Mocks 2011 *** READ FIRST POST before posting or risk being banned! ***

Q1. The demand for land is derived demand. explain what is meant by the underlined term with reference to land.

Q2. Define economic development. state 2 policies by which governments of less developed countries might promote economic development.

Q3.outline 3 functions/responsibilities of the ECB

Q4. in equilibrium a consumer buys 8 bars of chocolate at 1 euro each and 12 sandwhiches and 4 euro each. the marginal utility of the 8th bar of chocolate is 10 utils. using the equi-marginal principle of consumer behavior calculate the marginal utility of the 12th sandwhich.

Q5.Explain what is meant by the term 'Public sector borrowing requirement'

Q6. is a composite price index.

Q7. state 3 contributions which adam smith made to economic thought.

Q8. the diagram below represents the demand curve facing a firm in perfect competition. (its a diagram with a horizontal line across the middle)
this demand curve is:
unitary elastic
perfectly inelastic
perfectly elastic
State a reason for your answer.

Q9.the government is considering increasing direct tax ( income tax, paye, capital gains etc) outline 2 advantages and 2 disadvantages of this course of action.

Section B:

Q1.
a) for a commodity to be considered an economic good, it must possess certain characteristics.
i) state and explain 3 characteristics of an economic good.
ii)give 2 examples of commodities that would not be considered an economic good. justify your choice with a brief explanation.

Price Quantity demanded Quantity supplied
40 200 40
60 160 80
80 120 120
100 80 160
120 40 200

i) using the above data draw the diagram showing the market demand and supply curve for mobile phones.
ii)show on your diagram, the price and quantity of mobile phones at which this market is in equilibrium.
iii)using this data, calculate the PED when the price changes from 80euro to 100euro. for this price change is demand elastic/inelastic. explain your answer.

c)
i) with reference to your diagram in 1(b)(i), assume that consumer demand for mobile phones increases by 80 units at each price listed above, while supply remains unchanged.draw the NEW demand curve for this situation and show the new equilibrium price and quantity.

iii)explain 2 possible reasons for the shift in the demand curve.

Q2.
a)
i) state and explain 3 key features of an oligopolistic market.

ii) give 2 examples of industries considered oligopolistic in ireland.

b)with the aid of one clearly labelled diagram:

i) explain the shape of a demand curve facing a form of oligopily

ii)explain the relationship between this demand curve and the firms marginal revenue curve.

iii) explain the long run equilibrium position of this firm.

C) oligopolistic firms tend to engage in non-price competition
i) explain the underlined term.

ii) outline 2 benefits of non price competition to consumers.

iii) outline 2 reasons why consumers prefer price competition.

Q3.
a) the table below shoes the total output and marginal output which a firm receives as its labour force is increased.

number of persons employed: 1 2 3 4 5
total output: 25 52 84 108 130
Marginal output: 25

i) state the law of diminishing marginal returns

ii) using the example above state at what point diminishing marginal returns sets in. explain your answer.

Economies of scale/ diseconomies of scale

i) define the underlined terms

ii) distinguish between internal and external economies of scale. give 2 examples in each case and explain how they arise.

c)
i) explain 3 reasons why small firms survive in the irish economy

ii) suggest 3 actions the government could take to improve the competitiveness of small firms.

Q4.
a) Distinguish between the following and give examples where relevant
i) fixed capital and social capital
ii) saving and investment
iii) capital widening and capital deepening

b)
i) explain what is meant by the term marginal efficiency of capital ( MEC)

ii) discuss 4 factors, other than MEC, which influence the level of investment by entrepreneurs.

C) 'under the government revised.................. invest in school building, major transport ( eg.metro north & dart underground and other infrastructure)

With use of examples, outline 2 possible social costs and 2 possible social benefits of these developments.

Q6.
a) explain the following:
i) terms of trade
ii) balance of trade
iii) balance of payments on current account
iv) balance of payments on capital account

b)
country output per woker per week
Computers Beer
Ireland 40 10
UK 80 30
Total Output 120 40

i) state the law of comparative advantage

ii) explain how both countries benefit from international trade in the above example

iii) calculate the total output when specialisation takes place

iv) calculate the terms of trade for both commodities

c) outline 4 factors affecting the competitiveness of irish based firms involved in international trade.

