Qualification > Commerce

MCQ. ECONOMICS P1

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missbeautiful789:
Hey guyz...
PLease would some one help me on a mc paper
2002 may/june
-Q1..the answer is A but why not B
-Q4 the answer is A but why not D
-Q5  answer is C why not the rest :)
-Q7 answer is D, which i got correct, but why not B
-Q13-16

Freaked12:

--- Quote from: Salahuddin_Ansari on November 04, 2010, 03:14:24 pm ---Hey guyz...
PLease would some one help me on a mc paper
2002 may/june
-Q1..the answer is A but why not B
-Q4 the answer is A but why not D
-Q5  answer is C why not the rest :)
-Q7 answer is D, which i got correct, but why not B
-Q13-16

--- End quote ---
1 is A because the PPF will shift inward if the labor force shrinks, the supply of raw materials is depleted, or a natural disaster strikes.
Shrinking of labour could also mean more machinery is being employed by Firms which will boost production.
4- Balancing social costs and benefits is the main objective in a Planned economy.Government will try to finish the negative externalities and bring in more positive externalities.
5-It must be limited in Supply because if there is no shortage, there will be no value of money and therefore people would stop trusting money as a source of payment.

Freaked12:
16-The triangular area x in the diagram
measures the deadweight loss to society from producing output OQ. The social cost is the area below the
MSC curve.

taken from examiner report

missbeautiful789:

--- Quote from: Requiem on November 04, 2010, 03:44:28 pm ---16-The triangular area x in the diagram
measures the deadweight loss to society from producing output OQ. The social cost is the area below the
MSC curve.

taken from examiner report

--- End quote ---

Thanx +rep..:)
 Please help with Q10 and 11.. dont get the examiners report

Freaked12:
yes wait

i am trying to form a logical explaination

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