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ECONOMICS
4TH OF AUGUST
QUESTIONS AND ANSWERS DROPPING ON THE 3RD OF AUGUST BY 10:00PM
OBJECTIVE:
ECONOMICS-OBJ
1BDCBCECDCD
11DBADBBADEE
21EADCCEAADD
31ECEBACBDBE
41BDABBBEBDD
51AACDBCCCDE
THEORY
You Are To Answer 5 (5) queries solely.
Answer One (1) From Section one and 4
(4) From Section 2 (2). Please note.
(1)
TABULATE
X: 20, 30, 40, 50, 60, 70
F: 10, 8, 20, 13, 6, 3
Fx: 200, 240, 800, 650, 360, 210
x-x-bar: -21, -11, -1, 4, 19, 29
(x-x-bar)²: 441, 121, 1, 81, 361, 841
F(x-x-bar)²: 4410, 968, 20, 1053, 2166, 2523
(1i)
Arithmetic mean (x-bar) = ∑fx/∑f = 2460/60 = forty one
(1ii)
Variance = ∑f(x-x-bar)²= 11140/60 = 185.67
Standard deviation= √variance
= √185.67
= 13.63
(1iii)
(i)It doesn't provides a fall vary of the info
(ii)It will be exhausting to calculate
(iii)It solely used with knowledge wherever Associate in Nursing variable quantity is premeditated against the frequency of it.
(2a)
%∆ in amount dd/ %∆ in financial gain = 100/150
= 0.667
%∆ in Qty Doctor of Divinity = ∆ In Qty Doctor of Divinity/ recent Qty dd * 100/1
= 10/10 * 100/1
= 100
%∆ in financial gain = ∆ in financial gain * 100/1
= 3000/2000 * 100/1
= 150
(2b)
Positive financial gain elasticity: this is often as a results of having additional amount demand for milk as financial gain will increase
(2c)
Luxurious product
(2d)
(i) amendment in worth connected trade goods
(ii) amendment in style and fashion
(iii) financial gain of the patron
(iv) advertizement
(3a)
Capital formation may be a term accustomed describe internet capital accumulation throughout Associate in Nursing accounting amount for a specific country
(3b)
(i) Low level of Natural financial gain and per capital financial gain; the foundation explanation for capital deficiency in under-developed countries is low level of real national and per capita income that limits to the motives of savings and investments. thanks to lack of desired investments, capital formation has no increase. Hence, thanks to low production, there's low national and per capita financial gain and, in turn, this forces to low capital formation.
(ii) Lack in demand of capital; Another explanation for low rate of capital formation in under-developed countries in lack of demand of capital. within the words of academician. Nurkse, “Low productivity in under-developed countries, individuals have low real financial gain and, thus, buying power is low then thanks to low demand.
(iii) Lack in provide of capital;Like demand of capital, lack of provide of capital is answerable for low capital formation. However, thanks to lack of necessary provide of capital in under-developed countries, the method of capital formation isn't boosted up. As a result, capital formation remains at low level.
(iv) Lack of Economic and social overheads; Basic overheads like roads, buildings, communication, education, water, health etc. square measure usually lacked in under-developed countries that react as improper atmosphere for the capital formation and slow method of capital formation.
(v) Lack of versatile entrepreneurs;Able and economical entrepreneurs aren't obtainable in under-developed countries. it's the sole reason for low rate of capital formation. thanks to absence of risk-taking entrepreneurs, institution of industries and growth is kind of restricted and industrial diversification isn't applied and no balanced development of economy is feasible.
(vi) Lack of effective economic policy;Lack of effective business policy or monetary policy in under-developed countries additionally retard capital formation to some extent. Burden of taxation is just too abundant that is out of people’s capability involved as their financial gain is kind of low. Besides, inflationary circumstances accrue and costs soar very high.
(4a)
A distributer may be a person whose business is shopping for massive quantities of products and marketing them in smaller amounts
(4b)
(i)High worth: Middlemen cause high price of products by adding price to the price of products
(ii) Increase in advertisement: The introduction of middlemen within the chain of distribution ends up in high price of making awareness to the client
(iii) Low profit: Middlemen can cut back the profit of the producer by increasing the price of production for the producer
(iv) Decrease in production: Middlemen can cause decrease in production of products which will have an effect on the worth of the products
(10a)
Internal trade is that the act {of shopping for|of shopping for} and marketing of products and services among a geographic region whereas External trade is that the buying and marketing of products and services between 2 or additional countries
(10b)
=SIMILARITIES=
(i)They each have interaction in exchange of products and services
(ii) They each have interaction in trade e
(iii) They each involve within the use of cash to facilitate trade
=DIFFERENCES=
TABULATE
>INTERNATIONAL TRADE
(i) shopping for and marketing is between 2 or additional countries
(ii) there's roadblock
(iii) It involves additional documentation
>EXTERNAL TRADE
(i) shopping for and marketing is among a rustic
(ii) there's no roadblock
(iii) It involves low documentation
(11)
(i)Source of revenue: to urge most financial gain into the govt purse, taxes square measure obligatory on product coming back in from different countries.
(ii)Reduction of state: This discourages importation and encourage kid industries to survive which is able to produce jobs for additional unemployment individuals
(iii) to enhance commonplace living: to assist the voters of a rustic to be self-sustaining and self sufficient
(iv)Balance of payment deficit: It helps to correct a country's balance of payment deficit within the long-standing time
(v)Trade restriction: this allows the subject to consume additional domestically created product rather than foreign product
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Thanks for your help and support love you all
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