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[quote uid=merrylarry pid=1153] ECONOMICS OBJ Econs-Type A 1-10DADDDCBBEA 11-20 DEBCCACABE 21-30 CEAAAAABDE 31-40 DCECDBBAEC 41-50 AAABDDCCCC 51-60 EDECCDBDBE TYPE D 1-10 CCEBBCCADD 11-20 DCEECADABA 21-30 ECCDADABAE 31-40 BDACC-EECDC 41-50 BBBEDC-D-A 51-60 DCCBAEEDCA. ECONOMICS ANSWER Q1. Year |Population | Working Pop 2000 | 45 |20 2001. |60 |35 2002. |70 |48 2003 |80 |60 2004. |105 |75 1a) Population increase of growth rate in 2001 is = New - Old population = 60,000 - 45,000 = 15,000 Population growth rate in 2001 is = 15,000/45,000 x 100 = 33.33% Growth pop. in 2003 is = 80,000 - 70,000 = 10,000 Growth rate is = 10,000/70,000 x 100 = 14.29% Growth pop in 2004 is = 105,000 - 80,000 = 25,000 Growth rate is = 25,000/105,000 x 100 = 23.81% 1b) Percentage of working from 2002 - 2004 In 2002 Working pop = 45 Total pop = 70 = 45/70 x 100 = 64.28% In 2003 Working pop = 60 Total pop = 80 = 60/80 x 100 = 75% In 2004 Working pop = 78 Total pop= 105 = 78/105 x 100 = 74.21% Total % from 2002 to 2004 is 78 + 60 + 45 / 255 x 100 = 77.77% 1c. factors that can stimulate increase in population of a country. i. early marriage: peaple that who engage in early marriage and this leads to having many chirldren thereby increasing the size of country population. ii. inprove medical services: the availability of medical sevices has helped to reduce tha rate of death, hence population is sure to increase under this condition. iii. increase in birth rate: when thre is increase in bith rate as its desired in every family to have many chirldren in west African countries, so as the population os such countries inreased No6) Just choose five -The type of Account The Customer operates: Although non-account owners get loans, loans are normally given to current account owners more than those who operate savings accounts. - The Amount Involved: If it is a large sum of loan, the Bank Manager will consider whether if such an amount is removed, it will not affect the financial standing of the bank. -The Past Financial Dealings of the Customer with the Bank: one with sound past financial dealings with a bank has a higher chance of getting a loan and vice versa.(from 9jahub.com) -The Earning Power of The Customer: The person's earnings vis-a-vis the amount to be given out as loan are some of the determining factors in granting and issuing loans. -The Collateral Security Offered:These collateral securities which are fixed assets must be the things the bank can sell easily and more than the value of the loan given. -The Period of Repayment: The period of re-payment of such loan is very important because, the Bank would not want its loan to be tied down for a very long time in spite of the fact that it changes interest on the loan. (8) - The income of the customer - Close substitute of a commodity - Nature of commodity - Ones habit - Number of users to which a commodity is put THE INCOME OF THE CUSTOMER: The higher the consumers income, the more inelastic his demand for goods and services will tend to be. CLOSE SUBSTITUTE OF A COMMODITY: Commodities which have close subtitles tend to have a high price elasticity of demand while those that do not have close substitutes are likely to be elastic. NATURE OF COMMODITY: Whether the commodity is a necessity or a luxury items will affects the elasticity of demand. ONES HABIT: when one forms a habit on the consumption of a commodity, a change in the price of that commodity will not affects ones demand for it. NUMBER OF USERS TO WHICH A COMMODITY IS PUT: It is known that the more a commodity can be put into several uses, the more elastic the demand becomes and vice versa.(from 9jahub.com) (9a) MONOPOLISTIC COMPETITION: Is a market situation which combines the fundamental characteristics of both pure monopoly and perfect competition. This type of market situation exists because neither pure monopoly nor perfect competition exists in isolation and this is a result of absence of homogeneity and heterogeneity of products sold in both markets.(from 9jahub.co [/quote]