Microeconomics > QUESTION PAPER (QP) > Microeconomics and Business Economics (All)
1 (a) Which one of the following does a point on a production possibility curve (PPC) represent? (1) A Where capital goods should be produced B How the production of all goods can be increased C ... Government revenue from production D A given amount of resources being fully employed Andreas is a plumber. Unlike his competitors, he is prepared to work at the weekend. However, he charges customers 50% more for his services at the weekend. (b) Which one of the following describes this economic assumption? (1) A Businesses aim to maximize their profit B Producers may complete charitable work C Consumers sometimes copy others’ behavior D Governments try to increase the number of days worked (c) What is meant by the term economies of scale? (2) .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... https://britishstudentroom.wordpress.com/*P65896A0324* Turn over 3 (d) State one example of a factor of production that can be classified as land. (1) .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... .................................................................................................................................................................................................................................................................................... (e) Define the term monopoly. [Show More]
Last updated: 1 year ago
Preview 1 out of 24 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Add to cartInstant download
We Accept:
Connected school, study & course
About the document
Uploaded On
Aug 10, 2022
Number of pages
24
Written in
This document has been written for:
Uploaded
Aug 10, 2022
Downloads
0
Views
50
In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.
We're available through e-mail, Twitter, Facebook, and live chat.
FAQ
Questions? Leave a message!
Copyright © Browsegrades · High quality services·