QUIZ - 1

1. If I lend you $10, with an interest rate of 5% per annum how much must you repay me after one
year?
2. If I put IQD10000 in a bank savings account (Interest 2% per annum) how much money will
they repay me after 5 years, benefitting from Compound Interest?
3. Draw a Demand curve, illustrate elasticity of demand, give an example of a product with
inelastic Demand.
4. Draw a Supply Curve, illustrate elasticity of Supply, give an example of a product with elastic
Supply.
5. Sketch a Supply & Demand graph illustrating Equilibrium.
6. Sketch a Supply & Demand graph illustrating Disequilibrium.
7. What is Capital Expenditure?
8. What is OPEX?
9. What does Net Present Value mean?
10. What is a Production Sharing Agreement?
11. What is the difference between a Tax & a Royalty?