AL WISAM SCHOOL _| subject: Economics High School Subject: Code: 9708 ; 2/4 1Q0RO [Name:Fajam A Mowantmred Year: 12 Section A (Foceach question there are four posible answers A,B, Cand. Choose te one you consider comet and esord your cos) a) 1, What effect will a minimum price have on a market? ‘A minimum price will be above the equilibrium price in a free market. B. A minimum price will be equal to the equilibrium price in a free market. C. A minimum price will be below the equilibrium price in a free market. D. A minimum price will be likely to create a situation of excess demand. 2. _ occurs where the free market does not make the best use ofscare resources. (1) A Market surplus * ‘B. Goverment failure (©) Market failure D. Government surplus 3. A tax that is levied on goods and services are called vaxue added _te_- A. Direct tax B. Indirect tax C. Equal tax ©) None of the above |. GST and VAT are examples of, tax. qa) ‘A. Proportional taxes B, Progressive taxes ©) Resressive taxes D. None of the above @ s 5. The sale of a state -owned public sector business to the private sector is called - @ @ Privatisation B.. Nationalisation C. Centralisation D. None of the above Section B 6. Briefly explain Canons of Taxation. : 6) itis itera for _@ “good” bax. og ka: come a@nd_i One VYrat es Wwe tncome ol cople J oA. and cannot be. gyotded.tndiech bax cuck as value ~gdded ton CAT) and sts fox Marat ry levied gy oud enh services. 1 Scanned with CamScannerOO ent. w srcead by the arouse sotiized 7 é 7. Discuss whether all forms of transport reasnbs % pi ca nde num ne ens TMhece. are . Arpanet e vernon “Saatoardtatog,jpaabiit tne s ot Lory tont 3 Tinta oat (ual 2. a. 2B | fe pans Sse as toy type of pork er lew = And i ether Moe are lates class oc etd a des end tear 6n roads aod —pest 8. With the help of diagrams, discuss whether consumers will benefit from the introduction of | (@. Anindirect tax and (b): an effective maximum price. (12) : Apes ay cee ected bb an herme diate Scanned with CamScannerSS ipsa aig penton ECONO iisen seasce ae nasne tei OeB BAC ge ae ee rice tathole. IndustngeA jaca. below Hx, pea cima ee ie and na photeiinn a (otlows A rocasrten . Hoe ans teote Gnd while Hae = fee i : 2aaPlteuer ck ee bos f§__ceoksast ser me Scanned with CamScannerIn larch 2016, on the the United Ki sovern eM syce Producers of fizzy tae ‘order 0 = ittere” none ‘Using an example of ac, exist irect regressive taxes. b._ Discuss whether a suger tax or an educational campaign on healthy eating is more likely to reduce child obesity. (12) Sugar_tan ines ico af frazy cvinics ysis Wee to Bar LoS, lewel of ‘itor fot Jk wor 15 15 cand childcon, oO bs sia Wahsjaee prise eneeS 5p want 2 ce shecaaliss Celucatinnal Consdnn in d pi _puchose tess ll deed —ditaiss act elastic, Hen 9 ssauntey —§—$ ——— a -- 4 Scanned with CamScannerBiatht Saustutes ana js vsuaty difeule Put steetios— ameat a 5 ed. Mee ive ee Weed allilide and opisston ace Pull (ober Opiaten Bote appaches have Vase streets aed —nientnaesss et = Steckive ta use. Suijac toa a Ne uert mi . fo Scanned with CamScanner