economics
Course:
BUECO5903
BUSINESS ECONOMICS
Date:
Wednesday 13, October, 2010
Reading Commences:
Writing Commences:
Duration:
3 hours
Venue:
Off Campus Partner Providers
Course Coordinator:
Paul McPhee
Total marks:
60
Instructions to candidates:
1. Print your name and student number on the Examination Paper and Answer Book. At the conclusion of the examination you must hand in both the examination question paper and your answer booklet.
2. Attempt any three (3) questions from Part A, Microeconomics;
3. Attempt any three (3) questions from Part B, Macroeconomics;
4. All questions, except questions 4 and 14, are to be answered in the answer booklet provided;
5. Answer questions 4 and 14 on the Examination Question Paper;
6. Do not detach any portion of the examination paper.
7. Begin writing, as indicated, after the reading time has ended.
Materials allowed: Students are NOT permitted to bring any written materials or books into the examination except a hard standard bilingual language dictionary. Calculators without significant text storage capacity are permitted.
DO NOT REMOVE ANY PART OF THIS EXAM PAPER FROM THE EXAMINATION ROOM
Student Name:
Student ID:
Part A – Microeconomics:
Answer any three (3) of the following questions. Each question is worth 10 marks.
Question 1:
Indicate whether each of the following changes in price cause total revenue to increase, decrease or remain unchanged? Explain why. (2 marks each) a Price falls and demand is elastic;
b Price rises and demand is elastic;
c Price falls and demand is unitary elastic;
d Price rises and demand is unitary elastic;
e Price falls and demand is inelastic.
Question 2: a Define, describe and illustrate with a diagram, one opportunity cost for a person starting up their own business (2 marks)
b Explain the difference between
BUECO5903
BUSINESS ECONOMICS
Date:
Wednesday 13, October, 2010
Reading Commences:
Writing Commences:
Duration:
3 hours
Venue:
Off Campus Partner Providers
Course Coordinator:
Paul McPhee
Total marks:
60
Instructions to candidates:
1. Print your name and student number on the Examination Paper and Answer Book. At the conclusion of the examination you must hand in both the examination question paper and your answer booklet.
2. Attempt any three (3) questions from Part A, Microeconomics;
3. Attempt any three (3) questions from Part B, Macroeconomics;
4. All questions, except questions 4 and 14, are to be answered in the answer booklet provided;
5. Answer questions 4 and 14 on the Examination Question Paper;
6. Do not detach any portion of the examination paper.
7. Begin writing, as indicated, after the reading time has ended.
Materials allowed: Students are NOT permitted to bring any written materials or books into the examination except a hard standard bilingual language dictionary. Calculators without significant text storage capacity are permitted.
DO NOT REMOVE ANY PART OF THIS EXAM PAPER FROM THE EXAMINATION ROOM
Student Name:
Student ID:
Part A – Microeconomics:
Answer any three (3) of the following questions. Each question is worth 10 marks.
Question 1:
Indicate whether each of the following changes in price cause total revenue to increase, decrease or remain unchanged? Explain why. (2 marks each) a Price falls and demand is elastic;
b Price rises and demand is elastic;
c Price falls and demand is unitary elastic;
d Price rises and demand is unitary elastic;
e Price falls and demand is inelastic.
Question 2: a Define, describe and illustrate with a diagram, one opportunity cost for a person starting up their own business (2 marks)
b Explain the difference between