Tuesday, 24 April 2012

CONFIRM ECONOMISE THEORY AND OBJECTIVE ANSWERS

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ECONS OBJECTIVE

1-10 DACDBDDADC

11-20 DACDDCDBBB

21-30 DBDDCCDDAB

31-40 CDADCADDAD

41-50 CBDABBBCCB

Answer to theory

Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another Motives for holding Money-:

i.) Transaction motives:To make payments or purchases

ii.) Precautionary motives: To meet unforseen contingencies

iii.) Speculative motives: It being the safest asset in wealth portfolio. Other assests possess uncertainty and no liquidity.

8a) a market is an arrangement in which two or more pple are bought together for τ̲̅ђe purpose of business transaction eg through telephone,telex,gsm, fax etc

8b) features of monopoly= no fixed price, τ̲̅ђey re more buyers, existence of only one firm eg PHCN

8c)sources of monopoly= i) natural monopoly- some countries are endowed with argircultural and mineral resources dan others maing dem monopolistic over others

ii) merger- a group of firm which produces similar products may join to form a single body to drive away competitiors

iii)govt policy- through govt policy, certain essential services are supplied via a single source eg electricity supplied by only PHCN.

ECONOMICS THEORY QUESTIONS

1. The table below show expected revenue from budget.

Item amount($) rent,royalties & profit 75.0 company income 100.00

Table 2 projected revenue item amount gen admin 220.10 maitance of forieng mision 50.00

transfer 3.non tax souces determine total

1.capital expenditure

2.recurent expenditure

Determine wether da budget is a surplus or deficit

Que. Explain da folowing factors that affect d demand for a comodity X br /> a.a decrease in price of a complement Y;

b.an increase in consumer disposabl income [Receiving Text]law as a theory of intertional trade