Other Economics Answers

ANSWER THE FOLLOWING QUESTIONS

1. What is the main product category or sector which is the most important one in recent years, as compared to 70 years back? Explain!

2. With the use of mathematical equation, explain gravity model.

3. What is the relationship of the following variables with trade? Explain!

a. distance

b. income

4. Identify and explain 5 determinants of trade, that you know.

5. Is there any empirical evidence to support the prediction of gravity model? Explain

Directions: Analyze the following questions and provide your answer.

1. How is tax the lifeblood of the government?

2. Should there be a uniform minimum wage in the whole country of the Philippines? Why or why not?

Topic: Minimum Wage and Taxes

Directions: Make a generalization on how minimum wage and taxes can be applied on the very essence of learning Applied Economics. answer using 3-5 sentences only.

A company leases a building for $100,000 per year for it manufacturing. In addition, the

machinery in the building is being paid for O&M cost $20,000 per year. Each unit of the product

produced costs $15 in labor and $10 in materials. The product can be sold for $40 per unit.

Determine

a)

How many units per year must be sold for the company to breakeven.

b)

The annual profit If 10,000 units per year are sold.

If international price decreases, and you are consumers, which policy would you prefer to, unchanged tariffs or unchanged import quotas?

A major bank in the country wants to launch a new investment scheme. However, they are not sure whether it will be a success of failure among the consumers. To arrive at a conclusion, they may outsource the research activities to a well-known research firm in the city. The bank has asked the firm to submit a research strategy by the end of the coming week so that the bank can decide if it would be feasible for them to move further. Answer the following questions: What is the purpose of having a research strategy? Discuss the various research strategies that you know about.

You are to type thirty objective and five theory question from waec past question on the (1):the definition,basic concept and problem and scope of economics.(2):economic system,free market economy,command economy and the mixed economy system.

Explain macro and micro factors of India’s economic backwardness ?