Eco tutorial 2
.docx
School
Tunku Abdul Rahman University College, Kuala Lumpur**We aren't endorsed by this school
Course
BBBE 1023
Subject
Economics
Date
Dec 16, 2024
Pages
9
Uploaded by Jxbas
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1. Describe the TWO (2)factors that can cause changes in the ProductionPossibilities Frontier (PPF) of a country. (4marks)2. Identify the effect on Malaysia’s production possibilities frontier curve for each of the following events:(i)Discovery of new oil fields in Kelantan.(4marks)(ii)New technology introduced in the electronics sector in Penang.(4marks)
3. The table below shows efficient combinations of two goods, computers and cars that an economy can produce:CombinationComputer(units)Car (units)A4000B30020C20040D10060E080(i) Define production possibilities frontier (PPF).(3 marks)(ii) Based on the table above, plot a PPF diagram for the economy. (3marks) (iii) Calculate the opportunity cost of producing 20 units of car. (3marks)(iv) Explain the type of opportunity cost faced by this economy. (2marks)4. Briefly explain any FIVE (5)factors that shift the demand curve. (10marks)
5. Explain the difference between the ‘law of demand’ and the ‘law of supply’.(8 marks)6. With the aid of a diagram, briefly explain the differences between ‘amovement along the demand curve’ and ‘a shift in the demand curve’.(8 marks)