Thai Sikh International School
E-Learning Programme – Online
Assignment – 24/09/2015
Name
: Subject : Economics
Activity 1
From the following
information, calculate the average product of labour and decide the most
efficient combination of workers and machines.
|
No.
of Machines
|
No.
of workers
|
Total
output [units]
|
|
4
|
1
|
10
|
|
4
|
2
|
24
|
|
4
|
3
|
45
|
|
4
|
4
|
72
|
|
4
|
5
|
100
|
|
4
|
6
|
108
|
|
4
|
7
|
112
|
Solution:
|
No.
of Machines
|
No.
of workers
|
Total
output [units]
|
|
4
|
1
|
|
|
4
|
2
|
|
|
4
|
3
|
|
|
4
|
4
|
|
|
4
|
5
|
|
|
4
|
6
|
|
|
4
|
7
|
|
Activity 2
Rising living
standard in China and India are increasing the demand for water, which in turn
is affecting the price of water.
a.
Explain
how improving living standards would increase the demand for water.
b.
Using
a demand and supply diagram, explain what is likely to happen to the price of
water in the future.
Reference Book: Cambridge IGCSE Economics – Susan
Grant.
No comments:
Post a Comment