Describe the factors that can affect the size of a country's population.
Complete the following cost schedules and answer the questions that follow.
| Output | Total Cost TC | Average cost AC | Marginal Cost |
| 1 | 18 | 8 | - |
| 2 | 14 | ? | - |
| 3 | ? | 6 | - |
| 4 | 20 | ? | - |
| 5 | ? | 6 | - |
| 6 | 46 | ? | - |
(a) At what output is AC at the minimum?
(b)At what output is MC at the minimum
(c) At what output does AC start increasing?
(d) At what output does MC start to be greater than AC
(e) What is the maximum output?
The raw scores of 20 students of Utopia High School who took part in an examination in Economics are given below. The pass mark is 40%
38 28 70 43
39 20 64 66
12 46 52 53
20 34 48 69
18 20 64 34
(a) What is the mean score of the students' marks?
(b) How many students passed the examination?
(c) What percentage of the students failed the examination?
(d) What is the range of the scores?
(e) How many students scored below the mean score?
(a) Distinguish briefly but clearly between opportunity cost and money cost.
Discuss the factors that should motivate a producer to supply more of a commodity.
