Economics, Accounting & Business: Post your doubts here!

[SamiaSaad]

can anyone give me a brief on the tree type of union....the economic union customs trade area and free trade area

Free trade area: No internal tariffs, Different external tariffs, No mobility of labour allowed within the union
Custom Union: No internal tariffs, Common external tariffs, No mobility of labour allowed
Economic Union: No internal tariffs, Common external tariffs, Common currency, mobility of labour allowed within union

 

[SamiaSaad]

best of luck everyone

 

[Crimson-Saint]

Free trade area: No internal tariffs, Different external tariffs, No mobility of labour allowed within the union
Custom Union: No internal tariffs, Common external tariffs, No mobility of labour allowed
Economic Union: No internal tariffs, Common external tariffs, Common currency, mobility of labour allowed within union

just what i was loooking for ...thank you

 

[Crimson-Saint]

SamiaSaad ans is B

 

[Lostsoul]

SamiaSaad ans is B

View attachment 42430

One specialises in bowls, one in mugs, and one in plates. Absolute advantage. Hence, 100+100+100=300

 

[Lostsoul]

What would be likely to decrease Inflation in an economy?
Ans: an increase in labour productivity
Why?

Oct Nov 2007 Paper1 Economic

 

[Crimson-Saint]

What would be likely to decrease Inflation in an economy?
Ans: an increase in labour productivity
Why?

Oct Nov 2007 Paper1 Economic

as labor productivity increases...more and more goods would be produced so more supply this will lead to reduction in price of the products hence reducing risk of inflation

 

[Lostsoul]

24. Why is the answer B?

When is labour productivity most likely to increase?
Ans. When a firm employs more capital.

Oct Nov 2007

 

[Crimson-Saint]

24. Why is the answer B?

When is labour productivity most likely to increase?
Ans. When a firm employs more capital.

Oct Nov 2007

as more capital is brought..(machinery) the labor would use the machinery thus making it easier for them to produce twice as much products then they used to when they were doing it manually

 

[SamiaSaad]

SamiaSaad ans is B

View attachment 42430

Jane specializes in plates, Serah in bowls and Seema in mugs. SO 100+100+100= 300

 

[Lostsoul]

Oct Nov 2007:
Qstn. 13
How to attempt these type of qstns?

 

[zainabkhann]

why dont you read properly?

Hey can you please let me know what comes in a revaluation account I always get confused with it, and which assets are debited and which are credited

Is this correct tho?

Decreased assets : debit revaluation acc
Increased assets ; credit revaluation acc
Decreased liabilities : credit revaluation acc
Increased liabilities : debit revaluation acc

Please let me know

 

[Lostsoul]

Oct Nov 2007.
Qstn 11.
Someone pls help me from these diagrams

 

[SitiPutri]

M/J 2006. Answer: B



Could anyone help me with this question please? Can't seem to find the answer even after applying the formula T_T
I use -> Elasticity of demand = (change in quantity/change in price) * (initial price/initial quantity)

Thanks!

 

[unique111]

M/J 2006. Answer: B

View attachment 42445

Could anyone help me with this question please? Can't seem to find the answer even after applying the formula T_T
I use -> Elasticity of demand = (change in quantity/change in price) * (initial price/initial quantity)

Thanks!

PED:1
Simply apply ratios. The relationship between price and demand is inversely propotional so:
$ 12 : 4000
x : 20000

x = (12 x 4000)/20,000
x = 2.4

Credits: TheZodiac

 

[unique111]

M/J 2006. Answer: B

View attachment 42445

Could anyone help me with this question please? Can't seem to find the answer even after applying the formula T_T
I use -> Elasticity of demand = (change in quantity/change in price) * (initial price/initial quantity)

Thanks!

But even I don't understand why the formula doesn't work!

 

[unique111]

Somebody help!

http://papers.xtremepapers.com/CIE/...d AS Level/Economics (9708)/9708_s07_qp_1.pdf. Questions 11,25

 

[SitiPutri]

PED:1
Simply apply ratios. The relationship between price and demand is inversely propotional so:
$ 12 : 4000
x : 20000

x = (12 x 4000)/20,000
x = 2.4

Credits: TheZodiac

Thank you so much!

 

[SitiPutri]

Somebody help!

http://papers.xtremepapers.com/CIE/...d AS Level/Economics (9708)/9708_s07_qp_1.pdf. Questions 11,25

Q11: When Y increases in supply, it increases in price as well (direct relationship of supply). Thus, when Y increases in price, X, as the complement, is also able to rise its price as well. Again, due to direct relationship of supply, an increase in X's price will result in increase in supply as well.

Answer: D

 

[Lostsoul]

Did couple of papers, skimmed notes. Enough?
(Kinda having this bad feeling of the paper )