Economics Past Questions and Answers

The concentration of many firms of a particular industry in a particular area is known as

Which of the following is not an effect of the discovery of mineral resources in an area?

Use this above diagram to answer this question. From the table, the mean of the distribution is

Use this above diagram to answer this question. What is the median of the distribution?

The table below shows an extract from balance of payments for country A. Use the table to answer the questions that follow:
Balance of payments items

	Items of transaction	Receipts ($)	Payment ($)
1	Merchandise (visible trade)	52,000.00	4,000.00
2	Shipping, other transport and travel	4,000.00	8,000.00
3	Investment income	20,000.00	5,000.00
4	Other services	2,500.00	7,500.00
5	Unrequired transfers	22,800.00	7,000.00
6	Direct investment	50,000.00	26,000.00
7	Other long-term capital	254,000.00	289,000.00
8	Short-term capital	221,000.00	238,000.00

Calculate the:
(a) balance of trade (3 marks)
(b) balance on current account (8 marks)
(c) balance on capital account (6 marks)
(d) balance of payment (3 marks)