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Qn 1. "Much cheaper, light, shockproof and space-aged design are reasons why teenagers like me are grabbing the latest MP3 digital music players. I will not be seen using a cassette tape player. They are a product of my grandma's era!" a) What may cause changes in the demand schedule for a good like the MP3 player? (8) b) Discuss how a knowledge of elasticity might be of practical use to a firm Distinction Essay: Qn 2. "The Internet's early communalist enthusiasm for open-source software— which is free, unpatented and uncopyrighted— has now given way to a land-grab. Internet companies are rushing to patent their ideas." - The Economist, July 2000 a) Explain the likely market structure which economic theory suggests would exist in industries where patents are prevalent. (12) b) To what extent is the above trend bad for the consumer? (13) Distinction Essay (a) Qn 3 . Can economic analysis explain differentials in wages? Distinction Essay: Qn 4. Explain why governments are sometimes concerned with the level of national income in their countries and discuss the usefulness of these data in assessing the level of people's welfare. Distinction Essay: Qn 5. Explain what is meant by economic growth. Distinction Essay: Qn 6. "Scarcity is the fundamental problem faced by all economies." Distinction Essay: Qn 7. "The fact that mergers so often fail is not, of itself, a reason for companies to avoid them altogether. But it does mean that merging is never going to be a simple solution to a company's problems." Comment. Distinction Essay: Qn 8. "Rising prices are beneficial but falling prices are harmful to the economy of a country." Discuss. Distinction Essay: |
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Access to Prelim papers:
