(2a) Price|: Old #20, New #18 Quantity|: 500, 400 PES = DQ/DP x Po/Q PES = -100/-2 x 20/500 PES = 2 (2bi) Fairly elastic because the coefficient is greater than one. (2bii) Competitive supply. (2d) (i) Increase in demand (ii) Fall in the cost of production (iii) Favourable climate condition (iv) Increase in government grants and subsidy (7a) The normal chain of distribution is the path through which finished goods are moved from the manufacturer or producers to the final consumers. it is also the path through which ownership of product is transffered as it moves from the producer to the final consumers. diagram demostration of the chain of distribution (MANUFACTURER/ PRODUCER)--> WHOLESALER-->RE TAILER-- >FINAL CONSUMERS (5ai) Public limited liability company is owned by minimum member of persons without maximum numbers whereas ownership of private limited liability company range from minimum number of two to maximum number of 50. (5aii) The shares of a public limited liability company is issued to the members of the public directly on the floor of the stock market,whereas the shares of a private limited liability company is issued to selected persons. (5aiii) Public limited liability company are required to publish their financial statement for public view ,whereas private limited company are not allowed to public their financial statement. (5aiv) The name of the public PLLC must end with plc whereas the private LLC must end with Ltd. (5bi) Legal entity :limited liability company has a separate legal entity from its owners which entitles them to sue and be sued. (5bii) Large capital formation. The fund is raised through the issuance of shares to the public. Q4a Crop farming is the cultivation of plants for food, animal foodstuffs, or other commercial uses. The process of crop cultivation is one that requires a lot of hard work, knowledge about the crop in question, and patience. Use of modern Agricultural farm Tools and Equipments. [6a] (i)direct taxes are levied on income of individuals and corporate bodies while indirect taxes are levied on consumption or individual and corporate bodies (ii) tax yield from direct tax cam be pre- determined by the govt while the indirect tax cannot be pre- determined (iii)direct tax incidence falls on the tax payer whereas,the indirect tax incidence may be shared between the consumer or the producer depending on the price elasticity of demand (iv)income from indirect tax is the major source of govt revenue while that of a direct tax is not the major sources. (v)there is high tax evasion in the direct tax whereas,tax evasion is minimized in indirect taxes (vi)indirect taxes discourage consumption,whe reas,direct taxes discourage workers. (6b) (i)it is used to discourage consumption of harmful product (ii) it is used as a trade restriction instrument (iii)it is used to discourage importation of some certain goods (iv)it generates the highest source of income to the govt (v)tax evasion is not possible (vi) it is used as protection instrument. (3a) occupational mobility of labour: it refers to free movement of labour from one occupation, work place and geographical area to another. (3b) -marriage -promotion -climate -bad management (3c) -Educational and training - Promotion
Posted on: Wed, 23 Apr 2014 10:11:16 +0000
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