Economics Answers

Key features of a monopolistic competitve industry compared to the south african stock market

The CNBC Accredited Investors article is an example of government intervention where we limit who can purchase a good for their own good, at least in theory, via regulation. I would call this a "soft" intervention compare to creating a whole federal agency like the FDA or CFPB. Contrary to what most people believe, financial advisors and financial planners do not have a government stamp of approval; their certifications are issued by the Financial Industry Regulatory Authority (FINRA), a private firm created by the financial industry to regulate their own practices. Basically, the FINRA decides who can have a investment license after passing exams and other educational requirements. What are the pros and cons of the current system? Do you think it is working well or do we need more government intervention?

1. Some healthcare companies and clinics have implemented hotlines for medical questions, sometimes under a Call a Nurse format to help people decide when/if they should see a doctor. Now imagine a hotline where instead of seeing a doctor face-to-face, you could have a phone consultation with a doctor, cheaper than an actual visit. Is this a needed market remedy? Would this practice help with health care costs? What about quality of service? Share your thoughts about this hypothetical yet plausible development in healthcare

Kofi and Ama have 120 hours each and they can spend their time planting Rice or Maize.
You are told that the opportunity cost of producing one bag of rice for Ama is 1/3 bag of
maize and the opportunity cost of producing one bag of rice for Kofi is ¼ bag of maize.
Ama can produce 6 bags of maize when she uses all her resource for maize production
and 1Kofi can produce 8 bags of rice when he uses all his resource .Use this to answer
the following questions:
a) If Ama decides to use all her resources for rice production, how many bags of rice will she
produce?
b) If Kofi decides to use all his resources for maize production how many bags of rice will he
produce
c) Who has the comparative advantage in planting rice?
d) Who has the comparative advantage in planting maize?
e) What is Kofi’s opportunity cost for planting maize?
f) What is Ama’s opportunity cost for planting TWO bags of rice?
g) Who has Absolute Advantage (AA) in Maize and who has AA in Rice? �

Assume that the market price for a 5kg bag of rice is R80 and the government has announced that a 5kg bag
of rice cannot be sold for less than R100.
With the aid of a well labelled diagram, explain the effect the above government decision will have in the
market for rice.

A country produces ethanol from sugar, and the land used to grow sugar can be used to grow food crops.Suppose that country’s production possibilities for ethanol and food crops are as follows.
Ethanol(barrels Food crops(tons per
per day) day)
70 0
64 1
54 2
40 3
22 4
0 5
1) a) Draw a graph of the country’s production possibilities curve and explain how the graph illustrates scarcity.
2) b) If this country produces 49 barrels of ethanol a day, mhow much food must it produce to achieve production efficiency?
3) c) why does this country face a trade off on its PPC?

All economic questions arise from scarcity. Explain this.

Every choice is a trade off. Explain this.

it is orthodox to say people’s desire has no boundary from the time past, even in the face realistic limited resources, individual agents never stop to want more of economic output”

I have a Gst credit of 15,000

Does PAYG withholding and installment take away from it
1,500 and 6,000

From that would i get a refund of 7,500?