Economics Answers

To what extent do Economics teachers in South Africa comply with the continuous assessment

guidelines?

Given market demand Qd = 50 - P, and market supply P = Qs + 5

A) Find the market equilibrium price and quantity?

B) What would be the state of the market if market price was fixed at Birr 25 per unit?

C) Calculate and interpret price elasticity of demand at the equilibrium point

Question

Read / Examine the article by Du and Kamakura (2008) Journal of Marketing Vol. 72 and answer the following questions.

The authors discussed three major challenges that needs to be addressed while developing a proper budget allocation. List and discuss the three challenges based on your individual and local perspective.

Enter the following transactions in the accounts:

20X9 May 1

== 2

== 3

== 5

== 6

== 8

== 10

== 12

== 18

== 21

== 22

== 23

== 25

== 28

== 29

== 31

Started in business with £18,000 in the bank. Bought goods on credit from B Hind £1,455. Bought goods on credit from G Smart £472. Sold goods for cash £210.

We returned goods to B Hind £82.

Bought goods on credit from G Smart £370. Sold goods on credit to P Syme £483.

Sold goods for cash £305.

Took £250 of the cash and paid it into the bank. Bought a printer by cheque £620.

Sold goods on credit to H Buchan £394.

P Syme returned goods to us £160.

H Buchan returned goods to us £18.

We returned goods to G Smart £47.

We paid Hind by cheque £1,373.

Bought machinery on credit from A Cobb £419.

Question

Read / Examine the article by Du and Kamakura (2008) Journal of Marketing Vol. 72 and answer the following questions

(i) Refer to page 127 of the article and ascertain the key motivation of the research and evaluate how the ensuing discussions and model would fit into your own individual household consumption decision and choices.

Write up the accounts to record the following transactions:

20X7 March 1

== 2

== 3

== 5

== 8

== 15

== 17

== 24

== 31

Started business with £750 cash and £9,000 in the bank. Received a loan of £2,000 from B Blane by cheque.

Bought a computer for cash £600.

Bought display equipment on credit from Clearcount Ltd £420. Took £200 out of the bank and put it in the cash till.

Repaid part of Blane’s loan by cheque £500.

Paid amount owing to Clearcount Ltd £420 by cheque. Repaid part of Blane’s loan by cash £250.

Bought a printer on credit from F Jones for 200

Write up the accounts to record the following transactions:

20X7 March 1

== 2

== 3

== 5

== 8

== 15

== 17

== 24

== 31

Started business with £750 cash and £9,000 in the bank. Received a loan of £2,000 from B Blane by cheque.

Bought a computer for cash £600.

Bought display equipment on credit from Clearcount Ltd £420. Took £200 out of the bank and put it in the cash till.

Repaid part of Blane’s loan by cheque £500.

Paid amount owing to Clearcount Ltd £420 by cheque. Repaid part of Blane’s loan by cash £250.

Bought a printer on credit from F Jones for £200.

Chapter 2 l The double entry system for assets, liabilities and capital

What do you think will be the long-range impact of computers and other information-processing technology on police work and police administration? What has been the impact so far?

What do you think are the primary methods by which police organizations actually control their employees’ decision making?

11 1. Recall the lemons problem at the start of the chapter. Some used cars are peaches, worth $3,000 to buyers and $2,500 to sellers, and some are lemons,. worth $2,000 to buyers and $1,000 to sellers. There is a fixed supply of cars and unlimited demand. Suppose there are twice as many peaches as lemons. Assume buyers can't tell the quality of a given car, while sellers can. What do the supply and demand curves look like? In the text, we asserted that markets clear at $2,666.67. Are there other market clearing prices?

According to By the Numbers, what percent of total national debt and foreign held debt is held by China? How about OPEC nations? What does this suggest about the relative importance of U.S. relations with China and OPEC nations?