Other Economics Answers

A radio and a cycle together cost ₹1200. If the price of the former rises by 20%, and 

that of the latter by 25%, the two together would cost ₹1460. Find their former prices.

1. What is International Economics?

2. What is the difference between international trade and international finance? (Give examples)

3. Explain what is pattern of trade, by giving examples.

4. What is Balance of payment?

Many thinkers believe that we are rapidly depleting our natural resources. Assume that these are only two inputs (labour and natural resources) producing two goods (wheat and gasoline) with no improvement in technology over time. Show what would happen to the production possibility curve over time as natural resources are exhausted. How would invention and technological improvement modify your answer? On the basis of this example, explain why it is said "economic growth is a race between depletion and invention".

The British Columbia government recently increased the minimum wage from $14.60 per hour to $15.20 per hour. The new minimum wage was implemented as of June 1, 2021. Drawing from what you have learnt on the topic “labour demand” and from related literature, what do you think might be the implications on employment and wages in the Province?

Word limit: 140

which statistic measures the number of new building permits issued in a city or metropolitan

 Choose two products and explain why you think their demand is price elastic or price

inelastic. Be sure to consider the two factors that determine price elasticity in preparing

your answer.

Discuss the ways in which the concept of the elasticity of demand might be of value to the managing director of an international supermarket chain.

p5-16 time value comparisons of single amounts. in exchange for a $20,000 payment today, a well-known company will allow you to choose one of the alternatives shown in the following table. your opportunity cost is 11%