Other Economics Answers

The price elasticity demand for Mercedes Benz motor vehicles is probably

• A. elastic and more elastic than the total demand for motor vehicles.
• B. inelastic but more elastic than the total demand for motor vehicles.
• C. inelastic and less elastic than the total demand for motor vehicles.
• D. elastic but less elastic than the total demand for motor vehicles.

Sports shirts are frequently classified as S, M, L, XL for small, medium, large

and extra-large neck sizes. S fits a neck circumference of less than 37cm, M

fits between 37 and 40.5cm and L fits between 40.5cm and 44cm while XL fits

necks over 44cm in circumference. The neck circumference of adult males has

a normal distribution with  = 40cm and  = 2cm.

(i) What proportion of shirts should be manufactured in each category?

[6 marks]

(ii) If you wanted to define categories S, M, L, XL so that the categories contained

20%, 30%, 30% and 20% respectively, of the total population of

adult males, what neck sizes must you assign to each of the categories?

[6 marks]

The promotion of entrepreneurship is of paramount importance in any country in your opinion how should it be promoted at the following levels.

1.the national department of education

2.community involvement in entrepreneurship education

3.entrepreneurship at school level

The Namibian economy is closely linked to South Africa with the Namibian dollar pegged to the South African rand. Discuss the monetary arrangement & the peg and how it works. Please refer to the Common Monetary Area (CMA). Hint: Consult Bank of Namibia website.

Namibia’s small population of about 2.3 million is a curse rather than a blessing”. Use the

arguments of the neoclassical economic theory to discuss this statement.

Tourism could become an engine of growth and economic development. Discuss the current challenges facing tourism and the strategies proposed in the Fifth National Development Plan (NDP5) to promote and stimulate the tourism sector?