Assignment: Economic Principles and Decision Making
Learning Outcomes
1. Interpret and successfully apply the concepts for an effective analysis
2. Apply accounting principles and standards when accounting for non-current assets, revenue and liabilities and recognise the judgements required in a range of diverse business contexts
3. Differentiate between shares and debentures and apply appropriate accounting procedures
Instructions:
Answer the following at the end of their respective modules; You are required to complete Module 3 question after you finish Module 3 and you are expected to complete Module 4 after that has been covered in class. At no point will you submit both together. Your submission should be in the Blackboard
Module 1:
• How can cities be viewed as examples of economies of scale
• Fill in the table below and examine at which point will the firm have to shut down; you are required to write the formula below
|
Quantity
|
Total cost
|
Fixed cost
|
Variable cost
|
Marginal cost
|
Average cost
|
Average Variable Cost
|
|
0
|
110
|
62
|
|
|
|
|
|
10
|
90
|
|
|
|
|
|
|
20
|
|
|
48
|
|
|
|
|
30
|
126
|
62
|
|
|
|
|
|
40
|
|
|
82
|
|
|
2.05
|
|
50
|
166
|
|
|
2.20
|
|
|
|
60
|
|
|
130
|
2.60
|
|
|
|
70
|
224
|
62
|
|
|
3.20
|
|
|
80
|
|
|
202
|
|
3.30
|
|
|
90
|
324
|
62
|
|
6.00
|
|
|
|
100
|
|
62
|
342
|
|
|
3.42
|
Clearly address what is being asked in the question.
Module 2:
You are required to complete this only after Module 2 has been completed in class; At no point will you submit both the modules together.
1) What is GDP; how is poverty measured in low income countries and how do you separate poverty and income inequality
Module 2: (Answer any 1 question; address all the parts in the chosen question)
1A) In what way does comparing a country's exports to GDP reflect how globalized is it?
1B) Canada's GDP is $1800 billion and exports is $542 billion. What is Canada's export ratio?
1C) GDP for USA is $16,800 billion and the current account balance is $400 billion. What percentage of GDP is current account balance?
1D) Why does trade balance and he current account balance track so closely over time?
(or)
2. Use savings and investment identity to answer the following question: Country A as a trade deficit of $200 billion, private domestic savings of $500 billion, a government deficit of $200 billion and a private domestic investment of $500 billion. To reduce the $200 billion trade deficit by $100 billion, b how much does private domestic savings have to increase
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.