Q8.
a)
i) outline reasons for carrying out a count of population

ii) the CSO estimates Irelands population has been rising in recent years.
outline the factors which lead to this development.

iii) state and explain the economic effects of increases in population for the irish economy.

b) explain the term ' full employment'

ii) outline economic consequences of a high level of unemployment in the Irish economy.

c) discuss the economic consequences of emigration.

DEB

Short qs :
Mixed economy define and 1 adv and 1 disadv
Calculate PED and explanation of answer
Define collusion of olligopoly and three egs
Calculate the inflation index thing cant remember
Difference between tax avoidance and evasion
3 factor that effect efficiency of labour

Long qs (cant remember everything!)
Q1 One factor that causes a move in demand curve, explain and outline five other
factors
Law of demand and three exceptions
Talk about subtitution and income effect

Q2 Assumptions of Perfect competition
2 adv and 2 disadv of perfect competition
draw the long run and short run equilibrium curves
draw long run and short run suplly curves

q7 the elements of the aggregate demand (you know the Y=C+I+G(X-M) and explain them
calculate mpm multiplier all that stuff
talk bout factors of economic growth
positive and negative effects of economic growth

Q8 diff between monetary policy and fiscal policy, progressive and regressive tax,
and government current and capital expenditure
define national debt
two adv and 2 disadv of national debt
you've been asked to solve the government deficit(?) and what you would do to increase revenue and expenditure
then explain economic effects of your answers.

Short Q:
1.Structural carb in plants
Structural protein in animals
whats 2 monosaccharides joined
vit for calcium absorption
where do cell reactions occur

2.had to answer questions on a graph about pop.
why is the trend the way it is
factorsthat effect pop. and how they affect

3.just know plant cell organelles and where each reaction takes place.

4.know what differences between DNA and RNA (sugars and strands)
State a function of one type of RNA
State bases of DNA
Know what links to what

5.diagram of villus dont have to label but say where what occurs.
know its part of lymphatic system and give 2 other functions of system.

6.know which vascular tissue is which on diagram of dicot stem
name vascular tissues and which one carries food.
differenceof monocot and dicot with respect to vascular tissue.
2 other plant tissues formed in meristem.

Experiments
1.preparation of plant cell
2.know diagram of production of alcohol from yeast
3.dna isolation say why each step is done Eg.blend to break down cell wall etc.
Definitions dna profiling, gene testing

Long questions.
1. Ecology know ecosystem, predation and habitat
name ecosystem you studied and plant there
show how plant named is in abundance
1 abiotic and 1 biotic factor influencing distribution.
how you caught animals ie. equipment, pooter.
predator/prey in ecosystem and adaption of predator prey named.
competition and example of it in your ecosystem.

2 respiration you were given 2 equations, 1 for fermentation and the other was the lactic acid one you had to say they were part of glycolysis.
Cant really remember much but just know where ATP is used, which one produces more energy.
immobilized enzyme and bioreactor
know experiment of immobilization and an application.

3.genetics, know gene and gene expression.
def for sex linkage and 2 common characteristics.
then you have to do a genetic cross.
know evolution and theory's

4. didn't even read it sorry but it had something about root and shoot systems.
The entire question is plant based.

5.know stimulus and what body organ reacts to which stimulus.
say which part of organ reacts and how.
def for hormone and something about hormone supplements
know growth regulators and name 2 and where they come from and how they work.

6.
a) menstrual cycle know hormones and their function, day 1 and day 14 and something else cant really remember
b) know how embryo sac of plant forms.
draw seed and label and say functions of what you labeled.
Difference between monocot and dicot in how they store their food
c) circulation know all different heart veins and where they go, know what i mean? also say if diagram is open or closed system and diff between arteries and veins i think.
Also, systole and diastole. what are they, what happens ar each in relation to blood flow in atria and ventricles