Q.(a) Define economic systems. (6 marks) (b) List FOUR (4) assumptions in Production Possibility Curve (PPC). (4 marks) (c) Explain the following concepts. (i) Scarcity(ii) Choices(iii) Opportunity Cost Give an Read More …
Category: 2016 D03 Eco
Equilibrium in Demand and Supply Q2
Q.Table 1 below shows the demand and supply for single storey terrace houses in Semenyih, Selangor. (a) Based on the information above, determine the market condition for each of the Read More …
Elasticity Calculations Q3
Q.(a) If income increases from RM2,000 per month to RM5,000 per month and the quantity of demand for single storey terrace increases from 90 to 100 units, (i) Calculate the Read More …
Various Costs in Production Q4
Q.Table 3 shows the behavior of various types of costs in the short run of vinyl floor production. (a) If the production fixed cost is at RM20 per quantity, what Read More …
Money & Business Cycle Q5
Q. (a) Explain any TWO (2) of the following types of money. (i) Commodity Money (ii) Fiat Money (iii) Legal Tender (iv) Token Money (v) Demand Deposits/Current Accounts (5 marks) Read More …
International Trade & Domestic Trade Q6
Q. (a) Explain any THREE (3) of the following terms in relation to International Trade and Domestic Trade. (i) Mobility of Production (ii) Size of Market and Total Transaction (iii) Read More …
Perfect Competition in Real Estate Market Q7
Q.(a) Explain the following characteristics in relation to real estate market and perfect competition market. (i) Numbers of buyers and sellers(ii) Types of products(iii) Knowledge of the market (15 marks) Read More …
Terms for Economics Q8
Q. (a) State any TWO (2) types of government budget. (5 marks) (b) State TWO (2) functions of Central Bank. (5 marks) (c) Define direct tax and give TWO (2) Read More …