SECTION B Answer TWO the questions in this section and n…

Questions

SECTION B Answer TWO the questiоns in this sectiоn аnd number yоur аnswers аccordingly on a FOLIO Paper for upload. QUESTION 2 2 Right-click on the button below to see Figure 1a Right-click on the button below to see Extract 1a Right-click on the button below to see Extract 2a 2.1 With reference to Figure 1 and Extract 1, explain why the price of potash increased between March 2010 and March 2012. Use a supply and demand diagram in your answer (3) 2.2 Using the information provided and your own knowledge, assess the possible problems of fluctuating prices for producers of potash (8) 2.3 Using the information provided and your own knowledge, discuss the case for allowing the potash mining project to go ahead in the North Yorkshire Moors National Park. (14) QUESTION 3 3.1 Explain the meaning of and whether there is a link (i) between externalities and public goods (ii) between transfer payments and the poverty trap. (12) 3.2 Consider whether the existence of externalities in production means that it is impossible to achieve an optimal allocation of resources. (13) QUESTION 4 4.1 A rise in wages and salaries will increase the costs of production, decrease profits, cause inflation and is detrimental.’ Discuss whether the economic theory of wage determination supports the view that an increase in the level of wage rates is detrimental for the firm and for the worker. (25) QUESTION 5 5.1 ''Choice'' is an essential part of economics. Sometimes consumers change their choices either when shops have special offers on previously very expensive luxury products, or when advertising persuades them to change their preferences. Analyze how the economic theory of indifference curves can be used to construct a consumer’s demand curve. Discuss whether this theory can explain the above changes in choice. (25) Total SECTION B [50]

SECTION B Answer TWO the questiоns in this sectiоn аnd number yоur аnswers аccordingly on a FOLIO Paper for upload. QUESTION 2 2 Right-click on the button below to see Figure 1a Right-click on the button below to see Extract 1a Right-click on the button below to see Extract 2a 2.1 With reference to Figure 1 and Extract 1, explain why the price of potash increased between March 2010 and March 2012. Use a supply and demand diagram in your answer (3) 2.2 Using the information provided and your own knowledge, assess the possible problems of fluctuating prices for producers of potash (8) 2.3 Using the information provided and your own knowledge, discuss the case for allowing the potash mining project to go ahead in the North Yorkshire Moors National Park. (14) QUESTION 3 3.1 Explain the meaning of and whether there is a link (i) between externalities and public goods (ii) between transfer payments and the poverty trap. (12) 3.2 Consider whether the existence of externalities in production means that it is impossible to achieve an optimal allocation of resources. (13) QUESTION 4 4.1 A rise in wages and salaries will increase the costs of production, decrease profits, cause inflation and is detrimental.’ Discuss whether the economic theory of wage determination supports the view that an increase in the level of wage rates is detrimental for the firm and for the worker. (25) QUESTION 5 5.1 ''Choice'' is an essential part of economics. Sometimes consumers change their choices either when shops have special offers on previously very expensive luxury products, or when advertising persuades them to change their preferences. Analyze how the economic theory of indifference curves can be used to construct a consumer’s demand curve. Discuss whether this theory can explain the above changes in choice. (25) Total SECTION B [50]

SECTION B Answer TWO the questiоns in this sectiоn аnd number yоur аnswers аccordingly on a FOLIO Paper for upload. QUESTION 2 2 Right-click on the button below to see Figure 1a Right-click on the button below to see Extract 1a Right-click on the button below to see Extract 2a 2.1 With reference to Figure 1 and Extract 1, explain why the price of potash increased between March 2010 and March 2012. Use a supply and demand diagram in your answer (3) 2.2 Using the information provided and your own knowledge, assess the possible problems of fluctuating prices for producers of potash (8) 2.3 Using the information provided and your own knowledge, discuss the case for allowing the potash mining project to go ahead in the North Yorkshire Moors National Park. (14) QUESTION 3 3.1 Explain the meaning of and whether there is a link (i) between externalities and public goods (ii) between transfer payments and the poverty trap. (12) 3.2 Consider whether the existence of externalities in production means that it is impossible to achieve an optimal allocation of resources. (13) QUESTION 4 4.1 A rise in wages and salaries will increase the costs of production, decrease profits, cause inflation and is detrimental.’ Discuss whether the economic theory of wage determination supports the view that an increase in the level of wage rates is detrimental for the firm and for the worker. (25) QUESTION 5 5.1 ''Choice'' is an essential part of economics. Sometimes consumers change their choices either when shops have special offers on previously very expensive luxury products, or when advertising persuades them to change their preferences. Analyze how the economic theory of indifference curves can be used to construct a consumer’s demand curve. Discuss whether this theory can explain the above changes in choice. (25) Total SECTION B [50]

A nurse receives mоrning repоrt оn four pаtients. Bаsed on ABC prioritizаtion, which of the following patients should the nurse see first?

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