A. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
Calculate the size of the entire labour force in the country
Bi. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION
|
TOTAL |
|
Shoe production |
30 million
|
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
|
|
Baking |
19 million |
|
Laundry |
10.3 million |
What percentage of the labour force is engaged in the:
- Primary sector
Bii.Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
|
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
|
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
What percentage of the labour force is engaged in the:
- secondary sector
Biii. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
What percentage of the labour force is engaged in the:
- tertiary sector
C. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
Calculate the ratio of the workers in mining to the workers in shoe production.
D. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
| Fishing farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
Calculate the percentage of the people engaged in warehousing
Ei. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
Identify the type of economy depicted in the table
Eii. Table below shows the distribution of the population of a country in various occupation. Study it and answer the questions that follow.
Table
|
OCCUPATION |
TOTAL |
|
Shoe production |
30 million |
|
Banking |
37million |
|
Fish processing |
19million |
|
Warehousing |
12.2 million |
|
Mining |
16.1 million |
|
Fish farming |
10.8 million |
|
Food crop production |
15.6 million |
|
Baking |
19 million |
|
Laundry |
10.3 million |
- Give a reason for your answer in 1(e)(i)
A. Table 2 below shows the unit prices and quantities of hats produced bu a firm. Study it and answer the questions that follow:
Table 2
|
Quantity |
Unit Price($) | Total Revenue($) | Marginal Revenue($) |
Average Revenue($) |
|
10 |
180 | 1800 | --- |
180 |
|
20 |
150 | 3000 | 120 |
X |
|
30 |
U | 3600 | 60 |
120 |
| 40 | 100 | V | W |
Y |
| 50 | 80 | 4000 | 0 | 80 |
| 60 | 60 | 3600 | -40 |
60 |
Complete the values of U,V,W and Y
B.
|
Quantity |
Unit Price($) | Total Revenue($) | Marginal Revenue($) |
Average Revenue($) |
|
10 |
180 | 1800 | --- |
180 |
|
20 |
150 | 3000 | 120 |
X |
|
30 |
U | 3600 | 60 |
120 |
| 40 | 100 | V | W |
Y |
| 50 | 80 | 4000 | 0 | 80 |
| 60 | 60 | 3600 | -40 |
60 |
In what type of market is the firm operating? Explain your answer
C.
|
Quantity |
Unit Price($) | Total Revenue($) | Marginal Revenue($) |
Average Revenue($) |
|
10 |
180 | 1800 | --- |
180 |
|
20 |
150 | 3000 | 120 |
X |
|
30 |
U | 3600 | 60 |
120 |
| 40 | 100 | V | W |
Y |
| 50 | 80 | 4000 | 0 | 80 |
| 60 | 60 | 3600 | -40 |
60 |
If the firm's marginal cost is $60.00 at all level of outputs, at what level of output will it be in equilibrium? Explain your answer.
D.
|
Quantity |
Unit Price($) | Total Revenue($) | Marginal Revenue($) |
Average Revenue($) |
|
10 |
180 | 1800 | --- |
180 |
|
20 |
150 | 3000 | 120 |
X |
|
30 |
U | 3600 | 60 |
120 |
| 40 | 100 | V | W |
Y |
| 50 | 80 | 4000 | 0 | 80 |
| 60 | 60 | 3600 | -40 |
60 |
If a total cost of $600.00 is incurred when 50 units of hats are produced, determine the margin of profit or loss made
E.
|
Quantity |
Unit Price($) | Total Revenue($) | Marginal Revenue($) |
Average Revenue($) |
|
10 |
180 | 1800 | --- |
180 |
|
20 |
150 | 3000 | 120 |
X |
|
30 |
U | 3600 | 60 |
120 |
| 40 | 100 | V | W |
Y |
| 50 | 80 | 4000 | 0 | 80 |
| 60 | 60 | 3600 | -40 |
60 |
What is another name for marginal cost?
A. What is economic of scale?
B. Outline three internal economies of scale a firm can enjoy
C. State three factors that can influence where a firm is sited
A. Define product retailing
B. Outline any three roles performed by the wholesaler to the manufacturer
C. Identity any three problems associated with distribution of products
A. Define price elasticity of demand
B. Distinguishing between elastic demand and inelastic demand
Ci. Using diagrams, explain what happens to a trader's total revenue when his price falls given that demand for his product is:
- elastic
Cii. Using diagrams, explain what happens to a trader's total revenue when his price falls given that demand for his product is:
inelastic
