Allama Iqbal Open University Archives

Concept of Stock Market

October 31, 2012 No Comments

Discuss the concept of Stock Market with special reference to Pakistan. Definitions A stock exchange is an organized market place in which securities such as bonds and common and preferred stocks are bought and sold. The origins of today’s stock exchanges unusually were informal gatherings of merchants and others who traded securities. The Stock Exchange for Stock Market is the market place of join stock companies, where stock certificates of big business enterprises, debentures, government bonds and bills of exchange are bought and sold. Those who have surplus cash with them and are interested to earn interest or profit without doing business by themselves purchase shares or bonds etc. at the stock exchange. In case they fall in need of money they sell these financial assets at the stock exchange. Role and Performance of Stock Exchange Money invested in stock exchange plays the double role for investment. On one hand, […]

Basic Concepts of Social Sciences

What is inflation?how it can be controlled?

October 30, 2012 No Comments

What is inflation? Describe its root causes. Also explain how it can be controlled? Inflation: Inflation means generally rising money prices of goods and services. To understand what inflation is and is not, consider the above definition in detail: Goods and services: This refers not to stocks or bonds of other financial assets, but to the tangible and intangible commodities economic agents produce and sell to one another. These are commodities to be consumed or held for future use; e.g. food, haircuts, shelter, houses, health care, schooling, cars, tractors, machine tools. Money prices: This refers to amounts of money, dollars and cents in the United States, per commodity unit, e.g., per pound of butter, gallon of gasoline, haircut, bus trip, kilowatt hours, or diesel engine. In contrast, imagine the barter prices at which one commodity trades for another; e.g., 3 gallons of a gas for 1 hour of labour, two […]

Basic Concepts of Social Sciences

Industrialism and Modernization

October 23, 2012 No Comments

Define modernization. Explain social effects of modernization with relevant examples. Also explain different types of authority. Industrialism and Modernization: Modernization is the process of economic and social change that is brought about by the introduction of the industrial mode of production into a society. The Process of Modernization: Only a few centuries ago, population consisted of a large, number of localized and isolated societies whose members lived on hunting, gathering, horticulture, or agriculture. The industrial revolution introduced an entirely new types of society, one that produced tremendous wealth. But, it also destroyed traditional forms of social organizations and created new ones in their place. This process of change in the early industrial societies of Europe was spread over several generations, and culture and social organizations were able to adapt to these changing conditions, but, in the less developed part of the world, change has come more rapidly and with more […]

Basic Concepts of Social Sciences

The Concept of Social Institution

October 22, 2012 No Comments

What is meant by social institution? Elaborate the multidimensional functions and characteristics of family? The Concept of Social Institution In every society there are certain basic social needs, it is a must for the society to meet these needs for the survival and satisfaction of its members. In each society, therefore, people create social institutions to meet these needs. What is an institution? The sociological concept of the term is different from its common usage. An institution is not a building; it is not a group of people; it is not an organization; An institution is a system of norms to achieve some goal or activity that people feel is important, or more formally, an organized cluster of folkways and mores centered around a major human activity. Institution are structured processes through which people carry on their activities. Institutions do not have members; they have followers. This is a […]

Basic Concepts of Social Sciences

Sociology, Basic characteristics, Theoretical Perspectives of Sociology

October 18, 2012 No Comments

What is Sociology? What are its basic characteristics? Explain major theoretical perspectives of Sociology? Definition of Sociology The subject has been looked from various points of view and now it is an opportune time to define the subject properly. According to P.A. Sorokin “sociology is a generalizing science of socio-cuitural phenomena viewed in their generic forms, types, and manifold interconnections. ” (Bierstedt, 1970. 3-28) Sociology is the scientific study of human society and social behaviour. The subject matter of sociology is huge and complex, and the knowledge produced by sociological research is still imperfect in many ways. However, it has taught us a great deal about ourselves. (RotarTson, 1977 :3) No formal definition of sociology is very satisfactory. Short definitions don’t really define; long definitions are clumsy. Yet a definition of some sort is needed, and sociology is often defined as the scientific study of human social life.. Human beings […]

Theories of Mass Communication

Conditions of Media Effectiveness

October 16, 2012 No Comments

Conditions of Media Effectiveness: Lazarsfeld and Merton say three conditions are required for media effectiveness: monopolization; canalization rather than change of basic values; and supplementary face-to-face contact. Monopolization occurs in the absence of mass media counterpropaganda. It exists not only in authoritarian societies but also in any society in which there is an absence of countering views on any issue, value, policy, or public image. Sometimes this near or complete absence is illustrated by the fact that when a “sacred” institution is questioned by the media, the article or program becomes the center of a storm of controversy and is remembered years later as an outstanding exception to the norm. An example is the CBS documentary “The Selling of the Pentagon,” which raised the question of what were termed “improper military information activities.” Many critics of the documentary generalized their criticism and said the program was an attack on the […]