11 May DEFINE AND BRIEFLY EXPLAIN THE MEANING OF MARKET FOR LOANABLE FUNDS USING RELEVANT DEMAND AND SUPPLY CURVES.
State the laws of demand and law supply. Illustrate and explain how equilibrium price and equilibrium quantity are determined through the interaction of demand and supply.
[40 marks]
Explain the meaning of the following concepts and their relevance to decision-making in an organisation
Choice and opportunity cost
Law of diminishing returns
Increasing returns to scale and decreasing returns to scale
Negative and positive externalities
[15 marks each]
Question 2
Distinguish between a change in demand and change in quantity demanded of a named product.
[40 marks]
With the help of suitable diagrams, explain in each case what would happen to demand, supply and price of flats (apartments) in Bahrain if:
The population of Bahrain increases.
A new law place restrictions on non-residents purchasing flats.
Property developers build more flats.
There is a general increase in income of Bahrain residents.
New land becomes available for construction of flats.
The Bahrain Government decides to give interest free loan to first-time buyers of new flats
[10 marks each]
Question 3
Using appropriate diagrams briefly explain differences between a perfect competition and a pure monopoly in relation to each of the following criteria:
Number of buyers and seller
Freedom of entry or exit into the industry
Number and differentiation of products
Degree of elasticity of demand curve for firms product
[10 marks each]
Explain why a monopoly market is less efficient than a perfectly competitive market. If it is so, why do governments create monopolies by granting monopoly licenses in production and distribution?
[60 Marks]
Question 4-homework assignment
Explain the economic costs and benefits that business organisations in a named industry might experience if they decide to adopt a more socially responsible position. How might such costs and benefits change over the short- and long run?
[100 marks]
Question 5-homework assignment
Define and briefly explain the meaning of market for loanable funds using relevant demand and supply curves.
[40 marks]
Identify and explain factors that determine supply and demand of loanable funds in the market for loanable funds.
[60 marks]
Question 6-homework assignment
What do you understand by the term globalisation? Briefly explain how globalisation has affected two different firms in Bahrain or countries with which you are familiar.
[60 Marks]
Outline and explain three benefits and three costs that could be attributed to globalisation.
[40 Marks]
[END]
Answer TWO questions
Discuss the advantages and disadvantages of privatising state enterprises. Privatisation is often followed by the establishment of regulation over the privatised enterprise: what forms may this regulation take?
Corporate governance is concerned with ensuring that an organisation is run in a responsible manner with due regard to its key stakeholders. Why has this become a prominent issue in the business world today, and what is good corporate governance in practice?
Businesses in many countries will have to cope with changes in demand patterns as older consumers become more significant in the businesses’ markets and younger people less significant. Explore, with examples and using the economic tools of supply and demand analysis, some of the opportunities and challenges associated with these changing demand patterns. How might businesses become more informed about the changes in their markets?
Discuss the opportunities and challenges raised by membership of the World Trade Organisation for the businesses of an economy of your choice. Include reference to appropriate economic theory in your answer.
How will a business’s pricing strategy depend on the structure of the market in which it operates?
Why are there business cycles? Explain what (a) government, (b) the central bank, and (c) businesses should do when the economy is experiencing a recession, and why.
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