Human Resource Development

The Association of Business Executives Diploma EPAB1210 1.11 EPAB Economic Principles and their Application to Business Morning 29 November 2010 1 Time allowed: 3 hours. 2 SECTION A consists of a compulsory question comprising ?ve certain/FALSE elements. 3 Answer any THREE questions from a choice of sevensome in SECTION B. 4 on the whole questions carry 25 marks. Marks for subdivisions of questions ar shown in brackets. 5 No books, dictionaries, notes or any other written materials are allowed in this examination. 6 Calculators, including scienti?c calculators, are allowed providing they are not programmable and cannot store or recall information. Electronic dictionaries and personal organisers are NOT allowed. All workings should be shown. 7 Candidates who break ABE regulations, or drill any misconduct, will be disquali?ed from the examinations. 8 fountainhead papers must not be removed from the enquiry Hall. EPAB1210 © ABE 2010 L/500/3695 SECTION A Candidates must dish Question 1 (Compulsory) Q1 State whether each of the following statements (a-e) is TRUE or FALSE. Explain your answer clearly, using diagrams where appropriate. (a) A assume curve for a commodity is usually drawn on the assumption that factors in?uencing demand other than price are held constant.

(5 marks) Look at the diagram below which illustrates the marginal greet (MC) and the marginal revenue (MR) conditions for a pro?t exploit ?rm operating in a perfectly competitive market. worth (per unit) (£s) (b) MC MR 0 Q1 Q2 Q3 OUTPUT Under these conditions, the ?rm will maximise pro?ts at the production level Q2. (5 marks) (c) The following is an example of a positive frugal statement: An increase in income tax will apparent movement a rise in unemployment. (d) (5 marks) A depreciation of an free-spoken economys foreign exchange rate is plausibly to reduce the pressure of cost-push in?ation in that economy. (5 marks) Look at the table below which shows two countries, the UK and... If you want to get a full essay, order it on our website: Orderessay

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