DIR Return Create A Forum - Home
---------------------------------------------------------
nonnyje
HTML https://nonnyje.createaforum.com
---------------------------------------------------------
*****************************************************
DIR Return to: General Discussion
*****************************************************
#Post#: 41--------------------------------------------------
100% CORRECT ECONOMICS ANSWERS
By: nonnyje Date: September 21, 2012, 10:52 am
---------------------------------------------------------
100% CORRECT ECONOMICS ANSWERS
ANSWERS
(3a) Free trade is a Trade between nations without protective
customs tariffs.
why free trade does not exist
1. To correct balance of payments deficit.
2. To protect infant industries
four instrument of trade restriction
1. Trariff: Also know as import duty is taw imposed on goods
that come from other countries into a particular countriy.
2. Import Quota: it specifies the quantity of goods that will
come from different countries.
3. Import Lincence: This is d authority given to an importer by
the government of a country to import specified goods.
4. :
(4a)
Value of money: the value of money is define as the quantity of
goods and services which a given amount of money can buy. in
another word, the value of money refers to the purchasing power
of money
4b) Quality of money are:
i) portability
ii) homogenity
iii) durability
iv) stability
4c)
i) Transactionary motives: this is desire to keep money for day
to day transaction
ii) Precautionary motives: this is when people demand for money
in other to meet up with unforseen circumstances or unexpected
expenditure
iiii) Speculative motive: This motive is specificially a
businees motives and refers to the desire to hold cash balance
in other to embark on speculative dealing in the bond market
(11a)
i) they are owned by two or more persons
ii) membership is open to those who fulfill certain conditions
iii) they apply the principles of democracy
iv) they hold meetings at regular interval
11b)
i)savings
ii) borrowing
iii) merging of firms
iv) loans and overdraft
(7a) subsistence farming can be defined as the system of farming
whereby a farmer cultivates crops and rears animals for the
purpose of producing food for himself and his family only.This
type of farming is also known as peasant farming.
(7bi)Green Revolution
(ii)National Agricultural Insurance Scheme
(7c)provision of farm input :Farm input like fertilizers,farm
tools and implement should be available to the farmers at a
subsidized rate
(ii)Provision of credit facilities to farmers.
(iii)Provision of storage and processing facilities
(iv)Provision of agricultural education and research findings.
(12a) Tabulate
Commercial bank -
(i)provide short term loan.
(ii) render personal service such as keeping jewleries and wills
(iii) do not carry eqipment leasing.
(iv) accept deosit from all categories of people.
MERCHANT BANKS -
(i) provide medium and long term loan
(ii) render co operate financial services.
(iii)undertake equipment leasing
(iv) accept only large deposit
12b)
(i) discounting bill of exchange: merchant banks accept and
discount bill of exchange
(ii) merchant banks gives loans to foreign traders
(iii) they act as advisers to companies in areas to invest
(iV) they under write new issues of shares.
8ai)
This is defined as the process whereby the
level of national
production or per capita income increases over a
period of time.
(8aii)It is defined as the process by which the productive
capacity of an economy increases over a period leading to
a rise in the level of the national income.
(8b)
(i)to increase the level of development
(ii)to develop efficient technology
(iii) to increase the real income of citizens
(iv)to diversify the economy
(v)to achieve economic self sufficiency
(9a) minImum wage is the minimum amount workers must earn
(9b) money wage is also called norminal wage, it is the total
amount of money paid to all labourer at a particular period of
time while real wage refers to the total amount or quantity of
goods and services the labour can use is money to buy
(9c)
(i) Differences in cost of training : training cost a lot of
money to train professionals
(ii) differences in period of training : some profession attract
longer period of training
(iii) skill needed at work : some professions that require
special skills during training tend to have higher wages
(iv) forces of supply and demands: when the demands for a
particular labour is high than the supply, such labour tends to
receive higher wages.
(1ai) Qd=28-4d,Qd=28-4(2.5)
,Qd=28-10,Qd=18units
(aii)
Qd=28-4(3.5)
,Qd=28-14=14units,
(1aiii)
Qd=28-4(4.5)
,Qd=28-18=10units,
(1aiv)
Qd=28-4(5.5)
,Qd=28-22=6units,
(1av)
Qd=28-4(7)
,Qd=28-28=0units
(1b)R1=18units*$
2.50=45.00,R2=14units*$
3.5=49.00,R3=10units*$
4.5=45.00,R4=6units*$
5.5=33.00,R5=0unit*$
7.0=0.00
(1ci)coefficient of price elasticity of demand=(% change in
Qd)/(% change in price)*100. %change in
Qd= (18-14)
*100/18=22.22% ,again,% change in price= (3.5-2.5)
*100/2.5=1*100/2.5=40%
,coefficient=(22.22%*100)
/40%=55.55.
(1cii)Yes it is elastic.
(1ciii)because the
coefficient is more than 1.
100% CORRECT ECONOMICS OBJ ANSWERS
L0ading.........
Invite Your Friends To Pass Their Exams
*****************************************************