Elaborate Answers on Economics to Spin the Wheel of Fortune Today : Page - 36

Question 1 Question 1 (a) Nepal is a major exporter of textile and plastics. The following production possibility curve (PPC) represents the textile and plastics output of the economy, with various production bundles: State if the following statements are TRUE or FALSE. Provide a short explanation for your answer. (i) A decision to produce bundle D instead of bundle B will lead to an opportunity cost of 70 units of plastics. (ii) Productio...

Course Code   :  BUS020C407A

Course Title   :  Business Organisations in a Global Economy

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Assessment RequirementsInstructions for assessment The coursework assignment requires students to submit a 2500 word report by the above deadline. The basis for the report involves students being allocated a country in which they need to provide an assessment of the business environment prevailing in that country. Another important feature of the report is that it should be focused around a particular business organisation. Therefore, the repor...

You will read the article Zombie Economics by Patrick McCormick and answer the following questions.  1.     What is the purpose of the article?Answer: 2.    How is the ‘zombie metaphor’ used to relate to economics?3.    Why, in your opinion, do you think that zombies are a popular metaphor?4.    In the last paragraph of the article, the author offers a solution to the pr...

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The following question has to be addressed: 1. What was the main cause of the Global Financial Crisis (GFC) and why it has spread internationally? Do you believe that it could have been prevented? Choose two of the following questions:  2. One of the tools Australia and many other countries have used to fight the recession trends was to cut cash rates. The Reserve Bank of Australia has itself cut the cash rate from 6.75% in January 2008 to 2...

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Question 1 Suppose an hour’s labour produces 10 kg of rice and 5 meter of cloth in India, and 5 kg and 2 meter in Thailand. Using opportunity costs, explain which country will export cloth and which will export rice in trade? (10 marks) Question 2 Suppose Mike and Johnson produce two products-hamburgers and T-shirts. Mike produces 10 hamburgers or 3 T-shirts a day and Johnson produces 7 hamburgers or 4 T-shirts. Assuming they can devote...

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Answer the following questions from Table 1-1 – must show workings 1.1a.Which country has an absolute advantage in the production of motorcycles? 2.1b.Which country has an absolute advantage in the production of guitars? 3.1c.What is Ireland's opportunity cost of producing one motorcycle? 4.1d.What is Scotland's opportunity cost of producing one motorcycle? 5.1e.What is Ireland's opportunity cost of producing one guitar? 6.1f.What is ...