0450_w22_qp23
1.
2.
3.
a) Tax applied to goods/services, for example gst tax
b) Increased export as selling outside of country
Products are produced for cheaper costs, hence can be sold for cheaper price in home
country
c) More productivity leads to lower average costs, which lower the costs of firms production
which will end up increasing the output of firms in the economy, attracting MNCs which
will employ more workers and reduce unemployment.
Lower costs also lead to lower prices, making firms more competitive internationally,
which can increase the export which will increase demand for labour and reduce
unemployment.
d) Poverty may decrease because a decrease in the unemployment rate would increase
the income level of the economy, which would increase the purchasing power of
households and individuals in the economy, allowing them to purchase more goods and
services, which would decrease poverty.
Also, as the income level increases, the government obtains more tax revenue from
income tax. The government can then spend this revenue on welfare benefits, reducing
poverty.
However, a fall in unemployment rate may not cause poverty to fall as the fall may just
have been because of unemployed people leaving the country, this means that the
amount of people employed has not increased at all, meaning poverty has not changed
at all.
Also, the jobs people have been employed in may have been low-paid and low-skilled
jobs. This could mean that these people still do not have enough income to be
considered out of poverty.
4.
a) Number of substitutes
Necessity of good
b) Growth means economy of scale, lower average cost and then lower prices, increasing
revenue if product has elastic demand.
Larger market share means more sales,
c) .
d) Increase in wages will increase the number of people employed because now there is
more incentive for people to become dentists as there is a higher reward.
Also stops
5.
a) Trade in goods
Trade in services
b) Difference in the raw materials available in countries, more raw materials means more
capacity
Qp 13 m23
1.D
2.C
3.B
4.B
5.C
6.D
7.B
8.C
9.C
10.B
11.A
12.A
13.D
14.C x D
15.B
16.B
17.B x C
18.A
19.B
20.D
21.C
22.C
23.A
24.C
25.A
26.A x D
27.D
28.A
29.C
30.A
Qp12 mj23
1.D
2.D
3.D
4.C
5.A
6.C
7.A
8.B
9.B
10.C
11.C
12.D
13.D
14.D
15.A
16.B
17.D x C
18.B
19.D
20.C
21.C
22.D
23.B
24.A
25.B
26.B
27.C
28.A
29.C
30.A
Qp 11 m/j/23
1.D
2.C
3.B
4.B
5.C
6.D
7.A
8.A
9.C
10.C
11.A
12.D
13.C
14.B
15.A
16.B
17.C
18.B
19.D
20.C x B
21.B x D
22.C
23.D
24.B
25.B
26.C
27.B
28.D
29.B
30.B
Qp 12 f/m/23
1.B
2.A
3.A
4.C
5.C
6.D
7.A
8.D
9.C
10.A
11.D
12.D
13.D
14.B
15.A
16.A
17.C
18.B
19.B
20.B
21.C
22.A
23.B x C
24.D
25.C
26.B
27.D
28.B
29.B x A
30.D