntax used (system box, actors,use cases, extends/includes)?
  • Are all use cases described briefly?
  • Do use cases have sensible names (identifies intent with verb)?
  • Are the short use case descriptions sensible/correct?
  • Are the most critical and important use cases correctly identified?
  • Are normal and alternate flows identified in the full use case description?
  • Are pre-conditions and post-conditions identified in the full use case description?
  • Is the full use case description consistent with the case study?
  • Is the activity diagram consistent with full use case descriptions?
  • Does the activity diagram use correct UML syntax?

System-wide/Non-functional Requirements

  • Are all system-wide/non-functional requirements identified?
  • Are sensible inferences from the system-wide requirements discussed?
  • Are business rules identified and described?
  • Are all domain objects identified?
  • Are any extraneous objects included?
  • Are inheritance relationships correctly identified?
  • Are composition/aggregation relationships correctly identified?

Use Case Realizations

  • Is there a coherent sequence of messages?
  • Are the messages consistent with Domain model?
  • Does the message sequence support the use case as described?
  • Does the communication diagram use correct UML syntax?
  • Is the sequence diagram consistent with the communication diagram?
  • Is there a coherent sequence of messages (no miracles)?
  • Is the sequence diagram consistent with the domain model?
  • Does the sequence diagram support the use case as described?
  • Does the sequence diagram use correct UML syntax?

Summary Analysis Class Diagram

  • Is the summary analysis class diagram consistent with the use case realization?
  • Is the summary analysis class diagram consistent with the domain model?
  • Are all methods required by use case realizations identified?
  • Are all attributes necessary to support methods identified?
  • Does the summary analysis class diagram use correct UML syntax?

Operation Specification

  • Is the operation specification consistent with the use case realization?
  • Is the operation specification consistent with the domain model?
  • Are pre-conditions identified and specified?
  • Are post-conditions identified and specified?
  • Are parameter types and rangesspecified?
  • Is business logic specified?

State Diagram

  • Is a correct concept of states and transitions displayed?
  • Is the state diagram consistent with the use case realization?
  • Are sensible additional transitions identified?
default image
July 1, 2023
    

The assignment revolves around the Case Study, which may be found as a separate PDF document in the Resources section of the subject Interact site.

Objective

To apply and consolidate skills acquired in the requirement and analysis disciplines through analysis of a simple case study, and to express the results through the relevant UML diagrams.

Tasks

Part A - Use Cases (25 marks)

  1. Perform a requirements analysis for the Case Study. Express the results using the following artefacts:
    1. A use case diagram for the functional requirements of the entire system, accompanied by:
    2. Short use case descriptions for all use cases.
  2. Select the most essential (critical core) use case in the system, and produce a full use case description for it .
  3. Produce an activity diagram that expresses the workflow for that use case.

Part B - System-wide/Non-functional Requirements (15 marks)

  1. Produce a system-wide (non-functional) requirement document that documents the architectural requirements the system must address.

Part C - Use Case Realization (30 marks)

  1. Develop a domain model for the Case Study. Express your model with a class diagram, showing any inheritance and compositional relationships.
  2. Develop a use case realization showing the sequence of messages involved for the use case selected for the full description in Part A. Express this use case realization in a communication diagrams. Use the GRASP concept of a Controller class to coordinate the use case.
  3. Translate the communication diagram produced for Task 6 into an equivalent sequence diagram.

Part D - Analysis Classes(10 marks)

  1. Prepare a summary analysis class diagram showing the attributes and methods required by problem domain classes involved in the use case realized in Part C.

Part E - Object Interactions (10 marks)

  1. Prepare operation specifications for the two most complex methods contained in one of the nominated objects specified for the Case Study.

Part F - Object State (10 marks)

  1. Create a state diagram for the object chosen for Part E. Nominated objects will be listed in the Case Study.

Rationale

This assignment elicits performance of taught skills in the architecture and design areas relevant to the following learning objectives:

  • be able to analyse and validate system requirements;
  • be able to produce and validate analysis and design models for a system;
  • be able to demonstrate use of a CASE tool to document the models in a system.

Marking criteria

Use Cases

  • Is a correct concept of use cases demonstrated?
  • Are sensible use cases identified?
  • Are all use cases identified?
  • Are any extraneous use cases included?
  • Is correct UML syntax used (system box, actors,use cases, extends/includes)?
  • Are all use cases described briefly?
  • Do use cases have sensible names (identifies intent with verb)?
  • Are the short use case descriptions sensible/correct?
  • Are the most critical and important use cases correctly identified?
  • Are normal and alternate flows identified in the full use case description?
  • Are pre-conditions and post-conditions identified in the full use case description?
  • Is the full use case description consistent with the case study?
  • Is the activity diagram consistent with full use case descriptions?
  • Does the activity diagram use correct UML syntax?

System-wide/Non-functional Requirements

  • Are all system-wide/non-functional requirements identified?
  • Are sensible inferences from the system-wide requirements discussed?
  • Are business rules identified and described?
  • Are all domain objects identified?
  • Are any extraneous objects included?
  • Are inheritance relationships correctly identified?
  • Are composition/aggregation relationships correctly identified?

Use Case Realizations

  • Is there a coherent sequence of messages?
  • Are the messages consistent with Domain model?
  • Does the message sequence support the use case as described?
  • Does the communication diagram use correct UML syntax?
  • Is the sequence diagram consistent with the communication diagram?
  • Is there a coherent sequence of messages (no miracles)?
  • Is the sequence diagram consistent with the domain model?
  • Does the sequence diagram support the use case as described?
  • Does the sequence diagram use correct UML syntax?

Summary Analysis Class Diagram

  • Is the summary analysis class diagram consistent with the use case realization?
  • Is the summary analysis class diagram consistent with the domain model?
  • Are all methods required by use case realizations identified?
  • Are all attributes necessary to support methods identified?
  • Does the summary analysis class diagram use correct UML syntax?

Operation Specification

  • Is the operation specification consistent with the use case realization?
  • Is the operation specification consistent with the domain model?
  • Are pre-conditions identified and specified?
  • Are post-conditions identified and specified?
  • Are parameter types and rangesspecified?
  • Is business logic specified?

State Diagram

  • Is a correct concept of states and transitions displayed?
  • Is the state diagram consistent with the use case realization?
  • Are sensible additional transitions identified?
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